HC Semitek Subsidiary Receives Close to US $1M Subsidy

HC Semitek subsidiary in Suzhou’s, high power epiwafer LED chip and commercialization project received RMB 6 million (US $940,000) subsidy out of a total grant of RMB 10 million.

The company stated the subsidy will be listed under non-operating revenue in its financial statement for fourth quarter of 2015, and the company will be paying a rate of 15% income tax for the received subsidy. The subsidy is expected to raise the company’s net profit in 2015 to RMB 5.10 million.

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