PRC Affiliates definition
Examples of PRC Affiliates in a sentence
The PRC Subsidiaries and the PRC Affiliates are engaged solely in the Business and activities necessary for and associated with the Business and have no other activities.
The PRC Subsidiaries and the PRC Affiliates shall comply with all applicable PRC tax laws and regulations in all material respects, including without limitation, laws and regulations pertaining to enterprise income tax, value added tax and business tax.
The VIE Agreements constitute sufficient basis for the PRC Affiliates to be included in consolidated financial statements of the Group Companies under US GAAP.
Prior to a Qualified IPO (as defined in the Restated Shareholders Agreement) by the Company, the PRC Subsidiaries and the PRC Affiliates shall have submitted a plan to the reasonable satisfaction of the Company’s Board of Directors regarding compliance with all applicable PRC labor laws and regulations in all material respects, including without limitation, laws and regulations pertaining to welfare funds, social benefits, medical benefits, insurance, retirement benefits, pensions and housing funds.
The PRC Affiliates: Shenzhen Qianhai Minheng Commercial Factoring Co., Ltd.