Chinese Court Freezes Nexperia Assets Amid Ownership Dispute
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Chinese Court Freezes Nexperia Assets Amid Ownership Dispute
- A Chinese court has frozen 2.14 billion yuan (approximately $318 million) in assets belonging to Dutch chipmaker Nexperia and its equipment arm, ITEC BV, as part of an ongoing dispute with its Chinese parent company, Wingtech Technology.
- This action follows a lawsuit filed by Wingtech in May 2026, seeking 8 billion yuan ($1.12 billion) in damages and alleging discriminatory restrictive measures imposed by the Dutch authorities.
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A Chinese court in Dongguan, Guangdong province, has ordered the freezing of assets held by Dutch chipmaker Nexperia BV and its equipment arm, ITEC BV. This move, announced by Wingtech Technology Co. on Monday, August 31, 2026, is the latest development in a protracted battle for control of Nexperia, which Wingtech acquired in 2019. The frozen assets, totaling 2.14 billion yuan (approximately $318 million), include Nexperia BV’s stakes in four China-based subsidiaries, such as its semiconductor operations in Wuxi and Shanghai, and ITEC BV’s 100% stake in ITEC Technology (Wuxi) Co Ltd. The asset freezes are expected to remain in place until August 2029.
The dispute originated in October 2025 when the Dutch government intervened at Nexperia, citing concerns about the potential transfer of technology, funds, and production assets abroad. A Dutch business court subsequently suspended Nexperia’s chief executive and placed voting rights tied to Wingtech’s shareholding under independent management. China responded by imposing export controls on Nexperia’s China operations, which disrupted shipments. While talks between Beijing and The Hague led to a resumption of supplies and the suspension of the Dutch order, Wingtech has not regained the voting control it lost.
In May 2026, Wingtech filed a lawsuit against Nexperia, its holding and equipment companies, and three executives, seeking 8 billion yuan in damages. Wingtech alleges that the defendants implemented or assisted in enforcing what it describes as “discriminatory restrictive measures” imposed by the Netherlands. Nexperia, which produces chips vital for the automotive and consumer electronics industries, stated that the court measures do not affect its day-to-day operations, management, or business continuity. The case has not yet gone to trial.