Wingtech Technology was established in 2000, when its main business was manufacturing equipment in Australia. In 2015, the backdoor "Zhongyin" joint-stock company was listed, becoming the only listed company in the ODM industry. In 2016, Wingtech Technology changed its name to the annual communication business. In August 2016, it went to real estate to acquire the world-renowned semiconductor company Nexperia in 2019. In 2021, O-Film will be acquired to supply camera module CCM-related assets to specific customers.
Newport has more than 50 years of silicon-based R&D and production experience. In 1982, INMOS (INMOS International Co., Ltd.) established a factory here. INMOS is a British semiconductor company established in 1978. Later, the number changed hands, STMicroelectronics, American International Semiconductor New Energy Corporation and the acquisition company in 2007 and Feiling will realize their integration. In 2017, a new factory foundry fab will be built, aiming at a world-class silicon wafer factory, determined to play 99 companies, supporting local British companies. In 2019, Nexperia in the Netherlands also became the second NWF through investment, and agreed to send instructions to NWF if it appeared in the future.
On the eve of the closing of the deal in July last year, opposition from both the United Kingdom and the United States was quite loud. As early as July 2021, after Tom Tugendhat, chairman of the British Foreign Affairs Select Committee, expressed his clear opposition to this incident, the British government expressed that it would wait and see and it would not be appropriate to intervene for the time being. If necessary, it would act decisively.
However, it was also opposed at the time. From March to June 2021, on the eve of the transaction, British lawmakers cited CFIUS in the United States to veto the acquisition of South Korean stock Magna Semiconductor by Zhilu Capital, and the Italian government used the Golden Power Act to veto many cases. The Chinese company's acquisition of an Italian semiconductor company has come to ask the British government to veto the deal. But the attitude of the British government at the time was not to worry, wait and see, and if it really needed to take action, it would take action. The transaction was later completed successfully.
Now, 10 months have passed. Due to further changes in the international and domestic political and economic situation, the security concerns about the investment and acquisition of Chinese companies have risen. On March 29, the Johnson government, under the opposition of MPs, turned its back on its previous supportive attitude and was forced to Re-investigate the transaction.
According to British law, Kwasi Kwarteng, the British Minister of Business, Energy and Industrial Strategy, now has 75 working days to decide whether to re verse the deal after the investigation is launched.
Now, this is the time to test the British government's attitude towards acquisitions and cooperation between Chinese and British companies. This is not a matter of business computing, but a matter of political computing.
