24, San'an Optoelectronics announced that the company received a notice from the family of Mr. Lin Xiucheng, the actual controller, that Mr. Lin Xiucheng was detained by the public security organs on suspicion of embezzlement and misappropriation of funds.
At the same time, San'an Optoelectronics said that Lin Xiucheng had not held any position in the company since July 10, 2017, and that the matter had nothing to do with the company and would not have a significant impact on the company's production and operation. At present, the company's production, operation and management are normal.
Previously, on March 23, 2026, San'an Optoelectronics disclosed that Lin Xiucheng, the actual controller of the company, was detained and investigated by the supervisory organ. Then on April 7, Lin Kechuang, vice chairman and general manager of San'an Optoelectronics, was detained and placed on file for investigation by the Chongqing Yuzhong District Supervisory Committee.
In addition, on the evening of June 11, San'an Optoelectronics announced that its controlling shareholder, Xiamen San'an Electronics Co., Ltd. (Hereinafter referred to as "San'an Electronics"), was applied for bankruptcy reorganization by creditor Lin Suzhen to Xiamen Intermediate People's Court of Fujian Province. On the evening of September 24, San'an Optoelectronics further disclosed that it had received a notice from the controlling shareholder, San'an Electronics, that its shares in the company were frozen.
As of September 23, 2026, the controlling shareholder San'an Electronics and the indirect controlling shareholder Fujian San'an Group Co., Ltd. (Hereinafter referred to as "San'an Group") had been judicially frozen 1,312,270,880 shares, with a shareholding ratio of 26.30%. The total number of frozen shares has reached 539.79% of the shares held by the two shareholders (141.98% of the total share capital).
Data show that San'an Optoelectronics was established in March 1993 in Jingzhou, Hubei Province, and listed on the Shanghai Stock Exchange in May 1996. It is mainly engaged in the research and development, production and sales of compound semiconductor materials and devices, with epitaxial wafers and chips involved in new compound semiconductor materials such as gallium arsenide as its core business. In the photovoltaic track, San'an Optoelectronics, on the one hand, through its subsidiary Tianjin San'an, develops GaAs batteries for satellites to develop space photovoltaics ; On the other hand, it is the silicon carbide device of Hunan San'an, which supplies photovoltaic inverter manufacturers in batches to provide core support for ground photovoltaic storage equipment. In the first half
of 2026, the Company realized a revenue of RMB 6.468 billion, a year-on-year decrease of 28.04%; the net profit attributable to the parent company was RMB -97.9045 million, a year-on-year decrease of 155.47%, turning from profit to loss . The company said it had raised the price of some LED chips, radio frequency, power electronics and optical technology chips, but the profits of main industries such as filters and silicon carbide had not improved.
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