WINGTECH(SH:600745) Di Yi Cai Jing·2025-12-27 03:55Core Viewpoint - The ongoing control dispute over Nexperia, a subsidiary of Wentech Technology, has led to significant operational restrictions imposed by the Dutch government, affecting the company's ability to manage its assets and operations effectively [2][3]. Group 1: Company Developments - Wentech Technology plans to reaffirm its position and actively defend its rights during a second hearing scheduled for January 2026 [2]. - The Dutch Ministry of Economic Affairs issued a ministerial order in September, freezing Nexperia's assets and restricting Wentech's control over the subsidiary [2]. - The company has submitted a dispute notice on October 15, indicating that if the issue is not resolved within six months, it may seek international arbitration with potential claims up to approximately $8 billion [3]. Group 2: Operational Impact - Following the control dispute, Nexperia's temporary management has dismissed senior employees of Chinese nationality or with Chinese backgrounds and halted salary payments and social security for employees in China [3]. - Nexperia China is working to validate domestic wafer suppliers to stabilize the supply chain, with completion expected between Q1 and Q2 of 2026 [4]. Group 3: Legal and Regulatory Context - The Dutch government has been accused of excessive intervention based on unfounded "national security" concerns, leading to operational freezes for Nexperia [3]. - The Chinese Ministry of Commerce has called for negotiations to resolve control and supply chain issues, emphasizing the need for the Dutch government to withdraw its administrative order [5].