Topway Receives RMB 10 Mln in Government Subsidie
Cnstock, 10/13/10
Shenzhen-based cable TV operator Topway (002238.SZ) announced in a public filing today that will receive support from the Shenzhen municipal government's subsidy fund for internet industry development. Topway's network convergence-oriented DRM platform for digital media content and its DOCSIS 3.0 broadband access technology applications and trial coverage project will receive RMB 5 mln each in support. Topway said it would treat the government subsidies as deferred income, and will spread the funds out over an eight-year period from the time they become available, treating them as non-operating revenues that will bolster the company's profits by RMB 1.25 mln per year. At the time of the filing, Topway had not yet received the subsidy funds.
Keywords: convergence television Topway broadband access cable TV 002238.SZ government subsidy profit cable broadband
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