Citrini's Jukan: China's DUV Advances Aren't a Shock; ASML Selloff Looks Overdone

Huo Xing Cai Jing reported that on July 28, Citrini analyst Jukan wrote on social media that headlines about China's progress in DUV lithography are not especially surprising, arguing investors had already priced in some expectations. He said The Information's story largely referenced comments from a professor at a Chinese university made during an internal meeting in June, with little in the way of new, substantive details. Jukan added that the pullback in semiconductor equipment names such as ASML following the report appears to be an overreaction. Earlier, The Information, citing sources, said a Chinese state-backed company has started mass production of domestically developed DUV (deep ultraviolet) lithography tools, a step seen as advancing China's push for greater semiconductor self-reliance. The sources said the company aims to build about five domestic DUV systems in 2026 and increase output to roughly 20 units in 2027. While that remains well below ASML's 131 immersion DUV systems delivered last year, the move into mass production is viewed by the market as a notable milestone for autonomy in China's chip supply chain.