43 million! Xiamen XinDa wholly owned subsidiary received government subsidies

Yesterday (2) evening, Xiamen XinDa announced recently, Limited by Share Ltd, a wholly owned subsidiary of XinDa of Fujian province Photoelectric Technology Co. Ltd. (hereinafter referred to as the "Fujian photoelectric XinDa") from Fujian (Quanzhou Lake) Photoelectric Industrial Park Management Committee (hereinafter referred to as "the committee") issued "on the disbursement of XinDa in Fujian province Optoelectronics Technology Co. the company's financial subsidies notice". According to the Fujian XinDa in Fujian, Quanzhou (Lake) photoelectric Photoelectric Industrial Park of the leading role of LED industry investment and the development of the industry, the CMC agreed to finance subsidies: Science and technology three funds subsidies 18 million yuan; investment subsidies 5 million yuan; acquisition subsidies of 5 million yuan; industrial development, expansion of income and other financial subsidies 15 million yuan.

As of the announcement date, Fujian XinDa photoelectric has received the above-mentioned government subsidies totaling 43 million yuan. The company will carry out relevant accounting treatment in a timely manner according to the types of subsidies, and is expected to have an impact on the 2017 profits.

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