On the afternoon of December 26, 2025, Wingtech Technology convened its fifth extraordinary shareholders' meeting of 2025, sending a resolute signal: the company is prepared not only to regain full control of Nexperia but also to pursue as much as US$8 billion in international arbitration claims.
The conflict, which erupted three months ago, has escalated from a corporate governance dispute into a high-stakes battle with potential implications for the global semiconductor supply chain. The struggle for control not only affects Wingtech's investment returns but also underscores the delicate stability of worldwide semiconductor production.
Battle lines drawn for control
At the meeting, Wingtech Chairman Yang Mu stated that any resolution must be premised on restoring the company's legitimate shareholder rights. Wingtech plans to reaffirm its position at a second hearing in the Netherlands in January 2026 and, if the matter remains unresolved within six months, is prepared to seek international arbitration to reclaim control and pursue damages up to US$8 billion.
Wingtech officials revealed that Nexperia China is addressing the challenge on two fronts: maintaining orderly production and operations, and complying with Chinese government directives to resume exports of products for civilian use. Since resuming shipments in mid-October 2025, Nexperia China has delivered more than 11 billion chips to over 800 global customers. To ensure a stable supply for domestic clients, Wingtech is also advancing efforts to localize Nexperia China's supply chain.
Localizing production amid uncertainty
The company is simultaneously verifying several domestic wafer suppliers, with plans to complete the process in the first and second quarters of 2026. At the shareholders' meeting, Wingtech emphasized its goal of achieving 80% domestic production capacity and capturing approximately 50% of global sales from the Chinese market.
According to Chinese media reports, including Yicai, Cailianpress, 21ic, and IT Home, Wingtech, which became embroiled in the Nexperia dispute in October 2025, is actively preparing for the challenges ahead. Yang stressed that any true resolution must restore Wingtech's full shareholder rights and legal control of Nexperia. In the Netherlands, Wingtech has initiated multiple legal proceedings, including potential international arbitration, seeking claims of up to US$8 billion.
Seeking negotiated settlement
At the same time, Wingtech has expressed willingness to negotiate with Nexperia Netherlands to find a mutually acceptable solution. Last week, the company held initial talks with independent directors and equity trustees appointed by the Dutch corporate court overseeing Nexperia.
On December 22, 2025, a spokesperson for China's Ministry of Commerce reiterated that the Nexperia issue stems from "improper administrative intervention" by the Dutch government and called for the immediate revocation of the ministerial order and withdrawal of lawsuits filed by former Nexperia executives in the Netherlands.
Dutch intervention sparked crisis
The current turmoil traces back to September 30, 2025, when the Dutch Ministry of Economic Affairs issued a ministerial order citing "serious governance deficiencies" at Nexperia. The order restricted the company's assets, intellectual property, operations, and personnel adjustments across 30 global entities for one year.
A week later, the Netherlands Commercial Court (NCC) issued a ruling further unfavorable to Wingtech, suspending Zhang Xuezheng from Nexperia's board, appointing foreign independent directors with decisive voting power, and placing nearly all Nexperia shares under third-party custody.
Although the ministerial order was suspended on November 19, 2025, the court's ruling remains in effect. Nexperia's control currently rests with management at the Dutch headquarters, while its equity remains in escrow, preventing Wingtech from exercising authority.
As the second hearing in the Netherlands approaches in January 2026, the cross-border semiconductor control battle is poised to enter a critical new phase, one that could reshape corporate governance and supply-chain stability in the global chip industry.
Article translated by Elaine Chen and edited by Jerry Chen
