On September 01, Huacan Optoelectronics (300323) announced on the evening of September 1, according to the "Notice on Organizing the Application for the 2014 Special Investment Project for Industrial Investment and Technical Renovation" of the Wuhan Economic and Information Technology Commission, the company "Huadian Optoelectronics Co., Ltd. The third phase of the LED epitaxial chip construction project of the company has obtained the subsidy fund for the major technological transformation project of Wuhan and the newly introduced 100 million yuan project. It has recently received a notice from the Wuhan Economic and Information Technology Commission and approved a subsidy of 2,731,700. yuan.
According to the relevant provisions of the Accounting Standards for Business Enterprises, the company's subsidy will be recognized as non-operating income for the third quarter of 2014 and will be subject to corporate income tax at a rate of 15%. It is expected to increase the company's 2014 net profit by RMB 2,321,900.
According to the relevant provisions of the Accounting Standards for Business Enterprises, the company's subsidy will be recognized as non-operating income for the third quarter of 2014 and will be subject to corporate income tax at a rate of 15%. It is expected to increase the company's 2014 net profit by RMB 2,321,900.
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