如果您希望可以时常见面，欢迎标星收藏哦~ 来 源 ：内容来自 荷兰高科技 。 半导体，芯片的基石，无处不在。它们存在于你的麦克风、智能手机、电脑，甚至洗衣机中。它们 让设备更智能、更高效、更可靠。因此，它们在当今几乎所有的社会转型中都发挥着作用：从数字 化到能源转型。全球多达 85% 的芯片都是使用荷兰的半导体设备进行设计、开发和生产的。荷兰 高科技半导体技术创新领域的项目委员会成员阿尔科·克里赫斯曼（Arco Krijgsman）说："从阿斯 麦（ASML）到近场仪器（Nearfield Instruments）等新兴企业，荷兰都是全球领导者。" 半导体技术涉及集成到设备和系统中的芯片和电子元件。半导体的强大之处在于其广泛的应用范 围。在你的汽车中，它们能确保你保持在车道内并与前车保持安全距离。它们在能源转型中也发挥 着关键作用，例如通过有效管理电流。在医疗保健领域，半导体使先进的扫描和人工智能诊断成为 可能，从而检测疾病。芯片还能保障我们的安全；它们是智能摄像头和检测系统的核心。预计今年 全球芯片市场将增长 9.5%。 荷兰的角色 荷兰对半导体有着明确的关注。该技术被列入了《国家技术战略》中。该战略确定了 ...

Core Viewpoint - ASML reported strong Q2 2025 results with revenue and gross margin exceeding market expectations, but concerns remain regarding future orders and guidance adjustments [1][7][9]. Financial Performance - Revenue for Q2 2025 was €7.7 billion, a 23.2% year-over-year increase, surpassing market expectations of €7.5 billion [1]. - Gross margin reached 53.7%, exceeding the company's guidance of 50-52%, driven by an increase in service revenue and lower-than-expected tariff impacts [1]. - Net profit for the quarter was €2.3 billion, a 45% year-over-year increase, resulting in a net profit margin of 30% [1][6]. Business Segments - Lithography system revenue was €5.6 billion, up 17.5% year-over-year, while service revenue was €2.1 billion, up 41.4% [1]. - EUV and ArFi systems accounted for nearly 91% of lithography system revenue, with EUV revenue around €2.5 billion and ArFi revenue approximately €2.3 billion [2][3]. Regional Performance - Taiwan was the largest revenue contributor, accounting for 35% of total revenue, approximately €2.7 billion, followed by mainland China at 27%, contributing around €2.1 billion [4]. Order Metrics - Net order intake rose to €5.54 billion, a 41% quarter-over-quarter increase, indicating a recovery in customer sentiment [4][7]. - The company’s order performance exceeded market expectations, which were set between €4.5 billion and €4.8 billion [7]. Future Guidance - For Q3 2025, ASML expects revenue between €7.4 billion and €7.9 billion, below market expectations of €8.2 billion [5][9]. - The full-year revenue guidance was adjusted to approximately €32.5 billion, reflecting a year-over-year growth of around 15%, indicating potential revenue decline in Q4 [9][10]. Market Concerns - Despite positive quarterly results, market concerns persist regarding tariff uncertainties, budget constraints from major clients like Samsung and Intel, and potential risks in the Chinese market [10][11]. - The overall sentiment suggests that while ASML remains a leader in the EUV market, short-term challenges could impact stock performance [10].

Financial Data and Key Metrics Changes - Revenue for the quarter totaled $167 million, which is above the midpoint of guidance, but down 4% year-over-year and 8% sequentially [5][17] - Non-GAAP operating income was $24 million, and non-GAAP EPS was $0.37, exceeding the high end of guidance [5] - Gross margin was approximately 42%, in line with guidance, while operating expenses were approximately $46 million, below guidance [20][23] Business Line Data and Key Metrics Changes - The Semiconductor business grew 10% sequentially and 3% year-over-year, representing 74% of total revenue [17] - Advanced Packaging saw significant growth, with expectations to double revenue to about $150 million in 2025 [28] - Revenue from the Compound Semiconductor market declined to $14 million, accounting for 9% of total revenue [18] Market Data and Key Metrics Changes - Revenue from China customers was flat in Q1 compared to Q4, increasing their share of total revenue from 39% to 42% [19] - Revenue from the Asia Pacific region (excluding China) increased from 31% to 36%, driven by sales to semiconductor customers in Taiwan [19] - The United States accounted for 15% of revenue, while EMEA contributed 7% [19] Company Strategy and Development Direction - The company aims to capitalize on long-term semiconductor industry growth, focusing on laser annealing and ion beam deposition technologies [10][12] - Strategic wins include being awarded Intel's 2025 EPYC supplier award, which validates the company's position in the semiconductor industry [6] - The company is focused on expanding its served available market (SAM) in laser annealing and advanced packaging due to increasing demand driven by AI and high-performance computing [12][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in long-term strategy despite uncertainties from recently enacted tariffs, which are causing some customers to delay shipments [9][22] - The company anticipates that gate all around and advanced packaging revenue could double in 2025 compared to 2024 [24] - Management noted that while there are headwinds from the mature node business in China, there are still growth opportunities in leading-edge investments [24] Other Important Information - Cash and short-term investments at the end of the quarter were $353 million, an increase from $345 million [21] - The company is monitoring tariff impacts closely and is working with customers to mitigate potential disruptions [22] Q&A Session Summary Question: Could you elaborate on the advanced packaging orders for your lithography tools? - The company announced $35 million in lithography orders, driven by advanced packaging and AI applications, with expectations for significant year-over-year growth in 2025 [28] Question: What is driving the recent strength in the lithography business? - The growth is primarily due to capacity buys from customers, particularly OSATs and IDMs, driven by demand for AI and high bandwidth memory [31] Question: Can you discuss the impact of tariffs on shipments to China? - Some customers are delaying shipments due to tariffs, with an anticipated $15 million impact on Q2 guidance [32][22] Question: What parts of the semiconductor business are expected to grow in 2025? - The company expects growth in advanced packaging and high bandwidth memory, which could offset declines in other areas [36][64] Question: Are there any updates on GaN power applications? - The company is making progress with a customer for GaN power applications, with plans to start pilot production in 2026 [50] Question: What is the outlook for the second half of the year? - The company anticipates that second half revenue could be flattish, with strength in gate all around and advanced packaging potentially offsetting headwinds from China [56]

Financial Data and Key Metrics Changes - Revenue totaled $167 million, above the midpoint of guidance, down 4% year-over-year and 8% sequentially [16] - Non-GAAP operating income was $24 million, and non-GAAP EPS was $0.37, exceeding the high end of guidance [4] - Gross margin was approximately 42%, in line with guidance, while operating expenses were approximately $46 million, below guidance [19] Business Line Data and Key Metrics Changes - The Semiconductor business grew 10% sequentially and 3% year-over-year, representing 74% of total revenue [16] - Advanced Packaging saw significant growth, with expectations to double revenue to about $150 million in 2025 [28] - Compound Semiconductor revenue declined to $14 million, accounting for 9% of total revenue [17] Market Data and Key Metrics Changes - Revenue from China customers was flat in Q1, increasing their share from 39% to 42% of total revenue [18] - Revenue from the Asia Pacific region (excluding China) increased from 31% to 36%, driven by sales to semiconductor customers in Taiwan [18] - The United States accounted for 15% of revenue, while EMEA represented 7% [18] Company Strategy and Development Direction - The company aims to capitalize on long-term semiconductor industry growth, focusing on laser annealing and ion beam deposition technologies [8] - Strategic wins include being awarded Intel's 2025 EPYC supplier award, validating the company's position in the semiconductor industry [5] - The company is expanding its served available market (SAM) in laser annealing and advanced packaging, driven by demand for AI and high-performance computing [12][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in long-term strategy despite uncertainties from recently enacted tariffs affecting customer shipments and costs [7][21] - The company anticipates growth in 2025, particularly in gate all around and advanced packaging, potentially doubling revenue in these areas [23][24] - Management noted that while there are headwinds in the mature node business in China, opportunities exist in GaN power and scientific research areas [24] Other Important Information - Cash and short-term investments at the end of the quarter were $353 million, with cash flow from operations totaling $20 million [20] - The company is monitoring tariff impacts closely and is working with customers to mitigate potential disruptions [21] Q&A Session Summary Question: Could you elaborate on the advanced packaging orders for lithography tools? - The company announced $35 million in lithography orders, driven by advanced packaging and AI applications, expecting significant year-over-year growth in 2025 [28][29] Question: What is the impact of tariffs on shipments to China? - Some customers are delaying shipments due to tariffs, with an anticipated $15 million impact on Q2 guidance [33][34] Question: What parts of the semiconductor business are expected to grow in 2025? - The company expects growth in advanced packaging and high bandwidth memory, potentially offsetting declines in other areas [36][65] Question: Are there any updates on GaN power applications? - The company is making progress with a customer for GaN power, with plans to start pilot production in 2026 [51] Question: What is the outlook for second-half revenue? - The company anticipates second-half revenue to be flattish, with strengths in advanced packaging and gate all around potentially offsetting challenges in China [56][57]