Huacan Optoelectronics Suzhou Company received government subsidies of 11 million

On October 20th, Huacan Optoelectronics (300323) announced on the evening of the 20th that Huacan Optoelectronics (Suzhou) Co., Ltd., a wholly-owned subsidiary of the company, received the management committee of Zhangjiagang Economic and Technological Development Zone on October 17 The document of “Supply of Industrial Development Subsidy of Suzhou Co., Ltd.” agreed to allocate 11 million yuan of industrial development subsidy funds for Huacan Optoelectronics (Suzhou) Co., Ltd. in the third quarter of 2014. The subsidy was paid to Huacan Optoelectronics (Suzhou) Co., Ltd. account today.

According to relevant regulations, the subsidiary's subsidy will be recognized as non-operating income for the fourth quarter of 2014 and will be subject to corporate income tax at a rate of 25%. It is expected to increase the company's 2014 net profit by 8.25 million yuan.

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