Wingtech Technology resumes trading after Dutch government, court actions impact Nexperia

Wingtech Technology's shares and convertible bonds will resume trading on October 13, 2025, after a temporary suspension addressing significant developments concerning its subsidiary, Nexperia. These include a September 30, 2025 order from the Dutch Ministry of Economic Affairs and Climate Policy, which imposed one-year restrictions on Nexperia's assets, intellectual property, business, and personnel. Subsequently, Dutch court rulings suspended Zhang Xue Zheng's roles at Nexperia, appointed an independent foreign director with decisive voting power, and placed Nexperia's shares under third-party management.

The company acknowledges potential impacts on operational efficiency due to temporary changes in the decision-making chain and reduced flexibility in resource allocation, but confirms Nexperia's daily operations continue. Wingtech's control over Nexperia is temporarily restricted, though its economic rights as a shareholder remain unaffected. Meanwhile, Wingtech has completed significant asset disposals as part of a major asset sale, with most transactions finalized by September 16, 2025, removing the related entities from its consolidated financial statements.

As of September 30, 2025, cumulative conversions of "Wingtech Convertible Bonds" totaled RMB 2,697,000, resulting in 31,405 new shares. Additionally, 40,568 shares were issued from the exercise of stock options during the the third quarter of 2025. These changes in share capital result in a total of 1,244,622,083 unrestricted shares, with no impact on the company's controlling shareholder.