Changan Automobile announced on June 6 that it had received a notification from the government that the Chongqing Municipal Bureau of Finance would allocate a subsidy of RMB 200 million for the company’s 2012 auto testing ground project and RMB 100 million for research and development grants to support the construction of the company’s automobile comprehensive testing ground project. , to enhance the company's R & D capacity building.
As of yesterday, Changan Automobile has received 100 million yuan in subsidy funds for the above-mentioned auto testing ground project and 100 million yuan in R&D subsidies. The company stated that in accordance with the relevant provisions of the accounting standards, the subsidy funds for the above-mentioned auto proving ground project shall be 100 million yuan, which will be treated as deferred income and will not affect the current profit and loss; the research and development subsidy funds of 100 million yuan will be included in the current profits and losses.
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