Sanan Semiconductor And Debang Lighting Received Subsidies For The Second Half Of 2020

- Jan 07, 2021-

Sanan Semiconductor and Debang Lighting received subsidies for the second half of 2020

Yesterday (January 5, 2021), San'an Semiconductor and Debang Lighting respectively disclosed an announcement regarding the receipt of subsidies and statistics on subsidies for the second half of 2020.

San'an Semiconductor receives 147.5 million yuan in subsidies

Sanan Optoelectronics announced that Quanzhou Sanan Semiconductor Technology Co., Ltd. (hereinafter referred to as "Sanan Semiconductor"), a wholly-owned subsidiary of the company, received approximately 147.5 million yuan in subsidies.

According to the announcement, San'an Semiconductor received the "Notice on Appropriation of Equipment Purchase Subsidies for Quanzhou San'an Semiconductor Technology Co., Ltd." from the Nan'an Branch of Quanzhou Semiconductor High-tech Industrial Park. According to the “Investment Cooperation Agreement” signed by the Quanzhou Municipal People’s Government, Nan’an Municipal People’s Government and San’an Optoelectronics, after research, it was agreed to allocate 147,501,282.31 yuan as a subsidy for the purchase of San’an semiconductor equipment.

San'an Semiconductor has received the payment on December 31, 2020. According to relevant regulations, the equipment subsidy received by Sanan Semiconductor is recognized as deferred income when received, and is evenly amortized and included in profit and loss during the service life of the relevant assets.

Debang Lighting received 27.81 million yuan in government subsidies from July to December last year 

Debang Lighting announced that from July 10, 2020 to December 31, 2020, the company and its subsidiaries have received a total of 27,812,091.79 yuan in government subsidies related to income. 

Debang Lighting said that the above government subsidies have been paid to the account. According to relevant regulations, the above subsidies are included in the company’s current profit and loss as non-operating income. It is expected to increase the company’s income (unaudited) by 27,812,091.79 yuan in 2020, and will affect the company in 2020. The performance has a certain positive impact.

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