ACM Research, Inc.

Overview

ACM Research, Inc. develops, manufactures, and sells semiconductor equipment for wafer-fabrication and advanced-packaging processes. Its product portfolio includes wet-cleaning, electrochemical-plating, furnace, PECVD, track, polishing, and wafer- and panel-level packaging systems, serving chipmakers in foundry, logic, memory, and related markets [1][2]. The company describes its aim as providing customized, high-performance and sustainable solutions to improve productivity, efficiency, and yield while keeping cost of ownership low [3].

Founded in California in 1998, ACM Research has its principal operations in mainland China and serves customers internationally, with sales and service coverage that includes North America, Western Europe, and Southeast Asia [4]+2. Revenue was $901.3 million in 2025, and the company reported 2,513 full-time-equivalent employees at year-end, most located in mainland China and Taiwan [7][8]. [1]+7

Products & services

ACM Research’s products include wafer-cleaning systems, electrochemical plating (ECP) equipment, furnace and PECVD platforms, track systems, and tools for advanced packaging. Its single-wafer cleaning technologies include SAPS, which uses alternating-phase megasonic waves to distribute cleaning energy, and TEBO, which is designed to clean patterned features without damage; ACM reports TEBO capability on structures with aspect ratios up to 60:1. The Tahoe system is designed for high cleaning performance while using substantially less sulfuric acid and hydrogen peroxide than conventional high-temperature single-wafer cleaning.[9]+3

ACM’s Ultra ECP ap targets back-end packaging and uniform metal deposition near the wafer notch, while Ultra ECP map is intended for front-end copper interconnects and gap-fill applications. Other named products include the Ultra Fn vertical furnace, with a proprietary quartz chamber rated up to 1,250°C; Ultra Pmax PECVD, designed for film uniformity, stress and particle performance; and a 300-mm Ultra Track system. Advanced-packaging products include Ultra C Developer, PR Megasonic-Assisted Stripper, Scrubber, Thin Wafer Scrubber, Wet Etcher and Coater. The Coater is fully automated and includes chamber auto-clean features intended to reduce maintenance cleaning and particle generation.[13]+5

Services include pre- and post-sale technical support from field application engineers, including assistance with fab planning, production-line qualification and fab expansion. ACM does not separately break out service-only revenue in the cited revenue categories.[19][7] In 2025, revenue was reported as $625.964 million from single-wafer cleaning, Tahoe and semi-critical cleaning (69.5% of total); $199.551 million from ECP, furnace and other technologies (22.1%); and $75.794 million from advanced packaging excluding ECP, services and spares (8.4%). For the six months ended June 30, 2026, the corresponding categories were $255.460 million (48.7%), $212.785 million (40.6%) and $55.937 million (10.7%), respectively. Percentages are calculated from reported category and total revenue.[7][20] [9]+12

Geographic presence

ACM Research is headquartered in Fremont, California, while its principal operating subsidiary, ACM Research (Shanghai), is based in Shanghai, mainland China. Its reported facilities include a five-building R&D and Production Center in Shanghai’s Lingang region with more than 1,485,000 sq. ft. of floor space, and over 200,000 sq. ft. of leased space in Shanghai’s Chuansha area for R&D, production and warehousing. The company also reports facilities supporting sales, service, R&D or production in Beijing, Chengdu, Jiangyin and Wuxi in mainland China, and Jinwi, Gwangju, Baekam and Seongnam in South Korea. Its U.S. sales and services team is based at a leased facility in Hillsboro, Oregon.[21]+4

Mainland China is the explicitly identified dominant customer-revenue geography: the 2025 Form 10-K states that substantially all revenue in 2025 and 2024 came from customers there, without giving an exact percentage or country-level revenue breakdown.[26] The latest available filing, for the quarter ended June 30, 2026, lists subsidiaries and functions across mainland China, South Korea, Hong Kong, the United States, Singapore and the Cayman Islands. These include sales and service entities in China and South Korea, a South Korean entity with R&D and production functions, a Singapore sales and business-development subsidiary, and a Hong Kong trading subsidiary.[27]

The company reported 2,513 employees as of December 31, 2025; the filing does not provide a geographic breakdown of employees.[26] [21]+6

Business segments

ACM Research reports one reportable operating segment: its semiconductor-capital-equipment activities. The company identifies ACM Research and ACM Shanghai as operating segments but aggregates them into one reportable segment; therefore, the product categories below are revenue classifications, not separate reportable operating segments.[28]+2

For the six months ended June 30, 2026, revenue was approximately 48.7% from single-wafer, Tahoe and semi-critical cleaning equipment; 40.6% from ECP (front-end and packaging), furnace and other technologies; and 10.7% from advanced packaging excluding ECP, services and spares.[20] In FY2025, the corresponding categories contributed approximately 69.5%, 22.1% and 8.4% of revenue, respectively. The cleaning category covers wafer-cleaning applications, including Tahoe and semi-critical cleaning; ECP technologies address front-end interconnect and packaging plating, alongside furnace and other platforms; and the advanced-packaging category includes equipment such as coaters, developers, strippers, scrubbers, wet etchers and copper-plating systems.[7]+5 [28]+9

Company history

ACM Research was incorporated in California in 1998, with founder David H. Wang serving as its chief executive officer, president and director from January of that year. The company initially developed semiconductor tools for ultra-low-K and copper processes, including copper-polishing systems.[35][36]

The company established an operational center in Shanghai in 2006 and shifted its development focus toward front-end, single-wafer wet cleaning in 2007. It introduced SAPS megasonic cleaning in 2009 and TEBO cleaning in 2016. That year it reincorporated in Delaware; its shares began trading on Nasdaq in November 2017.[37]+2

From 2018 to 2020, ACM expanded beyond cleaning with products including the Ultra-C Tahoe cleaning system, Ultra ECP plating systems, the Ultra SFP ap advanced-packaging polishing tool and Ultra Furnace. In 2021, its Shanghai subsidiary completed an IPO and began trading on the STAR Market, while ACM Research retained majority ownership.[40]+5

ACM opened a facility in Hillsboro, Oregon, in November 2023, adding cleanroom and demonstration capacity. In 2025, it reported product milestones in photoresist hardening and lithography track systems; in 2026, it presented a portfolio structure grouping its products into eight series.[46]+2 [35]+13

Sources

• ACM Research, Inc. — Full financial report (2025 Y)
  31 citations

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• ACM Research, Inc. — Full financial report (2026 Q 2)
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• ACM Research, Inc. — Full financial report (2023 Y)
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• ACM Research, Inc. — Full financial report (2019 Y)[43]
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