Tax Incentives Benefit Businesses, “Excellent Helmets” Empower Winter Olympic Athletes
2022.02.09       Category: Media

(Source: China Taxation News) An outstanding helmet is the standard gear for short-track speed skaters. In world-class sports events, helmets not only guarantee the safety of athletes, but also carry the responsibility of showing China's image to the world. During the ISU World Cup Short Track Speed Skating held at the end of 2021, the new helmets worn by the players of the Chinese short-track speed skating national team captured the eyes of the fans. This time, the “Excellent Helmets”, blending black technologies with artistic features, will take Wu Dajing, Ren Ziwei and other Chinese athletes to the top podium of the Beijing Winter Olympics.

The helmet patterns of the short-track speed skating national team are designed by SKSHU Paint Co., Ltd. (“3TREES”), and sprayed with the water-based two-component polyurethane industrial coatings independently developed by the company. The coatings are defined by features such as environment-friendliness, low VOC, strong color saturation, brightness and smoothness. With the application of special surface materials, the helmets can effectively reduce wind resistance, and give an extra boost to the performance of Chinese skaters.

In a press interview, Hong Jie, Chairman and President of SKSHU Paint Co., Ltd., said that the preferential tax policy introduced by the central government to encourage the development of high-tech enterprises has given us confidence and driving force for promoting the steady growth of the real economy. The taxation authority has supported and witnessed the growth of our company every step of the way. Since the company's preparation for IPO, the provincial, municipal and district taxation departments of Fujian have front-loaded their services, and sent tax officials to our company to guide us in the taxation process and promptly address tax-related risks.


Recently, the tax officials of Putian City Tax Service, State Taxation Administration visited SKSHU Paint Co., Ltd., watched the display of the company's Winter Olympics products and provided guidance on taxation procedures.

Your correspondent learned from 3TREES that in August 2020, 3TREES signed up for the task of developing a new, customized helmet pattern for the short-track speed skating national team.


In order to highlight the green concept, the 3TREES Global R&D Center set up a taskforce with its best and brightest minds, and developed specifically for the short-track speed skating team a green coating that can be used on specific helmets material, i.e. water-based two-component polyurethane industrial coating. In the helmet designs, 3TREES also incorporated the elements of traditional Chinese culture. For example, the helmet worn by Wu Dajing is called “Sun Da Sheng, the God of War of China”. Its designs are inspired by the San Xing Dui heritage and ancient Chinese culture, showing the fighting spirit of the short-track speed skating team on the racing field with abstract lines and minimum colors.


To underscore the artistic features of the “Excellent Helmet”, 3TREES launched a public campaign to solicit excellent short-track skating helmets from society. Finally, 15 outstanding works stood out from more than 200 works, and made into the short list of the helmet designs for the short-track speed skating national team. After a “rigorous” refining process, 3TREES developed seven exclusive helmet patterns for Team China, and delivered more than 40 helmets sprayed with 3TREES industrial coatings to the national team.

Recently, your correspondent paid a visit to SKSHU Paint Co., Ltd. in Licheng District, Putian City, Fujian Province. The modern office buildings are neat and bright, and the whole company is brimming with energy and vitality. Established in 2002, 3TREES joined the ranks of top five Asia-Pacific coating brands in business revenue for the first time in 2021, and grew into a towering tree in less than 20 years.

In the company's showcase of Winter Olympics products, the correspondent saw the “Excellent Helmets” customized for the Team of Honors of the Winter Olympics - the short-track speed skating team. To celebrate the Winter Olympics, 3TREES also launched a commemorative series of gold can products, i.e. triumph can - fresh breath odorless all-in-one wall paint, victory can - fresh breath odorless all-in-one wall paint, and motivation can - 360 anti-formaldehyde wall paint.


In recent years, while accelerating the construction of branch factories, expanding production capacity and increasing market shares, 3TREES has attached high importance to the investment in product research and development. Zhu Qifeng, Finance Director of 3TREES, said that since 2016, the company has invested more than 800 million yuan in research and development. The new policy of tax deduction for R&D expenses has a visible pulling effect on innovation. In the past three years, 3TREES has received a total of more than 38 million yuan of tax benefits.


As a leading company of intelligent manufacturing in Putian, 3TREES has a complex business system and an extended upstream and downstream chain. The effective implementation of the national policy of tax and fee cuts will help drive the growth of all businesses in the industrial cluster. For this reason, the taxation authority has set up a counseling group for 3TREES. Every time a new policy is introduced, the tax officials will immediately make contact with 3TREES’s tax department so that the company could enjoy the direct and full benefits of the tax incentives as quickly as possible.

In order to deliver the policy of tax and fee cuts, the leaders of Fujian Provincial Tax Service, State Taxation Administration paid a visit to 3TREES in early 2021, introduced the tax incentives that 3TREES is eligible for, and solicited opinions and suggestions on the taxation work. “The benefits on the list have far exceeded our expectations! The tax incentives are generous and the processing speed is quick,” said Hong Jie. Since then, Hong Jie has spoken during several important meetings and occasions, giving a thumbs up for the efforts of the taxation authority to optimize the business environment and the results achieved.

In recent years, 3TREES and the taxation authority have worked together to create new models of government-enterprise cooperation. From building a close and clean government-enterprise relationship to fostering a party culture and combining the application of digital and intelligent technologies, the areas of cooperation have continued to expand. In the eyes of Hong Jie, 3TREES’s corporate spirit of making hard efforts and always racing to the top shares the same value basis with the tenet championed by Party Secretary and Director of Fujian Provincial Tax Service Lin Jinghua that “mediocre performance is poor performance”. It is also perfectly in line with the Olympic motto of “Faster, Higher, Stronger - Together”. “While the company benefits from the tax incentives, the ‘Excellent Helmets’ will empower the Winter Olympic athletes,” said Hong Jie.