The case that Sanan Optoelectronics takes a stake in Taiwan's Formosa Epitaxy was suspended because the scandal that the financial statements of Sanan are unclear was exposed in this April.

Industrial Development Bureau (IDB) of Ministry of Economic Affairs (MOEA) will reconvene the special review meeting, and the results will be handed over to the Investment Commission of MOEA, the cooperative case has not been canceled. Fengren Jane, chairman of FOREPI, pointed out that the schedule of this case is still unclear, and it is still waiting for the results.

The case that Sanan takes a stake in FOREPI has shocked the cross-strait LED industry, FOREPI intends to issue 120 million shares of private equity at about NTD 19.6 per share, and the total maximum amount is not more than NTD 2.352 billion to introduce capital from Xiamen Sanan. The share capital of FOREPI after the capital increase is about NTD 6.016 billion, then Sanan accounts for 19.9% of the share of FOREPI to be the single largest institutional shareholder, its proportion will be higher than 15% of the current largest institutional shareholder.

However, due to the negative impact of the rumor exposed in this April that the financial statements of Sanan are unclear, Taiwan Investment Commission suspended this investment case expected to pass in April.

Recently, as the two sides signed the Service Trade Agreement, it has been rumored that Taiwan Ministry of Economic Affairs will reconsider the case that Sanan takes a stake in FOREPI.