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Wingtech闻泰科技

600745Shanghaiwingtech.comReviewed 2026-08-30

Wingtech is a Shanghai-listed electronics integration company whose semiconductor importance comes mainly through Nexperia, the Dutch discrete/logic/MOSFET supplier it acquired in 2019.

Scale

~$4.3Brevenue FY2025 · CNY 31.3B
~$2.9Bmarket cap · 2026-10-04

Gap vs frontier

—gap not quantified

Wingtech.

Company at a glance

Scale

Revenue down 49% since FY2023

Growth prospects

Expanding customer base and product roadmap

Nexperia reported roughly US$2.1B revenue in 2022, 100B units produced in 2022, and about 14,000 employees in 2024.
All sourced facts (8)
  • Headquarters: Jiaxing, Zhejiang.
  • Sanctions / export controls: listed · US BIS Entity List · Restricts Nexperia China's access to US-origin items and suppliers; reported to have pushed Nexperia China to seek alternative wafer suppliers amid the legal standoff with its Dutch parent
  • Listing status: Shanghai Stock Exchange · 600745 · A-shares
  • Founding and listing: Founded in 2006; Shanghai-listed company with ticker 600745.
  • Nexperia acquisition: Wingtech acquired Nexperia in 2019; Nexperia traces to NXP/Philips standard-products assets and became independent in 2017.
  • Nexperia scale: Nexperia reported roughly US$2.1B revenue in 2022, 100B units produced in 2022, and about 14,000 employees in 2024.
  • Export-control status: Wingtech was added to the U.S. Entity List in December 2024.
  • Governance risk: Dutch intervention/control dispute around Nexperia escalated in 2025-2026; recent secondary reporting says auditors could not verify 57% of Wingtech assets tied to Nexperia.

About

Chinese listed electronics group (SSE 600745) operating two service fields: Product Integration (ODM/product integration) and Semiconductor (via Nexperia, a discrete/analog/small-signal component supplier). Entity boundary over Nexperia is contested (ongoing control dispute).

Shanghai · Ticker 600745

Why it matters

Wingtech matters because it is a messy but important entity-boundary case: China gained control of a global-standard discrete semiconductor supplier, but geopolitics and governance now affect how much of that capability can be treated as China-controlled.

Where it sits in the stack

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Key semiconductor products

  • Product Integration·产品集成业务ODM/product integration services for electronics devices
  • Semiconductor business·半导体业务Discrete/analog/small-signal semiconductor components, operated via Nexperia
  • GaN FET products·2024Gallium nitride FET components produced by the semiconductor (Nexperia) business; recognized with a 2024 industry product award
  • Discrete/small-signal/analog component portfolio (via Nexperia) — statusreported. Core to the semiconductor arm's positioning as a high-volume standard-component supplier.
  • Discrete semiconductors
  • Logic and analog ICs
  • MOSFETs
  • SiC/GaN power devices

Financials

600745.SS · Shanghai Stock Exchange 600745 · via Yahoo Finance ↗

Financial trajectory via annual filings via Yahoo Finance

RMB billions
RMB 61.2BRMB 1.18B
2023
RMB 73.6BRMB -2.83B
2024
RMB 31.3BRMB -8.75B
2025

Market data refreshed daily; annual figures from exchange filings. Figures in the reporting currency shown on the chart.

Ecosystem

Investors / affiliates

  • Nexperia
  • Wingtech Product Integration (ODM) business

Customers / end markets

  • Wingtech/Nexperia
  • Wafer suppliers (alternative)
  • Product integration customers reportedly include major electronics/device brands; semiconductor customers are mostly through Nexperia's automotive, industrial, mobile, and consumer channels
  • For public charts, label Nexperia relationships as subsidiary/contested-control rather than ordinary supplier relationships when governance risk is active

Competitors

  • Infineon
  • onsemi
  • STMicroelectronics
  • Rohm
  • Toshiba Electronic Devices & Storage
  • Yangjie Electronic Technology

Global peer set

  • Vishay, Diodes Inc., Infineon, onsemi, STMicroelectronics, Rohm, and Toshiba for standard products/discretes
  • Luxshare and large ODMs are relevant to Wingtech's product-integration side but not to Nexperia's semiconductor capability

Affiliates

  • Nexperia (Netherlands, consolidated subsidiary)
  • Luxshare Precision (acquirer of ODM business)

Competitive position

  • China position: Leading only if Nexperia control is counted; otherwise Wingtech is a contested-control semiconductor exposure rather than a clean domestic capability node.
  • Global reference companies: Nexperia, Vishay, Diodes Inc., Infineon, onsemi, STMicroelectronics, Rohm, and Toshiba for discretes, MOSFETs, logic, and protection devices.
  • Strength metric: Nexperia unit volume, automotive/industrial customer continuity, control status, and whether semiconductor revenue remains consolidated.
  • Nexperia is among the established global top tier in high-volume standard discretes, logic, and MOSFETs; its China 12-inch capacity and wide-bandgap push are reported to add capability the Dutch parent does not, though specific market-share and node-level benchmarks are not disclosed in available sources.
  • Entity-List restrictions, Dutch-government oversight of the Dutch entity, and wafer-supply dependence are the main constraints.
  • Global comparables: Vishay, Diodes Inc., Infineon, onsemi, STMicroelectronics, Rohm, and Toshiba for standard products/discretes.
  • Global comparables: Luxshare and large ODMs are relevant to Wingtech's product-integration side but not to Nexperia's semiconductor capability.
  • Ownership/control of Nexperia semiconductor business: Company states restoring lawful control over Nexperia is core to resolving the Nexperia issue; control dispute creates entity-boundary and reporting risk.

Recent activity

  • 2025-08—Most domestic equity transfers of the ODM subsidiaries reported as completed around the August 2025 announcement [via tomshardware.com]
  • 2025—Agreed to divest the Product Integration (ODM/manufacturing) subsidiaries to Luxshare Precision and Luxshare Communication (Shanghai) [via tomshardware.com]
  • 2025—Wingtech reported a roughly USD 1.3 billion loss amid the Nexperia audit collapse and flagged Shanghai delisting risk [via tomshardware.com]
  • 2024-12-02—Added to the US BIS Entity List [via tomshardware.com]

Milestones and signals

  • 2026-10-04—Market cap: RMB 20.9B
  • FY2025—Revenue: RMB 31.3B
  • FY2025—Net Profit: RMB -8.7B
  • Listing—Shanghai Stock Exchange · 600745 · A-shares

What to watch

  • 2024: GaN FET products won a 2024 industry product award
  • Revenue split between the two reported segments, Product Integration and Semiconductor.
  • ODM customer relationships with Samsung, Xiaomi, and Lenovo.

Questions

Last reviewed 2026-07-01

Answered questions

What are semiconductor revenue, unit volume, and end-market exposure after the control dispute?

On the record: Automotive-qualified discretes, logic, MOSFET, and power devices (AEC-Q100/Q101-class) (Commercial use) at Automotive OEMs and Tier-1s (not named in available sources) for Body control, chassis/safety, ADAS, infotainment/telematics, xEV electrification and Nexperia offers automotive-qualified devices ( (Customer validation) at automotive end markets.

Open questions

  • Does Wingtech still consolidate/control Nexperia operationally and financially?
  • How should Nexperia be attributed when legal ownership, operating control, and geopolitical control diverge?