WINGTECH(SH:600745) Guan Cha Zhe Wang·2025-12-22 16:01Core Viewpoint - The ongoing dispute between the Dutch government and Wingtech Technology over the control of Nexperia has raised significant concerns about global chip supply stability, particularly affecting the automotive and consumer electronics sectors [3][4]. Group 1: Company Actions and Statements - Yang Mu, the chairperson of Wingtech Technology, stated that the Dutch government's actions against the company violate the 2001 investment protection agreement signed with China, characterizing the intervention as premeditated and unjustified [1][5]. - Yang emphasized that the global supply chain is at risk unless Wingtech regains control of Nexperia, warning that each day of the dispute further damages the global industry chain and investor confidence [1][5]. - Wingtech has submitted a dispute notice on October 15, 2023, indicating that if the issue is not resolved within six months, the company may consider international arbitration to seek damages, potentially amounting to an estimated valuation of $8 billion for Nexperia [5]. Group 2: Industry Impact - The internal conflict at Nexperia has led to concerns about the stability of key component supplies for the automotive and consumer electronics industries, with Honda warning of temporary shutdowns in some factories due to chip shortages [3][4]. - The dispute has resulted in a split within Nexperia, creating two parallel operational systems: one controlled by the Dutch court-appointed management in Europe and the other aligned with Wingtech in China, leading to a supply chain deadlock [4]. - Nexperia (China) has begun securing local suppliers for IGBT products, indicating a shift in strategy to ensure supply continuity amid the ongoing dispute [9]. Group 3: Government and Legal Developments - The Dutch government has faced criticism for its handling of the situation, with parliamentary discussions highlighting the perceived recklessness of the intervention and questioning the government's foresight regarding potential Chinese countermeasures [6][7]. - The Dutch Ministry of Economic Affairs has refrained from commenting on the case, stating that it has been handed over to the corporate court, while the court's decision to suspend Wingtech's CEO has been met with legal challenges [6][8]. - The Chinese Ministry of Commerce has called for negotiations to restore control and supply chain stability, attributing the root cause of the issue to improper administrative intervention by the Dutch government [10].