On the evening of September 28th, Xinguang Optoelectronics announced that they had recently received a “Notice of Case Filing” and a “Notice of Detention” issued by the Supervisory Committee of Song County, Luoyang, Henan regarding the company’s controlling shareholder, actual controller, chairman, and general manager Kang Weimin. Kang Weimin has been subjected to detention measures.
The announcement stated that the company had convened an extraordinary board meeting, with Vice Chairman Wang Yuwei acting as the chairman and legal representative, and Vice General Manager Qu Bo acting as the general manager. There has been no change in the company’s control, and the board of directors is functioning normally, with production and operation order being maintained.
Harbin Xinguang Optoelectronic Technology Co., Ltd. was established in November 2007 with a registered capital of 100 million yuan. It currently has more than 400 employees and is a listed company on the Science and Technology Innovation Board in the Northeast region. The company’s management headquarters is located in Harbin, with branches and research institutions in Beijing, Shenzhen, Huizhou, Wuhan, Xi’an, Luoyang, and Nanjing.
Public records show that Xinguang Optoelectronics is an important supplier of optical and electronic equipment for military industries in China, providing high-precision components, devices, systems, and solutions in optical guidance for weapon system development, optical targeting and scene simulation, specialized optical testing, and laser countermeasures.
According to Time Weekly, the development of Xinguang Optoelectronics is closely intertwined with the experiences of Kang Weimin and his father. Kang Weimin, born in 1966, is the son of Kang Songgao, who was involved in the establishment of the Optical Engineering Department at Harbin Institute of Technology. In 1990, Kang Songgao, along with Chu Zaixiang, Dai Jingmin, and others, developed China’s first standard silicon photovoltaic high-temperature thermometer. After graduating from Harbin Institute of Technology, Kang Weimin remained at the university to engage in optical research and teaching.
In September 2001, Kang Weimin was appointed as the director of the Institute of Optical Target Simulation and Testing Technology at Harbin Institute of Technology; in May 2016, he was further promoted to chairman of Harbin Xinguang Optoelectronic Technology Co., Ltd.; and in December 2018, he became chairman and general manager of Xinguang Optoelectronics.
Financial reports indicate that from 2022 to 2024, Xinguang Optoelectronics had operating incomes of 150 million yuan, 162 million yuan, and 172 million yuan respectively; with net profits attributable to the parent company of -24.67 million yuan, -39.17 million yuan, and -67.95 million yuan respectively. The company has been in a deficit for three consecutive years with increasing losses each year.
In the first half of 2025, Xinguang Optoelectronics reported operating income of 21.28 million yuan, a 58.77% year-on-year decrease; while net profits attributable to the shareholders of the listed company incurred a loss of 20.79 million yuan, representing a 16.35% decrease in net profit.
On September 26th, Xinguang Optoelectronics closed at 42.70 yuan per share, down by 1.32%, with a total market value of 4.27 billion yuan.