On December 3, TCL Group announced that the company's controlling subsidiary, Shenzhen Huaxing Optoelectronic Technology Co., Ltd. ("Huaxing Optoelectronics") has received a government subsidy of 600 million yuan. According to incomplete statistics, since 2010, Huaxing Optoelectronics has received subsidies and debt relief of 7.8 billion yuan.
Four years of subsidies of 7.8 billion
Huaxing Optoelectronics Co., Ltd. is one of TCL's four major businesses (multimedia, communication, home appliances, Huaxing Optoelectronics). Huaxing Optoelectronics has the first self-built 8.5-generation LCD panel production line in China.
TCL said that the company's controlling subsidiary, Huaxing Optoelectronics, received a notice and received a government subsidy of 600 million yuan. As of the disclosure date, Huaxing Optoelectronics has received the subsidy.
Government subsidies are not the first time for TCL and Huaxing Optoelectronics. According to the statistics of the reporter, from 2010 to now, TCL has received 7.8 billion yuan in government subsidies for the Huaxing Optoelectronics Project.
On June 18 this year, TCL announced that the government exempted Huaxing Optoelectronics' 8.5-generation panel project from a debt of 5.10 billion yuan. It is understood that this is Shenzhen Shen Sui Technology directly under the Shenzhen SASAC exempted Huaxing Optoelectronics from 5.11 billion yuan of debt.
According to TCL's annual report data, TCL Group received government subsidies of 1.327 billion yuan, and subsidies directly related to LCD panels are nearly 500 million yuan.
In 2011, the Shenzhen Municipal Government granted a special subsidy of 70 million yuan to the TCL High Generation LCD Panel Project. In 2010, the Shenzhen Municipal Government and the Guangdong Provincial Government gave a total of 1.552 billion yuan of special financial subsidies for the TCL LCD panel project.
Huaxing Optoelectronics becomes a "cash tree"
With the previous subsidies and debt relief, Huaxing Optoelectronics has become TCL's largest “cash treeâ€.
In the first three quarters of 2013, TCL Group achieved a net profit of 1.27 billion yuan, a year-on-year increase of 160%. In the first three quarters of the year, Huaxing Optoelectronics achieved revenue of 10.6 billion yuan and net profit of 1.4 billion yuan, of which operating profit was 1.1 billion yuan. TCL said in the announcement of the third quarterly report that it expects to increase the revenue of Huaxing Optoelectronics by about 380 million yuan in 2013.
TCL announced yesterday that about 600 million yuan of the government subsidy of the 600 million yuan is a government subsidy related to income, which can be included in the current profit and loss when received; about 194 million yuan is the government subsidy related to assets. When received, it is recognized as deferred income and is evenly distributed over the useful life of the relevant asset, although the specific amount is still required to be finalized by the auditing firm at the annual audit.
On the 3rd, TCL Group's share price rose slightly by 1.3% to close at 2.33 yuan.
Related
Huaxing Optoelectronics 24.4 billion build 8.5 generation LCD panel production line
Recently, Huaxing Optoelectronics announced the launch of the second phase of the 8.5-generation TFT-LCD production line construction project. It is reported that the project has invested 24.4 billion yuan and has a monthly production capacity of 100,000.
It is understood that Huaxing Optoelectronics Phase II project will further increase the proportion of large-size and 4K ultra-high-definition products, and plans to have a 30% capacity for the production of large-size OLED TV panels.
According to the plan, the project will start at the end of this year and will be put into operation in the third quarter of 2015. After the project is put into production, the annual output value will reach 160 billion yuan.
From the perspective of the global market, only Samsung and LG Display have already produced large-size OLED panels.
According to industry opinion, the 8.5-generation project of Huaxing Optoelectronics has greatly improved the self-sufficiency rate of domestic panels. The second-phase high-generation LCD panel project helps to break the technological monopoly of Japanese and Korean manufacturers.
According to the survey, in September this year, Huaxing's product shipments accounted for 9.5% of the world market share, surpassing Sharp to become the world's fifth. 32-inch products shipped the world's number one, and became the second largest LCD panel supplier in the Chinese mainland market. .
Four years of subsidies of 7.8 billion
Huaxing Optoelectronics Co., Ltd. is one of TCL's four major businesses (multimedia, communication, home appliances, Huaxing Optoelectronics). Huaxing Optoelectronics has the first self-built 8.5-generation LCD panel production line in China.
TCL said that the company's controlling subsidiary, Huaxing Optoelectronics, received a notice and received a government subsidy of 600 million yuan. As of the disclosure date, Huaxing Optoelectronics has received the subsidy.
Government subsidies are not the first time for TCL and Huaxing Optoelectronics. According to the statistics of the reporter, from 2010 to now, TCL has received 7.8 billion yuan in government subsidies for the Huaxing Optoelectronics Project.
On June 18 this year, TCL announced that the government exempted Huaxing Optoelectronics' 8.5-generation panel project from a debt of 5.10 billion yuan. It is understood that this is Shenzhen Shen Sui Technology directly under the Shenzhen SASAC exempted Huaxing Optoelectronics from 5.11 billion yuan of debt.
According to TCL's annual report data, TCL Group received government subsidies of 1.327 billion yuan, and subsidies directly related to LCD panels are nearly 500 million yuan.
In 2011, the Shenzhen Municipal Government granted a special subsidy of 70 million yuan to the TCL High Generation LCD Panel Project. In 2010, the Shenzhen Municipal Government and the Guangdong Provincial Government gave a total of 1.552 billion yuan of special financial subsidies for the TCL LCD panel project.
Huaxing Optoelectronics becomes a "cash tree"
With the previous subsidies and debt relief, Huaxing Optoelectronics has become TCL's largest “cash treeâ€.
In the first three quarters of 2013, TCL Group achieved a net profit of 1.27 billion yuan, a year-on-year increase of 160%. In the first three quarters of the year, Huaxing Optoelectronics achieved revenue of 10.6 billion yuan and net profit of 1.4 billion yuan, of which operating profit was 1.1 billion yuan. TCL said in the announcement of the third quarterly report that it expects to increase the revenue of Huaxing Optoelectronics by about 380 million yuan in 2013.
TCL announced yesterday that about 600 million yuan of the government subsidy of the 600 million yuan is a government subsidy related to income, which can be included in the current profit and loss when received; about 194 million yuan is the government subsidy related to assets. When received, it is recognized as deferred income and is evenly distributed over the useful life of the relevant asset, although the specific amount is still required to be finalized by the auditing firm at the annual audit.
On the 3rd, TCL Group's share price rose slightly by 1.3% to close at 2.33 yuan.
Related
Huaxing Optoelectronics 24.4 billion build 8.5 generation LCD panel production line
Recently, Huaxing Optoelectronics announced the launch of the second phase of the 8.5-generation TFT-LCD production line construction project. It is reported that the project has invested 24.4 billion yuan and has a monthly production capacity of 100,000.
It is understood that Huaxing Optoelectronics Phase II project will further increase the proportion of large-size and 4K ultra-high-definition products, and plans to have a 30% capacity for the production of large-size OLED TV panels.
According to the plan, the project will start at the end of this year and will be put into operation in the third quarter of 2015. After the project is put into production, the annual output value will reach 160 billion yuan.
From the perspective of the global market, only Samsung and LG Display have already produced large-size OLED panels.
According to industry opinion, the 8.5-generation project of Huaxing Optoelectronics has greatly improved the self-sufficiency rate of domestic panels. The second-phase high-generation LCD panel project helps to break the technological monopoly of Japanese and Korean manufacturers.
According to the survey, in September this year, Huaxing's product shipments accounted for 9.5% of the world market share, surpassing Sharp to become the world's fifth. 32-inch products shipped the world's number one, and became the second largest LCD panel supplier in the Chinese mainland market. .
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)
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