China’s domestic DUV lithography tools threaten ASML sales and Micron’s memory supply outlook

Product / TechCommodity Impact 4
โดย Reuters·Read original
Summary · why it matters

China has started producing domestic immersion deep-ultraviolet lithography tools, with state-backed Shanghai Aishengna Electronic Technology Group planning to deliver machines to Semiconductor Manufacturing International, Hua Hong Semiconductor and memory producer ChangXin Memory Technologies, Reuters reported on July 28. Production is expected to remain small, at roughly five systems in 2026 and about 20 in 2027. The news struck ASML Holding through direct product substitution, as export controls already block its most advanced extreme-ultraviolet systems into China, leaving DUV scanners as the main lithography category available there; ASML said China generated 29 percent, or about 9.5 billion euros, of 2025 net sales, and Reuters Breakingviews noted that this revenue was associated with DUV machines and services. A domestic machine that passes production qualification could replace specific future ASML scanner orders and reduce Chinese fabs' dependence on ASML service, even if those fabs still prefer its performance. Micron Technology is connected through a named competitor and a manufacturing bottleneck, as CXMT, one of the intended tool recipients, competes in DRAM; if locally serviceable immersion DUV equipment eventually lets CXMT qualify and add reliable commodity-memory output despite tighter foreign-tool restrictions, the additional bits could pressure industry pricing and Micron's margins, representing a supply-curve risk rather than evidence that the new tools can already produce competitive high-bandwidth memory for leading AI accelerators.

Impact on stocks 4

Semiconductors▼ · 2 stocks
ASML Holding N.V.
ASML
▼ NegativeCompetitionrelevance

Domestic DUV tools from Shanghai Aishengna could replace future ASML scanner orders and reduce service dependence in China, threatening 29% of ASML's 2025 sales.

Micron Technology Inc
MU
▼ NegativeSupplyrelevance

CXMT, a DRAM competitor, may use domestic DUV tools to add commodity memory output, pressuring industry pricing and Micron's margins.

Others▲ · 2 stocks

Theme Impact 3

Off-coverage companies 2

Shanghai Aishengna Electronic Technology GroupPrivate± Mixed
relevance

长鑫存储技术（ChangXin Memory Technologies / CXMT）Private± Mixed
relevance

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