Sanan Optoelectronics announced on the evening of September 24 that it had received notice from the family of its actual controller, Lin Xiucheng, that he had been criminally detained by public security authorities on suspicion of embezzlement and misappropriation of funds. The company stated that Lin Xiucheng has not held any position at the company since July 10, 2017, and that this matter is unrelated to the company and will not have a significant impact on its production and operations. On March 23 this year, Sanan Optoelectronics disclosed that Lin Xiucheng had been placed under lien and investigation by supervisory authorities; this announcement is a related progress update. On April 7 this year, the company's vice chairman and general manager, Lin Kechuang, who is Lin Xiucheng's son-in-law, was also placed under lien and investigation by the Chongqing Yuzhong District Supervisory Committee. Lin Xiucheng is a native of Anxi, Quanzhou, Fujian, who started out in the steel business and founded Sanan Optoelectronics in 2000. He stepped down as chairman in July 2017 and was succeeded by his eldest son, Lin Zhiqiang. In the first half of 2026, Sanan Optoelectronics achieved revenue of approximately 6.5 billion yuan, down 28.04 percent year on year, with a net loss of 97.9 million yuan. As of the latest trading day, the stock price was 12.47 yuan per share, giving a total market value of 62.213 billion yuan.
Sanan Optoelectronics Co LtdActual controller Lin Xiucheng criminally detained on suspicion of embezzlement and misappropriation of funds, a legal/regulatory development for the company.
