The Dutch government takes action against Wingtech's Nexperia: Director Zhang Xuezheng's position suspended, a foreign director will have decisive voting rights, and Chinese equity is reduced to only 1 share! Last year's revenue was 14.7 billion
The Dutch government has taken measures against Wingtech's controlling subsidiary, Nexperia, requiring a freeze on its assets and intellectual property adjustments for a period of one year. Zhang Xuezheng's directorship has been suspended, and a foreign director will have decisive voting rights, with Chinese equity reduced to just 1 share. Nexperia is expected to generate revenue of 14.7 billion RMB in 2024, accounting for one-sixth of Wingtech's total revenue
On October 12, Wingtech announced that the Dutch government issued an order on September 30, requiring the freezing of Wingtech's controlling subsidiary Nexperia's adjustments to assets, intellectual property, etc., for a period of one year. At the same time, some foreign executives of Nexperia requested Wingtech to transfer its equity in Nexperia and demanded the suspension of the CEO position appointed by Wingtech.
On October 6, 2025, Dutch time, the corporate court arranged a hearing, and on October 7, 2025, Dutch time, ruled on the following main matters as temporary emergency relief, effective from the date of the emergency measures ruling (i.e., October 7, 2025) until the final judgment of the case investigation is completed or otherwise concluded:
(1) Suspension of Zhang Xuezheng from his positions as non-executive director of Nexperia Holdings and executive director of Nexperia;
(2) Appointment of an independent foreign individual designated by the corporate court as a non-executive director of Nexperia Holdings and Nexperia, with decisive voting rights; at the same time, it was ruled that this director has the right to independently represent Nexperia Holdings and Nexperia;
(3) All shares of Nexperia (minus one share) will be held in trust for management purposes by personnel to be designated and announced later.
The ruling made by the corporate court directly resulted in Yu Cheng Holdings temporarily losing the remaining 99 shares of shareholder rights (such as governance rights and voting rights) in Nexperia Holdings, except for the one share retained.
Nexperia's revenue in 2024 is approximately 14.7 billion RMB, accounting for about one-sixth of Wingtech's total revenue in 2024.
Source: Daily Economic News, original title: "Breaking! The Dutch government takes action against Wingtech's Nexperia: Zhang Xuezheng's director position suspended, a foreign director will have decisive voting rights, and only 1 share of Chinese capital remains! Last year's revenue was 14.7 billion."
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