FINANCE

Chinese Chip Billionaire Arrested as Graft Probe Widens

Published: Oct. 26, 2026 7:11 p.m. GMT+8

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Lin Xiucheng

Chinese billionaire Lin Xiucheng, the actual controller of semiconductor maker Sanan Optoelectronics Co. Ltd. (600703.SH), has been arrested.

The arrest comes after former Chongqing Mayor Hu Henghua was placed under investigation for suspected corruption in March.

Sanan said Friday that Lin’s family had notified it of the arrest. The company said last month that police placed Lin under criminal detention on suspicion of embezzlement and misappropriation of corporate funds, after anti-graft authorities placed him under investigation in March.

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Chinese billionaire Lin Xiucheng, controller of Sanan Optoelectronics, arrested for embezzlement and misappropriation of corporate funds.
Former Chongqing Mayor Hu Henghua, under corruption investigation since March, supported Sanan’s semiconductor projects in Changsha and Chongqing.
Projects include a 16 billion yuan facility in Changsha and a $3.2 billion STMicroelectronics joint venture for 8-inch automotive chips.

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Who’s Who

Sanan Optoelectronics Co. Ltd.: Sanan Optoelectronics Co. Ltd. (600703.SH) is a Chinese semiconductor maker. Its actual controller, billionaire Lin Xiucheng, was arrested on suspicion of embezzlement and misappropriation of corporate funds. His son-in-law, general manager Lin Kechuang, was briefly detained. The case links to former Chongqing Mayor Hu Henghua’s corruption probe.

STMicroelectronics: STMicroelectronics is a Swiss chipmaker partnering with Sanan Optoelectronics on a $3.2 billion joint venture in Chongqing to produce 8-inch automotive-grade chips. This collaboration is linked to former Chongqing Mayor Hu Henghua, who was investigated for corruption.

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What Happened When

March 2026：: Anti-graft authorities placed Lin Xiucheng under investigation.

March 2026：: Former Chongqing Mayor Hu Henghua was placed under investigation for suspected corruption.

April 2026：: Lin Kechuang, Lin Xiucheng’s son-in-law and company general manager, was detained by anti-graft authorities.

September 2026：: Police placed Lin Xiucheng under criminal detention on suspicion of embezzlement and misappropriation of corporate funds, following the anti-graft investigation.