ACM Research Co., Ltd.
FREMONT, Calif., Sept. 30, 2024 (Globe Newswire) — ACM Research, Inc. (“ACM”) (NASDAQ: ACMR) announced today that its operating subsidiary, ACM Research (Shanghai), Inc. (hereinafter referred to as “ACM Shanghai”), announced today that ACM Shanghai’s backlog figures as of September 30, 2024 and September 27, 2023 have been announced. The company announced that it has been posted on the website of the Shanghai Stock Exchange (link to China disclosure).
Unfinished business
As of September 30, 2024 and September 27, 2023, ACM Shanghai’s order backlog amounted to RMB 6,764.6 million (US$964.8 million) and RMB 6,795.8 million, respectively. The total outstanding figure includes orders for tools that have been shipped but have not yet been recognized as revenue under PRC Generally Accepted Accounting Principles (“China GAAP”) and orders for tools to be shipped in the future. Includes orders.
(million RMB)
item
As of September
30th 2024
As of September
27, 2023
YoY comparison
change (%)
Order based on contract
6,764.6
6,525.7
3.66
Awarded through a formal bidding process and a formal contract is pending
0.00
270.1
-100.00
total backlog
6,764.6
6,795.8
-0.46
Backlog is not a financial measure as defined or recognized by Chinese GAAP or U.S. Generally Accepted Accounting Principles. In addition, ACM Shanghai’s backlog determination and calculation methods and underlying assumptions may not be comparable to methodologies and assumptions used by other companies. Orders in the backlog may not actually generate the revenue amount estimated above.
All US dollar amounts above are for reference only and have been converted using Wall Street Journal closing exchange rates as of September 27, 2024.
Report date
ACM Shanghai is expected to release its full financial results for the nine months to 30 September 2024 after the Chinese market closes on 30 October 2024, and on the same day, ACM will release its full financial results for the nine months to 30 September 2024. The company plans to report preliminary financial results for the nine months to date. Market is open in the US
ACM plans to release full financial results for the third quarter of 2024 and to hold a conference call to discuss the results in early November 2024. Specific reporting dates and conference call details will be announced at a later date.
Forward-looking statements
Certain statements contained in this press release are not historical facts and may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “designed” and similar words are intended to identify forward-looking statements. Forward-looking statements are based on the current expectations and beliefs of ACM management and are subject to a number of risks and uncertainties that are difficult to predict and that actual results may not be the same as stated in or implied by the forward-looking statements. The results may differ significantly from those shown. Some of these risks, uncertainties and other matters are described in ACM’s filings with the Securities and Exchange Commission, all of which are available at www.sec.gov. Forward-looking statements involve risks and uncertainties that could cause actual results or events to differ materially from those currently anticipated by ACM. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. ACM does not intend to update these forward-looking statements to reflect events or circumstances that occur after the date of this document, or to reflect changes in these forward-looking statements or expectations regarding the occurrence of unanticipated events. We have no obligation to update publicly.
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About ACM Research Inc.
ACM develops semiconductor processing equipment for single-wafer and batch wet cleaning, electroplating, stress-free polishing, vertical furnace processing, track and PECVD essential for advanced semiconductor device manufacturing and wafer-level packaging. , manufactures and sells. ACM is committed to providing customized, high-performance, cost-effective process solutions that semiconductor manufacturers can use across numerous manufacturing steps to increase productivity and product yield. For more information, please visit www.acmrcsh.com.
© ACM Research, Inc. The ACM Research logo is a trademark of ACM Research, Inc. For convenience, this trademark appears without the ™ symbol in this press release, but that does not mean that ACM does not claim to the fullest extent: APPLICABLE LAW AND RIGHTS TO SUCH TRADEMARKS. All other trademarks are the property of their respective owners.
For investor and media inquiries, please contact:
In the US:
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Stephen C. Pelayo, CFA
+1 (360) 808-5154
stephen@blueshirtgroup.co
In China:
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Gary Dvorczak, CFA
+86 (138) 1079-1480
gary@blueshirtgroup.co
