Nexperia’s board asked the Enterprise Chamber of the Amsterdam Court of Appeal to act against its Chinese owner, Wingtech, and founder Zhang Xuezheng, citing conflicts of interest. The chamber suspended Zhang, placed all but one share with a court-appointed trustee, and ordered an inquiry. Wingtech’s side has appealed to the Dutch Supreme Court and sued Nexperia in China. It has threatened, but not filed, an $8B treaty claim against the Dutch state.
Latest development Sep 2, 2026
On September 2, 2026, the District Court of Gelderland allowed Yuching a preliminary witness hearing of two Nexperia executive directors. The hearing is limited to the termination and repayment of a $480M intercompany loan and may take place only after the Enterprise Chamber’s investigators file their report. The court refused the rest of the request, including questions for the Chinese lawsuit.
Why it matters
The case tests how far a Dutch court can intervene in a foreign-owned company on governance grounds when national security is in play. It also decides who controls a major supplier of chips to European carmakers.
Background
Nexperia, a chipmaker based in Nijmegen, is owned through Yuching Holding Limited of Hong Kong by Wingtech Technology, which is listed in Shanghai and controlled by Zhang Xuezheng. On September 30, 2025, the United States extended its Entity List restrictions to companies at least 50% owned by listed entities such as Wingtech, a rule that covered Nexperia. The same day, the Minister of Economic Affairs issued an order to Nexperia under the Goods Availability Act. The government cited concerns about transfers of assets, technology, and knowledge to a foreign entity. China then imposed export controls on Nexperia’s sites in China.
On October 1, 2025, Nexperia asked the Enterprise Chamber of the Amsterdam Court of Appeal to order an inquiry and immediate measures, alleging conflict-of-interest transactions directed by Zhang. The chamber acted ex parte that day. On October 7, 2025, after a closed hearing, it suspended Zhang as a director and appointed a non-executive director with a casting vote. It also transferred all but one of Yuching’s shares to a trustee. The minister suspended his order on November 19, 2025, and said the court measures were separate from it.
On February 11, 2026, after a hearing on January 14, the chamber found well-founded reasons to doubt sound policy at Nexperia. It ordered an inquiry into the period from December 1, 2023. It kept all the measures in place. Yuching and Zhang have appealed both sets of rulings to the Supreme Court. On June 12, 2026, Advocate General B.F. Assink advised the court to reject the appeals against the October rulings. In June 2026, the appeals against the February rulings were still being briefed. No Supreme Court ruling had been published by November 1, 2026.
Wingtech has also opened other fronts. It served notice of a dispute under the Netherlands-China investment treaty on October 15, 2025. In May 2026, it said it would start arbitration seeking more than $8B, but no filed claim had been made public by November 1, 2026. In May 2026, Wingtech and Yuching sued Nexperia and its directors in the Dongguan Intermediate People’s Court under China’s Anti-Foreign Sanctions Law. They seek about 8 billion yuan and the return of control. That court froze about 2.14 billion yuan of Nexperia’s Chinese assets in August 2026. Separately, Nexperia has demanded repayment of a $480M loan to Yuching.
Timeline 12 events
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JudgmentGelderland court allows a limited witness hearing of Nexperia directors
The hearing covers only the $480M loan to Yuching and may begin only after the Enterprise Chamber inquiry report is filed.
Rechtspraak: ECLI:NL:RBGEL:2026:6842Rechtspraak news, September 2026
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OrderDongguan court freezes about 2.14 billion yuan of Nexperia assets
The preservation order covers equity in Chinese subsidiaries held by Nexperia and ITEC and runs until August 2029. Nexperia said it was reviewing its legal options.
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OrderAdvocate General advises Supreme Court to reject Wingtech side’s appeals
Advocate General B.F. Assink found that the Enterprise Chamber’s five October 2025 rulings rested on correct law and adequate reasons. The advice does not bind the court.
Hoge Raad news, June 12, 2026Rechtspraak: ECLI:NL:PHR:2026:584
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FilingDongguan court accepts Wingtech’s anti-sanctions suit against Nexperia
Wingtech and Yuching seek about 8 billion yuan, withdrawal of the Dutch measures, or a transfer of Nexperia entities to Wingtech.
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JudgmentEnterprise Chamber orders an inquiry into Nexperia
The chamber ordered an investigation of policy and conduct from December 1, 2023, and kept Zhang’s suspension and the share transfer in place. It appointed two investigators on February 17, 2026.
Rechtspraak: ECLI:NL:GHAMS:2026:318Rechtspraak news, February 2026
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HearingEnterprise Chamber hears Nexperia’s request for an inquiry
The State and the works council supported Nexperia. Yuching and Zhang asked the chamber to reject the request and lift the measures.
Rechtspraak: Informatie en livestream zitting NexperiaRechtspraak: ECLI:NL:GHAMS:2026:318
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AppealYuching takes the October rulings to the Supreme Court
Wingtech said the rulings were improper because of the Dutch state’s involvement and because they were first made ex parte. Yuching’s appeal is case 25/04297, and Zhang filed his own (26/00005) on January 2, 2026.
Reuters via Yahoo Finance: Wingtech challenges Nexperia decisions at Netherlands’ Supreme CourtRechtspraak: ECLI:NL:PHR:2026:584Rechtspraak: ECLI:NL:PHR:2026:585
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OtherDutch government suspends its Goods Availability Act order
The minister suspended the order after talks with Chinese authorities. The Enterprise Chamber’s measures were unaffected.
Government of the Netherlands: Update on invoking Goods Availability Act (November 19, 2025)
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FilingWingtech serves notice of an investment treaty dispute on the Netherlands
The notice to the Dutch foreign and economic affairs ministries started a six-month negotiation period under the Netherlands-China investment treaty.
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JudgmentEnterprise Chamber suspends Zhang Xuezheng and hands shares to a trustee
After a closed hearing on October 6, the chamber suspended Zhang as a director for the duration of the proceedings. It transferred all but one of Yuching’s shares to a trustee.
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JudgmentEnterprise Chamber grants Nexperia ex parte measures against its owner
On Nexperia’s request, the chamber temporarily transferred Yuching’s shares to a trustee without hearing Yuching or Zhang, and barred the parties from discussing the case.
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OtherDutch economy minister issues Goods Availability Act order to Nexperia
The government said the order aimed to keep Nexperia’s production capacity available to Europe in an emergency. It was the first use of the act since 1952.
Government of the Netherlands: Update on invoking Goods Availability Act