Sanan Optoelectronics announced that it received a notice from the controlling shareholder Sanan Electronics on July 23 that its 8.7 million shares of the company were pending freezing by the Taxation Bureau of the Xiamen Torch High-tech Industrial Development Zone of the State Administration of Taxation on July 22, accounting for 0.77% of its shares and 0.17% of the company's total share capital. As of July 22, a total of 1,312 billion shares of Sanan Electronics and Sanan Group have been judicially frozen, accounting for 100% of their shares and 26.30% of the company's total share capital. This pending freeze is a tax-related matter and does not affect the company's control and operation. If not properly resolved, there is a risk that it will affect the stability of control rights.

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