According to the report, a Shanghai-based, state-backed company has successfully started mass-producing homegrown immersion DUV (deep ultraviolet) lithography machines for the first time. The breakthrough arrives just as U.S. Congress advances the MATCH Act — bipartisan legislation aimed at blocking China from buying or servicing these exact DUV machines. Because U.S. and Dutch export controls already banned ASML from selling its cutting-edge EUV (extreme ultraviolet) machines to China, Chinese chipmakers aggressively stockpiled ASML's older immersion DUV tools instead. If Chinese chipmakers can now buy viable DUV tools from domestic suppliers, ASML's largest remaining foothold in the region is fundamentally threatened. Investors are dumping U.S. equipment stocks out of fear that a fully indigenized Chinese chip sector will eventually zero out their Total Addressable Market (TAM) in China.