Core Insights - ACM Research, Inc. has announced significant upgrades to its Ultra C wb cleaning tool, incorporating a patent-pending nitrogen bubbling technique to enhance wet etching uniformity and cleaning performance [1][2]. Group 1: Technology Enhancements - The upgraded Ultra C wb tool features nitrogen (N2) bubbling technology that addresses issues of poor wet etching uniformity and by-product regrowth commonly found in conventional wet bench processes [2]. - The N2 bubbling technique improves the transport efficiency of phosphoric acid and promotes uniformity in temperature, concentration, and flow velocity within the wet etching bath [2]. - This technology is particularly applicable in the manufacturing processes for 3D DRAM, 3D logic, and 500+ layer 3D NAND devices [2]. Group 2: Performance Improvements - The Ultra C wb platform enhances within-wafer and wafer-to-wafer wet etching uniformity by more than 50% compared to conventional batch processes [6]. - The advanced cleaning capabilities of the Ultra C wb platform have demonstrated effective removal of organic residues from special phosphoric acid additives in advanced-node processes [6]. - The upgraded tool is qualified for three layers of advanced-node processes, including stack silicon nitride removal and channel hole polysilicon etch back [6]. Group 3: Proprietary Technology - The nitrogen bubbling technology generates large-size bubbles with good uniformity, with bubble density being precisely controllable [6]. - The N2 bubbling core technology can also be applied to ACM's Ultra C Tahoe platform, addressing future process requirements for customers [6]. Group 4: Market Position - ACM Research, Inc. is a leading supplier of wafer and panel processing solutions for semiconductor and advanced packaging applications, committed to delivering high-performance, cost-effective process solutions [1][7].

Core Viewpoint - ACM Research, Inc. will release its financial results for the second quarter of 2025 on August 6, 2025, before the U.S. market opens, followed by a conference call to discuss the results [1]. Group 1: Earnings Call Details - The earnings call for the second quarter ended June 30, 2025, is scheduled for 8:00 a.m. U.S. Eastern Time on August 6, 2025 [2]. - Participants must complete an online registration process to join the conference call via telephone, which aims to reduce delays due to operator congestion [2][3]. - A live and archived webcast of the conference call will be available on ACM's website [3]. Group 2: Company Overview - ACM develops, manufactures, and sells semiconductor process equipment, including cleaning, electroplating, and wafer-level packaging tools [4]. - The company focuses on delivering customized, high-performance, and cost-effective process solutions to improve productivity and product yield for semiconductor manufacturers [4].

Group 1 - ACM Research, Inc. (ACMR) closed at $28.53, with a +1.97% change from the previous day, outperforming the S&P 500's daily loss of 0.07% [1] - Prior to the latest trading session, ACMR shares had gained 11.83%, surpassing the Computer and Technology sector's gain of 5.58% and the S&P 500's gain of 3.94% [1] Group 2 - ACM Research, Inc. is expected to report an EPS of $0.42, reflecting a decrease of 23.64% from the prior-year quarter, while revenue is anticipated to be $221.04 million, indicating a 9.17% increase compared to the year-ago quarter [2] - For the full year, earnings are projected at $2 per share and revenue at $912.29 million, representing changes of -11.5% and +16.64%, respectively, from the prior year [3] Group 3 - Recent changes to analyst estimates for ACM Research, Inc. suggest a favorable outlook on the business health and profitability, as these revisions typically reflect short-term business trends [4] - The Zacks Rank system, which evaluates estimated changes, currently ranks ACM Research, Inc. at 3 (Hold), with the Zacks Consensus EPS estimate remaining unchanged over the last 30 days [6] Group 4 - ACM Research, Inc. is trading with a Forward P/E ratio of 13.99, which aligns with the industry average Forward P/E of 13.99 [7] - The Semiconductor Equipment - Material Services industry, part of the Computer and Technology sector, holds a Zacks Industry Rank of 91, placing it in the top 37% of over 250 industries [7][8]

Group 1 - ACM Research (NASDAQ: ACMR) is strategically positioned in the semiconductor capital equipment sector, generating over 99% of its revenue from China in 2024 [1] - The company specializes in advanced wafer-cleaning and electroplating technologies, which are critical for semiconductor manufacturing [1] Group 2 - The article highlights the growing importance of companies like ACMR in the semiconductor industry, particularly in the context of increasing demand for advanced manufacturing processes [1]

Investment Rating - The report maintains an "Overweight" (OW) rating on Naura, AMEC, and ACMR, with revised target prices reflecting positive outlooks for these companies [6][37][55]. Core Insights - The outlook for China's wafer fab equipment (WFE) market remains strong, driven by better-than-expected demand from logic foundries and ongoing localization efforts [1][2]. - The total addressable market (TAM) forecast for China WFE has been raised from $36.6 billion (down 12% year-over-year) to $40.3 billion (down 3% year-over-year) for 2025, and from $35.1 billion (down 4% year-over-year) to $36.2 billion (down 10% year-over-year) for 2026 [3][9]. - China is expected to continue gaining market share in WFE, with approximately 25% of foundry capital expenditures allocated to domestic WFE in 2025, up from 20% in 2024 [4]. Market Demand and Supply Dynamics - Strong demand for logic foundries in China is anticipated in the second half of 2025, with expectations of increased spending related to AI applications [2][9]. - Despite concerns regarding oversupply in mature nodes, the report suggests that government initiatives may prioritize localization over economic rationale in the second half of 2025 [5]. - The report indicates that imports of semiconductor equipment into China may recover starting in July 2025, following a decline in early 2025 [21]. Company-Specific Developments - Naura has expanded its product portfolio, launching new ion implant equipment, and is expected to benefit from the increasing localization of semiconductor manufacturing in China [4][37]. - The report highlights that leading Chinese WFE players are likely to capture larger shares of the market due to their expanding product pipelines and advanced R&D capabilities [6][37]. - Naura's revenue growth is projected to be supported by increased capital expenditures from logic foundry and memory customers in 2025 [37][51]. Financial Projections - The report revises Naura's earnings estimates upward for 2025-2027, reflecting strong demand and market share gains [51][52]. - Naura's net sales are projected to increase from Rmb 41.88 billion in 2025 to Rmb 61.42 billion by 2027, with corresponding net income growth [63][66].

Core Viewpoint - ACM Research, Inc. is experiencing a positive stock performance, with a recent closing price of $26.51, reflecting a 1.77% increase from the previous day, outperforming major indices like the S&P 500, Dow, and Nasdaq [1] Financial Performance - The upcoming earnings report for ACM Research, Inc. is projected to show earnings of $0.42 per share, representing a year-over-year decline of 23.64% [2] - Revenue is expected to be $221.04 million, indicating a 9.17% growth compared to the same quarter last year [2] - For the annual period, earnings are anticipated to be $2 per share, with revenue projected at $912.29 million, reflecting shifts of -11.5% and +16.64% respectively from the previous year [3] Analyst Estimates - Recent changes in analyst estimates for ACM Research, Inc. indicate evolving short-term business trends, with upward revisions suggesting analysts' positive outlook on the company's operations and profit generation [4] - The Zacks Rank system, which incorporates these estimate changes, currently assigns ACM Research, Inc. a rank of 4 (Sell) [6] Valuation Metrics - ACM Research, Inc. is trading at a Forward P/E ratio of 13.02, which aligns with the industry average [7] - The Semiconductor Equipment - Material Services industry, to which ACM Research belongs, ranks in the bottom 5% of all industries, with a current Zacks Industry Rank of 236 [7][8]

Financial Performance - ACM Research achieved revenue of $7821 million in FY24, a 40% increase year-over-year from $5577 million in FY23[14, 44] - The company's non-GAAP gross profit for 2024 was $3939 million, representing a 504% gross margin, compared to $2776 million and 498% in 2023[48] - Non-GAAP operating income reached $2006 million in 2024, a 628% increase year-over-year, representing 256% of revenue[33] - Diluted non-GAAP earnings per share (EPS) increased to $226 in 2024, compared to $163 in 2023[33, 46] - Q4 2024 revenue was $2235 million, a 31% increase compared to $1703 million in Q4 2023[33, 35] Product Mix and Market - Cleaning products accounted for 74% of the company's revenue in FY24[14] - ECP, Furnace & Other products contributed 19% to the revenue in FY24[14] - Advanced Packaging & Other products made up 7% of the revenue in FY24[14] - ACM Research estimates its current product portfolio addresses a $18 billion Serviceable Available Market (SAM)[21, 27]

Company Performance - ACM Research, Inc. (ACMR) stock decreased by 3.06% to $24.42, underperforming the S&P 500's daily loss of 0.22% [1] - Over the past month, the company's stock has increased by 11.76%, outperforming the Computer and Technology sector's gain of 2.98% and the S&P 500's gain of 0.45% [1] Earnings Projections - The upcoming EPS for ACM Research is projected at $0.42, indicating a 23.64% decline compared to the same quarter last year [2] - Revenue is estimated to be $221.04 million, reflecting a 9.17% increase from the prior-year quarter [2] Full Year Estimates - For the full year, earnings are projected at $2 per share, representing an 11.5% decrease from the previous year, while revenue is expected to reach $912.29 million, a 16.64% increase [3] - Recent changes in analyst estimates are crucial as they indicate near-term business trends and analyst sentiment regarding profitability [3] Valuation Metrics - ACM Research is currently trading at a Forward P/E ratio of 12.6, which aligns with the industry average Forward P/E of 12.6 [6] - The Semiconductor Equipment - Material Services industry, part of the Computer and Technology sector, holds a Zacks Industry Rank of 236, placing it in the bottom 5% of over 250 industries [6]

Group 1 - ACM Research, Inc. (ACMR) stock decreased by 5.27% to $24.37, underperforming the S&P 500's daily loss of 1.13% [1] - Over the past month, ACMR's stock has increased by 5.73%, which is lower than the Computer and Technology sector's gain of 7.36% and higher than the S&P 500's gain of 3.55% [1] Group 2 - The upcoming earnings disclosure for ACMR is anticipated, with a forecasted EPS of $0.42, reflecting a 23.64% decline from the same quarter last year [2] - The Zacks Consensus Estimate projects revenue of $221.04 million, indicating a 9.17% increase from the previous year [2] Group 3 - For the entire fiscal year, earnings are projected at $2 per share, representing an 11.5% decrease, while revenue is expected to be $912.29 million, showing a 16.64% increase from the prior year [3] - Recent analyst estimate revisions suggest a positive outlook for ACMR's business [3] Group 4 - The Zacks Rank system, which evaluates estimate changes, indicates ACMR currently holds a Zacks Rank of 4 (Sell) [5] - The average Forward P/E ratio for ACMR is 12.86, aligning with the industry average, suggesting no significant deviation in valuation [6] Group 5 - The Semiconductor Equipment - Material Services industry, which includes ACMR, ranks in the bottom 5% of all industries according to the Zacks Industry Rank [6][7]

Core Viewpoint - ACM Research, Inc. is actively participating in the 15th Annual ROTH London Conference, indicating its commitment to engaging with institutional investors and showcasing its semiconductor processing solutions [1][2]. Company Overview - ACM Research, Inc. specializes in developing, manufacturing, and selling semiconductor process equipment, which includes cleaning, electroplating, stress-free polishing, vertical furnace processes, track, PECVD, and wafer- and panel-level packaging tools [3]. - The company aims to provide customized, high-performance, and cost-effective process solutions that enhance productivity and product yield for semiconductor manufacturers [3].