Australia Shunchang subsidiary for 40 million LED business benefit subsidy

Jiangsu Australia Shunchang Limited by Share Ltd (hereinafter referred to as "the company") morning announced that the company is a subsidiary of Huaian Australia Shunchang Photoelectric Technology Co., the company received the Qinghe District of Huaian City People's government funded science and technology grant funds 40 million yuan in December 22, 2015, the subsidy according to the Qinghe District of Huaian City People's government "on the Huaian Australia Shunchang Photoelectric Technology Co Ltd science and technology special subsidies paid by the letter". According to the provisions of the "enterprise accounting standards", the subsidies are government grants related to assets, included in deferred income will be received, and then from the relevant assets available for use, in the average service life of an asset allocation, included in operating income.

In this regard, the company said that the grant funds received for the company's 2015 annual results do not have a significant impact on the company's LED business has a positive impact on future operations. The company's government subsidies for the accounting treatment of the final results still need to be certified by the auditor's annual audit shall prevail, please the majority of investors pay attention to investment risks.

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