Securities abbreviation: Sifangda
Announcement No.: 2012-045
Announcement of Henan Sifangda Superhard Materials Co., Ltd. on obtaining government subsidies. The company and all members of the board of directors guarantee that the contents of the announcement are true, accurate and complete, and there are no false records, misleading statements or major omissions.
According to the National Development and Reform Commission's “Notice on the Issuance of Strategic Emerging Industry Projects (Second Batch of Industrial Sectors) 2012 Central Budget Investment Plan†(Development and Reform Investment [2012] No. 1325), Henan Sifangda Superhard Materials Co., Ltd. Co., Ltd. (hereinafter referred to as "the company") "Plastic mining PDC pick and drill bit industrialization project" received subsidy funds of 17.1 million yuan, as of the disclosure date of the announcement, the funds have all arrived.
According to the relevant provisions of the "Accounting Standards for Business Enterprises", the company will include the above-mentioned government subsidy funds into the "Deferred Income" subject, which will not have a significant impact on the company's current profit and loss.
Special announcement!
Henan Sifangda Superhard Material Co., Ltd.
Board of Directors
December 28, 2012
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