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Dec 21st, 2013
 
Xiamen San’an Opto receives RMB 80 million subsidy
 
San’an Opto announced the company will be purchasing advanced 20 single chamber or five four-chambered GaN MOCVD systems from international companies for its Xiamen subsidiary on Dec. 16, 2013.
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Xiamen San’an Opto has received RMB 24 million (US$ 3.95 million) subsidies for four four-chambered MOCVD systems, or about 30 percent of total subsidies on Dec. 13, 2013.

To encourage the optoelectronic industry developments, the Xiamen government and People’s Government of Siming has been subsidizing companies importing MOCVD equipment in the Xiamen Torch Hi-tech Industrial Development Zone. The local government has subsidized Xiamen San’an Opto Co. MOCVD equipment procurement.

Currently, San’an Opto has received 70 percent subsidiary for four multi-reactor MOCVDs. According to regulations under “Accounting Standards for Enterprises No.16–Government Grants,” the manufacturing equipment subsidies received from People’s Government of Siming are considered as deferred income and must be recorded as the company’s profit and loss over the equipment life span.


 
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