Sanan Optoelectronics announced that the company had received a financial subsidy of 55.587 million yuan from the Anxi County Finance Bureau on September 30 for its “Sapphire Substrate Projectâ€. At present, the amount has been received.
Sanan Optoelectronics stated in the announcement that according to the relevant provisions of the Accounting Standards for Business Enterprises, the amount is recognized as current income upon receipt. This matter will have an impact on the company's third quarter 2013 results.
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