Tcl Shenzhen 8.5 Generation Line project received 1 billion subsidy

In just a few days, TCL Group (000100.SZ) in Shenzhen 8.5 generation LCD panel production line has been awarded a financial subsidy of 1.552 billion yuan. TCL Group announced today that the Guangdong Provincial Economic and Information Committee, the Guangdong Provincial Finance department approved to give the company a subsidiary of the financial aid of 1 billion yuan, the way to the Shenzhen government and the Huizhou government each allocated 500 million yuan.　　At present, Huizhou Finance Bureau agreed to allocate 500 million yuan of financial aid funds to the company.　　The announcement indicated that the subsidy fund will be mainly used for the 8.5 generation LCD panel Project of Shenzhen huaxing Photoelectric Technology Co., Ltd., which is jointly funded by TCL Group and Shenzhen Super Technology Investment Co., Ltd. according to 50:50 proportion.　　In Monday, TCL Group announced that TCL and its subsidiaries huaxing photoelectric received a total of 552 million of the Shenzhen municipal government financial special subsidy, this is the LCD panel project received the first government funds to support the project to accelerate the smooth completion.　　Tcl said the money had a positive impact on the company's cash flow and operating performance. In Shenzhen related departments of strong support, huaxing photoelectric 8.5-generation LCD panel production line project is progressing steadily, the current basic engineering is coming to an end, the main building is underway, is expected to start trial production in August 2011, the end of 2012 to achieve mass production.　　The total investment of the project is 24.5 billion yuan, is the third groundbreaking 8.5 generation panel production line in mainland China. In addition, TCL Group also for the project for the targeted additional, to raise 5 billion yuan, the program has been approved.　　Tcl Chairman Li pledged to subscribe 250 million ~4 billion yuan, large shareholder Huizhou Holdings also said to subscribe to 300 million yuan to 500 million yuan. Yesterday, TCL Group reported closed at 3.75 yuan, down 2.6%.