As the countdown to the Spring Festival of the Year of the Dog approaches, people are immersed in festive preparations and celebrations. In the world of listed companies, several notable events have taken place recently. From February 6 to February 7, a number of firms announced significant updates. Huacan Optoelectronics received a government subsidy of 170 million yuan, Ocean King reported a 36.39% increase in net profit for 2017, and Silan Micro expanded its capital by investing in its subsidiaries.
Huacan Optoelectronics' subsidiary received a substantial government grant. On February 6, the company announced that its wholly-owned subsidiary, Huacan Optoelectronics (Zhejiang) Co., Ltd., had received the first batch of equipment subsidies from the Yiwu Information Optoelectronics High-tech Industrial Park Management Committee. The subsidy amount was 173.88 million yuan, which is classified as an asset-related government grant. The company has recognized this as deferred income upon receipt.
The company clarified that the funds received are not tied to its daily operations and are not expected to be sustainable in the long term. This kind of financial support is typically one-time or project-based, helping companies with specific development goals.
Meanwhile, Ruifeng Optoelectronics experienced leadership changes. On the same day, the company announced that Mr. Wu Qiang, a director, deputy general manager, and secretary of the board, submitted his resignation. His departure from the role of board secretary was due to internal reorganization. However, he will continue to serve as a director and hold other positions within the company.
In addition, the board approved the appointment of Mr. Liu Zhi, another director and deputy general manager, as the new secretary of the board. This move ensures continuity in corporate governance.
Ruifeng also made headlines for its acquisition of 85% equity in Shenzhen Lingtao Optoelectronics Technology Co., Ltd. through a combination of cash and share issuance. The deal involved major investors such as TCL Group and Haitong Dingzeng, and the shares were listed on the Shenzhen Stock Exchange in 2016.
Ocean King reported impressive financial performance for 2017. On February 7, the company revealed that its total revenue reached 1.1 billion yuan, a 18.61% increase compared to the previous year. Net profit attributable to shareholders rose by 36.39%, reaching 152 million yuan. The growth was attributed to improved customer demand and better cost control.
Silan Micro took steps to strengthen its position in the MEMS sensor market. The company plans to use raised funds for a technology transformation project aimed at expanding production capacity. It increased its capital by 100 million yuan, boosting the registered capital of its subsidiary. This move is expected to enhance asset quality, reduce costs, and improve the company's competitive edge.
Qifeng Technology also celebrated a milestone by signing two major contracts. On February 7, it signed a contract worth 12 million yuan with Lijiang Longji Silicon Materials Co., Ltd. for diamond wire cutting machines. This marks progress in high-hard material processing technology. Earlier, on February 5, the company also signed a 55.8 million yuan agreement with Xinjiang Tianfu Lanyu Optoelectronics for sapphire crystal growth furnaces, further solidifying its position in the sapphire equipment market.
These developments highlight the dynamic nature of China’s tech sector as companies prepare for the upcoming Lunar New Year while continuing to innovate and grow.
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