Grace: Subsidiary receives government subsidy of 11.31 million yuan
Grace announced that its wholly-owned subsidiary Huangshi Honghe Electronic Materials Technology Co., Ltd. received a special long-term government bond fund subsidy of RMB 11.31 million allocated by the Development and Reform Bureau of Huangshi Economic and Technological Development Zone, Tieshan District, for large-scale equipment updates. This subsidy is classified as a government grant related to assets and will be recognized as deferred income upon receipt. It will be amortized over the useful life of the related asset, with an average allocation to other income for at least 10 years. The government subsidy received is expected to have a positive impact on the company's profits in future years
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