For Institutions
About
China Says Nexperia, Wingtech in Talks, Calls for More Negotiations
Wingtech Technology's chairwoman, Ruby Yang, is pressuring the Dutch government to return control of chipmaker Nexperia to its Chinese parent, warning of global semiconductor supply disruptions. A Dutch court's freeze on Wingtech's control has led to a breakdown in coordination between Nexperia's European and Asian operations, affecting automakers like Honda. Wingtech is appealing the ruling and may seek $8 billion in international arbitration if control isn't restored. The dispute involves a stalled wafer fab project in Shanghai and accusations of misconduct by Nexperia's executives.
China's commerce ministry confirmed talks between Wingtech and Nexperia B.V., urging further negotiations on ownership and supply chains. The ministry called for the Dutch government to revoke its administrative order to facilitate positive conditions for negotiations and restore chip supplies to automakers, including those in China.
Wingtech's chairwoman Ruby Yang warned that the global AI chip and semiconductor supply chain is under threat due to a dispute over control of Nexperia. The Dutch court ruling split Nexperia's operations between the Netherlands and China, causing supply disruptions. Ruby accused the Dutch state of violating a bilateral investment treaty and claimed Dutch managers are exploiting the situation. The dispute has led to production issues for companies like Honda. Wingtech may seek international arbitration if unresolved in six months, with potential claims up to $8 billion.
VeriSilicon Microelectronics Shanghai Co Ltd :SAYS LOCK-UP PERIOD FOR 4.7% STAKE IN CO TO END, SHARES TO START TRADING DECEMBER 30
