On April 18th, according to the latest financial report, ASML's net sales for the first quarter of this year were 5.29 billion euros (approximately 40.65 billion yuan), down 26.9% compared to the previous quarter. The gross margin was 51.0%, a decrease of 0.4 percentage points from the previous quarter. Net profit was 1.224 billion euros (approximately 9.41 billion yuan), down 40.2% compared to the previous quarter.
During the quarter, ASML sold a total of 70 photolithography machines, including 66 new ones and 4 second-hand ones. Among them, 11 of the latest EUV (Extreme Ultraviolet) photolithography machines were sold. Additionally, new orders amounted to 3.6 billion euros, with 656 million euros coming from the EUV business.
Geographically, mainland China contributed 49% of the sales, an increase of 10 percentage points compared to the previous quarter. EMEA (Europe, Middle East, and Africa) accounted for 20%, South Korea for 19%, and the China Taiwan region decreased to 6%.
Due to export control policies, ASML's advanced lithography machines cannot be sold to the mainland Chinese market. Officials estimate that the impact on 2024 sales in mainland China will be around 10-15%, emphasizing that there have been no further changes to the relevant regulations for the time being.
However, the United States is still exerting further pressure.
Alan Estevez, the Deputy Secretary of Commerce for Industry and Security, previously proposed pushing for a ban on ASML providing maintenance services for lithography equipment already sold to mainland China, especially involving critical components.
ASML's President and CEO, Peter Wennink, responded unequivocally, stating, "Based on our existing conclusions, I don't think there is anything that can stop us from servicing the installed base that we have in China."
He further expressed that these are matters for discussion between the two governments, as they involve so-called national security interests. ASML will provide relevant opinions and ensure they are fully considered.
