Reinvestment in Construction Subsidy

Yesterday (21), Mori announced that a wholly-owned subsidiary of HeXie Mingxin (Yiwu) Optoelectronic Technology Co., Ltd. (hereinafter referred to as "HeXie Optoelectronic") received a government subsidy of 50 million yuan. According to the announcement, Mori recently received a document from the Management Committee of Yiwu Information Optoelectronic High-tech Industrial Park "Notice on Allocating Investment and Construction Subsidy to Harmony Mingxin (Yiwu) Optoelectronic Technology Co., Ltd. in the Third Quarter of 2019" (No.41, Yigao [2019]), agreeing to allocate 50 million yuan of subsidy funds for investment and construction of Harmony Optoelectronic in the third quarter of 2019. Mullinson said that the above-mentioned funds have recently been transferred to the account of Harmony Optoelectronics Company, which is a government subsidy related to income and recognized as current income upon receipt. The government subsidy received this time is expected to increase the company's total pre-tax profit in 2019 by 50 million yuan. It is understood that Harmony Optronics will receive 50 million yuan of investment and construction subsidy in the second quarter of 2019 at the end of September. At the end of August, he received 37.5 million yuan in subsidies for industrial development.

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