WINGTECH(SH:600745) Xin Lang Cai Jing·2025-10-16 23:24Core Viewpoint - China has retaliated against the Netherlands by banning ASML Semiconductor from importing chips from China, highlighting the significant production capacity of ASML's factory located in Dongguan, China, which accounts for 80% of its total output [1][3]. Group 1: Company Overview - ASML Semiconductor, while a Dutch company, has its largest chip manufacturing facility in Dongguan, China, which employs 4,000 people and spans over 100,000 square meters [1]. - The Dutch factory contributes only 20% of ASML's chip production capacity, meaning that the ban on imports from China effectively locks down the majority of its operations [3]. Group 2: Market Implications - Without the ability to export chips from its Chinese facility, ASML Semiconductor risks becoming a shell company, unable to fulfill orders for its global clients, including major companies like Apple, Samsung, Bosch, and Denso [3][4]. - The semiconductor technology produced by ASML is not considered advanced, primarily focusing on power semiconductors, which can be replaced by competitors such as Infineon, STMicroelectronics, and Texas Instruments [4][6]. Group 3: Strategic Context - The acquisition of ASML by Wingtech Technology aimed to leverage China's industrial advantages alongside Dutch chip technology, but the recent actions have led to a stalemate where the Netherlands retains ownership while China controls production capacity [4][6]. - The situation reflects a broader geopolitical struggle, with the Netherlands aligning with the U.S. to suppress China's semiconductor industry amid escalating tensions in the U.S.-China chip war [6][8].