Ankai and its Subsidiaries Received a Total Amount of 54.29 Million Governmental Grants

According to its announcement made on Sept. 25, from Jan. 1 to Sept. 24 this year, Anhui Ankai Automobile Co., Ltd. Together with its four subsidiaries, namely Anhui JAC Bus Co., Ltd., Anhui Ankai Jinda Machinery Manufacturing Co., Ltd. and Anhui Ankai Futian Shuguang Axle Co., Ltd., received a total of 54.2896 million RMB grants from governments. The parent company, Ankai received a total amount of 51.8105 million RMB grants, including 40 million RMB for research and development, 7.28 million RMB for industrial upgradation, and 1.0913 million RMB for subsidies. It"s subsidiaries, JAC Bus got a total amount of 1.8214 million grants from governments, Ankai Jinda 249,000 RMB, and Ankai Axle 408,700 RMB.

According to the related accounting regulations, all the governmental grants have been calculated as 48.68 million RMB deferred income and 5.6096 million RMB non-operating income. In total, they account for 23.83% of the net income attributed to shareholders of the parent company, shown from its consolidated financial statements, which have already been audited.