The Dutch court ordered an investigation into the company's management, which caused great dissatisfaction at the parent company.
Previously in 2023, the Netherlands triggered the "Anshin incident," causing a "major earthquake" in the global automotive supply chain. Now it still insists on continuing its course of action.
According to reports from the Dutch newspaper De Telegraaf and Reuters, on February 11 local time, a Dutch appellate court ruled to formally investigate Anshin Semiconductor's alleged "mismanagement." The ruling also upheld the Dutch government's previous decision to suspend the Chinese CEO of Anshin Semiconductor and allowed the company's European interim management team to remain in their positions.
Anshin's parent company, WenTai Technology, expressed "extreme disappointment and strong dissatisfaction," emphasizing that it would continue to defend its rights through all legal means.
The U.S. Wall Street Journal stated that this move could rekindle tensions between China and Europe. In September last year, the Netherlands forcibly took over a Chinese-invested enterprise, leading to supply disruptions. At that time, the global automotive supply chain faced a crisis, affecting automakers in the U.S., Europe, and Japan.
In October last year, the Dutch caretaker government had already announced an end to its interference with Anshin Semiconductor. Meanwhile, Anshin (Netherlands) and WenTai Technology submitted the dispute to the Amsterdam Commercial Court. WenTai Technology accused Anshin (Netherlands)'s interim management of disrupting operations and damaging the supply chain, and applied to the court for the formal cancellation of the caretaker government's intervention actions.
On February 11 local time, the Amsterdam Commercial Court rejected WenTai Technology's request and ordered a formal investigation into Anshin Semiconductor.
It is worth noting that the new Dutch cabinet lineup has been basically finalized this Monday. After the diplomatic crisis caused by the forced takeover of the Chinese-invested enterprise Anshin Semiconductor, a large number of China-hawks have entered the new Dutch cabinet and assumed important positions.
The court stated that they had "sufficient reasons" to question Anshin Semiconductor's policies and business practices, and mentioned that "there are indications" that the Chinese CEO of Anshin Semiconductor "unilaterally changed the company's strategy in response to U.S. export restrictions."
The court also stated that the company currently "mainly needs stability in order to be able to repair its internal relations, production chain, and delivery to customers."
According to reports, two independent investigators will soon be assigned to conduct the investigation. It is currently unclear about the specific investigation timeline, but the court pointed out in its ruling that such investigations "are not uncommon to last more than six months."
Anshin (Netherlands) welcomed the ruling, stating that it would cooperate with the investigation and hopes to quickly engage in constructive and meaningful dialogue with the Chinese management.
At 12:00 AM on February 12, WenTai Technology issued a statement expressing "extreme disappointment and strong dissatisfaction" with the ruling, pointing out that this would continue to harm the interests of tens of thousands of employees, over 25,000 customers, and the global industrial chain.
The statement mentioned that the ruling has expanded the scope of the investigation to the current interim management of Anshin Semiconductor, saying, "WenTai Technology has never feared any just, transparent, and comprehensive investigation. On the contrary, we warmly welcome the truth being revealed in the true sense."
"We reiterate: the only solution that can save Anshin Semiconductor, stabilize the global supply chain, and protect the legitimate rights and interests of all stakeholders is to immediately and unconditionally revoke all interim measures and restore WenTai Technology's legitimate shareholder rights," the statement said.
WenTai Technology stated that it will continue to resolutely fight for the complete restoration of its full legal control and governance rights over Anshin Semiconductor through all legal means. This is the only correct way to end the current chaos and bring Anshin Semiconductor and the semiconductor industry chain back to a healthy development track.
Original article: toutiao.com/article/1856885040992259/
Statement: The article represents the views of the author himself.