WINGTECH(SH:600745) Huan Qiu Shi Bao·2025-10-31 10:12Core Viewpoint - The Dutch government's forced takeover of Nexperia, a subsidiary of the Chinese company Wingtech Technology, has led to significant tensions, with Wingtech demanding the reinstatement of CEO Zhang Xuezheng as a condition for any agreement to restore exports from China [1][3]. Group 1: Government Actions - On September 30, the Dutch government invoked the 1952 Commodity Supply Act to take control of Nexperia's assets, citing national security concerns [3]. - The Amsterdam Court of Appeal ruled on October 7 to suspend Zhang Xuezheng from his position, appointing a foreign individual to take over [3]. - The Dutch Ministry of Economic Affairs maintains that the takeover is in accordance with legal provisions and that Zhang's suspension is a result of an independent court investigation [3]. Group 2: Company Response - Wingtech Technology strongly opposes the takeover and urges the Dutch government to revoke the decision, denying any allegations of technology theft or commercial secret leakage [3]. - A company spokesperson emphasized that there is no need or reason for Wingtech to "steal" technology from its own subsidiary, asserting their legitimate ownership of Nexperia [3]. - The spokesperson also indicated that restoring full control and ownership of the company is essential for easing tensions and restoring stability [3]. Group 3: Industry Impact - Nexperia's factory in Dongguan, China, is one of the largest of its kind globally, accounting for about half of the company's total production, and has recently seen significant reductions in output [4]. - Nexperia supplies a large number of chip components, playing a crucial role in the global automotive supply chain, with European automotive executives warning that continued supply disruptions could lead to production halts [4]. - The company has informed employees and clients that it will continue to operate independently of its Dutch headquarters [4]. Group 4: International Context - Following a consensus reached during trade talks in Kuala Lumpur, the U.S. has agreed to suspend the implementation of its September 29 export control rules for one year, while China will also pause its related measures [5]. - The Dutch government is facing renewed pressure regarding the Nexperia issue in light of the U.S. suspension of export controls, highlighting a complex dilemma involving legal consistency, political credibility, and industrial survival [5].