エドガーで原本を確認する
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Delaware
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001-38273
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94-3290283
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(State or Other Jurisdiction of Incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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42307 Osgood Road, Suite I
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Fremont, California
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94539
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(Address of Principal Executive Offices)
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(Zip Code)
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Title of each class
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Trading symbol
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Name of each exchange on which registered
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Class A Common Stock, par value $0.0001 per share
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ACMR
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The Nasdaq Stock Market LLC
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| Item 8.01 |
Other Events.
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| Item 9.01 |
Financial Statements and Exhibits.
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(d)
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Exhibits.
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Exhibit
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Description
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Record of August 2025 Investor Relations Activity filed by ACM Research (Shanghai), Inc. with the Shanghai Stock Exchange on August 15, 2025
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104
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Cover Page Interactive Data File (embedded within the XBRL document)
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ACM RESEARCH, INC.
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By:
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/s/ Mark McKechnie
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Mark McKechnie
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Chief Financial Officer and Treasurer | ||
| Dated: August 21, 2025 |
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Stock Code: 688082
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Short Name: ACMSH
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Type of investor
relation activities
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☐ Targeted investor research |
☐ Analyst meeting | ||
| ☐ Media interview | ✓ Earnings Call | |||
| ☐ Press conference | ☐ Roadshow | |||
| ☐ On-site visit |
☐ Others |
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Date
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August 12, 2025
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Venue
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Conference call
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Representatives of the
listed company
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Chairman: HUI WANG
General Manager: JIAN WANG
Chief Financial Officer: LISA YI LU FENG
Board Secretary: MINGZHU LUO
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Summary of investor
relation activities
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I. Company Introduction: Leaders of the
ACM Research (Shanghai), Inc. (the “Company”) briefly described the performance and financial conditions of the Company for the first half of 2025 and answered questions of concern by investors.
II. Q&A
1. The Company has set a long-term target of USD 1.5 billion in overseas revenue. How long will it take to achieve this goal?
A: This overseas revenue target is positioned as a medium- to long-term goal. We place great importance on developing overseas markets and remain committed to
our strategy of differentiated technologies and serving worldwide customers. We are confident in our ability to bring independently developed products to markets across mainland China, Taiwan region, South Korea, the United States, and
Europe, and to steadily increase our share of overseas sales, because we believe customers everywhere seek the best technologies.
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2. The Company has significantly increased its long-term sales target, raising its estimate of the SAM in China from USD 5.0 billion to USD
7.0 billion. What are the reasons behind this increase?
A: We raised our SAM estimate in China to USD 7.0 billion primarily due to updated projections from a third-party market research firm, combined with our own
assessment of China’s semiconductor industry trends. In particular, we increased our estimate of the long-term size of China’s semiconductor equipment market by 2030 from USD 30.0 billion to USD 40.0 billion. Based on this benchmark, we set
our sales target in line with our estimated anticipated market share across multiple equipment categories, including cleaning, copper plating, vertical furnace, plasma-enhanced chemical vapor deposition (PECVD), coating and Track systems.
3. The Company achieved nearly 40% sequential revenue growth in Q2. What were the reasons for revenue performance exceeding expectations?
A: Our strong Q2 revenue performance was primarily driven by two factors. First, equipment sales continued to increase, led by cleaning equipment, with
electroplating equipment also showing significant year-over-year growth. Second, customer demand was robust across both logic and memory segments, which together supported stable and stronger-than-expected revenue growth.
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4. Will the Company revise its full year revenue guidance?
A: At present, we are maintaining our full year revenue guidance. Any revisions, if necessary, will be based on our overall business performance and order trends
in the second half of the year. We remain committed to fulfilling our disclosure obligations in a timely and transparent manner, and any updates will be provided through official disclosure announcements.
5. What is the Company’s basis for accounting for contract liabilities? Are products classified as contract liabilities after shipment?
A: The Company generally recognizes revenue only after a product has been commissioned, inspected, and accepted. If a product has been shipped but revenue has
not yet been recognized, it is recorded as delivered goods. Contract liabilities primarily reflect customer prepayments, including those made after shipment, with amounts varying depending on the specific prepayment terms agreed upon with
both new and existing customers.
6. Why are there great differences in the quarterly financial reports between ACM Shanghai and its controlling shareholder ACMR for two
consecutive quarters, a situation not typically seen in past years?
A: The differences primarily reflect the use of different accounting standards. ACM Shanghai recognizes revenue upon customer testing and acceptance — generally
after equipment has been delivered, commissioned, inspected, and formally accepted. ACMR, which reports under U.S. GAAP, recognizes revenue from initial equipment orders only after testing, inspection, and acceptance, but recognizes revenue
from repeat equipment orders upon shipment.
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7. The Company is fully booked with orders for Q3 and expects to be fully booked for Q4 as well. What is the current production capacity at
the Lingang facility, and do you plan to increase it?
A: We currently operate two factory buildings at Lingang. Factory A is already in production, with a full capacity of RMB 10.0 billion, which is sufficient to
support our full-year revenue guidance range of RMB 6.5 billion to RMB 7.1 billion. Factory B is scheduled to begin fit-out next year and is expected to commence production in the second half of the year once construction is completed. When
fully operational, Factory B will provide an additional annual capacity of RMB 20.0 billion.
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