Huacan Optoelectronics (300323) announced on the evening of September 5 that Huacan Optoelectronics (Suzhou) Co., Ltd., a wholly-owned subsidiary of the company, recently received the 2014 national-level import interest subsidy fund of RMB 14,210,664 from Zhangjiagang Finance Bureau. The amount was credited on September 3, 2014.
According to the relevant provisions of the Accounting Standards for Business Enterprises, the subsidiary's subsidy will be recognized as non-operating income for the third quarter of 2014 and will be subject to corporate income tax at a rate of 25%. It is expected to increase the company's 2014 net profit by RMB 10,657,998.
According to the relevant provisions of the Accounting Standards for Business Enterprises, the subsidiary's subsidy will be recognized as non-operating income for the third quarter of 2014 and will be subject to corporate income tax at a rate of 25%. It is expected to increase the company's 2014 net profit by RMB 10,657,998.
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