China Is Asshoe

Inside Europe’s First National Security Seizure of a Chinese-Owned Chip-Maker;

The Dutch government has released court documents detailing the explosive national-security seizure of a Chinese-owned semiconductor firm, revealing that CEO Zhang Xuezheng fired senior European executives, transferred treasury powers to individuals “with no clear role,” and conducted more than $100 million in suspect financial transactions with Chinese-linked entities.

The disclosures, issued by the Amsterdam Court of Appeal, explain the intervention announced by the Dutch government—its first use of the Goods Availability Act, a Cold War-era national-security law—to seize control of Nexperia, a chip manufacturer headquartered in Nijmegen. The filings show that Dutch regulators and judges acted in response to a pattern of governance failures, conflicts of interest involving Zhang’s Chinese affiliates, and escalating U.S. export-control measures targeting Nexperia’s Shanghai-listed parent, Wingtech Technology Co.

According to the court, tensions inside Nexperia intensified in early September 2025. On September 4, Zhang revoked the banking mandates of the company’s Chief Financial Officer, Group Treasurer, and a senior financial officer, and reassigned them to individuals lacking treasury experience, including one person who was not employed by Nexperia. The following day, the company’s Chief Legal Officer raised formal objections, warning that the new arrangements departed from accepted corporate-governance standards.

I know, I find it hard to believe as well.