Xinye Textile And Wholly Owned Subsidiary Received 9 Million 680 Thousand Government Subsidy.

05 / 15 news

Newfield Spin (3.62, 0, 0%) on the evening of May 15th announcement, according to the Nanyang Municipal Finance Bureau's announcement on the 2013 agricultural industrialization cluster development subsidy fund, the company recently received 7880000 yuan from the Xinye County Finance Bureau for the 2013 agricultural industrialization cluster development subsidy fund.

According to the "preferential policy of attracting investment of alar in Xinjiang" issued by the people's Government of alar city in January 2011, Xinjiang Jinyuan Textile Co., Ltd., a wholly owned subsidiary of the company, is a business attracting investment enterprise in Alar City. It accords with the regulations of the preferential policies for attracting investment in alar, Xinjiang, and enjoys preferential policies. Xinjiang Jinyuan textile has received $1727586 in electricity subsidies in the first quarter of 2014, and 76004 yuan in water subsidies, totaling 1803590 yuan.

The total amount of government subsidies above is 9683590 yuan.

According to the company enterprise The relevant provisions of the accounting standards shall be handled in accordance with the relevant accounting standards, and shall be recognized as non business income. The specific accounting treatment shall be based on the results of the annual auditor's confirmation.