Earnings call transcript Q4 2022

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Operator

Good day, ladies and gentlemen. Thank you for standing by, and welcome to the ACM Research Fourth Quarter 2022 Earnings Conference Call. Currently, all participants are in a listen only mode. Later, we will conduct a question-and-answer session, and instructions will follow at that time.

As a reminder, we are recording today's call.

objections, disconnect any this have you you at may time. If

Group. the now Managing to Blueshirt like would conference Director go to the Dvorchak, I Gary hand over ahead. today, your of Please speaker

Gary Dvorchak

operator, today. on call We The us released release you, for XXXX the before fourth today's and investor Thank is to everyone. Thank deck portion you morning, U.S. prepared joining results Newswire quarter discuss results. our our good services. as market There's posted website to supplemental a remarks. on we the available that from slide of our website will as also during opened well reference

the On Shanghai. and me McKechnie, Lisa CEO, our Feng, the Dr. our are ACM David call CFO our subsidiary, Mark with Wang; CFO, of today operating

Slide please we turn Before to X. continue,

remind for remarks include be considered this call you or information represent me statements the judgment forward-looking during that ACM's that may other made current future. forward-looking. might estimates predictions, Let These

is actual the not that which subject are reflect Factors in as they However, the forward-looking described ACM's under place Commission. filings risks Securities and cause to these differ Risk elsewhere Please this with you date and any uncertainties to obliged statements, materially. Those of Exchange are these undue call. only opinions do forward-looking statements. update ACM's reliance ACM on not and to could results on risks revisions to

call and a will training Certain of an in on the loss stock-based that financial gain securities. be results this basis, on unrealized which provide non-GAAP we excludes compensation

section our posted to GAAP Slide GAAP and amounts, results should non-GAAP on of earnings refer refer website which our reconciliations to release, between is XX. our and For and the IR you

me over with Wang, turn now will David? to With begin David call let that, Slide X. who the

David Wang

fourth fiscal $XXX a last to quarter XX% the million, Gary. $XXX.X and year-over-year. Hello, XXXX to Shipments revenue call. conference were with record results, year. and compared $XX.X quarter year million fourth earnings Starting ACM Research was everyone, welcome Thanks, million up

margin margin non-GAAP XX.X% was was and XX.X%. Gross operating

several a facility. customers as anticipated, (ph), nodes at export production restriction reduced As their result advanced of U.S.

We to due revenue, our supplier our also with results. supply the quarter impact Despite we experienced some chain are our delay constraints. pleased from fourth to

of year, a our to were mission XXXX major and global marked restrictions, supplier the the our multi-product year-over-year growth COVID-XX in another regulations. We semiconductor demonstrate delivered year supply portfolio -- full during disruption progress related to on results This part For chain become top line by increased trade the XX% driven strategy. industry.

Turn to X. Slide

deepening grew product our our cleaning our segment. to -- cleaning Canadian core wafer by range driven $XXX.X by XXXX, tools. (ph) We in ordered are position our continued penetration one on of single semi-critical and In product focused by tools XX% million,

development among nodes in expect key to and the a forward. play range role mature We China going ordered

portfolio in important We DRAM, cleaning now viable international there. temperature new and high-temperature and cleaning including tool the for tool, is our installed cleaning tool the tools, a has the of product high efforts. covering broadest edge IP XX% of COX dry several tool, super-critical for one all cleaning ACM SDM important nearly which industry, single-wafer dry projects

our driven tools The with represent from end MAP both back-end. ECP and revenue penetration ECP XX% million top and of for other technologies, furnace than contribution for doubled (ph) This to the mix. ECP cleaning year-over-year revenue front our customer and the ap more and was our a ECP $XX.X increased for by at significant

higher furnace our cycle products, expect and a furnace, [indiscernible] We from in XXXX our including Anneal LPCVD customers. product expanded to temperature strong multiple

not (ph). in ultra year-over-year. in We atomic for first including slightly thermal and second customer September other Advanced to and grew FLA, tool furnace SAP, introduction our tool the expanded layer service customer one furnace and package, ALD platform process another with ARV, We the our delivered spell of separation, November tool XXXX.

includes segment developer, etcher, tool. offers important and a advanced such believe shaver XD packaging packaging scrubber, parts. both particularly PR wet and also and tools out coater, set advanced wet in proposal including will We service as company China. the plating looks industrial the of more (ph) higher the a fan and packaging of ACM performance, full the in range This that become is and tools, X.XD only as a and drive for innovations to spare

Coater/Developer This major platform new reinforce billion. and these position two estimate Pmax Track SAM two category Ultra to ACM's company. market In tool. categories, as or product QX, We double served major PECVD addressable tools new we multiproduct added $XX tools Ultra-Lith our a

Ultra-Lith development tool system, a our and in core in decade over expertise built Coater/Developer coating and is with evolution tools natural which robotics developer performance. our our cleaning, competence with past Track coater Our improving have software the combined stand-alone we of

We are track well positioned to competing $X.X in market. a billion

track We supply source. believe many second global a are manufacturer memory logic seeking

to cost the this first enhance Track performance i-line XXXX fourth XXX the ownership ARF The We Track even required generation a multiple which customer Lith wafers across process architecture has model proprietary quarter in for Ultra-Lith Chinese Ultra-Lith later and designed Coater/Developer that tool defectivity, next a manufacturer or enables is memory more domestic delivered feature of deliver throughput the tool customers. year. design specifically plan and Our power, of for to to tools,

have a also of KrF model. begun development We

our PECVD for particle We film targeted improved Pmax and provides better marks area semiconductor reduce and product ACM's believe We Ultra [indiscernible] this front-end enter manufacturing. into for logic a performance. stress tool proprietary process manufacturing. design global Our memory new

nodes we opportunity above China. aligned with this larger manufacturing believe is attraction good mature for We in consumption. China's adding a view on nodes capacity capacity, focus as adding We expansion major expect and match domestic which customers, a to XX-nano

our to manufacturers deliver to expect We first tool IC soon. PECVD

Pmax process tool cleaning fabrication. to memory PECVD We also our used be expect Ultra for in

by nearly two manufacturers. ACM all used those are to in of another semiconductor provided lack XXXX growth the same look category These Chinese-based of beyond. product tools We and new to

better working our Our sales of our are customers to gain each of with each across product lines. and service teams major traction constantly

Our for and cycle tools impressed in our growth ECP. results XXXX core a demonstrated product cleaning good

XXXX product a for and long-term similar and in from furnace Track cycle a contribution expect We PECVD. a

I provide will X. customers. Turn XXXX our in to detail now Slide

from had SK second customers. was XX% we XX% of sales. at sensor, remain XXMT CMOS SMIC XX%, power and at contribute The and had than devices. including largest and composite the a XX% tier were Hynix image top semiconductor manufacturer, stronger three (ph) We Group our and also less at X%, analog but Huahong XXXX, second and semiconductor XX%. our customer For third YM third respectively. other contribution was

total this sales. year represents was our about individually full none customer, XX% Although of customer of group them XX% a

For cycle. gain XXXX, core and customer cleaning in growth tool with furnace product from we China-based expect SAP the our a and share our

initial to European We sales markets. also the and U.S. anticipate

to two optimistic at and tools lead it well, have will them going we facility orders We in U.S. of the a cleaning is XXXX. are evaluation from U.S.-based large An additional manufacturer.

top-tier The for team to an in we is Today, order this delivery early announced support and planned to year, we QX for European our service hire tool it. customer. beginning evaluation to tool a first are

customers open for of to our for this our potential in We major door the products this orders product, orders the lead region. could are other other and repeat optimistic

nearly in of Construction production Please Slide in for I to complete our remains new second investment brand half turn this want initial Lingang track X. an Next, and detail the of center production facility. year. to on is R&D

up of Lingang and room factory. factory X R&D same product Our building a two the be including production including buildings, grade verification. and the million and on accessory Campus factory accessory our process were cleaning IC square will feet lab R&D one customer speed as two to with The line equipped

Upon is expected X.X completion, the have campus production an over annual Lingang capacity [indiscernible]. billion to revenue

for year. center the of ACM This important addition moving speed Shanghai Zhangjiang us attract of the with allow headquarter China. $XX to up will area, Shanghai, for We building and is new later in provide paid million world-class ACM the the for are We in us this in Valley the invest employees, help of moving quarter omni our forward that new fourth for to their about full-owned purchase talent development Silicon or stability tools. an

Support our pool already additional engineers access This a facility R&D capacity of have team. about greater Shanghai of and co-developed local have will we the will furnace, believe greater who our will R&D of track continuity with our international of source be This R&D of our expansion XX several will achieve production in in business traction. We will team investment approximately to manufacturers, a and a provide product second increase which PECVD talent. help serve as Korea. for semiconductor major

$XX CapEx. $XXX expect to XXXX, million spend For we to about million

ACM Our and facility, Shanghai add main capacity including project, investment. headquarter Korea in new following this important Lingang

the for project Our next several major complete years. spending will be

We X. to committed market. present revenue the remain remain China on billion Slide our semiconductor domestic $X bullish to target We

or to and production power we for is XX increased capacity devices, node as and has mature above devices market come. growth even our site, vehicles to including and years speed electrical up majority will add China much mature the IoT, semiconductors The for than expect continue in consumer our Domestic local of We demand for lower of customers' been electronics. follow anticipate logic demand customers nano China and as good production capacity in consumption. made to nodes

believe the billion alone. target China We Mainland we in our from $X future near achieve can revenue

each furnace in on model in XX% cleaning, based Our XX% is for and XX% in share Track market ECP, PECVD. XX% and

we markets, making good European international with teams. our You and customers see potential progress supporting Korea, and are expanding U.S. sales upside global from the and

provide are Korea to customers. several and players production and supporting accelerating a our major close be R&D semiconductor site second We to worldwide also in facility

the the to provide The our $XXX $XXX to XXXX acceptance expect to first field, other be year the reaffirmed for from together reflects, million of chain of supply among factors. range evaluation outlook on in full now of our X. other the current will trade and tool various turn with policy XXXX. things, key constraints our revenue scenario spending of We range I outlook in timing million. U.S.-China outlook and impact Please the customers, potential among Slide for

of the we the remain our mission global customers. proud committed become and excited manufacturers supplier in semiconductor We are for to line in had innovative a and to to that have progress to made the to our XXXX. XXXX major solutions we conclusion, deliver In opportunity

please. the will our who turn details our fourth to Now CFO, over Mark, let call Mark, review me quarter results. of

Mark McKechnie

I Reconciliation included Unless non-GAAP non-GAAP turn to these earnings GAAP Thank XX. stock-based note of measures trading Please measures, measures Slide otherwise, you, to release. David. is day, financial to refer will loss our compensation, I comparable unrealized which in Good of excludes everyone. securities.

(ph) I'll single now $XXX cleaning ago Revenue year. million. versus for fourth tools $XX.X cleaning other million Revenue packaging, $XX.X $XX.X provide services wafer and financial period. highlights the last million million and was in Total versus million. quarter. technologies $XX.X flat excluding for furnace was $XXX shipments for year. year semi-critical shipped ECP, was advanced ECP million million spares approximately the were $XX.X was $XXX.X million for versus million $XX.X and last versus Revenue versus Revenue

in primarily margin due product the margin our renminbi due positive range to XX.X%, U.S. up of year. and Gross period versus prior change year the was to This from normal dollar to XX%. prior currency in was expected XX.X% The gross a the impact the increased XX% to mix exceeded rate.

to to from We and such a variety sales impacts. mix continue currency due vary expect as to factors of volume, gross product period-to-period margin

was primarily million marketing expense million. this net versus million, for costs. rate of tools $XX.X was primarily representing promotional changes was Operating to expense and incurred income We was $XX.X due to to higher due our $X.X costs personnel were receivables the expenses and payables margin due XX.X% increased Sales $XX.X Other on personnel. million, operating higher period. the exchange impact $XX.X and the R&D Operating versus million.

expenses compared experimental and IRS has previously all for be effective tax $X.X million tax ago The the year under to was the for overturned on in year rule capitalize of tax R&D purposes Income increased for and $X.X assumes XXX provision the will Code January company's that and primarily X, research to deductible to based was purposes. tax the effective expenses not capitalization XXXX. tax rate is XXXX period. due million full The expense the requirement amortize

per income million $XX.X the income of diluted per to Net of share in versus ago year diluted income XXXX. Research income $XX.X net net attributable $X.XX ACM share $X.XX million was was compared period. QX in Net to

Total third and restricted materials finished million, end, work $XXX.X at quarter. inventory raw now million. at end of end were time end the of items. will Cash selected cash the of last million year and $XX.X quarter. sheet of deposits versus equivalents, million million was $XXX.X $XXX.X of the at at quarter million fourth goods cash review This in $XXX.X I the the of process $XXX.X from up $XXX.X inventory includes million, balance

million, from million the and quarter. the full for in factory year operations in was our and million was $X.X headquarters expenditures new included spending $XX.X Lingang $XX.X on year. flow full for other fourth a was operations cash Net Capital $XX for for used payment million the building QX which cash flow items. Net for was expenditures Capital $XX.X Zhangjiang our million.

our prepared concludes That remarks.

us that please you any questions Let the go for have. ahead. open call Operator, may

Operator

Instructions] We with Benchmark [Operator a from have you. question Mark Miller Company. Thank

Your line is open.

Mark Miller

on was Just strong in -- decline down the in restrictions I what distribution was regional another decline outlook. that much sequential that question sequentially. the China sales. Congrats How It and a in had sales. year of to XX% XX% China? looks produced about like of wondering China due

David Wang

of a that advanced number. much I contribution, give reducing to hard investment right really how obviously, And the percentage now. it's in number think I Mark, don't And there's you notes. Yeah. precise have

should in see we furnace. there we this new are right? demand nodes, plus that's course, ECP also our deployment, product grow, and the strong the the year, think continue say our I to of way especially there material So still also, However, revenue

Mark Miller

Taiwan? regions, other increase that -- from? you where the uptick or Can nice quarter over coming revenues prior Or wondering of terms is region other from the that is a year-over-year. and just coming I'm In in showed U.S.

David Wang

there we're real but Actually, revenue outside of And revenue. breakthrough in this Korea not some we -- year Mainland, year, actually expected revenue probably time some some right, and Taiwan, do China, and we're revenue from probably expecting have will this from not customer but they're from also from U.S. in come expecting expecting

Mark Miller

you. Thank

Gary Dvorchak

Mark. Thanks, Yeah.

Operator

[Operator Company. Instructions] with Our next Needham Bolton question comes from Quinn &

is Your line open.

Quinn Bolton

in Congratulations questions. or and a David I this sense guidance? results of tough you Sorry you contribution on from out environment outlook Mark, have meaningful about for guys. the that. strong us strong the effectively and zeroed the to I few advanced very nodes XXXX 'XX China give 'XX in year. some was that the at $X.XX. logic Hey, Do guidance nodes just any expect on in WFE mute. One $X.XX you memory advanced the or can guess

David Wang

Yeah.

shot. purchase reduced, some I going to give quite still still think but me Let first a compared we probably on, last see right, And year. obviously,

see projection. customers, speed up the And not right, for that's devices. call our our also, however, even we that -- are projection counting and and so and much year's, And in in there for it, customer for -- new mature China some also do this power some and nodes for their

major And gain this we that's too. growth and see more from and products I the as continue market So from those think other with share. ECP customers, we'll the out share, year, gain by right? to plus, there And furnace spread our market mentioned, revenue rapidly also we

Next outside one So some factor, right? that's sales the is from probate contribution including China. also international Mainland,

Quinn Bolton

don't in a guide go-forward basis. shipments, a you know March. fourth going on the Was I sort perhaps anything there I quarter wanted business And just of shipments impressive to about you to special or ask at there can September December? But out the pulled on of just was any very either in number million. quarter. in pulled the from $XXX also on talk

talked You impact the a quarter. at million to $XXX supply about supply of prepared script constraints. see some you're of in constraints nearly shipments Hard when the

your qualitatively for what's for guidance I outlook some you since don't know give on So trying to number. get just sense shipments, perhaps that

David Wang

future? last I about the mean You quarter. talked

Quinn Bolton

just trend strong about expect to over be few to unusual the yes, fourth strength anything you number? quarter, David make the comments that led any was quarters? in And there next such shipments maybe how shipments talk about willing you a might in to Well, then the just

David Wang

actually, constraint, no this, it also that's see. quarters, too. plus last that four Well, obviously I limit more impact right? ship chain If by we have maybe shipments I supply restriction also trade concern, And shipment call there.

I'm that continued shipment, the right? next our So the I but to next fourth can right, continue not that see see think quarter year, should anyway, this quarter, we'll that And quarters, we higher increase year. saying than quarter, say still I the few

Quinn Bolton

factory for was good to the range pretty level? obviously, driver that margin much then And near your XX%. How strength that I level. led well that that utilization the Mark, fourth Thanks. big assume at to to a mix that due shipment you're Was of near December it that kind margin? above margin XX% target a of function in XX% tools or you quarter shipment is gross shipped higher of more of XX%, just you, in the gross to really of getting

Mark McKechnie

helps not of we be remarks, Quinn. rates, really a from mix Quinn. prepared it's bit, the portion. about products. absorption some it's mix. but going had said the currency about And It's Yeah, It's I benefit the The the as about to mix, big mainly in predominantly a also but

Quinn Bolton

Can I mix is with a stay growth the 'XX. lot to ECP your is your pretty sounds mix in you of quantify mean, going healthy the Mark? like 'XX. furnace FX impact It driving and my guess in

Mark McKechnie

target to our is industry It's it's XX% -- changing a and in general, XX% customers. we're XX% target, to margin But -- not with to well our in term. work right We're Quinn. longer we the competitive certainly XX% gross want

Quinn Bolton

Understood. Thank Thank David. Mark. you, you,

David Wang

you. Thank

Operator

have you. Schwab with Thank Christian a from Craig-Hallum. we question And

Your open. line is

Christian Schwab

tremendous spent strength strong on and David, Congratulations out Chinese about their you're domestic ICAP talking not Applied in call the execution guys. Hey, guidance. of and alone half business, seeing Materials market, the it.

at six you not But XX-nanometer three think probably that within that you capacity commentary of that in IoT Is take demand, China five, not power does do China, market. years would saying about a is your adventure? you many does How it like for meet node, sensor long would that year the mature strong I to when capital in -- is look adding think So think, How smaller it. spending worded take? occur? it a you do way to four, the equipment domestic

David Wang

still will years, electric really just chips. or plan, or the trend -- at at customer mean, of time probably see say we but going on look I vehicle, the I other three a consumer there situation, the electronics, continue another I I again, consumption And in expansion rate a There's I question. Okay. that's say it customer lot Good real [indiscernible] go three-year mentioned depends China new right? up. should And line. I say, least probably right? trend that to would

Christian Schwab

different we've seems and who that a into if competitive sell be market also available, versus heard some to domestic products there markets and good into is from effort have. Great. Chinese companies providers from you China reinvigored equipment suppliers And international of marketplace, the capital there to which, domestic buy course,

growth see potential potentially the that do So well? from three over you years as your next benefiting

David Wang

think regulatory, right? as everybody still it know mature for In moment, I that limited is pretty I restrictions there mature not sell. that are can Actually, see nodes, right? same, other you this nodes, So

they So we're not doing. specific whatever are domestic, to to have buy we say,

of advantage people the our make years, two in (ph), customer. years, omni of proximity team the R&D will will closing. a supply that the center, Shanghai -- of traveling still last our customer that we kind with we We right? three go in constrained Maybe and because However, manufacturer give and can't make outstanding

not pricing consider also a more I major domestic. I as of stability a consideration that select should tool the see right? have the just to will as customer mean, still impact, and tool say I big I faster and So say, a

finally, market right, outside think share and that's really fair a other -- players also that cost, more as We major. want a product your that I That's look in your game, I domestic it's to your solution quality. really China. really market. service, also at with

Christian Schwab

And year. tools sales think last initial -- additional you this U.S. did would to you my company. then orders a say customer and And question two that regarding from heard I of thought hear I you acceptance get Perfect. I that large those correct? that Is

David Wang

Yeah.

tool. That's and right? plan, that continued hopefully, order, we're And qualify we're repeat their expansion the we that expecting. -- we've think what to got I

Christian Schwab

is gate it's like is there some exist like that customer -- with around opening opportunity complex technology up with didn't stuff products that And that for where an is or before. on all shift Great. something that that a your that customer, maybe or

David Wang

but to We cannot memory customer going NDA. about of kind too Well, kind do much even your I'm right? is talk sorry. We we that, not question, the and a target of comment talk if logic have either,

Christian Schwab

calendar then conference number of did or you outside And in in about ago, target fair. outside or market. a still I be last that China I That's that about think thinking call say, mentioned sales is we should or XX% of my should a Okay. Is you two that -- domestic question, expect I those of this 'XX, the of remember that… would shipments, shipments

David Wang

Yeah. give to That's fixed hard five now, really right number I XX. detail. more I'll our by this year, of end should say the XX. a maybe But give to of target probably five now you It to you goal.

Christian Schwab

All right Sounds No Thank other perfect. you. questions. Great.

David Wang

Thank you.

Gary Dvorchak

Thanks, Christian.

Operator

Tseng question Credit Suisse. comes Chaolien next with Our from

Your is open. line

Chaolien Tseng

region, Chaolien. that or is customer question you, revenue This location the on that is is, Mark. first Okay. region? headquarter by the to Thank and shift My David based is

David Wang

We're right? actually talk it's delivered is not quarter, about. a China Final on we -- saying about talk based location that we'll territory, the to by

Chaolien Tseng

Okay.

Fed. like So location a that's the of to more the shift

David Wang

we that allocation, exclusive also make as that. Korea. Hynix let the say exclusive Let in highly to the while Hynix, for whatever right. China China me in is both staff sure. Highly And we're let's have clear considered actually sold

So did that answer your question?

Chaolien Tseng

Yes.

also So to these next relating is actually, my customers. important question

complexity Because capacity this that we other the production much by how in next year and complexity manufacturing curious any So customers or Korea. this I'm In thinking for international year? are preparing -- that of yes. just if I'm any end Korea,

David Wang

Okay.

for two-function and the that's Chaolien? and them expansion capacity that said, we capacity manufacturing answer right? prepared still on, at there to investments, increased outside of I moment, As for sure China, in and some also including to, Korea capacity we're also I expanding say think between secondary have And using Korean well, a doing your we're me, we that in now right? going center from I can supply I a or your is make let will capacity market China and Does So co-development a be answer question. question, Shanghai. Korea tool customers because that

Chaolien Tseng

Yes. Act, they of going to few I Trade thinking furnace U.S. mean, next non-U.S. from that or or in our in Korean years. if to expand just side production I'm with Would only have purchase from potential, production U.S.? customers any Because any U.S. our side the our fab clean Shanghai the ESP

David Wang

customer Well, they're business they either right, asking obviously, it always manufacturing. continuity, call a every because two in disaster, a natural three-site even sites,

and asking they they prefer, still you're locations So happened, the prefer a have at stores customers, can two tool. these continue something they segment providing

and So the I a here world. we're call we to all can to customers it, really designed continuity in where that's supply as business the sure make exactly

Chaolien Tseng

question, would not ratio you I And might you. on increase next Thank the into if last this an earlier, major idea I'm give sure Okay. us year? after missed XXXX the R&D

David Wang

money. knows much more better. don't He I He's know answer question. your money. Mark Let

Mark McKechnie

Yeah, Chaolien.

we'd the So XXXX, on go numbers, about non-GAAP from think We XX.X%, in about it so. basis, was in XXXX through level in the XXXX. if XX.X% or or that's XX% the expect you up

Chaolien Tseng

And a that X, noted asked about in also fab previously China. in very some question Understood. David growth from Thank I that earlier of you. portion very other last analysts that X XXXX. is Tier exciting my the will discussed come revenue And the maybe customers

at on for fab versus with would fab, you share in the year last comment Tier if China look Tier this market outlook fab China in So market your year? customer Tier you curious how here this quite X, the because share X, X I'm X still

David Wang

see to will Yeah. continue the customers year, in it's number now XX% Actually, about at right second And you also if script, and I out that third right? and continue like see increase. tier we tier to because expansion some come look represent number, too. last some customer just the the And see we new

group So will increase. see Yes. it's that occupation -- we

Chaolien Tseng

regulation October And Yeah. the question, the the the regulation by to X are fourth these any related note tools, on either tools or kind advanced already we -- those the repeated further U.S. tools recognition revenue in new fab U.S. quarter? side, for revenues of the any another booked all that restricted customers of more ship

David Wang

U.S. well, there, too. also [indiscernible] revenue there from revenue for me the we I'm U.S. obviously, But expecting technology and even going trade And more, our but still quarter, And Let still see I follow there. That's some right? right? has obviously, which U.S. baseline compare as no the is reduced obviously, no coming contribution on, last been this regulation, fourth is some some in year. strictly part we year,

Chaolien Tseng

you, Thank Understood. David. Okay.

Operator

[Operator question ROTH. Instructions] a from from Suji DeSilva We have

open. is line Your

Suji DeSilva

growth traditional Tebo landscape some progress Hi, here. products? is products of What is Hi, Mark. here. materially the David. Congrats on furnace the the product, SAPs, Expecting 'XX in newer of some maybe competitive and from in the show the up newer to the the on How CMAP? different that

David Wang

Yeah.

Okay.

it this put way. Let's

wafer think drying right. I And mentioned I this single to opportunity still for SPM. in technology, the a script, in even our -- a new cleaning, have we're see new also we and continue the year, see including etcher COX. babble So just do (ph) product we growing also, supercritical we

still of we to is our of cleaning product, cover process cleaning expansion right? So almost XX% which other there,

technology some differentiated lot is we the we introduced that plating plating to year. international and a and last And gained share the also we copper market Korea Also, the this U.S., see And customers, furnace, right? have of more right, copper Europe. than of

Korea in into going a getting in Europe. even the We for continue right, see of to trend market and that expecting couple Taiwan, beyond, ratings we're Also, on. continues

China, market proprietary say. the that the of we we another And outside year, in We China. the VX also driving and furnace. poly China that there's see new right? (ph) ALD product, ARD And do in the furnace Anneal, have and furnace did including also last has two been way, high-temperature, market to nitrite, for expanded for So then so also with XXXX. the will product we this Anneal, right, our that's poly, in also multiple introduce, oxidation, LPCVD, far product penetration And design and growth vacuum customers we see be also continuously

But time. product, that new will two Track digital was take and PECVD our

we to then a beyond. putting site. customer think also the customer need at side, And XXXX will year I be revenue multiple and contribution evaluate probably that maybe almost in

Suji DeSilva

Okay. All can the right. versus logic market memory support the in what's different to the from foundry forecast? your Thanks, market David. you understand then in distinguish And shipments, China 'XX the in growth of dynamics with the China happening there in

David Wang

Okay.

-- maybe So Let's and logic mostly that was still notes increase And see this the I the mature memory, in power that I our that right? trend grow we put total obviously, grow, we're not probably but analog, this some ratio still way. say, still as seeing market, semiconductor, China. nodes growth, device it faster right? compound of see some in will ratio relative mature say the I

I want range are market. anything year, looking XX%, year, than Mark, This And bit we I from memory maybe say, that? right, right to come be lower. we're now. the little memory or last you add because market a should of about more XX% think on what little That's another from might probably come slightly a

Mark McKechnie

add anything, David. No, I don't think I'd

I well. covered it think you

Suji DeSilva

Thanks, color, Thank Dave. guys. Great. Okay. That’s really you. helpful in

David Wang

Thank you.

Mark McKechnie

Thanks, Suji.

Operator

for back in Wang questions And the turn no you. to I'd queue. showing closing David further call remarks. like Thank to the I'm Mr.

David Wang

so fast. Question Okay.

give Just second. one me

me get it. Let

for all Thank support. you operator, your call and Okay. and thank today's you, on participating for

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Gary Dvorchak

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Operator

call. conference Thank today's concludes This participating. for you

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ACM Research (ACMR) 24 Feb 232022 Q4 Earnings call transcript