Sanan Optoelectronics "re-subsidized" 32 million

Yesterday, Sanan Optoelectronics announced that on September 16, 2013, the company received a subsidy of RMB 32 million from the Siming District Government of Xiamen City.

According to previous announcements, the Xiamen Municipal Government and the People's Government of Siming District of Xiamen City encourage and support the development of the optoelectronics industry, with reference to the Xiamen City Torch Park's supporting policy of subsidizing MOCVD equipment imported by the companies under its jurisdiction, and Xiamen Sanan Optoelectronics Technology Co., Ltd. Purchased MOCVD equipment for subsidy. This time, 40% of the four-chamber conjoined machines are subsidized.

Sanan Optoelectronics stated that when the company received the subsidy for the relevant production equipment from the Siming District Government of Xiamen City, it was recognized as deferred income when it was received, and was evenly amortized into profit or loss over the useful life of the relevant assets.