ACM Research : Record of Investor Relations Activity in March 2022 - Form 8-K

Record of Investor Relations Activity in March 2022

Category of investor relations activity		✓ Specific object research ✓ Analyst meeting ☐ Media interview ☐ Performance briefing ☐ Press conference ☐ Roadshow ✓ Site visit ✓ Others (Investor presentations)
Time		March 2022
Place		Online and Teleconference
Receptionists of the listed company		Chairman: HUI WANG Director and General Manager: JIAN WANG Person in Charge of Financial Matters: LISA YI LU FENG Board Secretary: MINGZHU LUO
Introduction to main contents of investor relations activity		I．Company Profile; Brief Reading of 2021 Annual Report; Specific Explanation of Relevant Events of the Controlling Shareholder ACMR II.Q&A 1. The shipments of the furnace tube and electroplating equipment of the Company registered a notable increase in 2021. What do you think about the growth of these two kinds of equipment in 2022? A: In February 2022, the Company announced that it received orders for 21 sets of electroplating copper equipment, including 10 sets of front-end ECP map equipment, slightly higher than that in 2021, i.e., 1/3. At present, the Company's front-end plating copper equipment is growing at a relatively high speed, and is expected to achieve a higher growth rate throughout 2022. The furnace tube equipment had low sales in 2021, mainly 7 sets of demo equipment, and their revenue is expected to be recognized this year. Shipments of demo equipment, if any, may be delivered on repeated orders this year. In addition, the Company plans to launch two kinds of ALD furnace tube equipment this year. It will take one to one and a half years to recognize sales, but ALD equipment is a big growth point and is expected to take an over 1/2 market share.

2. What is the sales volume of single wafer equipment and wet bench equipment among the cleaning equipment sold by the Company in 2021? What do you think about the growth of these two kinds of equipment in 2022? A: The Company did not open the specific sales volume of equipment to the public, and we cannot forecast their specific percentages now, but it's expected that the sales volume of single wafer equipment still represents a larger percentage, while the wet bench equipment will achieve a larger growth rate. 3. The Company announced that it received an order for one set of demo equipment and one set of direct production equipment from an overseas major customer in December last year. How about the verification situation of the overseas major customer now? A: The above-mentioned equipment is being produced. It's expected that the first set of equipment will initiate verification in the first half of 2022, with the verification term being about 6-12 months. 4. The Company delivered some advanced packaging equipment in 2021. Which equipment is delivered? A: In the advanced packaging field, we have gluing, degluing, developing, wet etching and cleaning products for sale, among which, the degluing, etching and cleaning equipment has relatively good sales. We hope that we will also have good performance in gluing and developing equipment, etc. 5. How about the progress of new products to be launched by the Company in the middle of 2022? A: The first type of equipment will be launched in the middle of 2022, and has two potential customers at present; the second type of equipment is expected to be launched at the end of 2022 and has one potential customer at present, and will have more potential customers in future. The research and development for these two types of equipment is going well. Over the past three years, we have laid out the core technology patents for them and have made good preparations for their technology development.

6. What is the attitude of customers towards differentiated technologies? Will customers choose more mature products because they are worried about the technology maturity? A: What customers focus on is the performance improvement the differentiated products can bring to them and whether the differentiated products can help them solve problems. Local Chinese customers have a positive attitude towards new technologies. 7. For personnel structure, are new products developed by a new team or do they share a team with old products? A: At present, the team of cleaning and copper plating equipment has basically been independent, and the team of furnace tube equipment is on course to achieve independence. These two products are still in the transitional stage. They are equipped with independent research and development teams, but they still share some teams with old products, e.g., software development team and electronic control development team. With the increase in shipments of these two products, their personnel will achieve independence. What the Company pursues maximizes the efficiency of staffing. 8. The revenue in 2021 registered a notable increase. Will the research and development expenses rocket up if the revenue in 2022 maintains a growth rate same as 2021? A: The research and development expenses will increase and the global selling expenses may also show an uptick. We prefer to sacrifice a small profit for the long-term interests of the Company, and invest these funds in our medium and long-term growth. Meanwhile, we also target that the Company can deliver good operating profits. In conclusion, we anticipate that the research and development expense ratio will represent around 17% of sales for the year. 9. International customers like SMIC would increase greatly this year. What is the main reason for a slight slowdown in exploration of South Korean customers? A: Hynix's factory expansion in Wuxi has basically completed. Now, the factory expansion plan is focusing on South Korea. We are also intensifying efforts to sell and launch products to South Korea's local market. In addition to cleaning equipment, we are also considering launching the copper plating equipment. As a result, we will focus on the factories based in South Korea after we complete exploring the South Korea customers in China.

10. Have we encountered problems in procurement of core components?Whether the procurement cycle of conventional parts is prolonged?What do you think about the procurement problems of core components or the pressure of guaranteed delivery? A: At present, we have not encountered any problems in procurement of core components. The procurement cycle of some conventional parts (such as plastic pipes) is prolonged, and we are looking for a second and third alternative suppliers. In addition, we have prepared to look for other parts suppliers, including South Korea parts suppliers. We are also exploring domestic suppliers, and will develop some alternative plans in response to long-term uncertainties in future. We will cooperate with suppliers both at home and abroad. 11. What is the main reason for a dramatic decrease in gross profit of advanced packaging wet equipment in 2021? How about 2022? A: The main reason is the market competition. This year, the Company targets its comprehensive gross profit margin of 40%-45% by taking such measures as improving design, increasing the percentage of domestic parts, optimizing material costs and reducing department costs. 12. Some operating cash flows were negative in the Q4 of 2021. How does that reflect changes in inventories and procurement of supply chains in the Q4? A: The reason is that a large amount of capital is used to purchase raw materials. We have prepared raw materials based on planned sales volume for 2022. 13. Is there any business connection between ACMSH of China and ACMR of the U.S.? A: ACMR is the controlling shareholder of ACMSH and holds 82.5% of shares in ACMSH. The Company's business is mainly conducted by ACMSH. ACMR is working to communicate with the accounting firm complying with the requirements of the SEC. This event will not have a direct impact on day-to-day operation of ACMSH. 14. The operation entity and important materials of ACMSH are based in China. If the auditor of ACMR is changed to an accounting firm in the U.S., will Chinese regulatory authorities prohibit transmitting information to the U.S.? A: Among the examples in the market, there are precedents that the accounting firm engaged by the U.S. parent company audits its subsidiary in China. ACMSH engages in semiconductor equipment industry, with its data open and transparent to the world.

15. The regulatory authorities have indicated that they would strengthen communication last night. Has the Company sought to communicate with Chinese regulatory authorities to allow the American accounting firm to audit the Company in China? The controlling shareholder is listed on the U.S. stock market, while ACMSH is listed on the STAR Market. How will this listing structure affect the localization process in the context of production expansion of the domestic wafer plant? A: The Company and the controlling shareholder will actively communicate with each other and cooperate with the CSRC and the SEC. The semiconductor equipment industry is a global industry, so its supply chains, customers and markets are all globalized. This listing structure not only enables the Company's products to serve the domestic market, but also launches domestic excellent technology and equipment to the world and promotes global communication.

Encl.: List of Participants

	Anbang Asset
	Abrdn Private Fund Management
	Allianz Securities Investment Trust Co., Ltd.
	Essence Fund
	Essence Securities Asset Management Co., Ltd.
	Centennial Insurance Asset Management Co., Ltd.
	Baiyi Capital
	Baoying Fund Management Co., Ltd.
	Pinpoint Asset Management Limited
	Power Saijia Investment
	Power Pacific
	CQ Capital Management Co., Ltd.
	Beijing Win Integrity Investment Management Co., Ltd.
	Beijing Eastern Smart Rock Asset Management Co., Ltd.
	Beijing HZPH Private Equity Fund Investment Management Co., Ltd.
	Beijing Hengchang Hongde Asset Management Co., Ltd.
	Beijing Hongcheng Capital Co., Ltd.
	Beijing Suncapital Co., Ltd.
	Beijing JY Capital Management Co., Ltd.
	Beijing Jingxing Asset Management Co., Ltd.
	Kendall Square Capital
	Beijing Life Insurance Co., Ltd.
	Beijing Stony Creek Capital Investment Co., Ltd.
	Beijing Starock Investment Management Co., Ltd.
	Beijing Faithful Value Investment Management Co., Ltd.
	Beijing Yanhang Investment Management Co., Ltd.
	Beijing Yinghui Asset Management Co., Ltd.
	Beijing Zhongcai Longma Capital Investment Co., Ltd.
	BXRF
	BlackRock Fund
	BlackRock Asset
	BlackRock Asset Management North Asia Limited
	APS (Shanghai) Asset Management Co., Ltd.
	Green Court Capital
	BODAO FUND
	Bodu Investment
	Bosera Fund Management Co., Ltd.
	Powerway Investment
	Boyi Investment
	Boyuan Fund
	Bohai Huijin Securities Asset Management Co., Ltd.
	Bohai Life Insurance
	Caitong Fund

	Caitong Securities Asset Management Co., Ltd.
	Ivy Capital
	Dawn Petrel Asset Management
	Chengsheng Investment
	Chengtong Fund Management Co., Ltd.
	Clarity Mind Investment
	Chuangjin Hexin
	Purekind Fund Management Co., Ltd.
	Dacheng Fund Management Co., Ltd.
	Dajia Asset Management Co., Ltd.
	Springs Capital
	Topsperity Securities Asset Management Co., Ltd.
	D. E. Shaw Investment Management
	First Capital Securities Co., Ltd.
	Northeast Securities
	Oriental Alpha Fund Management Co., Ltd.
	Eastmoney Securities
	Orient Securities Company Limited
	China Orient Asset Management Co., Ltd.
	Dongguan Rongguo Investment Management Co., Ltd.
	Donghai Funds
	Donghai Securities Co., Ltd.
	Soochow Asset
	Soochow Securities Co., Ltd.
	Dongxing Securities
	Dongxing Securities (Hong Kong) Asset Management Company Limited
	East Asia Qianhai Securities Company Limited
	Northeast Securities Asset Management
	DH Fund Management Co., Ltd.
	Fang Ying
	Fangyuan Investment Management
	Founder Fubon Fund Management Co., Ltd.
	Founder Securities
	Fengyan Investment Management (Zhejiang Free Trade Zone) Co., Ltd.
	FENGJING FUND
	Fujian Haoshan Asset Management Co., Ltd.
	Fuanda Fund
	Fullgoal Fund Management Co., Ltd.
	Shanghai Gao Yi Asset Management Partnership (L.P.)
	Gopher Asset Management Co., Ltd.
	Green Fund Management Limited ICBC Wealth Management
	ICBC Credit Suisse Asset Management Co., Ltd.
	ICBC Asia

	Granford (Beijing) Capital Management Co., Ltd.
	Granford Capital Management Co., Ltd.
	Everbright Pramerica Fund Management Co., Ltd.
	Everbright Trust
	Sun Life Everbright
	Everbright Securities Company Limited
	Everbright Asset Management
	Everbright Securities Asset Management Co., Ltd.
	Guangdong Fortune Sender Asset Management Co., Ltd.
	Guangdong Haihui Huasheng Securities Investment Fund Management Co., Ltd.
	Guangdong Cherami Sunon Securities Investment Management Co., Ltd.
	Guangdong Spruce Evergreen Fund
	GF FUNG MANAGEMENT
	GF Securities Co., Ltd.
	CGB Wealth Management
	Guangzhou Jinyu Investment Co., Ltd.
	Guofang Capital
	Sealand Securities Co., Ltd.
	Gfund Management Co., Ltd.
	Sinolink Securities Co., Ltd.
	Guojun Asset Management
	China Development Bank Securities Co., Ltd.
	CPIC FUND
	Guolian Securities Asset Management
	China Life AMP Asset Management
	China Life Pension Company Limited
	China Life Asset
	China Life Asset Management
	Guotai Asset Management Co., Ltd.
	Guotai Junan Securities Co., Ltd.
	Guotai Junan Securities Asset Management Co., Ltd.
	UBS SDIC
	Guosen H&S
	Guosen Securities
	Guosen Securities Co., Ltd.
	Guosen Securities (HK)
	Guoyuan Securities Company Limited
	Cathay Securities Investment Trust
	HFT Fund
	Hainan Omnilux Private Equity Fund Management Center (Limited Partnership)
	Hainan Times Win Win Private Fund Management Partnership (Limited Partnership
	Hainan Tuopu Private Equity Fund Management Co., Ltd. - Tuopu Haiyue Growth Private Equity Securities Investment Master Fund
	Hainan Zexing Private Equity Fund Management Co., Ltd.

	Haitong Institutional and International Business Department
	Haitong Research Institute
	Haitong Securities Co., Ltd.
	Haitong Securities Asset Management Co., Ltd.
	Hanhe Capital
	ZEAL ASSET MANAGEMENT
	Hangzhou Honghua Investment Management Co., Ltd.
	Hangzhou Huichuang Investment Management Co., Ltd.
	Hangzhou Jingyou Investment Management Partnership (Limited Partnership)
	Hangzhou Kaisheng Investment Management Co., Ltd.
	Hangzhou Kaiyan Investment Management Company Limited
	Hangzhou Wenyu Investment Management Co., Ltd.
	TRIVEST ADVISORS
	Hexu Zhiyuan Fund Management Co., Ltd.
	Union Asset
	Hezhi Asset
	Hengsheng Qianhai
	Focusbridge Investments Limited Co., Ltd.
	Hengsheng Asset Management
	HGNH International Securities
	Hongshang Asset Management
	Hony Capital
	Hongta Securities Asset Management
	Hongde Fund Management Co., Ltd.
	Hongsheng Asset
	SunCapital
	Hua'an Financial Insurance Asset Management Co., Ltd.
	Sinosafe Assets
	Hwabao WP Fund
	HWABAO TRUST
	Fortune Sg Fund Management Co., Ltd.
	Guizhou Huachuang Securities Broker Co., Ltd.
	Huafu Fund Management Co., Ltd. Huarong Securities
	Huarun Shenguotou Trust Co., Ltd.
	China Resources Yuanda Fund Management Co., Ltd.
	Huashan Capital
	China Merchants Fund Management Co., Ltd.
	Huatai-Pinebridge Fund
	Huatai International Private Equity Fund
	Huatai Securities Co., Ltd.
	Huatai Securities Asset Management Co., Ltd.
	China Wealth Management Co., Ltd.

	China Asset Management Co., Ltd.
	China Everwin Asset Management Co., Ltd.
	Huaxia Wealth Management
	China Future Capital Group Co., Ltd.
	HSBC Jintrust Fund Management Company Limited
	Amundi BOC Wealth Management Co., Ltd.
	Huijin Asset
	China Universal Asset Management Co., Ltd.
	China Universal Asset Management (Hong Kong) Company Limited
	Huisheng Fund Management Co., Ltd.
	Jihua Investment
	Bauer, Canada
	JYAN ASSET MANAGEMENT
	Harvest Wealth Management Co., Ltd.
	Harvest Fund
	Jiaxin Asset Management (Shanghai) Co., Ltd.
	Construction Investment Asset Management
	CCB Life Asset Management Co., Ltd.
	CCB Fund
	China Construction Bank Life Insurance Co., Ltd. Jiangmen Changying Investment Management Co., Ltd.
	Jiangsu Winfast Investment Holding Group Co., Ltd.
	Jiangxi Bide Mingqi Asset Management Co., Ltd.
	BOCOM Wealth Management
	Bank of Communications Schroder Fund Management
	Golden Eagle Asset Management Co., Ltd.
	Jinxinyuan (Shanghai) Investment Management Co., Ltd.
	JINGAN ASSET MANAGEMENT
	Greenwoods Asset Management Co., Ltd.
	Invesco Great Wall Fund
	JD CAPITAL
	Nine Thai Fund Management Co., Ltd.
	Jiupeng Investment Management Co., Ltd.
	Julu Investment
	GR Asset
	JM CAPITAL
	KF Fund
	Kaifuli Capital
	V. Stone Fund Co., Ltd.
	Kaisibo Fund
	LAKEFRONT
	Smilestone Asset
	LIZHEN CAPITAL
	Ledger Capital

	Liaoning Huabang Investment Co., Ltd.
	Linghui Strategic Investment
	Lingren Asset
	EVERLEAD CAPITAL
	Neuberger Berman
	Minsheng Royal Fund
	Minsheng Tonghui Asset Management
	China Minsheng Trust
	Mingyu Asset
	River Fund
	Mingshi Partner Fund
	Morgan Stanley Huaxin Funds
	Southern Asset Management Co., Ltd.
	Nanhua Fund Co., Ltd. Nanjing Securities Co., Ltd.
	Bank of Nanjing Financial Management
	Ningbo Huanfang Quantitative Investment Management Partnership (Limited Partnership)-SH
	ABC-CA Fund
	ABC Life Insurance
	Lion Fund
	Panjing Investment
	PH CAPITAL
	Penghua Fund Management Co., Ltd.
	PingAn Dahua
	PINGAN FUND
	Industry Research Center of Electronic Information and Intelligent Manufacturing Finance Division of PingAn Bank PingAn Securities
	Ping'an Innovation Capital Co., Ltd.
	Pingan Asset Management Co., Ltd.
	XA SPDB Investment Managers Co., Ltd.
	CloudAlpha Capital Management Limited
	Qianhe Capital
	Qianhai Chengshi Capital for Lianfeng Private Equity Fund
	First Seafront Fund
	Qianhai Alliance
	Qianhai Life Insurance Co., Ltd.
	Qingdao Xingyuan Investment Management Co., Ltd.
	Qingdao AVIC Saiwei Investment Co., Ltd.
	Qingfund Asset
	Chaser Asset Management
	Qunyi Securities Investment Trust Co., Ltd.
	China Life Pension
	China Life Asset Management

	REN BRIDGE
	Shanghai Richen Asset Management Co., Ltd.
	Rongtong Fund Management Co., Ltd.
	WINFASAT Investment
	UBS Asset Management (China) Co., Ltd.
	Rising Fund Management Co., Ltd.
	Royal Investment Management
	Ruiyi Investment
	Foresight Fund
	CDH Investments
	Cephei Capital Management (Hong Kong) Limited
	Runze Capital
	Sumitomo Mitsui DS Asset Management Limited
	Shanhe Investment
	Shanxi Securities
	Shanghai Baihang Investment Co., Ltd.
	Shanghai Baoyin Investment Consulting Co., Ltd.
	Shanghai Zen Dragon Capital Management Co., Ltd.
	Shanghai Zen Dragon Capital Management Co., Ltd.
	Shanghai Chensheng Assets Management Co., Ltd.
	Shanghai CRASSETS Investment Management Co., Ltd.
	Shanghai Cheng'an Asset Management Co., Ltd.
	Shanghai Fangyu Investment
	Perseverance Asset Management (Limited Partnership)
	Shanghai Gongpin Asset Management Co., Ltd.
	Shanghai International Trust Co., Ltd.
	Shanghai Hantan Capital Management Co., Ltd.
	Shanghai HeXi Youfang Investing Co., Ltd.
	Shanghai Trend Capital Management Co., Ltd.
	Shanghai Chaos Investment Group Co., Ltd.
	Shanghai Jinen Investment Co., Ltd.
	Shanghai Genius Investment Management Co., Ltd.
	Shanghai Greenwoods Asset Management Co., Ltd.
	Shanghai Jingling Investment
	Shanghai Jiuyin Investment
	Shanghai Jiupeng Asset Management Center (Limited Partnership)
	Shanghai Military Civil Integration Industry Equity Investment Fund
	Shanghai KS Equity Investment Fund Management Co., Ltd. - KSZG Private Securities Investment Fund
	Shanghai Liuren Asset Management Co., Ltd.
	Shanghai Mingyu Asset Management Co., Ltd.
	Shanghai Ningquan Asset Management Co., Ltd.
	Shanghai Panjing Investment Management Center (Limited Partnership)
	Shanghai Panyao Asset Management Co., Ltd.

	Shanghai Pudong Development Bank Co., Ltd.
	Shanghai Qinmu Asset Management Partnership (Limited Partnership)
	Shanghai Autumn Light Asset Management Co., Ltd.
	Shanghai Quanxi Investment Management Co., Ltd.
	Shanghai Senjin Investment Management Co., Ltd.
	SWS Research
	SWS RESEARCH CO., LTD
	Shanghai Sharewin Equity Fund Management Co., Ltd.
	Shanghai Megatrust Investment Management Co., Ltd.
	Shanghai T.Y.D. Investment Management Co., Ltd.
	Shanghai Tongben Investment Management Center (Limited Partnership)
	Shanghai Sunsource Investment Management Co., Ltd.
	Shanghai Tongxiao Investment Development Center (Limited Partnership)
	Shanghai Wosheng Asset Management Co., Ltd.
	Shanghai Xitai Investment Management Co., Ltd.
	Shanghai Xianrenzhang Asset Management Partnership (Limited Partnership)
	Shanghai Xinke Investment Management Co., Ltd.
	Shanghai Yanniu Investment Management Co., Ltd.
	Shanghai YiDe Assets Management Co., Ltd.
	Shanghai Yi Zheng Lang Investment Management Co., Ltd.
	Shanghai Yijinghui Asset Management Co., Ltd.
	Shanghai Silver Leaf Investment Co., Ltd.
	Shanghai Yude Capital Management Center (Limited Partnership)
	Shanghai Zhaowan Asset Management Co., Ltd.
	Shanghai Zhihe Investment Management Co., Ltd.
	Shanghai China Capital Investment Co., Ltd.
	Shanghai Zige Investment Management Co., Ltd.
	China International Fund Management Co., Ltd.
	BOSC ASSET
	Shenwan Hongyuan Securities
	Shenwan Hongyuan Asset Management
	Shenzhen Dahao Holding Co., Ltd.
	Rising Jinbo Investment Management Co., Ltd.
	KingTower Asset Management
	Eternale Assets Management Co., Ltd.
	Shenzhen Qianhai Guhe Asset Management Co., Ltd.
	ShenZhen QianHai WuYou Equity Investment Fund Management Co., Ltd.
	Shenzhen Qianhai Yunxi Fund Management Co. Ltd.
	Shenzhen Qingshuiyuan Investment Management Co., Ltd.
	Shenzhen Red Pomegranate Investment Management Co., Ltd.
	Shenzhen Jinyou Chuangzhi Asset Management Co., Ltd.
	Shenzhen JM Capital Co., Ltd.
	Shenzhen Kaifeng Investment Management Co., Ltd.
	LEADINGHORSE CAPITAL MANAGEMENT CO., LTD.

	Shenzhen Mingda Capital Management Co., Ltd.
	Pingrock Assets Management Limited
	Shenzhen Qianhai Dengcheng Asset Management Co., Ltd.
	Shenzhen Shangcheng Asset Management Co., Ltd.
	Shenzhen Taishi Investment Management Co., Ltd.
	Shenzhen Weide Investment Management Co., Ltd.
	Batach-Sophia Partners Asset Management Co. Ltd.
	Shenzhen Wangzheng Asset Management Co., Ltd.
	Shenzhen Wukong Investment Management Co., Ltd.
	Shenzhen Yuanwang Asset
	Shenzhen Zhaotu Investment
	Shenzhen Zhengfeng Asset Management Co., Ltd.
	Shen Zhi Asset
	Sino Life Asset Management Co., Ltd.
	Sensegain Asset Management
	Shibei Investment Management (Beijing) Co., Ltd.
	Mega Trust
	Investment Department of Century Securities
	Private Equity Gongchang Siyuan No. 1 Securities Investment Fund
	Suzhou Longyuan Investment Management Co., Ltd.
	China Pacific Asset Insurance Company
	Tiapin Fund
	CIPC Asset Management
	China Pacific Asset Management Co., Ltd.
	Taiping Pension
	Taiping Asset Management Co., Ltd.
	Manualife Teda
	Taikang Pension Insurance Co., Ltd.
	Taikang Asset Management (Hong Kong) Co., Ltd.
	Taikang Asset Management Co., Ltd.
	Taixin Fund
	Tanyi
	Tiancheng Holding
	Tianchong Capital Management Co., Ltd.
	TIANFENG SECURITIES CO., LTD.
	Tianhong Innovation Assets Management Co., Ltd.
	Tianhui Investment
	China Nature Asset Management Co., Ltd.
	Tongben Investment
	Tongjiao Investment
	Wanjia Asset
	Wangye Enterprise
	Upright Asset
	Wellington Investment Management International Limited

	Western Leadbank Fund Management Company Limited
	Western Securities
	Tibet Dongcai Fund Management Co., Ltd.
	Tibet Trust
	Tibet Yuancheng Investment Management Co., Ltd.
	Xitai Investment
	Xiniu Investment Management (Beijing) Co., Ltd.
	U Capital
	HSBC Global Asset Management (Hong Kong) Limited
	Core Pacific - Yamaichi
	Xiaohaitun Investment Co., Ltd.
	SUNON Investment Management co., Ltd.
	New China Fund Management Co., Ltd.
	New China Asset Management (Hong Kong) Ltd.
	New China Asset Management
	New Power Capital Investment Co., Ltd.
	Xinyuan Fund Management Co., Ltd.
	Xincheng Fund
	Xinda Aoyin Fund
	Xinda Securities
	Cornerstone
	Xinghe Fund Management Co., Ltd.
	Industrial Fund Management Co., Ltd.
	Industrial Bank Co., Ltd.
	Industrial Bank Co., Ltd. Wealth Management Subsidiary
	Industrial Securities Co., Ltd.
	CIB Wealth Management
	Xingyin Capital Co., Ltd.
	Industrial Securities International (Asset Management)
	Industrial Securities Asset Management Co., Ltd.
	Symbol Investment
	Xunchang Investment
	Fine Jade Capital
	Asia-Pacific Property & Casualty Insurance
	Sunlight Asset Management Co., Ltd.
	Nomura Overseas Investment Fund Management (Shanghai) Co., Ltd.
	Nomura Asset Investment Shanghai
	E Fund
	Yi Zheng Lang Investment
	Yimin Fund Management Co., Ltd.
	Galaxy Asset Management Co., Ltd.
	Yinhua Fund Management Co., Ltd.
	Ginkgo Clobal
	Yingda Insurance Asset Management Co., Ltd.

	Yingda Securities
	Yingda Assets
	Infore Capital
	Yongan Guofu Asset Management Co., Ltd.
	Maxwealth Fund Management Company Limited
	Yougu Asset Management (Shenzhen) Co., Ltd.
	Yourong Asset
	AIA Asset Management
	Yujin Investment
	Yude Capital
	Yuanhao investment
	Point Asset
	Yongfeng Fund Management Co., Ltd.
	Yuancheng Investment
	Longrising Asset
	Greatwall Fund
	Greatwall Life
	Changjian Investment
	Changjiang Machinery
	Changjiang Pension Insurance
	Changjiang Securities
	Changjiang Securities (Shanghai) Asset Management Co., Ltd.
	Changsheng Fund Management Co., Ltd.
	Changxin Fund
	China Merchants Fund Management Co., Ltd.
	China Merchants Securities Co., Ltd.
	China Merchants Bank Wealth Management Co., Ltd.
	Zhejiang Jiuzhang Asset Management Co., Ltd.
	Zhejiang Kaidu Investment Management Co., Ltd.
	Zhejiang Yingrui Investment Management Co., Ltd.
	Zhejiang Zheshang Securities Asset Management Co., Ltd.
	Zhejiang Zhognwei Asset Management Co., Ltd.
	Zheshang Fund
	Securities Investment Department of Zheshang Securities
	Loyal Valley Capital
	Zhengyi Asset
	Trustbridge Capital
	Zhicheng Haiwei Private Equity Fund
	Zhongdianke Investment Holding Co., Ltd.
	China International Capital Corporation Limited
	China Minsheng Bank
	China Life Pension Company Limited
	China Life Asset Management Company Limited
	Bank of China

	Zhonghai Fund Management Co., Ltd.
	AVIC Fund Management Co., Ltd.
	AVIC Securities Co., Ltd.
	China Unified Insurance
	Zhonghuan Investment
	Bank of Beijing Scotiabank Asset Management Co., Ltd.
	China Kewo Soil Fund Management Co., Ltd.
	Zhong Ou Fund
	Zhongrong Fund
	Zhongrong Fund Management Co., Ltd.
	Zhognrong Trust - Rosefinch 12
	ZHONGTAI SECURITIES
	Zhongtai Asset Management
	Zhongtian Securities Co., Ltd.
	China Fortune-Tech Equity Investment Management (Shanghai) Co., Ltd.
	CITIC-PRUDENTIAL Fund Management Company Ltd.
	CITICPE
	China Securities Co., Ltd.
	CITIC Futures
	CITIC Securities Co., Ltd.
	GENERALI CHINA
	BOC International
	BOC International Asset Management
	Bank of China Investment Management
	BOC Samsung Life Insurance Co., Ltd.
	China Post and Capital Fund Management Co., Ltd.
	China Post Fund Management Co., Ltd.
	China Re Asset
	China Re Asset (Hong Kong)
	China Bond Insurance Co., Ltd.
	Chongqing Trust
	Chongyang Investment
	Chongyang Investment Co., Ltd.
	Rosefinch Fund Management Co., Ltd.
	APS ASSET MANAGEMENT PTE LTD
	Balance Investment Corp
	BRILLIANCE - BRILLIANT PARTNERS FUND LP
	CITIC SECURITIES COMPANY LIMITED
	Coreview Capital
	CSOP Asset Management Limited
	Discovering Investment
	EARNEST Partners
	Elephas Investment
	EverestGrowth

	Green Court Capital
	GreenCourtCapital
	GREENWOODS ASSET
	JK Capital Management Ltd.
	JpMorgan Asset Management (China) Limited
	LyGH
	MatthewsAisia
	Neuberger Berman Singapore Pte.Limited
	Nomura Securities
	Oxbow Capital
	PinPoint Group
	Power Corporation of Canada
	Power Pacific Coporation Limited
	Prime capital
	Prudence Investment Management (HK) Ltd
	RS
	Schroders
	Strategic Vision Investment
	Sumitomo Group
	SVI Private Fund
	TAIKANG ASSET MANAGEMENT (HONG KONG) COMPANY LIMITED
	Tiger Pacific Capital
	TIGER PACIFIC CAPITAL, LP
	UBS
	Yuanhao Greater China Fund
	ZY Investment

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The following information is provided in connection with the furnishing of the above Record of March 2022 Investor Relation Activity of ACM Research (Shanghai), Inc. (the "Record") pursuant to the Current Report on Form 8-K reporting requirements of ACM Research, Inc.:

Forward-Looking Statements

Information presented in the Record includes forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements contained in the Record that do not relate to matters of historical fact should be considered forward-looking statements. Forward-looking statements are based on ACMSH management's current expectations and beliefs, and involve a number of risks and uncertainties that are difficult to predict and that could cause actual results to differ materially from those stated or implied by the forward-looking statements. Those risks and uncertainties include, but are not limited to, the following, any of which could be exacerbated even further by the continuing COVID-19 outbreak in China and globally: anticipated customer orders or identified market opportunities may not grow or develop as anticipated; customer orders already received may be postponed or canceled; ACMSH may be unable to obtain the qualification and acceptance of its delivered tools when anticipated or at all, which would delay or preclude ACMSH's recognition of revenue from the sale of those tools; suppliers may not be able to meet ACMSH's demands on a timely basis; ACMSH's technologies and tools may not gain market acceptance; ACMSH may be unable to compete effectively by, among other things, enhancing its existing tools, adding additional production capacity and engaging additional major customers; ACMSH may incur significant expenses long before it can recognize revenue from new products, if at all, due to the costs and length of research, development, manufacturing and customer evaluation process cycles; volatile global economic, market, industry and other conditions could result in sharply lower demand for products containing semiconductors and for ACMSH's products and in disruption of capital and credit markets; ACMS's failure to successfully manage its operations, including its inability to hire, train, integrate and manage additional qualified engineers for research and development activities; and trade regulations, currency fluctuations, political instability and war may materially adversely affect ACMSH due to its substantial non-U.S. customer and supplier base and its substantial non-U.S. manufacturing operations. Because forward-looking statements involve risks and uncertainties, actual results and events may differ materially from results and events currently expected by ACMSH. ACMSH undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in its expectations with regard to these forward-looking statements or the occurrence of unanticipated events.