ACM Research Responds to Issuance of Inaccurate Research Report

Rhea-AI Summary

ACM Research (NASDAQ: ACMR) has responded to a report by J Capital Research USA LLC, which it claims contains numerous inaccuracies about its business operations, including errors related to revenue and gross margins. The company plans to address these misstatements in detail during its upcoming earnings call in early November 2020, when it will also release third-quarter financial results. Investors are encouraged to review ACM’s public filings with the SEC for further insights.

Positive

• ACM plans to address inaccuracies in the J Capital report during its upcoming earnings call.

Negative

• The report by J Capital contains multiple misstatements regarding ACM's revenue and operations.

FREMONT, Calif., Oct. 08, 2020 (GLOBE NEWSWIRE) -- ACM Research, Inc. (“ACM”) (NASDAQ: ACMR) responded today to the issuance of a report by J Capital Research USA LLC with respect to ACM and its operations. The report contains numerous misstatements of historical facts regarding ACM’s business and operations, including, among others, errors regarding revenue, tool ASPs, gross margins, key suppliers, inventory, and other balance sheet-related items.

ACM expects to release its financial results for the third quarter of 2020 and to host its quarterly earnings conference call in early November 2020. ACM expects to respond in more detail to the report’s misstatements during the upcoming earnings call, when ACM’s current disclosure quiet period will end. Investors and other interested parties should refer to ACM’s public filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and its subsequent Quarterly Reports on Form 10-Q.

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. The company 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.

© ACM Research, Inc. The ACM Research logo is a 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 Research will not assert, to the fullest extent under applicable law, its rights to such trademark.

For investor and media inquiries, please contact:
	In the United States:		The Blueshirt Group
			Ralph Fong
			+1 (415) 489-2195
			ralph@blueshirtgroup.com
	In China:		The Blueshirt Group Asia
			Gary Dvorchak, CFA
			+86 (138) 1079-1480
			gary@blueshirtgroup.com

FAQ

What did ACM Research say about the J Capital report?

ACM Research stated that the J Capital report contains numerous misstatements about its business operations, including errors in revenue and gross margins.

When will ACM Research release its financial results for Q3 2020?

ACM Research expects to release its third-quarter financial results in early November 2020.

How is ACM Research responding to the inaccuracies in the report?

ACM Research plans to respond in more detail to the inaccuracies during its upcoming earnings call after the quiet period ends.