ACM Research’s Operating Subsidiary ACM Research (Shanghai) Provides Preliminary Financial Results for Fiscal Year 2022
30 January 2023 - 11:00PM
ACM Research, Inc. (ACM) (NASDAQ: ACMR), a leading supplier of
wafer processing solutions for semiconductor and advanced
wafer-level packaging applications, today announced that its
operating subsidiary ACM Research (Shanghai), Inc. (“ACM Shanghai”)
posted preliminary unaudited financial results for the year ended
December 31, 2022 on the Shanghai Stock Exchange website [link to
China Disclosure].
ACM Shanghai Preliminary Results
ACM Shanghai’s preliminary revenue, net profit, and total
shipments for 2022 are as follows. All figures are determined in
accordance with the Accounting Standards for Business Enterprises
under Chinese generally accepted accounting principles (“Chinese
GAAP”).
- Revenue for ACM Shanghai is
expected to be in a range of RMB 2.70 billion to RMB 2.90 billion
versus revenue of RMB 1.62 billion in 2021.
- Net profit attributable to the
shareholders of ACM Shanghai is expected to be in a range of RMB
600.0 million to RMB 720.0 million versus net profit of RMB 266.2
million in 2021. Net profit excluding certain non-operating items
attributable to the shareholders of ACM Shanghai is expected to be
in a range of RMB 620.0 million to RMB 740.0 million versus RMB
194.7 million in 2021.
- Total shipments are expected to be
in a range of RMB 3.88 billion to RMB 3.96 billion versus total
shipments of RMB 2.41 billion in 2021.
Actual 2022 results of ACM Shanghai are subject to the
completion of ACM Shanghai’s quarter end closing procedures.
ACM currently owns an 82.5% equity interest in ACM Shanghai, and
a substantial majority of ACM’s consolidated revenue and net profit
is contributed by ACM Shanghai. The stand-alone financial results
of ACM Shanghai are reported in RMB as prepared in accordance with
Chinese GAAP, and those results will differ, potentially
materially, from ACM’s consolidated revenue and net profit for the
period, which will reflect additional financial and operational
items and will be prepared in U.S. dollars in accordance with U.S.
generally accepted accounting principles.
Reporting Dates
ACM and its operating subsidiary ACM Shanghai both plan to
release financial results for the fourth quarter and fiscal year
2022 on Friday, February 24, 2023. ACM plans to release its results
before the U.S. market open, and ACM Shanghai plans to release its
results after the market close in China.
ACM plans to conduct a corresponding conference call at 8:00
a.m. U.S. Eastern Time (9:00 p.m. China Time) to discuss the
results. Details of the conference call will be released at a later
date.
About ACM Research, Inc.
ACM develops, manufactures and sells semiconductor process
equipment for single-wafer or batch wet cleaning, electroplating,
stress-free polishing and thermal processes, which are critical to
advanced semiconductor device manufacturing and wafer-level
packaging. ACM is committed to delivering customized, high
performance, cost-effective process solutions that semiconductor
manufacturers can use in numerous manufacturing steps to improve
productivity and product yield. For more information, visit
www.acmrcsh.com.
Forward-Looking Statements
Information presented in this press release includes
forward-looking statements for purposes of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
All statements contained in this press release that do not relate
to matters of historical fact should be considered forward-looking
statements. The preliminary financial results included in this
press release are unaudited and remain subject to review and
adjustment. Forward-looking statements are based on ACM
management’s current expectations and beliefs, and involve a number
of risks and uncertainties that are difficult to predict and that
could cause actual results to differ materially from those stated
or implied by the forward-looking statements. Those risks and
uncertainties include, but are not limited to, the following, any
of which could be exacerbated even further by the continuing
COVID-19 outbreak in China and globally: anticipated customer
orders or identified market opportunities may not grow or develop
as anticipated; customer orders already received may be postponed
or canceled; ACM may be unable to obtain the qualification and
acceptance of its delivered tools when anticipated or at all, which
would delay or preclude ACM’s recognition of revenue from the sale
of those tools; suppliers may not be able to meet ACM’s demands on
a timely basis; ACM’s technologies and tools may not gain market
acceptance; ACM may be unable to compete effectively by, among
other things, enhancing its existing tools, adding additional
production capacity and engaging additional major customers; ACM
may incur significant expenses long before it can recognize revenue
from new products, if at all, due to the costs and length of
research, development, manufacturing and customer evaluation
process cycles; volatile global economic, market, industry and
other conditions could result in sharply lower demand for products
containing semiconductors and for ACM’s products and in disruption
of capital and credit markets; ACM’s failure to successfully manage
its operations, including its inability to hire, train, integrate
and manage additional qualified engineers for research and
development activities; and trade regulations, including those
recently published by the U.S. Department of Commerce imposing
certain restrictions on equipment shipments and business practices
with China-based semiconductor manufacturers, currency
fluctuations, political instability and war, all of which may
materially and adversely affect ACM due to its substantial non-U.S.
customer and supplier base and its substantial non-U.S.
manufacturing operations. A further description of these risks,
uncertainties and other matters can be found in filings ACM makes
with the U.S. Securities and Exchange Commission. Because
forward-looking statements involve risks and uncertainties, actual
results and events may differ materially from results and events
currently expected by ACM. ACM undertakes no obligation to publicly
update these forward-looking statements to reflect events or
circumstances that occur after the date hereof or to reflect any
change in its expectations with regard to these forward-looking
statements or the occurrence of unanticipated events.
© ACM Research, Inc. The ACM Research logo are trademarks of ACM
Research, Inc. For convenience, these trademarks appear in this
press release without ™ symbols, but that practice does not mean
that ACM will not assert, to the fullest extent under applicable
law, its rights to such trademarks.
For investor and media inquiries, please
contact: |
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In the United
States: |
The Blueshirt
Group |
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Yujia Zhai |
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+1 (860) 214-0809 |
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yujia@blueshirtgroup.com |
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In China: |
The Blueshirt Group Asia |
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Gary Dvorchak, CFA |
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gary@blueshirtgroup.com |
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