Sanan Optoelectronics: Continues to receive Mini LED chip purchase orders from a single important international customer

On the evening of March 8, Sanan Optoelectronics announced that since the beginning of 2022, the company has continued to receive Mini LED chip purchase orders from a single major international customer, with an amount exceeding 170 million yuan, of which about 100 million yuan has been delivered in January-February 2022, and the remaining amount will be delivered to customers in March. The company has organized production capacity for products required by customers to actively meet customers' chip needs in March.

In addition, Sanan Optoelectronics also stated that the company's filter products have been certified by important international customers' smartphones, and the company's filter products are purchased through domestic ODM factories. The launch of this business marks that the company's filter products have officially entered the smartphone supply chain, laying a solid foundation for future product market development.

It is reported that at present, the company's production and operation are normal, and various businesses are carried out in an orderly manner. The progress of the above matters will have a positive impact on the company's first quarter of 2022 and lay the foundation for future business development; it will not affect the company's business independence, nor will it form a significant dependence on the order counterparty.

At the same time, Sanan Optoelectronics issued an announcement stating that according to the "Project Investment and Construction Contract" signed between the company and the Changsha High-tech Industrial Development Zone Management Committee, the Changsha High-tech Industrial Development Zone Management Committee agreed to allocate RMB 200 million in special technology research and development support funds to Hunan Sanan Semiconductor Co., Ltd. (hereinafter referred to as "Hunan Sanan"), a wholly-owned subsidiary of the company, in accordance with the contract. Hunan Sanan has received the amount on March 7, 2022.

In accordance with the provisions of "Enterprise Accounting Standard No. 16-Government Grants", the special technology research and development support funds received by Hunan San'an will be recognized as current income upon receipt, which will have a positive impact on the company's performance in the first quarter of 2022.