RoboSense Technology Co., Ltd — Regulatory Filings 2017

Jan 9, 2017

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

==> picture [373 x 149] intentionally omitted <==

＊

ANNOUNCEMENT IN RESPECT OF THE GOVERNMENT SUBSIDIES RECEIVED BY A WHOLLY-OWNED SUBSIDIARY

Luoyang Glass Company Limited* (the “ Company ”) and all members of the board (the “ Board ”) of directors (the “ Directors ”) of the Company warrant the truthfulness, accuracy and completeness of the contents of this announcement, and accept several and joint responsibilities for any false information, misleading statements or material omissions in this announcement.

On 6 January 2017, Bengbu China National Building Materials Information Display Materials Company Limited* (蚌埠中建材信息顯示材料有限公司) (“ Bengbu Company ”), a wholly-owned subsidiary of the Company, received the “Notice on the Allocation of Operating Funds for the Construction of Science and Technology Projects of Bengbu China National Building Materials Information Display Materials Company Limited” (Beng Chuangxinban [2016] No. 9) from the Office of the Leading Work Advancement Group (the “ Bengbu Municipal Innovation Office ”) for Independent Innovation Comprehensive Test Area of Bengbu Municipal of the People’s Republic of China (the “ PRC ”). According to such document, the Bengbu Municipal Innovation Office should arrange for payment of RMB10,000,000 from the Independent Innovation Special Funds to support Bengbu Company in the research and development of its two projects, namely “Research on the Production Technology of Wear-Resistant 3D Glass Substrate” and “Research on the Production Technology of the Industrialization of High Strength 0.2mm Electronic Glass”. As at 30 December 2016, Bengbu Company received full amount of the said funds.

– 1 –

The abovementioned two research and development projects were projects already set up and implemented by Bengbu Company in 2016. Research and development costs incurred in 2016 have already been included in the profit or loss of the current period of Bengbu Company. According to the relevant regulations of the PRC Accounting Standard for Business Enterprises, the abovementioned government subsidies are government subsidies relating to earnings, and Bengbu Company has confirmed a profit of RMB3,438,400 for the current period of Bengbu Company for 2016 according to the proportion of the research and development progress. The remaining will be included as deferred profits, which will be recorded in stages as profits in the subsequent years according to the progress of research and development. The specific accounting treatment shall be subject to the results of the annual audit of the accountant.

By order of the Board Luoyang Glass Company Limited Zhang Chong* Chairman

Luoyang, the PRC 9 January 2017

As at the date of this announcement, the Board comprises four executive Directors: Mr. Zhang Chong, Mr. Ni Zhisen, Mr. Wang Guoqiang and Mr. Ma Yan; three non-executive Directors: Mr. Zhang Chengong, Mr. Xie Jun and Mr. Tang Liwei; and four independent non-executive Directors: Mr. Jin Zhanping, Mr. Liu Tianni, Mr. Ye Shuhua and Mr. He Baofeng.

• For identification purposes only

– 2 –