Honglitronic Obtains Special Subsidies of 4 Million Yuan from Government

Honglitronic releases announcement on this noon that its "new surface mount LED construction project" was included in the 2012 Guangzhou new-generation information technology demonstration projects with development special subsidies, and it recently received the development special funds of 4 million.

The company said that the special funds take up 7.94% of its annual audited net profit of 2012. Honglitronic will count the special subsidies towards deferred income in accordance with the relevant provisions included in "Enterprise Accounting Standards". It is expected that the special funds will take no impact on its annual net profit of 2013.

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