On December 2, Huacan Optoelectronics (300323) announced the evening announcement that Huacan Optoelectronics (Suzhou) Co., Ltd., a wholly-owned subsidiary of the company, recently received the Jiangsu Provincial Finance Bureau and the Jiangsu Provincial Department of Science and Technology. Jiangsu Provincial Department of Science and Technology issued a notice on the 2015 provincial-level enterprise innovation and achievements transformation special fund (the first batch), Suzhou Subsidiary's "high-power high-efficiency epitaxy and chip technology research and industrialization" project won 10 million yuan special project financial support. The Suzhou subsidiary received the first special fund of 6 million yuan on December 1.
Huacan Optoelectronics said that according to relevant regulations, the subsidy will be recognized as non-operating income in the fourth quarter of 2015 and will be subject to corporate income tax at a rate of 15%. It is expected to increase the company's 2015 net profit by 5.1 million yuan.
According to the third quarterly report of Huacan Optoelectronics, in the third quarter of 2015, Huacan Optoelectronics' revenue reached 265 million yuan, a year-on-year increase of 22.78%. In the first three quarters, the total operating income was 699 million yuan, a year-on-year increase of 34.41%.
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