In a move that could dent China’s relations with the European Union, Chinese technology company Wingtech said control of its Dutch subsidiary Nexperia has been effectively frozen, following an intervention by a government ministry and court in the Netherlands.
In a corporate filing dated October 13, lodged with the Shanghai Stock Exchange on Sunday, Wingtech said semiconductor manufacturer Nexperia is now under temporary external management following an order from the Dutch Ministry of Economic Affairs.
In a WeChat post on Sunday that was subsequently deleted, Wingtech lashed out at the Dutch move and its claim that the action was taken for reasons of “national security”.
The corporate filing said that on October 1, Nexperia Semiconductor Holding and its Dutch chief legal officer, Ruben Lichtenberg, supported by chief financial officer Stefan Tilger and chief operating officer Achim Kempe, petitioned the Amsterdam Enterprise Court for an investigation and provisional measures.
On that same day, the Amsterdam Enterprise Court issued emergency interim rulings, which included suspending Wingtech chairman Zhang Xuezheng from his roles as executive director of Nexperia Holdings and non-executive director of Nexperia.

It also placed shares held by Wingtech’s Hong Kong subsidiary, Yucheng Holdings Ltd, under third-party management. On October 7, following a second hearing, the court extended the suspension of Zhang’s positions and appointed an independent foreign national as non-executive director with decisive voting rights.
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