Xiangyang bearing (000678) on Monday announced that the company received Xiangyang Hi-tech Industrial Development Zone disbursed funds 19,119,700 yuan for the project tricyclic Xiang-axis industrial park, including plant, equipment purchase and renovation and other construction-related relocation expenditure.

Xiangyang bearing, said the company has received its first 9.5 million yuan of industrial development fund, will be determined as deferred income.