7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-09-30 2022-06-30 2022-03-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 
      
    		                             
      cash flows from operating activities:
    		                             
      net income
    		46,398,000 36,270,000 25,013,000 39,106,000 38,672,000 31,399,000 22,092,000 23,298,000 30,994,000 33,597,000 8,963,000 19,633,000 24,191,000 -7,443,000 11,150,000 7,334,000 5,822,000 9,198,000 10,020,000 496,000 1,963,000 9,089,000 4,311,000 1,857,000 2,286,000 3,853,000 3,215,000 -2,780,000 3,365,000 
      adjustments to reconcile net income to net cash from operating activities
    		                             
      non-cash operating lease cost
    		1,257,000 995,000 1,086,000 967,000 844,000 1,031,000 973,000 941,000                      
      depreciation and amortization
    		4,104,000 3,339,000 3,017,000 2,894,000 2,389,000 2,166,000 2,518,000 2,071,000 2,066,000 2,241,000 1,714,000 2,762,000 129,000 1,213,000 566,000 485,000 546,000 281,000 333,000 229,000 212,000 198,000 197,000 191,000 37,000 207,000 93,000 80,000 88,000 
      realized gain on short-term investments
    		   -1,344,000 -171,000 0 -273,000 -478,000                      
      income from equity method investments
    		   -322,000   520,000 -6,224,000                      
      unrealized (gain) loss on short-term investments
    		-18,656,000                             
      inventory provision
    		4,228,000 1,102,000 4,523,000 -1,062,000 849,000 1,984,000 1,025,000 -4,456,000                      
      benefit from credit losses
    		8,046,000   7,721,000 3,842,000 783,000 1,171,000 1,099,000                      
      deferred income taxes
    		-4,262,000 -5,790,000 -1,661,000 -1,683,000 7,689,000 409,000 -1,129,000 -3,711,000 -5,225,000 1,583,000 -6,294,000 1,313,000 5,804,000 -2,081,000 -1,164,000 -573,000 -2,929,000 547,000 -4,125,000 -542,000 35,000 -756,000       168,000 
      stock-based compensation
    		7,562,000 9,770,000 9,817,000 8,784,000 11,881,000 14,342,000 14,569,000 12,672,000 10,581,000 2,017,000 2,068,000 3,267,000 595,000 1,374,000 1,278,000 1,335,000 1,210,000 1,305,000 2,779,000 855,000 689,000 1,557,000 618,000 744,000 592,000 2,769,000 -2,173,000 2,175,000 -70,000 
      dividends from unconsolidated affiliates
    		   798,000 131,000 0 600,000                       
      others
    		6,000 47,000 1,039,000                           
      net changes in operating assets and liabilities:
    		                             
      accounts receivable
    		-46,841,000 -44,698,000 190,000 -33,886,000 -74,549,000 444,000 -15,286,000 -32,506,000 -47,613,000 -26,178,000 -2,452,000 -41,205,000 -55,351,000 -284,000 -13,856,000 -9,677,000 -4,602,000 5,490,000 899,000 -21,572,000 -6,902,000 -12,797,000 -6,936,000 99,000 6,409,000 1,332,000 -6,872,000 14,000 -10,723,000 
      other receivables
    		-5,193,000 -7,974,000 7,126,000 12,717,000 -4,843,000 -106,000 -11,580,000 -2,650,000 6,689,000 -2,829,000 -5,423,000 -5,526,000 9,110,000 -4,893,000 -2,617,000 1,240,000 -1,850,000 -3,370,000 -241,000 -2,588,000 -683,000 37,000 481,000 669,000 -1,952,000 -343,000 -207,000 1,331,000 502,000 
      inventories
    		-27,743,000 -37,838,000 -15,108,000 18,066,000 -17,312,000 -26,315,000 -38,574,000 -28,139,000 -39,149,000 -16,797,000 -79,942,000 -103,678,000                  
      advances to related parties
    		-245,000                             
      prepaid expenses and other current assets
    		-838,000 -3,297,000 -3,136,000                           
      other long-term assets
    		           -178,000 1,148,000 -119,000 -808,000 -2,960,000 21,000 740,000 -3,000 -872,000 36,000 41,000        
      related parties accounts payable
    		3,496,000                             
      accounts payable
    		29,611,000 31,115,000 -23,372,000 -25,622,000 24,662,000 7,953,000 -5,553,000 3,262,000 29,118,000 -3,287,000 13,250,000 11,808,000 -8,334,000 6,681,000 26,083,000 21,708,000 9,492,000 -748,000 7,069,000 9,337,000 5,617,000 -2,017,000 5,357,000 -3,757,000 4,660,000 -5,321,000 12,850,000 -2,364,000 -1,337,000 
      advances from customers
    		-18,897,000 -21,553,000 -2,804,000 34,272,000 6,445,000 24,151,000 2,182,000 -12,366,000 -4,271,000 20,754,000 25,857,000 74,092,000 -14,477,000 29,273,000 8,967,000 10,980,000 14,932,000 9,720,000 -859,000 -478,000 195,000 3,449,000 -2,748,000 45,000 4,498,000 2,019,000 1,712,000 87,000 53,000 
      deferred revenue
    		1,889,000 2,880,000 2,243,000 -1,601,000 4,859,000 -3,300,000 4,892,000 -1,060,000 -303,000 649,000 3,407,000 1,480,000 -2,448,000 2,699,000 55,000 1,033,000 1,315,000 524,000 345,000           
      income taxes payable
    		-349,000 -5,955,000 -6,630,000 6,059,000 -4,390,000 -254,000 5,009,000 -4,730,000 -890,000 1,946,000 6,683,000                   
      fin-48 payable
    		394,000 1,891,000 17,000 10,475,000 -3,103,000 -37,000 -19,000 5,662,000 41,000 -328,000 88,000 -107,000 -131,000 10,000                
      other payables and accrued expenses
    		17,377,000 -2,095,000 2,431,000 8,161,000 8,218,000 6,017,000 807,000 14,447,000 -3,076,000 8,677,000 1,327,000 8,167,000 4,314,000 1,274,000 3,668,000 -911,000 3,181,000 -726,000 2,425,000 1,758,000 1,779,000 -101,000 1,440,000 1,013,000 2,296,000 2,026,000 605,000 27,000 690,000 
      operating lease liabilities
    		-1,269,000 -974,000 -1,053,000 -666,000 -844,000 -1,031,000 -973,000                       
      other long-term liabilities
    		-205,000 -321,000 -369,000 3,532,000 180,000 36,000 -404,000 4,365,000 -3,834,000 -3,893,000 1,730,000 -2,274,000 -1,773,000 155,000 161,000 -1,694,000 -1,865,000 1,386,000 -289,000 746,000 1,715,000 -829,000 761,000 -1,373,000 -660,000 -409,000 7,000 -278,000 -573,000 
      net cash from operating activities
    		-4,625,000 -44,901,000 5,282,000 88,595,000 11,913,000 61,591,000 -9,649,000        -4,063,000 -10,501,000 10,742,000   -14,480,000 3,829,000 -145,000 -1,425,000 -3,182,000 9,642,000 1,385,000 3,275,000 -7,393,000 -3,440,000 
      capex
    		-11,015,000 -14,732,000 -16,726,000 0 -32,535,000 -13,093,000 -25,419,000        -2,706,000 -887,000 -1,466,000   -1,411,000 -118,000 -507,000 -210,000 -115,000 -232,000 -716,000 -487,000 -395,000 -502,000 
      free cash flows
    		-15,640,000 -59,633,000 -11,444,000 88,595,000 -20,622,000 48,498,000 -35,068,000        -6,769,000 -11,388,000 9,276,000   -15,891,000 3,711,000 -652,000 -1,635,000 -3,297,000 9,410,000 669,000 2,788,000 -7,788,000 -3,942,000 
      cash flows from investing activities:
    		                             
      purchase of property and equipment
    		-11,015,000 -14,732,000 -16,726,000  -32,535,000 -13,093,000 -25,419,000 -12,341,000 -27,902,000 -6,738,000 -14,895,000   -3,176,000 -2,706,000 -887,000 -1,466,000 -1,628,000 -2,054,000 -1,411,000 -118,000 -507,000 -210,000 -115,000 -232,000 -716,000 -487,000 -395,000 -502,000 
      purchase of intangible assets
    		4,000 -409,000 -375,000 -1,501,000 -832,000 -484,000 -668,000 -851,000 -326,000 -1,130,000 -155,000 -1,034,000 363,000 -408,000 13,000 -319,000 -112,000 -243,000 -26,000   -43,000 -70,000 -1,000 109,000 -193,000   -78,000 
      purchase of short-term investments
    		   12,000 0 6,000 -1,409,000                       
      purchase of time deposits
    		-10,000,000 -17,000,000 -10,000,000 -5,920,000 -10,720,000 -12,820,000 -45,270,000 -3,190,000                      
      proceeds from redemption and maturity of time deposits
    		10,000,000 17,000,000 10,261,000                           
      refund of deposit for land use right
    		0                             
      proceeds from disposal of long-term investments
    		                             
      purchase of long-term investments
    		   -17,507,000 0 -1,378,000 -5,988,000 -1,020,000                      
      net cash from investing activities
    		-11,489,000 -14,455,000 -16,840,000 -20,531,000 -23,317,000 19,598,000 12,291,000 -4,604,000 -48,782,000 -2,488,000 49,129,000 -162,900,000 162,479,000 -156,359,000 -2,693,000 -1,206,000 -1,578,000 -35,297,000 -3,501,000 -31,034,000 -118,000 -4,789,000 -389,000 -116,000 -123,000 -909,000 -644,000 -395,000 -15,234,000 
      cash flows from financing activities:
    		                             
      proceeds from short-term borrowings
    		14,377,000 28,017,000 17,056,000 481,000 8,848,000 406,000 23,530,000 2,020,000       335,000 13,442,000 4,211,000 1,505,000 5,261,000 23,126,000 2,681,000 3,244,000 6,738,000 8,285,000 4,661,000 2,912,000 2,766,000 7,387,000 3,001,000 
      repayments of short-term borrowings
    		-22,473,000 -214,000 -24,961,000 -1,559,000 -29,541,000 -910,000 -287,000 -5,338,000    -8,773,000   -7,235,000 -15,009,000 -6,744,000 -3,353,000 -3,318,000 -1,148,000 -12,415,000 -2,424,000 -4,262,000 -5,084,000 -5,169,000 -2,710,000 -2,946,000 -2,306,000 -1,467,000 
      proceeds from long-term borrowings
    		30,166,000 36,784,000 52,701,000 15,203,000 49,416,000   14,500,000       5,391,000               
      repayments of long-term borrowings
    		-14,625,000 -14,791,000 -455,000 -3,278,000 -3,102,000 -2,009,000 -1,193,000 -513,000 -659,000 585,000 -1,696,000 -1,604,000 592,000 -696,000 -399,000 -570,000 -224,000             
      capital contribution by non-controlling shareholder
    		0 104,000 138,000                           
      proceeds from exercise of stock options
    		4,311,000 853,000 22,729,000 4,609,000 53,000 1,638,000 4,799,000 848,000 765,000 4,284,000 241,000 1,124,000                  
      repurchase of acm shanghai's shares
    		0                             
      acm shanghai dividend
    		                             
      net proceeds from issuance of shares by acm shanghai
    		                             
      net cash from financing activities
    		627,142,000 43,765,000 67,208,000 15,456,000 18,774,000 31,402,000 26,849,000 11,517,000 3,599,000 4,869,000 -1,455,000 41,435,000 -5,027,000 28,000 -976,000 2,051,000 -1,380,000 18,276,000 3,261,000 20,856,000 -9,559,000 53,326,000 2,588,000 3,261,000 -491,000 418,000   18,714,000 
      effect of exchange rate changes on cash, cash equivalents and restricted cash
    		3,425,000 651,000 866,000 -7,464,000 2,972,000 208,000 -551,000 1,805,000 12,719,000 -11,480,000 -4,784,000 -19,031,000   2,559,000 1,069,000 -754,000 2,095,000 3,431,000 46,000 -1,002,000         
      net increase in cash, cash equivalents and restricted cash
    		614,453,000 -14,940,000 56,516,000 76,056,000 10,342,000 112,799,000 28,940,000          7,030,000 -20,437,000 5,806,000 -24,612,000 -6,850,000         
      cash, cash equivalents and restricted cash at beginning of period
    		0 0 411,310,000 0 0 0 183,173,000 0 0 0 248,451,000 182,756,000   0 0 71,766,000 0 0 0 117,859,000         
      cash, cash equivalents and restricted cash at end of period
    		614,453,000 -14,940,000 467,826,000 76,056,000 10,342,000 112,799,000 212,113,000 -24,488,000 -50,341,000 -2,845,000 260,847,000 12,298,000   -5,173,000 -8,587,000 78,796,000 -20,437,000 5,806,000 -24,612,000 111,009,000         
      cash and cash equivalents
    		616,821,000 -15,152,000 457,240,000 73,973,000 9,441,000 112,726,000 211,305,000 -25,011,000 -50,319,000 -2,967,000 260,387,000    -5,173,000 -8,587,000 78,796,000 -20,437,000 5,806,000 34,114,000 52,283,000         
      restricted cash
    		-2,368,000 212,000 10,586,000 2,083,000 901,000 73,000 808,000 523,000 -22,000 122,000 460,000          58,726,000         
      cash, cash equivalents and restricted cash
    		614,453,000 -14,940,000 467,826,000 76,056,000 10,342,000 112,799,000 212,113,000 -24,488,000 -50,341,000 -2,845,000 260,847,000    -5,173,000 -8,587,000 78,796,000 -20,437,000 5,806,000 -24,612,000 111,009,000         
      supplemental disclosure of cash flow information:
    		                             
      interest paid, net of capitalized interest
    		1,851,000 1,757,000 1,558,000 1,228,000 1,208,000 932,000 783,000 697,000 640,000 649,000 695,000 680,000 45,000 261,000 191,000 194,000 189,000             
      cash paid for income taxes
    		6,552,000 12,598,000 10,801,000 1,417,000 690,000   9,629,000 9,231,000 4,369,000 2,874,000 63,000   143,000 400,000 63,000 365,000 502,000           
      non-cash financing activities:
    		                             
      cashless exercise of stock options
    		16,000 19,000 160,000 166,000 55,000 122,000 140,000 122,000 132,000 32,000 47,000 96,000 -10,000 39,000 0 35,000 83,000             
      non-cash investing activities:
    		                             
      transfer of prepayment for property to property, plant, and equipment
    		10,000    94,000 170,000 5,320,000                       
      transfer from other non-current assets to long term investment
    		0                             
      transfer from inventories to property, plant and equipment
    		0                             
      purchases of property, plant and equipment through other payables and accrued expenses
    		                             
      name of subsidiaries
    		                             
      acm research
    		                             
      cleanchip technologies limited
    		                             
      acm research korea co., ltd.
    		                             
      acm research (cayman), inc.
    		                             
      hanguk acm co., ltd
    		                             
      acm-wooil microelectronics (shanghai) co., ltd.
    		                             
      shengyi micro semiconductor (shanghai) co., ltd.
    		                             
      yusheng micro semiconductor (shanghai) co., ltd.
    		                             
      adjustments to reconcile net income from operations to net cash from operating activities
    		                             
      (income) income from equity method investments
    		 -1,773,000 -952,000                           
      reconciliation of cash, cash equivalents and restricted cash in consolidated statements of cash flows:
    		                             
      proceeds from sale of short-term investments included in other receivables
    		     0 3,167,000                       
      purchases of property, plant and equipment through other payable
    		                             
      unrealized loss on short-term investments
    		  1,082,000  -413,000 -1,031,000 2,595,000                       
      (reversal) benefit from credit losses
    		  -9,000                           
      advances to related party
    		  -360,000 429,000 1,303,000 -1,418,000 1,094,000 -1,268,000 -9,000 1,151,000 1,016,000 -4,203,000                  
      related party accounts payable
    		  3,152,000 741,000 -2,620,000 1,769,000 4,836,000 3,723,000 -4,195,000 -6,475,000 3,886,000 -3,395,000                  
      transfer of prepayment for property to property, plant and equipment
    		  9,000                           
      transfer from other non-current assets to long-term investment
    		  16,737,000                           
      purchase property, plant and equipment through other payable
    		  23,430,000                           
      gain on disposals of property, plant and equipment
    		   -118,000    0                      
      prepaid expenses
    		   2,301,000 8,446,000 1,305,000 -141,000 -1,887,000 1,561,000 -1,387,000 -3,362,000 -3,288,000 1,916,000 -5,015,000 1,385,000 -2,918,000 -83,000 -147,000 -2,195,000 -1,165,000 -11,000 -89,000 222,000 190,000 159,000 132,000 6,000 -1,791,000 276,000 
      purchase of property, plant and equipment
    		                             
      proceeds from maturity of time deposits
    		     47,967,000 90,445,000 8,129,000                      
      proceeds from sale of short-term investments
    		   5,267,000                          
      acm shanghai dividends
    		   0    0                      
      prepayment for purchase of long-term investment
    		                             
      purchase of intangible assets included in other long-term assets
    		                             
      transfer from inventory to property, plant and equipment
    		       0                      
      transfer from property, plant and equipment to inventory
    		                             
      purchase property, plant and equipment through other payable and accrued expenses
    		                             
      purchase long-term investments through other payable and accrued expenses
    		                             
      adjustments to reconcile net income from operations to net cash generated from (used in) operating activities
    		                             
      purchase property, plant and equipment through accounts payable and other payable
    		       6,362,000                      
      loss on disposals of property, plant and equipment
    		                26,000 24,000 0   -3,000        
      loss (income) from equity method investments
    		                             
      unrealized gain on short-term investments
    		                             
      income tax recoverable
    		                             
      proceeds from a subsidiary equity issuance, net of issuance costs
    		                             
      proceeds from warrant exercise to common stock
    		              0               
      net cash flow used in operating activities
    		        -17,877,000 6,254,000 -30,494,000                   
      purchase of equity investments
    		                             
      proceeds from selling short-term investments
    		                             
      dividend from long-term investments
    		                             
      net decrease in cash, cash equivalents and restricted cash
    		          12,396,000 -170,458,000                  
      reconciliation of cash, cash equivalents and restricted cash in condensed consolidated statements of cash flows:
    		                             
      conversion of class b common stock to class a common stock
    		                             
      realized gain on trading securities
    		         -3,919,000 -3,994,000                   
      equity income in net income of affiliates
    		         -3,920,000 32,000 -1,180,000   -421,000 -295,000 -320,000 -116,000 -182,000 -209,000 -148,000 9,000 -153,000 -116,000 112,000 -117,000    
      unrealized loss on trading securities
    		         2,455,000 654,000   3,858,000   1,047,000             
      bad debt expense
    		         198,000 298,000                   
      purchase of long-term investment
    		         -725,000 -728,000                   
      increase of time deposits
    		         -5,627,000 53,835,000                   
      proceeds from selling trading securities
    		         6,637,000 11,072,000                   
      unrealized gain on trading securities
    		           9,139,000   919,000   -3,604,000            
      increase of short-term time deposits
    		             -74,025,000                
      increase of long-term time deposits
    		             -78,750,000                
      investments in affiliates
    		                             
      purchase of long term investment
    		                             
      transfer of prepayment for property to property plant and equipment
    		                             
      income tax payable
    		            5,789,000 -1,999,000 752,000 377,000 75,000 -3,526,000 1,808,000 -1,682,000 263,000 1,173,000 -1,026,000 15,000 504,000 458,000    
      net cash flow provided by operating activities
    		            -5,839,000 -27,729,000                
      decrease (increase) of short-term time deposits
    		                             
      decrease (increase) of long-term time deposits
    		                             
      equity (income) loss in net (income) loss of affiliates
    		             71,000                
      inventory
    		             -52,503,000 -40,181,000 -32,156,000 -15,276,000 -22,406,000 -12,732,000 -4,699,000 -931,000 894,000 -4,024,000 -2,759,000 -8,926,000 -2,829,000 -8,432,000 -3,896,000 2,860,000 
      proceeds from stock option exercise to common stock
    		             724,000 932,000 820,000 1,377,000 554,000 1,318,000 698,000 175,000 140,000 112,000 60,000 17,000 216,000 233,000 62,000 0 
      effect of exchange rate changes on cash and cash equivalents
    		             1,304,000         -563,000 280,000  -91,000 -435,000 150,000 567,000 
      net increase in cash and cash equivalents
    		             -182,756,000         211,000 243,000   2,249,000 -2,495,000 607,000 
      cash and cash equivalents at beginning of period
    		             563,067,000         0 27,124,000   0 17,681,000 0 
      cash and cash equivalents at end of period
    		             380,311,000         211,000 27,367,000   2,249,000 15,186,000 607,000 
      change in fair value of financial liability
    		                 0 6,533,000           
      purchase of land-use-right
    		                 -413,000            
      prepayment for property
    		                 -33,228,000            
      purchase of trading securities
    		                 -340,000            
      repayments of notes payable
    		                 0 0           
      net (decrease) in cash, cash equivalents and restricted cash
    		                             
      non-cash from financing activities:
    		                             
      warrant conversion to common stock
    		                 0 0 0 399,000         
      share cancellation
    		                             
      issuance of warrant for settlement of financial liability and cancellation of note receivable
    		                             
      prepayment for land-use-right and property
    		                             
      adjustments to reconcile net income from operations to net cash from operating activities:
    		                             
      investments in unconsolidated affiliates
    		                     -4,239,000        
      proceeds from issuance of class a common stock in connection with public offering, net of direct issuance expenses of 2,287
    		                             
      payment for repurchase of class a common stock
    		                             
      payment for cancellation of stock option
    		                             
      proceeds from issuance of common stock to redeemable non-controlling interest
    		                             
      interest paid
    		                 371,000 272,000 228,000 111,000 205,000 194,000 139,000 134,000 112,000 149,000 103,000 81,000 
      share cancellation,
    		                             
      issuance of warrant for settlement of financial liability,
    		                             
      share cancellation, note 12
    		                             
      adjustments to reconcile net income from operations to net cash used in
    		                             
      operating activities:
    		                             
      adjustments to reconcile net income from operations to net cash provided by
    		                             
      other current assets
    		                        32,000 -34,000 43,000 3,000 844,000 
      loss on disposals of fixed assets, intangible assets and other long-term assets
    		                             
      loan to related party
    		                            0 
      purchase of non-controlling interest
    		                            -14,654,000 
      investments in unconsolidated equity method affiliates
    		                             
      proceeds from issuance of series e convertible preferred stock
    		                             
      proceeds from issuance of common stock in connection with initial public offering and concurrent private placement
    		                             
      payment of initial public offering expenses
    		                             
      investment in affiliates
    		                             
      proceeds from issuance of common stock for non-controlling interest purchase
    		                             
      effect of exchange rate changes on cash and cash equivalent
    		                             
      net increase in cash and cash equivalent
    		                             
      preferred stock conversion to common stock in connection with initial public offering
    		                             
      proceeds from issuance of series f preferred stock
    		                             
      proceeds from issuance of common stock
    		                             
      net increase in cash, cash equivalents, and restricted cash
    		                             
      cash, cash equivalents, and restricted cash at beginning of period
    		                             
      undistributed earnings from investments in equity method affiliates
    		                           -1,000 -17,000 
      net cash provided in financing activities
    		                           5,143,000  
      net income from debt conversion and interest waiver
    		                             
      proceed from disposal of property and equipment
    		                             
      investment in affiliates, equity method
    		                             
      investors’ deposit
    		                             
      proceeds from issuance of series f convertible preferred stock
    		                             
      proceeds from issuance of common stock in connection with initial public offering and concurrent private placement, net of direct issuance expenses of 1,254
    		                             
      debt conversion to class a common stock
    		                             
      debt conversion to series f convertible preferred stock
    		                             
      exercise of stock option in lieu of the cash repayment of notes payable
    		                             
      proceed from issuance of series e convertible preferred stock
    		                             
      investor deposits for series f convertible preferred stock
    		                             
      income taxes paid
    		                             
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.