Baota Industry (000595.SZ) has received a tax reduction approval.

Baota Industry (000595.SZ) announced that its wholly-owned subsidiary Northwest Bearing Co., Ltd. ("Northwest Bearing") received the full transfer price for the old factory area property land publicly listed for transfer on January 8, 2025. Recently, the company received a reply from the People's Government of Ningxia Hui Autonomous Region regarding the exemption of local taxes for Baota Industry Co., Ltd., on the real estate transaction of its wholly-owned subsidiary Northwest Bearing Co., Ltd., exempting the land value-added tax of 47.43 million yuan and stamp duty of 110,000 yuan.