Aoyang Shunchang announced that its subsidiary Huai'an Aoyang Shunchang Optoelectronic Technology Co., Ltd. received a special subsidy of 15 million yuan from the Qinghe District People's Government of Huai'an City on May 9, 2014. The subsidy is based on Huai'an. The Qinghe District People's Government issued a letter on the Huai'an Aoyang Shunchang Optoelectronic Technology Co., Ltd. Science and Technology Special Grant Fund.
According to the "Accounting Standards for Business Enterprises", the above subsidy is designated for the introduction of advanced epitaxial furnaces and related ancillary equipment. It is a government subsidy related to assets, which will be included in deferred income when received, and then available from related assets. From the time of use, it is evenly distributed over the useful life of the asset and included in non-operating income.
Aoyang Shunchang said that the subsidy funds received this time will not have a significant impact on the company's 2014 annual results, and will have a positive impact on the future operation of the company's LED business.
According to the "Accounting Standards for Business Enterprises", the above subsidy is designated for the introduction of advanced epitaxial furnaces and related ancillary equipment. It is a government subsidy related to assets, which will be included in deferred income when received, and then available from related assets. From the time of use, it is evenly distributed over the useful life of the asset and included in non-operating income.
Aoyang Shunchang said that the subsidy funds received this time will not have a significant impact on the company's 2014 annual results, and will have a positive impact on the future operation of the company's LED business.
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