Company at a glance
Scale
Revenue up 75% since FY2023
Growth prospects
Revenue trajectory FY2023–2025
China competition
Competes with NAURA, SiCarrier, AMEC, Piotech in Deposition / etch — peers listed at sector level.
SubstituteGlobal comparables
Global reference set: Applied Materials, Lam Research, Tokyo Electron.
SCREEN and TEL for single-wafer cleaning reference points.Technical gap
Sector rated substitute vs the frontier.
Obstacles
US export-control exposure
Several ACM China subsidiaries were reported added to the U.S. Entity List in December 2024; exact affected entities should be tracked separately fro…All sourced facts (7)
- Founded: 2005
- Headquarters: Shanghai, China
- Listing status: NASDAQ (affiliate) · ACMR · Parent group ordinary shares
- Founding and structure: ACM Research was founded in 1998; ACM Research Shanghai was established as the China operating platform in 2005.
- Listings: Parent ACM Research trades on Nasdaq as ACMR; ACM Research Shanghai listed on the Shanghai STAR Market as 688082 in 2021.
- Core process area: Single-wafer wet cleaning, electrochemical plating, furnace/thermal tools, and advanced-packaging wet process equipment.
- Export-control status: Several ACM China subsidiaries were reported added to the U.S. Entity List in December 2024; exact affected entities should be tracked separately from ACMR parent disclosure.
About
Equipment supplier model: sells process tools, spares, upgrades, and services to fabs and packaging customers. The entity boundary matters because the parent is Nasdaq-listed ACM Research (ACMR), while ACM Research Shanghai listed separately on the Shanghai STAR Market as 688082 in 2021.
Shanghai · Founded 2005 · Ticker 688082
Why it matters
Cleaning and wet process tools are not glamorous, but they are gating equipment for yield. ACM matters because it tests whether China can substitute a meaningful slice of the fab tool chain without only focusing on lithography.
Where it sits in the stack
Key semiconductor products
- Furnace and thermal-processing equipment, an expansion beyond cleaning into adjacent fab process steps.
- Single-wafer wet cleaning·Ultra C SAPS V
- Batch wet cleaning
- Electroplating·ECP
- Advanced packaging wet/plating
- Stress-free polishing
- Vertical furnace
- Litho track
- PECVD
Financials
688082.SS · Shanghai STAR Market 688082 (parent ACMR on Nasdaq) · via Yahoo Finance ↗
Financial trajectory via annual filings via Yahoo Finance
RMB billionsMarket data refreshed daily; annual figures from exchange filings. Figures in the reporting currency shown on the chart.
Ecosystem
Customers / end markets
- Major US-based international semiconductor manufacturer
- Korea-based semiconductor customers
- Singapore OSAT
- North American technology company
- Reported customer exposure includes leading memory and foundry fabs such as SK hynix, SMIC, Hua Hong, and YMTC; each named customer should be treated as source-specific until validated against filings or customer disclosures
- End markets are indirect: logic, memory, mature-node foundry, compound semiconductor, and advanced packaging capacity where wet process steps are required
Investors / affiliates
- ACM Research Shanghai (688082)
Competitors
- SCREEN Holdings
- Tokyo Electron (TEL)
- Lam Research
- Applied Materials
- DNS (Dainippon Screen) / Sugai Musashino
Global peer set
- SCREEN and TEL for single-wafer cleaning reference points
- Lam Research and Applied Materials for adjacent process-equipment competition and fab-account scale
- SEMES where Korean memory customer exposure matters
Affiliates
- ACM Research (NASDAQ: ACMR)
Competitive position
- China position: Substitute / Near frontier depending on process step. ACM is more credible in wet cleaning and plating than as a full-stack equipment platform.
- Global reference companies: SCREEN, TEL, Lam Research, Applied Materials, SEMES, and DNS/Dainippon Screen depending on the exact cleaning or plating category.
- The right dashboard metric is not generic revenue alone; installed base by fab, process-node qualification, repeat orders, and tool uptime are better strength indicators.
- Proprietary SAPS/TEBO/Smart Megasonix megasonic cleaning is competitive in advanced-node patterned-wafer cleaning; frontier node-level and market-share comparison versus global incumbents is not quantified in fetched sources.
- Domestic substitute in wet cleaning with expanding adjacency into packaging, plating, and deposition; reliance on imported components and cross-border IP flow remain key constraints.
- Global comparables: SCREEN and TEL for single-wafer cleaning reference points.
- Global comparables: Lam Research and Applied Materials for adjacent process-equipment competition and fab-account scale.
- Global comparables: SEMES where Korean memory customer exposure matters.
Recent activity
- 2022—Launch of compound-semiconductor wet-processing tools to broaden portfolio. [via globenewswire.com]
- 2020—Expansion of Ultra C family with semi-critical cleaning systems. [via globenewswire.com]
- Reported—Two Ultra C SAPS V 12-chamber single-wafer cleaning tool orders from a major US-based international semiconductor manufacturer. [via acmrcsh.com.cn]
- Reported—Multiple advanced-packaging equipment orders from global customers, including a Singapore OSAT, a non-mainland-China packaging firm, and a North American tech company. [via acmrcsh.com.cn]
Milestones and signals
- 2005—ACM Research was founded.
- 2026-10-04—Market cap: RMB 143B
- FY2025—Revenue: RMB 6.8B
- FY2025—Net Profit: RMB 1.4B
- Listing—NASDAQ (affiliate) · ACMR · Parent group ordinary shares
What to watch
- Domestic share of wet-cleaning tools by wafer size and process step.
- Repeat production orders at reported fab customers such as SK hynix, SMIC, Hua Hong, and YMTC.
- Divergence between Nasdaq-listed ACMR and STAR-listed ACM Shanghai on revenue, margins, and export-control exposure.
Questions
Last reviewed 2026-07-01Answered questions
Which fabs have ACM tools in volume production, and for which process steps?
On the record: Ultra C SAPS V 12-chamber single-wafer cleaning (Commercial use) at Major US-based international semiconductor manufacturer for Advanced cleaning; node not disclosed and Wafer-level and panel-level advanced packaging equipment (Commercial use) at Singapore OSAT / non-mainland packaging firm / North American tech company for AI/HPC 2.5D/3D and chiplet packaging.
How much revenue and backlog comes from cleaning versus plating, furnace, and packaging tools?
Against SCREEN Holdings, Tokyo Electron, Lam Research, and Applied Materials: Proprietary SAPS/TEBO/Smart Megasonix megasonic cleaning is competitive in advanced-node patterned-wafer cleaning; frontier node-level and market-share comparison versus global incumbents is not quantified in fetched sources.
Open questions
- Which ACM China entities are subject to U.S. restrictions, and what product lines do they touch?