Yunnan Energy New Material subsidiary receives significant VAT refund

Yunnan Energy New Material Co., Ltd. announced that its subsidiary, Yuxi Enjie New Material Co., Ltd., has received a refund of value-added tax (VAT) input tax credits amounting to RMB 187,733,096.27. This refund followed an application to the relevant tax authorities, in accordance with several key tax policies.

These policies include announcements from the Ministry of Finance and the State Taxation Administration on deepening value-added tax reform, increasing the intensity of VAT input tax credit refund policies, and expanding the scope of industries for full refund of VAT input tax credit policies. An announcement from the State Taxation Administration also guided the process for handling VAT input tax credit refunds.

The company stated that, according to relevant accounting standards, the refund of these VAT input tax credits will have a positive impact on the company's cash flow. Furthermore, it clarified that this refund will not impact the company's assets or profits and losses.