Xiamen Xinda Subsidiary received 30 million subsidies

On the evening of March 4, Xiamen Xinda (000701) announced that the company's controlling subsidiary, Fujian Xinda Optoelectronics Technology Co., Ltd. (referred to as “Fujian Optoelectronics”) recently received the payment from the Fujian Quanzhou (Hutou) Photovoltaic Industrial Park Management Committee. Some of the three subsidies for science and technology are 30 million yuan.

According to Xiamen Xinda Optoelectronics Technology Co., Ltd. (referred to as “Xinda Optoelectronics”) and the People’s Government of Anxi County, Fujian Province, signed the “Investment Cooperation Agreement for Cinda Optoelectronics LED Packaging and Application Products Project”, the Anxi County Government of Fujian Province will Granted 60 million yuan of subsidies to Fujian Optoelectronics Technology. According to the progress of the project, Fujian Optoelectronics Co., Ltd. obtained three subsidies of 30 million yuan for some science and technology.

The company said that the above amount will be recorded in 2014 non-operating income.

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