Welcome to our dedicated page for ACM Research SEC filings (Ticker: ACMR), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
ACM Research, Inc. filings document the company’s semiconductor process-equipment business, reported operating results, governance matters, and capital-structure events tied to its U.S.-listed parent company and ACM Research (Shanghai), Inc. Forms 8-K furnish quarterly and annual results releases, preliminary revenue and shipment disclosures, subsidiary public-market announcements, and completed changes in ACM’s ownership interest in ACM Shanghai.
Proxy filings cover annual meeting proposals, including director elections and auditor ratification. The filing record also includes disclosures on ACM Shanghai’s STAR Market listing context, shareholder voting matters, material-event reporting, and related governance and ownership information for the company’s operating structure.
ACM Research, Inc. officer Lisa Feng exercised stock options and sold shares of Class A Common Stock. On March 5 and 6, 2026, she exercised options for a total of 30,000 shares of Class A Common Stock at an exercise price of $4.55 per share through derivative conversions.
Over those two days she sold a total of 30,000 shares of Class A Common Stock in open-market transactions at weighted average prices ranging from $45.51 to $50.54, under a Rule 10b5‑1 trading plan adopted on December 2, 2025. Following these transactions, she directly holds 50,001 shares of Class A Common Stock.
Lisa Yi Lu Feng reported an intended sale of 15,000 common shares of ACMR via stock option exercise on 03/06/2026 through Morgan Stanley Smith Barney LLC. The filing lists proceeds of $691,173.00. The record also shows a sale of 15,000 common shares on 03/05/2026 with proceeds of $750,148.50.
ACM Research, Inc. is a Delaware-based supplier of advanced semiconductor manufacturing equipment that operates mainly through its 74.6%-owned subsidiary ACM Shanghai, which is listed on Shanghai’s STAR Market. The company focuses on wet cleaning, plating, furnace, PECVD, track and advanced packaging tools used in front-end and packaging processes.
In 2025, revenue was driven by single-wafer cleaning, Tahoe and semi‑critical cleaning equipment at $626.0 million, ECP, furnace and other technologies at $199.6 million, and advanced packaging, services and spares at $75.8 million. ACM estimates its current portfolio addresses about $21 billion of the 2025 global wafer fab equipment market, while Gartner pegs the overall market at $123.9 billion in 2025.
The business is heavily concentrated in Asia, particularly mainland China, and faces significant regulatory and geopolitical risk. ACM Shanghai and ACM Korea were added to the BIS Entity List in December 2024, restricting access to items subject to U.S. export controls. The company also highlights exposure to evolving mainland China regulations, potential HFCA Act-related trading prohibitions if PCAOB access changes, and broader U.S.–China trade, outbound investment and data-security regimes that could materially affect operations or even render Class A shares significantly less valuable or worthless.
ACM Research reported record 2025 revenue but weaker profitability. Full-year revenue reached $901.3 million, up 15.2% from 2024, with fourth-quarter revenue of $244.4 million, up 9.4%. Growth was driven by single-wafer cleaning, Tahoe and semi-critical tools, electrochemical plating, furnace technologies, and advanced packaging, services and spares.
Profitability softened as 2025 GAAP gross margin declined to 44.4% from 50.1%, and operating income fell to $109.4 million from $151.0 million. GAAP net income attributable to ACM Research, Inc. dipped to $94.1 million, with diluted EPS of $1.37 versus $1.53 a year earlier. The company ended 2025 with $1.13 billion in cash, restricted cash, and time deposits and net cash of $845.5 million, aided by a private offering at ACM Research (Shanghai), Inc. and a February 2026 sale of about 4.8 million ACM Shanghai shares for roughly $111 million.
Management is maintaining 2026 revenue guidance of $1.08 billion to $1.175 billion, implying 21–30% growth, and highlighted new tool shipments, expanding advanced packaging orders, and ongoing investment in an Oregon facility expected to begin operations in the second half of 2026.
ACM Research CEO David H. Wang reported the vesting of performance-based stock options tied to the company’s market value. On February 4, 2026, 545,400 stock options with a $7.36 exercise price became exercisable, bringing his total outstanding options to 1,636,197 shares of Class A common stock.
The options were originally granted on March 20, 2020 and vest in three tranches when ACM Research’s market capitalization increases by $1 billion, $2 billion, and $3 billion from $553,383,586 at grant. The latest vesting was triggered when market capitalization first reached or exceeded $3,553,383,586. The filing also lists indirect holdings of Class A common stock through family members and family trusts.
Research, Inc., through its controlling subsidiary ACMR US, completed an inquiry-based sale of 4,801,648 shares of Research (Shanghai), Inc. at RMB 160.00 (approximately $23.05) per share to 30 institutional investors.
After this transaction, the aggregate ownership of ACMR US and its concert parties in Shanghai decreased from 74.84% to 73.72%, a 1.00% reduction of Shanghai’s total share capital. Shanghai states there are no undisclosed operational risks or other material matters under applicable STAR Market listing rules, and the change does not alter its controlling shareholder or actual controller.
ACM Research, Inc. reported that shares of its operating subsidiary, Research (Shanghai), Inc. are listed on the Sci-Tech innovation board (the STAR Market) of the Shanghai Stock Exchange. In line with STAR Market rules, the Shanghai subsidiary filed a Record of January 2026 Investor Relations Activity with the exchange.
The Shanghai Stock Exchange posted this investor relations record on January 29, 2026, and ACM Research furnished an unofficial English translation as Exhibit 99.1. The company emphasized that this information is being furnished, not filed, and is not incorporated by reference into its Securities Act filings.