ACM Research Announces Preliminary Unaudited Revenue and Shipments for the First Quarter 2024

Coincides with Release of ACM Shanghai First Quarter 2024 Results
ACM Reaffirms 2024 Revenue Outlook

FREMONT, Calif., April 26, 2024 (GLOBE NEWSWIRE) -- ACM Research, Inc. (“ACM”) (NASDAQ: ACMR), a leading supplier of wafer processing solutions for semiconductor and advanced wafer-level packaging applications, today announces expectations for preliminary unaudited revenue and total shipments for the first quarter of 2024. Today’s release coincides with the as-scheduled release of unaudited financial results by ACM Research (Shanghai), Inc., ACM’s principal operating subsidiary (“ACM Shanghai”), to the Shanghai Stock Exchange website [link to China Disclosure].

ACM will discuss its full financial results for the first quarter 2024 and its revenue outlook for the remainder of the year on its earnings call on Wednesday, May 8, 2024, at 8 a.m. Eastern Time (8 p.m. China Time).

ACM announces the following:

• preliminary unaudited revenue for the first quarter of 2024 is expected to be in the range of $150 million to $152 million, which would represent year-to-year growth of 102% to 105%.
• preliminary total shipments are expected to be in the range of $235 million to $240 million, which would represent year-to-year growth of 163% to 169%.
• re-affirms full year 2024 revenue outlook in the range of $650 million to $725 million, which would represent year-to-year growth of 17% to 30%.
  

Actual unaudited first quarter 2024 results are subject to the completion of ACM’s quarter end closing procedures and review by ACM’s independent registered public accounting firm.

ACM currently owns an 82.1% equity interest in ACM Shanghai, and a substantial majority of ACM’s consolidated revenue and net income is contributed by ACM Shanghai. The stand-alone financial results of ACM Shanghai are reported in RMB as prepared in accordance with Chinese generally accepted accounting principles, 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.