Lianchuang Optoelectronics announced that because its controlling shareholder, Jiangxi Electronics Group, non-operationally occupied 1.692 billion yuan of company funds and the amount has still not been returned after nearly one month, the company's shares will be suspended for one day on September 29, 2026. After trading resumes on September 30, 2026, other risk warnings will be imposed, and the A-share abbreviation will be changed to ST Lianguang. The company said Jiangxi Electronics Group is experiencing a debt crisis, resulting in 1.692 billion yuan of occupied funds still not returned as of the announcement date, with the specific amount subject to the results of the China Securities Regulatory Commission's investigation. Under Shanghai Stock Exchange listing rules, if a company's funds are non-operationally occupied by its controlling shareholder and related parties in an amount reaching 5 percent or more of the latest audited net asset value, or exceeding 10 million yuan, and the company fails to complete repayment or rectification within one month, the exchange will impose other risk warnings on its shares. Lianchuang Optoelectronics said the board and management are making every effort to urge Jiangxi Electronics Group to formulate a repayment plan for the occupied funds as soon as possible, while also broadening financing channels through multiple means, negotiating extensions and adjusted repayment plans with creditors, actively advancing relevant legal procedures, and intensifying collection efforts on receivables. The company's main business is the research, development, production and sales of laser products and traditional LED chip products, intelligent control products, backlight sources and application products, optoelectronic communication and intelligent equipment cables, and metal material products. Recently the company's share price has been weak, falling for five consecutive trading days, down 17.23 percent cumulatively since September, and down more than 70 percent for the year to date.
Jiangxi Lianchuang Opto-electronic Science & Technology Co LtdControlling shareholder's 1.692 billion yuan non-operational fund occupation triggers one-day suspension and ST designation under SSE listing rules.
