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Guoxing Optoelectronics will receive MOCVD subsidies of up to 500 million yuan

[High-tech LED News] Recently, Foshan Guoxing Optoelectronics Co., Ltd. (hereinafter referred to as “Guo Xing Optoelectronics”, 002449) announced that its holding subsidiary Foshan Guoxing Semiconductor Technology Co., Ltd. and Weiyike Precision Instruments International Trade (Shanghai) Co., Ltd. recently signed a procurement contract for 20 MOCVD equipment.

According to the announcement, Guoxing Semiconductor recently received the “Reply on the preferential policies for LED epitaxial chip projects” issued by the Nanhai District People's Government of Foshan City, numbered Nanfu (2011) No. 30, and agreed to give the proposed by National Star Semiconductor. The project development preferential policy, MOCVD and corresponding chip manufacturing equipment purchased by Guoxing Semiconductor are limited to 50 sets for three years, and each subsidy of up to 10 million yuan will be granted. The Nanhai District Economic Promotion Bureau will implement relevant preferential policies according to the progress of the project.

According to the subsidy of up to 10 million yuan per unit, if Guoxing Semiconductor purchases 50 MOCVDs within three years, it will receive a government subsidy of up to 500 million yuan.

It is understood that Guoxing Optoelectronics decided to use 400 million yuan of super-raised funds in January this year. Together with Guangzhou Chengxin Venture Capital Co., Ltd., Guangfa Shunde Investment Management Co., Ltd. and natural person Deng Jinming, they jointly invested 600 million yuan to establish Foshan Guoxing Semiconductor Technology Co., Ltd. The company is mainly responsible for the LED epitaxial film project.

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