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ASML expects to continue selling to China despite US export curbs

ASML, a major supplier of equipment to computer chip manufacturers, said on Tuesday it does not expect any short-term financial impact from newly updated guidance on U.S. restrictions on exports to China.

The Netherlands-based company said in a statement it expected the new U.S. guidelines to “have an impact on the regional split of our systems sales in the medium to long term”, meaning it will affect the volume of sales the company has in one country versus another, but not sales overall.

“We do not expect these measures to have a material impact on our financial outlook for 2023” or longer term financial forecasts, it said.

The company added in the statement that it is still studying new guidelines announced by the Biden administration overnight.

“It is our understanding that the new regulations will be applicable to a limited number of fabs (fabrication plants) in China related to advanced semiconductor manufacturing,” the company said.

China is ASML’s third-largest market by sales after Taiwan and South Korea.

Previous rounds of restrictions from the U.S. government have barred the company from selling its most advanced products to customers in China.

It must also seek a license to export more mature products under a regime introduced by the Dutch government earlier this year. Reuters

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