WINGTECH(SH:600745) Guan Cha Zhe Wang·2025-11-14 01:00Core Points - The Dutch government's actions regarding ASML and its semiconductor supply chain have created significant global supply chain risks, with ongoing disputes between the EU and China highlighting the dangers of reliance on a single country for critical technology and materials [1][4][5] - Vincent Karremans, the Dutch Minister of Economic Affairs, remains unapologetic about the government's decisions, asserting that he would act the same way again given the information available [2][4] - The situation has led to a "supply disruption" crisis in the global semiconductor supply chain, with the Dutch government yet to retract its takeover of ASML, despite some easing of tensions between the US and China [7][9] Summary by Sections Government Actions - On September 30, the Dutch government ordered the takeover of ASML's subsidiary, citing "national security" concerns, which was publicly announced on October 12 [4][5] - The US had previously imposed export controls on ASML, which the Dutch government claims did not influence their decision, despite evidence of prior communication between the two governments regarding the matter [5][6] Industry Impact - The actions taken by the Dutch government have led to significant disruptions in the semiconductor supply chain, particularly affecting the automotive industry [1][7] - ASML's parent company, Wintech, has indicated that their planned investment in Germany has been stalled due to the Dutch government's intervention [6] International Relations - The ongoing dispute has strained relations between China and the Netherlands, with China expressing concerns over the impact on the global semiconductor supply chain and urging the Dutch government to take constructive actions [9][10] - Recent discussions between Chinese and German officials have emphasized the need for the Dutch government to correct its course and resolve the situation [10]