WINGTECH(SH:600745) Huan Qiu Wang·2025-11-24 03:10Core Viewpoint - The Dutch government has suspended the administrative order issued under the "Goods Availability Act" regarding ASML, which is seen as a first step towards resolving the issue, but significant gaps remain before a complete resolution is achieved [1][2] Group 1: Government Actions - The Dutch government has paused an administrative order that restricted ASML and its subsidiaries from making any adjustments to their assets, intellectual property, and personnel for a year [1] - Despite the suspension, ASML is still required to report to the Dutch government regarding any "production resources or intellectual property transfers" [2] - The Dutch economic department's control order has achieved its purpose, but it can be reinstated if future chip supply risks arise [2] Group 2: Company Control and Legal Issues - The Dutch enterprise court's ruling from October 7 remains effective, which limits the control of Wingtech Technology over ASML [1] - The court has suspended the position of ASML's CEO Zhang Xuezheng and mandated that Wingtech's shares in ASML (minus one share) be held in trust by a third party [1] - The role of Zhang Xuezheng remains uncertain, which is a core issue in the ongoing dispute [2] Group 3: International Relations and Supply Chain - Chinese Commerce Minister Wang Wentao emphasized the need for the Dutch side to take responsibility and act quickly to resolve internal disputes to stabilize the global semiconductor supply chain [1] - The Dutch government's openness to "returning control" is influenced by the ongoing validity of the court's ruling against Zhang Xuezheng [2] - There is a suggestion that the Dutch side should proactively collaborate with China to effectively address the global semiconductor supply chain issues [2]