Draft MATCH Act Would Block ASML’s Immersion DUV Sales to SMIC and Huawei
A draft U.S. MATCH Act would ban ASML from selling or servicing immersion DUV lithography to Chinese firms such as SMIC and Huawei. China accounted for 33% of ASML’s 2025 revenue, a share forecast to drop to 20% this year.
1. Proposed MATCH Act Restrictions
A bipartisan group in the U.S. Congress drafted the MATCH Act to prevent Chinese chipmakers from obtaining equipment they cannot manufacture domestically. The law would bar ASML from exporting or servicing its immersion DUV lithography tools to target firms including SMIC, Hua Hong, Huawei, CXMT and YMTC.
2. Impact on ASML’s China Sales
Under existing Dutch and U.S. rules, ASML cannot ship its most advanced EUV machines to China but continues to sell older DUV systems. China represented 33% of ASML’s sales in 2025, a figure expected to decline to 20% in 2026 if new restrictions pass.
3. Institutional Holding Change
Allspring Global Investments reduced its ASML stake by 12.1%, selling 3,556 shares and retaining a 25,869-share position. This adjustment reflects cautious repositioning ahead of potential export controls affecting ASML’s growth outlook.