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Sanan Optoelectronics Chair Buys Shares; Vice Chair Under Detention

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Sanan Optoelectronics (SHA:600703) said Chair Lin Zhiqiang has purchased 1.0 million shares for 15.0 million yuan, under his planned buyback program of between 20 million yuan and 40 million yuan of shares.

However, Vice Chair and General Manager Lin Kechuang has yet to execute his planned purchase of up to 10 million yuan in shares as Lin was placed under detention by authorities, according to a Thursday filing with the Shanghai bourse.

Shares of the semiconductor and optoelectronics company were down 1% in recent trade.

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