The whole thing is a political and foreign ownership blues. They found some of their tech in the missiles Russia was using in the war a few months back, there was the ransom attack the year before, and now the order the US having an export ban on any American companies that are more than %50 owned in China.
It looks like in October 4, China did its own export ban on "select materials" and on the 7th the Netherlands government pushed out the then CEO Zhang Xuezheng because of mismanagement and the accusations made in the press releases are just jarring. The open letter on Nexperia's site is really telling. I am betting they haven't been able to get a hold of anyone in Wingtech's side. The day after they "officially" halted all exports and accused Nexperia, in my opinion, of going behind their back to find new suppliers. I am guessing Wingtech did this for barging power rather than admitting its because of the trade war.
What is really telling is if the interim CEO cannot get a hold of anyone on Wingtech's side. To take such drastic action as an open letter, in a public company, is either incompetence or desperation. Being the current CEO has only been there for a a month, I am betting the latter.
Is the court and the government getting the runaround as well? Is overreaction from Wingtech because they think they can bully the Netherlands courts to do what they want or is it because they got what they need from Nexperia and can cut them off at anytime, regardless of the consequences? Is China just pushing its trade war and Wingtech is just in the middle of all this or is Wingtech mismanagement so bad that the China branch jumping ship without anyone knowing?
The only thing you can trust from news sources or even my wild guesses is actions. The Netherland court turned over Nexperia to an independent governance because of apparent fraud. Wingtech halted exports either because of retaliation or because of new export controls. The only way anyone will know what's really going on in Nexperia will be the earnings call.
PS - The press releases are a hoot.