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Sanan Optoelectronics has issued a statement revealing that on October 23, it was notified by the family of its actual controller, Lin Xiucheng, that he had been formally approved for arrest by the prosecutorial authorities. The arrest is on suspicion of embezzlement (specifically, occupational embezzlement) and the misappropriation of funds. Despite these developments, the company assures that its production, operations, and management continue to function normally. It is important to note that Lin Xiucheng has not occupied any position within the company since July 10, 2017. Consequently, the company emphasizes that this matter is not related to its operations and will not have a significant impact on its ongoing production and business activities.
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