What’s next after China court freezes US$318m in Nexperia assets amid Wingtech battle?
A Chinese court’s order to freeze 2.14 billion yuan (US$318 million) in Nexperia-affiliated assets has cemented the operational independence of its Chinese manufacturing engine from its European headquarters, leaving its local facilities increasingly isolated amid a prolonged custody battle. The Dongguan Intermediate People’s Court in the southern province of Guangdong, where Nexperia’s biggest…
A Chinese court has ordered the freezing of US$318 million worth of assets belonging to Nexperia-affiliated entities, as the company continues to battle Wingtech in a legal dispute over control. The decision, made by the Dongguan Intermediate People’s Court in Guangdong province, affects four subsidiaries in Dongguan, Shanghai, and Wuxi.
This measure aims to protect Chinese subsidiaries from assets being transferred or used as collateral, though daily operations should remain unaffected. The ruling is valid for three years, until August 2029. The dispute began in September when the Dutch government stepped in to limit Wingtech's control over Nexperia. Wingtech founder Zhang Xuezheng was removed as CEO the following month.
Since October, the Chinese manufacturing arm responsible for 70% of Nexperia's global output has become increasingly isolated from its European headquarters. The freeze may be lifted after a court ruling, which typically takes several months, but could be delayed if the case proceeds to litigation. Both Nexperia and Wingtech are seeking to regain control, with Nexperia reviewing its legal options and Wingtech continuing to pursue legal measures in the Netherlands.
Written by urgent.news from SCMP Tech's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
