闻泰科技提醒，公司对安世的控制权仍然处于受限状态，提醒投资者注意投资风险。 闻泰科技所提的企业法庭紧急措施，则是指10月1日安世半导体控股以安世半导体法定董事兼首席法务官代表 公司向企业法庭提交启动调查与采取临时措施的紧急请求，随后企业法庭即时生效的几项紧急措施，包括暂 停张学政担任安世半导体控股公司执行董事、将闻泰科技子公司持有的安世半导体控股股份以管理权形式托 管给独立第三方管理等。 闻泰科技提醒，公司对安世的控制权仍然处于受限状态，提醒投资者注意投资风险。同时，闻泰科技表示， 公司将继续与国际律师事务所团队沟通法律救济方案及手段，以维护公司及股东合法权益。 安世半导体去年收入规模约147亿元。闻泰科技在第三季度报告中表示，若安世控制权在2025年末前无法恢 复，公司可能面临收入、利润及现金流阶段性下调风险。公司将持续评估并及时履行信息披露义务，敬请广 大投资者理性评估风险，审慎决策。 此前闻泰科技还表示，荷兰政府以莫须有的"国家安全"为由，对安世半导体实施全球运营冻结，是基于地缘 政治偏见的过度干预。 安世半导体资产被冻结后，10月13日至11月19日，闻泰科技股价累计下跌8.99%。11月19日，闻泰 ...

Core Viewpoint - Argentina has suspended export tariffs on soybeans, soybean meal, and soybean oil until October 31, creating a temporary cost advantage for global buyers, particularly benefiting Chinese companies facing low domestic soybean inventories [1][2]. Group 1: Policy Changes and Market Reactions - The suspension of the 26% export tax allowed Chinese buyers to quickly secure 10 vessels of soybeans, with potential orders increasing to 15 vessels, totaling over 2 million tons [1]. - The price of this batch of soybeans was nearly 200 RMB per ton lower than Brazilian prices, effectively supplementing domestic stocks and avoiding price volatility ahead of the U.S. harvest [2]. - However, the tax exemption was abruptly terminated when export declarations reached a $70 billion cap, leading to concerns about the completion of existing orders [2]. Group 2: U.S. Involvement and Conditions - Following a meeting between Argentine President Milei and U.S. President Trump, the U.S. announced plans to purchase Argentine pesos and initiate a $20 billion currency swap negotiation [2][4]. - The U.S. conditions for this support included terminating the currency swap agreement with China, reinstating and increasing agricultural export tariffs, expediting U.S. mining permits in Argentina, and linking financial aid to Milei's political future [4][5]. Group 3: Argentina's Economic Strategy - Argentina's economy minister emphasized the importance of the China-Argentina currency swap agreement, which has been in place since 2009 and has expanded significantly, providing crucial liquidity for imports and debt repayments [7]. - The bilateral trade relationship is underscored by China's dominance as the largest buyer of Argentine soybeans and its significant role in Argentine sorghum exports, with 99.2% of sorghum exports going to China [9]. Group 4: Infrastructure and Long-term Cooperation - Chinese investments in Argentina cover critical infrastructure projects, enhancing the country's energy and transportation sectors, which are vital for agricultural exports [9][11]. - The ongoing lithium mining project, supported by Chinese technology and funding, aims to increase local processing rates significantly, contrasting with U.S. demands for exclusive mining rights [13]. Group 5: Geopolitical Implications - The interplay between U.S. and Chinese interests in Argentina highlights the geopolitical tensions affecting trade dynamics, with Argentina caught between the two powers [15]. - The recent developments indicate a shift from purely market-driven interactions to a complex landscape involving financial, monetary sovereignty, and strategic resource considerations [15].

Core Viewpoint - The Chinese semiconductor industry association expresses serious concern over the intervention by the Dutch government in the operations of Nexperia, a subsidiary of WWT Technology, emphasizing the need for a fair and non-discriminatory business environment [1][2][3][4]. Group 1: Industry Response - The association firmly supports its member companies in defending their legitimate rights and maintaining a stable global supply chain [1]. - It opposes the misuse of "national security" concepts to impose selective and discriminatory restrictions on Chinese enterprises operating abroad [2]. - The association warns that discriminatory measures against specific companies will undermine the open and collaborative global semiconductor ecosystem [3]. Group 2: Company Situation - WWT Technology claims that the Dutch government's actions, citing "national security," are based on geopolitical bias rather than factual risk assessment, violating EU principles of market economy and fair competition [6]. - The company condemns attempts by certain foreign executives to alter Nexperia's ownership structure through legal means, viewing it as a political maneuver to undermine shareholder rights and disrupt the company's governance [7]. - Nexperia, a key asset for WWT Technology, generated 14.715 billion yuan in revenue and 2.297 billion yuan in net profit in 2024, making it a crucial source of profit for the company [11]. - Following the news, WWT Technology's stock price experienced a limit down on October 13 and again on the following trading day [12].

Core Viewpoint - The China Semiconductor Industry Association expresses serious concern over the intervention by the Dutch government affecting its member company, Wingtech Technology's subsidiary Nexperia, emphasizing the need for a fair and non-discriminatory business environment [1][2][3][4]. Group 1 - The association firmly supports its member companies in defending their legitimate rights and maintaining a stable global supply chain [1]. - It opposes the misuse of "national security" concepts to impose selective and discriminatory restrictions on Chinese companies' overseas branches [2]. - Discriminatory measures against specific companies are seen as detrimental to an open and collaborative global semiconductor ecosystem [3]. Group 2 - Wingtech Technology announced that its core semiconductor asset, Nexperia, faced dual restrictions from the Dutch government and courts, including a one-year freeze on operations and management changes [6]. - Following these developments, Wingtech's stock price experienced a significant drop, hitting the daily limit down on October 13 and again on the following trading day [6]. - The Chinese Ministry of Foreign Affairs reiterated its opposition to the politicization of trade issues and emphasized the need for adherence to market principles [8].

Core Viewpoint - The Dutch government's decision to freeze global operations of Nexperia, a subsidiary of Wingtech Technology, is criticized as an excessive intervention based on geopolitical bias rather than factual risk assessment [1][2] Group 1: Company Actions and Financial Performance - Wingtech Technology has completed a 100% acquisition of Nexperia, leading to significant improvements in operational quality, financial performance, technological asset accumulation, operational resilience, and market position [6] - Nexperia's revenue reached a peak of €2.36 billion in 2022, with gross margin increasing from 25% in 2020 to 42.4% in 2022 [6] - By October 2024, Nexperia is expected to have paid off all previous debts, achieving a "zero debt" operation [6] - R&D investment at Nexperia has steadily increased from €112 million in 2019 to €284 million in 2024, with a growing proportion of capitalized investments [6] - The number of new patent applications globally has significantly increased since 2022, totaling more than the combined applications of the previous 3-4 years [6] Group 2: Legal and Political Context - Certain foreign management at Nexperia is attempting to change the company's equity structure through legal means, which is closely linked to the Dutch government's directives, essentially using political pressure to undermine shareholder rights and disrupt the company's legitimate governance structure [7] - The company condemns actions disguised as "compliance" that are fundamentally aimed at seizing control [7] - Wingtech Technology, as a long-term strategic shareholder, will not yield to external political pressure and has initiated all legal and diplomatic avenues to advocate for rationality and the essence of business [9] Group 3: Industry Perspective - The semiconductor industry is a product of globalization, and its future relies on collaboration rather than confrontation [10] - Governments should provide a fair and non-discriminatory business environment for enterprises instead of weaponizing technological cooperation [10] - The company expresses a commitment to work with all partners to maintain stability and innovation in the semiconductor industry [10]