Sanan's non-public offering of no more than 208 million shares for investment in Wuhu project

Sanan Optoelectronics (600703) announced on the evening of May 27 that the company intends to apply for non-public issuance of no more than 208.6 million A shares. The company controlled by Lin Xiucheng, the company's actual controller, Fujian Sanan Group Co., Ltd. intends to subscribe for some of the shares of this non-public offering in RMB, and the shares subscribed for will not be transferred within 36 months from the end of the issuance.

Sanan Optoelectronics said that the funds raised will be used to invest in the construction of “Wuhu Photoelectric Industrialization (Phase II) Project” and “Supplementary Liquidity”, which is in line with the company’s overall development strategy and is more conducive to the company’s full scale effect and reduction. Production costs, enhanced profitability, further consolidate the company's industry position, continue to strengthen the company's comprehensive competitiveness in the global optoelectronic field; in line with the company's development goals and the interests of all shareholders, but also in line with the national emerging energy development strategy.