Shenzhen Noposion received Yuan 5 mn government subsidy

Date:11-20-2012

Chinese agrochemical firm Shenzhen Noposion Agrochemicals Co., Ltd announced that it has received a government subsidy of Yuan 5 million from Shenzhen Development and Reform Commission to support biopesticide formulation high-tech industrialization laboratory projects. These funds will mainly be used to purchase instruments, facilities, requisite technique and software and to improve existing processing equipments and test conditions.

These funds have been confirmed as deferred earnings, it will be carried forward in line with project requirement and implementation progress. The subsidy would not have a material impact on company’s financial results of 2012, according to Noposion.