Yangtze Memory Technologies received a tax refund of 186 million!

Recently, Yangtze Memory Technologies Co., Ltd. received a tax refund of 186 million yuan.

Yangtze Memory is one of the three largest memory wafer factories in my country. It was jointly invested and built by Tsinghua Unigroup, the National Integrated Circuit Industry Investment Fund, Hubei Integrated Circuit Industry Investment Fund, and Hubei Science and Technology Investment Group, and is responsible for the National Memory Base Project. In 2017, Yangtze Memory successfully developed China's first 32-layer three-dimensional NAND flash memory chip. According to Diao Shijing, co-president of Tsinghua Unigroup, Yangtze Memory's 32-layer 3D NAND flash memory chip will be mass-produced in the fourth quarter of this year, and its 64-layer 3D NAND flash memory chip research and development is also in full swing, and is scheduled to be mass-produced in 2019.

At the same time, on August 7, Yangtze Memory Technologies unveiled its breakthrough technology XtackingTM, which has been successfully applied to the development of second-generation 3D NAND products and is expected to enter mass production in 2019.

According to the Chutian Metropolis Daily, from the end of July to date, Wuhan East Lake Hi-tech Zone has handled a total of more than 1 billion yuan in value-added tax refunds, of which half was for integrated circuit companies.

On June 27, the Ministry of Finance and the State Administration of Taxation issued a plan for refunding retained tax, which clearly stipulates that a one-time refund will be given to qualified enterprises in advanced manufacturing industries such as equipment manufacturing, modern service industries such as research and development, and power grid enterprises for the input tax that has not been fully deducted within a certain period.

According to Chutian Metropolis Daily, Li Hui, the financial director of Yangtze Memory Technologies, said: "The refund of retained tax can directly increase the company's current cash flow, improve its operating conditions, increase investment in scientific and technological innovation, and help the company's sustainable development."