[Newsletter] Sanan Subsidiary Receives Subsidy, Progress of Sanxiong Aurora Share Repurchase

by:EME LIGHTING     2020-01-05

Sanan Optoelectronics Co., Ltd. Jingan Optoelectronics tonic 62.62 million yuan

On the evening of (31), Sanan Optoelectronics issued an announcement on the receipt of government subsidies from wholly-owned subsidiaries.

According to the announcement, Fujian Jingan Optoelectronics Co., Ltd., a wholly-owned subsidiary of Sanan Optoelectronics Co., Ltd. (hereinafter referred to as Jingan Optoelectronics), received the Anxi County Finance Bureau’s document “On the Central Infrastructure Investment Budget (Appropriation) for the 2018 Technical Renovation Special (Distribution) Notice 'Ancai (construction) refers to [2019] No. 011, according to the Fujian Provincial Development and Reform Commission, Fujian Provincial Department of Industry and Information Technology, 'Notice on the Transfer of Technical Renovation Special 2018 Central Budget Investment (Distribution) Plan' Minsheng Development Investment [2018] No. 794) and the Quanzhou Municipal Finance Bureau's 'Notice on the Release of the 2018 Technical Renovation Special (Distribution) Central Infrastructure Investment Budget (Appropriation)' (Spring Financial Indicators [2019] No. 25) In 2018, the central infrastructure investment budget index of 62.62 million yuan was issued to the Anxi County Economic and Information Technology Bureau.

It is reported that the money is used for the technical transformation project (reward interest) of Fujian Jingan LED sapphire substrate industrialization project. On January 29, 2019, Jingan Optoelectronics had all received the payment.

Sanan Optoelectronics said that according to relevant regulations, Jingan Optoelectronics received a special interest subsidy of RMB 62.62 million, which was confirmed as current income upon receipt and will have a positive impact on the company's first quarter results in 2019.

Sanxiong Aurora's initial share repurchase has cost 3,445,700 yuan

On the same day, Sanxiong Aurora announced the progress of share repurchase.

According to the announcement, Sanxiong Aurora previously announced the repurchase of the company's shares, intending to use its own funds or self-raised funds to repurchase part of the company's public shares in a way that is concentrated in bidding transactions or other laws and regulations. The total amount of repurchase funds is not lower than this. RMB 50 million (including 50 million yuan), and no more than RMB 100 million (including 100 million yuan), the price of the repurchased shares does not exceed RMB 18 yuan / share (including 18 yuan / share).

As of January 31, 2019, the company first repurchased the company's shares through a stock repurchase special securities account in a centralized bidding transaction. The number of shares repurchased was 250,000 shares, accounting for 0.0893% of the company's current total share capital. It is 13.88 yuan / share, the lowest transaction price is 13.60 yuan / share, the total transaction amount is 3,445,700 yuan.

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