Dutch Court Orders Probe Into Nexperia, Keeps Wingtech Frozen Out
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A Dutch court has ordered a formal investigation into chipmaker Nexperia Holding BV and maintained emergency measures stripping its Chinese parent Wingtech Technology Co. Ltd. (600745.SH) of control, prolonging a governance battle that has disrupted supply chains.
The Enterprise Chamber of the Amsterdam Court of Appeal ruled that temporary measures imposed on Nexperia in October, including suspending its Chinese CEO and transferring management of Wingtech’s 99% stake to an independent trustee, will remain in place during the probe, according to a stock exchange filing by Wingtech on Thursday. The measures effectively stripped the Chinese parent of its voting and governance rights.
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- A Dutch court ordered a formal investigation into Nexperia, keeping its Chinese parent Wingtech stripped of governance and voting rights, with asset control given to an independent trustee.
- The dispute has disrupted semiconductor and automotive supply chains; Wingtech expects a 2025 net loss of 9–13.5 billion yuan, and its shares fell 4.66%.
- The timeline for resolution is uncertain, with legal processes expected to be lengthy and ongoing impacts on operations.
- Nexperia Holding BV
- Nexperia Holding BV is a Dutch chipmaker fully owned by Chinese parent Wingtech Technology Co. Ltd. A Dutch court ordered an investigation into Nexperia and maintained emergency measures, suspending its Chinese CEO and transferring control of Wingtech's stake to an independent trustee. This has effectively stripped Wingtech of its voting and governance rights and caused supply chain disruptions.
- Wingtech Technology Co. Ltd.
- Wingtech Technology Co. Ltd. (600745.SH) is the Chinese parent company of Nexperia Holding BV. Wingtech's 99% stake in Nexperia has been transferred to an independent trustee by a Dutch court, stripping Wingtech of control and leading to "profound disappointment." This dispute has severely impacted Wingtech, with an expected net loss of $1.3 billion to $1.9 billion for 2025.
- China Chengxin International Credit Rating Co. Ltd.
- China Chengxin International Credit Rating Co. Ltd. downgraded Wingtech Technology Co. Ltd.'s credit rating with a negative outlook. This action followed Wingtech's projection of a significant net loss for 2025, primarily due to impairment charges related to its Nexperia investment.
- September 2025：
- The Dutch Ministry of Economic Affairs mandated a freeze on asset adjustments at Nexperia.
- Late 2025：
- The conflict between Wingtech and authorities erupted.
- After September 2025：
- Nexperia’s local leadership, including Chief Legal Officer Ruben Lichtenberg, petitioned the court for emergency measures.
- By February 12, 2026：
- The Enterprise Chamber of the Amsterdam Court of Appeal ordered a formal investigation into Nexperia and maintained the emergency measures.
- Thursday, February 12, 2026：
- Wingtech publicly expressed disappointment with the decision and noted a shares drop of 4.66%.
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