On the evening of July 3, Guanggang Iron and Steel Co., Ltd. announced that the company had received the notice from Guangzhou Finance Bureau of Guangzhou Municipal Finance Bureau on the adjustment of the financial subsidies for the LED project of Guangri Co., Ltd.

The "Notice" stated that the municipal finance plan originally planned to provide 100 million yuan of financial subsidies to the Guangzhou Guangri Co., Ltd. LED project in 2012 and 2013. It is now adjusted to pay a subsidy of 200 million yuan to the restructured Guangzhou before June 30, 2012. Steel Co., Ltd., the use of funds for LED projects.

Guanggang said it has received the above financial subsidy of 200 million yuan.

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