Chinese court freezes $300M Nexperia assets

A Chinese court in Dongguan has frozen up to 2.14 billion yuan (about $300 million) in assets held by Dutch chipmaker Nexperia and its equipment arm, as Wingtech Technology pushes to regain control in a long-running ownership dispute. The asset freeze covers Nexperia’s stakes in four China-based units, including its semiconductor operations in Wuxi and Shanghai, and the equipment division’s subsidiary in Wuxi, with the measures taking effect between August 20 and 25 and lasting until August 2029. Wingtech filed the lawsuit in May against Nexperia, its parent and three executives, seeking 8 billion yuan in damages and alleging the defendants enforced discriminatory Dutch restrictions. The case has not yet gone to trial, and while the board and the ownership dispute remain unresolved, the freeze provides Wingtech with added leverage without changing management. The dispute stems from Dutch governmental intervention last year over concerns about the transfer of technology, funds, and assets, which led to export controls, a suspension of Wingtech’s voting rights, and subsequent Chinese actions to resume shipments after talks. Analysts say the broader implications touch on cross-border governance in the semiconductor sector and could affect global supply chains and investor confidence between China and the Netherlands.