Chinese Court Freezes Nexperia Assets in Wingtech Control Dispute

A Chinese court has frozen approximately 2.14 billion yuan, or US$318 million, in assets belonging to Dutch chipmaker Nexperia and its equipment arm, deepening a protracted control battle with its Chinese owner, Wingtech Technology. The order, issued by the Dongguan Intermediate People's Court in Guangdong province, immobilizes equity interests in four Nexperia subsidiaries and one entity owned by its spin-off, Itec BV, across Dongguan, Shanghai, and Wuxi. The freeze is set to remain in place for three years, until August 2029.