Shenyang Machine Tool received a special fund of 9.79 million yuan

Resource from: CBCC Likes:100

May 07,2014

Shenyang Machine Tool Co., Ltd. recently received a special fund of 979 million yuan from Shenyang Finance Bureau for the national high-end CNC machine tools and basic manufacturing equipment local fund project. These amounts will be recognized as deferred revenue until after the project is completed and put into production, and accounted into current profit or loss by instalment based on the physical life of the asset. These funds are not expected to have a material impact on the Company's operating results in 2014.

(CBCC)

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