---
date: 2026-05-23
subject: "Wingtech sues Nexperia BV for 8B yuan | xFusion files Henan ChiNext IPO | CXMT hearing May 27"
---


**Wingtech filed an 8 billion yuan suit** at Dongguan Intermediate People's Court against Nexperia Holding BV, Nexperia BV, ITEC BV and executives Ruben Lichtenberg, Achim Kempe and Stefan Tilger, citing the Anti-Foreign Sanctions Law and characterizing the Dutch ministerial order and Amsterdam Enterprise Court ruling as discriminatory, with the Enterprise Court ruling still restricting Wingtech's control of Nexperia. **xFusion submitted a ChiNext IPO prospectus** at a reported 80 billion yuan valuation under Henan SASAC control after Huawei's full exit, with IDC figures showing its China server share rising from 11.7% in 2022 to 14.2% in 2025, ranking second behind Inspur. **Commerce Minister Wang Wentao met Deputy USTR Schweitzer** on May 21 in Suzhou on the sidelines of the APEC trade ministers' meeting, where both sides directed working-level teams to finalize trade cooperation details following the May 14 Xi-Trump Beijing summit.

# 1. Top Stories

- **Wingtech files 8 billion yuan suit against Nexperia BV, invoking China's Anti-Foreign Sanctions Law against named Dutch executives** — Wingtech and its subsidiary Yucheng Holdings filed suit at Dongguan Intermediate People's Court (case 2026 Yue 19 Min Chu 117), seeking 8 billion yuan against six defendants: Nexperia Holding BV, Nexperia BV, ITEC BV and individuals Ruben Lichtenberg, Achim Kempe and Stefan Tilger. The plaintiffs cite the Anti-Foreign Sanctions Law and characterize the Dutch ministerial order and Amsterdam Enterprise Court ruling as "discriminatory restrictive measures." The Dutch ministerial order is suspended, but the Enterprise Court ruling remains in force and continues to restrict Wingtech's control of Nexperia. The court has accepted the filing. [ITHome](https://www.ithome.com/0/954/289.htm)
- **Henan SASAC-controlled xFusion files ChiNext IPO at reported 80 billion yuan valuation** — xFusion, the former Huawei x86 server business now under provincial state control, had its ChiNext prospectus accepted today at a valuation reported by 36Kr at 80 billion yuan. Registered capital is 880 million yuan, with Henan Chao Juneng Technology as controlling shareholder and the Henan SASAC as ultimate controller; Huawei has fully exited the cap table. Per IDC figures cited in the prospectus, xFusion's China server market share rose from 11.7% in 2022 to 14.2% in 2025, ranking it second behind Inspur. xFusion ranks as the highest-tier partner in the Huawei Ascend ecosystem by shipment value and volume. [36Kr](https://www.36kr.com/p/3820481222004873)
- **Commerce Minister Wang Wentao meets U.S. Deputy USTR Schweitzer in Suzhou, instructs working-level teams to finalize trade follow-ups** — Wang met U.S. Deputy USTR Schweitzer on May 21 on the sidelines of the APEC trade ministers' meeting in Suzhou, MOFCOM said in a May 22 readout relayed by Wallstreetcn. Wang invoked the "constructive and strategically stable" framing for U.S.-China relations established by the May 14 Beijing summit between Xi and Trump. Both sides directed working-level teams to finalize trade cooperation details and prepare next-step communication. The readout cited "generally balanced and positive outcomes" achieved by economic and trade teams to date. [Wallstreetcn](https://wallstreetcn.com/articles/3772953)
- **Caixin previews CXMT and YMTC A-share listings as domestic memory super cycle hits public markets** — Caixin's weekly Data+ early release frames the pending ChangXin Memory Technologies and Yangtze Memory Technologies listings as the test of a domestic memory super cycle. CXMT's STAR Market listing committee hearing is scheduled for May 27, four trading days out, and YMTC has entered CSRC coaching under CITIC Securities. CXMT plans to raise 29.5 billion yuan, which would be a STAR Market historical high. Both issuers have posted strong financials amid AI industry chain enthusiasm. [Caixin](https://database.caixin.com/2026-05-23/102446814.html)
- **China reaffirms pre-2030 crewed lunar landing and slots Chang'e-7 for second-half 2026 south pole survey** — China's manned space program told a Shenzhou-23 press conference at Jiuquan on May 23 that the crewed lunar landing target remains before 2030, Wallstreetcn reported. Chang'e-7 is scheduled to launch in the second half of 2026 to conduct a lunar south pole environment and resource survey. Officials cited a surface tension propellant tank liquid sloshing experiment aboard the recent Tianzhou-10 cargo mission as among the Tiangong-program subsystems validated for crewed lunar landing, alongside the operational astronaut corps and ground infrastructure. Tiangong has been in orbit for nearly four years. [Wallstreetcn](https://wallstreetcn.com/articles/3772965)

# 2. Policy & Regulation

- **National Data Administration names six technology pathways under 'data as a factor of production' framework** — The National Data Administration disclosed that two batches of data infrastructure pilots are now operating along six named technology pathways: privacy computing, blockchain, trusted data spaces, data fields, data networking and data components. Additional pathways added include data fabric, data mesh and ontology engineering. The two pilot batches cumulatively cover 15 industries and 43 cities, coordinating 19,000 ecosystem participants and listing 38,000 data products across more than 270 application scenarios. The announcement was carried by CCTV News and relayed by Yicai. [Yicai](https://www.yicai.com/brief/103197713.html) [state-affiliated]
- **MIIT standards body launches national humanoid robot lifecycle registry covering 28,000 units** — MIIT's Humanoid Robotics and Embodied Intelligence Standardization Technical Committee launched a national humanoid robot lifecycle management platform in Beijing on May 23, ITHome reported citing CCTV News. Each unit receives a unique digital ID spanning research and development, production, market entry, sale, use and end-of-life phases. Current coverage spans more than 100 humanoid robot companies, more than 200 product models and 28,000-plus deployed units. The committee said the registry will track each unit across its full lifecycle. [ITHome](https://www.ithome.com/0/954/264.htm) [govt]
- **USTR Greer says U.S. tariffs on imported semiconductors remain under consideration with reshoring offsets** — U.S. Trade Representative Jamieson Greer told a Micron memory fab expansion event in northern Virginia that tariffs on imported semiconductors remain under consideration, with an offset mechanism that would exempt chipmakers investing in U.S. manufacturing, CnBeta reported in a translation of Bloomberg's coverage. Greer said, "We want to make sure we do this at the right time and at the right level." Greer added the tariffs would not come "tomorrow or next week." The announcement follows the January Commerce Department Section 232 finding. [CnBeta](https://www.cnbeta.com.tw/articles/tech/1563404.htm)
- **Xinhua's China Economic Information Service releases AI research agent for 15th Five-Year Plan industrial chain analysis** — China Economic Information Service released the "Tianyan 15th Five-Year Plan New Industry Research Agent" on May 21, a tool that auto-generates industrial chain analysis reports, InfoQ China reported. The database covers 17,873 key enterprises across six fields: quantum technology, biomanufacturing, hydrogen and nuclear fusion energy, brain-computer interface, embodied intelligence and 6G. The agent is positioned as a deliverable of the CEIS "AI plus Think Tank" initiative. CEIS operates as a Xinhua subsidiary. [InfoQ China](https://www.infoq.cn/article/2Gb32HBQU3CtTGm7oqq3)

# 3. AI & Foundation Models

- **DeepSeek makes 75% V4-Pro API price cut permanent effective June 1** — DeepSeek will permanently reduce V4-Pro API pricing to one-quarter of original list on June 1, 2026 after the May 31 promo expiry, CLS reported. The new rate card runs at 0.025 yuan per million cache-hit input tokens and 3 yuan per million cache-miss input tokens. Output tokens are priced at 6 yuan per million. The permanent rate matches the promotional pricing offered earlier this month. [CLS](https://api3.cls.cn/share/article/2379779?os=web&sv=8.4.6&app=CailianpressWeb)
- **Huawei open-sources Ascend CANN compute architecture at Kunpeng Ascend Developer Conference 2026** — Huawei held the Kunpeng Ascend Developer Conference 2026 at the Zhongguancun International Innovation Center in Beijing on May 22, where it fully open-sourced the CANN compute architecture, CSDN reported. The conference also showcased Ascend super-node architecture innovations and pitched Ascend as the compute fit for agentic AI workloads. CANN sits between Ascend chips and frameworks in the software stack, and the open-source release reduces a known barrier to displacing CUDA in domestic deployments. Huawei laid out usability improvements and developer tooling alongside the open-source move. [CSDN](https://blog.csdn.net/csdnnews/article/details/161338263)

# 5. Robotics & Autonomous Systems

- **VFan Intelligence closes hundreds-of-millions yuan seed round for domestic Nvidia Jetson substitute** — VFan Intelligence (Weifan Zhineng), a Peking University PAICORE Lab spin-out, closed a hundreds-of-millions yuan seed round led by Zhongguancun Capital and Qihang Investment, 36Kr reported. Co-investors include Shanghai Future Industries Fund, Stone Creek Capital, Biwin Storage, Yanchuang Group, Haiyi Investment and Tanyuan Ventures. The company positions itself as a native robot "brain-cum-cerebellum" SoC and explicit substitute for Nvidia Jetson in humanoid robot deployments. Co-founder Yin Jilei brings more than 20 years of semiconductor experience including roles at Witmem, IBM, GlobalFoundries, MediaTek and VIA. [36Kr](https://www.36kr.com/p/3821371042877575)
- **AgiBot releases BFM-2 motion base model with humanoid recovery from supine state** — AgiBot (Zhiyuan) released BFM-2, a second-generation Motion-Between motion base model, on May 23, ITHome reported. The company said the model enables stable motion interpolation from any state, including static, pre-set or random inputs. AgiBot demonstrated a humanoid rising from supine on the floor and self-balancing. The release follows the May 18 Horizon Robotics open-source HoloMotion-1 humanoid control model. [ITHome](https://www.ithome.com/0/954/319.htm)

# 8. Digital Infrastructure

- **Reporter visits find three-carrier token package rollout reaching Shanghai branches unevenly** — STAR Board Daily reporters visited Shanghai carrier branches after the three-carrier AI token package rollout and found only China Telecom selling promo packs at the counter, 36Kr reported. China Telecom's smallest package runs 250,000 tokens for 1 yuan, with the largest at 50 million tokens for 130 yuan promo (200 yuan list), single-purchase, 31-day validity. China Mobile staff said the product is "online only, not offline," while China Unicom branches said it was "not yet launched." All three carriers had announced nationwide token packages by May 17. [36Kr](https://www.36kr.com/p/3820131718402434)
- **Huawei releases full-stack AI DC data infrastructure solution at Paris forum** — Huawei released its full-stack AI DC data infrastructure solution at the 2026 Huawei Innovative Data Infrastructure Forum in Paris on May 21, CSDN reported. The stack spans data, compute, models, agents and security under Huawei Vice President Yuan Yuan's "first half compute, second half data" framing. The forum carried the theme "Data Awakening, Storage Power Leap." Yuan Yuan heads Huawei's Data Storage Product Line. [CSDN](https://blog.csdn.net/csdnnews/article/details/161322057)
- **Lenovo's China infrastructure business posts double-digit growth, pivots to token integration services** — Lenovo's FY2025/26 earnings briefing on May 22 reported double-digit revenue growth in its China infrastructure business, Leiphone reported. Lenovo China President Liu Jun told the briefing that the new fiscal year's strategic focus will be "secure, low-cost, highly accurate token integration services" for the intelligent economy. Lenovo's fiscal year runs April 2025 through March 2026. Liu named four key growth drivers for the business at the briefing. [Leiphone](https://www.leiphone.com/category/industrynews/49jFRz0yTs6zZsaz.html)

# 9. Talent & Capital

- **CATL plans to invest in DeepSeek funding round, capping 10.5 billion yuan AI compute sprint** — CATL plans to participate in DeepSeek's first external funding round, per 36Kr citing The Information's May 22 evening report. The reported plan caps a six-week period in which CATL has deployed 10.5 billion yuan across compute, power, storage and AI. CATL-affiliated capital paid about $942 million (6.4 billion yuan) for 38.1% of U.S.-listed IDC operator VNET (21Vianet) on May 13, and 4.1 billion yuan for 49% of the controlling shareholder of IDC HVDC supplier ZhongHeng Electric on April 9. Earlier exposures include energy LLM startup Damao Tech in July 2024 and a SenseTime AIDC compute coordination platform in October 2024. [36Kr](https://www.36kr.com/p/3821370179834244)
- **Local SOEs scramble into brain-computer interface deals as 2026 sector funding tops 4.5 billion yuan year to date** — 36Kr documents a brain-computer interface funding surge with 24 deals worth more than 4.5 billion yuan year to date in 2026, already above the 2025 full-year total. Fourteen of the 24 deals include direct state-owned enterprise participation, including Shanghai International Group, Suzhou Guofa Venture, Beijing Pharma & Health Fund, Chengdu Tianfu Bio-Industry Investment and Zhuhai Hi-Tech Venture. Nine cities have issued BCI-specific industrial policies in 2026: Beijing, Shanghai, Nanjing, Chengdu, Shenzhen, Tianjin, Hangzhou, Wuhan and Hefei. After BrainCo (Qiangnao Tech) disclosed a 2 billion yuan round in early 2026, more than 25 SOE institutions contacted VBData in a single day seeking entry to subsequent rounds. [36Kr](https://www.36kr.com/p/3821121515982983)