ACM Research, Inc. (ACMR) Business

Item 1.    Business

Overview

We supply advanced, innovative capital equipment developed for the global semiconductor industry.

Our products are designed to address yield-critical and performance-sensitive process steps that become increasingly difficult as semiconductor devices scale to smaller geometries and more complex structures. We focus on developing differentiated process solutions that enable effective particle removal, uniform material deposition, and reliable process control, while helping customers manage cost of ownership, throughput, and environmental considerations. We believe this approach has supported broader adoption of our tools across multiple technology nodes and device types.

Fabricators of advanced integrated circuits, or chips, can use our wet-cleaning, plating, furnace, PECVD, track, and other front-end processing equipment in numerous steps to improve product yield, even at increasingly advanced process nodes. We have designed these products for use in fabricating foundry, logic and memory chips, including dynamic random-access memory, or DRAM, and 3D NAND-flash memory chips. We also develop, manufacture and sell a range of advanced packaging equipment to wafer assembly and packaging customers.

Revenue from single wafer cleaning, Tahoe and semi-critical cleaning equipment totaled $626.0 million, or 69.5% of total revenue in 2025, $578.9 million, or 74.0% of total revenue in 2024, and $403.9 million, or 72.4% of total revenue in 2023. Revenue from ECP (front-end packaging), furnace and other technologies totaled $199.6 million, or 22.1% of total revenue in 2025, $151.1 million, or 19.3% of total revenue, in 2024, and $103.4 million, or 18.5% of total revenue in 2023. Revenue from advanced packaging (excluding ECP), services and spares totaled $75.8 million, or 8.4% of total revenue in 2025, $52.2 million, or 6.7% of total revenue in 2024, and $50.5 million, or 9.1% of total revenue in 2023. Selling prices for our tools generally range from $0.5 million to more than $5 million.

We estimate, based on third-party reports and on customer and other information, that our current product portfolio addresses approximately $21 billion of the 2025 global wafer fab equipment, or WFE, market. By product line, we estimate an approximately $7.3 billion market opportunity is addressed by our wafer cleaning equipment, $5.3 billion by our Plasma-Enhanced Chemical Vapor Deposition, or PECVD, equipment, $3.0 billion by our Track equipment, $2.6 billion by our furnace equipment, $1.5 billion by our electro-chemical plating, or ECP, equipment, and more than $1.2 billion by our stress-free polishing, advanced packaging, wafer processing, and other processing equipment.

Gartner estimates the total worldwide semiconductor WFE market grew by 11.0% from $111.6 billion in 2024 to $123.9 billion in 2025, and estimates will increase by 11.8% to $138.5 billion in 2026. Gartner estimates China WFE decreased by 1.7%, from $40.0 billion in 2024 to $39.3 billion in 2025, and is expected to decrease by 9.9% to $35.4 billion in 20261.

We have focused our selling efforts on establishing a referenceable base of leading foundry, logic and memory chip makers, whose use of our products can influence decisions by other manufacturers. We believe this customer base has helped us penetrate the mature chip manufacturing markets and build credibility with additional industry leaders. We have used a “demo-to-sales” process to place evaluation equipment, or “first tools,” with numerous selected customers.

To date, a substantial majority of our sales of semiconductor capital equipment have been to customers located in Asia, and we anticipate that a substantial majority of our revenue from these products will continue to come from customers located in this region for the foreseeable future. Our operation includes sales, marketing and services personnel in North America, Western Europe and Southeast Asia to expand and support major new customer initiatives for the products of ACM Shanghai to additional regions beyond mainland China.

1 The information contains statistical data and estimates, including forecasts, that are based on information provided by Gartner®, "Forecast: Semiconductor Capital Spending, Wafer Fab Equipment and Capacity, Worldwide, 4Q25 Update, Revenue Basis, Bob Johnson et al., 23 December 2025."

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Our Technology and Product Offerings

Semiconductor manufacturing is becoming increasingly complex as device scaling, 3D architectures, advanced packaging, and power efficiency requirements place greater demands on yield-critical process steps. These trends increase the importance of differentiated process equipment capable of operating within tighter tolerances, supporting new materials, and integrating across multiple manufacturing stages.

We develop and deliver a broad portfolio of differentiated semiconductor process equipment that spans front-end wafer fabrication through advanced packaging. Our product platforms are built around proprietary process technologies and system architectures designed to address increasingly complex device structures, tighter process windows, and rising yield sensitivity at advanced nodes. Our current business mix is primarily from wet cleaning, plating, and advanced packaging. We have been investing in the development of new products for several adjacent front-end process steps—including furnace, PECVD, and track—leveraging common design principles, modular platforms, and deep process integration.This multi-product approach enables us to support customers across a larger portion of the manufacturing flow, deepen technical engagement, and is intended to create additional growth opportunities over time.

Wet Cleaning Equipment for Front End Production Processes

Wafer cleaning is a foundational process step in semiconductor manufacturing, directly impacting yield, reliability, and device performance across every major technology node. As device architectures have evolved toward smaller geometries, higher aspect ratios, and complex 3D structures, cleaning requirements have become increasingly demanding—requiring effective particle and residue removal while minimizing pattern damage and chemical consumption. Our wet cleaning portfolio is designed to address these challenges through proprietary process technologies, modular architectures, and application-specific configurations that support both advanced and mature nodes. Our solutions are deployed across multiple front-end process steps and are optimized to balance performance, yield, throughput, cost of ownership, and environmental considerations.

Our wet-cleaning platforms incorporate proprietary SAPS, TEBO, and Tahoe technologies, enabling effective removal of random particles while preserving delicate wafer features, even at increasingly advanced process nodes (the minimum line widths on a chip). The systems are built on a modular architecture that allows customers to tailor tool configurations to specific process requirements, while leveraging standardized chamber, electrical, chemical delivery, and control modules.

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This approach supports rapid configuration, efficient qualification, and optimized chemical selection without sacrificing reliability or scalability. While our tools are primarily designed for 300mm silicon wafer manufacturing, we also offer solutions for 150mm and 200mm wafers, as well as non-standard substrates including compound semiconductors, quartz, sapphire, glass, and plastics.

•Space Alternated Phase Shift, or SAPS, technology for flat and patterned (deep via or deep trench with stronger structure) wafer surfaces. SAPS technology employs alternating phases of megasonic waves to deliver megasonic energy in a highly uniform manner on a microscopic level. We have shown SAPS technology to be more effective than conventional megasonic and jet spray technologies in removing random defects across an entire wafer, with increasing relative effectiveness at more advanced production nodes.

•Timely Energized Bubble Oscillation, or TEBO, technology for patterned wafer surfaces at advanced process nodes. TEBO technology has been developed to provide effective, damage-free cleaning for 2D and 3D patterned wafers with fine feature sizes. We have demonstrated the damage-free cleaning capabilities of TEBO technology on patterned wafers for feature nodes as small as 1xnm (16 to 19 nanometers, or nm), and we have shown TEBO technology can be applied in manufacturing processes for patterned chips with 3D architectures having aspect ratios as high as 60‑to‑1.

•Tahoe technology for cost and environmental savings. Tahoe technology delivers high cleaning performance using significantly less sulfuric acid and hydrogen peroxide than is typically consumed by conventional high-temperature single-wafer cleaning tools.

•Semi-critical cleaning. Our cleaning portfolio also comprises a suite of semi-critical cleaning products including single wafer back-side cleaning, scrubber, and auto bench.

ECP, Furnace, PECVD, and Track Platforms

Building on our core strengths in wet processing, ACM has expanded into several adjacent front-end process categories, including electrochemical plating (ECP), furnace, PECVD, and track platforms. Each of these product lines incorporates our differentiated approach to tool design, process control, and modular architecture, allowing us to apply proprietary technologies across multiple steps in the manufacturing flow. Our ECP portfolio addresses both front-end interconnect formation and back-end advanced packaging applications, while our furnace, PECVD, and track platforms are at earlier stages of customer evaluation and adoption, with meaningful long-term growth potential. Together, these platforms reflect our strategy to evolve into a broader, multi-product supplier supporting advanced logic, memory, power, and packaging applications.

•ECP technology for advanced metal plating. Our Ultra ECP ap, or Advanced Packaging, technology was developed for back-end assembly processes to deliver a more uniform metal layer at the notch area of wafers prior to packaging. Our Ultra ECP map, or Multi-Anode Partial Plating, technology was developed for front-end wafer fabrication processes to deliver advanced electrochemical copper plating for copper interconnect applications. Ultra ECP map offers improved gap-filling performance for ultra-thin seed layer applications, which is critical for advanced nodes at 28nm, 14nm and beyond.

•Ultra fn Furnace. Our Ultra fn Furnace is our first dry processing tool. Our Ultra fn vertical furnace features a proprietary quartz-based process chamber capable of operating at temperatures up to 1250°C while maintaining uniformity, a performance level that we believe is not currently achieved by other vertical furnace platforms.

•Ultra Pmax™ PECVD tools. Our Ultra Pmax™ PECVD products are equipped with a proprietary designed chamber, gas distribution unit and chuck, and is intended to provide better film uniformity, reduced film stress, and improved particle performance.

•Ultra Track. Our Ultra Track products include a 300mm process tool that delivers uniform air downflow, fast robot handling and configurable software to address specific customer requirements, and has multiple features that enhance performance across defectivity, throughput, and cost of ownership.

Advanced Packaging and other Back-End Processing Tools

We leverage our technology and expertise to provide a range of single-wafer products for back-end wafer assembly and packaging customers. We develop, manufacture and sell a wide range of advanced packaging equipment, such as coaters, developers, photoresist strippers, scrubbers, wet etchers and copper-plating equipment. We focus on providing custom-made, differentiated equipment that incorporates customer-requested features at a competitive price.

For example, our Ultra C Coater is used in applying photoresist, a light-sensitive material used in photolithography to transfer a pattern from a mask onto a wafer. Coaters typically provide input and output elevators, shuttle systems and other

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devices to handle and transport wafers during the coating process. Unlike most coaters, the Ultra C Coater is fully automated. Based on requests from customers, we developed and incorporated the special function of chamber auto-clean module into the Ultra C Coater, which further differentiates it from other products in the market by reducing or eliminating the cleaning of shroud in the coater which increases the tool’s continuous production time. The Ultra C Coater is designed to deliver improved throughput and more efficient tool utilization while eliminating particle generation.

Our other advanced packaging products include: Ultra ECP ap, which delivers a uniform metal layer to finished wafers prior to packaging; Ultra C Developer, which applies liquid developer to selected parts of photoresist to resolve an image; Ultra C PR Megasonic-Assisted Stripper, which removes photoresist; Ultra C Scrubber, which scrubs and cleans wafers; Ultra C Thin Wafer Scrubber, which addresses a sub-market of cleaning very thin wafers for certain Asian assembly factories; and Ultra C Wet Etcher, which etches silicon wafers and copper and titanium interconnects.

Our Customers

To date, substantially all of our sales of equipment for semiconductor-manufacturing have been to customers located in mainland China, and we anticipate that a substantial majority of our revenue from these products will continue to come from customers located in this region for the foreseeable future. We have begun to add to our efforts to further address customers in North America, Western Europe and Southeast Asia, by expanding our direct sales teams and increasing our global marketing activities.

Since 2009 we have delivered more than 1,435 tools to our customers, more than 1,255 of which were repeat orders or acceptances upon contractual performance obligations having been met and thereby generated revenue to us. The balance of the delivered tools is subject to the customer's acceptance of the tool upon the tool's satisfaction of applicable contractual requirements or subject to the customer's subsequent discretionary commitment to purchase the tool.

Our equipment can generally be configured for use by manufacturers, or customer types, who in turn build a range of different semiconductor types. Our revenue by customer type was distributed as follows: Foundry/Logic/Other represented 59%, 71%, and 64% of total revenue in 2025, 2024, and 2023, respectively; Memory represented 27%, 22%, and 24%; and Advanced Packaging/Wafer Processing represented 14%, 7%, and 13% for the same periods. For information on our customer concentration risks with respect to revenue and accounts receivable, see note 2 to the consolidated financial statements included in this report.

Sales and Marketing

We market and sell our products worldwide using a combination of our direct sales force and third-party representatives. We employ direct sales teams in mainland China, the United States, Southeast Asia, and Europe. We also employ field application engineers, who are typically co-located with our direct sales teams, to provide technical pre- and post-sale support and other assistance to existing and potential customers throughout the customers’ fab planning and production line qualification and fab expansion phases. Our field application engineers are organized by end markets as well as core competencies in hardware, control system, software and process development to support our customers.

To supplement our direct sales teams, we have contacts with several independent sales representatives in mainland China, Korea and Taiwan. We select these independent representatives based on their ability to provide effective field sales, marketing forecast and technical requirement updates for our products. In the case of representatives, our customers place purchase orders with us directly rather than with the representatives.

Our sales have historically been made using purchase orders with agreed technical specifications. Our sales terms and conditions are generally consistent with industry practice but may vary from customer to customer. We seek to obtain a purchase order four to six months ahead of the customer’s desired delivery date. Consistent with industry practice, customers may delay delivery, adjust, or cancel orders prior to shipment subject to penalties.

Our marketing team focuses on our product strategy and technology road maps, product marketing, new product introduction processes, demand assessment and competitive analysis, customer requirement communication and public relations. Our marketing team also has the responsibility to conduct environmental scans, study industry trends and arrange our participation at major trade shows.

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Manufacturing

We conduct a substantial majority of our product development, manufacturing, support and services in mainland China, with additional product development and subsystem production in Korea. Substantially all of our tools are built to order at our Lingang development and production center. See “Item 2. Properties,” of Part I of this report.

We purchase some of the components and assemblies that we subsequently integrate into our products from a range of suppliers, some of which are single-source suppliers, and/or U.S. based suppliers which can no longer supply ACM Shanghai, ACM Korea and related entities as a result of recently enacted regulations including designations on the BIS Entity List. We believe that we can obtain and qualify alternative sources to supply these components. Nevertheless, any delays or prolonged inability to obtain or to replace these components could have an adverse effect on our operating results and could unfavorably impact our customer relationships. Please see “Item 1A. Risk Factors—Risks Related to Our Business and Our Industry—We depend on a limited number of suppliers, including single source suppliers, for critical components and assemblies, and our business could be disrupted if they are unable to meet our needs.”

Research and Development

We believe that our success depends in part on our ability to develop and deliver breakthrough technologies and capabilities to meet our customers’ ever-more challenging technical requirements. For this reason, we devote significant financial and personnel resources to research and development. Our research and development team is comprised of highly skilled engineers and technologists with extensive experience across a range of technologies, cleaning processes and chemistry, mechanical design, and control system design.

Longer term, we are working on new proprietary process capabilities based on our existing tool hardware platforms. We are also working to integrate our tools with third-party tools in adjacent process areas in the chip manufacturing flow.

Intellectual Property

Our success and future revenue growth depend, in part, on our ability to protect our intellectual property. We control access to and use of our proprietary technologies, software and other confidential information through the use of internal and external controls, including contractual protections with employees, consultants, advisors, customers, partners and suppliers. We rely primarily on patent, copyright, trademark and trade secret laws, as well as confidentiality procedures, to protect our proprietary technologies and processes. All employees and consultants are required to execute confidentiality agreements in connection with their employment and consulting relationships with us. We also require them to agree to disclose and assign to us all inventions conceived or made in connection with the employment or consulting relationship.

We have aggressively pursued intellectual property since our founding in 1998. We focus our patent filing efforts in the United States, and, when justified by cost and strategic importance, we file corresponding foreign patent applications in strategic jurisdictions such as the European Union, mainland China, Japan, Singapore, Korea, and Taiwan. Our patent strategy is designed to provide a balance between the need for coverage in our strategic markets and the need to maintain costs at a reasonable level.

As of December 31, 2025, we have been issued more than 594 patents in the United States, mainland China, Japan, Korea, Singapore and Taiwan, including 82 issued patents, and 33 patents pending, in the United States. These patents carry expiration dates from 2027 through 2045. Many of the US patents and applications have also been filed internationally, including one or more of the European Union, Japan, mainland China, Singapore, Korea, and Taiwan. Specifically, we own patents in wafer cleaning, electro-polishing and plating, wafer preparation, and other semiconductor processing technologies.

We manufacture advanced single-wafer cleaning systems equipped with our SAPS, TEBO and Tahoe technologies. We have 66 patents granted internationally protecting our SAPS technologies, and we have filed 13 international patent applications for key TEBO technologies, and 8 for Tahoe, in accordance with the Patent Cooperation Treaty. In addition, we have patented technologies for SFP and ECP that are embedded in certain tools. We also have patented technologies in other semiconductor processing areas, including wafer preparation and several specific processing steps.

To date we have not granted licenses to third parties under the patents described above. Not all of these patents have been implemented in products. We may enter into licensing or cross-licensing arrangements with other companies in the future.

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We cannot assure you that any patents will issue from any of our pending applications. Any rights granted under any of our existing or future patents may not provide meaningful protection or any commercial advantage to us. With respect to our other proprietary rights, it may be possible for third parties to copy or otherwise obtain and use our proprietary technology or marks without authorization or to develop similar technology independently.

The semiconductor equipment industry is characterized by vigorous protection and pursuit of intellectual property rights or positions, which have resulted in often protracted and expensive litigation. We may in the future initiate claims or litigation against third parties to determine the validity and scope of proprietary rights of others. In addition, we may in the future initiate litigation to enforce our intellectual property rights or the rights of our customers or to protect our trade secrets.

Our customers could become the target of litigation relating to the patent or other intellectual property rights of others. This could trigger technical support and indemnification obligations in some of our customer agreements. These obligations could result in substantial expenses, including the payment by us of costs and damages related to claims of patent infringement. In addition to the time and expense required for us to provide support or indemnification to our customers, any such litigation could disrupt the businesses of our customers, which in turn could hurt our relations with our customers and cause the sale of our products to decrease. We do not have any insurance coverage for intellectual property infringement claims for which we may be obligated to provide indemnification.

Additional information about the risks relating to our intellectual property is provided under “Item 1A. Risk Factors—Risks Related to Our Intellectual Property and Data Security.”

Competition

The chip equipment industry is characterized by rapid change and is highly competitive throughout the world. We compete with semiconductor equipment companies located around the world, and we may also face competition from new and emerging companies, including new competitors from mainland China. We consider our principal competitors to be those companies that provide wafer cleaning, electrical plating and furnace products to the global market, including Lam Research Corporation, NAURA Technology Group Co., Ltd., SCREEN Holdings Co., Ltd., SEMES Co. Ltd., Tokyo Electron Ltd. and Kokusai Semiconductor Equipment Corporation. Principal competitors for our PECVD and Track products also include Lam Research Corporation, Applied Materials, Inc., and Suzhou Jingtuo Semiconductor Technology Co., Ltd. We also face additional competitors based in mainland China across multiple product lines due in part to the recent entrants of local equipment suppliers.

Compared to our company, our current and potential competitors may have:

•better established credibility and market reputations, longer operating histories, and broader product offerings;

•significantly greater financial, technical, marketing and other resources, which may allow them to pursue design, development, manufacturing, sales, marketing, distribution and service support of their products;

•more extensive customer and partner relationships, which may position them to identify and respond more successfully to market developments and changes in customer demands;

•multiple product offerings, which may enable them to offer bundled discounts for customers purchasing multiple products or other incentives that we cannot match or offer.

The principal competitive factors in our market include:

•performance of products, including particle removal efficiency, rate of damage to wafer structures, high temperature chemistry, throughput, tool uptime and reliability, safety, chemical waste treatment, and environmental impact;

•gap filling capability, the deposited film thickness uniformity within wafer and wafer to wafer, particle generated on the wafer during the processes;

•service support capability and spare parts delivery time; innovation and development of functionality and features that are must-haves for advanced fabrication nodes;

•ability to anticipate customer requirements, especially for advanced process nodes of less than 45nm; ability to identify new process applications;

•brand recognition and reputation; and

•skill and capability of personnel, including design engineers, manufacturing engineers and technicians, application engineers, and service engineers.

In addition, semiconductor manufacturers must make a substantial investment to qualify and integrate new equipment into semiconductor production lines. Once a semiconductor manufacturer has selected a particular supplier’s equipment and qualified it for production, the manufacturer generally maintains that selection for that specific production application and

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technology node as long as the supplier’s products demonstrate performance to specification in the installed base. Accordingly, we may experience difficulty in selling to a given manufacturer if that manufacturer has qualified a competitor’s equipment. If, however, that cleaning equipment constrains chip yield, we expect, based on our experience to date, that the manufacturer will evaluate implementing new equipment that cleans more effectively.

Our People

As of December 31, 2025, we had 2,513 full-time equivalent employees, of whom 196 were in administration, 365 were in manufacturing, 1,228 were in research and development, and 724 were in sales and marketing and customer services. Of these employees, 2,357 were located in mainland China and the Taiwan region, 127 were located in Korea and 29 were based in the United States. We have never had a work stoppage, and none of our employees are represented by a labor organization or subject to any collective bargaining arrangements. We consider our employee relations to be good.

We compete in the highly competitive semiconductor equipment industry, with operations principally in mainland China. Attracting, developing, and retaining skilled and experienced employees in research and development, manufacturing, sales and marketing, and other positions is crucial to our ability to compete effectively. Our ability to recruit and retain such employees depends on a number of factors, including our corporate culture and work environment, informed by our values and behaviors, our corporate philosophy of talent development and career opportunities, and compensation and benefits.

To attract and retain qualified employees and key talent, we offer total compensation packages that are competitive with comparable companies, particularly in mainland China and, specifically, Shanghai.

We provide training and development programs to our employees, and we have trained many of our key engineers and managers for more than a decade. Retention of these key employees is critical to secure our future growth and technology development. To assist in employee retention and recruitment, we offer employee housing in the Lingang region of Shanghai nearby our new research and development and production center.

Environmental

Severe weather events, including earthquakes, fires, floods, heat waves, hurricanes and other environmental disasters, could pose a threat to our manufacturing and research and development activities through physical damage to our operating facilities or equipment or disruption of power supply or telecommunications infrastructure. The frequency and intensity of severe weather events are reportedly increasing throughout the world as part of broader climate changes. Global weather pattern changes may also pose long-term risks of physical impacts to our business. We maintain disaster recovery and business continuity plans that would be implemented to help us recover in the event of severe weather events that interrupt our business. See “Item 1A. Risk Factors—General—Our production facilities could be damaged or disrupted by a natural disaster, war, terrorist attacks or other catastrophic events.”

Concerns about climate change have resulted in various laws and regulations that are intended to limit carbon emissions and address other environmental concerns. In recent years, mainland China, where our production facilities are located, has undertaken comprehensive sustainability initiatives that are requiring companies to meet new environmental standards and deal with higher energy and other production costs. Environmental laws and regulations may impose new or unexpected cost either directly through, for example, higher energy costs or indirectly through increased costs of compliance or of failing to comply with these laws and regulations. These laws and regulations might increase the cost of construction, maintenance and operation of our new research and development center and factory in the Lingang region of Shanghai.

We do not currently expect that existing or pending climate change laws and regulations will be material to our results of operations in the foreseeable future. Climate change could, however, have a direct effect on our customer base of semiconductor fabricators, whose operations typically require copious quantities of power and water and a number of chemicals. Chip fabrication operations often result in significant amounts of wastewater, which can contain a number of harmful contaminants, including antimony, arsenic, hydrofluoric acid and hydrogen peroxide, that historically have resulted in groundwater pollution and related violations of environmental laws. Moreover, water and chemical demands for semiconductor fabrication are expected to increase with the production of more advanced chips at smaller process nodes. As a result, some leading chip fabricators have begun to invest in conservation and treatment technologies for water and chemicals.

We have designed some of our tools to require significantly reduced levels of environmentally harmful chemicals, which helps customers face increased environmental laws and regulations. SAPS and TEBO technologies use environmentally

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friendly dilute chemicals, such as dilute hydrofluoric acid, RCA SC-1 solution, ozonated de-ionized water and functional de-ionized water with dissolved hydrogen. In interconnect and barrier metals applications based on SAPS technology, for example, these chemical solutions take the place of chemicals such as piranha solution, a high-temperature mixture of sulfuric acid and hydrogen peroxide used by conventional wet wafer cleaning processes. Similarly, Tahoe technology delivers high cleaning performance using significantly less sulfuric acid and hydrogen peroxide than is typically consumed by conventional high-temperature single-wafer cleaning tools. For additional information, see “—Our Technology and Product Offerings—Wet Cleaning Equipment for Front End Production Processes.”

Available Information

We are required to file annual, quarterly and current reports, proxy statements and other information with the U.S. Securities and Exchange Commission, or the SEC. The SEC maintains a website at www.sec.gov that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC.

Our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, proxy statements and amendments to those documents filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, or the Exchange Act, are also available free of charge on our website at www.acmr.com as soon as reasonably practicable after such reports are electronically filed with or furnished to the SEC.

Investors should note that we announce material information to our investors and others using filings with the SEC, press releases, public conference calls, webcasts or our website (www.acmr.com), including news and announcements regarding our financial performance, key personnel, our brands and our business strategy. Information that we post on our corporate website could be deemed material to investors. We encourage investors to review the information we post on these channels. We may from time to time update the list of channels we will use to communicate information that could be deemed material and will post information about any such change on www.acmr.com. The information on our website is not, and shall not be deemed to be, a part hereof or incorporated into this or any of our other filings with the SEC.