Qianzhao Optoelectronics received a subsidy of RMB 21.55 million, which will be included in profit and loss

Qianzhao Optoelectronics announced on the evening of the 8th that the company had recently received the second subsidy totaling 21.5549 million yuan from the Xiamen Torch High-Tech Industrial Development Zone Management Committee.

Qianzhao Optoelectronics stated that the subsidy is a subsidy for the company to purchase MOCVD equipment used to produce LED blue and green epitaxial wafers in accordance with the "Investment Agreement" signed between the company and the Xiamen Torch Management Committee. According to relevant regulations, the above-mentioned subsidies are recognized as deferred income when received, and are evenly amortized into profit and loss over the useful life of the relevant assets.