闻泰科技百亿半导体资产控制权受限

Core Viewpoint - The announcement from Wentai Technology regarding the operational freeze of its core semiconductor asset, Nexperia, by the Dutch government has raised significant concerns in the capital market and semiconductor industry, leading to a 10% drop in the company's stock price [2][4]. Group 1: Company Response - Wentai Technology firmly opposes the Dutch government's intervention, claiming it politicizes commercial issues and is based on unfounded "national security" concerns, which contradicts the principles of market economy and fair competition advocated by the EU [2][3]. - The company has initiated legal and diplomatic actions to demand the immediate withdrawal of the Dutch government's directive, cessation of systemic discrimination against Chinese enterprises, and the maintenance of an open and cooperative global semiconductor industry [3]. Group 2: Financial Impact - Nexperia is a crucial profit pillar for Wentai Technology, with projected revenues of 14.715 billion yuan in 2024 and a gross margin of 37.52%. The first half of 2025 is expected to see revenues of 7.825 billion yuan, reflecting an 11.23% year-on-year growth [4]. - The unexpected situation surrounding Nexperia poses a significant threat to Wentai Technology's financial recovery, which reported a net loss of 2.833 billion yuan for 2024, although it achieved a net profit of 474 million yuan in the first half of 2025 [5]. Group 3: Operational Challenges - The company acknowledges that while Nexperia's daily operations continue, the Dutch government's directive and court rulings may lead to extended decision-making processes and reduced resource allocation flexibility, potentially impacting operational efficiency [6][7]. - Wentai Technology is actively engaging with international law firms for legal remedies and maintaining close communication with key suppliers and customers to stabilize its production and sales systems [7]. Group 4: Industry Context - The asset freeze and control dispute over Nexperia highlight the complexities of international competition in the semiconductor industry, especially amid the accelerated restructuring of the global semiconductor supply chain and increasing policy and legal uncertainties regarding cross-border technology and capital flows [6].