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Chinese government gave $179 million to LED manufacturers in 2015

Chinese government gave $179 million to LED manufacturers in 2015

By BizLED Bureau

Jan 28, 2016: Per a survey report, the major LED players are currently being listed on a website called Chinfo. This is an official portal where 31 LED manufacturers announcements were made in 2015 and it?s a designated information disclosure website allotted by Notice of China Securities Regulatory Commission.

Chinese government gave $179 million to LED manufacturers in 2015

The report revealed that 11 companies (including few company subsidiaries) received subsidies of close to RMB 1.18 billion (US $179 million).

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Another thing to note here is San?an Opto?s had a subsidy worth RMB 500 million, paid in several instalments by the government. The data suggests that the company received RMB 150 million and RMB 20 million respectively on Dec. 30, 2014 and Dec. 31, 2014.

Of the disclosure date listed in January, RMB 30 million out of RMB 113 million of HC SemiTek?s subsidies was duly received on Dec. 31, 2015, and thereby included in the survey. Mainly upstream chip manufacturers were the ones who received subsidies, including the top three ie; HC SemiTek, San? an Opto , and AuckSun Opto. San? an Opto received the highest subsidy with RMB 502 million throughout 2015, which stands a lot higher than the secondly placed HC SemiTek.

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Industry sources cited that San?an Opto have a promising outlook based on its financial results after receiving a huge subsidy from the Chinese government. The company?s revenue has a 3.55% Year on Year growth (YoY) of an estimated RMB 3.6 billion based on three quarter report. Meanwhile, the total profit attributable to shareholders has seen 37.82% YoY growth at RMB 1.45 billion. Although, the non-recurring gains attributable to shareholders has touched 30.18% growth to RMB 1.07 billion.

In another trend, the subsidies for mid-stream package and downstream lighting and display manufacturers were relatively scarce when compared to high end chip manufacturers. Only six out of 23 downstream LED manufacturers have received related subsidies from the government. And Yankon LED Lighting topped the list in those manufacturers with RMB 99.8 million, followed by LED chip manufacturers Changelight and ETI. Meanwhile, Mason Technologies, Refond Opto, Shanghai Feilo Acoustics and Ledman in that order.

The point worthy of noting here is many Chinese players received subsidies during the first quarter of 2016, including San?an Opto?s RMB 150 million, Silan Microelectronics and its holdings subsidiaries RMB 2.9 million and Moso Power?s RMB 8.46 million.

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