On the evening of October 12, Wentai Technology announced that Nexperia, its holding subsidiary, has been subject to a freeze on adjustments to its assets, intellectual property rights, and other items since September 30, for a one-year period, in accordance with an order from the Dutch government. At the same time, some foreign executives of Nexperia have demanded the transfer of equity and suspended the position of the CEO appointed by Wentai Technology. The Dutch Enterprise Court has implemented emergency measures, including suspending the position and authority of CEO Zhang Xuezheng.
In response to this incident, Wentai Technology told the media that as a legitimate shareholder of Nexperia, it firmly opposes such unfair treatment. The company will use all legal and compliant means to unswervingly safeguard its shareholder rights and corporate interests. It believes that fair laws and market rules will eventually be upheld, and the current unreasonable interference cannot last.
Wentai Technology further stated that it calls on all parties to respect commercial laws and the symbiotic relationship of the global semiconductor industry, and to stop using enterprises as pawns in geopolitical games. A fragmented and politicized global supply chain will ultimately harm the interests of all participants.
In its situation overview, Wentai Technology pointed out that recently, Nexperia and its holding companies (collectively referred to as "Nexperia" hereinafter) have received a ministerial order from the Dutch Ministry of Economic Affairs and Climate Policy and a ruling from the Enterprise Chamber of the Amsterdam Court of Appeal.
The announcement also shows that Nexperia’s daily operations are still ongoing. However, affected by the aforementioned ministerial order and the Enterprise Court’s ruling, it will face temporary changes/extensions of the decision-making chain and reduced flexibility in resource allocation in the short term, which may have a certain impact on operational efficiency.
The ruling of the Enterprise Court has resulted in Yucheng Holdings temporarily losing the shareholder rights related to the remaining shares it holds in Nexperia. The company’s control over Nexperia is temporarily restricted, but its economic benefit rights as a shareholder remain unaffected.
According to industrial and commercial information, Yucheng Holdings is a wholly-owned subsidiary of Wentai Technology registered in Hong Kong, China, and is the sole shareholder of Nexperia Holding B.V.
(Reprinted from https://news.eccn.com/）