ASML Holding NV does not expect new restrictions on exports to China to affect its earnings this year, the Dutch supplier of equipment to semiconductor manufacturers said in its annual report yesterday.
Curbs imposed by the Dutch government under pressure from the US have restricted the company from selling its most advanced machines to China since 2019.
However, the US has since October last year been pushing the Dutch and Japanese governments to introduce further restrictions on semiconductor equipment exports.
Photo: Reuters
In a foreword to the report, ASML CEO Peter Wennink said the company understood that the three governments late last month reached an agreement, but no details have been disclosed publicly and any new restrictions would take months to be drawn up and enacted.
“We understand that steps have been taken that would cover advanced lithography tools as well as other types of equipment,” he said. “We do not expect these measures to have a material effect on our expectations for 2023.”
Last month, ASML forecast a 25 percent rise in sales for this year with sales to China steady at about 2.2 billion euros (US$2.36 billion), or 14 percent of revenue.
ASML also disclosed in the report that a former employee in China stole data about its proprietary technology, and export controls might have been contravened as a result.
The company said it reported the data breach to authorities and initiated an internal review.
It has also implemented remedial measures after the incident, it said.
It was the second time in as many years that ASML has leveled charges against Chinese entities.
A year ago, ASML accused a Beijing-based firm of potentially stealing its trade secrets.
It was unclear in the latest disclosure if the data stolen could be employed in developing lithography systems, ASML’s specialty.
However, the company said in the annual report that the theft, which it was still investigating, is not material to its business.
Additional reporting by Bloomberg
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