A court in Dongguan, China, has frozen approximately 2.14 billion yuan ($318 million) in assets belonging to Dutch chipmaker Nexperia and its equipment branch ITEC. The order came after Wingtech Technology, Nexperia’s Chinese parent company, filed a property preservation application amid a legal dispute over control of the semiconductor firm. The battle escalated after Wingtech was placed on the US Entity List, prompting Dutch authorities to restrict how Wingtech could exercise control over its Netherlands-based subsidiary, using emergency powers under the Goods Availability Act. In May 2026, Wingtech escalated by filing a lawsuit seeking 8 billion yuan in damages, invoking China’s Anti-Foreign Sanctions Law. The company reported a 2025 net loss of 8.7 billion yuan, with the control restrictions on Nexperia cited as a contributing factor.
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