The company decided to use the “Proposal on the Use of Excessive Raised Funds for Foreign Investmentâ€, which was reviewed and approved at the 2011 First Extraordinary General Meeting of Shareholders held by Foshan Guoxing Optoelectronics Co., Ltd. (hereinafter referred to as “Companyâ€) on January 7, 2011. Over-raised funds of 400 million yuan, together with Guangzhou Integrity Venture Capital Co., Ltd., Guangfa Shunde Investment Management Co., Ltd. and natural person Deng Jinming jointly invested 60 million yuan to establish Foshan Guoxing Semiconductor Technology Co., Ltd. (hereinafter referred to as "National Star Semiconductor").
National Star Semiconductor is the holding subsidiary of the company. On August 9, 2011, the company released a contract for the purchase of equipment for the first phase of 20 metal organic chemical vapor deposition systems (MOCVD), and obtained the Nanhai District of Foshan City. The relevant information of the People's Government's "Reply on the preferential policies for LED epitaxial chip projects" is the announcement of No. 2011-021.
The equipment subsidy policy issued by the People's Government of Nanhai District of Foshan City, No. 30, Nanfu Letter (2011) No. 30, “Response to the preferential policies for LED epitaxial chip projectsâ€, gave MOCVD and corresponding chip manufacturing equipment purchased by National Star Semiconductor. Each subsidy of up to 10 million yuan. After Guoxing Semiconductor signed the order machine contract and paid the deposit or issued L/C, Guoxing Semiconductor submitted an application to the Nanhai District People's Government. After verification, the government allocated 30% of the corresponding machine subsidy, and the remaining 70% subsidy was purchased. After the equipment arrived at the factory, Guoxing Semiconductor submitted an application to the Nanhai District People's Government, and the government allocated it after verification.
According to the subsidy policy of the Nanhai District People's Government, on March 25, 2013, Guoxing Semiconductor received 70% of the corresponding subsidies for the first phase of the metal organic chemical vapor deposition system (MOCVD) equipment, ie RMB 140 million.
National Star Semiconductor is the holding subsidiary of the company. On August 9, 2011, the company released a contract for the purchase of equipment for the first phase of 20 metal organic chemical vapor deposition systems (MOCVD), and obtained the Nanhai District of Foshan City. The relevant information of the People's Government's "Reply on the preferential policies for LED epitaxial chip projects" is the announcement of No. 2011-021.
The equipment subsidy policy issued by the People's Government of Nanhai District of Foshan City, No. 30, Nanfu Letter (2011) No. 30, “Response to the preferential policies for LED epitaxial chip projectsâ€, gave MOCVD and corresponding chip manufacturing equipment purchased by National Star Semiconductor. Each subsidy of up to 10 million yuan. After Guoxing Semiconductor signed the order machine contract and paid the deposit or issued L/C, Guoxing Semiconductor submitted an application to the Nanhai District People's Government. After verification, the government allocated 30% of the corresponding machine subsidy, and the remaining 70% subsidy was purchased. After the equipment arrived at the factory, Guoxing Semiconductor submitted an application to the Nanhai District People's Government, and the government allocated it after verification.
According to the subsidy policy of the Nanhai District People's Government, on March 25, 2013, Guoxing Semiconductor received 70% of the corresponding subsidies for the first phase of the metal organic chemical vapor deposition system (MOCVD) equipment, ie RMB 140 million.
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