UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 9, 2024
ACM Research, Inc.
(Exact Name of Registrant as Specified in its Charter)
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Delaware
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001-38273
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94-3290283
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(State or Other Jurisdiction of Incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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42307 Osgood Road, Suite I
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Fremont, California
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94539
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(Address of Principal Executive Offices)
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(Zip Code)
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Registrant’s telephone number, including area code: (510) 445-3700
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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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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Securities registered pursuant to Section 12(b) of the Act:
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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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Class A Common Stock, par value $0.0001 per share
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ACMR
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The Nasdaq Stock Market LLC
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Indicate by check mark whether the registrant is an emerging growth company as defined in
Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934:Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to
use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 2.02. |
Results of Operations and Financial Condition.
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On January 9, 2024, we issued a press release entitled “ACM Research Updates 2023 Revenue Outlook and Provides Initial Outlook for 2024 Revenue.” The
full text of the press release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference.
The information contained in this Item 2.02, including the exhibit furnished hereto, is intended to be furnished and shall not be deemed “filed” for purposes of Section
18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, or the Securities Exchange Act of 1934, except as
expressly set forth by specific reference in such filing.
| Item 9.01 |
Financial Statements and Exhibits.
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(d) Exhibits.
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Exhibit
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Description
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Press Release of ACM Research, Inc. dated January 9, 2024
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104
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Cover Page Interactive Data File (embedded within the XBRL document)
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto
duly authorized.
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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: January 9, 2024
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3
ACM Research Updates 2023 Revenue Outlook and
Provides Initial Outlook for 2024 Revenue
—Updates 2023 Revenue Outlook to $530 to$545 Million
—Projected 2024 Revenue of $650 to $725 Million—
—ACM to Participate at Upcoming Conference and Event—
FREMONT, Calif., Jan. 9, 2024 (GlobeNewswire) – ACM
Research, Inc. (“ACM”) (NASDAQ: ACMR), a leading supplier of wafer processing solutions for semiconductor and advanced wafer-level packaging applications, today has updated its full year 2023 revenue outlook to a range of $530
million to $545 million, versus a range of $520 million to $540 million as was provided in ACM’s third quarter 2023 earnings release issued on November 7, 2023.
ACM also announced that it expects revenue for the full year 2024 to be in the range of $650 million to $725 million. This expectation is based on ACM management’s current assessment of the continuing impact from international trade policy, together with various expected spending scenarios of key customers, supply chain constraints, and the timing of acceptances
for first tools under evaluation in the field, among other factors.
“We expect continued growth in 2024 as we continue on our mission to become a key supplier to major semiconductor manufacturers,” said Dr. David Wang,
ACM’s President and Chief Executive Officer. “We anticipate solid investments in mature node capacity by our China-based customers, and we remain committed to expanding our multi-product portfolio. We are making good progress with customers in
markets beyond mainland China which we believe will begin to contribute to our business in the coming years.”
ACM plans to release its fourth quarter and full year 2023 financial results in late February 2024. The 2023 revenue outlook included in this press release is preliminary.
Actual fourth quarter and full year 2023 revenue results are subject to review and audit procedures by ACM’s independent registered public accounting firm.
Upcoming Conferences and Events
ACM will be participating in a virtual investor group meeting hosted by UBS on January 10, 2024 (China time) and virtual 1x1 meetings on January 16, 2024 (U.S. time) at the
26th Annual Needham Growth Conference.
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
that are critical to advanced semiconductor device manufacturing, as well as 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
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. Words such as “plans,” “expects,” “believes,” “anticipates,” “designed,” and similar words are intended to identify forward-looking statements. 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. A description of certain of these risks,
uncertainties and other matters can be found in filings ACM makes with the U.S. Securities and Exchange Commission, all of which are available at www.sec.gov. Because forward-looking statements involve risks and uncertainties, actual results and
events may differ materially from results and events currently expected by ACM. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. 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 is trademark of ACM Research, Inc. For convenience, this trademark appears in this press release without a ™ symbol, but that
practice does not mean that ACM will not assert, to the fullest extent under applicable law, its rights to such trademark.
For investor and media inquiries, please contact:
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In the United States:
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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:
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The Blueshirt Group Asia
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Gary Dvorchak, CFA
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gary@blueshirtgroup.com
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