On March 14, 2011, the National People's Congress approved China's Twelfth Five-Year Plan (for the years 2011 through 2015) (the "Plan"). One of the important goals in the Plan is to transform China's manufacturing base from low-end goods to higher value-added goods. The Plan advocates the development of seven priority industries, including the New Materials Industry which covers the packaging industry. Within the packaging industry, the program mostly focuses on the development of specialty packaging materials.
Earlier this year, the Company's subsidiary, Hainan Shiner Industrial Co., Ltd., was recognized by China's Ministry of Science and Technology as a "National Innovation Corporation," a standing which encourages the Company to leverage its outstanding R&D capabilities to continue developing specialty materials for the packaging industry. This year the Company also renewed its status as a "National High-Tech Enterprise," which provides the Company with a 15% income tax compared to standard corporate income tax rate of 25%.
About Shiner International, Inc.
Shiner International, Inc. (the "Company") is engaged in the research and development, manufacture and sale of flexible packaging material and advanced film. Its products include coated packaging film, shrink-wrap film, common packaging film, anti-counterfeit laser holographic film and color-printed packaging materials. The Company's products are used by manufacturers in the food and consumer products industry to preserve the texture, flavor, hygiene, and convenience and safety of their products. The Company was founded in 1990 and is headquartered in Haikou, China.
Approximately 80% of Shiner's current customers are located in China, with the remainder spanning Southeast Asia, Europe, the Middle East and North America. Shiner holds 16 patents on products and production equipment, and has an additional 10 patent applications pending. The Company's flexible packaging meets U.S. FDA requirements, as well as the requirements for food packaging sold in the EU. Shiner's product manufacturing process is certified under ISO 9001:2000. Additional information on the Company is available at http://www.shinerinc.com.