Mason Technologies Co., Ltd. announced that Guangdong Provincial Department of Science
and Technology has agreed to include the project of “LED modular luminaire R&D based on air-spray heat dissipation and wireless addressing control”, a joint undertaking by Mason and South China University of Technology, into the provincial support program of 3rdround of special funds for strategic and new industry development. The provincial government will offer 10 million yuan to Mason Technologies Co., Ltd.
Mason Technologies Co., Ltd. will comply with the terms in “Guangdong Provincial Technology Program Contract” regarding the use of this grant which is considered as deferred income. Business profit gained thereafter will be counted as non-business income as they happen based on its specific applications and the proceedings, thus the disposal of the fund shall not influence the company’s annual profit in 2012 after all.
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