ACM Research (ACMR) 10-Q 10 Aug 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Aug. 04, 2020
Entity Listings [Line Items]
Entity Registrant Name	ACM Research, Inc.
Entity Central Index Key	0001680062
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-38273
Entity Tax Identification Number	94-3290283
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	42307 Osgood Road, Suite I
Entity Address, City or Town	Fremont
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94539
City Area Code	510
Local Phone Number	445-3700
Title of 12(b) Security	Class A Common Stock, $0.0001 par value
Trading Symbol	ACMR
Security Exchange Name	NASDAQ
Class A Common Stock [Member]
Entity Listings [Line Items]
Entity Common Stock, Shares Outstanding		16,272,306
Class B Common Stock [Member]
Entity Listings [Line Items]
Entity Common Stock, Shares Outstanding		1,802,606

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 86,397	$ 58,261
Restricted cash	0	59,598
Accounts receivable, less allowance for doubtful accounts of $0 as of June 30, 2020 and December 31, 2019 (note 3)	58,903	31,091
Other receivables	7,651	2,603
Inventories (note 4)	49,772	44,796
Prepaid expenses	3,157	2,047
Total current assets	205,880	198,396
Property, plant and equipment, net (note 5)	3,956	3,619
Operating lease right-of-use assets, net (note 8)	4,648	3,887
Intangible assets, net	329	344
Deferred tax assets (note 16)	5,763	5,331
Long-term investments (note 10)	20,360	5,934
Other long-term assets	16,466	192
Total assets	257,402	217,703
Current liabilities:
Short-term borrowings (note 6)	25,772	13,753
Accounts payable	27,986	13,262
Advances from customers	8,780	9,129
Income taxes payable	1,669	3,129
Other payables and accrued expenses (note 7)	15,357	12,874
Current portion of operating lease liability (note 8)	1,331	1,355
Deferred revenue	474	0
Financial liability carried at fair value (note 11)	15,147	0
Total current liabilities	96,516	53,502
Long-term operating lease liability (note 8)	3,317	2,532
Other long-term liabilities (note 9)	6,584	4,186
Total liabilities	106,417	60,220
Commitments and contingencies (note 17)
Redeemable non-controlling interests (note 14)	0	60,162
Stockholders' equity:
Additional paid in capital	76,189	83,487
Accumulated surplus	17,131	15,507
Accumulated other comprehensive loss	(3,415)	(1,675)
Total ACM Research, Inc. stockholders' equity	89,907	97,321
Non-controlling interests	61,078	0
Total stockholders' equity	150,985	97,321
Total liabilities, redeemable non-controlling interests, and stockholders' equity	257,402	217,703
Class A Common Stock [Member]
Stockholders' equity:
Common stock	2	2
Class B Common Stock [Member]
Stockholders' equity:
Common stock	$ 0	$ 0

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Accounts receivable, allowance for doubtful accounts	$ 0	$ 0
Class A Common Stock [Member]
Stockholders' equity:
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	16,250,092	16,182,151
Common stock, shares outstanding (in shares)	16,250,092	16,182,151
Class B Common Stock [Member]
Stockholders' equity:
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	2,409,738	2,409,738
Common stock, shares issued (in shares)	1,802,606	1,862,608
Common stock, shares outstanding (in shares)	1,802,606	1,862,608

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) [Abstract]
Revenue	$ 39,049	$ 29,010	$ 63,397	$ 49,489
Cost of revenue	19,693	15,879	33,813	27,532
Gross profit	19,356	13,131	29,584	21,957
Operating expenses:
Sales and marketing	4,595	2,924	7,600	4,793
Research and development	5,221	3,341	8,898	6,106
General and administrative	2,204	2,205	4,532	4,146
Total operating expenses, net	12,020	8,470	21,030	15,045
Income from operations	7,336	4,661	8,554	6,912
Interest income	320	24	655	33
Interest expense	(228)	(194)	(339)	(333)
Change in fair value of financial liability	(5,431)	0	(5,431)	0
Other income, net	149	543	826	282
Equity income in net income of affiliates	209	153	357	269
Income before income taxes	2,355	5,187	4,622	7,163
Income tax expense (note 16)	(1,859)	(876)	(2,163)	(995)
Net income	496	4,311	2,459	6,168
Less: Net income attributable to non-controlling interests and redeemable non-controlling interests	577	0	835	0
Net income (loss) available to common stockholders, basic and diluted	(81)	4,311	1,624	6,168
Comprehensive income:
Net income	496	4,311	2,459	6,168
Foreign currency translation adjustment	242	(968)	(1,658)	(311)
Comprehensive Income	738	3,343	801	5,857
Less: Comprehensive income attributable to non-controlling interests and redeemable non-controlling interests	1,610	0	916	0
Comprehensive income (loss) attributable to ACM Research, Inc.	$ (872)	$ 3,343	$ (115)	$ 5,857
Net income (loss) attributable to ACM Research, Inc. per common share (note 2):
Basic (in dollars per share)	$ 0	$ 0.27	$ 0.09	$ 0.38
Diluted (in dollars per share)	$ 0	$ 0.23	$ 0.08	$ 0.33
Weighted average common shares outstanding used in computing per share amounts (note 2):
Basic (in shares)	18,050,841	16,090,937	18,085,602	16,067,924
Diluted (in shares)	21,516,175	18,604,347	21,197,203	18,455,534

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]Common Stock Class A [Member]	Common Stock [Member]Common Stock Class B [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss [Member]	Noncontrolling Interest [Member]	Total
Beginning balance at Dec. 31, 2018	$ 1	$ 0	$ 56,567	$ (3,387)	$ (857)		$ 52,324
Beginning balance (in shares) at Dec. 31, 2018	14,110,315	1,898,423
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ 0	$ 0	0	6,168	0		6,168
Foreign currency translation adjustment	0	0	0	0	(311)		(311)
Exercise of stock options	$ 0	$ 0	172	0	0		172
Exercise of stock options (in shares)	104,627	0
Stock-based compensation	$ 0	$ 0	1,362	0	0		1,362
Conversion of class B common shares to Class A common shares	$ 0	$ 0	0	0	0		0
Conversion of class B common shares to Class A common shares (in shares)	15,000	(15,000)
Share cancellation (note 11)							0
Ending balance at Jun. 30, 2019	$ 1	$ 0	58,101	2,781	(1,168)		59,715
Ending balance (in shares) at Jun. 30, 2019	14,229,942	1,883,423
Beginning balance at Mar. 31, 2019	$ 1	$ 0	57,371	(1,530)	(200)		55,642
Beginning balance (in shares) at Mar. 31, 2019	14,176,690	1,898,423
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ 0	$ 0	0	4,311	0		4,311
Foreign currency translation adjustment	0	0	0	0	(968)		(968)
Exercise of stock options	$ 0	$ 0	112	0	0		112
Exercise of stock options (in shares)	38,252	0
Stock-based compensation	$ 0	$ 0	618	0	0		618
Conversion of class B common shares to Class A common shares	$ 0	$ 0	0	0	0		0
Conversion of class B common shares to Class A common shares (in shares)	15,000	(15,000)
Ending balance at Jun. 30, 2019	$ 1	$ 0	58,101	2,781	(1,168)		59,715
Ending balance (in shares) at Jun. 30, 2019	14,229,942	1,883,423
Beginning balance at Dec. 31, 2019	$ 2	$ 0	83,487	15,507	(1,675)	$ 0	97,321
Beginning balance (in shares) at Dec. 31, 2019	16,182,151	1,862,608
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ 0	$ 0	0	1,624	0	192	1,816
Foreign currency translation adjustment	0	0	0	0	(1,740)	928	(812)
Exercise of stock options	$ 0	$ 0	873	0	0	0	873
Exercise of stock options (in shares)	185,903	0
Stock-based compensation	$ 0	$ 0	1,544	0	0	0	1,544
Conversion of class B common shares to Class A common shares	$ 0	$ 0	0	0	0	0	0
Conversion of class B common shares to Class A common shares (in shares)	60,002	(60,002)
Share cancellation (note 11)	$ 0	$ 0	(9,715)	0	0	0	(9,715)
Share cancellation (note 11) (shares)	(242,681)	0
Exercise of stock warrant	$ 0	$ 0	0	0	0	0	0
Exercise of stock warrant (in shares)	64,717	0
Reclassification of redeemable non-controlling interest	$ 0	$ 0	0	0	0	59,958	59,958
Ending balance at Jun. 30, 2020	$ 2	$ 0	76,189	17,131	(3,415)	61,078	150,985
Ending balance (in shares) at Jun. 30, 2020	16,250,092	1,802,606
Beginning balance at Mar. 31, 2020	$ 2	$ 0	84,351	17,212	(2,623)	0	98,942
Beginning balance (in shares) at Mar. 31, 2020	16,317,346	1,862,608
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ 0	$ 0	0	(81)	0	192	111
Foreign currency translation adjustment	0	0	0	0	(792)	928	136
Exercise of stock options	$ 0	$ 0	698	0	0	0	698
Exercise of stock options (in shares)	115,425	0
Stock-based compensation	$ 0	$ 0	855	0	0	0	855
Conversion of class B common shares to Class A common shares	$ 0	$ 0	0	0	0	0	0
Conversion of class B common shares to Class A common shares (in shares)	60,002	(60,002)
Share cancellation (note 11)	$ 0	$ 0	(9,715)	0	0	0	(9,715)
Share cancellation (note 11) (shares)	(242,681)	0
Reclassification of redeemable non-controlling interest	$ 0	$ 0	0	0	0	59,958	59,958
Ending balance at Jun. 30, 2020	$ 2	$ 0	$ 76,189	$ 17,131	$ (3,415)	$ 61,078	$ 150,985
Ending balance (in shares) at Jun. 30, 2020	16,250,092	1,802,606

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net income	$ 2,459	$ 6,168
Adjustments to reconcile net income from operations to net cash used in operating activities:
Depreciation and amortization	441	388
Loss on disposals of property, plant and equipment	1	299
Equity income in net income of affiliates	(357)	(269)
Deferred income taxes	(507)	(1)
Stock-based compensation	1,544	1,362
Change in fair value of financial liability	5,431	0
Net changes in operating assets and liabilities:
Accounts receivable	(28,474)	(6,837)
Other receivables	(3,271)	1,150
Inventory	(5,630)	(6,783)
Prepaid expenses	(1,176)	412
Other long-term assets	(836)	(223)
Accounts payable	14,954	1,600
Advances from customers	(283)	(2,703)
Income tax payable	(1,419)	(1,011)
Other payables and accrued expenses	3,537	2,453
Deferred revenue	474	0
Other long-term liabilities	2,461	(612)
Net cash used in operating activities	(10,651)	(4,607)
Cash flows from investing activities:
Purchase of property and equipment	(1,529)	(325)
Purchase of intangible assets	(55)	(71)
Purchase of long-term investments	(14,130)	0
Prepayment for land-use-right and property	(15,438)	0
Investments in unconsolidated affiliates	0	(109)
Net cash used in investing activities	(31,152)	(505)
Cash flows from financing activities:
Proceeds from short-term borrowings	25,807	15,023
Repayments of short-term borrowings	(13,563)	(9,346)
Repayments of notes payable	(1,820)	0
Proceeds from stock option exercise to common stock	873	172
Net cash provided by financing activities	11,297	5,849
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(956)	(283)
Net increase (decrease) in cash, cash equivalents and restricted cash	(31,462)	454
Cash, cash equivalents and restricted cash at beginning of period	117,859	27,124
Cash, cash equivalents and restricted cash at end of period	86,397	27,578
Supplemental disclosure of cash flow information:
Interest paid	339	333
Cash paid for income taxes	4,104	0
Cash and cash equivalents	86,397	27,578
Restricted cash	0	0
Non-cash financing activities:
Warrant conversion to common stock	399	0
Share cancellation (note 11)	$ 9,715	$ 0

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	6 Months Ended
	Jun. 30, 2020
DESCRIPTION OF BUSINESS [Abstract]
DESCRIPTION OF BUSINESS	NOTE 1 – DESCRIPTION OF BUSINESS ACM Research, Inc. (“ACM”) and its subsidiaries (collectively with ACM, the “Company”) develop, manufacture and sell single-wafer wet cleaning equipment used to improve the manufacturing process and yield for advanced integrated chips. The Company markets and sells its single-wafer wet-cleaning equipment, under the brand name “Ultra C,” based on the Company’s proprietary Space Alternated Phase Shift (“SAPS”) and Timely Energized Bubble Oscillation (“TEBO”) technologies. These tools are designed to remove random defects from a wafer surface efficiently, without damaging the wafer or its features, even at increasingly advanced process nodes. ACM was incorporated in California in 1998, and it initially focused on developing tools for manufacturing process steps involving the integration of ultra low-K materials and copper. The Company’s early efforts focused on stress-free copper-polishing technology, and it sold tools based on that technology in the early 2000s. In 2006 the Company established its operational center in Shanghai in the People’s Republic of China (the “PRC”), where it operates through ACM’s subsidiary ACM Research (Shanghai), Inc. (“ACM Shanghai”). ACM Shanghai was formed initially in 2005 to help establish and build relationships with integrated circuit manufacturers in the PRC, and the Company initially financed its Shanghai operations in part through sales of non-controlling equity interests in ACM Shanghai. In 2007 the Company began to focus its development efforts on single-wafer wet-cleaning solutions for the front-end chip fabrication process. The Company introduced its SAPS megasonic technology, which can be applied in wet wafer cleaning at numerous steps during the chip fabrication process, in 2009. It introduced its TEBO technology, which can be applied at numerous steps during the fabrication of small node two-dimensional conventional and three-dimensional patterned wafers, in March 2016. The Company has designed its equipment models for SAPS and TEBO solutions using a modular configuration that enables it to create a wet-cleaning tool meeting the specific requirements of a customer, while using pre-existing designs for chamber, electrical, chemical delivery and other modules. In August 2018, the Company introduced its Ultra-C Tahoe wafer cleaning tool, which can deliver high cleaning performance with significantly less sulfuric acid than typically consumed by conventional high-temperature single-wafer cleaning tools. The Company also offers a range of custom-made equipment, including cleaners, coaters and developers, to back-end wafer assembly and packaging factories, principally in the PRC. In 2011 ACM Shanghai formed a wholly owned subsidiary in the PRC, ACM Research (Wuxi), Inc. (“ACM Wuxi”), to manage sales and service operations. In June 2017 ACM formed a wholly owned subsidiary in Hong Kong, CleanChip Technologies Limited (“CleanChip”), to act on the Company’s behalf in Asian markets outside the PRC by, for example, serving as a trading partner between ACM Shanghai and its customers, procuring raw materials and components, performing sales and marketing activities, and making strategic investments. In December 2017 ACM formed a wholly owned subsidiary in the Republic of Korea, ACM Research Korea CO., LTD. (“ACM Korea”), to serve customers based in Republic of Korea and perform sales, marketing, research and development activities for new products and solutions. In March 2019 ACM Shanghai formed a wholly owned subsidiary in the PRC, Shengwei Research (Shanghai), Inc. (“ACM Shengwei”), to manage activities related to addition of future long-term production capacity. In June 2019 CleanChip formed a wholly owned subsidiary in California, ACM Research (CA), Inc. (“ACM California”), to provide procurement services on behalf of ACM Shanghai. In June 2019 ACM announced plans to complete over the next three years a listing (the “STAR Listing”) of shares of ACM Shanghai on the Shanghai Stock Exchange’s new Sci-Tech innovAtion boaRd, known as the STAR Market, and a concurrent initial public offering (the “STAR IPO”) of ACM Shanghai shares in the PRC. ACM Shanghai is currently ACM’s primary operating subsidiary, and at the time of announcement, was wholly owned by ACM. To meet a STAR Listing requirement that it have multiple independent stockholders in the PRC, ACM Shanghai completed private placements of its shares in June and November 2019, following which, as of June 30, 2020, the private placement investors held a total of 8.3% of the outstanding shares of ACM Shanghai and ACM Research held the remaining 91.7%. As part of the STAR Listing process, in June 2020 the ownership interests held by the private investors were reclassified from redeemable non-controlling interests to non-controlling interests as the redemption feature was terminated. (Note 14). In preparation for the STAR IPO, the Company completed a reorganization in December 2019 that included the sale of all of the shares of CleanChip by ACM to ACM Shanghai for $3,500. The reorganization and sale had no impact on the Company’s consolidated financial statements. The Company has direct or indirect interests in the following subsidiaries: Effective interest held as at Name of subsidiaries Place and date of incorporation June 30, 2020 December 31, 2019 ACM Research (Shanghai), Inc. China, May 2005 91.7 % 91.7 % ACM Research (Wuxi), Inc. China, July 2011 91.7 % 91.7 % CleanChip Technologies Limited Hong Kong, June 2017 91.7 % 91.7 % ACM Research Korea CO., LTD. Korea, December 2017 91.7 % 91.7 % Shengwei Research (Shanghai), Inc. China, March 2019 91.7 % 91.7 % ACM Research (CA), Inc. USA, June 2019 91.7 % 91.7 % ACM Research (Cayman), Inc. Cayman Islands, April 2019 100.0 % 100.0 %

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2020
SIGNIFICANT ACCOUNTING POLICIES [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The Company’s consolidated financial statements include the accounts of ACM and its subsidiaries, including ACM Shanghai and its subsidiaries, which include ACM Wuxi, ACM Shengwei and CleanChip (the subsidiaries of which include ACM California and ACM Korea). ACM’s subsidiaries are those entities in which ACM, directly and indirectly, controls more than one half of the voting power. All significant intercompany transactions and balances have been eliminated upon consolidation. The accompanying condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and the rules and regulations of the Securities and Exchange Commission for reporting on Form 10-Q. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. The unaudited condensed consolidated financial statements herein should be read in conjunction with the historical consolidated financial statements of the Company for the year ended December 31, 2019 included in ACM’s Annual Report on Form 10-K for the year ended December 31, 2019. The accompanying condensed consolidated balance sheet as of June 30, 2020, condensed consolidated statements of operations and comprehensive income for the three and six months ended June 30, 2020 and 2019, condensed consolidated statements of changes in stockholders’ equity for the three and six months ended June 30, 2020 and 2019, and condensed consolidated statements of cash flows for the six months ended June 30, 2020 and 2019 are unaudited. In the opinion of management, the unaudited condensed consolidated financial statements of the Company reflect all adjustments that are necessary for a fair presentation of the Company’s financial position and results of operations. Such adjustments are of a normal recurring nature, unless otherwise noted. The balance sheet as of June 30, 2020 and the results of operations for the three and six months ended June 30, 2020 are not necessarily indicative of the results to be expected for any future period. COVID-19 Assessment The outbreak of COVID-19, the coronavirus, has grown both in the United States and globally, and related government and private sector responsive actions have adversely affected the Company’s business operations. In December 2019 a series of emergency quarantine measures taken by the PRC government disrupted domestic business activities during the weeks after the initial outbreak of COVID-19. Since that time, an increasing number of countries, including the United States, have imposed restrictions on travel to and from the PRC and elsewhere, as well as general movement restrictions, business closures and other measures imposed to slow the spread of COVID-19. The situation continues to develop, however, and it is impossible to predict the effect and ultimate impact of the COVID-19 outbreak on the Company’s business operations and results. While the quarantine, social distancing and other regulatory measures instituted or recommended in response to COVID-19 are expected to be temporary, the duration of the business disruptions, and related financial impact, cannot be estimated at this time. The COVID-19 outbreak has been declared a worldwide health pandemic that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn and changes in global economic policy that could reduce demand for the Company’s products and its customers’ chips and have a material adverse impact on the Company’s business, operating results and financial condition. Through June 30, 2020 the Company did not experience significant negative impact of COVID-19 on its operations, capital and financial resources, including overall liquidity position. Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the balance sheet date and the reported revenue and expenses during the reported period in the condensed consolidated financial statements and accompanying notes. The Company’s significant accounting estimates and assumptions include, but are not limited to, those used for the valuation and recognition of stock-based compensation arrangements and valuation of financial liability, realization of deferred tax assets, assessment for impairment of long-lived assets, allowance for doubtful accounts, inventory valuation for excess and obsolete inventories, lower of cost and market value or net realizable value of inventories, depreciable lives of property and equipment, and useful life of intangible assets. Management believes that the estimates, judgments and assumptions are reasonable, based on information available at the time they are made. Actual results could differ materially from those estimates. Basic and Diluted Net Income per Common Share Basic and diluted net income per common share is calculated as follows: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Numerator: Net income $ 496 $ 4,311 $ 2,459 $ 6,168 Net income attributable to non-controlling interests and redeemable non-controlling interests 577 - 835 - Net income (loss) available to common stockholders, basic and diluted $ (81 ) $ 4,311 $ 1,624 $ 6,168 Weighted average shares outstanding, basic 18,050,841 16,090,937 18,085,602 16,067,924 Effect of dilutive securities 3,465,334 2,513,410 3,111,601 2,387,610 Weighted average shares outstanding, diluted 21,516,175 18,604,347 21,197,203 18,455,534 Net income (loss) per common share: Basic $ (0.00 ) $ 0.27 $ 0.09 $ 0.38 Diluted $ (0.00 ) $ 0.23 $ 0.08 $ 0.33 ACM has been authorized to issue Class A and Class B common stock since redomesticating in Delaware in November 2016. The two classes of common stock are substantially identical in all material respects, except for voting rights. Since ACM did not declare any dividends during the three and six months ended June 30, 2020 and 2019, the net income per common share attributable to each class is the same under the “two-class” method. As such, the two classes of common stock have been presented on a combined basis in the condensed consolidated statements of operations and comprehensive income and in the above computation of net income per common share. Diluted net income per common share reflects the potential dilution from securities that could share in ACM’s earnings. ACM’s potential dilutive securities consist of warrants and stock options for the three and six months ended June 30, 2020 and 2019. Concentration of Credit Risk The Company is potentially subject to concentrations of credit risks in its accounts receivable. For the six months ended June 30, 2020 and 2019, the Company’s three largest customers accounted for 92.4% and 72.1%, respectively, of revenue. For the three months ended June 30, 2020 and 2019, the Company’s three largest customers accounted for 91.0% and 89.9%, respectively, of revenue. As of June 30, 2020 and December 31, 2019, the Company’s three largest customers accounted for 83.9% and 67.7%, respectively, of the Company’s accounts receivables. The Company believes that the receivable balances from these largest customers do not represent a significant credit risk based on past collection experience. Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In August 2018, the Financial Accounting Standards Board Fair Value Measurement (Topic 820) Recent Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Financial Instruments – Credit Losses (Topic 326), Derivatives and Hedging (Topic 815) and Leases (Topic 842), In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes

ACCOUNTS RECEIVABLE

ACCOUNTS RECEIVABLE	6 Months Ended
	Jun. 30, 2020
ACCOUNTS RECEIVABLE [Abstract]
ACCOUNTS RECEIVABLE	NOTE 3 – ACCOUNTS RECEIVABLE At June 30, 2020 and December 31, 2019, accounts receivable consisted of the following: June 30, 2020 December 31, 2019 Accounts receivable $ 58,903 $ 31,091 Less: Allowance for doubtful accounts - - Total $ 58,903 $ 31,091 The Company reviews accounts receivable on a periodic basis and makes general and specific allowances when there is doubt as to the collectability of individual balances. No allowance for doubtful accounts was considered necessary at June 30, 2020 and December 31, 2019. At June 30, 2020 and December 31, 2019, accounts receivable of $0 and $1,433, respectively, were pledged as collateral for borrowings from financial institutions.

INVENTORIES

INVENTORIES	6 Months Ended
	Jun. 30, 2020
INVENTORIES [Abstract]
INVENTORIES	NOTE 4 – INVENTORIES At June 30, 2020 and December 31, 2019, inventory consisted of the following: June 30, 2020 December 31, 2019 Raw materials $ 18,569 $ 15,105 Work in process 14,203 10,407 Finished goods 17,000 19,284 Total inventory $ 49,772 $ 44,796 System shipments of first-tools to an existing or prospective customer, for which ownership does not transfer until customer acceptance, are classified as finished goods inventory and carried at cost until ownership is transferred.

PROPERTY, PLANT AND EQUIPMENT,

PROPERTY, PLANT AND EQUIPMENT, NET	6 Months Ended
	Jun. 30, 2020
PROPERTY, PLANT AND EQUIPMENT, NET [Abstract]
PROPERTY, PLANT AND EQUIPMENT, NET	NOTE 5 – PROPERTY, PLANT AND EQUIPMENT, NET At June 30, 2020 and December 31, 2019, property, plant and equipment consisted of the following: June 30, 2020 December 31, 2019 Manufacturing equipment $ 3,936 $ 3,902 Office equipment 762 627 Transportation equipment 171 124 Leasehold improvement 1,428 1,442 Total cost 6,297 6,095 Less: Total accumulated depreciation (3,447 ) (3,077 ) Construction in progress 1,106 601 Total property, plant and equipment, net $ 3,956 $ 3,619 Depreciation expense was $189 and $177 for the three months ended June 30, 2020 and 2019, respectively, and $ and $ for the six months ended June 30, 2020 and 2019, respectively

SHORT-TERM BORROWINGS

SHORT-TERM BORROWINGS	6 Months Ended
	Jun. 30, 2020
SHORT-TERM BORROWINGS [Abstract]
SHORT-TERM BORROWINGS	NOTE 6 – SHORT-TERM BORROWINGS At June 30, 2020 and December 31, 2019, short-term borrowings consisted of the following: June 30, 2020 December 31, 2019 Line of credit up to RMB 50,000 from Bank of Shanghai Pudong Branch, due on January 23, 2020 with an annual interest rate of 5.22%, guaranteed by Dr. David Wang, the Chief Executive Officer and President of ACM (the “CEO”) and CleanChip Technologies Limited. It was fully repaid on January 23, 2020. - 5,057 Line of credit up to RMB 20,000 from Shanghai Rural Commercial Bank, due on February 21, 2020 with an annual interest rate of 5.66%, guaranteed by the CEO and pledged by accounts receivable. It was fully repaid on February 21, 2020. - 1,433 Line of credit up to RMB 20,000 from Bank of Communications, due on January 18, 2020 with an annual interest rate of 5.66% and fully repaid on January 19, 2020. - 1,433 Line of credit up to RMB 20,000 from Bank of Communications, due on January 22, 2020 with an annual interest rate of 5.66% and fully repaid on January 22, 2020. - 717 Line of credit up to RMB 20,000 from Bank of Communications, due on February 14, 2020 with an annual interest rate of 5.66% and fully repaid on February 14, 2020. - 717 Line of credit up to RMB 50,000 from China Everbright Bank, due on March 25, 2020 with an annual interest rate of 4.94%, guaranteed by the CEO and fully repaid on March 24, 2020. - 3,250 Line of credit up to RMB 50,000 from China Everbright Bank, due on April 17, 2020 with an annual interest rate of 5.66%, guaranteed by the CEO and fully repaid on April 2, 2020. - 1,146 Line of credit up to RMB 50,000 from China Everbright Bank, due on August 24, 2020 with an annual interest rate of 5.22%, guaranteed by the CEO. 2,685 - Line of credit up to RMB 80,000 from China Everbright Bank, due on April 1, 2021 with an annual interest rate of 4.70%, guaranteed by the CEO. 4,239 Line of credit up to RMB 80,000 from China Everbright Bank, due on June 27, 2021 with an annual interest rate of 4.25%, guaranteed by the CEO. 1,272 Line of credit up to RMB 80,000 from China Everbright Bank, due on April 29, 2021 with an annual interest rate of 2.80%, guaranteed by the CEO. 820 Line of credit up to RMB 80,000 from China Everbright Bank, due on June 27, 2021 with an annual interest rate of 2.70%, guaranteed by the CEO. 2,081 Line of credit up to RMB 20,000 from Bank of Communications, due on April 12, 2021 with an annual interest rate of 4.65%. 1,413 Line of credit up to RMB 20,000 from Bank of Communications, due on May 24, 2021 with an annual interest rate of 3.65%. 1,413 Line of credit up to RMB 70,000 from Bank of Shanghai Pudong Branch, due on May 27, 2021 with an annual interest rate of 4.68%, guaranteed by the CEO and CleanChip Technologies Limited. 2,374 Line of credit up to RMB 70,000 from Bank of Shanghai Pudong Branch, due on June 27, 2021 with an annual interest rate of 4.68%, guaranteed by the CEO and CleanChip Technologies Limited. 1,272 Line of credit up to RMB 70,000 from Bank of Shanghai Pudong Branch, due on May 28, 2021 with an annual interest rate of 3.48%, guaranteed by the CEO and CleanChip Technologies Limited. 2,442 Line of credit up to RMB 70,000 from Bank of Shanghai Pudong Branch, due on June 7, 2021 with an annual interest rate of 3.50%, guaranteed by the CEO and CleanChip Technologies Limited. 1,521 Line of credit up to RMB 70,000 from Bank of Shanghai Pudong Branch, due on June 16, 2021 with an annual interest rate of 3.50%, guaranteed by the CEO and CleanChip Technologies Limited. 1,838 Line of credit up to RMB 30,000 from Bank of China Pudong Branch, due on December 17, 2020 with annual interest rate of 4.35%, guaranteed by the CEO. 2,402 Total $ 25,772 $ 13,753 Interest expense related to short-term borrowings amounted to $228 and $194 for the three months ended June 30, 2020 and 2019, respectively, and $ and $ for the six months ended June 30, 2020 and 2019,

OTHER PAYABLE AND ACCRUED EXPEN

OTHER PAYABLE AND ACCRUED EXPENSES	6 Months Ended
	Jun. 30, 2020
OTHER PAYABLE AND ACCRUED EXPENSES [Abstract]
OTHER PAYABLE AND ACCRUED EXPENSES	NOTE 7 – OTHER PAYABLE AND ACCRUED EXPENSES At June 30, 2020 and December 31, 2019, other payable and accrued expenses consisted of the following: June 30, 2020 December 31, 2019 Accrued commissions $ 5,720 $ 4,082 Accrued warranty 3,284 2,811 Accrued payroll 1,907 2,092 Accrued professional fees 66 165 Accrued machine testing fees 1,426 1,456 Others 2,954 2,268 Total $ 15,357 $ 12,874

LEASES

LEASES	6 Months Ended
	Jun. 30, 2020
LEASES [Abstract]
LEASES	NOTE 8 –LEASES The Company leases space under non-cancelable operating leases for several office and manufacturing locations. These leases do not have significant rent escalation holidays, concessions, leasehold improvement incentives, or other build-out clauses. Further, the leases do not contain contingent rent provisions. Most leases include one or more options to renew. The exercise of lease renewal options is typically at the Company’s sole discretion; therefore, the majority of renewals to extend the lease terms are not included in the Company’s right-of-use assets and lease liabilities as they are not reasonably certain of exercise. The Company regularly evaluates the renewal options, and when they are reasonably certain of exercise, the Company includes the renewal period in its lease term. As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of the lease payments. The Company has a centrally managed treasury function; therefore, based on the applicable lease terms and the current economic environment, it applies a portfolio approach for determining the incremental borrowing rate. The components of lease expense were as follows: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Operating lease cost $ 378 $ 264 $ 755 $ 701 Short-term lease cost 47 7 97 25 Lease cost $ 425 $ 271 $ 852 $ 726 Supplemental cash flow information related to operating leases was as follows for the three and six-month periods ended June 30, 2020 Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflow from operating leases $ 425 $ 271 $ 852 $ 726 Maturities of lease liabilities for all operating leases were as follows as of June 30, 2020 December 31, 2020 $ 755 2021 1,496 2022 1,496 2023 874 2024 834 Total lease payments 5,455 Less: Interest (807 ) Present value of lease liabilities $ 4,648 The weighted average remaining lease terms and discount rates for all operating leases were as follows as of June 30, 2020 and December 31, 2019 June 30, 2020 December 31, 2019 Remaining lease term and discount rate: Weighted average remaining lease term (years) 2.37 3.02 Weighted average discount rate 5.29 % 5.43 %

OTHER LONG-TERM LIABILITIES

OTHER LONG-TERM LIABILITIES	6 Months Ended
	Jun. 30, 2020
OTHER LONG-TERM LIABILITIES [Abstract]
OTHER LONG-TERM LIABILITIES	NOTE 9 – OTHER LONG-TERM LIABILITIES Other long-term liabilities represent subsidies that we have received from governmental authorities, including China’s Ministry of Science and Technology, the Shanghai Municipal Commission of Economy and Information, and the Shanghai Science and Technology Committee, for development and commercialization of certain technology but have not yet earned and recognized. As of June 30, 2020 and December 31, 2019, other long-term liabilities consisted of the following unearned government subsidies: June 30, 2020 December 31, 2019 Subsidies to Stress Free Polishing project, commenced in 2008 and 2017 $ 1,136 $ 1,251 Subsidies to Electro Copper Plating project, commenced in 2014 2,339 2,666 Subsidies to Polytetrafluoroethylene, commenced in 2018 120 135 Subsidies to Tahoe-Single Bench Clean, commenced in 2020 1,913 - Subsidies to Backside Clean-YMTC National Project, commenced in 2020 834 - Other 242 134 Total $ 6,584 $ 4,186

LONG-TERM INVESTMENT

LONG-TERM INVESTMENT	6 Months Ended
	Jun. 30, 2020
LONG-TERM INVESTMENT [Abstract]
LONG-TERM INVESTMENT	NOTE 10 – LONG-TERM INVESTMENT In September 2017, ACM and Ninebell Co., Ltd. (“Ninebell”), a Korean company that is one of the Company’s principal materials suppliers, entered into an ordinary share purchase agreement, pursuant to which Ninebell issued to ACM ordinary shares representing 20% of Ninebell’s post-closing equity for a purchase price of $1,200, and a common stock purchase agreement, pursuant to which ACM issued 133,334 shares of Class A common stock to Ninebell for a purchase price of $1,000 at $7.50 per share. The investment in Ninebell is accounted for under the equity method. On June 27, 2019, ACM Shanghai and Shengyi Semiconductor Technology Co., Ltd. (“Shengyi”), a company based in Wuxi, China that is one of the Company’s components suppliers, entered into an agreement pursuant to which Shengyi issued to ACM Shanghai shares representing 15% of Shengyi’s post-closing equity for a purchase price of $109. The investment in Shengyi is accounted for under the equity method. On September 5, 2019, ACM Shanghai, entered into a Partnership Agreement with six other investors, as limited partners, and Beijing Shixi Qingliu Investment Co., Ltd., as general partner and manager, with respect to the formation of Hefei Shixi Chanheng Integrated Circuit Industry Venture Capital Fund Partnership (LP) (“Hefei Shixi”), a Chinese limited partnership based in Hefei, China. Pursuant to such Partnership Agreement, on September 30, 2019, ACM Shanghai invested $4,200, which represented 10% of the Partnership’s total subscribed capital. The investment in Hefei Shixi Chanheng Integrated Circuit Industry Venture Capital Fund Partnership (LP) is accounted for under the equity method. Pursuant to a Partnership Agreement dated June 9, 2020 (the “Partnership Agreement”) and a Supplementary Agreement thereto dated June 15, 2020 (the “Supplementary Agreement”), ACM Shanghai became a limited partner of Qingdao Fortune-Tech Xinxing Capital Partnership (L.P.), a Chinese limited partnership based in Shanghai, China (the “Partnership”) of which China Fortune-Tech Capital Co., Ltd serves as general partner and thirteen unaffiliated entities serve, with ACM Shanghai, as limited partners. The Partnership was formed to establish a special fund that would purchase, in a strategic placement, shares of Semiconductor Manufacturing International Corporation, (“SMIC”) to be listed on the STAR Market. SMIC is a Shanghai-based foundry that has been a customer of the Company’s single-wafer wet-cleaning tools. The limited partners of the Partnership contributed to the fund a total of RMB billion ($ ), of which ACM Shanghai contributed RMB million ($ million), or of the total contribution, on June 18, 2020. Upon the closing of the SMIC offering, the initial number of SMIC shares owned by the Partnership will be apportioned to all of the limited partners in proportion to their respective capital contributions ( in the case of ACM Shanghai). All of the SMIC shares acquired by the Partnership will be subject, under applicable Chinese laws, to lock-up restrictions that prevent sales of the shares for one year after the shares were acquired. Thereafter an individual limited partner will be able to instruct the general partner to sell, on behalf of the limited partner, all or a portion of the limited partner’s apportioned shares, subject to compliance with all laws, regulations, trading rules, the Partnership Agreement and the Supplementary Agreement. Alternatively, following the lock-up period, limited partners holding at least thirty percent of the total SMIC shares held by the Partnership will be able, pursuant to a call auction in accordance with the Supplementary Agreement, to cause the general partner to arrange to sell all of the shares desired to be offered by each of the limited partners that complies with procedural requirements provided in the Supplementary Agreement. ACM Shanghai’s investment will be accounted as trading securities and stated at fair market value upon the closing of SMIC’s public offering. The components of long-term investments were as follows: June 30, 2020 December 31, 2019 Ninebell $ 1,891 $ 1,538 Shengyi 128 107 Hefei Shixi 4,211 4,289 Qingdao LP 14,130 - Total $ 20,360 $ 5,934

FINANCIAL LIABILITY CARRIED AT

FINANCIAL LIABILITY CARRIED AT FAIR VALUE	6 Months Ended
	Jun. 30, 2020
FINANCIAL LIABILITY CARRIED AT FAIR VALUE [Abstract]
FINANCIAL LIABILITY CARRIED AT FAIR VALUE	NOTE 11 – FINANCIAL LIABILITY CARRIED AT FAIR VALUE In December 2016 Shengxin (Shanghai) Management Consulting Limited Partnership (“SMC”) paid 20,123,500 RMB ($2,981 as of the date of funding) (the “SMC Investment”) to ACM Shanghai for investment pursuant to terms to be subsequently negotiated. SMC is a PRC limited partnership partially owned by employees of ACM Shanghai. In March 2017 (a) ACM issued to SMC a warrant (the “Warrant”) exercisable to purchase 397,502 shares of Class A common stock at a price of $7.50 per share, for a total exercise price of $2,981, and (b) ACM Shanghai agreed to repay the SMC Investment within 60 days after the exercise of the Warrant. In March 2018 SMC exercised the Warrant in full, as a result of which (1) ACM issued 397,502 shares of Class A common stock to SMC, (2) SMC borrowed the funds to pay the Warrant exercise price pursuant to a senior secured promissory note (the “SMC Note”) in the principal amount of $2,981 issued to ACM Shanghai, which in turn issued to ACM a promissory note (the “Intercompany Note”) in the principal amount of $2,981 in payment of the Warrant exercise price. Each of the SMC Note and the Intercompany Note bears interest at a rate of 3.01% per annum and matures on August 17, 2023. The SMC Note was secured by a pledge of the shares issued upon exercise of the Warrant. In connection with its follow-on public offering of Class A common stock in August 2019, ACM agreed to purchase a total of 154,821 of the Warrant shares from SMC at a per share price of $13.195, of which (a) $1,161 was applied to reduce SMC’s obligations to ACM Shanghai under the SMC Note, and which ACM then withheld for its own account and applied to reduce ACM Shanghai’s obligations to ACM under the Intercompany Note, and (b) the remaining $882 was paid to SMC. In a separate transaction, ACM Shanghai repaid $1,161 of the SMC Investment in cash, which reduced the amount of the SMC Investment due to SMC to $1,820. The SMC Note and SMC Investment are offsetting items in the Company’s consolidated balance sheet in accordance with Accounting Standards Codification 210-20-45-1 up to April 30, 2020. In preparation for the STAR IPO, ACM Shanghai was required to terminate its financial relationship with SMC. In order to facilitate such termination, on April 30, 2020, ACM entered into two agreements relating to outstanding obligations among ACM Research, ACM Shanghai and SMC. Pursuant to such agreements: (i) ACM Shanghai assigned to ACM its rights under the SMC Note, including the right to receive payment of the $1,820 payable thereunder; (ii) ACM cancelled the outstanding $1,820 obligation of ACM Shanghai under the Intercompany Note; (iii) SMC surrendered its remaining 242,681 Warrant shares to ACM Research; and (iv) in exchange for such 242,681 Warrant shares, ACM agreed to deliver to SMC certain consideration (“SMC Consideration”) agreed upon by ACM Research and SMC, subject to obtaining certain PRC regulatory approvals. Under the agreements, if the required approvals were not obtained by December 31, 2023, ACM would cancel the SMC Note as consideration for the 242,681 Warrant shares. In a separate transaction in April 2020, ACM Shanghai repaid the remaining $1,820 of the SMC Investment in cash. The SMC Consideration is accounted for as a financial liability, and the Company applies fair value option to measure the SMC Consideration in accordance with Accounting Standards Codification 825-15-4a. On April 30, the SMC Consideration was $9,716. The financial liability was remeasured to fair value of $15,147 as of June 30, 2020 and the Company recognized change in fair value of financial liability of $5,431 for the three and six months ended June 30, 2020, which was charged to the consolidated statement of operations. The SMC Note amounted to $ and was included in the other receivables in the Company’s consolidated balance sheet as of June 30, 2020.

RELATED PARTY BALANCES AND TRAN

RELATED PARTY BALANCES AND TRANSACTIONS	6 Months Ended
	Jun. 30, 2020
RELATED PARTY BALANCES AND TRANSACTIONS [Abstract]
RELATED PARTY BALANCES AND TRANSACTIONS	NOTE 12– RELATED PARTY BALANCES AND TRANSACTIONS Prepaid expenses June 30, 2020 December 31, 2019 Ninebell $ 878 $ 348 Accounts payable June 30, 2020 December 31, 2019 Ninebell $ 2,261 $ 727 Shengyi 528 488 Total $ 2,789 $ 1,215 Three months ended Six months ended Purchase of materials 2020 2019 2020 2019 Ninebell $ 3,370 $ 2,483 $ 5,523 $ 4,803 Shengyi 456 192 514 192 Total $ 3,826 $ 2,675 $ 6,037 4,995 Three months ended June 30 Six Months ended June 30 Service fee charged by 2020 2019 2020 2019 Shengyi $ 144 $ - 190 $ -

COMMON STOCK

COMMON STOCK	6 Months Ended
	Jun. 30, 2020
COMMON STOCK [Abstract]
COMMON STOCK	NOTE 13 – COMMON STOCK ACM is authorized to issue 50,000,000 shares of Class A common stock and 2,409,738 shares of Class B common stock, each with a par value of $0.0001. Each share of Class A common stock is entitled to one vote, and each share of Class B common stock is entitled to twenty votes and is convertible at any time into one share of Class A common stock. Shares of Class A common stock and Class B common stock are treated equally, identically and ratably with respect to any dividends declared by the Board of Directors unless the Board of Directors declares different dividends to the Class A common stock and Class B common stock by getting approval from a majority of common stockholders. During the six months ended June 30, 2020 and 2019, ACM issued 185,903 and 104,627 shares of Class A common stock upon option exercises by employees and non-employees, respectively. During the six months ended June 30, 2020, ACM issued 64,717 shares of Class A common stock upon a cashless warrant exercise by a non-employee. During the three months ended June 30, 2020 and 2019, ACM issued and shares, respectively, of Class A common stock upon option exercises by employees and non-employees. During the three and six months ended June 30, 2020, S MC transferred its ownership of shares of Class A common stock to ACM in exchange for the SMC Consideration. The shares There were issued and outstanding 16,250,092 shares of Class A common stock and 1,802,606 shares of Class B common stock at June 30, 2020 and 16,182,151 shares of Class A common stock and 1,862,608 shares of Class B common stock at December 31, 2019.

REDEEMABLE NON-CONTROLLING INTE

REDEEMABLE NON-CONTROLLING INTERESTS	6 Months Ended
	Jun. 30, 2020
REDEEMABLE NON-CONTROLLING INTERESTS [Abstract]
REDEEMABLE NON-CONTROLLING INTERESTS	NOTE 14 – REDEEMABLE NON-CONTROLLING INTERESTS The components of the change in redeemable non-controlling interests for the six months ended June 30, 2020 are presented in the following table: Balance at December 31, 2019 $ 60,162 Net income attributable to redeemable non-controlling interests 643 Effect of foreign currency translation gain attributable to redeemable non-controlling interests (847 ) Reclassification of redeemable non-controlling interest (59,958 ) Balance at June 30, 2020 $ - Upon the submission of application documents by ACM Shanghai for the STAR Listing and the STAR IPO to the Shanghai Stock Exchange during the second quarter of 2020, the redemption feature of the private placement funding (note 1) terminated and the aggregate proceeds of the funding therefore were reclassified from redeemable non-controlling interests to non-controlling interests. Further, upon the termination of such redemption feature, the Company released the aggregate proceeds of the private placement funding from reserved cash, which the Company previously had voluntarily imposed in light of a potential redemption.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2020
STOCK-BASED COMPENSATION [Abstract]
STOCK-BASED COMPENSATION	NOTE 15– STOCK-BASED COMPENSATION In January 2020 ACM Shanghai adopted a 2019 Stock Option Incentive Plan (the “Subsidiary Stock Option Plan”) that provides for, among other incentives, the granting to officers, directors, employees of options to purchase shares of ACM Shanghai’s common stock. The fair value of the stock options granted is estimated at the date of grant based on the Black-Scholes option pricing model using assumptions generally consistent with those used for ACM’s stock options. Because ACM Shanghai shares are not currently publicly traded, the expected volatility is estimated with reference to the average historical volatility of a group of publicly traded companies that are believed to have similar characteristics to ACM Shanghai. ACM’s stock-based compensation consists of employee and non-employee awards issued under the 1998 Stock Option Plan and the 2016 Omnibus Incentive Plan and as standalone options. ACM granted stock options to employees under the 2016 Omnibus Incentive Plan during the six months ended June 30, 2019. The vesting condition may consist of service period determined by the Board of Directors for s grant or certain performance conditions determined by the Board of Directors for a grant. The fair value of the stock options granted with service period based condition is estimated at the date of grant using the Black-Scholes option pricing model. The fair value of the stock options granted with market based condition is estimated at the date of grant using the Monte Carlo simulation model. The following table summarizes the components of stock-based compensation expense included in the consolidated statements of operations: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Stock-Based Compensation Expense: Cost of revenue $ 43 $ 29 $ 88 $ 59 Sales and marketing expense 164 46 258 80 Research and development expense 188 94 375 180 General and administrative expense 460 449 823 1,043 $ 855 $ 618 $ 1,544 $ 1,362 Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Stock-based compensation expense by type: Employee stock purchase plan $ 635 $ 291 $ 1,066 $ 512 Non-employee stock purchase plan 140 327 312 850 Subsidiary option grants 80 - 166 - $ 855 $ 618 $ 1,544 $ 1,362 Employee Awards The following table summarizes the Company’s employee share option activities during the six months ended June 30, 2020: Number of Weighted Weighted Average Exercise Price Weighted Average Outstanding at December 31, 2019 2,994,063 $ 2.59 $ 6.77 7.05 years Granted 708,399 9.88 24.13 - Exercised (41,172 ) 2.71 6.47 Expired - - - Forfeited/cancelled (39,120 ) 5.10 13.46 Outstanding at June 30, 2020 3,622,170 $ 3.98 $ 10.10 7.16 years Vested and exercisable at June 30, 2020 1,997,526 As of June 30, 2020 and December 31, 2019, $ and $ , respectively, of total unrecognized employee stock-based compensation expense, net of estimated forfeitures, related to stock-based awards for ACM were expected to be recognized over a weighted-average period of years and years, respectively. Total recognized compensation cost may be adjusted for future changes in estimated forfeitures. Non-employee Awards The following table summarizes ACM’s non-employee stock option activities during the six months ended June 30, 2020: Number of Weighted Weighted Average Exercise Price Weighted Average Remaining Contractual Term Outstanding at December 31, 2019 1,101,613 $ 0.82 $ 2.69 5.85 years Granted 20,000 10.29 25.60 - Exercised (144,731 ) 1.22 4.19 Expired - Forfeited/cancelled - Outstanding at June 30, 2020 976,882 $ 0.95 $ 2.93 5.39 years Vested and exercisable at June 30, 2020 929,397 As of June 30, 2020 and December 31, 2019, $ and $ , respectively, of total unrecognized non-employee stock-based compensation expense, net of estimated forfeitures, related to stock-based awards were expected to be recognized over a weighted-average period of years and years, respectively. Total recognized compensation cost may be adjusted for future changes in estimated forfeitures. The fair value of options granted to employee and non-employee with a is estimated on the grant date using the Black-Scholes valuation model with the following assumptions. Six Months Ended June 30 , 2020 Fair value of common share(1) $ - Expected term in years(2) 5.50 - Volatility(3) 42.17% - Risk-free interest rate(4) 0.51% - Expected dividend(5) 0% (1) Common stock value was the close market value on the grant date. (2) Expected term of share options is based on the average of the vesting period and the contractual term for each grant according to Staff Accounting Bulletin 110. (3) Volatility is calculated based on the historical volatility of ACM’s comparable companies in the period equal to the expected term of each grant. (4) Risk-free interest rate is based on the yields of U.S. Treasury securities with maturities similar to the expected term of the share options in effect at the time of grant. (5) Expected dividend is assumed to be 0% as ACM has no history or expectation of paying a dividend on its common stock. The fair value of option granted to employee with is estimated on the grant date using the Monte Carlo simulation model with the following assumptions. Six Months Ended June 30 , 2020 Fair value of common share(1) $ Expected term in years(2) 9.20 - Volatility(3) 45.10% Risk-free interest rate(4) 2.68% Expected dividend(5) 0% (1) Common stock value was the close market value on the grant date. (2) Expected term of share options is based on the average of the vesting period and the contractual term for each grant according to Staff Accounting Bulletin 110. (3) Volatility is calculated based on the historical volatility of ACM’s comparable companies in the period equal to the expected term of each grant. (4) Risk-free interest rate is based on the yields of U.S. Treasury securities with maturities similar to the expected term of the share options in effect at the time of grant. (5) Expected dividend is assumed to be 0% as ACM has no history or expectation of paying a dividend on its common stock. ACM Shanghai Option Grants The following table summarizes the ACM Shanghai employee stock option activities during the six months ended June 30, 2020: Number of Weighted Weighted Average Exercise Price Weighted Average Outstanding at December 31, 2019 - $ - $ - - Granted 5,869,808 0.22 1.87 Exercised - - - Expired - - - Forfeited/cancelled (330,770 ) 0.23 1.87 Outstanding at June 30, 2020 5,539,038 $ 0.22 $ 1.87 4.01 years Vested and exercisable at June 30, 2020 - During the three and six months ended June 30, 2020, As of June 30, 2020, $ of total unrecognized non-employee stock-based compensation expense, net of estimated forfeitures, related to ACM Shanghai stock-based awards were expected to be recognized over a weighted-average period of years. Total recognized compensation cost may be adjusted for future changes in estimated forfeitures.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2020
INCOME TAXES [Abstract]
INCOME TAXES	NOTE 16 – INCOME TAXES Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period during which such rates are enacted. The Company considers all available evidence to determine whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become realizable. Management considers the scheduled reversal of deferred tax liabilities (including the impact of available carryback and carry-forward periods) and projected taxable income in assessing the realizability of deferred tax assets. In making such judgments, significant weight is given to evidence that can be objectively verified. As of each reporting date, management considers new evidence, both positive and negative, that could affect its view of the future realization of deferred tax assets. Prior to September 30, 2019, the Company had recorded a valuation allowance for the full amount of net deferred tax assets in the United States, as the realization of deferred tax assets was uncertain. Since September 30, 2019, the Company has not maintained a valuation allowance except for a partial valuation allowance on certain U.S. deferred tax assets. In order to recognize the remaining U.S. deferred tax assets that continue to be subject to a valuation allowance, the Company will need to generate sufficient U.S. taxable income in future periods before the expiration of the deferred tax assets governed by the tax code. ACM Shanghai has shown a three-year historical cumulative profit and has projections of future income. As a result, the Company does not maintain a valuation allowance. The Company accounts for uncertain tax positions in accordance with the authoritative guidance on income taxes under which the Company may only recognize or continue to recognize tax positions that meet a more likely than not threshold. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as a component of the provision for income taxes. The Company’s effective tax rate differs from statutory rates of 21% for U.S. federal income tax purposes and 15% to 25% for Chinese income tax purposes due to the effects of the valuation allowance and certain permanent differences from book-tax differences. As a result, the Company recorded income tax expense of $1,859 and $876 during the three months ended June 30, 2020 and 2019, respectively, and $ and $ during the six months ended June 30, 2020 and 2019, respectively. As of June 30, 2020, the Company’s total unrecognized tax benefits were $155, which would not affect the effective tax rate if recognized. The Company will recognize interest and penalties, when they occur, related to uncertain tax provisions as a component of tax expense. No interest or penalties were recognized for the six months ended June 30, 2020. The Company files income tax returns in the United States and state and foreign jurisdictions. The federal, state and foreign income tax returns are under the statute of limitations subject to tax examinations for the tax years ended December 31, 2009 through December 31, 2019. To the extent the Company has tax attribute carry-forwards, the tax years in which the attribute was generated may still be adjusted upon examination by the U.S. Internal Revenue Service, state or foreign tax authorities to the extent utilized in a future period. The Company’s effective tax rate differs from statutory rates of for U.S. federal income tax purposes and to for Chinese income tax purposes due to the effects of the valuation allowance and certain permanent differences as it pertains to book-tax differences in the value of client equity securities received for services. The Company’s PRC subsidiaries, ACM Shanghai, ACM Wuxi and ACM Shengwei, are liable for PRC corporate income taxes at the rates of , and respectively. Pursuant to the Corporate Income Tax Law of the PRC, ACM’s PRC subsidiaries generally would be liable for PRC corporate income taxes as a rate of . According to Guoshuihan No. an entity certified as an “advanced and new technology enterprise” is entitled to a preferential income tax rate of . ACM Shanghai was certified as an “advanced and new technology enterprise” in and again in and with an effective period of . ACM files income tax returns in the United States and state and foreign jurisdictions. Those federal, state and foreign income tax returns are under the statute of limitations subject to tax examinations for 2009 through 2019. To the extent ACM has tax attribute carryforwards, the tax years in which the attribute was generated may still be adjusted upon examination by the U.S. Internal Revenue Service or state or foreign tax authorities to the extent utilized in a future period. The U.S. Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted on March 27, 2020. It contains several provisions that may have financial statement effects. Key aspects of the CARES Act include the following: • repealed the 80% taxable income limitation for 2018, 2019 and 2020, and allows those years to be carried back up to five years; • allows corporations to claim 100% of AMT credits in 2019, and provides for an election to take the entire refundable credit amount in 2018; • raised the Section 163(j) ATI limit from 30% to 50% for businesses; and • made technical corrections to TCJA for Qualified Improvement Property (“QIP”) and designates QIP as 15-year property for depreciation purposes, which makes QIP a category eligible for 100% bonus depreciation The CARES Act is not expected to have a material impact on income taxes in the Company’s consolidated financial statements. Income tax expense was as follows: Six Months Ended June 30, Three Months Ended June 30, 2020 2019 2020 2019 (in thousands) (in thousands) Total income tax expense $ (2,163 ) $ (995 ) $ (1,859 ) $ (876 )

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2020
COMMITMENTS AND CONTINGENCIES [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 17 – COMMITMENTS AND CONTINGENCIES The Company leases offices under non-cancelable operating lease agreements. See note for future minimum lease payments under non-cancelable operating lease agreements with initial terms of year or more. As of June the Company had of open capital commitments. During the and months ended June ACM Shengwei entered into a Grant Contract for State-owned Construction Land Use Right in Shanghai City, with the China (Shanghai) Pilot Free Trade Zone Lin-gang Special Area Administration to acquire a land use right for approximately square meters acres) of land in the Lingang Heavy Equipment Industrial Zone of Lin-gang Special Area of China (Shanghai) pilot free trade zone for a period of at an aggregate price of RMB ( ). As at June the Company had fully paid the aggregate price for the land use right, which is recorded in other long-term assets in the condensed consolidated balance sheets, and a performance deposit of RMB ( ), which is equal to of the aggregate land use right cost, to secure its achievement of certain performance milestones. The portion of this performance deposit that is expected to be refunded within is recorded in other receivables in the condensed consolidated balance sheets, and the portion of this performance deposit that is expected to be refunded after more than year was recorded in other long-term assets in the condensed consolidated balance sheets. Covenants in the Grant Contract require that, among other things, ACM Shengwei will be required to pay liquidated damages in the event that (a) it does not make a total investment (including the costs of construction, fixtures, equipment and grant fees) of at least RMB ( ) or (b) within after the land use right is obtained, the Company does not (i) generate a minimum specified amount of annual sales of products manufactured on the granted land or (ii) pay to the PRC at least RMB ( ) in annual total taxes (including value-added taxes, corporate income tax, personal income taxes, urban maintenance and construction taxes, education surcharges, stamp taxes, and vehicle and shipping taxes) as a result of operations in connection with the granted land. As of June the Company has paid RMB ( ) deposit for a potential purchase of housing properties which was recorded in other long-term assets in the condensed consolidated balance sheets. From time to time the Company is subject to legal proceedings, including claims in the ordinary course of business and claims with respect to patent infringements. As of June the Company did t have any legal proceedings.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	6 Months Ended
	Jun. 30, 2020
SUBSEQUENT EVENT [Abstract]
SUBSEQUENT EVENT	NOTE 18 – SUBSEQUENT EVENT On July 16, 2020, SMIC completed its offering on the STAR Market (note 10) and priced its offered shares at RMB 27.46 ($3.89) per share, for total proceeds of RMB 46.3 billion ($6,550,000). The Partnership participated in the offering and acquired an aggregate of 80,589,949 shares, for a total of RMB 2.224 billion ($315,000). On July 29, 2020, ACM and SMC entered into an amended agreement under which, in settlement of the SMC Consideration, ACM issued to SMC a warrant to purchase 242,681 shares of Class A common stock at a purchase price of $7.50 per share and ACM cancelled the SMC Note.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2020
SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The Company’s consolidated financial statements include the accounts of ACM and its subsidiaries, including ACM Shanghai and its subsidiaries, which include ACM Wuxi, ACM Shengwei and CleanChip (the subsidiaries of which include ACM California and ACM Korea). ACM’s subsidiaries are those entities in which ACM, directly and indirectly, controls more than one half of the voting power. All significant intercompany transactions and balances have been eliminated upon consolidation. The accompanying condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and the rules and regulations of the Securities and Exchange Commission for reporting on Form 10-Q. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. The unaudited condensed consolidated financial statements herein should be read in conjunction with the historical consolidated financial statements of the Company for the year ended December 31, 2019 included in ACM’s Annual Report on Form 10-K for the year ended December 31, 2019. The accompanying condensed consolidated balance sheet as of June 30, 2020, condensed consolidated statements of operations and comprehensive income for the three and six months ended June 30, 2020 and 2019, condensed consolidated statements of changes in stockholders’ equity for the three and six months ended June 30, 2020 and 2019, and condensed consolidated statements of cash flows for the six months ended June 30, 2020 and 2019 are unaudited. In the opinion of management, the unaudited condensed consolidated financial statements of the Company reflect all adjustments that are necessary for a fair presentation of the Company’s financial position and results of operations. Such adjustments are of a normal recurring nature, unless otherwise noted. The balance sheet as of June 30, 2020 and the results of operations for the three and six months ended June 30, 2020 are not necessarily indicative of the results to be expected for any future period.
COVID-19 Assessment	COVID-19 Assessment The outbreak of COVID-19, the coronavirus, has grown both in the United States and globally, and related government and private sector responsive actions have adversely affected the Company’s business operations. In December 2019 a series of emergency quarantine measures taken by the PRC government disrupted domestic business activities during the weeks after the initial outbreak of COVID-19. Since that time, an increasing number of countries, including the United States, have imposed restrictions on travel to and from the PRC and elsewhere, as well as general movement restrictions, business closures and other measures imposed to slow the spread of COVID-19. The situation continues to develop, however, and it is impossible to predict the effect and ultimate impact of the COVID-19 outbreak on the Company’s business operations and results. While the quarantine, social distancing and other regulatory measures instituted or recommended in response to COVID-19 are expected to be temporary, the duration of the business disruptions, and related financial impact, cannot be estimated at this time. The COVID-19 outbreak has been declared a worldwide health pandemic that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn and changes in global economic policy that could reduce demand for the Company’s products and its customers’ chips and have a material adverse impact on the Company’s business, operating results and financial condition. Through June 30, 2020 the Company did not experience significant negative impact of COVID-19 on its operations, capital and financial resources, including overall liquidity position.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the balance sheet date and the reported revenue and expenses during the reported period in the condensed consolidated financial statements and accompanying notes. The Company’s significant accounting estimates and assumptions include, but are not limited to, those used for the valuation and recognition of stock-based compensation arrangements and valuation of financial liability, realization of deferred tax assets, assessment for impairment of long-lived assets, allowance for doubtful accounts, inventory valuation for excess and obsolete inventories, lower of cost and market value or net realizable value of inventories, depreciable lives of property and equipment, and useful life of intangible assets. Management believes that the estimates, judgments and assumptions are reasonable, based on information available at the time they are made. Actual results could differ materially from those estimates.
Basic and Diluted Net Income per Common Share	Basic and Diluted Net Income per Common Share Basic and diluted net income per common share is calculated as follows: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Numerator: Net income $ 496 $ 4,311 $ 2,459 $ 6,168 Net income attributable to non-controlling interests and redeemable non-controlling interests 577 - 835 - Net income (loss) available to common stockholders, basic and diluted $ (81 ) $ 4,311 $ 1,624 $ 6,168 Weighted average shares outstanding, basic 18,050,841 16,090,937 18,085,602 16,067,924 Effect of dilutive securities 3,465,334 2,513,410 3,111,601 2,387,610 Weighted average shares outstanding, diluted 21,516,175 18,604,347 21,197,203 18,455,534 Net income (loss) per common share: Basic $ (0.00 ) $ 0.27 $ 0.09 $ 0.38 Diluted $ (0.00 ) $ 0.23 $ 0.08 $ 0.33 ACM has been authorized to issue Class A and Class B common stock since redomesticating in Delaware in November 2016. The two classes of common stock are substantially identical in all material respects, except for voting rights. Since ACM did not declare any dividends during the three and six months ended June 30, 2020 and 2019, the net income per common share attributable to each class is the same under the “two-class” method. As such, the two classes of common stock have been presented on a combined basis in the condensed consolidated statements of operations and comprehensive income and in the above computation of net income per common share. Diluted net income per common share reflects the potential dilution from securities that could share in ACM’s earnings. ACM’s potential dilutive securities consist of warrants and stock options for the three and six months ended June 30, 2020 and 2019.
Concentration of Credit Risk	Concentration of Credit Risk The Company is potentially subject to concentrations of credit risks in its accounts receivable. For the six months ended June 30, 2020 and 2019, the Company’s three largest customers accounted for 92.4% and 72.1%, respectively, of revenue. For the three months ended June 30, 2020 and 2019, the Company’s three largest customers accounted for 91.0% and 89.9%, respectively, of revenue. As of June 30, 2020 and December 31, 2019, the Company’s three largest customers accounted for 83.9% and 67.7%, respectively, of the Company’s accounts receivables. The Company believes that the receivable balances from these largest customers do not represent a significant credit risk based on past collection experience.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In August 2018, the Financial Accounting Standards Board Fair Value Measurement (Topic 820) Recent Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Financial Instruments – Credit Losses (Topic 326), Derivatives and Hedging (Topic 815) and Leases (Topic 842), In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes

DESCRIPTION OF BUSINESS (Tables

DESCRIPTION OF BUSINESS (Tables)	6 Months Ended
	Jun. 30, 2020
DESCRIPTION OF BUSINESS [Abstract]
Direct or Indirect Interests of Subsidiaries	The Company has direct or indirect interests in the following subsidiaries: Effective interest held as at Name of subsidiaries Place and date of incorporation June 30, 2020 December 31, 2019 ACM Research (Shanghai), Inc. China, May 2005 91.7 % 91.7 % ACM Research (Wuxi), Inc. China, July 2011 91.7 % 91.7 % CleanChip Technologies Limited Hong Kong, June 2017 91.7 % 91.7 % ACM Research Korea CO., LTD. Korea, December 2017 91.7 % 91.7 % Shengwei Research (Shanghai), Inc. China, March 2019 91.7 % 91.7 % ACM Research (CA), Inc. USA, June 2019 91.7 % 91.7 % ACM Research (Cayman), Inc. Cayman Islands, April 2019 100.0 % 100.0 %

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2020
SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Basic and Diluted Net Income per Common Share	Basic and diluted net income per common share is calculated as follows: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Numerator: Net income $ 496 $ 4,311 $ 2,459 $ 6,168 Net income attributable to non-controlling interests and redeemable non-controlling interests 577 - 835 - Net income (loss) available to common stockholders, basic and diluted $ (81 ) $ 4,311 $ 1,624 $ 6,168 Weighted average shares outstanding, basic 18,050,841 16,090,937 18,085,602 16,067,924 Effect of dilutive securities 3,465,334 2,513,410 3,111,601 2,387,610 Weighted average shares outstanding, diluted 21,516,175 18,604,347 21,197,203 18,455,534 Net income (loss) per common share: Basic $ (0.00 ) $ 0.27 $ 0.09 $ 0.38 Diluted $ (0.00 ) $ 0.23 $ 0.08 $ 0.33

ACCOUNTS RECEIVABLE (Tables)

ACCOUNTS RECEIVABLE (Tables)	6 Months Ended
	Jun. 30, 2020
ACCOUNTS RECEIVABLE [Abstract]
Accounts Receivable	At June 30, 2020 and December 31, 2019, accounts receivable consisted of the following: June 30, 2020 December 31, 2019 Accounts receivable $ 58,903 $ 31,091 Less: Allowance for doubtful accounts - - Total $ 58,903 $ 31,091

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Jun. 30, 2020
INVENTORIES [Abstract]
Inventory	At June 30, 2020 and December 31, 2019, inventory consisted of the following: June 30, 2020 December 31, 2019 Raw materials $ 18,569 $ 15,105 Work in process 14,203 10,407 Finished goods 17,000 19,284 Total inventory $ 49,772 $ 44,796

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)	6 Months Ended
	Jun. 30, 2020
PROPERTY, PLANT AND EQUIPMENT, NET [Abstract]
Property, Plant and Equipment	At June 30, 2020 and December 31, 2019, property, plant and equipment consisted of the following: June 30, 2020 December 31, 2019 Manufacturing equipment $ 3,936 $ 3,902 Office equipment 762 627 Transportation equipment 171 124 Leasehold improvement 1,428 1,442 Total cost 6,297 6,095 Less: Total accumulated depreciation (3,447 ) (3,077 ) Construction in progress 1,106 601 Total property, plant and equipment, net $ 3,956 $ 3,619

SHORT-TERM BORROWINGS (Tables)

SHORT-TERM BORROWINGS (Tables)	6 Months Ended
	Jun. 30, 2020
SHORT-TERM BORROWINGS [Abstract]
Short-Term Borrowings	At June 30, 2020 and December 31, 2019, short-term borrowings consisted of the following: June 30, 2020 December 31, 2019 Line of credit up to RMB 50,000 from Bank of Shanghai Pudong Branch, due on January 23, 2020 with an annual interest rate of 5.22%, guaranteed by Dr. David Wang, the Chief Executive Officer and President of ACM (the “CEO”) and CleanChip Technologies Limited. It was fully repaid on January 23, 2020. - 5,057 Line of credit up to RMB 20,000 from Shanghai Rural Commercial Bank, due on February 21, 2020 with an annual interest rate of 5.66%, guaranteed by the CEO and pledged by accounts receivable. It was fully repaid on February 21, 2020. - 1,433 Line of credit up to RMB 20,000 from Bank of Communications, due on January 18, 2020 with an annual interest rate of 5.66% and fully repaid on January 19, 2020. - 1,433 Line of credit up to RMB 20,000 from Bank of Communications, due on January 22, 2020 with an annual interest rate of 5.66% and fully repaid on January 22, 2020. - 717 Line of credit up to RMB 20,000 from Bank of Communications, due on February 14, 2020 with an annual interest rate of 5.66% and fully repaid on February 14, 2020. - 717 Line of credit up to RMB 50,000 from China Everbright Bank, due on March 25, 2020 with an annual interest rate of 4.94%, guaranteed by the CEO and fully repaid on March 24, 2020. - 3,250 Line of credit up to RMB 50,000 from China Everbright Bank, due on April 17, 2020 with an annual interest rate of 5.66%, guaranteed by the CEO and fully repaid on April 2, 2020. - 1,146 Line of credit up to RMB 50,000 from China Everbright Bank, due on August 24, 2020 with an annual interest rate of 5.22%, guaranteed by the CEO. 2,685 - Line of credit up to RMB 80,000 from China Everbright Bank, due on April 1, 2021 with an annual interest rate of 4.70%, guaranteed by the CEO. 4,239 Line of credit up to RMB 80,000 from China Everbright Bank, due on June 27, 2021 with an annual interest rate of 4.25%, guaranteed by the CEO. 1,272 Line of credit up to RMB 80,000 from China Everbright Bank, due on April 29, 2021 with an annual interest rate of 2.80%, guaranteed by the CEO. 820 Line of credit up to RMB 80,000 from China Everbright Bank, due on June 27, 2021 with an annual interest rate of 2.70%, guaranteed by the CEO. 2,081 Line of credit up to RMB 20,000 from Bank of Communications, due on April 12, 2021 with an annual interest rate of 4.65%. 1,413 Line of credit up to RMB 20,000 from Bank of Communications, due on May 24, 2021 with an annual interest rate of 3.65%. 1,413 Line of credit up to RMB 70,000 from Bank of Shanghai Pudong Branch, due on May 27, 2021 with an annual interest rate of 4.68%, guaranteed by the CEO and CleanChip Technologies Limited. 2,374 Line of credit up to RMB 70,000 from Bank of Shanghai Pudong Branch, due on June 27, 2021 with an annual interest rate of 4.68%, guaranteed by the CEO and CleanChip Technologies Limited. 1,272 Line of credit up to RMB 70,000 from Bank of Shanghai Pudong Branch, due on May 28, 2021 with an annual interest rate of 3.48%, guaranteed by the CEO and CleanChip Technologies Limited. 2,442 Line of credit up to RMB 70,000 from Bank of Shanghai Pudong Branch, due on June 7, 2021 with an annual interest rate of 3.50%, guaranteed by the CEO and CleanChip Technologies Limited. 1,521 Line of credit up to RMB 70,000 from Bank of Shanghai Pudong Branch, due on June 16, 2021 with an annual interest rate of 3.50%, guaranteed by the CEO and CleanChip Technologies Limited. 1,838 Line of credit up to RMB 30,000 from Bank of China Pudong Branch, due on December 17, 2020 with annual interest rate of 4.35%, guaranteed by the CEO. 2,402 Total $ 25,772 $ 13,753

OTHER PAYABLE AND ACCRUED EXP_2

OTHER PAYABLE AND ACCRUED EXPENSES (Tables)	6 Months Ended
	Jun. 30, 2020
OTHER PAYABLE AND ACCRUED EXPENSES [Abstract]
Other Payable and Accrued Expenses	At June 30, 2020 and December 31, 2019, other payable and accrued expenses consisted of the following: June 30, 2020 December 31, 2019 Accrued commissions $ 5,720 $ 4,082 Accrued warranty 3,284 2,811 Accrued payroll 1,907 2,092 Accrued professional fees 66 165 Accrued machine testing fees 1,426 1,456 Others 2,954 2,268 Total $ 15,357 $ 12,874

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2020
LEASES [Abstract]
Components of Lease Expense	The components of lease expense were as follows: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Operating lease cost $ 378 $ 264 $ 755 $ 701 Short-term lease cost 47 7 97 25 Lease cost $ 425 $ 271 $ 852 $ 726
Supplemental Cash Flow Information Related to Operating Leases	Supplemental cash flow information related to operating leases was as follows for the three and six-month periods ended June 30, 2020 Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflow from operating leases $ 425 $ 271 $ 852 $ 726
Maturities of Lease Liabilities for Operating Leases	Maturities of lease liabilities for all operating leases were as follows as of June 30, 2020 December 31, 2020 $ 755 2021 1,496 2022 1,496 2023 874 2024 834 Total lease payments 5,455 Less: Interest (807 ) Present value of lease liabilities $ 4,648
Weighted Average Remaining Lease Terms and Discount Rates for Operating Leases	The weighted average remaining lease terms and discount rates for all operating leases were as follows as of June 30, 2020 and December 31, 2019 June 30, 2020 December 31, 2019 Remaining lease term and discount rate: Weighted average remaining lease term (years) 2.37 3.02 Weighted average discount rate 5.29 % 5.43 %

OTHER LONG-TERM LIABILITIES (Ta

OTHER LONG-TERM LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2020
OTHER LONG-TERM LIABILITIES [Abstract]
Other Long-Term Liabilities	Other long-term liabilities represent subsidies that we have received from governmental authorities, including China’s Ministry of Science and Technology, the Shanghai Municipal Commission of Economy and Information, and the Shanghai Science and Technology Committee, for development and commercialization of certain technology but have not yet earned and recognized. As of June 30, 2020 and December 31, 2019, other long-term liabilities consisted of the following unearned government subsidies: June 30, 2020 December 31, 2019 Subsidies to Stress Free Polishing project, commenced in 2008 and 2017 $ 1,136 $ 1,251 Subsidies to Electro Copper Plating project, commenced in 2014 2,339 2,666 Subsidies to Polytetrafluoroethylene, commenced in 2018 120 135 Subsidies to Tahoe-Single Bench Clean, commenced in 2020 1,913 - Subsidies to Backside Clean-YMTC National Project, commenced in 2020 834 - Other 242 134 Total $ 6,584 $ 4,186

LONG-TERM INVESTMENT (Tables)

LONG-TERM INVESTMENT (Tables)	6 Months Ended
	Jun. 30, 2020
LONG-TERM INVESTMENT [Abstract]
Components of Long-Term Investment	The components of long-term investments were as follows: June 30, 2020 December 31, 2019 Ninebell $ 1,891 $ 1,538 Shengyi 128 107 Hefei Shixi 4,211 4,289 Qingdao LP 14,130 - Total $ 20,360 $ 5,934

RELATED PARTY BALANCES AND TR_2

RELATED PARTY BALANCES AND TRANSACTIONS (Tables)	6 Months Ended
	Jun. 30, 2020
RELATED PARTY BALANCES AND TRANSACTIONS [Abstract]
Related Party Balances and Transactions	Prepaid expenses June 30, 2020 December 31, 2019 Ninebell $ 878 $ 348 Accounts payable June 30, 2020 December 31, 2019 Ninebell $ 2,261 $ 727 Shengyi 528 488 Total $ 2,789 $ 1,215 Three months ended Six months ended Purchase of materials 2020 2019 2020 2019 Ninebell $ 3,370 $ 2,483 $ 5,523 $ 4,803 Shengyi 456 192 514 192 Total $ 3,826 $ 2,675 $ 6,037 4,995 Three months ended June 30 Six Months ended June 30 Service fee charged by 2020 2019 2020 2019 Shengyi $ 144 $ - 190 $ -

REDEEMABLE NON-CONTROLLING IN_2

REDEEMABLE NON-CONTROLLING INTERESTS (Tables)	6 Months Ended
	Jun. 30, 2020
REDEEMABLE NON-CONTROLLING INTERESTS [Abstract]
Components of Change in Redeemable Non-controlling Interests	The components of the change in redeemable non-controlling interests for the six months ended June 30, 2020 are presented in the following table: Balance at December 31, 2019 $ 60,162 Net income attributable to redeemable non-controlling interests 643 Effect of foreign currency translation gain attributable to redeemable non-controlling interests (847 ) Reclassification of redeemable non-controlling interest (59,958 ) Balance at June 30, 2020 $ -

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2020
Stock-Based Compensation [Abstract]
Components of Stock-based Compensation Expense	The following table summarizes the components of stock-based compensation expense included in the consolidated statements of operations: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Stock-Based Compensation Expense: Cost of revenue $ 43 $ 29 $ 88 $ 59 Sales and marketing expense 164 46 258 80 Research and development expense 188 94 375 180 General and administrative expense 460 449 823 1,043 $ 855 $ 618 $ 1,544 $ 1,362 Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Stock-based compensation expense by type: Employee stock purchase plan $ 635 $ 291 $ 1,066 $ 512 Non-employee stock purchase plan 140 327 312 850 Subsidiary option grants 80 - 166 - $ 855 $ 618 $ 1,544 $ 1,362
Assumptions Used to Determine Fair Value of Share Options Granted	The fair value of options granted to employee and non-employee with a is estimated on the grant date using the Black-Scholes valuation model with the following assumptions. Six Months Ended June 30 , 2020 Fair value of common share(1) $ - Expected term in years(2) 5.50 - Volatility(3) 42.17% - Risk-free interest rate(4) 0.51% - Expected dividend(5) 0% (1) Common stock value was the close market value on the grant date. (2) Expected term of share options is based on the average of the vesting period and the contractual term for each grant according to Staff Accounting Bulletin 110. (3) Volatility is calculated based on the historical volatility of ACM’s comparable companies in the period equal to the expected term of each grant. (4) Risk-free interest rate is based on the yields of U.S. Treasury securities with maturities similar to the expected term of the share options in effect at the time of grant. (5) Expected dividend is assumed to be 0% as ACM has no history or expectation of paying a dividend on its common stock. The fair value of option granted to employee with is estimated on the grant date using the Monte Carlo simulation model with the following assumptions. Six Months Ended June 30 , 2020 Fair value of common share(1) $ Expected term in years(2) 9.20 - Volatility(3) 45.10% Risk-free interest rate(4) 2.68% Expected dividend(5) 0% (1) Common stock value was the close market value on the grant date. (2) Expected term of share options is based on the average of the vesting period and the contractual term for each grant according to Staff Accounting Bulletin 110. (3) Volatility is calculated based on the historical volatility of ACM’s comparable companies in the period equal to the expected term of each grant. (4) Risk-free interest rate is based on the yields of U.S. Treasury securities with maturities similar to the expected term of the share options in effect at the time of grant. (5) Expected dividend is assumed to be 0% as ACM has no history or expectation of paying a dividend on its common stock.
Employee Share Option [Member]
Stock-Based Compensation [Abstract]
Summary of Share Option Activities	The following table summarizes the Company’s employee share option activities during the six months ended June 30, 2020: Number of Weighted Weighted Average Exercise Price Weighted Average Outstanding at December 31, 2019 2,994,063 $ 2.59 $ 6.77 7.05 years Granted 708,399 9.88 24.13 - Exercised (41,172 ) 2.71 6.47 Expired - - - Forfeited/cancelled (39,120 ) 5.10 13.46 Outstanding at June 30, 2020 3,622,170 $ 3.98 $ 10.10 7.16 years Vested and exercisable at June 30, 2020 1,997,526
Employee Share Option [Member] | ACM Shanghai [Member]
Stock-Based Compensation [Abstract]
Summary of Share Option Activities	The following table summarizes the ACM Shanghai employee stock option activities during the six months ended June 30, 2020: Number of Weighted Weighted Average Exercise Price Weighted Average Outstanding at December 31, 2019 - $ - $ - - Granted 5,869,808 0.22 1.87 Exercised - - - Expired - - - Forfeited/cancelled (330,770 ) 0.23 1.87 Outstanding at June 30, 2020 5,539,038 $ 0.22 $ 1.87 4.01 years Vested and exercisable at June 30, 2020 -
Non-Employee Stock Option [Member]
Stock-Based Compensation [Abstract]
Summary of Share Option Activities	The following table summarizes ACM’s non-employee stock option activities during the six months ended June 30, 2020: Number of Weighted Weighted Average Exercise Price Weighted Average Remaining Contractual Term Outstanding at December 31, 2019 1,101,613 $ 0.82 $ 2.69 5.85 years Granted 20,000 10.29 25.60 - Exercised (144,731 ) 1.22 4.19 Expired - Forfeited/cancelled - Outstanding at June 30, 2020 976,882 $ 0.95 $ 2.93 5.39 years Vested and exercisable at June 30, 2020 929,397

INCOME TAXES (Tables)

INCOME TAXES (Tables)	6 Months Ended
	Jun. 30, 2020
INCOME TAXES [Abstract]
Income Tax Expense	Income tax expense was as follows: Six Months Ended June 30, Three Months Ended June 30, 2020 2019 2020 2019 (in thousands) (in thousands) Total income tax expense $ (2,163 ) $ (995 ) $ (1,859 ) $ (876 )

DESCRIPTION OF BUSINESS (Detail

DESCRIPTION OF BUSINESS (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2020	Dec. 31, 2019
ACM Research (Shanghai), Inc. [Member]
Description of Business [Abstract]
Purchase of equity interest percentage			8.30%
Name of subsidiaries		ACM Research (Shanghai), Inc.
Term to complete listing of shares	3 years
Date and place of Incorporation		China, May 2005
Effective interest held as at		91.70%	91.70%
ACM Research (Wuxi), Inc. [Member]
Description of Business [Abstract]
Name of subsidiaries		ACM Research (Wuxi), Inc.
Date and place of Incorporation		China, July 2011
Effective interest held as at		91.70%	91.70%
CleanChip Technologies Limited [Member]
Description of Business [Abstract]
Proceeds from sale of interest in subsidiary			$ 3,500
Name of subsidiaries		CleanChip Technologies Limited
Date and place of Incorporation		Hong Kong, June 2017
Effective interest held as at		91.70%	91.70%
ACM Research Korea CO., LTD [Member]
Description of Business [Abstract]
Name of subsidiaries		ACM Research Korea CO., LTD.
Date and place of Incorporation		Korea, December 2017
Effective interest held as at		91.70%	91.70%
Shengwei Research (Shanghai), Inc. [Member]
Description of Business [Abstract]
Purchase of equity interest percentage			91.70%
Name of subsidiaries		Shengwei Research (Shanghai), Inc.
Date and place of Incorporation		China, March 2019
Effective interest held as at		91.70%	91.70%
ACM Research (CA), Inc. [Member]
Description of Business [Abstract]
Name of subsidiaries		ACM Research (CA), Inc.
Date and place of Incorporation		USA, June 2019
Effective interest held as at		91.70%	91.70%
ACM Research (Cayman), Inc. [Member]
Description of Business [Abstract]
Name of subsidiaries		ACM Research (Cayman), Inc.
Date and place of Incorporation		Cayman Islands, April 2019
Effective interest held as at		100.00%	100.00%

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES, Basic and Diluted Net Income per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Numerator [Abstract]
Net income	$ 496	$ 4,311	$ 2,459	$ 6,168
Net income attributable to non-controlling interests and redeemable non-controlling interests	577	0	835	0
Net income (loss) available to common stockholders, basic and diluted	$ (81)	$ 4,311	$ 1,624	$ 6,168
Weighted average shares outstanding, basic (in shares)	18,050,841	16,090,937	18,085,602	16,067,924
Effect of dilutive securities (in shares)	3,465,334	2,513,410	3,111,601	2,387,610
Weighted average shares outstanding, diluted (in shares)	21,516,175	18,604,347	21,197,203	18,455,534
Net income (loss) per common share:
Basic (in dollars per share)	$ 0	$ 0.27	$ 0.09	$ 0.38
Diluted (in dollars per share)	$ 0	$ 0.23	$ 0.08	$ 0.33

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES, Concentration of Credit Risk (Details) - Customer	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Accounts Receivable [Member]
Concentration of Credit Risk [Abstract]
Number of major customers	3	3	3	3
Concentration of credit risk	91.00%	89.90%	92.40%	72.10%
Revenue Benchmark [Member]
Concentration of Credit Risk [Abstract]
Number of major customers	3	3
Concentration of credit risk	83.90%	67.70%

ACCOUNTS RECEIVABLE (Details)

ACCOUNTS RECEIVABLE (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Accounts Receivable [Abstract]
Accounts receivable	$ 58,903	$ 31,091
Less: allowance for doubtful accounts	0	0
Total	58,903	31,091
Accounts receivable pledged as collateral for borrowings	$ 0	$ 1,433

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Inventory [Abstract]
Raw materials	$ 18,569	$ 15,105
Work in process	14,203	10,407
Finished goods	17,000	19,284
Total inventory	$ 49,772	$ 44,796

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Total cost	$ 6,297		$ 6,297		$ 6,095
Less: Total accumulated depreciation	(3,447)		(3,447)		(3,077)
Construction in progress	1,106		1,106		601
Total property, plant and equipment, net	3,956		3,956		3,619
Depreciation expense	189	$ 177	374	$ 352
Manufacturing Equipment [Member]
Property, Plant and Equipment [Abstract]
Total cost	3,936		3,936		3,902
Office Equipment [Member]
Property, Plant and Equipment [Abstract]
Total cost	762		762		627
Transportation Equipment [Member]
Property, Plant and Equipment [Abstract]
Total cost	171		171		124
Leasehold Improvement [Member]
Property, Plant and Equipment [Abstract]
Total cost	$ 1,428		$ 1,428		$ 1,442

SHORT-TERM BORROWINGS (Details)

SHORT-TERM BORROWINGS (Details) ¥ in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020CNY (¥)	Dec. 31, 2019USD ($)
Short-Term Borrowings [Abstract]
Short-term borrowings	$ 25,772		$ 25,772			$ 13,753
Interest expense related to short-term borrowings	228	$ 194	339	$ 333
Line of Credit Due on January 23, 2020 [Member]
Short-Term Borrowings [Abstract]
Short-term borrowings	0		$ 0			5,057
Maximum borrowing capacity | ¥					¥ 50,000
Annual interest rate			5.22%
Line of credit due date			Jan. 23, 2020
Line of Credit Due on February 21, 2020 [Member]
Short-Term Borrowings [Abstract]
Short-term borrowings	0		$ 0			1,433
Maximum borrowing capacity | ¥					20,000
Annual interest rate			5.66%
Line of credit due date			Feb. 21, 2020
Line of Credit Due on January 18, 2020 [Member]
Short-Term Borrowings [Abstract]
Short-term borrowings	0		$ 0			1,433
Maximum borrowing capacity | ¥					20,000
Annual interest rate			5.66%
Line of credit due date			Jan. 19, 2020
Line of Credit Due on January 22, 2020 [Member]
Short-Term Borrowings [Abstract]
Short-term borrowings	0		$ 0			717
Maximum borrowing capacity | ¥					20,000
Annual interest rate			5.66%
Line of credit due date			Jan. 22, 2020
Line of Credit Due on February 14, 2020 [Member]
Short-Term Borrowings [Abstract]
Short-term borrowings	0		$ 0			717
Maximum borrowing capacity | ¥					20,000
Annual interest rate			5.66%
Line of credit due date			Feb. 14, 2020
Line of Credit Due on March 25, 2020 [Member]
Short-Term Borrowings [Abstract]
Short-term borrowings	0		$ 0			3,250
Maximum borrowing capacity | ¥					50,000
Annual interest rate			4.94%
Line of credit due date			Mar. 24, 2020
Line of Credit Due on April 17, 2020 [Member]
Short-Term Borrowings [Abstract]
Short-term borrowings	0		$ 0			$ 1,146
Maximum borrowing capacity | ¥					50,000
Annual interest rate			5.66%
Line of credit due date			Apr. 2, 2020
Line of Credit Due on August 24, 2020 [Member]
Short-Term Borrowings [Abstract]
Short-term borrowings	2,685		$ 2,685
Maximum borrowing capacity | ¥					50,000
Annual interest rate			5.22%
Line of credit due date			Aug. 24, 2020
Line of Credit Due on April 1, 2021 [Member]
Short-Term Borrowings [Abstract]
Short-term borrowings	4,239		$ 4,239
Maximum borrowing capacity | ¥					80,000
Annual interest rate			4.70%
Line of credit due date			Apr. 1, 2021
Line of Credit Due on June 27, 2021 [Member]
Short-Term Borrowings [Abstract]
Short-term borrowings	1,272		$ 1,272
Maximum borrowing capacity | ¥					80,000
Annual interest rate			4.25%
Line of credit due date			Jun. 27, 2021
Line of Credit Due on April 29, 2021 [Member]
Short-Term Borrowings [Abstract]
Short-term borrowings	820		$ 820
Maximum borrowing capacity | ¥					80,000
Annual interest rate			2.80%
Line of credit due date			Apr. 29, 2021
Line of Credit Due on June 27, 2021 [Member]
Short-Term Borrowings [Abstract]
Short-term borrowings	2,081		$ 2,081
Maximum borrowing capacity | ¥					80,000
Annual interest rate			2.70%
Line of credit due date			Jun. 27, 2021
Line of Credit Due on April 12, 2021 [Member]
Short-Term Borrowings [Abstract]
Short-term borrowings	1,413		$ 1,413
Maximum borrowing capacity | ¥					20,000
Annual interest rate			4.65%
Line of credit due date			Apr. 12, 2021
Line of Credit Due on May 24, 2021 [Member]
Short-Term Borrowings [Abstract]
Short-term borrowings	1,413		$ 1,413
Maximum borrowing capacity | ¥					20,000
Annual interest rate			3.65%
Line of credit due date			May 24, 2021
Line of Credit Due on May 27, 2021 [Member]
Short-Term Borrowings [Abstract]
Short-term borrowings	2,374		$ 2,374
Maximum borrowing capacity | ¥					70,000
Annual interest rate			4.68%
Line of credit due date			May 27, 2021
Line of Credit Due on June 27, 2021 [Member]
Short-Term Borrowings [Abstract]
Short-term borrowings	1,272		$ 1,272
Maximum borrowing capacity | ¥					70,000
Annual interest rate			4.68%
Line of credit due date			Jun. 27, 2021
Line of Credit Due on May 28, 2021 [Member]
Short-Term Borrowings [Abstract]
Short-term borrowings	2,442		$ 2,442
Maximum borrowing capacity | ¥					70,000
Annual interest rate			3.48%
Line of credit due date			May 28, 2021
Line of Credit Due on June 7, 2021 [Member]
Short-Term Borrowings [Abstract]
Short-term borrowings	1,521		$ 1,521
Maximum borrowing capacity | ¥					70,000
Annual interest rate			3.50%
Line of credit due date			Jun. 7, 2021
Line of Credit Due on June 16, 2021 [Member]
Short-Term Borrowings [Abstract]
Short-term borrowings	1,838		$ 1,838
Maximum borrowing capacity | ¥					70,000
Annual interest rate			3.50%
Line of credit due date			Jun. 16, 2021
Line of Credit Due on December 17, 2020 [Member]
Short-Term Borrowings [Abstract]
Short-term borrowings	$ 2,402		$ 2,402
Maximum borrowing capacity | ¥					¥ 30,000
Annual interest rate			4.35%
Line of credit due date			Dec. 17, 2020

OTHER PAYABLE AND ACCRUED EXP_3

OTHER PAYABLE AND ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
OTHER PAYABLE AND ACCRUED EXPENSES [Abstract]
Accrued commissions	$ 5,720	$ 4,082
Accrued warranty	3,284	2,811
Accrued payroll	1,907	2,092
Accrued professional fees	66	165
Accrued machine testing fees	1,426	1,456
Others	2,954	2,268
Total	$ 15,357	$ 12,874

LEASES (Details)

LEASES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Components of lease expense [Abstract]
Operating lease cost	$ 378	$ 264	$ 755	$ 701
Short-term lease cost	47	7	97	25
Lease cost	425	271	852	726
Cash paid for amounts included in the measurement of lease liabilities [Abstract]
Operating cash outflow from operating leases	425	$ 271	852	$ 726
Maturities of lease liabilities [Abstract]
2020	755		755
2021	1,496		1,496
2022	1,496		1,496
2023	874		874
2024	834		834
Total lease payments	5,455		5,455
Less: interest	(807)		(807)
Present value of lease liabilities	$ 4,648		$ 4,648
Weighted average remaining lease terms and discount rates [Abstract]
Weighted average remaining lease term	2 years 4 months 13 days		2 years 4 months 13 days		3 years 7 days
Weighted average discount rate	5.29%		5.29%		5.43%

OTHER LONG-TERM LIABILITIES (De

OTHER LONG-TERM LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Other Long-term Liabilities [Abstract]
Other long-term liabilities	$ 6,584	$ 4,186
Subsidies to Stress Free Polishing Project, Commenced in 2008 and 2017 [Member]
Other Long-term Liabilities [Abstract]
Other long-term liabilities	1,136	1,251
Subsidies to Electro Copper Plating Project, Commenced in 2014 [Member]
Other Long-term Liabilities [Abstract]
Other long-term liabilities	2,339	2,666
Subsidies to Polytetrafluoroethylene, Commenced in 2018 [Member]
Other Long-term Liabilities [Abstract]
Other long-term liabilities	120	135
Subsidies to Tahoe-Single Bench Clean, Commenced in 2020 [Member]
Other Long-term Liabilities [Abstract]
Other long-term liabilities	1,913	0
Subsidies to Backside Clean-YMTC National Project, Commenced in 2020
Other Long-term Liabilities [Abstract]
Other long-term liabilities	834	0
Other [Member]
Other Long-term Liabilities [Abstract]
Other long-term liabilities	$ 242	$ 134

LONG-TERM INVESTMENT (Details)

LONG-TERM INVESTMENT (Details) $ / shares in Units, $ in Thousands, ¥ in Millions	Sep. 05, 2019shares	Jun. 30, 2020USD ($)	Jun. 18, 2020USD ($)	Jun. 18, 2020CNY (¥)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 27, 2019USD ($)	Sep. 11, 2017USD ($)$ / sharesshares
Classification of Investments [Abstract]
Total		$ 20,360			$ 5,934
Ninebell [Member]
Investments [Abstract]
Percentage of ordinary shares issued								20.00%
Purchase price								$ 1,200
Classification of Investments [Abstract]
Total		1,891			1,538
Ninebell [Member] | Class A Common Stock [Member]
Investments [Abstract]
Purchase price								$ 1,000
Shares issued (in shares) | shares								133,334
Share price (in dollars per share) | $ / shares								$ 7.50
Shengyi [Member]
Investments [Abstract]
Percentage of ordinary shares issued							15.00%
Number of investors with agreements entered | shares	6
Investment - equity method							$ 109
Classification of Investments [Abstract]
Total		128			107
Hefei Shixi [Member]
Investments [Abstract]
Investment in partnership						$ 4,200
Ownership percentage in partnership						10.00%
Classification of Investments [Abstract]
Total		4,211			4,289
Qingdao LP [Member]
Investments [Abstract]
Investment in partnership			$ 14,200	¥ 100
Ownership percentage in partnership			4.30%	4.30%
Total capital fund of limited partnership			$ 315,000	¥ 2,224
Classification of Investments [Abstract]
Total		$ 14,130			$ 0
SMIC [Member] | Minimum [Member]
Investments [Abstract]
Ownership percentage in partnership		30.00%

FINANCIAL LIABILITY CARRIED A_2

FINANCIAL LIABILITY CARRIED AT FAIR VALUE (Details) $ / shares in Units, ¥ in Thousands, $ in Thousands	1 Months Ended				3 Months Ended		6 Months Ended
	Apr. 30, 2020USD ($)Agreementshares	Aug. 31, 2019USD ($)$ / sharesshares	Mar. 31, 2018USD ($)shares	Mar. 31, 2017USD ($)$ / sharesshares	Jun. 30, 2020USD ($)shares	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)shares	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2016CNY (¥)
Related Party Transaction [Abstract]
Financial liability carried at fair value					$ 15,147		$ 15,147		$ 0
Change in fair value of financial liability					5,431	$ 0	5,431	$ 0
Senior Secured Promissory Note [Member] | Other Receivables [Member]
Related Party Transaction [Abstract]
Receivables					$ 1,820		$ 1,820
Common Class A [Member]
Related Party Transaction [Abstract]
Stock price (in dollars per share) | $ / shares		$ 13.195
ACM Shanghai [Member]
Related Party Transaction [Abstract]
Repayments of notes		$ 1,161
Number of agreement | Agreement	2
ACM Shanghai [Member] | Senior Secured Promissory Note [Member]
Related Party Transaction [Abstract]
Receivables	$ 1,820
ACM Shanghai [Member] | Intercompany Note [Member]
Related Party Transaction [Abstract]
Promissory note principal amount			$ 2,981
Interest rate on promissory note			3.01%
Promissory note maturity date							Aug. 17, 2023
Cancellation of outstanding obligation, amount	$ 1,820
SMC [Member]
Related Party Transaction [Abstract]
Payment for investment										$ 2,981	¥ 20,123,500
Stock price (in dollars per share) | $ / shares		$ 13.195
Investment repayment period							60 days
Number of shares repurchased/surrender in exchange (in shares) | shares	242,681	154,821
Repayments of notes		$ 882
Investment due amount		1,820
Consideration price in fair value	$ 9,716
SMC [Member] | Senior Secured Promissory Note [Member]
Related Party Transaction [Abstract]
Promissory note principal amount			$ 2,981
Interest rate on promissory note			3.01%
Promissory note maturity date							Aug. 17, 2023
SMC [Member] | Common Class A [Member]
Related Party Transaction [Abstract]
Shares issued (in shares) | shares				397,502
Shares issued value				$ 2,981
Stock price (in dollars per share) | $ / shares				$ 7.50
Number of shares repurchased/surrender in exchange (in shares) | shares					242,681		242,681
SMC [Member] | Common Class A [Member] | Senior Secured Promissory Note [Member]
Related Party Transaction [Abstract]
Exercise of common stock warrant issued (in shares) | shares			397,502
SMC [Member] | ACM Shanghai [Member]
Related Party Transaction [Abstract]
Repayment of investment in cash	$ 1,820	$ 1,161

RELATED PARTY BALANCES AND TR_3

RELATED PARTY BALANCES AND TRANSACTIONS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Related Party Transaction [Abstract]
Accounts payable	$ 2,789		$ 2,789		$ 1,215
Purchase of materials	3,826	$ 2,675	6,037	$ 4,995
Ninebell Co., Ltd [Member]
Related Party Transaction [Abstract]
Prepaid expenses	878		878		348
Accounts payable	2,261		2,261		727
Purchase of materials	3,370	2,483	5,523	4,803
Shengyi Semiconductor Technology Co., Ltd [Member]
Related Party Transaction [Abstract]
Accounts payable	528		528		$ 488
Purchase of materials	456	192	514	192
Service fee charged by	$ 144	$ 0	$ 190	$ 0

COMMON STOCK (Details)

COMMON STOCK (Details)	1 Months Ended		3 Months Ended		6 Months Ended
	Apr. 30, 2020shares	Aug. 31, 2019shares	Jun. 30, 2020Vote$ / sharesshares	Jun. 30, 2019shares	Jun. 30, 2020Vote$ / sharesshares	Jun. 30, 2019shares	Dec. 31, 2019$ / sharesshares
Class of Stock [Abstract]
Number of shares cancelled (in shares)			242,681		242,681
SMC [Member]
Class of Stock [Abstract]
Stock repurchase (in shares)	242,681	154,821
Common Class A [Member]
Class of Stock [Abstract]
Common stock, shares authorized (in shares)			50,000,000		50,000,000		50,000,000
Common stock, par value (in dollars per share) | $ / shares			$ 0.0001		$ 0.0001		$ 0.0001
Number of votes for each share entitled | Vote			1		1
Common stock, shares issued (in shares)			16,250,092		16,250,092		16,182,151
Common stock, shares outstanding (in shares)			16,250,092		16,250,092		16,182,151
Common Class A [Member] | SMC [Member]
Class of Stock [Abstract]
Stock repurchase (in shares)			242,681		242,681
Common Class A [Member] | Common Stock [Member]
Class of Stock [Abstract]
Exercise of common stock warrant issued (in shares)					64,717
Stock issued upon exercise of stock options (in shares)			115,425	38,252	185,903	104,627
Stock repurchase (in shares)			242,681		242,681
Common Class B [Member]
Class of Stock [Abstract]
Common stock, shares authorized (in shares)			2,409,738		2,409,738		2,409,738
Common stock, par value (in dollars per share) | $ / shares			$ 0.0001		$ 0.0001		$ 0.0001
Number of votes for each share entitled | Vote			20		20
Convertible shares in to Class A common stock (in shares)					1
Common stock, shares issued (in shares)			1,802,606		1,802,606		1,862,608
Common stock, shares outstanding (in shares)			1,802,606		1,802,606		1,862,608
Common Class B [Member] | Common Stock [Member]
Class of Stock [Abstract]
Exercise of common stock warrant issued (in shares)					0
Stock issued upon exercise of stock options (in shares)			0	0	0	0
Stock repurchase (in shares)			0		0

REDEEMABLE NON-CONTROLLING IN_3

REDEEMABLE NON-CONTROLLING INTERESTS (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Change in Redeemable Non-controlling Interests [Abstract]
Balance		$ 60,162
Net income attributable to redeemable non-controlling interests		643
Effect of foreign currency translation gain attributable to redeemable non-controlling interests		(847)
Reclassification of redeemable non-controlling interest	$ (59,958)	(59,958)
Balance	$ 0	$ 0

STOCK-BASED COMPENSATION, Stock

STOCK-BASED COMPENSATION, Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Stock-based Compensation Expense [Abstract]
Stock-based compensation expense	$ 855	$ 618	$ 1,544	$ 1,362
Employee Stock Purchase Plan [Member]
Stock-based Compensation Expense [Abstract]
Stock-based compensation expense	635	291	1,066	512
Employee Stock Purchase Plan [Member] | ACM Shanghai [Member]
Stock-based Compensation Expense [Abstract]
Stock-based compensation expense	80	0	166	0
Non-Employee Stock Purchase Plan [Member]
Stock-based Compensation Expense [Abstract]
Stock-based compensation expense	140	327	312	850
Cost of Revenue [Member]
Stock-based Compensation Expense [Abstract]
Stock-based compensation expense	43	29	88	59
Sales and Marketing Expense [Member]
Stock-based Compensation Expense [Abstract]
Stock-based compensation expense	164	46	258	80
Research and Development Expense [Member]
Stock-based Compensation Expense [Abstract]
Stock-based compensation expense	188	94	375	180
General and Administrative Expense [Member]
Stock-based Compensation Expense [Abstract]
Stock-based compensation expense	$ 460	$ 449	$ 823	$ 1,043

STOCK-BASED COMPENSATION, Share

STOCK-BASED COMPENSATION, Share Option Activities (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Weighed Average Remaining Contractual Term [Abstract]
Stock-based compensation expense	$ 855	$ 618	$ 1,544	$ 1,362
Employee Share Option [Member]
Number of Option Share [Roll Forward]
Outstanding, beginning of period (in shares)			2,994,063
Granted (in shares)			708,399
Exercised (in shares)			(41,172)
Expired (in shares)			0
Forfeited/cancelled (in shares)			(39,120)
Outstanding, end of period (in shares)	3,622,170		3,622,170		2,994,063
Vested and exercisable (in shares)	1,997,526		1,997,526
Weighted Average Grant Date Fair Value [Abstract]
Outstanding at beginning of period (in dollars per share)			$ 2.59
Granted (in dollars per share)			9.88
Exercised (in dollars per share)			2.71
Expired (in dollars per share)			0
Forfeited/cancelled (in dollars per share)			5.10
Outstanding at end of period (in dollars per share)	$ 3.98		3.98		$ 2.59
Weighted Average Exercise Price [Abstract]
Outstanding, beginning of period (in dollars per share)			6.77
Granted (in dollars per share)			24.13
Exercised (in dollars per share)			6.47
Expired (in dollars per share)			0
Forfeited/cancelled (in dollars per share)			13.46
Outstanding, end of period (in dollars per share)	$ 10.10		$ 10.10		$ 6.77
Weighed Average Remaining Contractual Term [Abstract]
Outstanding weighed average remaining contractual term			7 years 1 month 28 days		7 years 18 days
Stock-based compensation expense	$ 635	291	$ 1,066	512
Unrecognized employee stock-based compensation expense	$ 10,252		$ 10,252		$ 4,712
Weighted-average period over which unrecognized compensation is expected to be recognized			2 years 5 months 8 days		1 year 5 months 19 days
Employee Share Option [Member] | ACM Shanghai [Member]
Number of Option Share [Roll Forward]
Outstanding, beginning of period (in shares)			0
Granted (in shares)			5,869,808
Exercised (in shares)			0
Expired (in shares)			0
Forfeited/cancelled (in shares)			(330,770)
Outstanding, end of period (in shares)	5,539,038		5,539,038		0
Vested and exercisable (in shares)	0		0
Weighted Average Grant Date Fair Value [Abstract]
Outstanding at beginning of period (in dollars per share)			$ 0
Granted (in dollars per share)			0.22
Exercised (in dollars per share)			0
Expired (in dollars per share)			0
Forfeited/cancelled (in dollars per share)			0.23
Outstanding at end of period (in dollars per share)	$ 0.22		0.22		$ 0
Weighted Average Exercise Price [Abstract]
Outstanding, beginning of period (in dollars per share)			0
Granted (in dollars per share)			1.87
Exercised (in dollars per share)			0
Expired (in dollars per share)			0
Forfeited/cancelled (in dollars per share)			1.87
Outstanding, end of period (in dollars per share)	$ 1.87		$ 1.87		$ 0
Weighed Average Remaining Contractual Term [Abstract]
Outstanding weighed average remaining contractual term			4 years 3 days		0 years
Stock-based compensation expense	$ 80	0	$ 166	0
Non-Employee Stock Option [Member]
Number of Option Share [Roll Forward]
Outstanding, beginning of period (in shares)			1,101,613
Granted (in shares)			20,000
Exercised (in shares)			(144,731)
Expired (in shares)			0
Forfeited/cancelled (in shares)			0
Outstanding, end of period (in shares)	976,882		976,882		1,101,613
Vested and exercisable (in shares)	929,397		929,397
Weighted Average Grant Date Fair Value [Abstract]
Outstanding at beginning of period (in dollars per share)			$ 0.82
Granted (in dollars per share)			10.29
Exercised (in dollars per share)			1.22
Outstanding at end of period (in dollars per share)	$ 0.95		0.95		$ 0.82
Weighted Average Exercise Price [Abstract]
Outstanding, beginning of period (in dollars per share)			2.69
Granted (in dollars per share)			25.60
Exercised (in dollars per share)			4.19
Outstanding, end of period (in dollars per share)	$ 2.93		$ 2.93		$ 2.69
Weighed Average Remaining Contractual Term [Abstract]
Outstanding weighed average remaining contractual term			5 years 4 months 20 days		5 years 10 months 6 days
Stock-based compensation expense	$ 140	$ 327	$ 312	$ 850
Unrecognized employee stock-based compensation expense	279		$ 279		$ 406
Weighted-average period over which unrecognized compensation is expected to be recognized			1 month 17 days		2 months 23 days
Non-Employee Stock Option [Member] | ACM Shanghai [Member]
Weighed Average Remaining Contractual Term [Abstract]
Unrecognized employee stock-based compensation expense	$ 989		$ 989
Weighted-average period over which unrecognized compensation is expected to be recognized			3 years 3 days

STOCK-BASED COMPENSATION, Assum

STOCK-BASED COMPENSATION, Assumptions Used to Determine Fair Value of Share Options Granted (Details)	6 Months Ended
	Jun. 30, 2020$ / shares
Employee Share Option [Member] | Market Based [Member]
Fair Value of Options Granted [Abstract]
Fair value of common share (in dollars per share)	$ 22.07	[1]
Volatility	45.10%	[2]
Risk-free interest rate	2.68%	[3]
Expected dividend	0.00%	[4]
Employee Share Option [Member] | Market Based [Member] | Minimum [Member]
Fair Value of Options Granted [Abstract]
Expected term in years	9 years 2 months 12 days	[5]
Employee Share Option [Member] | Market Based [Member] | Maximum [Member]
Fair Value of Options Granted [Abstract]
Expected term in years	9 years 9 months 18 days	[5]
Employee and Non-employee Stock Option [Member] | Service Period Based [Member]
Fair Value of Options Granted [Abstract]
Expected dividend	0.00%	[4]
Employee and Non-employee Stock Option [Member] | Service Period Based [Member] | Minimum [Member]
Fair Value of Options Granted [Abstract]
Fair value of common share (in dollars per share)	$ 22.07	[1]
Expected term in years	5 years 6 months	[5]
Volatility	42.17%	[2]
Risk-free interest rate	0.51%	[3]
Employee and Non-employee Stock Option [Member] | Service Period Based [Member] | Maximum [Member]
Fair Value of Options Granted [Abstract]
Fair value of common share (in dollars per share)	$ 38.26	[1]
Expected term in years	6 years 3 months	[5]
Volatility	46.14%	[2]
Risk-free interest rate	0.82%	[3]
[1]	Common stock value was the close market value on the grant date.
[2]	Volatility is calculated based on the historical volatility of ACM’s comparable companies in the period equal to the expected term of each grant.
[3]	Risk-free interest rate is based on the yields of U.S. Treasury securities with maturities similar to the expected term of the share options in effect at the time of grant.
[4]	Expected dividend is assumed to be 0% as ACM has no history or expectation of paying a dividend on its common stock.
[5]	Expected term of share options is based on the average of the vesting period and the contractual term for each grant according to Staff Accounting Bulletin 110.

INCOME TAXES (Details)

INCOME TAXES (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)Subsidiary	Jun. 30, 2019USD ($)
Income Taxes [Abstract]
Statutory U.S federal income tax rate			21.00%
Total income tax expense	$ 1,859	$ 876	$ 2,163	$ 995
Unrecognized tax benefits	155		155
Interest or penalties	0
Income Tax Expense [Abstract]
Total income tax expense	$ (1,859)	$ (876)	$ (2,163)	$ (995)
China [Member]
Income Taxes [Abstract]
Number of subsidiaries | Subsidiary			3
Effective period of preferential income tax rate			3 years
China [Member] | ACM Research (Shanghai), Inc. [Member]
Income Taxes [Abstract]
Foreign corporate tax rate			15.00%
China [Member] | ACM Research (Wuxi), Inc. [Member]
Income Taxes [Abstract]
Foreign corporate tax rate			25.00%
China [Member] | Shangwei Research (Shanghai), Inc. [Member]
Income Taxes [Abstract]
Foreign corporate tax rate			25.00%

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - 6 months ended Jun. 30, 2020 $ in Thousands, ¥ in Millions	USD ($)	USD ($)	USD ($)m²	USD ($)a	CNY (¥)	CNY (¥)
COMMITMENTS AND CONTINGENCIES [Abstract]
Open capital commitments	$ 896	$ 896	$ 896	$ 896
Rights to acquire land			43,000	10.6
Pilot free trade zone period	50 years
Aggregate price		8,700			¥ 61.7
Performance deposit	$ 1,700	$ 1,700	$ 1,700	$ 1,700		¥ 12.3
Performance deposit refund period	1 year
Percentage of aggregate land use right cost	20.00%	20.00%	20.00%	20.00%		20.00%
Required liquidate damage value		$ 63,400			450
Land use rights period	6 years
Annual total taxes		22,000			¥ 157.6
Deposit for potential purchase	$ 6,700	6,700	$ 6,700	$ 6,700		¥ 47.5
Legal proceedings		$ 0

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) - Subsequent Event [Member] ¥ / shares in Units, $ / shares in Units, ¥ in Millions	Jul. 29, 2020$ / sharesshares	Jul. 16, 2020CNY (¥)¥ / sharesshares	Jul. 16, 2020USD ($)shares	Jul. 16, 2020USD ($)$ / shares
Subsequent Event [Abstract]
Share price (in dollars per share) | (per share)		¥ 27.46		$ 3.89
Total proceeds		¥ 46,300	$ 6,550,000
Shares acquired in offering (in shares)		80,589,949	80,589,949
Acquired an aggregate value		¥ 2,224		$ 315,000
Class A Common Stock [Member]
Subsequent Event [Abstract]
Warrant to purchase shares of Class A common stock (in shares)	242,681
Purchase price (in dollars per share) | $ / shares	$ 7.50