Nexperia's parent company, Wingtech Technology, issued a statement today (Nov. 24) urging Nexperia Netherlands to propose a constructive and sincere solution based on factual and legal grounds to restore Wingtech's legitimate control rights and full shareholder rights.
The statement indicated that since the improper intervention by the Dutch Ministry of Economic Affairs, Wingtech has proactively demonstrated goodwill, expressing its willingness to engage in constructive communication with Nexperia Netherlands regarding the restoration of its legitimate control rights and the proper resolution of the current dispute. This approach has been supported and facilitated by relevant Chinese government departments. Wingtech emphasized its belief that resolving differences through candid dialogue is the most practical and correct path to ensure the company's normal operations and the stability of the global chip supply.
However, despite Wingtech's demonstrated sincerity, Nexperia Netherlands has yet to provide any substantive response to the communication proposal. In light of this, Wingtech demands that Nexperia Netherlands put forward a constructive and genuinely sincere solution that respects the facts and the law to restore Wingtech's legitimate control rights and full shareholder rights.
The statement further emphasized that the stability of the global semiconductor industry is crucial to the overall development of the sector. Wingtech once again calls on all parties to act rationally and responsibly, working together to maintain the stability and prosperity of Nexperia and ensure the security of the global customer supply chain.
Nexperia, headquartered in the Netherlands, is a wholly-owned subsidiary of the Chinese listed company Wingtech Technology. On Sept. 29, the U.S. Department of Commerce issued new "through-through rules" for export controls, imposing equivalent sanctions on subsidiaries of Chinese companies listed on the U.S. Entity List that have over 50% ownership. Nexperia was the first to be affected. The Dutch government, citing the 1952 "Goods Supply Act," froze the assets, intellectual property, business operations, and personnel adjustment rights of 30 global entities of Nexperia. Additionally, without a court hearing, the Dutch court suspended Zhang Xuezheng, the Chinese founder of Wingtech, from his position as CEO of Nexperia and placed 99% of Wingtech's shares in Nexperia under mandatory third-party trusteeship.
On Nov. 19, Vincent Karremans, the Dutch Minister of Economic Affairs, issued a statement announcing the suspension of the administrative order against Nexperia.
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