On the evening of October 12, Zhou Tai Technologies issued a statement stating that the Dutch government, on the basis of the unnecessary "national security", implemented the global operation freeze on Anselm Semiconductor, was based on excessive intervention of geopolitical prejudice, rather than on the risk assessment based on facts. This move seriously violates the market economy, fair competition and international trade rules consistently advocated by the European Union. Anselm Semiconductor individual foreign management attempted to force Anselm Semiconductor equity structure through legal procedures, its appeals are highly linked with the Dutch government directives, the essence of the political pressure to deprive shareholders of rights, undermine the company's legal governance structure.

Screenshot of Wingtech Technology's statement

Extended reading

The Dutch government acquires only 1 Chinese-funded stake in Wingtech Nexperia

Designed by Thai Technological Logo.

Blue Whale News on October 12On October 12, Zhou Tai Technology (600745.SH) a paper announcement stirred the nerves of the semiconductor industry.

According to the company's announcement, the Dutch government issued an order on September 30 to freeze the assets, intellectual property rights and other adjustments of the holding subsidiary Anselm Semiconductor of Thai Technology for a period of one year.

Meanwhile, some foreign executives of Anselm Semiconductor demanded the transfer of Anselm Semiconductor¡¯s shares and demanded the suspension of the CEO positions assigned by Anselm Semiconductor. The Dutch corporate court immediately put into effect several emergency measures, including the suspension of Zhang Semiconductor¡¯s position as CEO.

Semiconductor is under control.

According to the company¡¯s announcement, the company¡¯s subsidiaries Anse Semiconductor and Anse Semiconductor Holdings (collectively ¡°Anse¡±) have recently received a ministerial order (Order) issued by the Dutch Ministry of Economic Affairs and Climate Policy and the decision of the Amsterdam Court of Appeal of the Corporate Court (the ¡°Corporate Court¡±).

Netherlands time 30 September 2025. The Ministry of Economic Affairs and Climate Policy of the Netherlands issued a ministerial Order to Nexperia, requiring Nexperia and all its subsidiaries, branches, offices and other 30 entities around the world not to make any adjustments to their assets, intellectual property rights, businesses and personnel, which is valid for one year.

At present, Nexperia's daily operations are still running continuously, but affected by the above-mentioned ministerial decree (Order) and corporate court rulings, it will face temporary changes/extensions of decision-making chains and decreased flexibility of resource allocation in the short term, which may have an impact on corporate operational efficiency. Form a certain impact. The company's control over Nexperia is temporarily restricted, and the company's economic income rights as shareholders remain unaffected. The company's shares and convertible corporate bonds will resume trading from the market opening on October 13th, and the company's convertible corporate bonds "Wentai Convertible Bonds" will resume conversion.

Meanwhile, some foreign executives of Anselm Semiconductor demanded the transfer of Anselm Semiconductor shares and demanded the suspension of the CEO positions assigned by Anselm Semiconductor.

On the afternoon of October 6, 2025, Dutch time, the corporate court arranged a hearing and ruled on the afternoon of October 7, 2025, Dutch time. The following main matters will be used as temporary emergency relief, starting from the date when the ruling on emergency measures takes effect (i.e. October 2025) until the final judgment of the investigation of this case is completed or concluded in other ways:

Suspend Zhang Xuezheng as a non-executive director of Anshi Semiconductor Holdings and an executive director of Anshi Semiconductor;

Appointing a foreign person appointed by a corporate court independent of Nexperia as a non-executive director of Nexperia Holdings and Nexperia with decisive voting rights; At the same time, it was ruled that the director had the right to independently represent Nexperia Holdings and Nexperia;

Place all shares of Nexperia (less one share) in escrow for administrative purposes to a person to be designated and announced later.

The ruling made by the corporate court directly caused Yucheng Holdings to temporarily lose the shareholder rights (such as governance rights and voting rights, etc.) of the remaining 99 shares enjoyed by Nexperia Holdings, except for the retained share.

In fact, this sudden management and control is not an isolated incident. Previously, at the end of 2024, Wingtech Technology had just been included in the entity list by the United States, which restricted the procurement of the original ODM business and accelerated the divestiture; After completing the divestiture of the consumer electronics business in July 2025, the company has fully focused on the semiconductor track. Anshi Semiconductor accounts for the core proportion of its semiconductor business. This control undoubtedly hits the key to its strategic transformation.

The picture shows Wingtech Technology Office Building

Anchor Semiconductor was the Philips Semiconductor Division.

Wingtech Technology was established in 1993 and is headquartered in Jiaxing, Zhejiang. It is a semiconductor company integrating R&D, design and manufacturing. In 2016, it was listed through the backdoor of Zhongyin. The company's business mainly covers three major sectors: semiconductor IDM, optical module and communication product integration, and has multiple fabs and packaging and testing plants around the world.

Despite becoming a global leader in the field of smart phone ODM after 2018, ZTE still faces the problem of core device dependence on imports.At the same time, the wave of automobile electronization drives the rapid rise in demand for power semiconductors.

Based on this, Wingtech Technology chose to acquire Nexperia in 2019. As an industry giant with a century-old history (formerly known as Philips Semiconductor Division), it ranks among the top three in the world in the fields of discrete devices and logic devices. Its customers include Bosch, Huawei and other well-known enterprises.

This move can not only compensate for the domestic shortcomings in the field of standard devices, but also use its vehicle standard technology to break into the car electronics track, and form the industrial chain in synergy with its own consumer electronics business.

Due to the complex ownership structure of Nexperia Semiconductor, Wingtech Technology has adopted an innovative "two-step" acquisition strategy:

The first step is to seize the opportunity by bidding for LP shares. In April 2018, Wingtech Technology took the lead in setting up a buyer's group through its wholly-owned subsidiary, and successfully won the LP share of the largest fund shareholder at the top of Nexperia Group for 11.435 billion yuan, laying the foundation for subsequent acquisitions. This financing integrates the capital of Guolian IC, Gree Electric and other parties, and adopts the parallel mode of "equity financing of 7.01 billion yuan + debt financing of 4.515 billion yuan", showing strong capital operation capabilities.

The second step is to comprehensive holding in the form of multi-payment. Zhou Tai Technology paid 99.5 billion yuan through the issuance of shares, paid 99.6 billion yuan in cash, and solved foreign exchange demand with foreign bank loans, eventually penetrating the holding 79.98% of the Ansel Group. This transaction not only broke through the funds and compliance barriers in cross-border mergers, but also built a model of integration of "Chinese Capital + Global Technology".

After the completion of the merger, despite facing challenges such as global travel restrictions, Wentai Technology still efficiently promoted the integration process through a combination of online collaboration and global field office. From 2021 to the third quarter of 2024, Anshi Semiconductor achieved a cumulative profit of 10.5 billion yuan and demonstrated strong recovery capabilities during the semiconductor down cycle.

The financial report shows that in the first half of 2025, Wentai Technology's operating income was 25.341 billion yuan, a year-on-year decrease of 24.56%; net profit attributable to the parent company was 474 million yuan, a year-on-year increase of 237.36%. From the perspective of business structure, the semiconductor business revenue was 7.825 billion yuan, accounting for approximately 30.9%, a year-on-year increase of 11.23%. The gross profit margin was 37.89%, and the net profit was 1.261 billion yuan; the product integration business revenue was 17.485 billion yuan, accounting for approximately 69.0%, and the net loss was 685 million yuan, which was in the process of divesting.