Recently, the founding partner of the Chongqing Jingsheng Law Firm, Peng Jing, known as the “Red Rooftop Lawyer,” has gone missing, which has brought to light several high-ranking officials including former Chongqing Mayor Hu Henghua. The core focus of this case revolves around the involvement of Fujian businessman Lin Xiucheng, known as the “LED King of China,” in a massive bribery scheme.
Lin Xiucheng, the controlling shareholder of San’an Optoelectronics, a leading semiconductor company in Xiamen, Fujian Province, has been rising for over 30 years. Despite his involvement in a bribery case ten years ago, he managed to avoid consequences back then, as many of his influential connections were in Zhongnanhai. However, he is now caught in the legal net. What is the story behind this sudden turn of events?
On March 20, Chongqing Mayor Hu Henghua was investigated. The following day, on March 21, Lin Xiucheng, the former richest man in Xiamen and the controlling shareholder of San’an Optoelectronics, was taken into custody.
On the evening of April 8, San’an Optoelectronics announced that its vice chairman and general manager, Lin Kechuang, was also detained. Lin Kechuang is Lin Xiucheng’s son-in-law.
On April 14, Luo Lin, a member of the Chongqing Municipal Committee of the Communist Party of China and the secretary of the Liangjiang New Area Committee, was taken away and officially announced to have fallen from grace on April 17. On April 19, Peng Jing, the founding partner and director of Chongqing Jingsheng Law Firm, who is the daughter of an official and a member of the National Committee of the Chinese People’s Political Consultative Conference, was taken away. A report from Caixin revealed her ties with Luo Lin.
The key point of the report relates to Peng Jing’s role in the bribery case involving San’an Optoelectronics.
In the case involving Hu Henghua, Lin Kechuang, Lin Xiucheng’s son-in-law, gave Hu Henghua 30.8 million USDT (approximately 210 million RMB, with 10 million being a handling fee exchange). After Hu Henghua was investigated, the flow of funds from the other six cold wallets held by Lin Kechuang was traced; among them, a transfer of 15.5 million USDT that was made simultaneously with Hu Henghua was reportedly given to Luo Lin by Lin Kechuang. Investigators found a cold wallet at Peng Jing’s residence that had an “unusual relationship” with Luo.
The connection between Hu Henghua, a native of Hunan, and Fujian businessman Lin Xiucheng dates back to their time in Hunan.
Hu Henghua served as a member of the Standing Committee of the Hunan Provincial Party Committee and the Party Committee Secretary of the Hunan State-Owned Assets Supervision and Administration Commission in November 2016, the Party Committee Secretary of Changsha City in July 2017, the Deputy Party Committee Secretary of the Shaanxi Provincial Party Committee in October 2020, and was officially appointed as the Mayor of Chongqing in January 2022. While Hu Henghua served as the Party Committee Secretary of Changsha City and Mayor of Chongqing, San’an Optoelectronics conducted major projects in both locations, and Hu personally supported San’an Optoelectronics on multiple occasions.
On June 8, 2023, San’an Optoelectronics and STMicroelectronics signed an agreement to cooperate on an 8-inch Silicon Carbide (SiC) project in Chongqing. This signing ceremony was attended by top officials such as Yuan Jiajun, the Party Committee Secretary of Chongqing, Hu Henghua, the Mayor of Chongqing, Jiang Duntao, the Deputy Mayor of Chongqing, Luo Lin, the Secretary of the Liangjiang New Area, Zhang Anjiang, the Director of the Public Security Bureau, Lin Xiucheng, the Chairman of San’an Group, Lin Zhiqiang, the Chairman of San’an Optoelectronics, Lin Kechuang, the General Manager, as well as relevant executives from STMicroelectronics.
Among the high officials present at the signing ceremony, Hu Henghua, Jiang Duntao, and Luo Lin have all since been removed, and Zhang Anjiang died under suspicious circumstances on May 7th.
Looking back at Lin Xiucheng’s rise to prominence, the San’an Optoelectronics political-business case involved not only the Chongqing officialdom.
Lin Xiucheng, who hails from Anxi County, Quanzhou City, Fujian Province, initially made a fortune by trading scrap steel scraps. After earning his first bucket of gold through cooperation with Sanming Iron and Steel Factory, he co-founded San’an Group Co., Ltd. together with a state-owned enterprise in 1992. San’an Optoelectronics was established in November 2000, headquartered in Xiamen, Fujian Province, specializing in the manufacturing of LED and other semiconductor products. LED (Light Emitting Diode) is a solid-state semiconductor device that can directly convert electrical energy into light energy.
In 2004, San’an Group’s headquarters were relocated from Anxi to Xiamen. In 2008, San’an Optoelectronics went public through a backdoor listing on the Shanghai Stock Exchange. At that time, Lin Xiucheng began to be known as the “LED King of China.”
In 2010, Lin Xiucheng became the richest man in Xiamen according to the Forbes list of billionaires. In 2015, father and son Lin accumulated assets worth 34 billion RMB, leaping to the top of the Hurun Rich List as the wealthiest family in Fujian Province.
In July 2017, Lin Xiucheng stepped down as the Chairman of San’an Optoelectronics, and his eldest son Lin Zhiqiang took over. The 2026 Hurun Global Rich List shows that Lin Xiucheng and his son Lin Zhiqiang rank third among the richest individuals in Xiamen with a fortune of 16 billion RMB. Lin Xiucheng’s second son, Lin Zhidong, and his son-in-law Lin Kechuang also hold key positions within the San’an Group.
In early March 2026, the Lin family caught the attention due to their investment in the unicorn company Guangluo Intelligent through the family office “Dingbang Investment.”
However, this prosperous scene took a sudden turn in March 2026. From late March to early April, Lin Xiucheng and his son-in-law Lin Kechuang were successively arrested within a month.
A leak during a downpour. On April 25, San’an Optoelectronics announced its 2025 performance, showing an annual revenue of approximately 17.949 billion RMB and a net loss of approximately 353 million RMB, a staggering 239.7% year-on-year decline. This was the first time the leading LED company had incurred a loss in its 18 years of being listed, causing shockwaves in the market as its stock price plummeted continuously.
The bad news didn’t end there. Just days before San’an Optoelectronics announced its annual performance, the acquisition of Lumileds Holding B.V., a Dutch LED giant, was terminated due to national security concerns raised by U.S. regulatory authorities. This resulted in the collapse of their vision to expand overseas production capacity and channels.
Furthermore, Lin Xiucheng, under the detention of the National Supervisory Commission of the Communist Party of China, had all his shares in San’an Optoelectronics held by Xiamen San’an Electronics Co., Ltd. and Fujian San’an Group Co., Ltd. frozen by the judiciary, facing mandatory disposal by the Chongqing court.
San’an Optoelectronics is now facing an unprecedented and severe situation.
Prior to this bribery case involving the Chongqing officials, San’an had been involved in similar cases multiple times in its history, two of which had a seismic impact.
One involves the case of Zheng Yunfeng in Xiamen.
Zheng Yunfeng, a native of Nan’an, Fujian, served as the Deputy Secretary of the Xiamen Municipal Party Committee and the Deputy Mayor of Xiamen City starting from June 2015, and was detained in August 2016. On January 10, 2019, he was sentenced to 10 years and 6 months in prison for bribery. He was accused of seeking benefits with multiple businessmen on matters such as project land use, preferential policies, land requisition and demolition, corporate tax refunds, and headquarters economic support, with major bribe givers including Lin Xiucheng, Chairman of Fujian San’an Group, part of the bribes relayed through his wife.
However, Lin Xiucheng, as a bribe giver, did not face criminal punishment at that time.
Another case is that of Wang Sanyun and Chen Shulong.
On July 11, 2017, Wang Sanyun, then Vice Chairman of the National People’s Congress, was investigated. It was officiall…
Amidst these extensive investigations and revelations, the intertwining relationships of officials and businessmen like Lin Xiucheng and the controversies surrounding San’an Optoelectronics continue to paint a complex picture of power, influence, and corruption within the Chinese political and business landscape.