安世业绩巅峰时刻突遇“地缘”风暴，优秀也是一种“过错”？

Core Insights - Anshi Semiconductor achieved record-high performance in Q3 2025, with revenue reaching 4.427 billion yuan and net profit of 1.04 billion yuan, marking a significant year-on-year increase of 279.29% [2] - The Dutch government intervened by freezing Anshi's assets and suspending its CEO, citing "governance risks," which raises questions about the timing of this action coinciding with the company's peak performance [1][3] Performance Highlights - Under the leadership of the CEO, Anshi Semiconductor has seen a 60% increase in revenue since its acquisition by Wentai Technology, with profits multiplying and patent applications soaring from 10-15 annually to 110 expected in 2024 [2] - As of October 2024, Anshi has cleared all debts and holds 400 million USD in cash, providing a strong foundation for future market expansion [2] Governance Concerns - The Dutch government's claims of "serious governance deficiencies" contrast sharply with Anshi's impressive operational results, leading to skepticism about the motives behind the intervention [3][4] - Anshi Semiconductor plays a crucial role in the automotive chip sector, being one of the top three global suppliers of automotive-grade power semiconductors, which are essential for the European automotive supply chain [4] Market Reactions - The timing of the Dutch intervention during Anshi's record performance has prompted market speculation regarding the underlying motives, suggesting a potential "sour grapes" mentality [4] - Diplomatic channels have been opened, with discussions between Dutch and Chinese officials to resolve the situation, indicating a potential path forward despite the current challenges [4]