BDStar Wins RMB 12 Mln Shipping Navigation Subsidy

Shenzhen Stock Exchange, 10/17/12

Beijing Chinese satellite navigation and positioning products provider Beijing BDStar Navigation (002151.SZ) has announced that the company's wholly owned water-transport navigation focused subsidiary, BDStar Information Service, has received an RMB 12 mln subsidy from the Chinese government's "Southern China Sea Smart-Shipping Positioning Project." BDStar Information has already received RMB 3 mln in subsidies from the project this year. The additional RMB 12 mln will be received at the end of the year.

China's "South China Smart-Shipping Positioning Project" will distribute RMB 30 mln in subsidies to establish more effective navigation and GPS positioning platforms for shipping routes in the South China Sea. The program will take place from 2011 to 2014. BDStar Information will use the subsidies from the program to develop a GPS positioning terminal for use in shipping route monitoring.

Keywords: government subsidy navigation satellite wireless GPS BDStar Navigation 002151.SZ logistics

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