Refond Receives RMB 4M Government Subsidy

Refond Optoelectronics announced that the company had received RMB 4 million (US $647,708) subsidy from China’s Ministry of Finance on December 16.

The subsidy was granted to Refond due to the company’s involvement in the development and application of large screen LED components and module, which is based on electronics and telecommunication development subsidy contract signed between the company and the Ministry of Industry and Information Technology.

The subsidy will be considered as deferred profit at the time of reception according to regulations of “Enterprise Accounting Standards”. However, the final accounting category will be determined by the accounting firm. Investors are reminded of the investment risks involved.

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