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Jurisdiction of Incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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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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Item 8.01
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Other Events.
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Item 9.01
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Financial Statements and Exhibits.
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Exhibit
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Description
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Record of November 2023 Investor Relations Activity filed by ACM Research (Shanghai), Inc. with the Shanghai Stock Exchange on November 13, 2023
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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
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Dated: December 8, 2023
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Stock Code: 688082
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Short Name: ACMSH
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2. What is the current progress of the Company’s PECVD equipment?
A: Our PECVD equipment team is actively cooperating with our customers and we believe they have made considerable progress in both
hardware and software improvements. For the PECVD equipment, we have created our patented IP on the route towards differentiated technologies, which also brings more technical parameters and performance mapping. Once we overcome the
difficulties to complete the verification and development, we expect our differentiated technologies will create significant output. In the future, we expect our PECVD equipment will be promoted in the global market.
3. The third quarter saw a significant increase in the Company’s comprehensive gross margin. How about the trend of
gross margins for various products, including cleaning equipment, in addition to the upward proportions of electroplating and furnace tube products?
A: We have not disclosed the gross margin level by individual product. Generally speaking, electroplating and high-end cleaning
equipment have higher gross margins, while some equipment for advanced packaging and mature processes has relatively lower gross margins. At the same time, gross margin levels vary by customer and application. In addition, the batching
effect is expected to directly lead to a decline in production costs, which is expected to a certain extent to also push up the gross margin level for our products. In the future, considering the competitive characteristic of the whole
market as well as the balanced development of marketization, our gross margin target remains within the range of 40% to 45%.
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4. How about the current development and the future outlook for the Company’s electroplating products?
A: We have developed a comparatively full line of electroplating equipment, covering all kinds of electroplating equipment sold in
the current international market, including Damascene plating, TSV plating, advanced packaging plating, and third-generation semiconductor plating equipment, the processes of which have also been verified. Our breakthroughs in
electroplating have led to repeat orders, which is reflected in our revenue. We expect that next year, our electroplating products will still maintain a high growth. The electroplating market is rapidly expanding, mainly due to the
construction of the front-end process plants and the demand for electroplating in 3D packaging. As such, we have a good view about the prospects of the electroplating market. In the future, we expect our electroplating equipment
will also be marketed internationally, and in turn benefit from the growth of the global market.
5. What about the customer development for advanced packaging field at home and abroad?
A: Domestically, almost all packaging enterprises in China have introduced our packaging equipment, including copper plating
equipment and coater/developer Track tool. Meanwhile, with our efforts in promoting our packaging equipment to the international market, various companies including those of the U.S. have also used our wet process products in
their production lines in China. In the future, we plan to focus on the field of advanced packaging, leveraging our comprehensive advanced packaging wet process equipment and our global sales team’s efforts to expand the market
share of our advanced packaging products.
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6. What is the current progress of the Company’s Track equipment for ArF and KrF? How about the advanced
indicators?
A: We believe our Track equipment has made good progress and is expected to dock with the lithographic tools at the end of this year. As
an important feature, the equipment adopts an advanced architecture design, enabling high efficiency and output. Our equipment has a capacity of 300-330 pieces, which in the future can, with our architecture, also meet the capacity
requirements of 400-450 pieces. Meanwhile, after more than ten years of development, we also excel in the stability of electronic control and software. Moving forward, we hope that with our products, we can break the current
monopolistic market situation and become the second supplier of Track equipment worldwide.
7. What is the Company’s outlook for the demand from or expansion to non-mainstream customers such as second- and
third-tier factories next year?
A: We believe some of the non-mainstream customers will continue to expand next year. In the future, we believe increased demand for
electric vehicles and other application terminals will drive significant growth in demand for semiconductors such as power devices. We believe this will also lead to demand for upstream equipment including, among others, cleaning,
electroplating and furnace tube equipment. We are thus still bullish on the growth of non-mainstream customers in the future.
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8. What do you think about the trend of advanced process capacity expansion in China? What is the development of the
Company’s advanced process equipment? Is there a big difference between the value of the Company’s advanced process and mature process?
A: Our revenue comes mainly from mature process equipment. The core of the future advanced process capacity expansion in China lies in the
need to add some core equipment. The Company insists on a two-way development strategy: serving the domestic market in China, and increasing investment in advanced processes to develop customers worldwide, including in South Korea and the
U.S.. We believe we will see an increased proportion of revenue from advanced processes in the future from increased contribution from global customers. Regarding our advanced process, we have supercritical CO2 cleaning equipment and more
advanced cleaning technology reserves, ALD, electroplating equipment, PECVD equipment, and Track equipment, the proportion of which we also expect to grow.
9. What is the Company’s outlook for the future market share of cleaning equipment?
A: Our target for the future market share of our cleaning equipment in China is within the range of 50% to 60%.
10. What do you think about the change of market competition pattern in the next few years?
A: We believe the competition in the future Chinese market will still be technology-based, with the ability to provide customers
with the best technology and cost-effectiveness being the core of the market. We believe our core competitiveness lies in our fully independent intellectual property rights. We believe that as current domestic production expansion
in China matures, the Chinese market will enter a phase of competition based on independent core technologies. Additionally, while possessing independent core technologies, a player will also need to be able to expand into the
international market.
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Acuity Knowledge Partners (Hong Kong) Limited
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CRIC Securities
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Hel Ved Capital Management Limited
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IGWT Investment
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Sealand Securities Co., Ltd.
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Sinolink Securities Co., Ltd.
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China Development Bank Securities Co., Ltd.
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Guolian Securities Co., Ltd.
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Guorong Fund Management Co., Ltd.
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Guotai Asset Management Co., Ltd.
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Guotai Junan International Holdings Limited
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Guotai Junan Securities Co., Ltd.
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Guotai Securities Investment Trust Co., Ltd.
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Hainan Qianxin Private Fund Management Co., Ltd.
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Shanghai Yuexi Private Equity Fund Management Partnership (L.P.)
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Hainan Palm Bay Investment Co., Ltd.
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Haitong Innovation Private Fund Management Co., Ltd.
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Haitong Innovation Securities Investment Co., Ltd.
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Haitong International Asset Management (HK) Limited
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Haitong Securities Co., Ltd.
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Korea Investment
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Hanchuan Investment Management (Zhuhai) Co., Ltd.
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Jwin Capital Co., Ltd.
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Hangzhou Kaisheng Investment Management Co., Ltd.
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Hangzhou Zhengxin Private Equity Fund Management Co., Ltd.
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Harvest Forever Capital Management (Beijing) Co., Ltd.
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Hexie Health Insurance Co., Ltd.
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Henan Huizhong Asset Management
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Focusbridge Investments Limited Co., Ltd.
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Hony Horizon Fund Co., Ltd.
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Sequoia Capital Equity Investment Management (Tianjin) Co., Ltd.
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Hongta Securities Co., Ltd.
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Red Earth Innovation Fund Management Co., Ltd.
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Harmony Capital Financial Holdings Company Limited
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Hongyun Private Equity Fund Management (Hainan) Co., Ltd.
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Citigroup Global Markets Asia Limited
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Hua’an Financial Insurance Asset Management Co., Ltd.
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Hua’an Securities Co., Ltd.
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Guizhou Huachuang Securities Broker Co., Ltd.
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Huafu Securities Co., Ltd.
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Huafu Fund Management Co., Ltd.
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Huajin Securities Co., Ltd.
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Huatai Baoxing Fund Management Co., Ltd.
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Huatai Financial Holdings (Hong Kong) Limited
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Huatai Securities Co., Ltd.
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Huaxi Securities Co., Ltd.
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China Asset Management Co., Ltd.
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GAM HONG KONG LIMITED
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HSBC Qianhai Securities Co., Ltd.
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Springs Fund Management Co., Ltd.
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Jiahe Fund Management Co., Ltd.
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Harvest Fund Management Limited
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CCB Principal Asset Management Co., Ltd.
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Jianghai Securities Co., Ltd.
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Jiangsu Parallel Asset Management Co., Ltd.
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Jiangsu Winfast Investment Holding Group Co., Ltd.
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Jiangsu Shagang Group Investment Holding Co., Ltd.
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Jiangxi Bide Mingqi Private Equity Fund Management Co., Ltd.
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Jiangxi Bide Mingqi Asset Management Co., Ltd.
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Jingu Securities Investment Consulting Guangdong Co., Ltd
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Jinxin Fund Management Co., Ltd.
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Golden Glede Private Equity Fund Management (Zhuhai Hengqin) Co., Ltd.
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Golden Eagle Asset Management Co., Ltd.
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Value Partners Goldstate Fund Management Co., Ltd.
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Junhai Chuangxin (Beijing) Consulting Management Co., Ltd.
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Kaiyuan Securities Co., Ltd.
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Orchid Asia China Management Company Limited
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Ledger Capital Investment Co., Ltd.
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Minsheng Royal Fund Management Co., Ltd.
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JPMorgan Securities (China) Co., Ltd.
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Morgan Stanley Investment Management Co., Ltd.
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Nanjing Ruilan Private Fund Management Co., Ltd.
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Nanjing Yuyang Private Equity Fund Management Partnership Enterprise (L.P.)
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Ningbo Meishan Free Trade Port Xinshi Investment Management Co., Ltd.
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Agricultural Bank of China Life Insurance Co., Ltd.
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Panhou Dynamic (Shanghai) Capital Management Co., Ltd.
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Ping An Securities Co., Ltd.
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Qingdao Jinguang Zijin Venture Capital Management Co., Ltd.
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Qingdao Rural Commercial Bank Corporation
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Cephei Capital Management (Tianjin) Limited
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Sanya Yufengsheng Private Fund Management Co., Ltd.
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Shanxi Securities Co., Ltd.
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Shanxi Securities International Asset Management Limited
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Merchants Securities Asset Management Co., Ltd.
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Shanghai Binghe Asset Management Co., Ltd.
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Shanghai Bodu Investment Management Co., Ltd.
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Shanghai Chen Yan Asset Management Center (L.P.)
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Shanghai CRASSETS Investment Management Co., Ltd.
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Dingfeng Asset Management Co., Ltd.
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Shanghai Fengcang Equity Investment Fund Management Co., Ltd.
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Shanghai Fortune Asset Management Co., Ltd.
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Shanghai Hillview Private Equity Fund Management Co., Ltd.
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Shanghai International Trust Co., Ltd.
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Shanghai Hanggui Investment Management Co., Ltd.
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Shanghai Red Elephant Investment Management Co., Ltd.
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Shanghai Granview Asset Management CO., Ltd.
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Shanghai Jinhe Asset Management Center(L.P.)
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Amber Asset Management Company Limited
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Shanghai Lingze Private Fund Management Co., Ltd.
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Shanghai Miyuan Investment Management Company
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Shanghai Mingyu Asset Management Co., Ltd.
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Shanghai Minghe Investment Management Co., Ltd.
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Shanghai Muchasset Management Co., Ltd.
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Shanghai S-land Asset Management Co., Ltd.
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Shanghai Pertrust Capital Co., Ltd.
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Shanghai Cosea Investment Management Co., Ltd.
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Shanghai Qiuyang Capital Co., Ltd.
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Shanghai Zige Investment Management Co., Ltd.
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Shenwan Hongyuan Securities
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Shenzhen Guohui Investment Co., Ltd.
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Leadinghorse Capital Management Co., Ltd.
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Schroders Group Co., Ltd.
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BOCOM Schroder Wealth Management Co., Ltd.
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PAG
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Taiping Asset Management Co., Ltd.
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Tianfeng (Shanghai) Securities Asset Management Co., Ltd.
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China Nature Asset Management Co., Ltd.
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Western Securities Co., Ltd.
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Tibet Yuancheng Investment Management Co., Ltd.
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Sinatay Life Insurance Co., Ltd.
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Aegon-industrial Fund Management Co., Ltd.
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Xingyin Fund Management Co., Ltd.
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Sunlight Asset Management Co., Ltd.
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Ten Asset Management Limited
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Yiju Asset (Shanghai) Management Co., Ltd.
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Finsights Fund Management Co., Ltd.
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Yongfeng Fund Management Co., Ltd.
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Yuanxin (Zhuhai) Private Equity Fund Management Co., Ltd.
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Yunfeng Financial Group Limited
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Zhangjiagang Gaozhu Private Equity Fund Management Co., Ltd.
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Great Wall Wealth Insurance Asset Management Co., Ltd.
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China Greatwall SECURITIES Co., Ltd.
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Changjiang Pension Insurance Co., Ltd.
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Changjiang Securities (Shanghai) Asset Management Co., Ltd.
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Changjiang Securities Company Limited
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Hangzhou Guotian Asset Management Co., Ltd.
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Zhejiang Rice Bank Asset Management Co., Ltd.
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Zhejiang Zheshang Securities Asset Management Co., Ltd.
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Zheshang Securities Co., Ltd.
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Zhengzhou Yunshan Investment Management Ltd.
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YT Capital Limited
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Industrial and Commercial Bank of China Limited
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CHINA EVERBRIGHT LIMITED
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China International Capital Corporation Limited
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China Minsheng Banking Corp., Ltd.
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PICC Asset Management Company Limited
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China Life Asset Management Co., Ltd.
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Xinxing Asset Management Company of China
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China Galaxy Securities Co., Ltd.
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Ing-Bob Life Insurance Co., Ltd.
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China Kewo Soil Fund Management Co., Ltd.
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Lombarda China Fund Management Co., Ltd.
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Zhongtai Securities Co., Ltd.
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CITIC-PRUDENTIAL Fund Management Company Ltd.
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CITIC Prudential Asset Management Co., Ltd.
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China Securities Co., Ltd.
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CITIC Securities Co., Ltd.
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Italian Asset Management Co., Ltd.
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BOC International Securities Co., Ltd.
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Bank of China Wealth Management Co., Ltd.
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BOC Samsung Life Insurance Co., Ltd.
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China Post Securities Co., Ltd.
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Central China Securities Co., Ltd.
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Chongqing Derui Hengfeng Asset Management Co., Ltd.
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Chongqing Jinke Investment Holding (Group) Co., Ltd.
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Zhuhai Huiyuan Private Equity Fund Management Co., Ltd.
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Document and Entity Information |
Nov. 13, 2023 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Nov. 13, 2023 |
Entity File Number | 001-38273 |
Entity Registrant Name | ACM Research, Inc. |
Entity Central Index Key | 0001680062 |
Entity Incorporation, State or Country Code | CA |
Entity Tax Identification Number | 94-3290283 |
Entity Address, Address Line One | 42307 Osgood Road |
Entity Address, Address Line Two | Suite I |
Entity Address, City or Town | Fremont |
Entity Address, State or Province | DE |
Entity Address, Postal Zip Code | 94539 |
City Area Code | 510 |
Local Phone Number | 445-3700 |
Title of 12(b) Security | Class A Common Stock, par value $0.0001 per share |
Trading Symbol | ACMR |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | false |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
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