Wingtech Technology filed a lawsuit in a Chinese court seeking at least 8 billion yuan in damages from the Netherlands and restoration of control over chip manufacturer Nexperia. The case was filed with the Dongguan Intermediate People’s Court and relies on the Chinese Anti-Foreign Sanctions Law. Wingtech claims Dutch government measures and related court rulings that limit its control over Nexperia amount to discriminatory foreign sanctions. The dispute escalated in late September 2025 when the Dutch government intervened at Nexperia to prevent transfer of chip technology know-how. After a CEO misappropriation of trade secrets, the Amsterdam Enterprise Chamber suspended the CEO and investigated the board. Wingtech also wrote off nearly 9 billion yuan on its Nexperia stake after auditor RSM refused to approve annual financial statements. Invest International later provided a $60 million loan to Nexperia to expand global production capacity.
"Wingtech Technology has filed a lawsuit in a Chinese court, seeking at least 8 billion yuan (approximately $1 billion) in damages from the Netherlands and the restoration of control over chip manufacturer Nexperia. The company is invoking the Chinese Anti-Foreign Sanctions Law. Shanghai-listed Wingtech filed the case with the Dongguan Intermediate People's Court. The company argues that the Dutch government measures and associated court rulings that limit its control over Nexperia constitute discriminatory foreign sanctions."
"The problems escalated in late September 2025, when the Dutch government intervened at Nexperia. Fearing that chip technology would be transferred to China, the government imposed restrictions on Nexperia to keep technological know-how in the Netherlands. Shortly thereafter, it emerged that the then-CEO had misappropriated trade secrets. The Amsterdam Enterprise Chamber suspended him and launched an investigation into the board."
"The financial blow to Wingtech was significant. The company wrote off nearly 9 billion yuan on its stake in Nexperia after auditor RSM refused to approve the annual financial statements. RSM no longer had access to Nexperia information outside of China. The consequences of the Nexperia saga are thus also far-reaching from an accounting perspective."
"Wingtech had previously prepared an international arbitration case against the Dutch government. The new lawsuit under Chinese law now adds an additional legal avenue to that. That law allows companies to challenge foreign measures deemed discriminatory before Chinese courts. Meanwhile, in early 2026, Invest International provided a $60 million loan to Nexperia to further expand its global production capacity."
Read at Techzine Global
Unable to calculate read time
Collection
[
|
...
]