China's subsidies to the LED industry are large, wide-ranging, and long-lasting. It is rare. Taking subsidies as an example, in 2017, the state's support for the LED industry has increased. In addition to Sanan, many companies have received huge subsidies.
Recently, Mulinsen, Huacan Optoelectronics, Hongli Zhihui, and Maoshuo Power have received government subsidies...
Moso Power's progress on obtaining government subsidies
On February 12, Maoshuo Power announced that it received the notice from the Shenzhen Science and Technology Innovation Committee about the second batch of enterprises to be funded by the 2017 Enterprise Research and Development Funding Scheme. According to the Shenzhen Science and Technology Innovation Committee, the company and its subsidiaries The company Shenzhen Maoshuo Electronic Technology Co., Ltd. and Shenzhen Maoshuo Electric Co., Ltd. are in compliance with the second batch of enterprises to be funded by the 2017 Enterprise Research and Development Funding Scheme. The total amount of subsidies for this project is RMB 2.935 million.
Recently, Maoshuo Electronics has received the remaining government subsidy of 1.033 million yuan; as of the date of this announcement, the government subsidy of 2.935 million yuan obtained this time has been fully in place. According to the relevant provisions of the "Accounting Standards for Business Enterprises No. 16 - Government Subsidy", the government subsidies received by the company in this period are included in the "other income" subject of the current period. The specific accounting treatment shall be subject to the results of the annual audit of the audit institution.
Huacan Optoelectronics wholly-owned subsidiary receives government subsidies
On February 12, Huacan Optoelectronics announced that Lanjing Technology (Yiwu) Co., Ltd., a wholly-owned subsidiary of the company, recently received the management committee of Yiwu Information Optoelectronics High-tech Industrial Park, “On the allocation of Blue Crystal Technology (Yiwu) Limited The documents of the company's first batch of equipment subsidies (Yi Gaoxin [2018] No. 13) agreed to allocate the first batch of equipment subsidy funds of Lanjing Technology (Yiwu) Co., Ltd. to RMB 65,195,500.
The grant has been received and is a government grant related to the asset. The grant is recognized as deferred income upon receipt.
On February 13, Huacan Optoelectronics announced that Huadian Optoelectronics (Suzhou) Co., Ltd., a wholly-owned subsidiary of the company, recently received the management of Zhangjiagang Economic and Technological Development Zone Management Committee for the procurement of core equipment of Huacan Optoelectronics (Suzhou) Co., Ltd. The document of the approval of the subsidy (Zhang Jing Guanfa [2018] No. 2) agreed to allocate the first batch of core equipment procurement subsidy funds of Huacan Optoelectronics (Suzhou) Co., Ltd. in 2018 to RMB 1010,000.
The grant has been received and is a government grant related to the asset. The grant is recognized as deferred income upon receipt.
Hongli Zhihui Subsidiary receives government subsidies
On February 12, Hongli Zhihui announced that the company's subsidiary Jiangxi Hongli Photoelectric Co., Ltd. (hereinafter referred to as “Jiangxi Hongliâ€) recently received a government subsidy of RMB 1,512,290, as follows:
To support the development of the company, on February 11, 2018, Jiangxi Hongli received an industrial support fund of RMB 15.1229 million issued by the Finance Bureau of Nanchang Airport Economic Zone.
Mulinsen subsidiary receives government subsidies
On February 13, Mulinsen issued a notice saying that the wholly-owned subsidiary Yiwu Mulinsen Lighting Technology Co., Ltd. received the investment and construction subsidy of Yiwu Miaolin Lighting Technology Co., Ltd. on February 11, 2018. The Notice of the Notice (Yi Gaoxin [2018] No. 16) agreed to allocate RMB 50 million for the investment and construction subsidy of Yiwu Mulinsen Lighting Technology Co., Ltd.
The grant has been paid and is a government grant related to the income, which is recognized as current income upon receipt.
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