Sanan Semiconductor receives 100 million yuan in equipment purchase subsidy
Yesterday (6), San’an Optoelectronics issued an announcement announcing that Quanzhou San’an Semiconductor Technology Co., Ltd. (hereinafter referred to as “San’an Semiconductor”), a wholly-owned subsidiary of the company, "Notice of Quanzhou Sanan Semiconductor Technology Co., Ltd. Equipment Purchase Subsidy" [Quanxin Nanguan (2021) No. 34] document.
According to the relevant provisions of the "Investment Cooperation Agreement" signed by the Quanzhou Municipal People's Government, Nan'an Municipal People's Government and the company, the Nan'an Sub-Park Management Committee of Quanzhou Semiconductor High-tech Industrial Park agreed to allocate RMB 100 million as a subsidy for the purchase of San'an Semiconductor equipment. Sanan Semiconductor has received the payment on April 30, 2021.
According to relevant regulations, the equipment subsidy received by San'an Semiconductor is recognized as deferred income upon receipt, and is evenly amortized and included in profit and loss during the useful life of the relevant assets.
Sanan Optoelectronics provides 640 million yuan guarantee for its wholly-owned subsidiary
On May 5, San’an Optoelectronics issued an announcement stating that the company is a wholly-owned subsidiary of Hunan San’an Semiconductor Co., Ltd. (hereinafter referred to as “Hunan San’an”) to apply for a comprehensive credit line of 100 million yuan and RMB 100 million from Bank of Beijing Co., Ltd. Changsha Branch. China Construction Bank Co., Ltd. Changsha Hexi Branch applied for a comprehensive credit line of RMB 540 million to provide joint liability guarantees, totaling RMB 640 million.
Hunan San'an was established on July 7, 2020. It is mainly engaged in the manufacture of semiconductor discrete devices, semiconductor lighting devices, lighting lamps, and semiconductor optoelectronic devices; integrated circuit manufacturing, packaging, design, and testing; silicon carbide substrate R&D, production, Sales; production, sales, and research and development of semiconductor materials related to silicon carbide substrates; manufacturing, sales, and research and development of power electronic components; power electronic technology services; functional materials and their components technology development, consulting, and transfer services, etc.
Sanan Optoelectronics stated that Hunan Sanan is a wholly-owned subsidiary of the company. It applies to the bank for a comprehensive credit line based on production and operation needs, which is conducive to the promotion of the production process and guarantees the normal development and long-term development of production and operation. The guarantee provided by the company for its subsidiaries this time complies with relevant laws, regulations and regulations.
As of May 5, Sanan Optoelectronics’ external guarantees totaled 7.672 billion yuan (including this guarantee), accounting for 25.86% of the company’s audited net assets as of December 31, 2020.
Among them, the company provided a total of 5.818 billion yuan in guarantees for its wholly-owned subsidiaries, accounting for 19.61% of the company’s audited net assets as of December 31, 2020; it paid Fujian San’an Group Co., Ltd. the investment income due to the National Development Fund Co., Ltd. And Xiamen San’an Electronics Co., Ltd. provided a guarantee for the transfer of 1.854 billion yuan of capital increase from the National Development Fund Co., Ltd., accounting for 6.25% of the company’s audited net assets as of December 31, 2020. (Organized by LEDinside)
