Australia Shunchang and received subsidies 35 million yuan net profit of over 6 Q1

Jiangsu Australia Shunchang Limited by Share Ltd subsidiary Huaian Australia Shunchang Photoelectric Technology Co., Ltd. in June 10, 2015 received Qinghe District of Huaian City People's government funded science and technology grant funds 35 million yuan, the subsidy according to the Qinghe District of Huaian City People's government "on the Huaian Australia Shunchang Photoelectric Technology Co., Ltd special subsidies paid by the letter".

According to the provisions of the "enterprise accounting standards", the subsidies are government grants related to assets, included in deferred income will be received, and then from the relevant assets available for use, in the average service life of an asset allocation, included in operating income.

Australia Shunchang said that the grant funds received by does not constitute a significant impact on the company's 2015 annual results have a positive impact on the company's LED business operation. The company's government subsidies for the accounting treatment of the final results still need to be certified by the auditor's annual audit shall prevail, please the majority of investors pay attention to investment risks.

Epitaxial chip companies receive government subsidies in the LED circle is nothing new. Australia Shunchang first quarter of 2015 net profit of 51 million 631 thousand and 800 yuan, which means that government subsidies will account for net profit in the first quarter of 68%.