Reporting by Toby Sterling; Editing by Shri Navaratnam, Shailesh Kuber, Kirsten DonovanHe confirmed that the company was still waiting for approval to ship the order to China, but estimated the financial impact of the delay on the company as “zero”.ASML CEO Peter Wennink on Wednesday confirmed that the company had requested but not received permission to send a machine with “Extreme Ultraviolet”, or EUV, technology to a Chinese customer, understood to be SMIC.ASML has a near-monopoly in making lithography systems, giant 150 million euro machines used to print chip circuitry, but the Dutch government has withheld permission for the company to export one of its most advanced technologies to China.ASML shares, which have more than doubled over the past year as its customers announced plans to invest heavily in new chipmaking capacity, traded 0.5% higher at 272.6 euros at 1311 GMT.“If we cannot ship to customer A or country B, we’ll ship it to customer C and country D,” he said.Reuters reported earlier this month that the delay came after a campaign of pressure from the Trump administration to stop China getting hold of a machine required to make the world’s fastest microprocessors, but which also has military applications.“We need to abide by the law, and if we want to ship a certain technology...we need to go to our government and apply for an export license,” he told Reuters in an interview.Despite problems shipping cutting-edge equipment, ASML regularly sends previous-generation technology to China, where customers such as TSMC, Intel and Samsung have manufacturing facilities.He added that the market for logic chips used in smart phones and 5G telecommunications networks was expected to remain strong, while customers were starting to see the first signs of recovery in the memory chip market.Wennink said that any machines destined for, but not sent to, China would eventually be sold elsewhere as global demand for computer chips grows.Earlier on Wednesday ASML reported fourth quarter net profit of 1.13 billion euros ($1.25 billion), up 43% from the same period of 2018 as sales rose 29% to 4.04 billion euros.ASML forecast sales of 3.1-3.3 billion euros in the first quarter and announced a new 6 billion euro share buyback program through 2022.Chinese customers accounted for 12% of ASML’s total sales in 2019, down from 19% the previous year, with Wennink saying that was due to general weakness in end-market demand for memory chips, rather than restrictions on ASML’s technology. Beijing wants to build a world-class homegrown chip industry to wean itself off foreign imports -- an effort that would need ASML’s one-of-a-kind machines. ASML has been waiting since June 2019 for an export licence to send a next-generation chip maker to China, which uses technology based on extreme ultraviolet (euv) wavelengths. Your financial support has helped us to expand our coverage of the coronavirus crisis into the evenings and weekends and make sure you are kept up to date with the latest developments.We could not provide this service without you. ASML Doesn't Expect Financial Hit From China Export-License Issue. The request is still being dealt with by the foreign affairs ministry. Photo: ASML‘We have made it very clear to the Dutch,’ the paper quotes Pete Hoestra as saying. Mr. Wennink said the license application is currently being reviewed by the Dutch government, which has requested additional … ‘We believe that this is extremely sensitive technology which does not belong in certain places.’ However, behind the scenes, the FD says, the US has been subjecting the Netherlands to ‘heavy political pressure’ to refuse the licence.Many thanks to everyone who has donated to DutchNews.nl in recent days!Sources had told the paper earlier that the US was putting pressure on the Dutch government to refuse an export licence to chip machinery maker ASML.‘We are concerned that the Netherlands is allowing our trading relationship to become politicised,’ Xu Hong is quoted as saying. Yet it has faced difficulty getting the Dutch government to renew a licence to export to China amid ongoing trade tensions. ‘If this continues, it will ultimately have a negative influence on our bilateral relationship.’© 2020 DutchNews | website by VindustriesThe DutchNews.nl team would like to thank all the generous readers who have made a donation in recent weeks. ASML Holding NV (ASML.AE) doesn't expect a financial hit from an issue with a license to export an advanced chip-making system to China, Chief Executive and President Peter Wennink said Wednesday.
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