Sanan Optoelectronics' de facto controller Lin Xiucheng has been detained, Sanan Group: a risk disposal plan has been formulated, actively seeking strategic partners.

After Lin Xiucheng, the actual controller of the LED chip leader Sanan Optoelectronics, was placed under investigation, a press conference was held at the headquarters of Sanan Group and Sanan Optoelectronics. On March 30, Sanan Group announced at the press conference that Lin Xiucheng, the Chairman, major shareholder, and actual controller of Sanan Optoelectronics, had been placed under control and investigation by the National Supervision Commission, prompting creditors to take judicial preservation measures. Sanan Optoelectronics stressed that Lin Xiucheng has not held any position at Sanan Optoelectronics since July 10, 2017, and has not been involved in the daily operation and management of the listed company for many years. This is an event regarding the actual controller himself, with no connection to Sanan Optoelectronics, and will not have a significant adverse impact on the company's production, operation, and future development.