(Sept 1): Nexperia BV’s owner Wingtech Technology Co said a Chinese court froze 2.14 billion yuan (RM1.29 billion or US$318 million) worth of assets held by the Dutch chipmaker, the latest in a protracted tussle for control of the company.

A court in China’s Guangdong province ordered the seizure and freezing of assets held by Nexperia and ITEC BV following a property preservation application filed by Wingtech and its subsidiary, according to the filing.

This comes after Wingtech sued Nexperia in China in May, seeking at least eight billion yuan in damages and the restoration of control over the Dutch firm.

“The impact of this event on the company’s financial condition, current period profit and future period profit is still uncertain,” Wingtech said in an emailed statement. The case has not been heard in court yet.

Wingtech has been embroiled in a dispute over the control of Nexperia. It was triggered by the Dutch government’s intervention in 2025 over concerns that the Chinese firm’s founder Zhang Xuezheng was pushing for technology transfers that would have hobbled the Dutch chipmaker. Wingtech has denied that claim.

Amsterdam’s Enterprise Chamber separately moved to place most of Nexperia’s shares with a court-appointed custodian, appoint a trustee to oversee the firm and suspend Zhang as the chipmaker’s CEO. China retaliated by blocking exports from Nexperia’s China assembly and testing site, which resulted in chip shortages and caused production snarls at several automotive companies that it supplies.

Tensions eased in November after China relaxed export curbs and the Dutch government suspended its powers over Nexperia. Still, the rift between the two sides has remained as Nexperia operations are effectively split with both trying to grow share independently of one another.

The measures announced by the Chinese court do not affect the day-to-day operations, management, or business continuity of the firm, Nexperia said in the statement. They relate “solely to entities in China that have been operating outside Nexperia BV’s governance structures since October 2025", over which the firm has “no control", it said.

The Amsterdam court in February also announced an investigation into Nexperia, citing concerns around policy and affairs. It is not known when this will conclude.

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