A Wholly Owned Subsidiary Of The Company Has Received 6 Million 867 Thousand And 700 Yuan From The Government.

In April 23rd, the Limited by Share Ltd (hereinafter referred to as "Mu Gao Di") announced that a wholly owned subsidiary of Zhejiang, Mu Gao Di outdoor products Co., Ltd. received a financial subsidy of 4 million 410 thousand yuan in February 2019.

In addition, recently, a total of 2 million 457 thousand and 700 yuan has been received from the Ministry of social security and the total amount of social security reimbursement by the government. The total amount of government subsidies has reached 10% of the audited net profit of the company in the latest accounting year.

The total is 6 million 867 thousand and 700 yuan.

In this regard, mu Gadi said that according to the relevant provisions of "accounting standards for Enterprises No. 16 - government grants", the above government subsidies will be included in the company's current profits and losses, and will have a certain impact on the company's 2019 profit and loss. However, the specific accounting treatment and final impact on the company's profits and losses will be based on the results of the annual auditor's confirmation.