Chipmaker ASMI sees more business coming in from China this year

By Dina Kartit

(Reuters) -ASM International sees more business coming from China this year compared with previous years, the Dutch semiconductor equipment maker said on Wednesday.

When asked by analysts about how much growth the company would see in its domestic China business in the current year, Chief Financial Officer Paul Verhagen said: "I think you know we will see probably more business coming in from China compared to, you know, previous years."

Another Dutch semiconductor equipment maker ASML Holding said last week that it expects sales to mainland China to pick up for the remainder of 2023 following a dip in the first quarter.

The Dutch government is planning new restrictions on exports of semiconductor technology to protect national security, joining the U.S. effort to curb chip exports to China.

ASML said last week China sales would increase as Chinese chipmakers buy older tools that do not fall under U.S.-led restrictions that the Dutch government said it would adopt.

ASMI said it has "very little play" for such older products or "mature nodes", for which ASML sees Chinese demand remaining strong despite the restrictions.

"There is very limited exposure for us," Verhagen said. "So you know some of our peers would be benefiting from that, but it's very much less for us."

ASMI reported on Tuesday a drop in first-quarter orders totalling 647.4 million euros ($710.20 million), while revenue beat estimates at 710 million euros.

($1 = 0.9116 euros)

(Reporting by Dina Kartit. Editing by Jane Merriman)