Nexperia’s assets worth $318M frozen by Chinese court amid control dispute

A court in Dongguan, China, has frozen approximately 2.14 billion yuan (roughly $318 million) in assets belonging to Dutch chipmaker Nexperia B.V. and its equipment branch ITEC B.V. The order came after Wingtech Technology, Nexperia’s Chinese parent company, filed a property preservation application as part of a sprawling legal fight over who actually controls the semiconductor firm. The freeze covers Nexperia’s stakes in four subsidiaries based in China, including operational units in Wuxi and Shanghai, plus one ITEC subsidiary in Wuxi. It’s effective from August 2026 through August 2029. A parent company suing its own subsidiary The dispute traces back to late September and early October 2025, when US export control concerns surfaced related to Wingtech’s placement on the Entity List. That designation triggered Dutch authorities to impose restrictions on how Wingtech could exercise control over Nexperia, a company headquartered in the Netherlands. The Dutch government employed emergency powers under the Goods Availability Act, resulting in legal actions that saw a Dutch court suspend CEO Zhang Xuezheng and transfer voting rights management to an independent trustee. In May 2026, ...