ASML Holding(US:ASML) 第一财经·2025-10-15 05:53Core Viewpoint - ASML's Q3 2025 financial results indicate strong growth, with a projected annual sales increase of approximately 15% and a stable gross margin around 52% [3][4]. Financial Performance - In Q3 2025, ASML achieved net sales of €7.5 billion, a gross margin of 51.6%, and a net profit of €2.1 billion [3]. - The company anticipates Q4 2025 net sales to range between €9.2 billion and €9.8 billion, with a gross margin between 51% and 53% [3]. - R&D expenses are expected to be around €1.2 billion, while sales and administrative expenses are projected at €320 million [3]. Market Outlook - ASML expects a decline in net sales in the Chinese market for 2026 compared to the high baseline levels of 2024 and 2025 [3]. - The company projects that net sales for 2026 will not be lower than those in 2025, with more details to be provided in January [3]. Technological Developments - ASML is integrating artificial intelligence into its lithography solutions through a partnership with Mistral AI, aiming to enhance system performance and production efficiency [4]. - The company noted a positive trend in AI-related investments, expanding to more clients in advanced logic chips and DRAM sectors [4]. - The share of lithography in overall wafer fab investments is increasing, highlighted by the introduction of the TWINSCAN XT:260, which reportedly improves production efficiency by up to four times compared to existing solutions [4].