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Chinese chipmaking stocks soared as reports of domestic advancements in extreme ultraviolet (EUV) lithography technology emerged, signaling potential independence from U.S. sanctions.
Semiconductor Manufacturing International Corp (HK:0981), China’s largest chipmaker, rose 7.4% in Hong Kong trading, while Sunny Optical Technology Group Co Ltd (HK:2382) gained 5.4%. Hua Hong Semiconductor Ltd (HK:1347) added 3.4%. Shanghai-listed Will Semiconductor Co Ltd (SS:603501) and Shenzhen-listed NAURA Technology Group Co Ltd (SZ:002371) saw gains of up to 2%.
Local media revealed that scientists from the Harbin Institute of Technology developed a compact, stable EUV light source, enabling the production of advanced sub-7nm chips. This breakthrough could allow Chinese chipmakers to bypass reliance on Dutch EUV equipment manufacturer ASML Holding NV (AS:ASML), which is prohibited from selling such technology to China under U.S. sanctions.
The latest sanctions, aimed at slowing China’s progress in artificial intelligence (AI), have restricted local access to advanced chipmaking tools. However, China's progress in EUV technology boosts the potential for domestic chipmakers to produce cutting-edge AI chips without U.S. technology, mitigating the impact of these restrictions.
Additionally, Beijing’s push to incentivize local chip production is expected to further drive demand in the domestic semiconductor industry, providing a cushion against geopolitical pressures. These developments come amid heightened tensions as global leaders continue adopting hawkish stances against China’s technological advancements.
China’s advancements in EUV technology represent a significant step forward in its ambition to achieve self-reliance in semiconductor manufacturing and maintain a competitive edge in the AI sector.
