Domestic LED chip leader Sanan Optoelectronics receives huge subsidies again

Sanan Optoelectronics received Anxi County Finance Bureau “Anxi County Finance Bureau's Circular on Granting Financial Subsidy for the Sapphire Substrate Project of Sanan Optoelectronics Co., Ltd.” Anxi County Finance Bureau on September 27, 2012. The main contents are: In order to implement the country's call for vigorous development of energy-saving and environmental protection industries and the construction of a conservation-minded society, according to the requirements of the county government to speed up the cultivation of high-tech emerging industrial clusters, and promote the development of the LED optoelectronic industrial chain in Anxi County, the company's sapphire substrate project The allocation of "Three Science and Technology" financial subsidy funds was 60 million yuan. At present, the money has been received.

According to the relevant provisions of the Accounting Standards for Business Enterprises, the subsidy amount is recognized as current income upon receipt. This matter will have a positive impact on the company's third quarter 2012 results.

Sanan Optoelectronics announced on the evening of October 8 that the company’s wholly-owned subsidiary, Anhui San’an Optoelectronics Co., Ltd., received the Central Budget Investment Plan for the 2012 Strategic Emerging Industries (Energy Saving and Environmental Protection) Project from the Wuhu City Development and Reform Commission on September 29. Notice: Anhui San'an High-efficiency Energy-Saving LED Lighting LED Epitaxial and Chip Industrialization Project was awarded a central investment of 20 million yuan in the central budget of Anhui's strategic emerging industries (energy saving and environmental protection) project in 2012. In addition, according to the standards of the subsidy for imported products approved by the Ministry of Finance's “Notice on Disbursement of Subsidy Funds for Imported Products in Various Regions in 2011”, Anhui Sanan received an interest subsidy of RMB 1,581,400.

The company's holding subsidiary, Suncore Photovoltaic Technology & Electric Co., Ltd., received a notice on “Special Subsidy Payment for the Application and R&D of Sunchip Photovoltaic Chips” issued by the Finance Bureau of Huainan Hi-tech Industrial Development Zone on September 30. According to the contents of the document, Suncore PV obtained The financial special subsidy of 30 million yuan is used for company chips and R&D subsidies.

The above money was received on September 28 and September 29. According to the relevant provisions of the Accounting Standards for Business Enterprises, the above amounts are recognized as deferred income upon receipt and are amortized into profit or loss during the benefit period of the project.