{ "docId": "019dd923-622c-750b-8b9a-0f4bec37392f", "docSlug": "f982379e2e48", "documentTitle": "Lasertec Corporation (6920)", "authorId": "58_Scorpion_Capital", "authorName": "Scorpion Capital", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2024-06-05 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 111, "pageCount": 334, "prevPage": 110, "nextPage": 112, "slideType": "quote_slide", "function": "expose_contradiction", "density": "dense", "nDataPoints": 0, "notes": "The slide uses Q&A format to frame expert testimony as a critique of competitors (Ushio/Isteq) versus ASML/KLA.", "elementsJson": [ "paragraph", "quote_block", "footnote" ], "metadataConfidence": 0.95, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-0f4bec37392f/111", "deckHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f#slide-111", "components": [ { "bbox": null, "kind": "callout", "text": "The expert elaborated that the EUV source “is terrible” and “creates a mess” given its use of discharge electrodes - similar to car spark plugs - and propellors splashing in molten tin, in contrast to ASML’s superior laser-based solution as well as the xenon-based source KLA is developing.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-78b6-764f-bc7f-c7a74815b396", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.18, "w": 0.86, "x": 0.07, "y": 0.72 }, "kind": "quote", "text": "It's not just particles, there is another aspect coming from the source in terms of contamination, you need to remember two things: One is particles. Two is VOC, volatile organic compounds, basically, off-gassing. Off-gassing is like, let's say, a particle machine has oil and you heat it up, it will propagate and release gases - alcohol or oil - as VOC's, especially with a reaction with EUV light, which coats the optics and produces damage to the optical surfaces. When you deal with deep UVs, we learned this, and EUV is ten-fold harder. They have two problems: one, the particles propagate and eventually find themselves on the mask and you find these specks. And second, they propagate in the system and they coat all the optics, including the image in the pristine optics.", "attrs": null, "subkind": "pull-quote", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "1aa8c01d-51ed-44e1-8706-0cba4d40abef", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.86, "x": 0.07, "y": 0.41 }, "kind": "quote", "text": "The KLA Xenon works. The Ushio tin source failed. ASML is different. They're using tin and they're using IR laser to ignite it. That's ASML. The KLA technology is published, It uses a frozen Xenon gas with IR laser as the originator. Ushio uses molten tin like ASML, but instead of using IR, they're using discharge electrodes, which is terrible. And the concept of maintaining two propellers creates a mess.", "attrs": null, "subkind": "pull-quote", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "30bb6abd-a799-44b7-b71c-b884e6f01779", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.86, "x": 0.07, "y": 0.58 }, "kind": "quote", "text": "Correct...I think that Isteq source will not be done in a professional way and it cannot work. You need to understand Isteq was done for research. Research is done in bursts, not continuously. For inspection, you need something to work 24/7, and that's it. And it's really hard. It's totally different.", "attrs": null, "subkind": "pull-quote", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "bf0c5cb1-6212-481f-aeae-0306973d55bf", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "“The KLA Xenon works. The Ushio tin source failed. ASML is different. They're using tin and they're using IR laser to ignite it. That's ASML. The KLA technology is published, It uses a frozen Xenon gas with IR laser as the originator. Ushio uses molten tin like ASML, but instead of using IR, they're using discharge electrodes, which is terrible. And the concept of maintaining two propellers creates a mess.” — Former KLA executive in a leadership role in their EUV mask inspection group", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-78b6-764f-bc7f-c9fd2f888523", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.3, "x": 0.07, "y": 0.95 }, "kind": "source-note", "text": "Source: Scorpion Capital consultation calls with experts", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "8a80f90f-09b3-407e-853b-0984c60e4019", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.86, "x": 0.07, "y": 0.07 }, "kind": "title", "text": "The expert elaborated that the EUV source “is terrible” and “creates a mess”", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "c6d4cb40-4e24-49d1-bb90-2de45cd3e2ca", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }