WINGTECH(SH:600745) Xin Lang Cai Jing·2025-10-31 21:05Core Viewpoint - Wentech Technology (600745) has appointed Shen Xinjia as the new president amid a crisis involving its core subsidiary, Anshi Semiconductor, which has faced operational control issues and management turmoil [1][3]. Group 1: Management Changes - Shen Xinjia has been appointed as the president of Wentech Technology, effective from October 30, with her term aligned with the company's 12th Board of Directors [2]. - Shen Xinjia has over 15 years of experience in legal advisory roles and previously held positions at Bosch China and Trina Solar [2]. - Following the appointment, Shen Xinjia no longer holds the position of vice president [2]. Group 2: Financial Performance - Wentech Technology reported a 77% year-on-year decline in revenue for Q3 2025, while net profit attributable to shareholders increased by 279% to 1.04 billion yuan [3]. - The semiconductor business generated revenue of 4.3 billion yuan, reflecting a 12.2% year-on-year growth [3]. Group 3: Subsidiary Control Issues - Anshi Semiconductor has been under operational freeze by the Dutch government, leading to significant management changes and disruptions in operations [3][4]. - The company has faced internal conflicts regarding personnel decisions, with claims that the Dutch side's actions do not comply with Chinese laws [4]. - Anshi Semiconductor has warned clients about potential quality issues with chips from its Chinese factory, although it has refuted these claims [4][5]. Group 4: Supply Chain Challenges - The Chinese Ministry of Commerce issued an export control notice affecting Anshi Semiconductor, which has led to supply shortages and price increases in the market [4][5]. - Wentech Technology's management expressed confidence in restoring domestic supply chains and maintaining stable operations for clients [5].