Significant financial consequences for Nexperia owner Wingtech are now evident in the 2025 annual report published by the Chinese company. A net loss equivalent to 1.2 billion euros appears to have been largely caused by a write-down on its stake in Nexperia.
That loss is primarily an accounting one. Wingtech wrote down 8.95 billion yuan on Nexperia after the value of that stake was adjusted to 24.38 billion yuan (approximately 3.4 billion euros). The immediate cause is obvious: the loss of actual control over the Dutch chip manufacturer. “It is not our intention to harm the interests of Wingtech’s shareholders,” Nexperia stated in a release.
No confirmation from auditors
At the same time, Nexperia stated that it had provided all necessary support to Wingtech’s auditors in recent months. This is striking, as accounting firm RSM claims to have no access to Nexperia’s financial data, even though it accounts for 57 percent of Wingtech’s assets.
Because RSM has no access to the chipmaker’s figures, the firm cannot confirm with certainty that Wingtech’s financial statements provide a true and fair view. This casts doubt on the reliability of the published financial figures.
Independence following court intervention
Nexperia has been operating independently of Wingtech since October 2025. At that time, the Amsterdam Enterprise Chamber suspended founder Zhang Xuezheng as CEO due to mismanagement. The Dutch government had previously intervened under the Goods Availability Act but later withdrew. The cabinet subsequently stated that it is up to the companies and the courts to resolve the remaining disputes. In February, the Enterprise Chamber also ordered a formal investigation into Nexperia’s policies due to well-founded doubts regarding proper governance.
As previously described in detail, the conflict had already led to a de facto split. The Chinese manufacturing division now operates independently of the European headquarters. National financing institution Invest International provided Nexperia with a $60 million loan in early 2026 to strengthen its international production capacity.
Nexperia reported on Thursday that Wingtech has not agreed to talks regarding a resolution. Wingtech’s annual report, published on Wednesday, also reveals that Zhang Xuezheng stepped down as chairman in January 2025, even before the Nexperia conflict began, but that he continues to exercise substantive control over the company.