ACM Research (ACMR) 10-Q 9 May 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2022	May 03, 2022
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Document Transition Report	false
Entity File Number	001-38273
Entity Registrant Name	ACM Research, Inc.
Entity Central Index Key	0001680062
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-3290283
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
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Class A Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		54,074,653
Class B Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		5,086,812

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands		Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents		$ 380,311	$ 563,067
Short-term time deposits		74,025	0
Trading securities (note 15)		25,772	29,498
Accounts receivable, less allowance for doubtful accounts of $0 as of March 31, 2022 and December 31, 2021 (note 4)		106,351	105,553
Income tax recoverable		1,607	1,082
Other receivables		23,602	18,979
Inventories (note 5)		271,538	218,116
Prepaid expenses		21,771	16,639
Total current assets		904,977	952,934
Property, plant and equipment, net (note 6)		57,680	14,042
Land use right, net (note 7)		9,661	9,667
Operating lease right-of-use assets, net (note 11)		4,028	4,182
Intangible assets, net		748	477
Long-term time deposits		78,750	0
Deferred tax assets (note 19)		15,303	13,166
Long-term investments (note 14)		12,666	12,694
Other long-term assets (note 8)		3,559	45,017
Total assets		1,087,372	1,052,179
Current liabilities:
Short-term borrowings (note 9)		9,600	9,591
Current portion of long-term borrowings (note 12)		2,441	2,410
Accounts payable		108,494	101,350
Advances from customers		82,036	52,824
Deferred revenue		2,699	3,180
Income taxes payable		(1,744)
Income taxes payable (note 19)			254
FIN-48 payable (note 19)		2,292	2,282
Other payables and accrued expenses (note 10)		36,555	31,735
Current portion of operating lease liability (note 11)		2,076	2,313
Total current liabilities		244,449	205,939
Long-term borrowings (note 12)		22,344	22,957
Long-term operating lease liability (note 11)		1,952	1,869
Deferred tax liability (note19)		1,308	1,302
Other long-term liabilities (note 13)		8,545	8,447
Total liabilities		278,598	240,514
Commitments and contingencies (note 20)
Stockholders' equity:
Additional paid in capital		597,143	595,045
Accumulated surplus		66,258	72,044
Accumulated other comprehensive income		10,979	9,109
Total ACM Research, Inc. stockholders' equity		674,386	676,204
Non-controlling interests		134,388	135,461
Total stockholders' equity		808,774	811,665
Total liabilities and stockholders' equity		1,087,372	1,052,179
Class A Common Stock [Member]
Stockholders' equity:
Common stock	[1]	5	5
Class B Common Stock [Member]
Stockholders' equity:
Common stock	[1]	$ 1	$ 1
[1]	Prior period results have been adjusted to reflect the three-for-one stock split effected in the form of a stock dividend in March 2022. See Note 1 for details

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022USD ($)$ / sharesshares	Mar. 31, 2021	Dec. 31, 2021USD ($)$ / sharesshares
Current assets:
Accounts receivable, allowance for doubtful accounts | $	$ 0		$ 0
Stockholders' equity:
Stock split ratio	3	3
Class A Common Stock [Member]
Stockholders' equity:
Common stock, par value (in dollars per share) | $ / shares	$ 0.0001		$ 0.0001
Common stock, shares authorized (in shares)	150,000,000		150,000,000
Common stock, shares issued (in shares)	54,035,280		53,608,929
Common stock, shares outstanding (in shares)	54,035,280		53,608,929
Stock split ratio	3	3	3
Class B Common Stock [Member]
Stockholders' equity:
Common stock, par value (in dollars per share) | $ / shares	$ 0.0001		$ 0.0001
Common stock, shares authorized (in shares)	5,307,816		5,307,816
Common stock, shares issued (in shares)	5,086,812		5,087,814
Common stock, shares outstanding (in shares)	5,086,812		5,087,814
Stock split ratio	3	3	3

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Condensed Consolidated Statements of Operations and Comprehensive Income [Abstract]
Revenue (note 3)		$ 42,186	$ 43,732
Cost of revenue		22,500	25,687
Gross profit		19,686	18,045
Operating expenses:
Sales and marketing		6,697	5,308
Research and development		17,346	5,504
General and administrative		4,949	3,783
Total operating expenses, net		28,992	14,595
Income (loss) from operations		(9,306)	3,450
Interest income		1,805	49
Interest expense		(261)	(189)
Unrealized loss on trading securities		(3,858)	(1,047)
Other income, net		237	469
Equity income (loss) in net income (loss) of affiliates		(71)	320
Income (loss) before income taxes		(11,454)	3,052
Income tax benefit (note 19)		4,011	2,770
Net income (loss)		(7,443)	5,822
Less: Net income (loss) attributable to non-controlling interests		(1,657)	352
Net income (loss) attributable to ACM Research, Inc.		(5,786)	5,470
Comprehensive income:
Net income (loss)		(7,443)	5,822
Foreign currency translation adjustment		2,454	(1,332)
Comprehensive Income (loss)		(4,989)	4,490
Less: Comprehensive income (loss) attributable to non-controlling interests		(1,073)	(83)
Comprehensive income (loss) attributable to ACM Research, Inc.		$ (3,916)	$ 4,573
Net income (loss) attributable to ACM Research, Inc. per common share (note 2):
Basic (in dollars per share)		$ (0.10)	$ 0.10
Diluted (in dollars per share)		$ (0.09)	$ 0.08
Weighted average common shares outstanding used in computing per share amounts (note 2):
Basic (in shares)	[1]	58,827,390	56,360,610
Diluted (in shares)	[1]	65,950,922	65,604,840
[1]	Prior period results have been adjusted to reflect the three-for-one stock split effected in the form of a stock dividend in March 2022. See Note 1 for details

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations and Comprehensive Income (Parenthetical)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Condensed Consolidated Statements of Operations and Comprehensive Income [Abstract]
Stock split ratio	3	3

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands		Common Stock [Member]Common Stock Class A [Member]		Common Stock [Member]Common Stock Class B [Member]		Additional Paid-in Capital [Member]	[1]	Accumulated Surplus [Member]	Accumulated Other Comprehensive Income [Member]	Noncontrolling Interests [Member]	Total
Beginning balance at Dec. 31, 2020		$ 5	[1]	$ 1	[1]	$ 102,000		$ 34,287	$ 4,857	$ 67,020	$ 208,170
Beginning balance (in shares) at Dec. 31, 2020	[1]	50,690,079		5,407,818
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		$ 0	[1]	$ 0	[1]	0		5,470	0	352	5,822
Foreign currency translation adjustment		0	[1]	0	[1]	0		0	(896)	(436)	(1,332)
Exercise of stock options		$ 0	[1]	$ 0	[1]	1,377		0	0	0	1,377
Exercise of stock options (in shares)	[1]	929,820		0
Stock-based compensation		$ 0	[1]	$ 0	[1]	1,210		0	0	0	1,210
Conversion of Class B common stock to Class A common stock		$ 0	[1]	$ 0	[1]	0		0	0	0	0
Conversion of class B common stock to Class A common stock (in shares)	[1]	100,002		(100,002)
Ending balance at Mar. 31, 2021		$ 5	[1]	$ 1	[1]	104,587		39,757	3,961	66,936	215,247
Ending balance (in shares) at Mar. 31, 2021	[1]	51,719,901		5,307,816
Beginning balance at Dec. 31, 2021		$ 5	[1]	$ 1	[1]	595,045		72,044	9,109	135,461	811,665
Beginning balance (in shares) at Dec. 31, 2021	[1]	53,608,929		5,087,814
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		$ 0	[1]	$ 0	[1]	0		(5,786)	0	(1,657)	(7,443)
Foreign currency translation adjustment		0	[1]	0	[1]	0		0	1,870	584	2,454
Exercise of stock options		$ 0	[1]	$ 0	[1]	724		0	0		724
Exercise of stock options (in shares)	[1]	425,349		0
Stock-based compensation		$ 0	[1]	$ 0	[1]	1,374		0	0		1,374
Conversion of Class B common stock to Class A common stock		$ 0	[1]	$ 0	[1]	0		0	0	0	0
Conversion of class B common stock to Class A common stock (in shares)	[1]	1,002		(1,002)
Ending balance at Mar. 31, 2022		$ 5	[1]	$ 1	[1]	$ 597,143		$ 66,258	$ 10,979	$ 134,388	$ 808,774
Ending balance (in shares) at Mar. 31, 2022	[1]	54,035,280		5,086,812
[1]	Prior period results have been adjusted to reflect the three-for-one stock split effected in the form of a stock dividend in March 2022. See Note 1 for details

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Stockholders' Equity (Parenthetical)	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock split ratio	3	3
Common Stock Class A [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock split ratio	3	3	3
Common Stock Class B [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock split ratio	3	3	3

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net income (loss)	$ (7,443)	$ 5,822
Adjustments to reconcile net income from operations to net cash used in operating activities
Depreciation and amortization	1,213	546
Loss on disposals of property, plant and equipment	0	26
Equity (income) loss in net (income) loss of affiliates	71	(320)
Unrealized loss on trading securities	3,858	1,047
Deferred income taxes	(2,081)	(2,929)
Stock-based compensation	1,374	1,210
Net changes in operating assets and liabilities:
Accounts receivable	(284)	(4,602)
Other receivables	(4,893)	(1,850)
Inventory	(52,503)	(15,276)
Prepaid expenses	(5,015)	(83)
Other long-term assets	(119)	21
Accounts payable	6,681	9,492
Advances from customers	29,273	14,932
Income tax payable	(1,999)	75
FIN-48 payable	10	0
Other payables and accrued expenses	1,274	3,181
Deferred revenue	2,699	1,315
Other long-term liabilities	155	(1,865)
Net cash flow (used in) provided by operating activities	(27,729)	10,742
Cash flows from investing activities:
Purchase of property and equipment	(3,176)	(1,466)
Purchase of intangible assets	(408)	(112)
Increase of short-term time deposits	(74,025)	0
Increase of long-term time deposits	(78,750)	0
Net cash used in investing activities	(156,359)	(1,578)
Cash flows from financing activities:
Proceeds from short-term borrowings	0	4,211
Repayments of short-term borrowings	0	(6,744)
Repayments of long-term borrowings	(696)	(224)
Proceeds from stock option exercise to common stock	724	1,377
Net cash (used in) provided by financing activities	28	(1,380)
Effect of exchange rate changes on cash and cash equivalents	1,304	(754)
Net increase (decrease) in cash and cash equivalents	(182,756)	7,030
Cash and cash equivalent at beginning of period	563,067	71,766
Cash and cash equivalents at end of period	380,311	78,796
Supplemental disclosure of cash flow information:
Interest paid, net of capitalized interest	261	189
Cash paid for income taxes	0	63
Non-cash financing activities:
Cashless exercise of stock options	$ 39	$ 83

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	3 Months Ended
	Mar. 31, 2022
DESCRIPTION OF BUSINESS [Abstract]
DESCRIPTION OF BUSINESS	NOTE 1 – DESCRIPTION OF BUSINESS A CM 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 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 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. Based on its electro-chemical plating (“ECP”) technology, the Company introduced in March 2019 its Ultra ECP AP, or “Advanced Packaging,” tool for bumping, or applying copper, tin and nickel to semiconductor wafers at the die-level, and its Ultra ECP MAP, or “Multi-Anode Partial Plating,” tool to deliver advanced electrochemical copper plating for copper interconnect applications in front-end wafer fabrication processes. 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 November 2016 ACM re-domesticated from California to Delaware pursuant to a merger in which ACM Research, Inc., a California corporation, was merged into a newly formed, wholly owned Delaware subsidiary, also named ACM Research, Inc. 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 August 2017 ACM purchased of ACM Shanghai’s equity interests held by Shanghai Science and Technology Venture Capital Co., Ltd. On November 8, 2017, ACM purchased the remaining of ACM Shanghai’s equity interests held by third parties, Shanghai Pudong High-Tech Investment Co., Ltd. and Shanghai Zhangjiang Science & Technology Venture Capital Co., Ltd. At December 31, 2017, ACM owned all of the outstanding equity interests of ACM Shanghai, and indirectly through ACM Shanghai, owned all of the outstanding equity interests of ACM Wuxi. On September 13, 2017, ACM effectuated a 1-for-3 reverse stock split of Class A and Class B common stock. On November 2, 2017, the Registration Statement on Form S-1 (File No. 333-220451) for ACM’s initial public offering of Class A common stock was declared effective by the U.S. Securities and Exchange Commission. Shares of Class A common stock began trading on the Nasdaq Global Market on November 3, 2017, and the closing for the offering was held on November 7, 2017. 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 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 September 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. I n preparation for the STAR IPO, ACM completed a reorganization in December 2019 that included the sale of all of the shares of CleanChip by ACM to ACM Shanghai impact on ACM’s c In August 2021 ACM formed a wholly owned subsidiary in Singapore, ACM Research (Singapore) PTE, Ltd. to perform sales, marketing, and other business development activities. In November 2021 ACM Shanghai completed its STAR Listing and STAR IPO and its shares began trading on the STAR Market. In the STAR IPO, ACM Shanghai issued 43,355,753 shares, representing 10% of the total 433,557,100 shares outstanding after the issuance. The shares were issued at a public offering price of RMB 85.00 per share, and the net proceeds of the STAR IPO, after issuance costs, totaled $545,512. Upon completion of the STAR IPO, ACM owned 82.5% of the outstanding ACM Shanghai shares. In February 2022 ACM Shanghai formed a wholly owned subsidiary in China, ACM Research (Beijing), Inc. (“ACM Beijing”), to perform sales, marketing and other business development activities. In March 2022 ACM formed a wholly owned subsidiary in South Korea, Hanguk ACM CO., LTD, to perform business development and other related activities. In March 2022 the Board of Directors of ACM declared a 3-for-1 stock split of Class A and Class B common stock effected in the form of a stock dividend (the “Stock Split”). Each stockholder of record at the close of business on March 16, 2022, received a dividend of two additional shares of Class A common stock for each then-held share of Class A common stock and two additional shares of Class B common stock for each then-held share of Class B common stock, which were distributed after the close of trading on March 23, 2022. Unless otherwise indicated, all share numbers, per share amount, share prices, exercise prices and conversion rates set forth in these notes and the accompanying consolidated financial statements have been adjusted retrospectively to reflect the Stock Split . The Company has direct or indirect interests in the following subsidiaries: Effective interest held as at Name of subsidiaries Place and date of incorporation March 31, 2022 December 31, 2021 ACM Research (Shanghai), Inc. PRC, May 2005 82.5 % 82.5 % ACM Research (Wuxi), Inc. PRC, July 2011 82.5 % 82.5 % CleanChip Technologies Limited Hong Kong, June 2017 82.5 % 82.5 % ACM Research Korea CO., LTD. Korea, December 2017 82.5 % 82.5 % Shengwei Research (Shanghai), Inc. PRC, March 2019 82.5 % 82.5 % ACM Research (CA), Inc. USA, April 2019 82.5 % 82.5 % ACM Research (Cayman), Inc. Cayman Islands, April 2019 100.0 % 100.0 % ACM Research (Singapore) PTE. Ltd. Singapore, August 2021 100.0 % 100.0 % ACM Research (Beijing), Inc. PRC, February 2022 82.5 % — Hanguk ACM CO., LTD. Korea, March 2022 100.0 % —

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The Company’s condensed consolidated financial statements include the accounts of ACM and its subsidiaries, including ACM Shanghai and its subsidiaries, which include ACM Wuxi, ACM Shengwei, ACM Beijing, and CleanChip (the subsidiaries of which include ACM California and ACM Korea). ACM’s subsidiaries are those entities in which ACM, directly or indirectly, controls a majority 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 accompanying condensed consolidated financial statements should be read in conjunction with the historical consolidated financial statements of the Company for the year ended December 31, 2021 included in ACM’s Annual Report on Form 10-K for the year ended December 31, 2021. The accompanying condensed consolidated balance sheet as of March 31, 2022, condensed consolidated statements of operations and comprehensive income for the three months ended March 31, 2022 and 2021, condensed consolidated statements of changes in stockholders’ equity for the three months ended March 31, 2022 and 2021, and condensed consolidated statements of cash flows for the three months ended March 31, 2022 and 2021 are unaudited. In the opinion of management, these 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 March 31, 2022 and the results of operations for the three months ended March 31, 2022 are not necessarily indicative of the results to be expected for any future period. Common Stock Split Unless otherwise indicated, all prior period share and per share amounts, common stock, other capital, and retained earnings information presented in the accompanying financial statements and these notes thereto has been retroactively adjusted to reflect the impact of the Stock Split (Note 1). Proportional adjustments were also made to outstanding awards under the Company’s stock-based compensation plans. 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 pandemic 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 or future repetitions of the business disruptions, and related financial impacts, cannot be estimated at this time. COVID-19 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. The Company conducts substantially all of its product development, manufacturing, support and services in the PRC, and those activities have been directly impacted by COVID-19 and related restrictions on transportation and public appearances. In March 2022, several regions in China began to experience elevated levels of COVID-19 infections, and the PRC government instituted policies to restrict the spread of the virus. The policies began with an increase of “ The Company’s corporate headquarters are located in San Mateo County in the San Francisco Bay Area. The effects of actions taken by local governmental agencies in the future may negatively impact productivity, disrupt the business of the Company and delay timelines, the magnitude of which will depend, in part, on the length and severity of the restrictions and other limitations on the Company’s ability to conduct its business in the ordinary course. The prolonged and broad-based shift to remote working environments resulting from COVID-19 continues to create inherent productivity, connectivity, and oversight challenges and could affect the Company’s ability to enhance, develop and support existing products and services, detect and prevent spam and problematic content, hold product sales and marketing events, and generate new sales leads. In addition, the changed environment under which the Company is operating could have an effect on its internal controls over financial reporting as well as its ability to meet a number of its compliance requirements in a timely or quality manner. Additional or extended governmental lockdowns, restrictions or regulations could significantly impact the ability of the Company’s employees and vendors to work productively. Governmental restrictions have been inconsistent globally and it remains unclear when a return to worksite locations or travel will be permitted or what restrictions will be in place in those environments. As the Company prepares to return its workforce to the office in more locations in 2022, it may experience increased costs as it prepares its facilities for a safe return to work environment and experiments with hybrid work models and may suffer additional adverse effects on its ability to compete effectively and maintain its corporate culture. Extended periods of interruption to the Company’s corporate, development or manufacturing facilities due to COVID-19 could cause the Company to lose revenue and market share, which would depress its financial performance and could be difficult to recapture. The Company’s business may also be harmed if travel to or from the PRC or the United States continues to be restricted or inadvisable or if members of management and other employees are absent because they contract COVID-19, they elect not to come to work due to the illness affecting others in the Company’s office or laboratory facilities, or they are subject to quarantines or other governmentally imposed restrictions. Use of Estimates The preparation of the 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 revenues and expenses during the reported period in the 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 fair value of trading securities, stock-based compensation arrangements and warrant 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 evaluates these estimates and assumptions on a regular basis. Actual results could differ from those estimates and assumptions. Basic and Diluted Net Income per Common Share Basic and diluted net income per common share are calculated as follows, as adjusted to give effect to the Stock Split: Three Months Ended March 31, 2022 2021 Numerator: Net income (loss) $ (7,443 ) $ 5,822 Less: Net income (loss) attributable to non-controlling interests (1,657 ) 352 Net income (loss) available to common stockholders, basic $ (5,786 ) $ 5,470 Less: Dilutive effect arising from share-based awards by ACM Shanghai (86 ) - Net income (loss) available to common stockholders, diluted $ (5,700 ) $ 5,470 Weighted average shares outstanding, basic 58,827,390 56,360,610 Effect of dilutive securities 7,123,532 9,244,230 Weighted average shares outstanding, diluted 65,950,922 65,604,840 Net income (loss) per common share: Basic (0.10 ) 0.10 Diluted $ (0.09 ) $ 0.08 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 cash dividends during the three months ended March 31, 2022 or 2021, 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 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, including stock options and issued warrants, that could share in ACM’s earnings. Certain potential dilutive securities were excluded from the net income per share calculation because the impact would be anti-dilutive. ACM’s potential dilutive securities consist of warrants and stock options for the three months ended March 31, 2022 and 2021. Concentration of Credit Risk Financial instruments that potentially subject the Company to credit risk consist principally of cash and cash equivalents, time deposits, and accounts receivable. The Company deposits and invests its cash with financial institutions that management believes are creditworthy. The Company is potentially subject to concentrations of credit risks in its accounts receivable. For the three months ended March 31, 2022 and 2021, the Company’s three largest customers in total accounted for 62.6% and 60.1%, respectively, of revenue. As of March 31, 2022 and December 31, 2021, the Company’s two largest customers in total accounted for 53.2% and 53.8%, 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 Not Yet Adopted In June 2016 the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In November 2019 the FASB issued ASU 2019-10, Financial Instruments Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates,

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	3 Months Ended
	Mar. 31, 2022
REVENUE FROM CONTRACTS WITH CUSTOMERS [Abstract]
REVENUE FROM CONTRACTS WITH CUSTOMERS	NOTE 3 – REVENUE FROM CONTRACTS WITH CUSTOMERS The Company assesses revenues based upon the nature or type of goods or services it provides and the geographic location of the related businesses. The following tables present disaggregated revenue information: Three Months Ended , 2022 2021 Single wafer cleaning, Tahoe and semi-critical cleaning equipment $ 26,033 $ 32,413 ECP (front-end and packaging), furnace and other technologies 12,248 5,550 Advanced packaging (excluding ECP), services & spares 3,905 5,769 Total Revenue By Product Category $ 42,186 $ 43,732 Wet cleaning and other front-end processing tools $ 31,702 $ 31,900 Advanced packaging, other processing tools, services and spares 10,484 11,832 Total Revenue Fron t-end $ 42,186 $ 43,732 Three Months Ended , 2022 2021 Mainland China $ 42,130 $ 43,696 Other Regions 56 36 $ 42,186 $ 43,732

ACCOUNTS RECEIVABLE

ACCOUNTS RECEIVABLE	3 Months Ended
	Mar. 31, 2022
ACCOUNTS RECEIVABLE [Abstract]
ACCOUNTS RECEIVABLE	NOTE 4 – ACCOUNTS RECEIVABLE A t March 31, 2022 and December 31, 2021, accounts receivable consisted of the followin March 31, 2022 December 31, 2021 Accounts receivable $ 106,351 $ 105,553 Less: Allowance for doubtful accounts - - Total $ 106,351 $ 105,553 T he 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. allowance for doubtful accounts was considered necessary at March 31, 2022 or December 31, 2021

INVENTORIES

INVENTORIES	3 Months Ended
	Mar. 31, 2022
INVENTORIES [Abstract]
INVENTORIES	NOTE 5 – INVENTORIES At March 31, 2022 and December 31, 2021, inventory consisted of the following: March 31, 2022 December 31, 2021 Raw materials $ 108,157 $ 90,552 Work in process 56,755 35,840 Finished goods 106,626 91,724 Total inventory $ 271,538 $ 218,116 At March 31, 2022 and December 31, 2021, the Company held an inventory reserve of $1,826 and $1,215, respectively. At March 31, 2022 and December 31, 2021, finished goods inventory included system shipments of first-tools to existing or prospective customers, for which ownership does not transfer until customer acceptance or customer purchase, of $97,887, and $91,724, respectively. At March 31, 2022 and December 31, 2021, the value of finished goods inventory for which customers were contractually obligated to take ownership upon acceptance totaled $79,422 and $71,889, respectively.

PROPERTY, PLANT AND EQUIPMENT,

PROPERTY, PLANT AND EQUIPMENT, NET	3 Months Ended
	Mar. 31, 2022
PROPERTY, PLANT AND EQUIPMENT, NET [Abstract]
PROPERTY, PLANT AND EQUIPMENT, NET	NOTE 6 – PROPERTY, PLANT AND EQUIPMENT, NET At March 31, 2022 and December 31, 2021, property, plant and equipment consisted of the following: March 31, 2022 December 31, 2021 Buildings and plants $ 41,577 $ - Manufacturing equipment 8,738 7,973 Office equipment 2,559 2,012 Transportation equipment 217 217 Leasehold improvement 4,821 4,134 Total cost 57,912 14,336 Less: Total accumulated depreciation (6,837 ) (5,900 ) Construction in progress 6,605 5,606 Total property, plant and equipment, net $ 57,680 $ 14,042 Depreciation expense was $ and $ for the three months ended March 31, 2022 and 2021, respectively. Buildings and plants represents Lingang Housing transferred to ACM Shengwei in January 2022 at a value of $41,497 (RMB 263,979), including the purchase price and accumulated interest, and with estimated useful lives of 30-year (note 8). Buildings and plants are pledged as security for loans from China Merchants Bank (note 12).

LAND USE RIGHT, NET

LAND USE RIGHT, NET	3 Months Ended
	Mar. 31, 2022
LAND USE RIGHT, NET [Abstract]
LAND USE RIGHT, NET	NOTE 7 – LAND USE RIGHT, NET A summary of land use right is as follows: March 31, 2022 December 31, 2021 Land use right purchase amount $ 10,011 $ 9,966 Less: accumulated amortization (350 ) (299 ) Land use right, net $ 9,661 $ 9,667 In 2020 ACM Shanghai, through its wholly owned subsidiary ACM Shengwei, entered into an agreement for a 50-year land use right in the Lingang region of Shanghai. In July 2020 ACM Shengwei began a multi-year construction project for a new 1,000,000 square foot development and production center that will incorporate new manufacturing systems and automation technologies and will provide floor space to support significantly increased production capacity and related research and development activities. The amortization for the three months ended March 31, 2022 and 2021 was $50 and $49, respectively. The annual amortization of land use right for each of the next five years is as follows: Year ending December 31, 2022 $ 200 2023 200 2024 200 2025 200 2026 200

OTHER LONG-TERM ASSETS

OTHER LONG-TERM ASSETS	3 Months Ended
	Mar. 31, 2022
OTHER LONG-TERM ASSETS [Abstract]
OTHER LONG-TERM ASSETS	NOTE 8 – OTHER LONG-TERM ASSETS At March 31, 2022 and December 31, 2021, other long-term assets consisted of the following: March 31, 2022 December 31, 2021 Prepayment for property - Lingang $ - $ 42,111 Prepayment for property, plant and equipment and other non-current assets 1,159 440 Prepayment for property - lease deposit 718 429 Security deposit for land use right 776 773 Others 906 1,264 Total other long-term assets $ 3,559 $ 45,017 Prepayment for property – Lingang is for the housing in Lingang, Shanghai and consists of the contractual amount to acquire the property and capitalized interest charges on the long-term loan related to acquisition of the property, which amounted to at the time of transfer and as of December , Pursuant to contractual agreements, ownership of the housing in Lingang, Shanghai was transferred to ACM Shengwei in January at a value of at the time of transfer, and as of December which reflected the purchase price and cumulative capitalized interest charges related to the long-term loan from China Merchants Bank (note . Subsequent to the transfer of ownership, Prepayment for property – Lingang, was reclassed to property plant and equipment (note 6).

SHORT-TERM BORROWINGS

SHORT-TERM BORROWINGS	3 Months Ended
	Mar. 31, 2022
SHORT-TERM BORROWINGS [Abstract]
SHORT-TERM BORROWINGS	NOTE 9 – SHORT-TERM BORROWINGS At March 31, 2022 and December 31, 2021, short-term borrowings consisted of the following: March 31, 2022 December 31, 2021 Line of credit up to RMB 100,000 1)due on June 7,2022 with an annual interest rate of 2.7 $ 4,617 $ 4,616 Line of credit up to RMB 150,000 from China Everbright Bank, 1)due on October 21,2022 with annual interest rate of 1.95%. 3,408 3,407 Line of credit up to RMB 60,000 from Bank of Communications, 1)due on October 25,2022 with an annual interest rate of 3.85%. 1,575 1,568 Total $ 9,600 $ 9,591 (1) Guaranteed by CleanChip For the three months ended March 31, 2022 and 2021, interest expense related to short-term borrowings amounted to $63 and $189, respectively.

OTHER PAYABLE AND ACCRUED EXPEN

OTHER PAYABLE AND ACCRUED EXPENSES	3 Months Ended
	Mar. 31, 2022
OTHER PAYABLE AND ACCRUED EXPENSES [Abstract]
OTHER PAYABLE AND ACCRUED EXPENSES	NOTE 10 – OTHER PAYABLE AND ACCRUED EXPENSES At March 31, 2022 and December 31, 2021, other payable and accrued expenses consisted of the following: March 31, 2022 December 31, 2021 Accrued commissions $ 11,648 $ 12,507 Accrued warranty 6,914 6,631 Accrued payroll 8,317 5,684 Accrued professional fees 601 785 Accrued machine testing fees 1,094 149 Others 7,981 5,979 Total $ 36,555 $ 31,735

LEASES

LEASES	3 Months Ended
	Mar. 31, 2022
LEASES [Abstract]
LEASES	NOTE 11 – 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 March 31, 2022 2021 Operating lease cost $ 647 $ 515 Short-term lease cost 175 79 Lease cost $ 822 $ 594 Supplemental cash flow information related to operating leases was as follows for the months ended March and : Three Months Ended March 31, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflow from operating leases $ 822 $ 594 As of March 31, 2022, maturities of outstanding lease liabilities for all operating leases were as follows: December 31, 2022 $ 1,858 2023 1,265 2024 1,018 2025 56 2026 37 2027 4 Total lease payments $ 4,238 Less: Interest (210 ) Present value of lease liabilities $ 4,028 The weighted average remaining lease terms and discount rates for all operating leases were as follows as of March and December : March 31, 2022 December 31, 2021 Remaining lease term and discount rate: Weighted average remaining lease term (years) 1.68 1.37 Weighted average discount rate 4.37 % 4.54 %

LONG-TERM BORROWINGS

LONG-TERM BORROWINGS	3 Months Ended
	Mar. 31, 2022
LONG-TERM BORROWINGS [Abstract]
LONG-TERM BORROWINGS	NOTE 12 – LONG-TERM BORROWINGS At March 31 and December long-term borrowings consisted of the following: March 31, 2022 December 31, 2021 Loan from China Merchants Bank $ 18,051 $ 18,390 Loans from Bank of China 6,734 6,977 Less: Current portion (2,441 ) (2,410 ) $ 22,344 $ 22,957 The loan from China Merchants Bank is for the purpose of purchasing property in Lingang, Shanghai. The loan is repayable in total installments with the last installment due in November 2030 with an annual interest rate of . The loan is pledged by the property of ACM Shengwei and guaranteed by ACM Shanghai. As of March 31 the right certificate of the pledged property has not been obtained and the procedures of the formal pledge registration in the bank had not been completed. Scheduled principal payments for the outstanding long-term loan as of March 31 are as follows: Year ending December 31 2022 $ 1,724 2023 2,502 2024 7,470 2025 1,968 2026 and onwards 11,121 $ 24,785 For the months ended March 31 interest related to long-term borrowings of and $317 was incurred, of which and $0 was charged to interest expenses and $ and $317 was capitalized as property plant and equipment and other long-term assets, respectively.

OTHER LONG-TERM LIABILITIES

OTHER LONG-TERM LIABILITIES	3 Months Ended
	Mar. 31, 2022
OTHER LONG-TERM LIABILITIES [Abstract]
OTHER LONG-TERM LIABILITIES	NOTE 13 – OTHER LONG-TERM LIABILITIES Other long-term liabilities represent government subsidies received from PRC governmental authorities for development and commercialization of certain technology but not yet recognized. As of March 31 and December other long-term liabilities consisted of the following unearned government subsidies: March 31, 2022 December 31, 2021 Subsidies to Stress Free Polishing project, commenced in 2008 and 2017 $ 737 $ 791 Subsidies to Electro Copper Plating project, commenced in 2014 153 160 Subsidies to other cleaning tools,commenced in 2020 979 1,014 Subsidies to SW Lingang R&D development in 2021 5,985 5,958 Other 691 524 Total $ 8,545 $ 8,447

LONG-TERM INVESTMENT

LONG-TERM INVESTMENT	3 Months Ended
	Mar. 31, 2022
LONG-TERM INVESTMENT [Abstract]
LONG-TERM INVESTMENT	NOTE 14 – LONG-TERM INVESTMENT On September ACM and Ninebell Co., Ltd. (“Ninebell”), a Korean company that is of the Company’s principal material suppliers, entered into an ordinary share purchase agreement, effective as of September pursuant to which Ninebell issued to ACM ordinary shares representing of Ninebell’s post-closing equity for a purchase price of and a common stock purchase agreement, effective as of September pursuant to which ACM issued shares of Class A common stock to Ninebell for a purchase price of at per share. The investment in Ninebell is accounted for under the equity method. On June ACM Shanghai and Shengyi Semiconductor Technology Co., Ltd. (“Shengyi”), a company based in Wuxi, China that is of the Company’s component suppliers, entered into an agreement pursuant to which Shengyi issued to ACM Shanghai shares representing of Shengyi’s post-closing equity for a purchase price of The investment in Shengyi is accounted for under the equity method. On September ACM Shanghai, entered into a Partnership Agreement with 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 ACM Shanghai invested RMB ( , which represented of the partnership’s total subscribed capital. The investment in Hefei Shixi is accounted for under the equity method in accordance with Accounting Standards Codification, or ASC, - -S - On October 29, 2021, ACM Shanghai and Waferworks (Shanghai) Co., Ltd (“Waferworks”), a company based in Shanghai and one of the Company’s customers, entered into an agreement pursuant to which Waferworks issued to ACM Shanghai shares representing 0.25% of Waferworks’ post-closing equity for a purchase price of $1,568. As there is no readily determinable fair value, the Company measures the investment in Waferworks at cost minus impairment, if any. The Company treats the equity investment in the consolidated financial statements under the equity method. Under the equity method, the investment is initially recorded at cost, adjusted for any excess of the Company’s share of the incorporated-date fair values of the investee’s identifiable net assets over the cost of the investment (if any). Thereafter, the investment is adjusted for the post incorporation change in the Company’s share of the investee’s net assets and any impairment loss relating to the investment. Equity investee: March 31, 2022 December 31, 2021 Ninebell $ 2,945 $ 3,051 Shengyi 269 211 Hefei Shixi 7,877 7,864 Subtotal 11,091 11,126 Other investee: Waferworks 1,575 1,568 Total $ 12,666 $ 12,694 For the months ended March and the Company’s share of equity investees’ net income (loss) was ($71) and respectively, which amounts were included in equity income (loss) in net income (loss) of affiliates in the accompanying condensed consolidated statements of operations and comprehensive income.

TRADING SECURITIES

TRADING SECURITIES	3 Months Ended
	Mar. 31, 2022
TRADING SECURITIES [Abstract]
TRADING SECURITIES	NOTE 15 – TRADING SECURITIES Pursuant to a Partnership Agreement dated (the “Partnership Agreement”) and a Supplementary Agreement thereto dated (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 (the “Partnership”) of which China Fortune-Tech Capital Co., Ltd serves as general partner and 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 SMIC to be listed on the STAR Market. 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 . Upon the closing of the SMIC offering in , the initial number of SMIC shares owned by the Partnership was apportioned to all of the limited partners in proportion to their respective capital contributions ( in the case of ACM Shanghai). 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, limited partners holding at least 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. As SMIC was listed on the STAR Market in July 2020, ACM Shanghai’s investment is accounted for as trading securities and is stated at fair market value, which The components of trading securities were as follows: March 31, 2022 December 31, 2021 Trading securities listed in Shanghai Stock Exchange Cost $ 15,431 $ 15,363 Market value 25,772 29,498 Unrealized loss on trading securities, net of exchange difference amounted to

RELATED PARTY BALANCES AND TRAN

RELATED PARTY BALANCES AND TRANSACTIONS	3 Months Ended
	Mar. 31, 2022
RELATED PARTY BALANCES AND TRANSACTIONS [Abstract]
RELATED PARTY BALANCES AND TRANSACTIONS	NOTE 16 – RELATED PARTY BALANCES AND TRANSACTIONS Prepaid expenses March 31, December 31, 2022 2021 Ninebell $ 4,501 $ 2,383 Accounts payable March 31, December 31, 2022 2021 Ninebell $ 4,982 $ 5,703 Shengyi 1,995 2,196 Total $ 6,977 $ 7,899 Three Months Ended Purchase of materials 2022 2021 Ninebell $ 7,379 $ 6,882 Shengyi 585 358 Total $ 7,964 $ 7,240 Three Months Ended March 31 Service fee charged by 2022 2021 Shengyi $ 34 $ 142 Total $ 34 $ 142

COMMON STOCK

COMMON STOCK	3 Months Ended
	Mar. 31, 2022
COMMON STOCK [Abstract]
COMMON STOCK	NOTE 17 – COMMON STOCK In March 2022 ACM effectuated the Stock Split, which was a 3-for-1 stock split of Class A and Class B common stock in the form of a stock dividend. Each stockholder of record at the close of business on March 16, 2022, received a dividend of two additional shares of Class A common stock for each then-held share of Class A common stock and two additional shares of Class B common stock for each then-held share of Class B common stock, which were distributed after the close of trading on March 23, 2022. ACM is authorized to issue 150,000,000 shares of Class A common stock and 5,307,816 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 of ACM unless such 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 three months ended March 31, 2022, ACM issued 425,349 shares of Class A common stock upon option exercises by employees and non-employees, and an additional 1,002 shares of Class A common stock upon conversion of an equal number of shares of Class B common stock. During the three months ended March 31, 2021, ACM issued 929,820 shares of Class A common stock upon option exercises by employees and non-employees and an additional 100,002 shares of Class A common stock upon conversion of an equal number of shares of Class B common stock. At March 31, 2022 and December 31, 2021, the number of shares of Class A common stock issued and outstanding was 54,035,280 and 53,608,929, respectively. At March 31, 2022 and December 31, 2021, the number of shares of Class B common stock issued and outstanding was 5,086,812 and 5,087,814, respectively.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2022
STOCK-BASED COMPENSATION [Abstract]
STOCK-BASED COMPENSATION	NOTE 18 – 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 have a short history of trading on a public market, 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 its 1998 Stock Option Plan, its 2016 Omnibus Incentive Plan and as standalone options. ACM granted stock options to employees under the 2016 Omnibus Incentive Plan during the three months ended March 31, 2022. The vesting condition may consist of a service period determined by the Board of Directors for a 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 March 31, 2022 2021 Stock-Based Compensation Expense: Cost of revenue $ 113 $ 71 Sales and marketing expense 354 505 Research and development expense 411 229 General and administrative expense 496 405 $ 1,374 $ 1,210 Three Months Ended March 31, 2022 2021 Stock-based compensation expense by type: Employee stock purchase plan $ 1,273 $ 1,085 Non-employee stock purchase plan 11 40 Subsidiary option grants 90 85 $ 1,374 $ 1,210 Employee Awards The following table summarizes the Company’s employee share option activities during the three-months ended March 31, 2022: Number of Option Shares (1) Weighted Average Grant Date Fair Value Weighted Average Exercise Price Weighted Average Remaining Contractual Term Outstanding at December 31, 2021 8,402,247 2.45 5.88 6.53 years Granted 853,500 11.49 25.45 Exercised (273,264 ) 0.97 2.45 Forfeited/cancelled - - - Outstanding at March 31, 2022 8,982,483 $ 3.36 $ 7.85 6.64 years Vested and exercisable at March 31, 2022 5,772,480 (1) Prior period results have been adjusted to reflect the Stock Split effected in March 2022. See Note 1 for details. As of March 31, 2022 and December 31, 2021 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. The fair value of options granted to employees with a service period based condition is estimated on the grant date using the Black-Scholes valuation. Three-months ended March 31, Year-ended December 31, 2022 (6) 2021 (6) Fair value of common share(1) $ 25.45 $ 27.58-37.33 Expected term in years(2) 5.50-6.25 6.25 Volatility(3) 49.43 % 48.53-49.47 % Risk-free interest rate(4) 1.70 % 1.00%-1.44 % Expected dividend(5) 0 % 0 % (1) Equal to closing 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 % as ACM has no history or expectation of paying a dividend on its common stock. (6) Prior period results have been adjusted to reflect the Stock Split effected in March 2022. See Note 1 for details. Non-employee Awards The following table summarizes the Company’s non-employee share option activities during the three months ended March 31, 2022: Number of Weighted Weighted Average Exercise Price Weighted Average Remaining Contractual Term Outstanding at December 31, 2021 2,067,018 0.33 0.97 3.98 Granted - - - Exercised (152,085 ) 0.23 0.61 Expired - - - Forfeited/cancelled (1,413 ) 0.16 0.37 Outstanding at March 31, 2022 1,913,520 $ 0.34 $ 1.00 3.87 Vested and exercisable at March 31, 2022 1,883,520 (1) Prior period results have been adjusted to reflect the Stock Split effected in March 2022. See Note 1 for details. As of March 31, 2022 and December 31, 2021, $90 and $102, 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 0.06 years and 0.06 years, respectively. Total recognized compensation cost may be adjusted for future changes in estimated forfeitures. ACM Shanghai Option Grants The following table summarizes the ACM Shanghai employee stock option activities during the three months ended March 31, 2022: Number of Weighted Weighted Average Exercise Price Weighted Average Outstanding at December 31, 2021 5,377,500 $ 0.24 $ 2.04 2.50 Granted - - - Exercised - - - Expired - - - Forfeited/cancelled - - - Outstanding at March 31, 2022 5,377,500 $ 0.24 $ 2.04 2.26 years Vested and exercisable at March 31, 2022 - During the three months ended March 31, 2022 and 2021, the Company recognized stock-based compensation expense of $90 and $85, respectively, related to stock option grants of ACM Shanghai. As of March 31, 2022 and December 31, 2021, $438 and $525, respectively, 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 1.26 years and 1.5 years, respectively. Total recognized compensation cost may be adjusted for future changes in estimated forfeitures.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2022
INCOME TAXES [Abstract]
INCOME TAXES	NOTE 19 – 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 12.5% 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 benefit (expense) of $4,011 and $2,770 during the three months ended March 31, 2022 and 2021, respectively. The benefit in 2022 primarily resulted from the tax effect of the operating loss generated. The increase in our effective income tax rate for the three months ended March 31, 2022 compared to the same period of the prior year was primarily due to a new requirement to capitalize and amortize previously deductible research and experimental expenses resulting from a change in Section 174 made by the Tax Cuts and Jobs Act of 2017 (the “TCJA”) which became effective on January 1, 2022, and a decrease in discrete tax benefits associated with stock-based compensation deductions. Under the TCJA, the Company is required to capitalize, and subsequently amortize R&D expenses over fifteen years for research activities conducted outside of the U.S. The capitalization of overseas R&D expenses resulted in a significant increase in the Company’s global intangible low-taxed income inclusion. Congress is considering legislation, but legislation has not passed, that would defer the capitalization requirement to later years. As of March 31, 2022, the Company’s total unrecognized tax benefits were $6,066 of which $5,950 would 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. $71 of interest or penalties were recognized for the three months ended March 31, 2022. 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, 1999 through December 31, 2021. 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 21% for U.S. federal income tax purposes and 12.5% to 25% 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 treatment of stock-based compensation and non-US research expenses. The Company’s three PRC subsidiaries, ACM Shanghai, ACM Wuxi and Shengwei, are liable for PRC corporate income taxes at the rates of 12.5%, 25% and 25%, 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 25%. According to Guoshuihan 2009 No. 203, an entity certified as an “advanced and new technology enterprise” is entitled to a preferential income tax rate of 12.5%. ACM Shanghai was certified as an “advanced and new technology enterprise” in 2012 and again in 2016 and 2018, with an effective period of three years. 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 1999 through 2021. 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. Income tax benefit (expense) was as follows: Three Months Ended March 31, 2022 2021 Total income tax benefit $ 4,011 $ 2,770

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2022
COMMITMENTS AND CONTINGENCIES [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 20 – 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 March the Company had of open capital commitments. Covenants in Shengwei’s Grant Contract for State-owned Construction Land Use Right in Shanghai City with the China (Shanghai) Pilot Free Trade Zone Lingang Special Area Administration require, among other things, that Shengwei 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 450.0 million ($63,400) or (b) within six years 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 157.6 million ($22,000) 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 March 31, 2022 and December 31, 2021, the Company had paid in total $14,894 and $13,265, respectively for its Lingang-related investments. In the normal course of business, the Company is subject to contingencies, including legal proceedings and environmental claims arising out of the normal course of businesses that relate to a wide range of matters, including among others, contracts breach liability. The Company records accruals for such contingencies based upon the assessment of the probability of occurrence and, where determinable, an estimate of the liability. Management may consider many factors in making these assessments including past history, scientific evidence and the specifics of each matter. Some of these contingencies involve claims that are subject to substantial uncertainties and unascertainable damages. The Company’s management has evaluated all such proceedings and claims that existed as of March 31, 2022 or December 31, 2021. In the opinion of management, no provision for liability nor disclosure was required as of March 31, 2022 related to any claim against the Company because: (a) there is not a reasonable possibility that a loss exceeding amounts already recognized (if any) may be incurred with respect to such claim; (b) a reasonably possible loss or range of loss cannot be estimated; or (c) such estimate is immaterial. As of March 31, 2022, the Company had no outstanding legal proceedings.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The Company’s condensed consolidated financial statements include the accounts of ACM and its subsidiaries, including ACM Shanghai and its subsidiaries, which include ACM Wuxi, ACM Shengwei, ACM Beijing, and CleanChip (the subsidiaries of which include ACM California and ACM Korea). ACM’s subsidiaries are those entities in which ACM, directly or indirectly, controls a majority 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 accompanying condensed consolidated financial statements should be read in conjunction with the historical consolidated financial statements of the Company for the year ended December 31, 2021 included in ACM’s Annual Report on Form 10-K for the year ended December 31, 2021. The accompanying condensed consolidated balance sheet as of March 31, 2022, condensed consolidated statements of operations and comprehensive income for the three months ended March 31, 2022 and 2021, condensed consolidated statements of changes in stockholders’ equity for the three months ended March 31, 2022 and 2021, and condensed consolidated statements of cash flows for the three months ended March 31, 2022 and 2021 are unaudited. In the opinion of management, these 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 March 31, 2022 and the results of operations for the three months ended March 31, 2022 are not necessarily indicative of the results to be expected for any future period. Common Stock Split Unless otherwise indicated, all prior period share and per share amounts, common stock, other capital, and retained earnings information presented in the accompanying financial statements and these notes thereto has been retroactively adjusted to reflect the impact of the Stock Split (Note 1). Proportional adjustments were also made to outstanding awards under the Company’s stock-based compensation plans.
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 pandemic 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 or future repetitions of the business disruptions, and related financial impacts, cannot be estimated at this time. COVID-19 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. The Company conducts substantially all of its product development, manufacturing, support and services in the PRC, and those activities have been directly impacted by COVID-19 and related restrictions on transportation and public appearances. In March 2022, several regions in China began to experience elevated levels of COVID-19 infections, and the PRC government instituted policies to restrict the spread of the virus. The policies began with an increase of “ The Company’s corporate headquarters are located in San Mateo County in the San Francisco Bay Area. The effects of actions taken by local governmental agencies in the future may negatively impact productivity, disrupt the business of the Company and delay timelines, the magnitude of which will depend, in part, on the length and severity of the restrictions and other limitations on the Company’s ability to conduct its business in the ordinary course. The prolonged and broad-based shift to remote working environments resulting from COVID-19 continues to create inherent productivity, connectivity, and oversight challenges and could affect the Company’s ability to enhance, develop and support existing products and services, detect and prevent spam and problematic content, hold product sales and marketing events, and generate new sales leads. In addition, the changed environment under which the Company is operating could have an effect on its internal controls over financial reporting as well as its ability to meet a number of its compliance requirements in a timely or quality manner. Additional or extended governmental lockdowns, restrictions or regulations could significantly impact the ability of the Company’s employees and vendors to work productively. Governmental restrictions have been inconsistent globally and it remains unclear when a return to worksite locations or travel will be permitted or what restrictions will be in place in those environments. As the Company prepares to return its workforce to the office in more locations in 2022, it may experience increased costs as it prepares its facilities for a safe return to work environment and experiments with hybrid work models and may suffer additional adverse effects on its ability to compete effectively and maintain its corporate culture. Extended periods of interruption to the Company’s corporate, development or manufacturing facilities due to COVID-19 could cause the Company to lose revenue and market share, which would depress its financial performance and could be difficult to recapture. The Company’s business may also be harmed if travel to or from the PRC or the United States continues to be restricted or inadvisable or if members of management and other employees are absent because they contract COVID-19, they elect not to come to work due to the illness affecting others in the Company’s office or laboratory facilities, or they are subject to quarantines or other governmentally imposed restrictions.
Use of Estimates	Use of Estimates The preparation of the 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 revenues and expenses during the reported period in the 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 fair value of trading securities, stock-based compensation arrangements and warrant 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 evaluates these estimates and assumptions on a regular basis. Actual results could differ from those estimates and assumptions.
Basic and Diluted Net Income per Common Share	Basic and Diluted Net Income per Common Share Basic and diluted net income per common share are calculated as follows, as adjusted to give effect to the Stock Split: Three Months Ended March 31, 2022 2021 Numerator: Net income (loss) $ (7,443 ) $ 5,822 Less: Net income (loss) attributable to non-controlling interests (1,657 ) 352 Net income (loss) available to common stockholders, basic $ (5,786 ) $ 5,470 Less: Dilutive effect arising from share-based awards by ACM Shanghai (86 ) - Net income (loss) available to common stockholders, diluted $ (5,700 ) $ 5,470 Weighted average shares outstanding, basic 58,827,390 56,360,610 Effect of dilutive securities 7,123,532 9,244,230 Weighted average shares outstanding, diluted 65,950,922 65,604,840 Net income (loss) per common share: Basic (0.10 ) 0.10 Diluted $ (0.09 ) $ 0.08 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 cash dividends during the three months ended March 31, 2022 or 2021, 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 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, including stock options and issued warrants, that could share in ACM’s earnings. Certain potential dilutive securities were excluded from the net income per share calculation because the impact would be anti-dilutive. ACM’s potential dilutive securities consist of warrants and stock options for the three months ended March 31, 2022 and 2021.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to credit risk consist principally of cash and cash equivalents, time deposits, and accounts receivable. The Company deposits and invests its cash with financial institutions that management believes are creditworthy. The Company is potentially subject to concentrations of credit risks in its accounts receivable. For the three months ended March 31, 2022 and 2021, the Company’s three largest customers in total accounted for 62.6% and 60.1%, respectively, of revenue. As of March 31, 2022 and December 31, 2021, the Company’s two largest customers in total accounted for 53.2% and 53.8%, 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 Not Yet Adopted In June 2016 the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In November 2019 the FASB issued ASU 2019-10, Financial Instruments Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates,

DESCRIPTION OF BUSINESS (Tables

DESCRIPTION OF BUSINESS (Tables)	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 December 31, 2021 ACM Research (Shanghai), Inc. PRC, May 2005 82.5 % 82.5 % ACM Research (Wuxi), Inc. PRC, July 2011 82.5 % 82.5 % CleanChip Technologies Limited Hong Kong, June 2017 82.5 % 82.5 % ACM Research Korea CO., LTD. Korea, December 2017 82.5 % 82.5 % Shengwei Research (Shanghai), Inc. PRC, March 2019 82.5 % 82.5 % ACM Research (CA), Inc. USA, April 2019 82.5 % 82.5 % ACM Research (Cayman), Inc. Cayman Islands, April 2019 100.0 % 100.0 % ACM Research (Singapore) PTE. Ltd. Singapore, August 2021 100.0 % 100.0 % ACM Research (Beijing), Inc. PRC, February 2022 82.5 % — Hanguk ACM CO., LTD. Korea, March 2022 100.0 % —

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Mar. 31, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Basic and Diluted Net Income per Common Share	Basic and diluted net income per common share are calculated as follows, as adjusted to give effect to the Stock Split: Three Months Ended March 31, 2022 2021 Numerator: Net income (loss) $ (7,443 ) $ 5,822 Less: Net income (loss) attributable to non-controlling interests (1,657 ) 352 Net income (loss) available to common stockholders, basic $ (5,786 ) $ 5,470 Less: Dilutive effect arising from share-based awards by ACM Shanghai (86 ) - Net income (loss) available to common stockholders, diluted $ (5,700 ) $ 5,470 Weighted average shares outstanding, basic 58,827,390 56,360,610 Effect of dilutive securities 7,123,532 9,244,230 Weighted average shares outstanding, diluted 65,950,922 65,604,840 Net income (loss) per common share: Basic (0.10 ) 0.10 Diluted $ (0.09 ) $ 0.08

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	3 Months Ended
	Mar. 31, 2022
REVENUE FROM CONTRACTS WITH CUSTOMERS [Abstract]
Disaggregated Revenue Information	The Company assesses revenues based upon the nature or type of goods or services it provides and the geographic location of the related businesses. The following tables present disaggregated revenue information: Three Months Ended , 2022 2021 Single wafer cleaning, Tahoe and semi-critical cleaning equipment $ 26,033 $ 32,413 ECP (front-end and packaging), furnace and other technologies 12,248 5,550 Advanced packaging (excluding ECP), services & spares 3,905 5,769 Total Revenue By Product Category $ 42,186 $ 43,732 Wet cleaning and other front-end processing tools $ 31,702 $ 31,900 Advanced packaging, other processing tools, services and spares 10,484 11,832 Total Revenue Fron t-end $ 42,186 $ 43,732 Three Months Ended , 2022 2021 Mainland China $ 42,130 $ 43,696 Other Regions 56 36 $ 42,186 $ 43,732

ACCOUNTS RECEIVABLE (Tables)

ACCOUNTS RECEIVABLE (Tables)	3 Months Ended
	Mar. 31, 2022
ACCOUNTS RECEIVABLE [Abstract]
Accounts Receivable	A t March 31, 2022 and December 31, 2021, accounts receivable consisted of the followin March 31, 2022 December 31, 2021 Accounts receivable $ 106,351 $ 105,553 Less: Allowance for doubtful accounts - - Total $ 106,351 $ 105,553

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Mar. 31, 2022
INVENTORIES [Abstract]
Inventory	At March 31, 2022 and December 31, 2021, inventory consisted of the following: March 31, 2022 December 31, 2021 Raw materials $ 108,157 $ 90,552 Work in process 56,755 35,840 Finished goods 106,626 91,724 Total inventory $ 271,538 $ 218,116

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)	3 Months Ended
	Mar. 31, 2022
PROPERTY, PLANT AND EQUIPMENT, NET [Abstract]
Property, Plant and Equipment	At March 31, 2022 and December 31, 2021, property, plant and equipment consisted of the following: March 31, 2022 December 31, 2021 Buildings and plants $ 41,577 $ - Manufacturing equipment 8,738 7,973 Office equipment 2,559 2,012 Transportation equipment 217 217 Leasehold improvement 4,821 4,134 Total cost 57,912 14,336 Less: Total accumulated depreciation (6,837 ) (5,900 ) Construction in progress 6,605 5,606 Total property, plant and equipment, net $ 57,680 $ 14,042

LAND USE RIGHT, NET (Tables)

LAND USE RIGHT, NET (Tables)	3 Months Ended
	Mar. 31, 2022
LAND USE RIGHT, NET [Abstract]
Land Use Rights	A summary of land use right is as follows: March 31, 2022 December 31, 2021 Land use right purchase amount $ 10,011 $ 9,966 Less: accumulated amortization (350 ) (299 ) Land use right, net $ 9,661 $ 9,667
Annual Amortization of Land Use Right	The annual amortization of land use right for each of the next five years is as follows: Year ending December 31, 2022 $ 200 2023 200 2024 200 2025 200 2026 200

OTHER LONG-TERM ASSETS (Tables)

OTHER LONG-TERM ASSETS (Tables)	3 Months Ended
	Mar. 31, 2022
OTHER LONG-TERM ASSETS [Abstract]
Other Long-term Assets	At March 31, 2022 and December 31, 2021, other long-term assets consisted of the following: March 31, 2022 December 31, 2021 Prepayment for property - Lingang $ - $ 42,111 Prepayment for property, plant and equipment and other non-current assets 1,159 440 Prepayment for property - lease deposit 718 429 Security deposit for land use right 776 773 Others 906 1,264 Total other long-term assets $ 3,559 $ 45,017

SHORT-TERM BORROWINGS (Tables)

SHORT-TERM BORROWINGS (Tables)	3 Months Ended
	Mar. 31, 2022
SHORT-TERM BORROWINGS [Abstract]
Short-Term Borrowings	At March 31, 2022 and December 31, 2021, short-term borrowings consisted of the following: March 31, 2022 December 31, 2021 Line of credit up to RMB 100,000 1)due on June 7,2022 with an annual interest rate of 2.7 $ 4,617 $ 4,616 Line of credit up to RMB 150,000 from China Everbright Bank, 1)due on October 21,2022 with annual interest rate of 1.95%. 3,408 3,407 Line of credit up to RMB 60,000 from Bank of Communications, 1)due on October 25,2022 with an annual interest rate of 3.85%. 1,575 1,568 Total $ 9,600 $ 9,591 (1) Guaranteed by CleanChip

OTHER PAYABLE AND ACCRUED EXP_2

OTHER PAYABLE AND ACCRUED EXPENSES (Tables)	3 Months Ended
	Mar. 31, 2022
OTHER PAYABLE AND ACCRUED EXPENSES [Abstract]
Other Payable and Accrued Expenses	At March 31, 2022 and December 31, 2021, other payable and accrued expenses consisted of the following: March 31, 2022 December 31, 2021 Accrued commissions $ 11,648 $ 12,507 Accrued warranty 6,914 6,631 Accrued payroll 8,317 5,684 Accrued professional fees 601 785 Accrued machine testing fees 1,094 149 Others 7,981 5,979 Total $ 36,555 $ 31,735

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Mar. 31, 2022
LEASES [Abstract]
Components of Lease Expense	The components of lease expense were as follows: Three Months Ended March 31, 2022 2021 Operating lease cost $ 647 $ 515 Short-term lease cost 175 79 Lease cost $ 822 $ 594
Supplemental Cash Flow Information Related to Operating Leases	Supplemental cash flow information related to operating leases was as follows for the months ended March and : Three Months Ended March 31, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflow from operating leases $ 822 $ 594
Maturities of Outstanding Lease Liabilities for Operating Leases	As of March 31, 2022, maturities of outstanding lease liabilities for all operating leases were as follows: December 31, 2022 $ 1,858 2023 1,265 2024 1,018 2025 56 2026 37 2027 4 Total lease payments $ 4,238 Less: Interest (210 ) Present value of lease liabilities $ 4,028
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 March and December : March 31, 2022 December 31, 2021 Remaining lease term and discount rate: Weighted average remaining lease term (years) 1.68 1.37 Weighted average discount rate 4.37 % 4.54 %

LONG-TERM BORROWINGS (Tables)

LONG-TERM BORROWINGS (Tables)	3 Months Ended
	Mar. 31, 2022
LONG-TERM BORROWINGS [Abstract]
Long-Term Borrowings	At March 31 and December long-term borrowings consisted of the following: March 31, 2022 December 31, 2021 Loan from China Merchants Bank $ 18,051 $ 18,390 Loans from Bank of China 6,734 6,977 Less: Current portion (2,441 ) (2,410 ) $ 22,344 $ 22,957
Principal Payments for Outstanding Long-Term Loan	Scheduled principal payments for the outstanding long-term loan as of March 31 are as follows: Year ending December 31 2022 $ 1,724 2023 2,502 2024 7,470 2025 1,968 2026 and onwards 11,121 $ 24,785

OTHER LONG-TERM LIABILITIES (Ta

OTHER LONG-TERM LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2022
OTHER LONG-TERM LIABILITIES [Abstract]
Other Long-Term Liabilities	Other long-term liabilities represent government subsidies received from PRC governmental authorities for development and commercialization of certain technology but not yet recognized. As of March 31 and December other long-term liabilities consisted of the following unearned government subsidies: March 31, 2022 December 31, 2021 Subsidies to Stress Free Polishing project, commenced in 2008 and 2017 $ 737 $ 791 Subsidies to Electro Copper Plating project, commenced in 2014 153 160 Subsidies to other cleaning tools,commenced in 2020 979 1,014 Subsidies to SW Lingang R&D development in 2021 5,985 5,958 Other 691 524 Total $ 8,545 $ 8,447

LONG-TERM INVESTMENT (Tables)

LONG-TERM INVESTMENT (Tables)	3 Months Ended
	Mar. 31, 2022
LONG-TERM INVESTMENT [Abstract]
Long-Term Investment	The Company treats the equity investment in the consolidated financial statements under the equity method. Under the equity method, the investment is initially recorded at cost, adjusted for any excess of the Company’s share of the incorporated-date fair values of the investee’s identifiable net assets over the cost of the investment (if any). Thereafter, the investment is adjusted for the post incorporation change in the Company’s share of the investee’s net assets and any impairment loss relating to the investment. Equity investee: March 31, 2022 December 31, 2021 Ninebell $ 2,945 $ 3,051 Shengyi 269 211 Hefei Shixi 7,877 7,864 Subtotal 11,091 11,126 Other investee: Waferworks 1,575 1,568 Total $ 12,666 $ 12,694

TRADING SECURITIES (Tables)

TRADING SECURITIES (Tables)	3 Months Ended
	Mar. 31, 2022
TRADING SECURITIES [Abstract]
Components of Trading Securities	The components of trading securities were as follows: March 31, 2022 December 31, 2021 Trading securities listed in Shanghai Stock Exchange Cost $ 15,431 $ 15,363 Market value 25,772 29,498

RELATED PARTY BALANCES AND TR_2

RELATED PARTY BALANCES AND TRANSACTIONS (Tables)	3 Months Ended
	Mar. 31, 2022
RELATED PARTY BALANCES AND TRANSACTIONS [Abstract]
Related Party Balances and Transactions	Prepaid expenses March 31, December 31, 2022 2021 Ninebell $ 4,501 $ 2,383 Accounts payable March 31, December 31, 2022 2021 Ninebell $ 4,982 $ 5,703 Shengyi 1,995 2,196 Total $ 6,977 $ 7,899 Three Months Ended Purchase of materials 2022 2021 Ninebell $ 7,379 $ 6,882 Shengyi 585 358 Total $ 7,964 $ 7,240 Three Months Ended March 31 Service fee charged by 2022 2021 Shengyi $ 34 $ 142 Total $ 34 $ 142

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 2021 Stock-Based Compensation Expense: Cost of revenue $ 113 $ 71 Sales and marketing expense 354 505 Research and development expense 411 229 General and administrative expense 496 405 $ 1,374 $ 1,210 Three Months Ended March 31, 2022 2021 Stock-based compensation expense by type: Employee stock purchase plan $ 1,273 $ 1,085 Non-employee stock purchase plan 11 40 Subsidiary option grants 90 85 $ 1,374 $ 1,210
Assumptions Used to Determine Fair Value of Share Options Granted	The fair value of options granted to employees with a service period based condition is estimated on the grant date using the Black-Scholes valuation. Three-months ended March 31, Year-ended December 31, 2022 (6) 2021 (6) Fair value of common share(1) $ 25.45 $ 27.58-37.33 Expected term in years(2) 5.50-6.25 6.25 Volatility(3) 49.43 % 48.53-49.47 % Risk-free interest rate(4) 1.70 % 1.00%-1.44 % Expected dividend(5) 0 % 0 % (1) Equal to closing 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 % as ACM has no history or expectation of paying a dividend on its common stock. (6) Prior period results have been adjusted to reflect the Stock Split effected in March 2022. See Note 1 for details.
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 three-months ended March 31, 2022: Number of Option Shares (1) Weighted Average Grant Date Fair Value Weighted Average Exercise Price Weighted Average Remaining Contractual Term Outstanding at December 31, 2021 8,402,247 2.45 5.88 6.53 years Granted 853,500 11.49 25.45 Exercised (273,264 ) 0.97 2.45 Forfeited/cancelled - - - Outstanding at March 31, 2022 8,982,483 $ 3.36 $ 7.85 6.64 years Vested and exercisable at March 31, 2022 5,772,480 (1) Prior period results have been adjusted to reflect the Stock Split effected in March 2022. See Note 1 for details.
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 three months ended March 31, 2022: Number of Weighted Weighted Average Exercise Price Weighted Average Outstanding at December 31, 2021 5,377,500 $ 0.24 $ 2.04 2.50 Granted - - - Exercised - - - Expired - - - Forfeited/cancelled - - - Outstanding at March 31, 2022 5,377,500 $ 0.24 $ 2.04 2.26 years Vested and exercisable at March 31, 2022 -
Non-Employee Stock Option [Member]
Stock-Based Compensation [Abstract]
Summary of Share Option Activities	The following table summarizes the Company’s non-employee share option activities during the three months ended March 31, 2022: Number of Weighted Weighted Average Exercise Price Weighted Average Remaining Contractual Term Outstanding at December 31, 2021 2,067,018 0.33 0.97 3.98 Granted - - - Exercised (152,085 ) 0.23 0.61 Expired - - - Forfeited/cancelled (1,413 ) 0.16 0.37 Outstanding at March 31, 2022 1,913,520 $ 0.34 $ 1.00 3.87 Vested and exercisable at March 31, 2022 1,883,520 (1) Prior period results have been adjusted to reflect the Stock Split effected in March 2022. See Note 1 for details.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended
	Mar. 31, 2022
INCOME TAXES [Abstract]
Income Tax Benefit (Expense)	Income tax benefit (expense) was as follows: Three Months Ended March 31, 2022 2021 Total income tax benefit $ 4,011 $ 2,770

DESCRIPTION OF BUSINESS (Detail

DESCRIPTION OF BUSINESS (Details) $ in Thousands	Nov. 30, 2021USD ($)shares	Sep. 13, 2017	Mar. 31, 2022shares	Mar. 31, 2021	Dec. 31, 2021shares	Dec. 31, 2019USD ($)	Mar. 16, 2022shares	Nov. 30, 2021¥ / sharesshares	Sep. 30, 2020	Nov. 08, 2017	Aug. 31, 2017
Description of Business [Abstract]
Stock split ratio			3	3
Class A Common Stock [Member]
Description of Business [Abstract]
Reverse stock split		0.33
Stock split ratio			3	3	3
Additional shares reserved for issuance as dividends (in shares)			2				2
Common stock, shares outstanding (in shares)			54,035,280		53,608,929
Class B Common Stock [Member]
Description of Business [Abstract]
Reverse stock split		0.33
Stock split ratio			3	3	3
Additional shares reserved for issuance as dividends (in shares)			2				2
Common stock, shares outstanding (in shares)			5,086,812		5,087,814
ACM Research (Shanghai), Inc. [Member]
Description of Business [Abstract]
Purchase of equity interest percentage									8.30%	18.36%	18.77%
Term to complete listing of shares			3 years
Name of subsidiaries			ACM Research (Shanghai), Inc.
Place and date of incorporation			PRC, May 2005
Effective interest held as at			82.50%		82.50%
ACM Research (Shanghai), Inc. [Member] | IPO [Member]
Description of Business [Abstract]
Offering of shares (in shares)	43,355,753
Percentage amount of shares offered from shares outstanding								10.00%
Common stock, shares outstanding (in shares)								433,557,100
Share price (in RMB per share) | ¥ / shares								¥ 85
Gross proceeds of stock issuance | $	$ 545,512
Percentage of shares owned by Company after stock issuance	82.50%
ACM Research (Wuxi), Inc. [Member]
Description of Business [Abstract]
Name of subsidiaries			ACM Research (Wuxi), Inc.
Place and date of incorporation			PRC, July 2011
Effective interest held as at			82.50%		82.50%
CleanChip Technologies Limited [Member]
Description of Business [Abstract]
Proceeds from sale of interest in subsidiary | $						$ 3,500
Name of subsidiaries			CleanChip Technologies Limited
Place and date of incorporation			Hong Kong, June 2017
Effective interest held as at			82.50%		82.50%
ACM Research Korea CO., LTD [Member]
Description of Business [Abstract]
Name of subsidiaries			ACM Research Korea CO., LTD.
Place and date of incorporation			Korea, December 2017
Effective interest held as at			82.50%		82.50%
Shengwei Research (Shanghai), Inc. [Member]
Description of Business [Abstract]
Purchase of equity interest percentage									91.70%
Name of subsidiaries			Shengwei Research (Shanghai), Inc.
Place and date of incorporation			PRC, March 2019
Effective interest held as at			82.50%		82.50%
ACM Research (CA), Inc. [Member]
Description of Business [Abstract]
Name of subsidiaries			ACM Research (CA), Inc.
Place and date of incorporation			USA, April 2019
Effective interest held as at			82.50%		82.50%
ACM Research (Cayman), Inc. [Member]
Description of Business [Abstract]
Name of subsidiaries			ACM Research (Cayman), Inc.
Place and date of incorporation			Cayman Islands, April 2019
Effective interest held as at			100.00%		100.00%
ACM Research (Singapore) PTE, Ltd. [Member]
Description of Business [Abstract]
Name of subsidiaries			ACM Research (Singapore) PTE. Ltd.
Place and date of incorporation			Singapore, August 2021
Effective interest held as at			100.00%		100.00%
ACM Research (Beijing), Inc. [Member]
Description of Business [Abstract]
Name of subsidiaries			ACM Research (Beijing), Inc.
Place and date of incorporation			PRC, February 2022
Effective interest held as at			82.50%		0.00%
Hanguk ACM CO., LTD. [Member]
Description of Business [Abstract]
Name of subsidiaries			Hanguk ACM CO., LTD.
Place and date of incorporation			Korea, March 2022
Effective interest held as at			100.00%		0.00%

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Basic and Diluted Net Income per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Numerator [Abstract]
Net income (loss)		$ (7,443)	$ 5,822
Less: Net income (loss) attributable to non-controlling interests		(1,657)	352
Net income (loss) attributable to ACM Research, Inc.		(5,786)	5,470
Less: Dilutive effect arising from share-based awards by ACM Shanghai		(86)	0
Net income (loss) available to common stockholders, diluted		$ (5,700)	$ 5,470
Weighted average shares outstanding, basic (in shares)	[1]	58,827,390	56,360,610
Effect of dilutive securities (in shares)		7,123,532	9,244,230
Weighted average shares outstanding, diluted (in shares)	[1]	65,950,922	65,604,840
Net income (loss) per common share [Abstract]
Basic (in dollars per share)		$ (0.10)	$ 0.10
Diluted (in dollars per share)		$ (0.09)	$ 0.08
[1]	Prior period results have been adjusted to reflect the three-for-one stock split effected in the form of a stock dividend in March 2022. See Note 1 for details

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Concentration of Credit Risk (Details) - Customer Concentration Risk [Member] - Three Customers [Member] - Customer	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Revenue Benchmark [Member]
Concentration of Credit Risk [Abstract]
Number of major customers	3	3
Concentration of credit risk	62.60%	60.10%
Accounts Receivable [Member]
Concentration of Credit Risk [Abstract]
Number of major customers	2		2
Concentration of credit risk	53.20%		53.80%

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregated Revenue Information [Abstract]
Revenue	$ 42,186	$ 43,732
Mainland China [Member]
Disaggregated Revenue Information [Abstract]
Revenue	42,130	43,696
Oher Regions [Member]
Disaggregated Revenue Information [Abstract]
Revenue	56	36
Single Wafer Cleaning, Tahoe and Semi-Critical Cleaning Equipment [Member]
Disaggregated Revenue Information [Abstract]
Revenue	26,033	32,413
ECP (Front-end and Packaging), Furnace and Other Technologies [Member]
Disaggregated Revenue Information [Abstract]
Revenue	12,248	5,550
Advanced Packaging (Excluding ECP), Services & Spares [Member]
Disaggregated Revenue Information [Abstract]
Revenue	3,905	5,769
Wet Cleaning and Other Front-end Processing Tools [Member]
Disaggregated Revenue Information [Abstract]
Revenue	31,702	31,900
Advanced Packaging, Other Processing Tools, Services and Spares [Member]
Disaggregated Revenue Information [Abstract]
Revenue	$ 10,484	$ 11,832

ACCOUNTS RECEIVABLE (Details)

ACCOUNTS RECEIVABLE (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Accounts Receivable [Abstract]
Accounts receivable	$ 106,351	$ 105,553
Less: Allowance for doubtful accounts	0	0
Total	$ 106,351	$ 105,553

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Inventory [Abstract]
Raw materials	$ 108,157	$ 90,552
Work in process	56,755	35,840
Finished goods	106,626	91,724
Total inventory	271,538	218,116
Inventory reserve	1,826	1,215
First-Tools [Member]
Inventory [Abstract]
Finished goods	97,887	91,724
Contractual Obligation [Member]
Inventory [Abstract]
Finished goods	$ 79,422	$ 71,889

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT, NET (Details) ¥ in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Jan. 31, 2022USD ($)	Jan. 31, 2022CNY (¥)	Dec. 31, 2021USD ($)
Property, Plant and Equipment [Abstract]
Total cost	$ 57,912				$ 14,336
Less: Total accumulated depreciation	(6,837)				(5,900)
Construction in progress	6,605				5,606
Total property, plant and equipment, net	57,680				14,042
Depreciation expense	1,083	$ 439
Buildings and Plants [Member]
Property, Plant and Equipment [Abstract]
Total cost	$ 41,577				0
Buildings and Plants [Member] | Shengwei Research (Shanghai), Inc. [Member]
Property, Plant and Equipment [Abstract]
Total cost			$ 41,497	¥ 263,979	42,111
Estimated useful lives	30 years
Manufacturing Equipment [Member]
Property, Plant and Equipment [Abstract]
Total cost	$ 8,738				7,973
Office Equipment [Member]
Property, Plant and Equipment [Abstract]
Total cost	2,559				2,012
Transportation Equipment [Member]
Property, Plant and Equipment [Abstract]
Total cost	217				217
Leasehold Improvement [Member]
Property, Plant and Equipment [Abstract]
Total cost	$ 4,821				$ 4,134

LAND USE RIGHT, NET (Details)

LAND USE RIGHT, NET (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)	Jul. 31, 2020ft²
Land use Right [Abstract]
Land use right purchase amount	$ 10,011		$ 9,966
Less: accumulated amortization	(350)		(299)
Land use right, net	9,661		9,667
Amortization	$ 50	$ 49
Annual Amortization of Land use Right [Abstract]
2022			200
2023			200
2024			200
2025			200
2026			$ 200
Shengwei Research (Shanghai), Inc. [Member]
Land use Right [Abstract]
Right to use land lease term	50 years
Area for development and production center | ft²				1,000,000

OTHER LONG-TERM ASSETS (Details

OTHER LONG-TERM ASSETS (Details) ¥ in Thousands, $ in Thousands	Mar. 31, 2022USD ($)	Jan. 31, 2022USD ($)	Jan. 31, 2022CNY (¥)	Dec. 31, 2021USD ($)
Other Long-term Assets [Abstract]
Prepayment for property - Lingang	$ 0			$ 42,111
Prepayment for property, plant and equipment and other non-current assets	1,159			440
Prepayment for property - lease deposit	718			429
Security deposit for land use right	776			773
Others	906			1,264
Total other long-term assets	3,559			45,017
Property cost	57,912			14,336
Capitalized interest charges related to property	1,048			986
Buildings and Plants [Member]
Other Long-term Assets [Abstract]
Property cost	$ 41,577			0
Buildings and Plants [Member] | Shengwei Research (Shanghai), Inc. [Member]
Other Long-term Assets [Abstract]
Property cost		$ 41,497	¥ 263,979	$ 42,111

SHORT-TERM BORROWINGS (Details)

SHORT-TERM BORROWINGS (Details) ¥ in Thousands, $ in Thousands		3 Months Ended
		Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Mar. 31, 2022CNY (¥)	Dec. 31, 2021USD ($)
Short-Term Borrowings [Abstract]
Short-term borrowings		$ 9,600			$ 9,591
Interest expense related to short-term borrowings		63	$ 189
Line of Credit Due on June 7, 2022 [Member]
Short-Term Borrowings [Abstract]
Short-term borrowings	[1]	$ 4,617			4,616
Maximum borrowing capacity | ¥				¥ 100,000
Annual interest rate		2.70%
Line of Credit Due on October 21, 2022 [Member]
Short-Term Borrowings [Abstract]
Short-term borrowings		$ 3,408			3,407
Maximum borrowing capacity | ¥				150,000
Annual interest rate		1.95%
Line of Credit Due on October 22, 2022 [Member]
Short-Term Borrowings [Abstract]
Short-term borrowings		$ 1,575			$ 1,568
Maximum borrowing capacity | ¥				¥ 60,000
Annual interest rate		3.85%
[1]	Guaranteed by CleanChip

OTHER PAYABLE AND ACCRUED EXP_3

OTHER PAYABLE AND ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
OTHER PAYABLE AND ACCRUED EXPENSES [Abstract]
Accrued commissions	$ 11,648	$ 12,507
Accrued warranty	6,914	6,631
Accrued payroll	8,317	5,684
Accrued professional fees	601	785
Accrued machine testing fees	1,094	149
Others	7,981	5,979
Total	$ 36,555	$ 31,735

LEASES (Details)

LEASES (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Components of lease expense [Abstract]
Operating lease cost	$ 647	$ 515
Short-term lease cost	175	79
Lease cost	822	594
Cash paid for amounts included in the measurement of lease liabilities [Abstract]
Operating cash outflow from operating leases	822	$ 594
Maturities of outstanding lease liabilities [Abstract]
2022	1,858
2023	1,265
2024	1,018
2025	56
2026	37
2027	4
Total lease payments	4,238
Less: Interest	(210)
Present value of lease liabilities	$ 4,028
Weighted average remaining lease terms and discount rates [Abstract]
Weighted average remaining lease term	1 year 8 months 4 days		1 year 4 months 13 days
Weighted average discount rate	4.37%		4.54%

LONG-TERM BORROWINGS (Details)

LONG-TERM BORROWINGS (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)Intallment	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Long-Term Borrowings [Abstract]
Long-term debt	$ 24,785
Less: Current portion	(2,441)		$ (2,410)
Long-term Borrowings	22,344		22,957
Principal Payments of Long-Term Loan [Abstract]
2022	1,724
2023	2,502
2024	7,470
2025	1,968
2026 and onwards	11,121
Long-term debt	24,785
Interest expense related to long-term borrowings incurred	258	$ 317
Interest expense charged to long-term borrowings	198	0
Capitalized interest charged as other long-term assets	60	$ 317
China Merchants Bank [Member]
Long-Term Borrowings [Abstract]
Long-term debt	$ 18,051		18,390
Number of installments for loan repayable | Intallment	120
Last installment due date	Nov. 30, 2030
Annual interest rate	4.65%
Principal Payments of Long-Term Loan [Abstract]
Long-term debt	$ 18,051		18,390
Bank of China [Member]
Long-Term Borrowings [Abstract]
Long-term debt	6,734		6,977
Principal Payments of Long-Term Loan [Abstract]
Long-term debt	$ 6,734		$ 6,977

OTHER LONG-TERM LIABILITIES (De

OTHER LONG-TERM LIABILITIES (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Other Long-term Liabilities [Abstract]
Other long-term liabilities	$ 8,545	$ 8,447
Subsidies to Stress Free Polishing Project, Commenced in 2008 and 2017 [Member]
Other Long-term Liabilities [Abstract]
Other long-term liabilities	737	791
Subsidies to Electro Copper Plating Project, Commenced in 2014 [Member]
Other Long-term Liabilities [Abstract]
Other long-term liabilities	153	160
Subsidies to Other Cleaning Tools, Commenced in 2020 [Member]
Other Long-term Liabilities [Abstract]
Other long-term liabilities	979	1,014
Subsidies to SW Lingang R&D development in 2021 [Member]
Other Long-term Liabilities [Abstract]
Other long-term liabilities	5,985	5,958
Other [Member]
Other Long-term Liabilities [Abstract]
Other long-term liabilities	$ 691	$ 524

LONG-TERM INVESTMENT (Details)

LONG-TERM INVESTMENT (Details) $ / shares in Units, ¥ in Thousands, $ in Thousands	Sep. 05, 2019shares	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)	Oct. 29, 2021USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2019CNY (¥)	Jun. 27, 2019USD ($)	Sep. 11, 2017USD ($)$ / sharesshares
Classification of Investments [Abstract]
Total		$ 12,666		$ 12,694
Equity income (loss) in net income (loss) of affiliates		(71)	$ 320
Ninebell [Member]
Investments [Abstract]
Purchase price									$ 1,200
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]
Investment - equity method					$ 1,568			$ 109
Number of investors with agreements entered | shares	6
Hefei Shixi [Member]
Investments [Abstract]
Investment in partnership						$ 4,200	¥ 30,000
Ownership percentage in partnership						10.00%	10.00%
Equity Investment [Member] | Ninebell [Member]
Investments [Abstract]
Percentage of ordinary shares issued									20.00%
Equity Investment [Member] | Shengyi [Member]
Investments [Abstract]
Percentage of ordinary shares issued					0.25%			15.00%
Investment Excluding Other Investee [Member]
Classification of Investments [Abstract]
Total		11,091		11,126
Investment Excluding Other Investee [Member] | Ninebell [Member]
Classification of Investments [Abstract]
Total		2,945		3,051
Investment Excluding Other Investee [Member] | Shengyi [Member]
Classification of Investments [Abstract]
Total		269		211
Investment Excluding Other Investee [Member] | Hefei Shixi [Member]
Classification of Investments [Abstract]
Total		7,877		7,864
Other Investee [Member] | Waferworks [Member]
Classification of Investments [Abstract]
Total		$ 1,575		$ 1,568

TRADING SECURITIES (Details)

TRADING SECURITIES (Details) $ in Thousands, ¥ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)	Jun. 18, 2020CNY (¥)	Jun. 18, 2020USD ($)
Trading securities listed in Shanghai Stock Exchange [Abstract]
Cost	$ 15,431		$ 15,363
Market value	25,772		$ 29,498
Unrealized loss on trading securities	$ (3,858)	$ (1,047)
Qingdao LP [Member]
Investments [Abstract]
Total capital fund of limited partnership				¥ 2,224	$ 315,000
Investment in partnership				¥ 100	$ 14,200
Ownership percentage in partnership				4.30%	4.30%
SMIC [Member] | Minimum [Member]
Investments [Abstract]
Ownership percentage in partnership	30.00%

RELATED PARTY BALANCES AND TR_3

RELATED PARTY BALANCES AND TRANSACTIONS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Related Party Transaction [Abstract]
Accounts payable	$ 6,977		$ 7,899
Purchase of materials	7,964	$ 7,240
Service fee charged by	34	142
Ninebell Co., Ltd [Member]
Related Party Transaction [Abstract]
Prepaid expenses	4,501		2,383
Accounts payable	4,982		5,703
Purchase of materials	7,379	6,882
Shengyi Semiconductor Technology Co., Ltd [Member]
Related Party Transaction [Abstract]
Accounts payable	1,995		$ 2,196
Purchase of materials	585	358
Service fee charged by	$ 34	$ 142

COMMON STOCK (Details)

COMMON STOCK (Details)		3 Months Ended		12 Months Ended
		Mar. 31, 2022Vote$ / sharesshares	Mar. 31, 2021shares	Dec. 31, 2021$ / sharesshares	Mar. 16, 2022shares
Class of Stock [Abstract]
Reverse stock split		3	3
Common Class A [Member]
Class of Stock [Abstract]
Reverse stock split		3	3	3
Common stock, shares authorized (in shares)		150,000,000		150,000,000
Additional shares reserved for issuance as dividends (in shares)		2			2
Common stock, par value (in dollars per share) | $ / shares		$ 0.0001		$ 0.0001
Number of votes for each share entitled | Vote		1
Common stock, shares issued (in shares)		54,035,280		53,608,929
Common stock, shares outstanding (in shares)		54,035,280		53,608,929
Common Class B [Member]
Class of Stock [Abstract]
Reverse stock split		3	3	3
Common stock, shares authorized (in shares)		5,307,816		5,307,816
Additional shares reserved for issuance as dividends (in shares)		2			2
Common stock, par value (in dollars per share) | $ / shares		$ 0.0001		$ 0.0001
Number of votes for each share entitled | Vote		20
Convertible shares in to Class A common stock (in shares)		1
Common stock, shares issued (in shares)		5,086,812		5,087,814
Common stock, shares outstanding (in shares)		5,086,812		5,087,814
Common Stock [Member] | Common Class A [Member]
Class of Stock [Abstract]
Stock issued upon exercise of stock options (in shares)	[1]	425,349	929,820
Conversion of class B common stock to Class A common stock (in shares)	[1]	1,002	100,002
Common Stock [Member] | Common Class B [Member]
Class of Stock [Abstract]
Stock issued upon exercise of stock options (in shares)	[1]	0	0
Conversion of class B common stock to Class A common stock (in shares)	[1]	(1,002)	(100,002)
[1]	Prior period results have been adjusted to reflect the three-for-one stock split effected in the form of a stock dividend in March 2022. See Note 1 for details

STOCK-BASED COMPENSATION, Stock

STOCK-BASED COMPENSATION, Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stock-based Compensation Expense [Abstract]
Stock-based compensation expense	$ 1,374	$ 1,210
Employee Stock Purchase Plan [Member]
Stock-based Compensation Expense [Abstract]
Stock-based compensation expense	1,273	1,085
Employee Stock Purchase Plan [Member] | ACM Shanghai [Member]
Stock-based Compensation Expense [Abstract]
Stock-based compensation expense	90	85
Non-Employee Stock Purchase Plan [Member]
Stock-based Compensation Expense [Abstract]
Stock-based compensation expense	11	40
Cost of Revenue [Member]
Stock-based Compensation Expense [Abstract]
Stock-based compensation expense	113	71
Sales and Marketing Expense [Member]
Stock-based Compensation Expense [Abstract]
Stock-based compensation expense	354	505
Research and Development Expense [Member]
Stock-based Compensation Expense [Abstract]
Stock-based compensation expense	411	229
General and Administrative Expense [Member]
Stock-based Compensation Expense [Abstract]
Stock-based compensation expense	$ 496	$ 405

STOCK-BASED COMPENSATION, Share

STOCK-BASED COMPENSATION, Share Option Activities (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		12 Months Ended
		Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Weighed Average Remaining Contractual Term [Abstract]
Stock-based compensation expense		$ 1,374	$ 1,210
Employee Share Option [Member]
Number of Option Share [Roll Forward]
Outstanding, beginning of period (in shares)	[1]	8,402,247
Granted (in shares)	[1]	853,500
Exercised (in shares)	[1]	(273,264)
Forfeited/cancelled (in shares)	[1]	0
Outstanding, end of period (in shares)	[1]	8,982,483		8,402,247
Vested and exercisable (in shares)	[1]	5,772,480
Weighted Average Grant Date Fair Value [Abstract]
Outstanding at beginning of period (in dollars per share)		$ 2.45
Granted (in dollars per share)		11.49
Exercised (in dollars per share)		0.97
Forfeited/cancelled (in dollars per share)		0
Outstanding at end of period (in dollars per share)		3.36		$ 2.45
Weighted Average Exercise Price [Abstract]
Outstanding, beginning of period (in dollars per share)		5.88
Granted (in dollars per share)		25.45
Exercised (in dollars per share)		2.45
Forfeited/cancelled (in dollars per share)		0
Outstanding, end of period (in dollars per share)		$ 7.85		$ 5.88
Weighed Average Remaining Contractual Term [Abstract]
Outstanding weighed average remaining contractual term		6 years 7 months 20 days		6 years 6 months 10 days
Stock-based compensation expense		$ 1,273	1,085
Unrecognized employee stock-based compensation expense		$ 17,097		$ 9,544
Weighted-average period over which unrecognized compensation is expected to be recognized		1 year 7 months 13 days		1 year 7 months 9 days
Employee Share Option [Member] | ACM Shanghai [Member]
Number of Option Share [Roll Forward]
Outstanding, beginning of period (in shares)		5,377,500
Granted (in shares)		0
Exercised (in shares)		0
Expired (in shares)		0
Forfeited/cancelled (in shares)		0
Outstanding, end of period (in shares)		5,377,500		5,377,500
Vested and exercisable (in shares)		0
Weighted Average Grant Date Fair Value [Abstract]
Outstanding at beginning of period (in dollars per share)		$ 0.24
Granted (in dollars per share)		0
Exercised (in dollars per share)		0
Expired (in dollars per share)		0
Forfeited/cancelled (in dollars per share)		0
Outstanding at end of period (in dollars per share)		0.24		$ 0.24
Weighted Average Exercise Price [Abstract]
Outstanding, beginning of period (in dollars per share)		2.04
Granted (in dollars per share)		0
Exercised (in dollars per share)		0
Expired (in dollars per share)		0
Forfeited/cancelled (in dollars per share)		0
Outstanding, end of period (in dollars per share)		$ 2.04		$ 2.04
Weighed Average Remaining Contractual Term [Abstract]
Outstanding weighed average remaining contractual term		2 years 3 months 3 days		2 years 6 months
Stock-based compensation expense		$ 90	85
Non-Employee Stock Option [Member]
Number of Option Share [Roll Forward]
Outstanding, beginning of period (in shares)	[1]	2,067,018
Granted (in shares)	[1]	0
Exercised (in shares)	[1]	(152,085)
Expired (in shares)	[1]	0
Forfeited/cancelled (in shares)	[1]	(1,413)
Outstanding, end of period (in shares)	[1]	1,913,520		2,067,018
Vested and exercisable (in shares)	[1]	1,883,520
Weighted Average Grant Date Fair Value [Abstract]
Outstanding at beginning of period (in dollars per share)		$ 0.33
Granted (in dollars per share)		0
Exercised (in dollars per share)		0.23
Expired (in dollars per share)		0
Forfeited/cancelled (in dollars per share)		0.16
Outstanding at end of period (in dollars per share)		0.34		$ 0.33
Weighted Average Exercise Price [Abstract]
Outstanding, beginning of period (in dollars per share)		0.97
Granted (in dollars per share)		0
Exercised (in dollars per share)		0.61
Expired (in dollars per share)		0
Forfeited/cancelled (in dollars per share)		0.37
Outstanding, end of period (in dollars per share)		$ 1		$ 0.97
Weighed Average Remaining Contractual Term [Abstract]
Outstanding weighed average remaining contractual term		3 years 10 months 13 days		3 years 11 months 23 days
Stock-based compensation expense		$ 11	$ 40
Unrecognized employee stock-based compensation expense		$ 90		$ 102
Weighted-average period over which unrecognized compensation is expected to be recognized		21 days		21 days
Non-Employee Stock Option [Member] | ACM Shanghai [Member]
Weighed Average Remaining Contractual Term [Abstract]
Unrecognized employee stock-based compensation expense		$ 438		$ 525
Weighted-average period over which unrecognized compensation is expected to be recognized		1 year 3 months 3 days		1 year 6 months
[1]	Prior period results have been adjusted to reflect the Stock Split effected in March 2022. See Note 1 for details.

STOCK-BASED COMPENSATION, Assum

STOCK-BASED COMPENSATION, Assumptions Used to Determine Fair Value of Share Options Granted (Details) - Employee Share Option [Member] - Service Period Based [Member] - $ / shares		3 Months Ended	12 Months Ended
		Mar. 31, 2022	Dec. 31, 2021
Fair Value of Options Granted [Abstract]
Fair value of common share (in dollars per share)	[1],[2]	$ 25.45
Expected term in years	[2],[3]		6 years 3 months
Volatility	[2],[4]	49.43%
Risk-free interest rate	[2],[5]	1.70%
Expected dividend	[2],[6]	0.00%	0.00%
Minimum [Member]
Fair Value of Options Granted [Abstract]
Fair value of common share (in dollars per share)	[1],[2]		$ 27.58
Expected term in years	[2],[3]	5 years 6 months
Volatility	[2],[4]		48.53%
Risk-free interest rate	[2],[5]		1.00%
Maximum [Member]
Fair Value of Options Granted [Abstract]
Fair value of common share (in dollars per share)	[1],[2]		$ 37.33
Expected term in years	[2],[3]	6 years 3 months
Volatility	[2],[4]		49.47%
Risk-free interest rate	[2],[5]		1.44%
[1]	Equal to closing value on the grant date.
[2]	Prior period results have been adjusted to reflect the Stock Split effected in March 2022. See Note 1 for details.
[3]	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.
[4]	Volatility is calculated based on the historical volatility of ACM’s comparable companies in the period equal to the expected term of each grant.
[5]	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.
[6]	Expected dividend is assumed to be 0% as ACM has no history or expectation of paying a dividend on its common stock.

INCOME TAXES (Details)

INCOME TAXES (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)Subsidiary	Mar. 31, 2021USD ($)
Income Taxes [Abstract]
Statutory U.S federal income tax rate	21.00%
Capitalized research and development expenses, amortization period	15 years
Unrecognized tax benefits	$ 6,066
Unrecognized tax benefits that would impact effective tax rate	5,950
Interest or penalties	71
Income Tax Benefit (Expense) [Abstract]
Total income tax benefit	$ 4,011	$ 2,770
ACM Research (Shanghai), Inc. [Member]
Income Taxes [Abstract]
Foreign corporate tax rate	12.50%
PRC [Member]
Income Taxes [Abstract]
Number of subsidiaries | Subsidiary	3
Foreign corporate tax rate	25.00%
Effective period of preferential income tax rate	3 years
PRC [Member] | Minimum [Member]
Income Taxes [Abstract]
Foreign corporate tax rate	12.50%
PRC [Member] | Maximum [Member]
Income Taxes [Abstract]
Foreign corporate tax rate	25.00%
PRC [Member] | ACM Research (Shanghai), Inc. [Member]
Income Taxes [Abstract]
Foreign corporate tax rate	12.50%
PRC [Member] | ACM Research (Wuxi), Inc. [Member]
Income Taxes [Abstract]
Foreign corporate tax rate	25.00%
PRC [Member] | Shengwei Research (Shanghai), Inc. [Member]
Income Taxes [Abstract]
Foreign corporate tax rate	25.00%

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands, ¥ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)LegalProceeding	Mar. 31, 2022CNY (¥)	Dec. 31, 2021USD ($)
COMMITMENTS AND CONTINGENCIES [Abstract]
Commitments	$ 3,738
Required liquidate damage value	$ 63,400	¥ 450
Land use rights period	6 years	6 years
Annual total taxes	$ 22,000	¥ 157.6
Investments	$ 14,894		$ 13,265
Number of outstanding legal proceedings | LegalProceeding	0