Xiamen State-owned Assets took over, and the transfer of the auctioned shares of Fujian Sanan Group was completed

On June 3, Sanan Optoelectronics announced that the transfer registration of the 74.27 million unrestricted shares that were auctioned by the company’s indirect controlling shareholder Fujian Sanan Group Co., Ltd. has been completed.

After this equity change, Sanan Group’s direct shareholding ratio dropped from 5.14% to 3.66%. The total shareholding ratio of Sanan Group and its controlling shareholder Xiamen Sanan Electronics Co., Ltd. dropped from 27.79% to 26.30%, touching the 1% scale change line, but the company’s control rights did not change.

From the perspective of the transferee, Xiamen International Trade Innovation Investment Co., Ltd. became the largest buyer of this auction with 63.0937 million shares transferred, accounting for 1.26% of the total share capital.

Xiamen Guomao Innovation Investment Co., Ltd. is affiliated to Xiamen Guomao Holding Group Co., Ltd., which is a state-owned enterprise group directly under the administration of Xiamen City. Its business covers supply chain, real estate, finance, manufacturing and emerging industries.

In addition to Xiamen Guomao Innovation Investment Co., Ltd., natural persons Zhong Ge, Zhao Liangsi, Xu Jida, Li Lidan, and Sheng Weili also bid for some shares. Zhong Ge received 4 million shares, Zhao Liangsi received 2.4 million shares, and the remaining three individuals each received 1.08 million to 2.5 million shares.

Sanan Optoelectronics emphasized in the announcement that this change in equity is a passive reduction of holdings by the controlling shareholder, does not involve a tender offer, will not lead to a change in the company's control, and will not have a significant impact on the company's governance structure and ongoing operations.