Huacan Optoelectronics (300323) announced on the evening of February 24 that its wholly-owned subsidiary, Huacan Optoelectronics (Suzhou) Co., Ltd., received the Management Committee of Zhangjiagang Economic and Technological Development Zone on December 31, 2013, “About Huacan Optoelectronics (Suzhou) The approval of the Industrial Development Subsidy of the Co., Ltd. (Zhang Jing Guanfa [2013] No. 57) agreed to allocate 29.6 million yuan of industrial development subsidy funds from Huacan Optoelectronics (Suzhou) Co., Ltd. in 2013. The amount was credited on February 24, 2014.
According to the relevant provisions of the Accounting Standards for Business Enterprises, the subsidy of the subsidiary will be recognized as the non-operating income for the fourth quarter of 2013 and the enterprise income tax will be paid at the rate of 25%. It is expected to increase the net profit of the company by 22.2 million yuan in 2013. The results of the audit of the annual report shall prevail.
According to the relevant provisions of the Accounting Standards for Business Enterprises, the subsidy of the subsidiary will be recognized as the non-operating income for the fourth quarter of 2013 and the enterprise income tax will be paid at the rate of 25%. It is expected to increase the net profit of the company by 22.2 million yuan in 2013. The results of the audit of the annual report shall prevail.
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