Huacan Optoelectronics: Funded 1.5 million yuan to develop indoor lighting technology
Huacan Optoelectronics (300323) announced on the evening of August 8 that the company and Ningbo Shengpu Optoelectronics Semiconductor Co., Ltd. jointly declared the project of “Indoor Semiconductor Lighting Devices, Electric Light Source Products and Testing Technology R&D and Applicationâ€, and applied for project fund support amount of 5 million yuan. If approved, the funding will be distributed by the company and Ningbo Shengpu Optoelectronics Semiconductor Co., Ltd. in proportion of 30%: 70%. The company has received a total of 1.5 million yuan from the fund recently. The subsidy will be recognized as non-operating income for the third quarter of 2014 and will be subject to corporate income tax at a rate of 15%. It is expected to increase the company's 2014 net profit by 1.275 million yuan. 
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