late at night! Chinese assets exploded collectively! Tech giants soar

late at night! Chinese assets exploded collectively! Tech giants soar.

China’s asset explosion! Tonight, the three major U.S. stock indexes rose collectively, large technology stocks rose collectively, and Apple rose more than 3%.

However, memory chip concept stocks collectively adjusted, with SanDisk falling by more than 11%, Micron Technology falling by more than 7%, Seagate Technology and Western Digital falling by more than 8%, and SK Hynix falling by more than 9%. Chinese concept stocks collectively rose sharply, with the Nasdaq China Golden Dragon Index rising by more than 3%.

Miniso rose nearly 10%, Alibaba and Shell rose more than 7%, SoYoung, Canadian Solar, Xpeng Motors, iQiyi, Bilibili, etc. rose more than 5%, Kingsoft Cloud, TAL, 21Vianet, Pony.ai, Vipshop, etc. rose more than 3%. It is worth noting that on the 15th, Beijing time, ASML’s second-quarter results disclosed exceeded market expectations.

Driven by demand for AI chips, ASML also raised its full-year performance outlook. The company said its customers are continuing to accelerate their capacity expansion plans. Affected by this, ASML once rose by more than 3%, and then the increase fell back. U.S. stocks rise as big data comes out On Wednesday local time, data released by the U.S.

Bureau of Labor Statistics showed that the U.S. producer price index (PPI) in June rose 5.5% year-on-year and fell 0.3% month-on-month. The core PPI, which excludes food and energy prices, rose 4.7% year-on-year and 0.2% month-on-month. The above data were all lower than market expectations.

After the data was released, market expectations for the Federal Reserve to raise interest rates at its July policy meeting further cooled. John Williams, president of the New York Fed and the Fed's No.

3 official, pointed out that inflation may have peaked, and the overall inflation rate will drop to around 3.25% by the end of this year, and then continue to move closer to the 2% target, eventually achieving the target in 2028.

Williams said that the sustained return of inflation to the 2% target is the Fed's top priority, and the current monetary policy stance is well suited to achieve this goal. The three major U.S. stock indexes rose collectively.

As of press time, the Dow Jones Industrial Average rose 0.33%, the Nasdaq Composite Index rose 0.78%, and the S&P 500 Index rose 0.41%. Large technology stocks collectively rose, with Apple rising more than 3%, and Amazon and Microsoft rising more than 2%.

Chinese concept stocks collectively rose sharply, with the Nasdaq China Golden Dragon Index rising by more than 3%, Alibaba rising by more than 7%, and Xpeng Motors and Bilibili rising by more than 5%. Aehr Test Systems (Aehr), a leading supplier of semiconductor device testing and aging solutions, once surged more than 50% during the session.

As of press time, the company's stock price is still up more than 40%. Earlier, the company disclosed its fourth quarter and full-year financial results for fiscal year 2026 as of May 29, 2026.

In the fourth quarter of fiscal year 2026, the company's net revenue was US$18.8 million, compared with US$14.1 million in the same period last year; generally accepted accounting principles (GAAP) net profit was US$1.4 million, turning losses into profits year-on-year.

In the quarter, the company's new orders reached US$60.7 million, a record high in a single quarter. Aehr expects the company's revenue to reach US$130 million to US$150 million in fiscal year 2027, which ends on June 25, 2027, with year-on-year growth of 160% to 200%.

ASML's performance beats expectations Chips have become the absolute protagonist of the capital market in the past year or two, and ASML's performance will largely reflect the overall prosperity of the chip industry.

Because ASML can be regarded as the "whistleblower" of the chip industry's prosperity, equipment orders, performance guidance, and the implementation of new technologies will release key signals of the cycle of the semiconductor industry in advance.

On July 15, the financial report released by ASML, the world's leading lithography machine company, showed that the company's second-quarter revenue was 9.33 billion euros (about 10.9 billion U.S.

dollars), exceeding analysts' expectations of 8.8 billion euros; second-quarter net profit was 2.92 billion euros, higher than market expectations of 2.62 billion euros; the gross profit margin for the quarter was 54%, which was also higher than market expectations of 52%. At the same time, ASML raised its full-year performance guidance.

The company expects net sales in 2026 to be 43 billion to 45 billion euros, compared with the previous forecast of 36 billion to 40 billion euros. The company also raised its gross profit margin guidance from 51% to 53% to 54% to 56%. ASML also announced aggressive capacity expansion plans.

Christophe Fouquet, President and CEO of ASML, said, “Our order volume in the first half of the year was extremely strong. Based on this momentum, we plan to increase our production capacity of approximately 65 low numerical aperture EUV units in 2026 by 30% in 2027; at the same time, we are studying another production capacity in 2028.

The possibility of increasing production capacity by 30%. Similarly, we plan to increase the production capacity of approximately 130 DUV immersion lithography machines in 2026 by 30% and are studying another 30% increase in 2028.

In addition, we are continuing to significantly expand our upgraded product portfolio.” ASML is the only manufacturer in the world that can produce extreme ultraviolet lithography (EUV) equipment, and these precision equipment are necessary for manufacturing Nvidia AI training chips and advanced process chips from giants such as TSMC, Samsung, and Intel.

As technology giants such as Microsoft and Google invest hundreds of billions of dollars in building AI infrastructure, chip manufacturers are competing to expand production capacity, directly driving demand for ASML lithography machines.

Milestones for ASML and Intel On July 15, local time, ASML and Intel jointly announced that Intel has successfully used ASML's high numerical aperture extreme ultraviolet (High NA EUV) lithography system to achieve mass production delivery of some Intel Core Ultra Series 3 (codenamed Panther Lake) processors on its Intel 18A process node, becoming the world's first semiconductor company to achieve high-yield large-scale shipments of High NA EUV logic chips.

The two parties pointed out in a joint statement that some key process layers of Intel 18A have passed High NA EUV dual patterning certification, and the product yield has now stabilized at the same level as the existing NXE EUV platform.

As ASML's most advanced lithography solution, High NA EUV has higher imaging resolution and more stringent pattern fidelity, laying a key foundation for the continuous shrinkage of advanced processes.

Naga Chandrasekaran, executive vice president and general manager of Intel's wafer manufacturing business, said: "This milestone not only confirms the deep mutual trust between Intel and ASML in technology synergy, but also fully demonstrates the feasibility and reliability of large-scale integration of high numerical aperture EUV in a mass production

environment." According to calculations by Huatai Securities, the total capital expenditure of global semiconductor manufacturing companies is expected to reach US$341.7 billion in 2028, an increase of 103.3% from US$168.1 billion in 2025. The structural increase in capital expenditure is accelerating to the equipment side.

It is expected that by 2028, the global front-end equipment (WFE) market will grow simultaneously by approximately 108%, reaching US$241.4 billion. As the core process link of wafer manufacturing, lithography equipment accounts for approximately 25% of the total WFE market.

ASML, relying on its monopoly position in the field of lithography, is expected to be the first to and deeply benefit from this round of long-cycle production expansion. (

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