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[Ferro-alloys.com] Xixia Shenlong Metallurgy Furnace Charge Co., Ltd. (Shenlong Metallurgy) is located in Xixia County, Henan Province. It is a brunch of Henan Xibao Metallurgy Materials Group Co., LTD (Henan Xibao) which was founded in 1969. Henan Xibao is China’s greatest high-tech enterprise of metallurgical function protection materials and it has become a cross-regional business group. Shenlong Metallurgy is the second largest cored wire manufacturer of China. It has 13 cored wire sets and annual capacity is about 30,000 mt.

Henan Xibao recently released its first prospectus of short-term financing bonds for 2014. According to the prospectus, Shenlong Metallurgy is social welfare enterprise. By the end of 2013, it had employed 110 disabled workers. According to national preferential policy for welfare enterprises, much of its income tax was reduced or deducted. In 2011, RMB 2.32 million (USD 0.37 million) was deducted. In 2012, RMB 2.16 million was deducted and in 2013 RMB1.54 million was deducted. Meanwhile, much Value Added Tax (VAT) was returned. In 2011, RMB 7.53 million was returned. In 2012, RMB 7.66 million was returned and in 2013 RMB 6.27 million was returned.

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• [Editor:Mike.zhang]