ASML Holding(US:ASML) Sou Hu Cai Jing·2025-06-12 09:03Core Viewpoint - The CEO of ASML, Peter Wennink, expressed strong dissatisfaction with the U.S. export restrictions, stating that these measures not only harm ASML's business but also push China to become a leader in lithography technology [1][3]. Group 1: Impact of U.S. Export Restrictions - The U.S. export ban has disrupted decades of established supply chains, particularly affecting sectors like AI that rely on global collaboration [4]. - The restrictions are forcing China to accelerate its technological advancements, which could threaten ASML's market position in the future [4][6]. - Wennink criticized the U.S. policy as foolish, highlighting that it inadvertently provides China with an opportunity to enhance its capabilities [4][8]. Group 2: Financial Implications for ASML - ASML reported a revenue of $32.3 billion last year, but its stock price has dropped by 25% over the past year due to geopolitical tensions and export restrictions [6]. - The potential imposition of tariffs by the U.S. has raised production costs for chip manufacturing, making it less attractive for companies to establish operations in the U.S. [6]. Group 3: ASML's Response and Industry Dynamics - ASML has formed lobbying teams in Washington, Brussels, and The Hague to advocate for the protection of the semiconductor industry and to maintain trade relations with China [6]. - Other industry leaders, such as NVIDIA's CEO Jensen Huang, have echoed similar sentiments, stating that U.S. export controls are fundamentally flawed and could lead to a technological dominance shift towards China [6][8]. Group 4: China's Strategic Approach - In response to U.S. restrictions, China is pursuing a dual strategy of self-research and continued global collaboration in semiconductor technology [8]. - Chinese companies like SMIC and Huawei are investing heavily in lithography technology, showing visible progress despite the challenges [8].