Dry Photoelectric: Announcement on receiving government subsidies

Ganzhao Optoelectronics recently received the fourth subsidy from the Xiamen Torch High-tech Industrial Development Zone Management Committee for a total of RMB 50,064,300.0.

The subsidy is based on the agreement of the “Investment Agreement” signed between the company and the Xiamen Torch Management Committee to subsidize the company's purchase of MOCVD equipment for the production of LED blue and green epitaxial wafers. The agreement has been reviewed and approved at the 18th meeting of the second board of directors of the company and the company's second extraordinary shareholders meeting in 2014.

In addition, the “Proposal on Adjusting the Investment Scale of “Blue and Green LED Epitaxial Films and Chip Projects” has been reviewed and approved by the 20th meeting of the 2nd Board of Directors and the 3rd Extraordinary General Meeting of Shareholders of 2014.

According to the relevant provisions of the “Accounting Standards for Business Enterprises”, the above-mentioned subsidy funds are recognized as deferred income when they are received, and are evenly distributed to profit or loss within the useful life of the relevant assets.

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Screw Thread Sensor

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