For the calendar year 2009 year and through 2011, Tongxin International's
effective income tax rate will be reduced to 15% from the standard tax rate of
25%. Tongxin has completed its mandatory 15-day waiting period after its
conditional certification as a New and High Technology Enterprise on
Tongxin's new tax rate will be calculated for the Company's 2009 full year
earnings and thus management anticipates approximately
About Tongxin International Ltd.
Tongxin International Ltd., the largest independent supplier of EVBS in
FORWARD LOOKING STATEMENTS
Statements contained in this press release, which are not historical fact, constitute "Forward-Looking Statements." Actual results may differ materially due to numerous important factors that are described in Tongxin International's most recent report to the SEC on Form 6-K, which may be revised or supplemented in subsequent reports to the SEC. Such factors include, among others, the cost and timing of implementing restructuring actions, the Company's ability to generate cost savings or manufacturing efficiencies to offset or exceed contractually or competitively required price reductions or price reductions to obtain new business, conditions in the automotive industry, and certain global and regional economic conditions. Tongxin International does not intend or assume any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
For more information, please contact: COMPANY: Mr. Rudy Wilson, CEO Tel: +1-248-593-8330 Email: rudy@txicint.com Ms. Jackie Chang, CFO Tel: +1-626-660-7117 China: +86-13467553808 Email: jackie@txicint.com Web: http://www.txicint.com INVESTOR RELATIONS: John Mattio, SVP HC International, Inc. Tel: +1-203-616-5144 (U.S.) Email: john.mattio@hcinternational.net Web: http://www.hcinternational.net
SOURCE Tongxin International Ltd.