Core Viewpoint - The statement from Wentai Technology emphasizes the illegitimate deprivation of its control rights over Nexperia, which is seen as a root cause of the global semiconductor supply chain turmoil [1] Summary by Sections Control Rights Dispute - Wentai Technology asserts that its control rights and shareholder interests in Nexperia have been unlawfully stripped, leading to chaos in the global semiconductor supply chain, as highlighted by the Chinese Ministry of Commerce [1] - The company claims that the interference from the Dutch Ministry of Economic Affairs has resulted in Nexperia Netherlands initiating improper legal proceedings, which has caused the current supply chain disruptions [1] Importance of Nexperia - Nexperia is identified as a critical node in the global semiconductor supply chain, with its products integrated into various key sectors, including electric vehicles, industrial automation, and consumer electronics [1] - The ongoing control rights dispute poses a risk of supply chain disruptions for numerous clients, potentially affecting production schedules and operational stability across multiple industries [1] Restoration of Control Rights - Wentai Technology's demands focus on restoring its legitimate control rights over Nexperia, which is deemed essential for resolving the current challenges in the semiconductor industry [1] - The company has expressed a willingness to engage in constructive dialogue to resolve the dispute and has received support from Chinese government departments regarding the illegitimate ruling that stripped its control rights [1] Lack of Communication from Nexperia Netherlands - Wentai Technology criticizes Nexperia Netherlands for avoiding core issues and lacking sincerity in communication, despite multiple attempts to seek dialogue [1] - The company perceives Nexperia Netherlands' actions as an attempt to create a "de-China" supply chain while disregarding the interests of a vast number of global clients [1] Call for Action - Wentai Technology urges Nexperia Netherlands to acknowledge the core issues, cease misleading actions, and respond constructively to restore control rights and shareholder interests [1] - The company emphasizes the need for immediate dialogue to resolve the control rights dispute, which is crucial for stabilizing the global semiconductor supply chain [1]

Core Viewpoint - The recent open letter from Nexperia B.V. (Nexperia) emphasizes the urgent need for constructive dialogue with its Chinese entities to restore the supply chain, as clients are facing imminent production halts due to ongoing disruptions [1][2]. Group 1: Nexperia's Position - Nexperia has expressed its commitment to constructive cooperation with its Chinese entities and has made multiple attempts to re-establish dialogue to restore normal supply chains [1]. - The company has called for immediate action from the leadership of its Chinese entities to engage in structured negotiations and restore predictable supply flows, including production schedules and delivery timelines [1]. - Nexperia has indicated that it continued to supply wafers to its Chinese factories during the export restrictions in October, contradicting earlier statements about halting supplies [2]. Group 2: Chinese Government's Response - The Chinese Ministry of Commerce has stated that the root cause of the current disruptions in the global semiconductor supply chain lies with the Dutch side, urging for constructive solutions from the Netherlands [3]. - The Chinese government has taken responsible measures to maintain and restore stability in the global semiconductor supply chain, despite ongoing uncertainties [3]. - Both Chinese and European officials have agreed that companies should lead the resolution of the Nexperia issue and have committed to encouraging constructive communication between Nexperia's Dutch and Chinese entities [3].

Core Viewpoint - The statement from the company emphasizes the need for constructive communication with ASML to resolve control issues and ensure the stability of the global semiconductor supply chain [1][3]. Group 1: Company Actions and Statements - The company has expressed a willingness to engage in constructive dialogue with ASML regarding the restoration of its legitimate control and resolution of the current dispute [1]. - Despite the company's efforts to communicate, ASML has not provided any substantial response to the proposals made by the company [1]. - The company calls for ASML to propose a constructive and sincere solution based on respect for facts and laws to restore its legitimate control and shareholder rights [1]. Group 2: Industry Context and Government Involvement - Recent discussions between the Chinese and Dutch governments regarding ASML have taken place, with the Dutch side proposing to suspend an administrative order issued by the Dutch Minister of Economic Affairs [3]. - The Chinese Ministry of Commerce welcomed the Dutch government's suspension of the administrative order, viewing it as a step towards resolving the underlying issues affecting the global semiconductor supply chain [3]. - The erroneous ruling by the Dutch corporate court that stripped the company of its control over ASML is identified as a key obstacle to resolving the issue [3]. Group 3: Company Profile - The company is recognized as a leading ODM manufacturer and semiconductor enterprise in China, actively transitioning from product integration to semiconductor business [4].

Core Viewpoint - The company expresses concern over unilateral actions by ASML Netherlands that threaten the stability of the global semiconductor supply chain and calls for constructive dialogue to resolve control issues [1][6]. Group 1: Company Actions and Statements - The company has shown goodwill and a willingness to engage in constructive communication with ASML Netherlands to restore its legitimate control and resolve the current dispute [1][3]. - Despite the company's efforts, ASML Netherlands has not provided any substantial response to the communication proposals made by the company [1][3]. - The company emphasizes that the stability of the global semiconductor industry is crucial for overall industry development and urges all parties to act rationally and responsibly [1][3]. Group 2: Government Involvement and Negotiations - The Chinese Ministry of Commerce disclosed that on November 18 and 19, government departments from China and the Netherlands held face-to-face consultations regarding ASML semiconductor issues [6]. - During these consultations, China reiterated that the source of the current chaos in the global semiconductor supply chain lies with the Netherlands and urged the Dutch side to take effective actions to resolve the ASML issue [6]. - The Dutch side proposed to suspend the ministerial order issued under the Goods Availability Act, which China welcomed as a step in the right direction, but noted that further actions are needed to fully resolve the underlying issues [6]. Group 3: Legal and Regulatory Context - The Dutch Minister of Economic Affairs and Climate Policy announced the suspension of the ministerial order regarding ASML, but the court ruling from October 7, 2025, remains in effect, limiting the company's control over ASML [7]. - The company warns investors that despite the suspension of the ministerial order, the court's emergency measures are still in place, and control over ASML remains restricted [7].

Core Viewpoint - The recent developments regarding Nexperia's control issues have seen a positive turn with the Dutch government announcing a suspension of the ministerial order, although the control remains limited for the company [1][2][3]. Group 1: Company Control and Legal Status - The Dutch Minister of Economic Affairs announced the suspension of the ministerial order that restricted Nexperia's operations, which was initially set to last for one year [2]. - Despite the suspension, the court ruling from October 7, 2025, which limits Nexperia's control, remains in effect, and the company is actively seeking legal remedies to protect its rights [3]. - Nexperia has urged the Dutch government to permanently revoke the administrative order and restore control to its Chinese shareholders [3]. Group 2: Supply Chain and Operations - Nexperia has welcomed constructive dialogue between China and the Netherlands aimed at stabilizing the supply chain, but emphasizes that full recovery requires cooperation from its entities in China [4]. - The company has clarified that it has not completely halted wafer shipments and continues to deliver wafers to maintain supply chain continuity [6]. - Nexperia's Chinese entity has been accused of deviating from the company's governance framework, yet the company continues to supply wafers directly to its Chinese factory during the export restrictions [6][7]. Group 3: Management and Leadership - The CEO of Nexperia, Zhang Xuezheng, remains suspended, and the voting rights of shares held by Nexperia are managed by an independent administrator appointed by the court [4]. - The CFO, Stefan Tilger, is acting as the interim CEO, while other executives continue to fulfill their roles under the oversight of the court-appointed non-executive director [4].

Core Viewpoint - The Dutch government has suspended the administrative order against ASML, indicating a willingness to engage in constructive dialogue with China to resolve semiconductor supply chain issues [1][3]. Group 1: Administrative Order Suspension - The Dutch Minister of Economic Affairs, Karremans, announced the suspension of the administrative order against ASML, stating it is an appropriate time for constructive measures [1]. - The Chinese Ministry of Commerce welcomed the suspension, emphasizing that the responsibility for the current global semiconductor supply chain chaos lies with the Netherlands [3]. Group 2: Ongoing Dialogue and Cooperation - Both Chinese and Dutch government departments held face-to-face consultations in Beijing regarding the ASML issue, with China urging the Netherlands to take effective actions to resolve the situation [3]. - The Dutch government expressed its intention to continue constructive dialogue with the Chinese government in the future [1]. Group 3: Legal and Regulatory Context - The Dutch government issued an administrative order on September 30, which improperly intervened in ASML's internal affairs, leading to a court ruling that stripped Chinese companies of their equity rights [4]. - China has taken responsible measures to ensure compliance and has exempted relevant exports for civilian use to restore the global semiconductor supply chain [4].

Group 1: Development of Time-Honored Brands - The Ministry of Commerce hosted the International Exchange Event for Time-Honored Brands during the 8th China International Import Expo, focusing on "inheritance and innovation" to promote cooperation and development of these brands [1][2] - There are currently 1,450 Time-Honored Brands in China, with an average brand lifespan of over 145 years, and over 60% are century-old stores, contributing significantly to the economy and cultural confidence [2] - In 2024, Time-Honored Brands are projected to achieve over 2 trillion yuan in revenue and over 350 billion yuan in profit, with overseas revenue exceeding 50 billion yuan, indicating strong market value and brand vitality [2] Group 2: Second-Hand Car Export Management - The Ministry of Commerce, along with other departments, issued a notice to strengthen the management of second-hand car exports, focusing on compliance and sustainable development [4][5] - The notice includes six specific measures to enhance export management, such as strict compliance checks and establishing a negative list for dishonest practices, aiming to improve the overall service level and international competitiveness of the industry [4][5] Group 3: China-Europe Economic Relations - China and Europe are important economic partners, with China expressing willingness to deepen cooperation and address trade differences through ongoing communication [3] Group 4: Japan-China Relations - Recent comments by Japan's Prime Minister have negatively impacted China-Japan economic relations, with China urging Japan to correct its stance to foster a better environment for cooperation [5][7] Group 5: Semiconductor Supply Chain Issues - The Netherlands has taken steps to resolve disputes related to semiconductor manufacturing, with China welcoming these actions but emphasizing the need for further cooperation to stabilize the global semiconductor supply chain [8]

Core Viewpoint - The current global semiconductor supply chain disruption is attributed to the Netherlands, which has paused its administrative order, a move welcomed by China as a step towards resolving the issue, although more actions are needed for a complete resolution [1]. Group 1 - The Dutch government's decision to suspend the administrative order is seen as a positive step towards addressing the semiconductor supply chain issues [1]. - China urges the Netherlands to demonstrate genuine cooperation and take concrete actions to expedite the resolution of the ASML semiconductor issue [1]. - The restoration of safety and stability in the global semiconductor supply chain is emphasized as a critical goal [1].

Core Viewpoint - The Dutch Ministry of Economic Affairs announced the suspension of intervention measures against Nexperia, allowing its parent company, Wingtech Technology, to regain control over Nexperia, following constructive discussions with Chinese authorities [1][3]. Group 1: Government Actions - The Dutch government suspended the control measures based on recent developments and constructive dialogue with China, indicating a willingness to collaborate on ensuring chip supply stability [1]. - The suspension creates conditions for Wingtech Technology to restore control over Nexperia, although the ruling by the Dutch Enterprise Court from October 7, 2025, remains effective [3][4]. Group 2: Nexperia's Response - Nexperia welcomed the suspension of the control measures but emphasized that full supply chain recovery requires further cooperation from its Chinese entities [3]. - The company highlighted that the ruling from the Dutch Enterprise Court, which includes significant governance changes, is still in effect despite the suspension of the ministerial order [4][5]. Group 3: Management Structure - Nexperia's current management structure includes Stefan Tilger as interim CEO and Achim Kempe as COO, with Guido Dierick appointed as a non-executive director by the Enterprise Court [5]. - The management structure indicates that the Dutch headquarters retains actual operational control over Nexperia, despite the suspension of the ministerial order [5]. Group 4: Background Context - The situation escalated when the Dutch government took control of Nexperia on September 30, citing national security concerns, which Wingtech Technology described as an overreach based on geopolitical bias [6]. - Following this, China imposed export controls on Nexperia, significantly impacting its production capacity, as over 70% of its semiconductor packaging and testing capacity is located in China [6][8].

Core Viewpoint - The Chinese government expresses strong dissatisfaction with the Dutch government's intervention in the semiconductor supply chain, emphasizing that such actions have led to instability and chaos in the global semiconductor market [1][2][3]. Group 1: Dutch Government's Actions - The Dutch government, through hasty administrative orders and court decisions, has acted recklessly, undermining the rule of law and damaging the business environment in the Netherlands [2]. - The intervention involved the Dutch government taking control of a Chinese company's subsidiary, which is seen as a violation of contractual spirit and an impulsive decision [1][2]. Group 2: Impact on Semiconductor Supply Chain - The semiconductor supply chain crisis has been exacerbated by the Dutch government's actions, which have not only failed to resolve existing issues but have also escalated internal conflicts into systemic risks for the global supply chain [2][3]. - Despite efforts from the Chinese side to stabilize the supply chain, the situation remains precarious due to the Dutch government's refusal to take constructive actions [2][3]. Group 3: Chinese Government's Response - The Chinese government has taken responsible measures to ensure compliance and has exempted certain exports for civilian use, aiming to restore stability in the semiconductor supply chain [2][3]. - China has expressed willingness to engage in discussions with the Dutch government, urging them to come with constructive solutions rather than repeating past mistakes [3][9]. Group 4: Nexperia China's Position - Nexperia China has issued a statement highlighting that the Dutch government has not taken any real actions to stop infringing on the rights of Chinese enterprises or to stabilize the semiconductor supply chain [5][6]. - The company reassures its employees that despite external challenges, it remains capable of providing full salaries and benefits, emphasizing the importance of its workforce [5][7].