Shanghai, Feb 1, 2026, 10:33 (GMT+8) — Market closed
Sanan Optoelectronics’ A shares enter Monday as investors digest a revised 2025 earnings forecast alongside fresh details on pledged shares from its controlling shareholder. The stock’s last close was 16.16 yuan, slipping 0.68%. (MarketScreener)
This is crucial as China’s annual results season ramps up, with “performance forecasts” frequently shaping sentiment before the audited figures arrive. Narrowing loss estimates can anchor expectations, despite profits still falling in the red.
The pledge disclosure brings a new dimension. While share pledges are routine in China, they can become risky if prices fall, as the shares serve as collateral.
In a supplemental filing on Jan. 31, the company tightened its forecast for the 2025 net loss attributable to shareholders, now expecting a range of 200 million to 300 million yuan, down from the previous 200 million to 400 million yuan. It noted this is a preliminary estimate, with the final figure subject to the audited 2025 annual report. (Xueqiu Stock)
In a separate filing, controlling shareholder Xiamen Sanan Electronics Co., Ltd. pledged 40.7 million shares to Xizang Trust Co., Ltd., while lifting pledges on 74.95 million shares that had been tied up with Xiamen International Trust Co., Ltd. and Hangzhou Yuncun Technology Co., Ltd. Post-transactions, Sanan Electronics still had 565.15 million shares pledged—46.56% of its holdings. Combined with Fujian Sanan Group Co., Ltd., the two shareholders have 734.49 million shares pledged, roughly half of their total stake. The filing also notes that 43.2 million of these pledged shares mature within six months, linked to 300 million yuan in financing, while 454.05 million shares are due within a year, connected to about 3.30 billion yuan. (Xueqiu Stock)
Sanan Optoelectronics produces LED epitaxial chips and develops compound semiconductor materials and devices, including gallium nitride, gallium arsenide, and silicon carbide. The company also operates an investment management segment. (Reuters)
Shanghai Stock Exchange rules require companies to release annual reports within four months after their fiscal year ends. The audited report will serve as the next critical marker for the company’s projected loss in 2025. (Shanghai Stock Exchange)
Traders are on alert for further disclosures clarifying the loss-range adjustment and any additional pledge rollovers as financing deadlines approach. Meanwhile, bigger moves in mainland chip stocks might drive price action.
One risk remains: the forecast hasn’t been audited yet. If the final number falls short of the revised range, the stock could see a swift repricing. Pledged-share structures also tend to feel more precarious when prices drop.
The next session on Feb 2 is the immediate catalyst. Following that, all eyes turn to the audited 2025 annual report and any related updates on demand, pricing, and cash requirements.
