Milkground receives $1.9m in government subsidies
Shanghai Milkground Food Tech (SSE:600882) announced it has received government subsidies totaling RMB 13,728,388.76 (approximately $1.9 million USD). The company stated these subsidies relate to income and will be recognized as "Other Income" in its 2024 financial statements. The total amount of the subsidies represents 21.64% of the company's most recent audited net profit attributable to the parent company. The announcement clarified that these subsidies are related to the company's regular business activities, not tied to the purchase or construction of long-term assets. The company cautions investors that the exact impact on its financials will depend on the final audit by its accounting firm.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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