A court in Guangdong province ordered the freezing and seizure of assets worth about 2.14 billion yuan (approximately US$318 million) held by Nexperia and ITEC BV in China between August 20 and 28, 2026. The freeze will remain in place until August 24, 2029 [1, 2, 3].
The frozen assets include shares in four China-based subsidiaries: Nexperia Semiconductor China (100%), Nexperia Semiconductor Technology in Shanghai (99%), Nexperia Semiconductor (Wuxi) (100%), Nexperia Semiconductor (Shanghai) (100%), and ITEC Technology (Wuxi) (100%) [1, 2, 3].
Wingtech Technology Co, the Chinese parent company of Nexperia, initiated the asset preservation request that led to the court order [4, 1, 2, 3]. Wingtech sued Nexperia in China in May 2026 seeking at least 8 billion yuan (80 billion RMB) in damages and control over the Dutch chipmaker [4, 2, 3]. Wingtech also accused Dutch courts of discriminatory restrictions and named three Nexperia executives in the lawsuit [2, 3].
The dispute traces back to 2025 after the Dutch government intervened over concerns about technology transfer involving Nexperia's Chinese founder Zhang Xuezheng. Dutch courts appointed a custodian for most of Nexperia’s shares and suspended Zhang as CEO [4, 2, 3]. China responded with export controls blocking products from Nexperia's China assembly and testing site, which caused chip shortages for automotive customers [4, 2, 3]. Although China eased export curbs and the Dutch government suspended relevant powers over Nexperia in November 2025, the ownership battle remains unresolved [4, 2, 3].
Nexperia stated that the Chinese court’s measures do not affect the company's daily operations, management, or business continuity. It clarified that the freeze targets entities operating outside Nexperia BV’s governance since October 2025 [4, 1, 2, 3]. Wingtech said the impact on its financial position and profits is still uncertain [4]. Chinese sources also confirmed the court order “does not affect daily operations or management” and noted the case has not moved to substantive trial [1, 2].
Wingtech publicly announced the asset freeze on August 31, 2026 [4, 1, 2, 3]. The court order bars Nexperia and ITEC BV from transferring or disposing of the frozen assets until August 2029 [1, 2, 3].
