WINGTECH(SH:600745) Nan Fang Du Shi Bao·2025-10-13 02:47Core Viewpoint - The announcement from Wentech Technology reveals that its core semiconductor assets, Nexperia, are facing dual restrictions from the Dutch government and judicial authorities, resulting in the freezing of assets for 30 global entities, temporarily limiting the company's control over Nexperia [1][3]. Group 1: Company Response - Wentech Technology issued a statement opposing the Dutch government's intervention, arguing that the actions are politically motivated and not based on factual risk assessments [3]. - The company emphasized its compliance with local laws and regulations since acquiring Nexperia, highlighting a contribution of €130 million in corporate income tax to the Dutch economy over the past five years [3]. - Wentech Technology stated that it will not yield to external political pressure and has initiated legal and diplomatic avenues to demand the withdrawal of the Dutch government's directive [5]. Group 2: Financial Performance - Nexperia's revenue peaked at €2.36 billion in 2022, with a significant increase in gross margin from 25% in 2020 to 42.4% in 2022 [3]. - The company achieved a "zero debt" operation by October 2024, having repaid all prior debts [3]. Group 3: Research and Development - Nexperia's R&D investment has steadily increased from €112 million in 2019 to €284 million in 2024, with a growing proportion of capitalized expenses [4]. - The number of new global patent applications surged significantly, with 95 applications in 2023 and projected 110 in 2024, compared to 10-15 annually before 2019 [4]. Group 4: Governance Issues - The statement indicated that some foreign management members are attempting to alter Nexperia's ownership structure through legal means, which is linked to the Dutch government's directives [4]. - Wentech Technology condemned these actions as attempts to undermine shareholder rights and disrupt the company's legitimate governance structure [4].