That's true, but they still own a lot of the tech Saab uses.
"On 6 December 2011, GM announced that it would not continue transferring its technology to SAAB if the company had been sold to Pang Da Automobile Trade and Zhejiang Youngman Lotus Automobile since the operation is not in the best interest of GM investors and would cause the Chinese company to unfairly gain access to GM intellectual property. Because of this, Saab started working on a new proposal which wouldn't change the original ownership structure and not include a Chinese partner as an owner of the company, but instead as a 50% owner of a new daughter company.
On 19 December 2011, General Motors continued to block any form of involvement with a Chinese partner because under the new SAAB-Youngman agreement Youngman would still be able to swipe GM IP. Saab officially filed for bankruptcy after a three-year fight for survival, bringing a 64-year-long chapter in Swedish industrial history to an end.[10] Youngman has expressed interest in buying the company and continue production.[72]"