China's tantalum industry received 8.6054 million yuan in government subsidy

SMM News: Ningxia Oriental Tantalum Industry Co., Ltd. disclosed the "announcement on obtaining government subsidies" on June 30th, 2020. According to the notice jointly issued by the Department of Human Resources and Social Security of Ningxia Hui Autonomous region, the Department of Industry and Information Technology of Ningxia Hui Autonomous region and the Department of Finance of Ningxia Hui Autonomous region (Ning Renshe Fa [2020] No. 24), the company will receive 8.6054 million yuan of stable post return funds for enterprises with difficulties in 2020.

On July 7, 2020, the company received 8.6054 million yuan in return funds from enterprises with difficulties in 2020. According to the relevant provisions of the Accounting Standards for Enterprises No. 16-Government subsidies, the above-mentioned government subsidies received by the company will be included in other income, and the specific accounting treatment shall be based on the results confirmed by the accountant's annual audit. Please pay attention to the investment risk.

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