ASML二季度净利润23亿欧元 预计中国市场营收占比超25%

Core Insights - ASML reported a net sales of €7.7 billion for Q2 2025, a year-on-year increase of 23.2%, with a gross margin of 53.7% and a net profit of €2.3 billion, up 45.2% year-on-year [1] - The company received new orders totaling €5.5 billion, including €2.3 billion in extreme ultraviolet (EUV) lithography machine orders, indicating strong demand for EUV technology [1] - ASML's CEO highlighted that revenue from the Chinese market is expected to exceed 25%, aligning with the company's backlog of unfulfilled orders [1] Financial Performance - The Q2 net sales of €7.7 billion were at the high end of the previously forecasted range, driven by growth in upgrade services within the installed base and lower-than-expected negative impacts from tariffs [1] - For Q3 2025, ASML anticipates net sales between €7.4 billion and €7.9 billion, with a gross margin between 50% and 52% [1] - The company projects a 15% growth in net sales for the full year 2025, with an expected gross margin of around 52% [1] Business Segments - The EUV business is expected to grow approximately 30% year-on-year, while DUV and application businesses are projected to remain stable compared to 2024 [2] - The installed base service business is anticipated to grow about 20%, continuing the significant growth seen in the first half of the year [2] - However, a slight decline in gross margin is expected in the second half of the year due to reduced upgrade business for the NXE:3800 system and the absence of one-time gains seen in the first half [2] Market Outlook - ASML's management expresses caution regarding the outlook for 2026 due to uncertainties in macroeconomic conditions and geopolitical factors, particularly concerning tariff policies [2] - The company is actively working to mitigate the impact of tariffs on its operations, focusing on four categories of tariff impacts [3] - Despite uncertainties for 2026, ASML remains confident in the long-term growth of the semiconductor market, driven by AI demand, with expectations of total revenue reaching between €44 billion and €60 billion by 2030, and gross margins of 56% to 60% [3]