Sanan Optoelectronics Gains 420 Million Yuan From Its Controlling Shareholder

- May 31, 2018 -

In yesterday(30th May), Sanan Optoelectronics Co., Ltd. (hereinafter referred to as “Sanan Optoelectronics” or “the Company”) announced that as of May 30, 2018, the company’s shareholder Sanan Group has cumulatively increased its shareholding in the company’s shares. 20,710,405 shares, increased holdings of 421,795,100.40 yuan, accounting for approximately 0.51% of the company's total share capital.

Prior to this shareholding increase plan, Sanan Group held a share of Xiamen Sanan Electronics Co., Ltd. at 100%, Xiamen Sanan Electronics Co., Ltd. held a share of approximately 29.76%, and Sanan Group held the The company's equity ratio is approximately 7.86%, with a total shareholding ratio of approximately 37.63%. Sanan Group is a controlling shareholder of the company.

According to the plan of increasing shareholding, based on the confidence in the future sustainable development of Sanan Optoelectronics, within 3 months from May 2, 2018, the cumulative increase in the shareholding of Sanan Group (including this increase in holdings) is not less than 5 100 million yuan, not more than 1.5 billion yuan, and the cumulative increase in shareholding does not exceed 2% of the company's total issued shares. If during the period of implementation of the plan for increasing shareholdings, the listed company’s stock is suspended for more than 10 trading days due to the planning of major issues, the shareholding increase plan shall be postponed and promptly disclosed after the shares are resumed.

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