WINGTECH(SH:600745) Di Yi Cai Jing·2025-10-17 11:32Core Points - Zhang Xuezheng, CEO of Anshi Semiconductor, has been suspended from his duties amid internal conflicts and external pressures, particularly from the U.S. [1][9] - The management team at Anshi Semiconductor is experiencing severe divisions regarding the company's strategic direction and response to geopolitical pressures [9][11] - The Dutch government has imposed conditions on Anshi Semiconductor, including the requirement for a Dutch board member, which has led to tensions with its parent company, Wentai Technology [12][13] Group 1: Company Background - Anshi Semiconductor was acquired by Wentai Technology for 334 billion RMB, marking the largest semiconductor acquisition in Chinese history [3] - The company was previously part of NXP Semiconductors and has a significant production capacity at its Hamburg facility, producing approximately 700 billion semiconductor chips annually [3] Group 2: Management Changes - Zhang Xuezheng's tenure as CEO began in 2020 after the previous CEO, Frans Scheper, retired [3][4] - Stefan Tilger is currently serving as the acting CEO and CFO, recognized for his professional capabilities [4] - Zhang attempted to dismiss several executives in September 2025, but faced backlash and was ultimately suspended [20][21] Group 3: External Pressures - In January 2023, the U.S., Netherlands, and Japan agreed to impose export controls on semiconductor equipment to China, affecting Anshi Semiconductor's operations [8] - Anshi Semiconductor established a new department to engage with the Dutch government to secure its status as a key player in the semiconductor industry [8][11] Group 4: Governance Issues - The Dutch Ministry of Economic Affairs has raised concerns about Anshi's governance structure, demanding the establishment of a supervisory board with veto powers over critical decisions [13][14] - Wentai Technology has resisted these demands, arguing that they would undermine its control over Anshi Semiconductor [13][14] Group 5: Legal Proceedings - Following Zhang's suspension, legal actions were initiated by the remaining executives, leading to a court ruling that upheld the suspension and placed Anshi's shares under independent management [21][22] - The court proceedings have been characterized by a rapid response, with significant implications for the company's governance and operational autonomy [21][22]