A logo of Nexperia Photo: VCG

Wingtech Technology has formally sent letters to the Dutch-appointed custodians of shares in Nexperia's Dutch unit, proposing constructive discussions on the dispute. The company aims to bridge differences through dialogue and seek a long-term solution that serves all parties, according to a statement on Wingtech's website on Wednesday.

The company said the formal invitation represents another important effort by Wingtech to advance the resolution of the dispute and reflects its sense of corporate responsibility. 

Wingtech reaffirmed its position as the lawful controlling shareholder of Nexperia's Dutch unit and clear requirement to restore Wingtech's lawful control and full shareholder rights of its subsidiary firm, noting that it is the core prerequisite and fundamental basis for resolving the Dutch unit's current governance impasse.

Wingtech said that since the Dutch side imposed unilateral intervention measures on Nexperia, the company's operations and global supply chain stability have been significantly affected. These actions have not only harmed Wingtech's lawful rights and interests as a shareholder, but have also disrupted the supply-chain security of Europe's automotive and semiconductor industries. In response, the company has actively sought to resolve the dispute through lawful and constructive channels, repeatedly expressed its willingness to communicate, and made substantive efforts to do so.

The company said the proposal demonstrates Wingtech's willingness to engage in open communication with the Dutch government, the shareholding custodians, and other relevant parties, with the goal of restoring Nexperia's normal governance structure, restoring a healthy development path, and safeguarding the stability and smooth functioning of the global semiconductor supply chain.

In September, the Dutch government seized control of Nexperia from its Chinese parent company Wingtech Technology over so-called economic security concerns and suspended its CEO Zhang Xuezheng. On October 4, Nexperia's Dutch unit claimed on its website that China had prohibited Nexperia China and its subcontractors from exporting certain finished components and sub-assemblies manufactured in China.

The incident initiated by the Dutch government triggered chip shortages for European and global automakers.

On November 27, Nexperia's Dutch unit claimed in an open letter that it had repeatedly tried to resume talks with the Chinese subsidiary but had received no response. Nexperia China on the same day strongly denied the allegation, accusing the Dutch unit of misleading the public.

Chinese Commerce Minister Wang Wentao held a meeting via video link on November 26 with the European Commissioner for Trade and Economic Security Maros Sefcovic for in-depth exchanges on issues including the Nexperia case and other trade and investment matters, according to a statement published on the website of the Ministry of Commerce.

Wang stressed that regarding the Nexperia case, the root cause and responsibility for the current disruption in the global semiconductor supply and industrial chains lie with the Dutch side. He noted that the Chinese government has consistently acted responsibly, taking timely and concrete measures to help maintain and restore stability in the global semiconductor supply chain, according to the statement.

Global Times