📰 BloombergBloombergQwen · 实盘不做把握 2/10不做原因:不是事件
北京时间·🕒 发布 07:00:00决策时所见发布时间偏差 −8h(已更正)·⟳ 抓取 07:17:59 +17m59s·⚡ 决策 09-03 07:19:13 +1m14s·54.8 天前
蔡司半导体部门负责人称中国开发EUV光刻机大约需要15年
这是蔡司高管在Bloomberg TV上的行业评论，内容与同周UBS研报及市场长期共识一致，不构成新增实质性事件。没有新的政策变化、订单、产品发布或盈利影响，无法为任何标的产生可交易的预期差。
📄 原文Bloomberg↗ 原文
China is about a decade and a half behind in developing cutting-edge chipmaking tools, according to a top executive at…
不做 ASML Holding（ASML.US）
蔡司高管评论是对已知行业共识（中国EUV差距10-15年）的再次表述，与同周UBS研报一致，不构成新增催化。ASML的技术护城河已被市场充分认知和定价，无预期差可交易。
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研究档案
结论摘要
蔡司半导体负责人在Bloomberg TV表示中国开发EUV光刻机约需15年，该观点与同周UBS分析师报告及行业长期共识完全一致。事件本质是高管评论而非新增事实：无新政策、无新订单、无产品突破、无盈利变化。对ASML而言护城河确认早已定价；对中国半导体设备公司而言不改变业务轨迹。不存在可交易的预期差。
🔎 新鲜度:最早出现 2026-09-02 · 扩散 medium · price-in 风险 high ↗
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- search_processed_events 成功 stock_tools HTTP · 451 ms
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原文全文
展开原文 · 2,779 字
China is about a decade and a half behind in developing cutting-edge chipmaking tools, according to a top executive at Germany’s Zeiss Group, a key supplier in the global semiconductor industry.
It’s a “reasonable assumption” that Beijing will need 15 years to develop extreme ultraviolet, or EUV, lithography machines, Frank Rohmund, who leads the semiconductor division at Zeiss, said on Bloomberg TV, while noting that the country’s progress is hard to quantify.
Chipmaking technology is a key target of US efforts to prevent China from acquiring top-flight artificial intelligence chips as the two biggest economies compete to develop cutting-edge models. The US bars Zeiss shareholder ASML Holding NV from shipping its most advanced machines to the country, while Beijing is pouring money into its domestic semiconductor sector in a bid for self-sufficiency.
Zeiss is the exclusive supplier of optics used in ASML’s EUV machines, and the Dutch company is the world’s only manufacturer of such equipment. EUV technology is essential for producing the most advanced chips used in Nvidia Corp.’s artificial intelligence accelerators.
Rohmund’s estimate comes after UBS analysts led by Francois-Xavier Bouvignies wrote this week that China is likely at least a decade away from developing domestic EUV technology.
Read More: China May Not Match ASML’s Top Tool in Next Decade, UBS Says
China is one of ASML’s top markets for the previous generation of chipmaking machines that use deep ultraviolet, or DUV, technology. The US also requires export licenses for several of the Dutch company’s more sophisticated immersion DUV models.
Any plan to expand export controls to include legacy DUV machines would be bad for business, according to Rohmund. “We don’t believe in the positive impact of these export restrictions because it accelerates innovation in China,” he said.
China has made strides in producing immersion DUV lithography tools. A Shanghai-based company is making such equipment, the Information reported in July, citing unidentified people familiar with the matter.
Beijing has been working on such technology for decades, according to Rohmund. “It doesn’t really come as a surprise and now we need to see how capable these tools really are,” he said of reports of recent advances.
“We are still way ahead,” he added.
Zeiss says its components are used to produce around 80% of the world’s chips. ASML bought a minority stake in the Oberkochen, Germany-based company’s semiconductor division in 2017 for €1 billion ($1.2 billion).
Read more: ASML Supplier Zeiss Says It Can Handle Demand for Key AI Parts
To accommodate AI-driven demand, Zeiss has expanded its Oberkochen headquarters to add production. It’s also constructing a factory on another site.
It’s a “reasonable assumption” that Beijing will need 15 years to develop extreme ultraviolet, or EUV, lithography machines, Frank Rohmund, who leads the semiconductor division at Zeiss, said on Bloomberg TV, while noting that the country’s progress is hard to quantify.
Chipmaking technology is a key target of US efforts to prevent China from acquiring top-flight artificial intelligence chips as the two biggest economies compete to develop cutting-edge models. The US bars Zeiss shareholder ASML Holding NV from shipping its most advanced machines to the country, while Beijing is pouring money into its domestic semiconductor sector in a bid for self-sufficiency.
Zeiss is the exclusive supplier of optics used in ASML’s EUV machines, and the Dutch company is the world’s only manufacturer of such equipment. EUV technology is essential for producing the most advanced chips used in Nvidia Corp.’s artificial intelligence accelerators.
Rohmund’s estimate comes after UBS analysts led by Francois-Xavier Bouvignies wrote this week that China is likely at least a decade away from developing domestic EUV technology.
Read More: China May Not Match ASML’s Top Tool in Next Decade, UBS Says
China is one of ASML’s top markets for the previous generation of chipmaking machines that use deep ultraviolet, or DUV, technology. The US also requires export licenses for several of the Dutch company’s more sophisticated immersion DUV models.
Any plan to expand export controls to include legacy DUV machines would be bad for business, according to Rohmund. “We don’t believe in the positive impact of these export restrictions because it accelerates innovation in China,” he said.
China has made strides in producing immersion DUV lithography tools. A Shanghai-based company is making such equipment, the Information reported in July, citing unidentified people familiar with the matter.
Beijing has been working on such technology for decades, according to Rohmund. “It doesn’t really come as a surprise and now we need to see how capable these tools really are,” he said of reports of recent advances.
“We are still way ahead,” he added.
Zeiss says its components are used to produce around 80% of the world’s chips. ASML bought a minority stake in the Oberkochen, Germany-based company’s semiconductor division in 2017 for €1 billion ($1.2 billion).
Read more: ASML Supplier Zeiss Says It Can Handle Demand for Key AI Parts
To accommodate AI-driven demand, Zeiss has expanded its Oberkochen headquarters to add production. It’s also constructing a factory on another site.
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