[High-tech LED News] Sanan Optoelectronics (600703.SH) announced on the evening of November 1 that its holding subsidiary, Suncore Photovoltaic Technology Co., Ltd. (hereinafter referred to as Rixin Photovoltaic), has received the Huainan Municipal Government’s joint venture project. The subsidy of 250 million yuan was given.
According to the announcement, according to the "Investment Cooperation Agreement on Ground Application High-concentration Solar Power System and Component Project" signed by Sanan Optoelectronics and the US EMCORE Corporation and the Huainan Municipal People's Government, the Huainan Municipal Government will grant 500 million subsidies to the Japanese core PV. Yuan purchase related production equipment. On October 31, Nisse Solar received a subsidy of 250 million yuan.
According to the "Accounting Standards for Business Enterprises No. 16 - Government Subsidy", the subsidy amount is recognized as deferred income when it is received, and is evenly distributed to profit or loss within the useful life of the relevant asset.
Sanan Optoelectronics has been tracking the development of compound solar cells and has become the first high-efficiency multi-junction solar cell mass production enterprise in China. Rixin PV was jointly established by Sanan Optoelectronics and EMCORE Corporation of the United States. Sanan Optoelectronics invested US$18 million and held 60% of the shares.
According to the announcement, according to the "Investment Cooperation Agreement on Ground Application High-concentration Solar Power System and Component Project" signed by Sanan Optoelectronics and the US EMCORE Corporation and the Huainan Municipal People's Government, the Huainan Municipal Government will grant 500 million subsidies to the Japanese core PV. Yuan purchase related production equipment. On October 31, Nisse Solar received a subsidy of 250 million yuan.
According to the "Accounting Standards for Business Enterprises No. 16 - Government Subsidy", the subsidy amount is recognized as deferred income when it is received, and is evenly distributed to profit or loss within the useful life of the relevant asset.
Sanan Optoelectronics has been tracking the development of compound solar cells and has become the first high-efficiency multi-junction solar cell mass production enterprise in China. Rixin PV was jointly established by Sanan Optoelectronics and EMCORE Corporation of the United States. Sanan Optoelectronics invested US$18 million and held 60% of the shares.
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