ASML Holding(US:ASML) Sou Hu Cai Jing·2025-10-27 01:40Core Viewpoint - The article discusses the critical role of ASML's extreme ultraviolet (EUV) lithography machines in the global semiconductor industry and highlights China's response to technology restrictions by accelerating its own innovation efforts [1][3][9]. Group 1: Technology Restrictions and Responses - The U.S. government pressured the Dutch government to prevent ASML from selling advanced EUV machines to China, leading to increasing sanctions over the years [3]. - By 2024, ASML's CFO indicated that advanced lithography machines for 7nm processes and above were no longer sold to China, with the first second-generation lithography machine sold to Intel in 2025 [3][5]. - ASML's CEO noted that completely excluding China from the technology landscape is impossible due to its vast talent pool [3][9]. Group 2: China's Innovations in Lithography - Despite technology restrictions, China has made significant advancements in lithography technology, with Shanghai Micro Electronics being the only domestic company capable of producing high-end lithography machines [5]. - The Chinese Academy of Sciences announced a breakthrough in all-solid-state deep ultraviolet light source technology, which is smaller and more energy-efficient, theoretically suitable for 3nm chip manufacturing [5]. - Companies like Jingrui Materials and Nanda Optoelectronics have developed photoresists suitable for 7nm processes, demonstrating progress in critical components [5]. Group 3: Market Growth and Future Trends - The demand for lithography machines in China is expected to grow rapidly, with the market projected to exceed 60 billion yuan by 2025 and an annual compound growth rate of over 30% [7]. - The competition in the lithography sector between China and the U.S. will focus on domestic substitution and achieving breakthroughs in advanced processes [7]. - China's initiatives, including the "Belt and Road" strategy, may help establish a more independent semiconductor ecosystem by promoting mid-to-low-end production capabilities [7].