Case 8 ACM Research

ACM Research was established in the year 1998 in Silicon Valley. ACM Research Inc. develops wet processing technology and products for the semiconductor industry. In September 2006, ACM expanded its operations into Asia and established the subsidiary ACM Research (Shanghai). ACM Research provides advanced wafer cleaning and wet processing equipment for semiconductor manufacturing. In the year 2003, the company began to design an innovative new single-wafer cleaning equipment which was aimed at the emerging generations of IC chips. The company is headquartered in Fremont, California, and employs more than 875 employees in different regions. Since 2009, ACM has delivered more than 225 wet cleaning and other front-end processing tools. The company focusses on building a strategic portfolio of intellectual property to support its key innovations. The CAGR for revenues during the period 2017–2021 was 63%. The 5-year stock return analysis for ACM research suggests that on average the returns generated by the stock during the 5-year period were 77%.