营收147亿的半导体资产突遭冻结，A股龙头：坚决反对

Core Viewpoint - The announcement from Wentech Technology regarding the Dutch government's directive to freeze operations of its subsidiary, Nexperia, has raised significant market attention, indicating potential operational challenges and geopolitical tensions affecting the semiconductor industry [1][2]. Group 1: Company Operations - Wentech Technology announced that the Dutch government issued a directive on September 30, requiring its subsidiary Nexperia and all related entities globally to refrain from making any adjustments to assets, intellectual property, business, and personnel for one year [1]. - The directive has temporarily limited Wentech's control over Nexperia, although the economic rights as a shareholder remain unaffected, and Nexperia's daily operations continue [1][2]. - The company anticipates that the directive may lead to temporary changes in decision-making processes and reduced flexibility in resource allocation, potentially impacting operational efficiency [1]. Group 2: Financial Impact - Wentech Technology's stock price has increased by 62% since April 9, with a current market capitalization of 57.8 billion yuan, although the year-to-date increase is less than 20%, trailing behind most semiconductor companies [1]. - Nexperia is a key platform for Wentech's semiconductor business, projected to generate approximately 14.7 billion yuan in revenue in 2024, accounting for one-sixth of Wentech's total revenue [2]. - Nexperia ranks third globally in revenue for power discrete devices and is the leading domestic company in the power semiconductor sector, maintaining a strong position across various sub-segments [2]. Group 3: Geopolitical Context - Wentech Technology has expressed strong opposition to the Dutch government's actions, characterizing them as excessive intervention based on geopolitical bias rather than factual risk assessment, and has condemned the discriminatory treatment of Chinese enterprises [2][3]. - The company criticized attempts by certain foreign management to alter Nexperia's ownership structure through legal means, viewing these actions as a political maneuver to undermine shareholder rights and disrupt legitimate corporate governance [3].