WINGTECH(SH:600745) Mei Ri Jing Ji Xin Wen·2025-10-24 16:01Core Viewpoint - A control struggle has emerged around Nexperia, a leading semiconductor supplier, due to political intervention, leading to a suspension of export licenses for its Chinese factories, which poses risks to the global automotive supply chain [1] Group 1: Company Performance - Nexperia's parent company, Wingtech Technology, reported that its semiconductor business generated 43 billion yuan in revenue in Q3, marking a year-on-year growth of 12.2% with a gross margin of 34.56% [4] - The Chinese market accounted for 49.29% of Wingtech's total revenue, continuing to be the fastest-growing and highest strategic priority region for the company [4] - Wingtech's Q3 report indicated a significant increase in net profit attributable to shareholders, which reached 10.40 billion yuan, a year-on-year growth of 279.29% [2][3] Group 2: Risks and Challenges - Wingtech highlighted potential risks in its Q3 report, stating that if control over Nexperia is not restored by the end of 2025, the company may face a phase of revenue, profit, and cash flow adjustments [5] - The ongoing control dispute has led to public disagreements between Chinese stakeholders and Dutch management, raising uncertainties about the future operational stability of Nexperia [6] - Nexperia China has asserted its operational independence and stability, emphasizing that its business activities are not affected by external decisions from the Dutch headquarters [8][9]