Home » Business » Chinese Former Employee Steals Trade Secrets from ASML and Works for Huawei: ASML Annual Report Reveals Unauthorized Embezzlement

Chinese Former Employee Steals Trade Secrets from ASML and Works for Huawei: ASML Annual Report Reveals Unauthorized Embezzlement

The Chinese former employee who took trade secrets from ASML in Veldhoven last year worked for the Chinese tech giant Huawei for some time after his departure. Several sources in and around the company reported this to NRC.

ASML already reported what the company called ‘unauthorized embezzlement’ in its 2022 annual report, but omitted that the person involved started working at Huawei. The Veldhoven company made the report at the time because the information that was taken falls under American export control regulations.

Huawei is also on the so-called Entity List of the US government. That is a list of companies that are not allowed by the US to acquire advanced chip technology. For example, the US is trying to halt Chinese technological progress and prevent China from developing an independent chip industry.

The damage from this theft was limited, ASML CEO Peter Wennink told investors in early 2023. He described the stolen information as “one piece of a puzzle that you don’t have the box for.” ASML does not want to confirm where the former employee went after his departure. According to the newspaper ASML has tightened its internal security since this incident.

READ ALSO : ASML, Chinese steals sensitive information about company technology

2023-10-23 11:16:51
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