Dutch Tighten Grip on Nexperia; Wingtech Slides | JQJO

Wingtech Technology plunged the maximum 10% after the Dutch government moved to exert control over its European unit, Nexperia, in a rare step that could strain China–Europe ties. The Hague invoked the Goods Availability Act in September to assume oversight of the Netherlands car chipmaker, citing national security. Nexperia may keep normal production, but authorities can block or reverse corporate decisions. The Dutch government is also requiring Wingtech to halt changes to Nexperia’s assets, business or personnel for up to a year, including at subsidiaries, the company said Sunday.