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Sanan Optoelectronics Controlling Shareholder's Creditor Withdraws Bankruptcy Application; Shares Rise 10%

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A creditor of Sanan Optoelectronics (SHA:600703) controlling shareholder Xiamen Sanan Electronics and indirect controlling shareholder Fujian Sanan Group withdrew her bankruptcy petition against the two entities, according to a Thursday filing with the Shanghai bourse.

A court in Xiamen granted creditor Lin Suzhen's petition, the filing said.

Sanan Optoelectronics said its operations remain independent of its controlling shareholder's.

Company shares jumped 10% during the morning session on Thursday.

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