China's sapphire substrate project received financial subsidy funds

Abstract On August 28, 2012, Sanan Optoelectronics received a notice from the Anxi County Finance Bureau titled "Notice on Disbursing the Financial Subsidy for the Sapphire Substrate Project of Sanan Optoelectronics Co., Ltd." This notice was issued under Document No. 399 of An Cai Enterprise [2012]. The document outlined the purpose of the subsidy, which was to support the development of energy-saving and environmentally friendly industries, in line with national policies aimed at promoting a resource-efficient society. It also emphasized the county government's initiative to accelerate the growth of high-tech emerging industrial clusters, particularly focusing on the LED photoelectric industry chain in Anxi County. As part of this effort, a financial grant of 30 million yuan was allocated to Sanan Optoelectronics for its sapphire substrate project. On December 28, 2012, the company officially received the subsidy funds. According to the Accounting Standards for Business Enterprises, such subsidies are recognized as income in the period they are received. This financial support is expected to have a positive impact on Sanan Optoelectronics' 2012 financial performance. The funding not only supports the company’s technological advancement but also aligns with broader regional and national strategies for sustainable industrial development. This event highlights the company's role in driving innovation within the LED sector and its ability to benefit from local government initiatives aimed at fostering high-tech industries. The successful receipt of the subsidy reflects the strong collaboration between the company and local authorities, reinforcing Sanan Optoelectronics’ position as a key player in the industry.