WINGTECH(SH:600745) Mei Ri Jing Ji Xin Wen·2025-10-12 14:40Core Viewpoint - The announcement regarding the restrictions imposed on Nexperia, a key semiconductor asset of Wentech Technology, has raised significant concerns about the company's operations and governance due to political interference from the Dutch government [1][2]. Group 1: Company Operations - Nexperia, a leading IDM manufacturer in the semiconductor industry, is crucial for Wentech Technology, contributing 14.715 billion yuan in revenue and 2.297 billion yuan in net profit in 2024 [1][5]. - The Dutch government has mandated a one-year freeze on Nexperia's global operations, affecting its assets, intellectual property, and personnel, effectively pausing its business activities [4][5]. - The internal management of Nexperia has been disrupted, with the Dutch court suspending Wentech's founder from his director roles and appointing an independent director with decisive voting rights [1][5]. Group 2: Financial Impact - In the first half of 2025, Nexperia's semiconductor business generated 7.825 billion yuan in revenue, an increase of 11.23% year-on-year, and a net profit of 1.261 billion yuan, up 17.05% [6]. - The restrictions on Nexperia's operations pose immediate challenges to Wentech's consolidated financial statements and future profitability, as the company may face reduced operational efficiency and decision-making delays [7][8]. Group 3: Legal and Strategic Response - Wentech Technology has initiated legal and diplomatic measures to contest the Dutch government's directives and to protect its shareholder rights [3][9]. - The company is actively communicating with suppliers and customers to maintain stability in its operations and is seeking support from government entities [8][9]. - Wentech emphasizes the importance of a stable global semiconductor supply chain and calls for an end to the politicization of business operations [2][3].