ACM Research, Inc. develops, manufactures and sells wafer and panel processing equipment for semiconductor manufacturing and advanced packaging applications. Company news commonly covers financial results, shipment trends, customer orders, and product introductions across cleaning, electroplating, stress-free polishing, vertical furnace, track, PECVD, and wafer- and panel-level packaging tools.
Recurring updates also include ACM’s ACM Planetary Family product organization, advanced packaging platforms, global customer activity, production-capacity initiatives, and disclosures involving ACM Research (Shanghai), Inc., the company’s principal operating subsidiary listed on the Shanghai Stock Exchange STAR Market.
ACM Research, Inc. (NASDAQ: ACMR) has appointed Armanino LLP as its independent auditor for the fiscal year ending December 31, 2022. This appointment follows ACM's process to ensure compliance with the U.S. Holding Foreign Companies Accountable Act (HFCAA). With Armanino's audit, ACM aims to be removed from the SEC’s HFCAA issuer list, alleviating concerns over potential delisting. Stockholder ratification of this appointment is set for the Annual Meeting on June 30, 2022.
ACM Research reported first-quarter 2022 revenues of $42.2 million, a 3.5% decline from $43.7 million in Q1 2021, attributed primarily to COVID-19 restrictions in Shanghai. Gross margins improved to 46.7%, up from 41.3% year-over-year. However, the company suffered a net loss of $5.8 million compared to a net income of $5.5 million in Q1 2021. Operating expenses surged by 98.6% to $29 million. Despite challenges, ACM expects to maintain revenue guidance of $365 million to $405 million for 2022, bolstered by ongoing demand for its semiconductor tools.
ACM Research, Inc. (NASDAQ: ACMR) announced a significant contract with a leading Chinese OSAT for 10 Ultra ECP ap high-speed plating tools, set for delivery in 2022 and 2023. This order follows previous commitments for 21 ECP tools from a top-tier Chinese foundry, highlighting growing market traction for ACM's ECP technologies. The high-speed plating technology is already qualified by multiple customers, supporting advanced wafer-level packaging applications critical for sectors like 5G and autonomous vehicles.
ACM Research announced preliminary revenue estimates for Q1 2022 between $40 million and $42 million, significantly lower than expected due to operational challenges from COVID-19 lockdowns in Shanghai. The company anticipates some revenue to be deferred to Q2 2022. ACM holds an 82.5% equity interest in its subsidiary, ACM Shanghai, which contributes the majority of its consolidated revenue. The company will provide a full financial update and outlook on its earnings call on May 6, 2022.
ACM Research (NASDAQ: ACMR) announced the successful qualification and mass production of its Ultra C VI tool, a cutting-edge semiconductor cleaning solution with 18 chambers. This tool enhances throughput by 50% compared to its predecessor, accommodating over 800 wafers per hour. With applications in both front-end and back-end processes, it meets the rising demand for semiconductor manufacturing efficiency, particularly amid the push for smaller technology nodes. The Ultra C VI tool was also validated by a major memory chip manufacturer in China.
ACM Research, Inc. (NASDAQ: ACMR) will disclose its preliminary revenue range for Q1 2022 before the U.S. market opens on April 27, 2022. This announcement aligns with the reporting obligations of its subsidiary, ACM Research (Shanghai), to the Shanghai Securities and Exchange Commission. The full financial results will be released on May 6, 2022, followed by a conference call at 8:00 a.m. ET. Investors can access the call via a designated conference ID. This update is part of ACM's commitment to transparency with its financial disclosures.
ACM Research (ACMR) reported that COVID-19 lockdowns in Shanghai are significantly affecting its operations, limiting employee access and logistics. These restrictions have forced a temporary reduction in product shipments and production activities. Despite these challenges, ACM maintains its revenue outlook for 2022, projecting between $365 million and $405 million, assuming no further disruptions. CEO Dr. David Wang noted strong demand for their tools, with expectations of resuming operations soon. ACM plans to release Q1 2022 financial results in early May 2022.
ACM Research (ACMR) comments on the SEC's provisional list under the Holding Foreign Companies Accountable Act (HFCAA). Identified on March 8, 2022, after filing its Annual Report, ACM's listing does not mean imminent delisting. The SEC guidelines state that trading restrictions could only be invoked in 2024 after three consecutive years on the list. ACM is proactively seeking an independent PCAOB-registered auditor to avoid future listings. The company remains confident in meeting SEC requirements and maintaining its NASDAQ status.
ACM Research, Inc. (NASDAQ: ACMR) announced a 3-for-1 stock split of its Class A and Class B common stocks, declaring it as a stock dividend. Shareholders as of March 16, 2022, will receive two additional shares for each share held, with distribution after trading on March 23, 2022. Trading on a split-adjusted basis begins on March 24, 2022. The company's CEO, Dr. David Wang, stated that this initiative aims to enhance stock accessibility for investors and employees, reflecting ACM's confidence in its growth within the semiconductor industry.
ACM Research (NASDAQ: ACMR) announced its participation in the 34th Annual ROTH Conference on March 15, 2022, in Dana Point, California. Management will hold one-on-one and small group meetings with institutional investors during the event.
The company specializes in wafer processing solutions for semiconductor and advanced wafer-level packaging. For registration details or to schedule a meeting, visit the ROTH Conference website.