Key facts
- A Chinese court has frozen up to 2.14 billion yuan ($300 million) of assets belonging to Dutch chipmaker Nexperia and its equipment arm.
- The asset freeze is part of a lawsuit filed by Wingtech Technology, Nexperia's Chinese owner.
- Wingtech is seeking 8 billion yuan in damages over alleged discriminatory Dutch restrictions.
- The Dutch government intervened in Nexperia's control last year, citing security concerns.
- The freeze covers Nexperia's stakes in four China-based businesses and will last until August 2029.
A Chinese court has frozen approximately $300 million of assets belonging to Dutch chipmaker Nexperia and its equipment arm, in a legal dispute initiated by Nexperia's Chinese owner, Wingtech Technology. The action stems from Wingtech's effort to regain control and seek damages after Dutch authorities intervened in Nexperia's ownership structure last year due to security concerns.
The dispute began when the Dutch government suspended Nexperia's chief executive and placed voting rights tied to Wingtech's shareholding under independent management. In response, China had previously imposed export controls on Nexperia's operations within the country, though these were later eased after diplomatic talks.
Wingtech and a subsidiary subsequently filed a lawsuit in May, alleging discriminatory Dutch restrictions and seeking 8 billion yuan in damages. The Dongguan Intermediate People's Court ordered the freeze, which impacts Nexperia's stakes in four of its China-based businesses, including semiconductor operations in Wuxi and Shanghai. The measures, effective from August 20 to August 25, are set to last until August 2029. Nexperia has not yet responded to requests for comment.