Yankon Lighting and Roshow Technology Receive Subsidies from Chinese Government

Yankon Lighting was granted RMB $8 million (US $1.23 million) for project specific funding

Yankon Lighting announced on December 29 that the company received subsidies from China’s Ministry of Industry and Information Technology (MIIT) for “Industrial upgrade to smart manufacturing and IoT+ mobile support security project—Secured chip improvement and application.”

Yankon Lighting stated that the subsidies will be included in deferred income following asset amortization, which will not have huge impact to current profits and losses.

Roshow Technology granted RMB $1.52 million subsidy

Roshow Technology announced earlier that the company received RMB $662,900 from 2014 Zhuji government a county-city level city in Shaoxing, China, based on the 2014 Annual Acceleration of Industry Upgrade Development Policy.

The company’s wholly- owned subsidiary Zhejiang Roshow Electronic Wires received RMB 662,900 under the 2015 Encouraging Society’s Economic Development Policy and Zhejiang Rotong Electro-mechanics received RMB 496,700 from a 2014 Annual Acceleration of Industry Upgrade Development Policy. In total, the company received RMB 1.52 million in subsidies.

According to the announcement, based on accounting standards the company will add RMB 1.52 million to its revenue income, which will have a minor impact on its 2015 annual net profit.

(Translator: Emma Chang, Editor, LEDinside)

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