图片来源：视觉中国（资料图） 每经编辑｜段炼 延绵多日的"安世半导体风波"，迎来重要进展。 11月19日，荷兰经济事务与气候政策部大臣Vincent Karremans（文森特·卡雷曼斯）在社交媒体上公开发布声明称："鉴于近期事态发展，我认为当前正是 采取建设性举措的恰当时机——在与欧洲及国际伙伴密切磋商后，暂停我根据商品供应法对安世所下达的部长令。" 然而，随后闻泰科技（600745.SH）发布公告称，荷兰法院裁决仍有效，公司对安世的控制权仍然受限。 闻泰科技：法庭裁决仍有效 对安世的控制权仍受限 11月19日晚间，闻泰科技发布公告称，虽然上述部长令（Order）被宣布暂停，但2025年10月7日（荷兰时间）企业法庭裁决依旧处于生效状态，其效力并 未受暂停的部长令任何影响，公司10月13日公告说明的企业法庭的所有紧急措施还在进行中，公司对安世的控制权仍然处于受限状态，请广大投资者注意 投资风险。 荷兰经济事务与气候政策部大臣声明中所指暂停的部长令是指2025年9月30日（荷兰时间）荷兰经济事务与气候政策部对安世所下达的部长令（Order）， 该部长令要求安世及其下属所有子公司、分公司、办事处等全球30个主体 ...

11月19日晚间，商务部在答记者问中披露，11月18日和19日，中荷双方政府部门在北京就安世半 导体问题举行了两轮面对面磋商。在磋商中，中方再次强调，造成当前全球半导体产供链混乱的 源头和责任在荷方，敦促荷方切实采取实际行动，迅速且有效推动安世半导体问题早日解决，恢 复全球半导体产供链的安全与稳定。荷方主动提出，暂停荷经济大臣根据《货物可用性法案》签 发的行政令。 中方对荷方主动暂停行政令表示欢迎，认为这是向妥善解决问题的正确方向迈出的第一步，但 距离解决全球半导体产供链动荡和混乱的根源"撤销行政令"还有差距。同时，在荷经济部推动 下的企业法庭剥夺闻泰科技对荷兰安世控制权的错误裁决，仍是阻碍问题解决的关键所在，希 望荷方继续展现与中方真诚合作的意愿，真正提出建设性解决问题的方案。双方同意应取消行 政干预，支持和推动企业通过协商依法解决内部纠纷，既保护投资者的合法权益，也为恢复全 球半导体产供链安全与稳定创造更有利的条件。 当日稍早前，荷兰经济事务与气候政策部大臣Vincent Karremans（文森特·卡雷曼斯）在社交媒 体上公开发布声明称："鉴于近期事态发展，我认为当前正是采取建设性举措的恰当时机——在 ...

Core Viewpoint - Wentech Technology announced that its control over Nexperia remains restricted despite the Dutch government's recent suspension of intervention measures [2][6]. Group 1: Company Situation - Wentech Technology reported that the Dutch Minister of Economic Affairs and Climate Policy's suspension of the ministerial order, which was effective until September 30, 2025, does not affect the ongoing court ruling that restricts the company's control over Nexperia [6]. - The company emphasized that it will continue to communicate with international legal teams to explore legal remedies and protect the rights of shareholders [6]. - Nexperia's revenue was approximately 14.7 billion yuan last year, and Wentech Technology warned of potential risks to revenue, profit, and cash flow if control is not restored by the end of 2025 [6]. Group 2: Market Reaction - Since entering the fourth quarter, Wentech Technology's stock price has experienced fluctuations, closing at 42.3 yuan per share with a total market capitalization of 52.6 billion yuan as of November 19 [7]. Group 3: Industry Context - The Dutch government announced the suspension of intervention measures against Nexperia, which was seen as a step towards resolving the semiconductor supply chain issues [8]. - Recent discussions between Chinese and Dutch government departments highlighted the need for constructive solutions to restore stability in the global semiconductor supply chain [10].

Core Viewpoint - The control of Nexperia by Wentech Technology remains limited despite the recent suspension of intervention measures by the Dutch government [3][7][11]. Group 1: Company Updates - On November 19, Wentech Technology announced that its control over Nexperia is still in a restricted state [3][8]. - The Dutch Minister of Economic Affairs announced the suspension of a ministerial order that previously restricted Nexperia's operations globally, effective until September 30, 2025 [7][11]. - Despite the suspension of the ministerial order, a court ruling from October 7, 2025, which limits Wentech's control over Nexperia, remains in effect [7][8]. Group 2: Financial Implications - Nexperia reported a revenue of approximately 14.7 billion yuan last year [8]. - Wentech Technology indicated that if control over Nexperia is not restored by the end of 2025, it may face risks of revenue, profit, and cash flow adjustments [8]. Group 3: Market Reaction - As of November 19, Wentech Technology's stock price was 42.3 yuan per share, with a total market capitalization of 52.6 billion yuan [9].

据商务部网站消息，有记者问：有关安世半导体问题，中国和荷兰之间近期的磋商情况如何？ 对此，商务部回应道：11月18日和19日，中荷双方政府部门在北京就安世半导体问题举行了两轮面对面磋商。在磋商中，中方再次强调，造成当前全球半 导体产供链混乱的源头和责任在荷方，敦促荷方切实采取实际行动，迅速且有效推动安世半导体问题早日解决，恢复全球半导体产供链的安全与稳定。荷 方主动提出，暂停荷经济大臣根据《货物可用性法案》签发的行政令。 中方对荷方主动暂停行政令表示欢迎，认为这是向妥善解决问题的正确方向迈出的第一步，但距离解决全球半导体产供链动荡和混乱的根源"撤销行政 令"还有差距。同时，在荷经济部推动下的企业法庭剥夺闻泰科技对荷兰安世控制权的错误裁决，仍是阻碍问题解决的关键所在，希望荷方继续展现与中 方真诚合作的意愿，真正提出建设性解决问题的方案。双方同意应取消行政干预，支持和推动企业通过协商依法解决内部纠纷，既保护投资者的合法权 益，也为恢复全球半导体产供链安全与稳定创造更有利的条件。 而针对此前外媒报道的荷兰归还安世控制权的报道，闻泰发布最新公告表示，仍然受限。 闻泰表示， 前期闻泰科技股份有限公司 （以下简称 "公司 ...

Core Points - The Chinese government emphasizes that the root cause of the current global semiconductor supply chain disruption lies with the Netherlands, urging the Dutch side to take effective actions to resolve the issue of ASML [2] - The Dutch government has voluntarily suspended the administrative order issued by the Dutch Minister of Economic Affairs regarding ASML, which is seen as a positive step towards resolving the issue [3] - Both parties agree on the need to eliminate administrative interventions and support companies in resolving internal disputes through negotiation, aiming to protect investors' rights and restore stability in the global semiconductor supply chain [2] Summary by Sections - **China-Netherlands Negotiations**: Two rounds of face-to-face consultations were held in Beijing on November 18 and 19 regarding ASML, with China reiterating the need for the Netherlands to take responsibility for the supply chain chaos [2] - **Dutch Response**: The Dutch Minister of Economic Affairs announced the suspension of the administrative order concerning ASML, which is viewed as a step in the right direction, although further actions are needed to fully address the root causes [3] - **Future Cooperation**: Both sides have agreed to cancel administrative interventions and promote resolution of disputes through legal negotiations, which is expected to create favorable conditions for restoring the semiconductor supply chain [2]

11月19日晚间，商务部在答记者问中披露，11月18日和19日，中荷双方政府部门在北京就安世半导体问题举行了两轮面对 面磋商。在磋商中，中方再次强调，造成当前全球半导体产供链混乱的源头和责任在荷方，敦促荷方切实采取实际行动， 迅速且有效推动安世半导体问题早日解决，恢复全球半导体产供链的安全与稳定。荷方主动提出，暂停荷经济大臣根据 《货物可用性法案》签发的行政令。 中方对荷方主动暂停行政令表示欢迎，认为这是向妥善解决问题的正确方向迈出的第一步，但距离解决全球半导体产供链 动荡和混乱的根源"撤销行政令"还有差距。同时，在荷经济部推动下的企业法庭剥夺闻泰科技对荷兰安世控制权的错误裁 决，仍是阻碍问题解决的关键所在，希望荷方继续展现与中方真诚合作的意愿，真正提出建设性解决问题的方案。双方同 意应取消行政干预，支持和推动企业通过协商依法解决内部纠纷，既保护投资者的合法权益，也为恢复全球半导体产供链 安全与稳定创造更有利的条件。 当日稍早前，荷兰经济事务与气候政策部大臣Vincent Karremans（文森特·卡雷曼斯）在社交媒体上公开发布声明称："鉴于 近期事态发展，我认为当前正是采取建设性举措的恰当时机——在与欧洲 ...

Core Points - The Chinese Ministry of Commerce welcomed the Netherlands' decision to suspend the administrative order issued by the Dutch Economic Minister under the "Goods Availability Act" as a positive step towards resolving the issues surrounding ASML [1][2] - China emphasized that the root cause of the current global semiconductor supply chain disruption lies with the Netherlands and urged the Dutch side to take concrete actions to resolve the ASML issue promptly [1][2] - The Chinese side pointed out that the erroneous ruling by the Dutch Economic Ministry's corporate court, which stripped Wingtech Technology of its control over ASML, remains a significant obstacle to resolving the issue [2] Summary by Sections Negotiation Status - Two rounds of face-to-face consultations were held between Chinese and Dutch government departments regarding ASML on November 18 and 19 [1] - The Dutch side proactively proposed to suspend the administrative order, which was welcomed by the Chinese side as a step in the right direction [2] Root Cause and Responsibility - China reiterated that the responsibility for the chaos in the global semiconductor supply chain lies with the Netherlands [1] - The Chinese side called for the Dutch government to take effective actions to restore the safety and stability of the global semiconductor supply chain [1][2] Future Cooperation - Both sides agreed to eliminate administrative interventions and support companies in resolving internal disputes through negotiation, which would protect investors' rights and create favorable conditions for restoring the global semiconductor supply chain [2]

闻泰科技表示，公司将继续与国际律师事务所团队沟通法律救济方案及手段，采取一切行动，最大限度 维护公司及全体股东的合法权益。 11月19日晚间，闻泰科技公告，2025年11月19日，荷兰经济事务与气候政策部大臣Vincent Karremans在 社交媒体上公开发布声明，声明中称："鉴于近期事态发展，我认为当前正是采取建设性举措的恰当时 机——在与欧洲及国际伙伴密切磋商后，暂停我根据《商品供应法》对安世所下达的部长令。" 虽然上述部长令（Order）被宣布暂停，但2025年10月7日（荷兰时间）企业法庭裁决依旧处于生效状 态，其效力并未受暂停的部长令任何影响，公司10月13日公告说明的企业法庭的所有紧急措施还在进行 中，公司对安世的控制权仍然处于受限状态，请广大投资者 注意投资风险。 编辑 ｜ 钉钉 ...

Group 1: CICC Merger Plans - CICC plans to absorb Dongxing Securities and Xinda Securities through a share swap merger, with trading suspension starting from November 20, 2025, for up to 25 trading days [1] - The combined total assets of CICC, Dongxing Securities, and Xinda Securities amount to 1,009.58 billion yuan, with total net assets of 174.68 billion yuan as of Q3 2025 [1] - Industry insiders expect an increase in M&A cases in the brokerage sector, indicating a shift from simple scale expansion to capability enhancement [1] Group 2: Manufacturing Sector Insights - Vice Premier Zhang Guoqing emphasizes the need for accelerating the digital and intelligent transformation of the manufacturing sector during his recent research in Guizhou and Chongqing [2] - The focus is on optimizing traditional industries, nurturing emerging industries, and strategically planning for future industries [2] Group 3: Semiconductor Industry Developments - The Dutch government has suspended its intervention in Anshi Semiconductor, indicating a potential shift towards constructive engagement [3] - The Dutch delegation plans to visit China to address issues related to the semiconductor company [3] Group 4: AI and Technology Trends - Nvidia's upcoming earnings report is highly anticipated, as it may significantly influence AI trading and the overall market sentiment [4][5] - The AI toy market in China is projected to grow from 24.6 billion yuan in 2024 to 29 billion yuan in 2025, reflecting an 18% year-on-year increase [6] Group 5: Xiaomi's Market Performance - Xiaomi's market capitalization has dropped by over 53 billion HKD since September 25, 2025, exceeding the combined market value of several competitors [7] - The decline is attributed to quality issues and negative market sentiment regarding Xiaomi's automotive ventures [7] Group 6: Oil and Gas Sector Highlights - China National Petroleum Corporation's stock price has reached a nearly ten-year high, with a closing increase of approximately 4.05% [9] - Major large-cap stocks in the market have shown active performance, contributing to a positive index despite mixed investor sentiments [9] Group 7: AI Application Growth - Alibaba's AI application, Qianwen, has rapidly climbed to the third position in the Apple App Store's free applications chart shortly after its public launch [10] - The AI industry is experiencing a phase of policy, technology, and demand convergence, indicating a positive outlook for domestic chip and cloud computing leaders [10]