Recently, Xiamen Xinda Optoelectronics Technology Co., Ltd. (hereinafter referred to as “Fujian Xinda Optoelectronicsâ€), a wholly-owned subsidiary of Xiamen Xinda, received the management of Quanzhou (Hutou) Photoelectric Industrial Park Management Committee (hereinafter referred to as “Management Committeeâ€). Issued the "Notice on Disbursing the Financial Subsidy of Fujian Xinda Optoelectronics Technology Co., Ltd."
According to the investment situation of Fujian Xingda Optoelectronics in the LED optoelectronics industry in Quanzhou (Hutou) Optoelectronic Industrial Park in Fujian and its role in industrial development, the management committee agreed to allocate relevant subsidies: financial subsidies of 18 million yuan for science and technology; investment investment subsidies 5 million yuan; M&A subsidy 5 million yuan; other financial subsidies such as industrial development, expansion and income increase, 15 million yuan.
As of the announcement date, Fujian Xinda Optoelectronics has received the above government subsidies totaling 43 million yuan.
According to the relevant provisions of the "Accounting Standards for Business Enterprises", the company will timely carry out relevant accounting treatment according to the type of subsidy payments, which is expected to have a certain impact on 2017 profits.
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