欢迎扫描下方二维码关注： 工业和信息化部、国家发展改革委、财政部、国家税务总局日前联合印发通知，部署开展2025年度享受加计抵减政策的集成电路企业清 单制定工作。申请列入清单的企业应于2025年9月25日至9月30日、10月9日至10月14日在信息填报系统中提交申请，并生成纸质文件，加 盖企业公章，连同必要佐证材料（电子版、纸质版）报各省、自治区、直辖市及计划单列市、新疆生产建设兵团工业和信息化主管部门。 政策原文 工业和信息化部 国家发展改革委 财政部 税务总局关于开展2025年度享受增值税加计抵减政策的集成电路企业清单制定工作的通知 工信部联电子函〔2025〕234号 各省、自治区、直辖市及计划单列市、新疆生产建设兵团工业和信息化主管部门、发展改革委、财政厅（局），国家税务总局各省、自治 区、直辖市、计划单列市税务局： 根据《财政部 税务总局关于集成电路企业增值税加计抵减政策的通知》（财税〔2023〕17号）要求，为做好2025年度享受加计抵减政 策的集成电路企业清单制定工作，现将有关事项通知如下： 一、 本通知所称清单是 指财税〔2023〕17号文中提及的享受增值税加计抵减政策的集成电路设计、生产、封测 ...

欢迎扫描下方二维码关注： 工业和信息化部、国家发展改革委、财政部、国家税务总局日前联合印发通知，部署开展2025年度享受加计抵减政策的集成电路企业清 单制定工作。申请列入清单的企业应于2025年9月25日至9月30日、10月9日至10月14日在信息填报系统中提交申请，并生成纸质文件，加 盖企业公章，连同必要佐证材料（电子版、纸质版）报各省、自治区、直辖市及计划单列市、新疆生产建设兵团工业和信息化主管部门。 政策原文 工业和信息化部 国家发展改革委 财政部 税务总局关于开展2025年度享受增值税加计抵减政策的集成电路企业清单制定工作的通知 工信部联电子函〔2025〕234号 各省、自治区、直辖市及计划单列市、新疆生产建设兵团工业和信息化主管部门、发展改革委、财政厅（局），国家税务总局各省、自治 区、直辖市、计划单列市税务局： 根据《财政部 税务总局关于集成电路企业增值税加计抵减政策的通知》（财税〔2023〕17号）要求，为做好2025年度享受加计抵减政 策的集成电路企业清单制定工作，现将有关事项通知如下： 一、 本通知所称清单是 指财税〔2023〕17号文中提及的享受增值税加计抵减政策的集成电路设计、生产、封测 ...

Core Viewpoint - The article discusses the implementation of a VAT deduction policy for advanced manufacturing enterprises in China, allowing them to deduct 5% of their deductible input VAT from their payable VAT from January 1, 2023, to December 31, 2027 [3]. Group 1: VAT Deduction Policy - Advanced manufacturing enterprises can deduct 5% of their deductible input VAT from their payable VAT during the specified period [3]. - To apply for this policy, enterprises must submit application materials through the High-tech Enterprise Recognition Management System and will enjoy the policy after approval [3]. - Any deductible amount that has not been claimed can be accounted for in the period when the policy is applicable [3]. Group 2: Corporate Income Tax Implications - The portion of VAT deducted under this policy is subject to corporate income tax, as it does not meet the criteria for non-taxable income [3]. - According to the relevant regulations, any financial funds received from government departments that meet specific criteria can be excluded from taxable income when calculating the taxable income [3].

Core Viewpoint - The article discusses the VAT incremental deduction policy, which allows specific taxpayers to calculate a deduction amount based on a certain percentage of the current deductible input tax, thereby reducing their VAT burden [3][4]. Group 1: Policy Explanation - The VAT incremental deduction policy is a tax incentive that enables eligible taxpayers to deduct an additional percentage of their deductible input tax from their VAT payable [3]. - For example, if a company purchases raw materials worth 10,000 yuan and can deduct 1,300 yuan in input tax, under this policy, it can calculate an additional 5% (65 yuan) to further reduce its VAT liability [4]. Group 2: Applicable Industries - The advanced manufacturing industry is included in the sectors eligible for this policy, allowing these enterprises to benefit from the VAT incremental deduction [4]. Group 3: Policy Duration - The policy is effective from January 1, 2023, to December 31, 2027, as per the announcement by the Ministry of Finance and the State Taxation Administration [4].

Core Viewpoint - Aerospace Intelligence (航天智造) reported a moderate increase in revenue and net profit for the first half of 2025, with concerns regarding accounts receivable and declining profit margins [1][2]. Financial Performance - Total revenue for the first half of 2025 reached 4.163 billion yuan, an increase of 8.65% year-on-year [1]. - Net profit attributable to shareholders was 392 million yuan, up 1.2% year-on-year [1]. - In Q2 2025, total revenue was 2.008 billion yuan, a year-on-year increase of 3.73%, while net profit decreased by 6.48% to 206 million yuan [1]. - The gross margin was 19.38%, down 8.33% year-on-year, and the net margin was 10.84%, down 3.78% year-on-year [1]. - The company’s accounts receivable accounted for 222.43% of the latest annual net profit, indicating a significant concern regarding cash flow [1][3]. Key Financial Metrics - The company’s operating cash flow per share was 0.38 yuan, a decrease of 16.01% year-on-year [1]. - Earnings per share remained stable at 0.46 yuan, reflecting a slight increase of 1.18% year-on-year [1]. - The total liabilities decreased significantly by 70.92% to 86.9 million yuan [1]. - The company’s net assets per share increased by 11.75% to 6.4 yuan [1]. Business Segments - The automotive parts business saw a revenue increase of approximately 10%, benefiting from a 13% year-on-year growth in passenger car sales [4]. - The oil and gas equipment segment maintained performance compared to the previous year, while the high-performance functional materials segment experienced a decline due to market changes [4].

Group 1 - The implementation of "reverse invoicing" for resource recovery enterprises aims to enhance the convenience of obtaining invoices when purchasing scrapped products from individuals [3] - "Scrapped products" are defined as products that have lost all or part of their original utility value due to social production and consumption [3] - "Sellers" refer to individuals selling their used scrapped products or those purchased for resale, with cumulative sales not exceeding 5 million yuan (excluding VAT) within a continuous period of 12 months [3] Group 2 - Resource recovery enterprises must meet specific conditions, such as obtaining the hazardous waste operation license for hazardous waste collection [3] - For scrapped vehicle recovery, enterprises must comply with national regulations and obtain the qualification certificate for scrapped vehicle recovery and dismantling [3] - Other resource recovery enterprises must register as business entities and complete the filing with the Ministry of Commerce according to national regulations [3] Group 3 - Resource recovery enterprises can be either units or individual businesses when implementing "reverse invoicing" [3] - When resource recovery enterprises issue "reverse invoices" to sellers, they are also required to handle VAT and additional tax fees on behalf of the sellers [3]

Tax Policy Insights - The article discusses the tax rate differences for crane rental services, highlighting a 13% tax rate versus a 9% tax rate based on whether the rental includes operators and maintenance [5][11]. - It emphasizes that taxpayers renting construction equipment must provide operators and maintenance services, which can influence the choice of rental service based on tax implications [5]. Advanced Manufacturing Tax Policies - Advanced manufacturing enterprises cannot simultaneously enjoy multiple VAT deduction policies; they must choose the most favorable one without overlapping in the same period [14]. - Exported goods and services by advanced manufacturing enterprises do not qualify for VAT deduction policies, and the corresponding input tax cannot be claimed for deductions [15]. - Unclaimed VAT deductions can be accounted for in the current period if the advanced manufacturing enterprise decides to apply the deduction policy [16].

Core Viewpoint - GHW International (09933) expects a net profit of approximately RMB 8 million for the six months ending June 30, 2025, compared to a net profit of approximately RMB 4.4 million for the six months ending June 30, 2024, indicating a significant increase in profitability driven by foreign exchange gains and other income [1] Financial Performance - The anticipated net profit for the upcoming period represents an increase of approximately 81.82% compared to the previous period's net profit [1] - The increase in net profit is primarily attributed to a rise in other income due to foreign exchange gains from the appreciation of currencies such as the Russian Ruble and Mexican Peso against the RMB [1] - Additional income of approximately RMB 7.5 million was generated from the VAT rebate policy, which contributed positively to the overall financial performance [1] Market Conditions - The increase in net profit was partially offset by a decrease in gross profit due to intensified market competition resulting from the expansion of market supply for certain self-produced and traded products [1]

Core Viewpoint - GHW INTL (09933.HK) expects a significant increase in net profit for the six months ending June 30, 2025, projecting approximately RMB 8 million, compared to RMB 4.4 million for the same period ending June 30, 2024 [1] Financial Performance - The increase in net profit is primarily attributed to: - A rise in other income due to foreign exchange gains from the appreciation of currencies such as the Russian Ruble and Mexican Peso against the RMB [1] - An increase in other income of approximately RMB 7.5 million resulting from the VAT rebate policy [1] - This increase in profit is partially offset by a reduction in gross profit due to intensified market competition affecting specific self-produced and traded products [1]

Group 1 - The article discusses the announcement from the Ministry of Finance and the State Taxation Administration regarding the advanced manufacturing enterprises eligible for the VAT deduction policy for the year 2025 [4] - The policy allows advanced manufacturing enterprises to deduct 5% of the current deductible input tax from their payable VAT from January 1, 2023, to December 31, 2027 [4][6] - Advanced manufacturing enterprises are defined as high-tech enterprises, and the eligibility criteria for the 2025 list include specific sales and R&D expenditure requirements [9][11] Group 2 - The application period for enterprises already on the 2024 list is from June 1 to June 10, 2025, while new applicants can apply from September 1 to September 10, 2025 [12] - The deadline for all applications is April 10, 2026, and applications must be submitted through the official high-tech enterprise recognition management website [12] - The policy is effective for high-tech enterprises from January 1, 2025, to April 30, 2026, depending on their qualification status [13]