凤凰网科技 . 以下文章来源于凤凰网科技 ，作者凤凰网科技 凤凰科技频道官方账号，带你直击真相。 本文来自微信公众号： 凤凰网科技 ，作者：Dale、姜凡，编辑：董雨晴，题图来自：视觉中国 2025年11月18日与19日，一场牵动全球汽车产业供应链的半导体争端迎来关键一步。 据商务部网站消息，有记者问：有关安世半导体问题，中国和荷兰之间近期的磋商情况如何？对此， 商务部回应道：11月18日和19日，中荷双方政府部门在北京就安世半导体问题举行了两轮面对面磋 商。在磋商中，中方再次强调，造成当前全球半导体产供链混乱的源头和责任在荷方，敦促荷方切实 采取实际行动，迅速且有效推动安世半导体问题早日解决，恢复全球半导体产供链的安全与稳定。荷 方主动提出，暂停荷经济大臣根据《货物可用性法案》签发的行政令。 中方对荷方主动暂停行政令表示欢迎，认为这是向妥善解决问题的正确方向迈出的第一步，但距离解 决全球半导体产供链动荡和混乱的根源"撤销行政令"还有差距。 这场持续一个多月的安世之争，根源本就在荷兰，却已成为全球汽车供应链的麻烦。 2025年9月底，一场由荷兰发起的资本与司法"强取"，单方面点燃争端。当前，荷兰方面已主动暂停 ...

Core Viewpoint - The semiconductor industry is currently experiencing significant turmoil due to geopolitical tensions, particularly surrounding Anshi Semiconductor, which plays a crucial role in the automotive semiconductor market [1][3]. Group 1: Anshi Semiconductor's Market Position - Anshi Semiconductor holds a dominant position in the global semiconductor industry, especially in the automotive sector, with its small-signal MOSFETs and ESD protection devices leading in global shipments [1]. - The company ranks second in the global market share for automotive Power MOS, with its products widely used in critical automotive modules such as engines, transmissions, and braking systems [1]. Group 2: Geopolitical Interventions - The U.S. government has placed Wentai Technology on the "entity list" and introduced "penetrating rules," significantly impacting Anshi Semiconductor and creating operational challenges [1]. - The Dutch government intervened by freezing Anshi Semiconductor's global assets and personnel for one year, citing national security concerns, which has led to a suspension of the CEO's position and third-party management of his shares [1][3]. Group 3: China's Response - China has demanded the restoration of CEO Zhang Xuezheng's position and the return of Wentai's full control over Anshi Semiconductor as a condition for resuming chip exports [3]. - This demand has put the Dutch government in a difficult position, as their intervention has backfired, threatening their own manufacturing supply chains and impacting global automotive production [3]. Group 4: U.S. Policy Shift - The U.S. has unexpectedly paused the execution of "penetrating sanctions," influenced by domestic challenges such as government shutdowns and fiscal deficits, prompting a reassessment of its international stance [5]. - If the Netherlands restores the CEO's position, it would significantly benefit the global semiconductor supply chain, helping to stabilize production and mitigate losses from supply chain disruptions [5]. Group 5: Future Implications - This situation illustrates China's resilience in the face of international technological competition and highlights the need for collaborative efforts in the global tech industry [7][8]. - The incident emphasizes the importance of creating a fair and open international cooperation environment to foster sustainable technological progress and healthy industrial development [8].

Core Viewpoint - Nexperia, a leading global power semiconductor company, has decided to stop supplying wafers to its packaging and testing factory in Dongguan, China, effective October 26, 2025, which raises concerns about the impact on the semiconductor supply chain and market dynamics [1][5]. Group 1: Company Overview - Nexperia ranks third in global revenue for power discrete devices in 2024 and is the top domestic power semiconductor company in China, recognized as one of the "Top Ten Power Device Companies" in the Chinese semiconductor industry [5]. - The company leads in several segments, including being the largest supplier of small signal diodes and transistors, second in logic ICs, and first in ESD protection devices and small signal MOSFETs [5]. Group 2: Supply Chain Impact - Nexperia China has stated that it has sufficient finished and in-process inventory to meet customer demand until the end of the year and is actively working on validating new wafer production capacity to ensure long-term supply [5]. - Despite Nexperia China's assurances, the actual sentiment in the supply chain remains critical for assessing risks [5]. Group 3: Responses from Distributors - Zhongdian Port, a distributor of Nexperia products, reported that while short-term supply is normal, there is long-term uncertainty depending on negotiations between China and the Netherlands [6][7]. - Weiyali, another distributor, indicated that there is currently no stock available from Nexperia, and the timeline for future availability is uncertain [8]. - Shangluo Electronics continues to distribute Nexperia products but emphasizes that it does not rely solely on Nexperia, having prepared alternative products to mitigate potential risks [9].

Core Viewpoint - The global automotive industry is facing a significant chip shortage exacerbated by the Dutch government's intervention in the semiconductor company Nexperia, which has led to supply chain disruptions and production halts among major automakers [1][2][3]. Group 1: Supply Chain Disruptions - The Dutch government took control of Nexperia, which has triggered a global chip shortage impacting major automotive manufacturers like Volkswagen and Honda, leading to production halts and financial losses [2][3]. - Nexperia's Chinese subsidiary has reported a significant debt of 1 billion RMB to its packaging and testing factory in Dongguan, indicating financial strain and potential supply issues [1][4]. - Major automakers, including Ford and BMW, are facing imminent production cuts if the chip supply issue is not resolved within weeks [7][9]. Group 2: Impact on Automotive Manufacturers - Volkswagen reported its first quarterly loss in five years, attributing it to the ongoing chip shortage, while Honda has announced production halts at key facilities in North America [2][5]. - The European Automobile Manufacturers Association warned of potential production interruptions across the continent if Nexperia's supply does not stabilize soon [2][7]. - The automotive industry relies heavily on Nexperia's components, which are critical for various vehicle functions, making the shortage particularly acute [5][6]. Group 3: Market Dynamics and Alternatives - Automakers are scrambling to find alternative suppliers, but the transition is complicated by lengthy certification processes that can take 18 to 24 months, making immediate solutions difficult [10][11]. - The cost of sourcing components from alternative suppliers is expected to rise by 20-30%, further straining manufacturers already facing financial pressures [11][12]. - The geopolitical landscape is influencing supply chain decisions, with companies urged to mitigate risks by diversifying suppliers and considering local production options [13]. Group 4: Future Implications - The current crisis may accelerate the push for domestic semiconductor production capabilities in China, as companies seek to reduce reliance on foreign suppliers [13]. - The situation highlights the need for the automotive industry to adapt to geopolitical risks and enhance supply chain resilience [13].

Core Viewpoint - A power struggle over Nexperia, a leading semiconductor supplier, has emerged, causing significant disruptions in the global automotive supply chain, with potential production halts for car manufacturers [2][4]. Group 1: Company Overview - Nexperia is the largest supplier of basic semiconductor devices globally, with its headquarters in the Netherlands [2]. - According to ICwise, Nexperia ranks third among the top 10 global power discrete device companies in 2023, following Infineon and ON Semiconductor [4]. - By 2024, Nexperia is expected to lead the market share in several segments, including small-signal MOSFETs, diodes, transistors, and ESD protection devices [4]. Group 2: Market Impact - The disruption in Nexperia's operations has led to a frantic scramble for chips among automotive companies, both domestically and internationally [4]. - Major automotive manufacturers such as BMW, Volkswagen, and Tesla are core customers of Nexperia, making the supply chain crisis particularly critical for them [4]. - The European Automobile Manufacturers Association (ACEA) has expressed deep concern over the potential severe impact on the European automotive industry if the chip supply issues are not resolved promptly [4].

Core Viewpoint - The Anshi Semiconductor incident highlights the hypocrisy of Western nations, particularly the Netherlands, in their economic dealings, revealing a misuse of "national security" to interfere with normal business operations, ultimately harming their own business environment [1][5]. Group 1: Background of the Incident - The incident began in late September 2025, with the Dutch government accused of abusing "national security" concepts to intervene in Anshi Semiconductor's operations, which contradicts market principles [1]. - Anshi Semiconductor, previously a struggling division of NXP, was revived by China's Wentai Technology in 2018, leading to significant revenue growth and product success [3]. Group 2: Evidence of Collusion - Confidential documents revealed that the Netherlands and the U.S. had multiple discussions regarding "penetration rules," with the U.S. demanding changes in Anshi's management structure in exchange for sanctions relief [3]. - The timeline of events shows a coordinated effort, with the U.S. expanding sanctions just before the Netherlands enacted laws to freeze Anshi's assets and remove its Chinese CEO [3]. Group 3: China's Response - In response to the Dutch actions, China implemented export restrictions on specific components from Anshi's subsidiaries, targeting the company's production capabilities concentrated in China [4]. - The European automotive industry expressed concerns over potential disruptions in the supply chain due to Anshi's chip supply issues, indicating the broader impact of the conflict [4]. Group 4: Market Reactions - The capital market reacted dramatically, with a surge in demand for Anshi's materials and a subsequent rise in Wentai Technology's stock price after initial declines [4]. - The Dutch Minister of Economic Affairs acknowledged the need for negotiations, but the response from Anshi China emphasized its independence and operational stability [4]. Group 5: Broader Implications - The incident reflects a deeper contradiction in global economic practices, as countries like the U.S. and the Netherlands use "national security" as a guise for protectionism, undermining global supply chain stability [6]. - The situation illustrates that attempts to manipulate market dynamics through administrative means will ultimately backfire, reinforcing the importance of respecting market rules and contractual integrity [6].

Core Viewpoint - The article discusses the escalating crisis surrounding Nexperia, a major player in the global power semiconductor market, due to geopolitical tensions and operational disruptions caused by the Dutch government's actions against the company [5][24]. Group 1: Company Operations and Crisis - Nexperia's Chinese operations faced a severe crisis when the Dutch headquarters announced it would stop paying salaries to employees in China, leading to a complete freeze of system access for Chinese staff [6][7]. - The company claimed it was experiencing unlawful pressure and that the Chinese market had been abandoned by the European management [7][10]. - Nexperia is a key supplier for major automotive manufacturers globally, including BMW, Volkswagen, and Tesla, making the operational crisis particularly impactful for the automotive industry [10][11]. Group 2: Market Position and Impact - Nexperia ranks third among the top ten global power discrete device companies, with a market share of 14% in automotive power MOSFETs as of mid-2025 [8][12]. - The disruption in Nexperia's supply chain has led to significant concerns among European automotive manufacturers, who warned that a lack of chips could halt production [11][36]. - The crisis has prompted urgent measures from automotive manufacturers to secure alternative supplies, with some companies reporting a surge in orders for domestic semiconductor products [36][39]. Group 3: Geopolitical Context - The conflict surrounding Nexperia is rooted in geopolitical tensions, particularly between China and the Netherlands, exacerbated by U.S. pressure on semiconductor exports [19][24]. - The Dutch government has implemented a freeze on Nexperia's global operations, citing national security concerns, which has led to a rapid escalation of the conflict [24][28]. - The situation reflects broader issues of technology and geopolitical competition, with Nexperia's identity as a "Chinese-owned" company becoming a point of contention [19][24]. Group 4: Future Outlook - The ongoing crisis has led to discussions about the need for a balance between open collaboration and security in the semiconductor industry [41]. - There is a growing emphasis on achieving full supply chain autonomy within the semiconductor sector, particularly in light of the disruptions caused by geopolitical tensions [41].

Core Viewpoint - The semiconductor industry is experiencing renewed tensions, particularly with the Dutch government's sudden actions against Chinese company Nexperia, a subsidiary of Wingtech Technology, which has raised concerns over high-tech control and national security [1][3]. Group 1: Dutch Government Actions - The Dutch government has taken administrative control measures against Nexperia, citing "national security," resulting in a global operational freeze and asset freeze amounting to 14.7 billion RMB [3][8]. - A ministerial decree from the Dutch Ministry of Economic Affairs prohibits Nexperia and its 30 global subsidiaries from making any adjustments to assets, intellectual property, or personnel for a year [8]. - The Amsterdam Court of Appeal has suspended the CEO appointed by Wingtech Technology and appointed a non-executive director with decisive voting rights, effectively stripping Chinese control over Nexperia [8]. Group 2: Response from China - The Chinese Ministry of Commerce has strongly opposed the Dutch government's actions, criticizing the broad application of "national security" and direct interference in corporate affairs [5][10]. - The Ministry has indicated that it will take necessary measures to protect the legitimate rights of Chinese enterprises, referencing previous retaliatory actions against U.S. companies [11]. - Chinese officials have emphasized that the Dutch actions are a clear example of how U.S. "penetration rules" harm Chinese business interests, urging the Netherlands to maintain an independent stance [9][10]. Group 3: Impact on the Semiconductor Industry - Nexperia is a leading player in the global discrete and power chip market, crucial for the automotive semiconductor sector, with a product portfolio of nearly 16,000 items [7]. - The European Automobile Manufacturers Association (ACEA) has warned that disruptions in Nexperia's chip supply could severely impact the European automotive industry, with manufacturers struggling to find alternative suppliers [10]. - The ongoing situation has raised alarms within the global semiconductor supply chain, with potential production halts looming for automotive manufacturers if chip supplies are not restored quickly [10][11].

Core Viewpoint - Wentech Technology (600745.SH) faces significant challenges following the Dutch government's directive to freeze its subsidiary, Nexperia, impacting its operations and governance structure, leading to a sharp decline in stock price and market value [2][4][6]. Company Overview - Wentech Technology's stock peaked at 171.88 CNY per share in early 2020 after acquiring Nexperia, reaching a market capitalization of over 200 billion CNY [2][8]. - The company has transitioned to being fully focused on the semiconductor sector, particularly after selling its ODM business to Luxshare Precision in January 2025 [3][9]. Recent Developments - On October 12, Wentech announced that the Dutch government ordered a one-year freeze on Nexperia's assets and operations, citing national security concerns [2][4]. - Nexperia's foreign executives initiated a power struggle, leading to a court ruling that suspended the current CEO and imposed management changes [5][6]. Financial Impact - Nexperia's projected revenue for 2024 is approximately 14.7 billion CNY, and the company had previously achieved a peak revenue of 2.36 billion euros in 2022 [2][9]. - The operational freeze could lead to a decline in market share for Nexperia, affecting Wentech's overall business performance [10][11]. Industry Context - The situation reflects broader trends of technological protectionism, with the Dutch government intervening due to perceived governance issues and the strategic importance of Nexperia's products in sensitive sectors like automotive and consumer electronics [7][8]. - The semiconductor industry is witnessing a shift from prioritizing efficiency to emphasizing security, impacting how Chinese companies approach mergers and acquisitions [12][13]. Strategic Implications - The incident highlights the need for Chinese semiconductor firms to enhance control over acquired entities and develop independent technological capabilities to mitigate geopolitical risks [11][12]. - Future cross-border acquisitions may require a focus on compliance, local governance, and risk diversification to ensure sustainable competitive advantages [12][13].

Core Viewpoint - Yangjie Technology (300373) has seen a significant stock price increase of over 80% this year, attributed to strong performance forecasts and growth in the power semiconductor market driven by AI, new energy, and automotive electronics [1][2]. Financial Performance - The company expects a net profit of 937 million to 1.004 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 40% to 50% [1]. - For Q3 2025, the projected net profit is between 335 million to 402 million yuan, indicating a growth of 37.31% to 64.71% compared to the same period last year [1]. - The company's gross margin has shown a positive trend, improving quarter by quarter, which supports profit growth [1]. Market Position and Recognition - Yangjie Technology ranks among the top three in the "Top Ten Chinese Semiconductor Power Device Enterprises" for 2025 and is eighth in the OMDIA global discrete power semiconductor ranking [2]. - The company has received certifications from several international tier 1 clients, enhancing its recognition in the semiconductor industry [2]. - Yangjie Technology's product matrix overlaps significantly with that of Anshi Semiconductor, which has seen substantial growth in global rankings [2]. Strategic Initiatives - The company announced a plan to acquire 100% of Dongguan Better Electronics Technology Co., Ltd. for 2.218 billion yuan, which is recognized as a "little giant" enterprise in the manufacturing sector [3]. - A strategic cooperation agreement was signed with Xingyu Co., Ltd. to enhance collaboration in the automotive semiconductor sector, focusing on the entire supply chain [3]. - Yangjie Technology's first SiC chip production line has achieved mass production, and its overseas packaging base in Vietnam has also reached full production capacity [3].