On the evening of October 23, Nexperia China Co., Ltd. issued a formal statement regarding the effectiveness of Mr. Zhang Qiuming's position as Vice President of Global Sales and Marketing for Nexperia. The company emphasized that to ensure business continuity and management stability for Nexperia globally and in China, under the relevant laws and regulations of the People's Republic of China, Nexperia (China) Co., Ltd. (hereinafter referred to as "Nexperia China") provides the following official statement regarding the recent unilateral decision by the Dutch headquarters to remove Mr. Zhang Qiuming from his role as Vice President of Sales and Marketing:

1. The decisions from the Dutch headquarters are not legally binding within China; 2. Mr. Zhang Qiuming's position remains unchanged; 3. Actions taken within Mr. Zhang's authority represent Nexperia China; 4. Nexperia China's business operations are functioning normally. All business activities, production operations, and external collaborations are being conducted orderly and lawfully, unaffected by any unilateral external decisions. We are fully capable of ensuring business continuity and stability.

Nexperia China asserted that the current dispute stems from concerns that individuals with vested interests in the foreign government and Dutch Nexperia are disregarding contractual principles and Chinese laws, disrupting the company's normal operations, and creating unnecessary confusion and conflict, while neglecting the company's interests, shareholder rights, and customer benefits. Changes in external environments will not undermine Nexperia China's legal compliance and stable operations, nor will they affect the long-standing solid, trusted, and mutually beneficial relationships with our partners and customers. The management of Nexperia China is fully committed and capable of continuing to provide excellent products and quality services.

Additionally, at noon on October 23, Nexperia China issued a letter to customers, mentioning that all production and operations of Nexperia China are progressing smoothly. The board, management team, and all employees are striving to ensure supply chain stability for customers. The company consistently prioritizes customer interests and considers ensuring the continuity of customer production its highest goal at this stage.

Nexperia China promises that all products manufactured and delivered in China comply with local laws and regulations, meet the stringent standards of technology, production processes, and quality required by Nexperia, and fulfill the contractual agreements with customers, undergoing rigorous inspections during the quality control phase.

On October 12, Wingtech Technology disclosed in an announcement that its key semiconductor asset—Nexperia, which contributes over ten billion yuan in revenue—was unexpectedly subjected to dual restrictions from the Dutch government and courts. The Dutch Ministry of Economic Affairs and Climate Policy issued a ministerial directive, demanding that Nexperia and its 30 global entities freeze their assets, intellectual property, business, and personnel for one year, prohibiting any adjustments.

Subsequently, a local Dutch court, responding to an urgent request from three foreign senior executives of Nexperia, ruled to suspend Wingtech Technology's founder and chairman Zhang Xuezheng's director position at Nexperia, appointing an independent director with 「decisive voting rights」 and nearly all equity held by Wingtech to be managed by a third party.

On October 21, Minister of Commerce Wang Wentao spoke with Dutch Economic Minister Caroline van der Plas, exchanging views on issues including Nexperia. Wang noted that China attaches great importance to China-Netherlands economic and trade cooperation and expressed concern that measures taken by the Dutch side regarding Nexperia severely impact the stability of the global supply chain. China urges the Netherlands to solve the issue promptly while considering the broader context of maintaining global supply chain security and stability, abiding by contractual principles and market-oriented and legal principles, thereby protecting the legitimate rights and interests of Chinese investors and fostering a fair, transparent, and predictable business environment.

Minister van der Plas expressed that the Dutch side places high importance on economic and trade relations with China and is willing to maintain close communication with China to find constructive solutions to the Nexperia issue.

Furthermore, according to CCTV news on October 16, the China Semiconductor Industry Association issued a statement opposing the interference of the Dutch local government in the operations of Nexperia, and at a press conference on the same day, a spokesperson from the Ministry of Commerce responded.

Ministry of Commerce spokesperson He Yongqian stated: China firmly opposes the Dutch side's broad interpretation of the "national security" concept by directly intervening in the internal affairs of enterprises through administrative means. Such actions violate contractual principles and market rules and seriously damage the business climate in the Netherlands, harming both sides. The Chinese side also noted that documents released by the Dutch court on October 14 showed that both the Dutch and US sides had communicated about the "transparency rules," with the US suggesting the replacement of the Chinese CEO of Nexperia and "adjusting governance structures" to avoid sanctions from the "transparency rules."

Spokesperson He emphasized that the Chinese government has clearly expressed its position on the US's "transparency rules," stating that such actions severely disrupt the international economic order and seriously undermine the security and stability of global industrial and supply chains. The Dutch actions exemplify how the US’s "transparency rules" negatively affect the legitimate rights of Chinese enterprises.

He reiterated: The US's "transparency rules" are the origin of harm to Chinese enterprises, and hopes the Dutch side can maintain its independence, consider the maintenance of China-Netherlands economic relations and the stability of the global semiconductor supply chain, respect the objective facts, uphold contractual spirit and market principles, rectify erroneous practices, effectively protect the legitimate rights and interests of Chinese investors, and create a fair, transparent, and predictable business environment. China will take necessary measures to uphold the legitimate rights and interests of Chinese enterprises.