Core Viewpoint - The article discusses the classification of various services related to construction and their corresponding VAT rates, emphasizing that not all services related to engineering and construction fall under the same category of building services. Group 1: Service Classification - Engineering design is categorized under cultural creative services, not building services [3] - Engineering supervision is classified as certification consulting services, not building services [3] - Building drawing review is also categorized under certification consulting services, not building services [4] Group 2: VAT Rates for Services - Repair services are classified under building services, with a VAT rate of 13% for repair and maintenance services [5] - Renovation services, which involve repairing, reinforcing, and maintaining buildings, have a VAT rate of 9% [5] - Maintenance services for installed machinery and equipment are taxed at a rate of 6% under "other modern services" [5] Group 3: Taxpayer Classification and VAT Rates - General taxpayers providing building services can choose between a general tax method at 9% or a simplified tax method at 3% [8] - Small-scale taxpayers providing building services are subject to a simplified tax method at a 3% rate, with a temporary reduction to 1% from January 1, 2023, to December 31, 2027 [8][9] Group 4: Prepayment of VAT - From January 1, 2023, to December 31, 2027, small-scale taxpayers with monthly sales not exceeding 100,000 yuan are exempt from prepaying VAT [9]

Core Viewpoint - Cardinal Infrastructure Group announced its initial public offering (IPO) terms, aiming to raise $242 million by offering 11.5 million shares at a price range of $20-22 per share [1] Company Overview - Cardinal Infrastructure Group provides wet utility installation and other infrastructure services for large projects in North Carolina [1] - The company focuses on skilled labor and specialized equipment fleets to deliver services for residential, commercial, industrial, municipal, and state-level projects [1] - Cardinal's business strategy is concentrated in the southeastern United States, primarily operating in the metropolitan areas of Charlotte, Raleigh, and Greensboro in North Carolina [1] Financial Highlights - As of September 30, 2025, Cardinal's 12-month revenue is projected to be $395 million, with an uncompleted order value of approximately $646 million [1] - The company has around 100 projects at various stages of completion as of December 31, 2024 [1]

Core Viewpoint - The company reported a revenue of HKD 269 million for the six months ending September 30, 2025, reflecting a year-on-year increase of 8.47% [1] - The profit attributable to shareholders was HKD 19.174 million, representing a year-on-year growth of 17.55% [1] - The basic earnings per share stood at HKD 0.024 [1] - An interim dividend of HKD 0.005 per share was declared [1] Revenue Drivers - The increase in revenue was primarily due to higher electromechanical service income associated with the construction progress of residential development projects in Wong Chuk Hang, the Hong Kong Chinese Medicine Hospital, and the first phase of the Hong Kong-Shenzhen Innovation and Technology Park [1] - Additionally, the trading of construction materials contributed approximately HKD 5.306 million to the revenue [1]

Core Insights - China Academy of Building Research Co., Ltd. has increased its registered capital from 1.2 billion RMB to 1.4 billion RMB [1] - Several senior executives have changed as part of the recent business registration updates [1] Company Overview - The company was established in August 2001 and is legally represented by Xu Jiefeng [1] - Its business scope includes training services, project management services, foreign contracting projects, engineering technology services, equipment supervision services, geological disaster management services, security technology prevention system design and construction services, and catering management [1] - The company is wholly owned by the State-owned Assets Supervision and Administration Commission of the State Council [1]

Core Viewpoint - The article discusses common issues related to the value-added tax (VAT) for construction services, clarifying the definitions and tax rates applicable to various types of construction-related services [4][5][6]. Group 1: Definitions and Tax Categories - Services with "engineering" or "construction" in their name do not all fall under construction services; for example, engineering design and engineering supervision are classified as cultural creative services and consulting services, respectively [5]. - Repair and maintenance services are categorized differently: only repair services are considered construction services, while maintenance services fall under "other modern services" with a VAT rate of 6% [6]. Group 2: VAT Payment and Tax Rates - Individuals providing construction services across different regions do not need to prepay VAT according to the regulations set by the State Administration of Taxation [8]. - General taxpayers providing construction services can opt for a simplified tax calculation method if they use a labor-only contracting approach, with a VAT rate of 3% for simplified methods and 9% for general methods [11][15]. Group 3: Invoicing and Tax Classification - When issuing invoices, construction services have specific tax classification codes, with the main code being 305, which includes various subcategories such as engineering services and installation services [14]. - The distinction between the 9% VAT rate and the 3% simplified tax rate is crucial, with small-scale taxpayers applying the 3% rate, which is reduced to 1% for taxable sales from January 1, 2023, to December 31, 2027 [15]. Group 4: Tax Prepayment Benefits - From January 1, 2023, to December 31, 2027, small-scale taxpayers with monthly sales not exceeding 100,000 yuan in the prepayment area may benefit from tax prepayment regulations [16].

Taxation Overview - Tax obligations for taxpayers occur on the day they receive payment for sales or issue invoices [2][3] - For taxpayers providing construction or rental services, tax obligations arise on the day they receive advance payments [4] VAT Prepayment Calculation - General taxpayers calculate pre-paid VAT as (Total price and additional fees - Paid subcontracting fees) ÷ (1 + 9%) × 2% [5] - Small-scale taxpayers calculate pre-paid VAT as (Total price and additional fees - Paid subcontracting fees) ÷ (1 + 3%) × 3% [5] Small-scale Taxpayer Policies - From January 1, 2023, to December 31, 2027, small-scale taxpayers with monthly sales not exceeding 100,000 yuan are exempt from pre-paying VAT [6] - For monthly sales exceeding 100,000 yuan, a reduced prepayment rate of 1% applies instead of the standard 3% [6] Local Taxes - Urban maintenance and construction tax, along with educational fees, are calculated based on the pre-paid VAT amount and are paid locally [7] Corporate Income Tax - Out-of-province construction enterprises in Zhejiang must pay corporate income tax on total income, excluding subcontracting fees, at a rate of 0.2% [8] - In-province construction enterprises are not required to prepay corporate income tax [8]

Core Viewpoint - IBI Group Holdings has entered into a share purchase agreement to sell 80% of Building Solutions Limited for HKD 1.5 million, allowing the company to refocus on its core business and improve operational efficiency [1] Group 1: Transaction Details - The seller, IBI Group Limited, is a wholly-owned subsidiary of IBI Group Holdings, and the buyer is Mr. Yan Jian Song [1] - The buyer currently holds 2,000 ordinary shares, representing 20% of the issued share capital of Building Solutions Limited [1] - Upon completion of the transaction, the buyer will own 100% of Building Solutions Limited, and its financial performance will no longer be consolidated into the group’s financial statements [1] Group 2: Company Profile - Building Solutions Limited is a limited company established in Hong Kong, focusing on products and services that enhance building performance and well-being, particularly in improving indoor air quality and providing modern sustainable building materials [1] Group 3: Strategic Rationale - The board of directors believes that the sale is appropriate after considering the financial performance and operational status of the target company [1] - The transaction aims to streamline the business structure and concentrate resources on existing core business segments, thereby enhancing operational efficiency and strengthening financial stability for sustainable growth [1]

Group 1 - The company, Leizhi Group, announced that its seventh board meeting will be held on October 24, 2025, to discuss the proposal regarding not adjusting the conversion price of "Leizhi Convertible Bonds" [1] - For the first half of 2025, Leizhi Group's revenue composition is as follows: new building materials accounted for 80.94%, comprehensive construction technology services 12.45%, software and hardware sales and services 5.6%, special construction industry 0.66%, and others 0.35% [1] - As of the report date, Leizhi Group has a market capitalization of 3.7 billion yuan [1]

Core Viewpoint - The article provides detailed guidance on how general taxpayers should report value-added tax (VAT) related to construction services, including prepayment and unbilled income, as well as the treatment of input tax deductions and losses. Group 1: Reporting Prepaid VAT for Construction Services - General taxpayers providing construction services should report prepaid VAT in the "VAT and Additional Tax Declaration Form" under the section for tax offset situations, specifically in line 3 "Prepaid Tax for Construction Services" [2] - The second column of this line should reflect the prepaid VAT amount for the current period, while the fourth column should indicate the actual tax offset for the period, with any unutilized amount carried over to the fifth column as the ending balance [2] Group 2: Reporting Sales Amounts - The "Sales Amount" in the "VAT and Additional Tax Prepayment Form" should be reported as the total amount including tax [3] - For construction services, the sales amount should include all fees received, including tax, while real estate developers should report pre-received payments for properties sold, also including tax [4] - For rental income, the total amount received for leasing properties should be reported as well, including tax [5] Group 3: Reporting Unbilled Income - Taxpayers must report unbilled income according to the timing of VAT liability, even if no invoice has been issued [7] - General taxpayers should include unbilled income in the VAT declaration form under the relevant sections for unbilled amounts, while small-scale taxpayers should aggregate all sales income to determine eligibility for tax exemptions [7] Group 4: Reporting Input Tax Deductions - Taxpayers should report input tax deductions that need to be reversed in the "VAT and Additional Tax Declaration Form" under the section for input tax details [8] Group 5: Non-Normal Losses - Non-normal losses are defined as losses due to mismanagement leading to theft, loss, spoilage, or destruction of goods, as well as losses resulting from legal violations [16] - There are specific conditions under which input tax cannot be deducted from output tax, including losses related to non-normal situations [17][18]

Group 1 - The article discusses the tax obligations for construction services provided across different regions, specifically focusing on the prepayment of value-added tax (VAT) [2][3]. - Taxpayers providing construction services across counties must prepay VAT to the tax authority where the service occurs, following specific guidelines [3][4]. - General taxpayers using the general taxation method must calculate the prepayment of VAT based on the total price and expenses minus subcontracting payments, applying a prepayment rate of 2% [5][6]. Group 2 - A specific case illustrates that a construction company registered in City A, upon providing services in County B, must prepay VAT of 0.73 million yuan based on its taxable income [8][9]. - Small-scale taxpayers with monthly sales not exceeding 100,000 yuan are exempt from prepaying VAT, while those exceeding this threshold from 2023 to 2027 can apply a reduced prepayment rate of 1% [10][11]. - Another case shows a small-scale taxpayer registered in City C, providing services in County D, must prepay VAT of 0.20 million yuan based on its taxable income [11]. Group 3 - Additional taxes, such as urban maintenance and construction tax, must be calculated based on the prepayment of VAT, with specific rates applied depending on the location [16]. - Corporate income tax for construction projects managed by a central office must be prepaid at a rate of 0.2% of the actual operating income [17][18]. - Common questions address the conditions under which small-scale taxpayers must prepay VAT based on their sales figures, emphasizing the importance of total sales across multiple projects [19][20].