Foreign media: While China's Wingtech Technology is involved in a geopolitical controversy with its Dutch subsidiary Nexperia, the company's net profit for the third quarter surged 280% to 1 billion yuan (about 149 million U.S. dollars), but at the same time warned of cash flow risks.
The company stated that due to unresolved control issues with Nexperia, if control over Nexperia cannot be restored by the end of 2025, the company may face the risk of temporary reduction in revenue, profits and cash flow.
Wingtech's semiconductor business generated revenue of 4.3 billion yuan in the third quarter, accounting for 97% of total revenue. Despite this, the company still faces many challenges, including being placed on the U.S. export control list and revenue decline caused by business divestiture.
Wingtech has sold most non-chip businesses, focusing resources on developing semiconductors.
Netherlands freezes assets of Wingtech's Nexperia Semiconductor
Original: www.toutiao.com/article/1846949071769612/
Statement: This article represents the views of the author.