ST Ganhua announced that it had received a fund of RMB 10 million titled ‘Special Support Fund for Momentous LED industrialization’ from Jiangmen Municipality, on 26th, December, 2012 as per an stock transfer agreement signed on 12th, March, 2011 between Jiangmen Municipal Asset Management Agency, its ex-controlling shareholder and Delixi as present one.
In accordance with accounting principle, money that ST Ganhua received this time pertains to asset-related government subsidy and will be evenly distributed and counted into current profits and losses within the lifetime of underlying assets.
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