On April 22nd, it was reported that in the first quarter of this year, nearly half of ASML's revenue (19 billion euros, accounting for 49%) came from the Chinese mainland market.
Excluding the most advanced Extreme Ultraviolet (EUV) lithography machines, the revenue from mainland China accounted for 91%.
By contrast, in the same period last year, these proportions were only 8% and 17%, respectively. The tougher the restrictions imposed by the U.S. government, the more Chinese companies seem to buy.
ASML expects that sales in China will be affected by export controls by 10% to 15% this year.
Nevertheless, CFO Roger Dassen stated during the earnings call that the demand from Chinese customers will remain strong for the rest of the year.
ASML's Chief Financial Officer Dassen mentioned that Chinese customers account for about 20% of the company's backlog orders. "The demand from China is robust. Its capacity expansion is reasonable and aligns with the global demand in the latter half of this century."
"Currently, there is nothing stopping us from providing services for products already purchased by Chinese customers," said company CEO Peter Wennink.
