ACM Research (Shanghai) (688082) investor relations material

Executive summary

• Q2 2026 revenue grew 36% year-over-year to CNY 292.9 million, with shipments up 36.4%, driven by strong demand in ECP and advanced packaging products, both up over 150% year-over-year.

• Order book for the first half of 2026 increased 105% year-over-year, with broad-based demand and strong new product momentum.

• Revenue for the first half of 2026 reached RMB 3.72 billion, up 13.87% year-over-year; net profit attributable to shareholders was RMB 988.95 million, up 42.14% year-over-year.

• The company is executing on its strategy to become a multi-product semiconductor equipment supplier, expanding its product portfolio and global market presence, with breakthroughs in high-temperature SPM cleaning and PECVD equipment.

• Operating cash flow improved significantly to RMB 880.65 million from a negative RMB 131.95 million in the prior year.

Financial highlights

• Q2 2026 revenue was CNY 292.9 million, up 36% year-over-year; shipments were CNY 281.5 million, up 36.4%.

• Net profit attributable to shareholders: RMB 988.95 million, up 42.14% year-over-year.

• Gross margin was 46.0% (down from 48.7% year-over-year), above the midpoint of the long-term target range of 42%-48%.

• Operating income was CNY 56.3 million (19.2% margin); net income attributable to shareholders was CNY 44.5 million; EPS was CNY 0.61.

• Cash, equivalents, and time deposits totaled CNY 1.36 billion; net cash was CNY 1.0 billion, including $300 million in the U.S.

Outlook and guidance

• Full-year 2026 revenue guidance raised to CNY 1.125–1.175 billion, implying 25%-30% year-over-year growth.

• Shipment growth is expected to outpace revenue growth for 2026.

• The company expects continued strong demand for semiconductor equipment, driven by AI and advanced manufacturing investments.

• Management anticipates sustained R&D investment and further expansion in both domestic and international markets.

• Long-term revenue target remains CNY 4 billion, with CNY 2.5 billion from China and CNY 1.5 billion from global markets.