The background and issues surrounding Nexperia Semiconductor involve a series of events including the acquisition by Chinese capital and intervention by the Dutch government, with the controlling party being Wingtech Technology. The specific situation is as follows:
Acquisition History of Nexperia Semiconductor
Nexperia Semiconductor originated from a semiconductor internal team established by Philips in the Netherlands in 1953, becoming independent as NXP in 2006. In 2016, NXP’s standard component business was spun off to become Nexperia Semiconductor. In 2016, a consortium led by China JianGuang Asset Management acquired Nexperia Semiconductor for 18.1 billion RMB. Starting in 2018, Wingtech Technology, in collaboration with Gree and Yunnan City Investment, invested a total of 33.8 billion RMB in three rounds to achieve 100% control of Nexperia Semiconductor.
Intervention by the Dutch Government
In December 2024, Wingtech Technology was placed on the U.S. Entity List. On September 29, 2025, the U.S. Department of Commerce expanded the “50% penetration rule,” putting Nexperia Semiconductor at risk of sanctions due to Wingtech Technology’s ownership exceeding 50%. As early as June 2025, the Dutch Ministry of Foreign Affairs held a special meeting with the U.S. side, where the U.S. proposed that “the CEO of Nexperia Semiconductor must be replaced as he is Chinese.” In early September 2025, Zhang Xuezheng, Chairman of Wingtech Technology, made adjustments to Nexperia Semiconductor’s management, dismissing several foreign executives. However, this decision violated Dutch labor law as the union was not notified, rendering the dismissal “invalid.” On September 30, these three executives jointly sued Nexperia Semiconductor in the Amsterdam court. Without sufficient trial evidence, the Dutch court issued a temporary injunction, suspending Zhang Xuezheng’s position and mandating that 99% of Nexperia Semiconductor’s shares held by Wingtech Technology be forcibly entrusted to a third-party institution. On October 12, the Dutch Minister of Economic Affairs issued a ministerial order requiring Nexperia Semiconductor to enter a one-year “freeze period,” stripping the Chinese side of management rights.
China’s Countermeasures
In response to the actions of the Dutch government, the Chinese Ministry of Commerce quickly issued an export control notice, prohibiting Nexperia Semiconductor’s Chinese company from exporting components and parts manufactured in China. Nexperia Semiconductor’s Chinese company also released a public letter, clearly stating that its operations in China are running normally and that it will safeguard employee interests and customer supply. Currently, Nexperia Semiconductor is controlled by Wingtech Technology. However, the intervention by the Dutch government has severely challenged Wingtech Technology’s control and management rights over Nexperia Semiconductor.