Xiamen billionaire, controlling shareholder of the A-share LED chip leader with a market value of 80 billion, is under investigation.

On March 22, Sanan Optoelectronics announced that the company received a notification from Fujian Sanan Group Limited on March 21, 2026, stating that Fujian Sanan Group Limited recently received a notice from the National Supervision Commission regarding the detention and investigation of the actual controller of the company, Lin Xiucheng. The company stated that Lin Xiucheng has not held any position in the company since July 10, 2017. Currently, the company's production and operation management situation is normal. The company has a sound organizational structure and a standardized governance system, and will continue to operate in accordance with the laws, regulations, and rules such as the Company Law, the Shanghai Stock Exchange Stock Listing Rules, the Corporate Governance Guidelines for Listed Companies, and the Company's Articles of Association. The above-mentioned matters will not have a significant impact on the company's production and operation.