Guangdong Ganhua subsidiary for LED equipment subsidies of nearly 40 million

Guangdong Ganhua December 2nd announcement, a wholly owned subsidiary of Guangdong Deli photoelectric Co. Ltd and Jiangmen high tech Industrial Development Zone Management Committee signed the "MOCVD equipment subsidy contract", Germany has received in November 28, 2014 the first phase of photoelectric equipment subsidies 39 million 600 thousand yuan.

Announcement shows that the subsidy payments received are related to assets and government subsidies, recognized as deferred income when received, and in accordance with the relevant asset is expected to use the term, deferred income will be apportioned equally to profit or loss, the accounting treatment related to the annual audit report shall prevail.

Guangdong Ganhua main papermaking industry, upstream of the LED industry LED wafer, chip production project, biological center yeast products and deep processing of products. According to the 2014 three quarterly show; during the reporting period, the company achieved a total revenue of 224 million yuan, of which the paper trade revenues 191 million yuan, biochemical products operating income 29 million yuan, attributable to owners of the parent company net profit of 6 million 209 thousand and 700 yuan. The subsidy is conducive to reducing the cost of project development, ease the pressure on the company's liquidity, will increase the company's fourth quarter 2014 earnings, but due to the relatively small, will not have a significant impact on the company.

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