San’an Receives US$ 5.23 Million Subsidiary from Chinese Government

San’an Optoelectronics recently announced it had received RMB 32 million (US$ 5.23 million) subsidiary from People’s Government of Siming, Xiamen.

Xiamen government and People’s Government of Siming is encouraging and supporting optoelectronic industry development, according to the announcement. By using the Xiamen National torch Hi-Tech Industrial Development Zone’s MOCVD import subsidiary policy as a reference, Xiamen city government is subsidizing San’an Optoelectronic’s MOCVD purchases. The recent subsidiary covers 40% of costs for four MOCVDs with four chambers.

The People’s Government of Siming subsidized MOCVD equipments are recognzed as deferred deferred income equally distributed within the useful lives of the relevant assets and included in the current profits and losses., according to San’an Optoelectronics.

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