SMM: Yunnan Lincang Xinyuan Germanium Industry Co., Ltd. announced today that the company and its subsidiaries Yunnan Xinyao Semiconductor Materials Co., Ltd., Yunnan Science Xinyuan Crystal material Co., Ltd., Kunming Yunge High-tech Co., Ltd., Yunnan Dongchang Metal processing Co., Ltd., received a total of 8 government subsidies from September 23, 2020 to September 27, 2020, totaling 2.05 million yuan.
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In accordance with the relevant provisions of the Accounting Standards for Enterprises No. 16-Government subsidies, when a company receives government subsidies related to assets, it is recognized as deferred income; when a company receives government subsidies related to income, government subsidies related to daily activities shall be included in other income according to the essence of economic business. Government subsidies that have nothing to do with daily activities shall be included in non-operating income and expenditure. The above 2.05 million yuan of government subsidies are related to income and daily activities, so they are included in other income.
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