On March 31, 2017, Huacan Optoelectronics issued the “Announcement on Subsidiary Obtaining Government Subsidies†(announcement number is 2017-058).
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1. Huacan Optoelectronics (Zhejiang) Co., Ltd., a wholly-owned subsidiary of the Company, received the Notice of Zhejiang Yiwu Industrial Park Management Committee on Distributing the Industrial Development Subsidy of Huacan Optoelectronics (Zhejiang) Co., Ltd. (Yiyuan Management [2017]9 No.) will allocate 37.5 million yuan of industrial development subsidy for the first quarter of 2017 of Huacan Optoelectronics (Zhejiang) Co., Ltd.;
2. The second-level subsidiary of the Company, Lanjing Technology (Yiwu) Co., Ltd., received the notice of Zhejiang Yiwu Industrial Park Management Committee on the allocation of industrial development subsidies for Blue Crystal Technology (Yiwu) Co., Ltd. (Yiyuan Guan [2017] No. 10 The documents will be allocated to the blue crystal technology (Yiwu) Co., Ltd. in the first quarter of 2017, the industrial development subsidy of 12.5 million yuan. At the same time, the impact on the company's first quarter results was announced.
According to the above notice, Huacan Optoelectronics (Zhejiang) Co., Ltd., a wholly-owned subsidiary of the Company, recently received 37.5 million yuan of industrial development subsidy for the first quarter of 2017; the second-level subsidiary of the Company, Lanjing Technology (Yiwu) Co., Ltd. recently received In the first quarter of 2017, the industrial development subsidy was 12.5 million yuan.
The subsidy will have a positive impact on the company's 2017 results, and the specific accounting treatment will be based on the results of the annual audit of the accountant.
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