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Source: Capital Secret News. Suspected of embezzlement by taking advantage of position and misappropriation of funds, the actual controller of Sanan Optoelectronics has been criminally detained.

On the evening of September 24, Sanan Optoelectronics (SHA: 600703) disclosed an announcement stating that on that day, the company received notice from the family member of the actual controller, Lin Xiucheng, that Lin Xiucheng was criminally detained by public security authorities on suspicion of embezzlement by taking advantage of position and misappropriation of funds.

It is reported that Sanan Optoelectronics (SHA: 600703) had previously disclosed on March 23, 2026, the "Announcement on the Company's Actual Controller Being Placed Under Residential Surveillance," stating that the company's actual controller, Lin Xiucheng, was placed under residential surveillance and subject to investigation by the supervisory authority.

Sanan Optoelectronics (SHA: 600703) stated that the company's production and operation management is currently normal. Lin Xiucheng has not held any position in the company since July 10, 2017. This matter is unrelated to the company and will not have a material impact on the company's production and operations.

Trading data shows that as of the close on September 24, Sanan Optoelectronics (SHA: 600703) shares were priced at 12.47 yuan per share, with a total market capitalization of 62.21 billion yuan.