Friends, today we won't talk about the market; instead, let's discuss a more interesting phenomenon: how will capital choose when rules are torn apart by politics?
Recently, a piece of news made me hit my thigh: China's 'Oriental Precision' suddenly announced it would sell its European assets for nearly 6.4 billion yuan in cash and immediately invest the money into domestic high-end engine research and development.
This operation was as smooth as accurately escaping the peak in a bear market.
1. The 'chip snatching farce' in the Netherlands has become a wake-up call for Chinese enterprises.
Do you remember last year when the Dutch government forcibly took over the Dutch headquarters of ASML under the guise of 'national security'?
At that time, many people gasped, thinking the era of the West 'flipping the table' had arrived.
But what was the result? The Dutch grabbed a lonely victory; the real production line and 70% of testing capacity had already quietly moved to Dongguan and Suzhou in China.
Even more shocking is that China responded with a wave of export restrictions, leaving European car manufacturers completely stunned.
BMW factory shutdown, Volkswagen production line silent, the German Automobile Association angrily stormed into the Dutch parliament and slammed the table.
Only then did they realize: chips are not made by lithography machines, but are tested piece by piece on the assembly line.
And this assembly line is long gone from the Netherlands.
Second, the 'European exodus' of Chinese enterprises: it's not a retreat, it's a strategic shift.
Dongfang Precision's operation appears to be 'management radius too long', but in fact, it is a precise risk clearing.
Bosses calculate faster than the retail investors can place orders:
Can Europe today seize chips under 'national security', and tomorrow seize my production line?
Contracts are not as good as a piece of government order, and patents are not as resilient as Cold War legislation, so what else should I keep?
Thus, 6.4 billion yuan in cash was safely pocketed, and they quickly invested in the research and development of domestic outboard motors in a market monopolized by Japan for 20 years.
Stock prices surged 90% in a single day, and the market votes with its feet: 'No matter how good overseas assets are, domestic technology is more reliable.'
This is no longer an isolated case.
Ningbo enterprises sell European subsidiaries for 1 euro, lithium battery giants suspend factory construction in Germany...
It seems like a loss, but in fact, it is a short-term stop-loss for a long-term survival.
When certainty disappears, holding cash and waiting is the ultimate wisdom.
Three, the butterfly effect of the industrial chain: who is really in pain?
The Netherlands thought it had the lithography machine by the throat, but forgot that the last mile of the chip industry is in Chinese workshops.
A Bosch manager in Germany complained: 'In the past, we thought chips were like soda in a supermarket, just grab them. Now? We have to beg Chinese packaging factories for capacity.'
Volkswagen is worse off; due to chip shortages, they had to redesign, and the range of new cars was directly reduced by 15%.
The cost of political shows is ultimately borne by consumers and workers.
And what about China?
While watching the European industrial chain in chaos, quietly expanding semiconductor testing capacity.
In the fourth quarter of 2025, Chinese investment in Europe plummeted by 63%, while domestic testing capacity surged by 47%.
What does it mean to 'quietly supplement the chain'? This is it.
Four, the enlightenment for ordinary people: in turbulent times, grasp 'certainty'.
As an analyst, I am often asked: 'How to invest in the future?'
In fact, the answer is hidden in history: when the rules start to play randomly, stay away from the table, or change to another table.
This wave of operations by Chinese companies has already demonstrated:
Technological independence is the real hard currency; the Netherlands seizes blueprints, and China seizes production capacity.
Cash flow is superior to all assets; with 6.4 billion cash on hand, new battlefields can be opened at any time.
Risk control surpassing growth fantasies means that Europe's 'quality assets' could turn into political chips overnight.
The last sentence is a harsh truth.
There are no permanent supply chains in this world, only permanent calculations of interests.
When 'national security' becomes a universal wrench, it's not screws that are loosened, but people's hearts.
Capital never sleeps, but it holds grudges.
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