Another Wave Of Welfare, Two LED Companies Received Subsidies Totaling More Than 50 Million

- Dec 28, 2018-

At the end of the year, "red envelope rain" hit. Yesterday (27) evening, National Star Photovoltaic and Qianzhao Photovoltaic also announced receipt of government subsidies.——LED chip

According to the announcement issued by Foshan Finance Bureau on December 12, 2018, the company received 425.094 million yuan of provincial special funds for economic development in 2018 (to support the use of technological transformation of enterprises) (a new round of technological transformation, enterprise technology center, intelligent manufacturing). Foshan Finance Bureau has allocated the above funds to the company account on December 26, 2018.——LED chip

Guoxing said that the above government subsidies will have a positive impact on the company's financial situation.

According to the "Investment Agreement" signed by Xiamen Qianzhao Photoelectric Co., Ltd. (hereinafter referred to as "Company") and the Management Committee of Xiamen Torch High-tech Industrial Development Zone (hereinafter referred to as "Xiamen Torch High-tech Zone"), the company received a research and development subsidy of 50 million yuan for Xiamen Torch High-tech Zone in 2018, and the related funds have recently arrived in the accounts, which is related to income. Government subsidies are recognized as current gains and losses upon receipt.——LED chip

Qianzhao Optoelectronics said that as of the disclosure date of this announcement, the company (including points and subsidiaries) had received a total of 59,935,032.17 yuan of undisclosed government subsidies related to revenue, which is expected to increase the company's total profit by 59,935,032.17 yuan.——LED chip

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