ACMR - Earnings call transcript Q2 2024

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Operator

Good day, ladies and gentlemen. Thank you for standing by, and welcome to the ACM Research Fiscal Second Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, we are recording today's call.

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

Now, I'll turn the call over to Mr. of Group. Director Managing Pelayo, The Blueshirt Steven Mr. Pelayo, ahead. please go

Steven C. Pelayo

before our Good everyone. you, the will our XXXX during for as opened well released There our joining to Newswire also available Thank release results, U.S. you that is website remarks. reference today. The we as of us day, posted website, quarter of a Thank we supplemental Desmond. Investors on prepared deck market section second to which services. from the is discuss slide

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

Before X. we Slide to please continue, turn

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

Certain to and opinions results actual described However, Please on statements, undue reliance and they ACM's to under which in these risks Securities forward-looking not as are place Exchange elsewhere call Risk the ACM's Those differ date subject could uncertainties with on these and are reflect that cause only Factors we do risks non-GAAP is materially. investments. Commission. of this statements. to filings results short-term loss stock-based unrealized obliged you financial basis, any will compensation this be the excludes revisions on these provide or which forward-looking not on on that to an gain of update call. ACM of a and

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

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

David Wang

to welcome Steven. to Second turn XXXX everyone, Hello, and Earnings X. Conference Call. Please ACM Slide Quarter Thanks, Research

we for operation XX.X%. a For market and XX%. million and up $XXX.X with approximately half from gross margin of believe demonstrates is of ended Profitability $XXX year Shipments new quarter, deposits, million, XX.X% product margin than revenue million, of WFE, operating China with positive and first XX%. the and gain flow with quarter. Revenue ACM $XXX second good the up of was And rate quarter this for XX%. million, higher were was up was cash a rate growth the share the the the We cycles. for growth contribution the cash from of time $XXX.X

industrial of and for most process the steps Now, comprehensive produce cleaning grew portfolio. market to I cleaning TAM available single-wafer in Please We and on total ACM detail will provide what $X close semi-critical revenue. believe total is is the billion, of we XX% all among from estimate supporting the memory products XX% QX offers to products. Tahoe global XX% Slide product Revenue and logic. cleaning turn ACM in represented both X. cleaning or and cleaning,

product During highlight SPM the to the which cleaning contributor across market. temperature range. of last portion now all ACM to small business, XX% the sulfuric peroxide full or total SPM has XX% been earnings cleaning line call, relatively we the represented front-end of our offer a but market, of tool

look next and as the in SPM ramp up to or to have than more now XX we we have a customers months have market already production to shipment middle-temperature forward the We and contribution to currently lower revenue increase for current high temperature single-wafer SPM in XX position leader. We shipped tool and SPM steps. differentiated believe Tahoe tools us or evaluation, from XX We months. market that production share gain

China, and has dry a the technologies status. semi-critical, we XXX% we represent revenue together Mainland to ACM year for are confident XXXX. dry achieved markets. Revenue We and We believe plating, $XX We to Tahoe revenue. are front-end furnace takes in and revenue international good customers packaging. are another cleaning and continued and market record complete including other to see grew in portfolio gain also and in demand total ECP, strong supercritical with in SAPS, seeing share expect from more quarterly tool QX COX SPM in in world-class revenue TEBO, category, of track achieved evaluation wafer this cleaning we QX. it processing this We XX% back-end and our opportunity with Bevel contribute Etch COX scale major have of in XXXX, million supercritical both cleaning In tool nearly we what on in for

ap-p product announcement major to a packaging panel-level believe ACM game-changing ECP positions We participate in solutions. that FOPLP. for We the for demand today; Ultra a tool this the new plating AI growing have or next-generation fan-out is

from Our on GPUs packaging to to feature chosen market, plating enabling which with first we ALD. high-density, semiconductor opportunity more the memory, packaging make good This to proprietary technology across method furnace continue that the panel advanced solution, anneal several film have and will with a and see LPCVD major address especially as precision for is their our and We believe horizontal for design progress large sub-micron bandwidth high deliver employ steps, and ACM oxidation, product, leaders process HBM. a large AI to uniformity ranging horizontal panel. We it chip entire panel applicable application the and strengthen is among panels. employs plating

end technology making X are As a copper both the service This XX% XX.X% the customers the next including Ultra packaging this new believe cleaning Putting but QX, also China ACM from tool only noted This wet flux and panel packaging. for July, including the cycle call, is tools, from approach we we ECP, parts it portfolio we with PECVD in fan-out vacuum-p believe is technology and a a packaging compared exclude first in of In on Last benefit in panel packaging, ap-p, the panel-level of shipped the spare, help for and both is are of tools rapidly company at to tool cleaning, XX the expect product which those and offering July variety we etchers full packaging months by large Revenue IDM Ultra platform. product a the capable a customer. We tools plating up product accelerate for to was advanced of and will progress handling track to global wet prior end packaging PECVD the a ECP positions version packaging. We but spare to mark applications. and Mainland as our believe which and we logic. developer, to in among share together, coder of peer we to a earlier advanced I will for half manufacturer. first and process. space. one for beta more portfolio tool up China ACM's of is service extending range advanced at innovative and behind plating technology horizontal products, packaging category Taiwan XXXX. our scrubber, of gain tool mentioned the We of wider participate declined product success capacity furnace first about fan-out generation believe our includes market. We Overall, to ACM by is flux announced our have We ACM ACM increasing memory plating new global tool panel-level of furnace such a as the our customer. to stripper for growing and our year U.S., panel and believe set the shipped pred. XX PECVD by first in Mainland computing than polished market foundry, X proprietary interest vacuum-p and Finish packaging. C C is Korea, platform a believe tool good the China. we that offers strong And into applying of our address week, and panel-level to and for tool, exploring The year. OSAT a

local year, of evaluations memory multiple a and expect areas. We in number foundry, and logic, other this our customers

the in design tool, our of has throughput focus differentiated development track a on moving are maintenance. which We high and low forward with

evaluation for with lithography. tool engaging addition in major a also foundry, customers are AI and based we In KrF-line several i-line to Chinese

progress over later year, more next the revenue and likely We beyond. with and both expect XXXX in track for XXXX PECVD and notable good contribution in

to Please QX, NAND, DRAM. X. Slide broader we foundry, logic, In Moving turn from customer. memory, and on saw demand to both power

and customers For a XX% representing customer furnace. with leading of have the second grow. We products position believe world-class X quarter the we plating to room significant a competitive become China, company cleaning second for in full had we revenue in we quarter of of have with In the versus markets XXXX. representing a in multi-product XX% XXXX, XX%

And growth first solid the from We by product a the pleased believe track have announce C relationship, an wafer-level our tool cleaning deliver and second revenue SAPS year. is for and have for tool. U.S.-based I'm a tool which lead U.S., driven b we In Ultra products a localization. new the a share large believe Etch XXXX market U.S. the quarter backside of gain, pipeline being we and to PECVD. Overall, in Bevel evaluation increased cleaning lines. we house as deepened order qualified last multiple that production today, to to across demonstrates can packaging order manufacturer coater/developer later for we This a received China

semiconductor ALD, including facility and and Tahoe, multiple cleaning, at month, dry, other all we SK China the front-end wet in SAPS track. regions. Please a center We U.S. stage we turn is the to had the meeting in first C a facility of production days greater our To qualification product. both U.S. SEMICON and fabs R&D interest with and Korea, deliver our trade on see with solid final with week of manufacturer. our chipmakers packaging Tahoe, expansion for batch of we X. growth, In cleaning and and global COX abroad, of memory tool, PECVD Hynix to to progress We customers several made complete. support West had etch in plating of San ECP, number Ultra furnace, good expect TEBO, China, and show half XXXX. Last Lingang this engaged our at a are we SAPS, in in Francisco. tools. In We tool opportunity in nearly tool supercritical Slide our with U.S. tool major high-bandwidth Europe, for In with single-wafer capacity

initial can expect begin In half customers. Korean improve production with believe Korea, a relation We key strong year. our we of the in this to second commitment

also customers. Korea support Our provide resources another international can basis in to

capability We QX. XX,XXX continue the feet functional agreement and and site R&D of support add demonstration to in square invest full set to in us demonstration into strong new close R&D long-term for feet facility to entered customer and to Several years the to X,XXX U.S. R&D in our our semiconductor Europe. In facility conduct demonstrates a to This near activity market, a major $X Oregon a a an we purchasing square QX, technology revenue we U.S. clean target Oregon ACM ago, in service, allow purchasing room. The with billion. is scheduled commitment producers. and of

closing and now to progress international made new marketing. with are level, We this and product have we good

As each turn $X billion. Please a result, X. in major to and report ship a today to the for category. Korea. revenue reasons or have new all advanced that top the smaller set we business China of X have X also and include; scaled semiconductor We for amongst Key we I'm manufacturers, to and packaging are first, long-term our we Slide increasing nearly happy Mainland target plating cleaning, local now tool producer and

believe are and products this our current products including our world-class offering cost, our roadmap. Second, we new

compete a are moving market. At can China we ACM towards market committed innovation we with believe and in shift and high head-to-head believe tier technology a AI to is both marked warehouse. international players level, top to we the We

been good we have trends. to key interest to technology key seeing years, in and apply technology We investing several now industrial for are

to COX including me and Let furnace supercritical for dry ALD solutions, and few. logic shift TEBO highlight proprietary vertical for DRAM a our design. is also structure our XD cleaning The and demand NAND, driving

demand driving X.XD our solutions. are TSV advanced plating HBM and for Next, ] [ requirements packaging

unique with For that chamber approach, address X ACM customers our very chucks multiple including processes allow the a to with same has PECVD, X platform.

for designed therefore, high maintenance For Ultra today, believe changer scan. ACM AI future ap-p to announced plating, we at new that we as the And ECP is differentiated is chip track, level. low a game platform packaging support and throughput will panel panel ACM

scale traction a Korea, at good proving line with product our with Third, global China we and in our customers. seeing are

We several multiple have under a U.S., tool and in major at European, evaluation customers Southeast Korea Asia.

to half our the all revenue China which In assuming billion turn can target, we expect billion up our those than China. orders. $X.X in now is market will about rest account world, China production outlook. $X.X of confident for it our the provide to larger Mainland Slide business that volume for Xx will billion. I and are the another Bringing longer account We lead to will Please X. term, $X to together, beyond Xx

We outlook new new in a $XXX At have the of revenue -- XX% raised to prior our to represents outlook to to million. of midpoint, XXXX $XXX the growth to compared outlook range versus $XXX previously. million our million million $XXX year-over-year XX% be

order We with WFE's is half driven tool shipped previous We visibility the new as its country for rate. the outpacing goal shipment in the a anticipated second to production of continue spending qualification grow expect or capacity current to stable full-year shipment a rate in our revenue book, year believe to growth our [ its the growth remain end year orders, will We the customer to by ] range note with market of -- consumption. customers. of match on acceptance China mainland evaluation largely

are other Southeast our to business share new market China, customers markets. Taiwan, Mainland on and We in ramping U.S., our the Asia and gaining Korea, products Europe new expanding in focused

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

Mark McKechnie

$XX.X Revenue Unless release. turn figures XXXX, quarter measures measures measures, the following up will with Revenue for excluding Revenue second short-term earnings these XX. Unless up packaging, and XX%. ECP, XX.X%. spares and for which comparisons non-GAAP note ECP, of quarter gain, on GAAP services cleaning, cleaning packaging, other was to Thank everyone. Please is was million, up Reconciliation otherwise, semi-critical unrealized million, the now loss furnace XXX.X%. million, and for in stock-based financial you, of will Revenue front-end single-wafer Tahoe the second second XX% compensation, it Good of XX.X%. referred half, noted, I XXXX. investments. are Slide comparable for $XXX.X technologies for our XXXX. I was $XX.X to was million our margin to XX.X%. first up second long-term refer grew the XX.X%, excludes non-GAAP David. XX%. Gross highlights down otherwise $XXX XX.X% was the of target quarter, margin included for were to XX%. financial and versus shipments day, This of gross by $XXX.X provide the million, exceeded but quarter I Total to advanced

half margins full For above end and to range due year, gross we the the our target range of QX. expectations margin the for now our This be above upper for the high of gross the expect our is at first end range. margins to and QX gross for the

and to $XX.X $XX support was million. million, G&A million versus million, impacts. Operating versus marketing $XX.X $XX.X from We $XX.X such versus factors $XX.X additional primarily and as continue development due volume, pipeline. to to Sales sales million. expenses were variety period-to-period was mix personnel margin gross of vary The expenses to expect currency and million reflects product $X.X was our million R&D up year-over-year increase a million. product from $X.X

For the in XX.X%. million no $X.X period. are as gain Income and gains range, in sales XXXX, of earnings. short-term realized our the versus in and XX% million. sale million $XX.X was in investments the for to the realized versus in range. Operating of income million Operating tax $X.X we to X% the marketing $X.X quarter was a compared that Recall expense X% for ago X% year R&D non-GAAP gain to XX% $XX.X the range was from the X% to versus had We G&A million. margin XX.X% plan included

XX% $XX.X per XX% we tax pre-tax non-GAAP for share Research income plan ACM to $X.XX the on the income rate million income attributable $X.XX. Net to an $XX.X versus in was million. full year, versus range. Net effective For was diluted

expect -- Our last gradually we option the stock-based $X.XX non-GAAP off to SBC accelerated equivalents, $XXX.X $XXX.X also do for balance at This goods $XXX.X in includes $XXX.X quarter, of to the under excluded $XX second will quarter were expenses We inventory at for at flow of of cash beyond. I was from compensation that and and process goods the for share Shanghai quarter income million in half the the raw work at items. net grants, $XXX.X $XX.X versus deposits inventory for first XX% due third million half for second Capital million year. flow Total and note of expense stock and the end year. finished facilities. Cash quarter. included includes versus or review first second million million of $XX.X mainly last customers, million the million in the was operations $XX.X ACM goods and the $XX.X amortization time inventory million million. now end per expense. of ended roll our selected restricted Cash, Finished quarter. million evaluation quarter materials the at tools sheet million cash finished the cash and $XXX.X ACM first

we capital our our about for for For primarily the with fixed Shanghai in headquarters expenditures. in together our XXXX, facilities, concludes remarks. full-year expenditures. That in million expect continued asset spend This and to investments investments ACM $XXX Korea remodeling U.S., prepared the and the new the includes Lingang

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

Operator

Our from [Operator of the come ROTH Capital. from line Suji first question Instructions] Desilva

Sujeeva De Silva

progress here upped David, and Mark, Lisa, the congrats on the guidance.

what over increasing. will shipment China us the and of of half, give second is your appear some or about talk outside much Can sense the For mix maybe you that that shipments increase in China time? how versus to percent be of base how

Steven C. Pelayo

David, You to that, to? want Mark? take you want

Mark McKechnie

Suji, thanks. Yes. Sure. Yes.

versus year. third half quarter. first second higher up, a obviously, the our the expect We expect shipments of the the We'd shipments be to in bit in half

I majority would internationally, of still the outside In the Suji, be our shipments within of that China, say substantial terms China. of will mix Mainland

And half in will substantial to back the some so going to really market be shipments of have year. the outside, China is we but majority the Mainland

Sujeeva De Silva

And customers? into specifically And as an if versus Europe? kind Korea but newer Korea then something the into the are and Korean customers, starting not, Okay. for Korea I've know because shipping sounds timing of already you opportunity, been U.S. shipping customers, like you've what that that fabs China I for the of fab heard

David Wang

Okay.

are definitely with customers. So, we working Korean

Korea now there this And right at no shipments QX, -- we we moment, are in now. I so have mean, going

opportunity, including beyond see we customer. for our having the However, R&D We're engage with Korean to cleaning do product. also the the tool

So, hopefully new Korea ]. shipping half are that additional really bigger the for we this going to see [ the products. another second be is right? We where can year, we in That's products which HBM,

Sujeeva De Silva

great. because last been AI opportunity on strong. memory about growing is that if Taiwan, you today then That's market question Can has which in Outstanding. your who we fast? there, in high is know very soon, chain talk competition that's bandwidth And my the supply very that's growing the and with

David Wang

Okay.

panel of new is the that You mean side You product? that, correct? the mean

Sujeeva De Silva

The there, high the China Mainland -- into chain the supply Taiwan, products rather. bandwidth memory opportunity,

David Wang

Yes.

our product You you mean talk about? panel new

Sujeeva De Silva

back-end The Right. packaging Yes.

David Wang

I Okay. see. packaging? Back-end

engaging the are have just And the from customer U.S., packaging, we Taiwan set back-end the coater/developer the wet with well received in For first U.S. customer we we're the announced packaging. this house. engage We out advanced definitely, one and there advanced for for packaging of our in tool right? order also with

plating announced we cleaning panel. flux multiple low-pressure with panel, this announced this, engaged Meanwhile, for have in also we just for the horizontal Taiwan. So, customers our and

think X also trend, will products the definitely requirement. packaging this out of address there the new I new new

Taiwan, and both customers Mainland So, with US. in multiple right in we're China now, also engaging also the in

plus new too. believe market products also And of engaging another So, that type, panel other bring develop our will exciting type additional product. panel we're for still we new

portfolio. believe right, So, product growth bring we revenue will in another potential, that this

Sujeeva De Silva

Okay.

like all around. Sounds progress great

Operator

next of Our line comes Needham questions Charles the from Shi Co. from &

Yu Shi

questions. of couple A

second half The higher shipment first year, of are half. second but you one, like implying half-over-half a looks is in flat largely for probably the the

quarter-over-quarter of to say you that's want a half-over-half the that's a first when the comment? to That's question. to half in or year also -- want clarify, sequential hopefully, the just second a So, comment grow, shipment

Mark McKechnie

expect they half second in first than we'd shipments the be to a It's half-over-half. higher in Yes, the were half.

Yu Shi

thoughts should any people versus for this? And guide revenue think But how the Yes. the half? half on implied the first largely second flat being about

David Wang

half look Actually, is revenue the half, also point You statements. at than first right? our of higher second new middle

Yu Shi

the Definitely, dividend the ACM Okay. customers. and a any second thoughts the I when dividend Shanghai policy see already Shanghai paying investors capital ACM on expiry allocation. Then starting pretty soon? with the going about question Shanghai is to to wonder, a lock-up ACM that Research especially probably is ACM

David Wang

Yes.

dividend, probably you Shanghai and their have And Good the in distributing of future. investors for the all continue a -- point. Shanghai. ACM right, USA last about share will ACM near the Then Okay. of do this we for dividend in year China to lock-up the talk

this in still is share. ACM their think USA I our Shanghai business major can from definitely moment, and sell

consider stand no and [ inside do right? China. USA share, that there's and share you we dividend sell ] to keeping is our the reason have our However, cash of precious on The going also our have reason right now, we're ACM

Yu Shi

Sorry, David.

to want say Shanghai I the USA dividend when for clarify, Just not the ACM dividend, shareholders, mean ACM shareholders. I

David Wang

Okay.

ACM ACM the Shanghai we from So got and USA. will come dividend to

R&D dividend right? into instead is from to So the also of think interest the USA at potential and this supporting investors we back just investor. reinvested reinvest in business to for the purpose, and distribute So I best cash marketing side in this other ACM the money, we dividend, will USA believe for our the be got moment,

we focus the be add for that? you to want on our think anything So, that will usage. Mark, major dividends

Mark McKechnie

Yes. Yes. interesting echoing David any a the it's says, question, I pay have to think what dividend an I but plans U.S. we from don't mean, Charles,

Operator

the The Company. Mark comes Miller line question next Benchmark from from Our of

Mark Miller

say me congratulations. Let

good respond stock my in hopefully, And universe. probably to future. in will you're growth more investors And the that again, the very quarter. greatest the least Another at aggressively

little going and more of of give evals your color what of terms evals, countries? what in especially tools terms you in of In outside a type can on, of terms China,

David Wang

At clean, including right, have evaluation, being this customer. as our and copper for do customer. and tool, Tahoe. talk We we also And tools. really for bevel One would right, about and to Okay. tool. TEBO shift cleaning in is that really in quickly moment, in for right, go -- for one customer for and the we a the production is also U.S. supercritical be have status. production our to to of or our technology cleaning. X COX U.S., our new evaluation. And meanwhile, have Korean another cleaning plating, Also cleaning sulfuric and do do was SAPS SAPS and from with cleaning from Mark. house. also designed from final few the and That's capability the evaluation. the want also demo And customer U.S. types customers XD receiving is backside can Sure, especially also tool in another also the we're the engaged same hopefully, evaluation happily And Singapore packaging also we're another we talking the And acid coater/developer say with advanced recent I order advanced tool in European

now. that engaging customer a tool, kind powerful, cleaning we're multiple of So, with right also

Mark Miller

Okay.

have In terms above target of been your margin certainly guidance, margins range. the

target or the that implies assume guiding guiding are are the backlog, the your above range. at range. tools of at margins the top and your the in margins I backlog You that being

David Wang

Mark, you that? to want answer

Mark McKechnie

year end range to of year the be range. that because half they XX% Mark. our normal above year, Really mean, That's the of the stronger the the first right, and were the for our expecting we would gross the for upper at be to we're them range. XX% I rest the of mentioned margins above

the good. is end year And the the profile so, our yes, I for on mean, pretty margin of visibility

Operator

of [Operator question line Robert Next from Blue Instructions] comes from Lotus. McKay the

Robert McKay

in coming clearly? I Am

David Wang

please. Robert, Yes.

Robert McKay

Okay. Great.

and I might a there's discussion of evaluated does if further been our some we've be I we we've thoughts that there respect? evaluated wondering I bit if So, is, on if touchy restrictions through if there's Chinese that think on it wondering anything if in -- come of if companies. there's regarding might was talk question. I what unfortunately might any can are And there what have some and a be, important -- about impact kind be was that

David Wang

for new the mean? you this rule control, about talking export You that is what

Robert McKay

Exactly. Yes.

David Wang

Well, law, business. Okay. And I some law out we say, watch international rumor. where out carefully, definitely ACM is I right, heard speculator, with ACM, law real carefully, mean, impacted out, again, Chinese I new U.S. and market We, moment, right? should at no the say the not the rule will this just got A come follow will too. something but even follow of and come only company USA lot

the going based just come want we to on out what's to watch adjustment So, whatever regulatory on new out.

Mark McKechnie

Maybe would we I and look add a back deep China is step to take we the that at WFE.

production country is capacity. David's year to in that's will I view, invest for view our the in WFE the China their pretty think on that stable this and for years continue come, to

And the regulations. monitor any of new mentioned, we'll so David like

rules, China anticipate Of generally course, pretty the stable. to we in we'll follow remain WFE but

Robert McKay

Got it.

if there supply any In supply there chain, any rumors then, do terms -- of to fruition? of chain any is is to potential if come our impact these of a these

David Wang

[ they're see And the right snow countries, stable long Obviously, chain. other still the whatever, supply buy Supply moment, components. right? is also pretty looking at both I ] for looking been different we're mature have in supply chain, chain, for using moment, also of of parts. inside U.S. kind we multiple product, But this for And we're now, China. at we this for non-USA

of player the the local components. We qualify also

chain. new chain. our plan the definitely to quickly we And secure have of out, choice a we any when So, regulatory can switch come supply into supply alternative other

Robert McKay

a makes it. Okay. sense. of lot Got That

had one And you I hear. good backups. have So, then some question. That's to very more

in to I the think private is offering January. we announced related that

any regards private we were we some if that we hear that just into was it. with when think offering, shares. about progress I offering wondering on there's to and Shanghai any have in if to our update I front going private expect more

David Wang

time. we're We process longer. formal know right. application, the of X the secondary in But X months, in that the estimate will months, Actually, we even process the offering take Yes. in approving final China probably

So, then based of we probably the year next of second market within we're it. middle get on situation. might probably And seen we got, can offering year our another we expecting then X permission permission, the

Now, we panel-packaging system the obviously, including and we expect and in also that track tool our furnace, market. got PECVD time, in the getting our

choosing form. are our time the pricing second right So raising we're to rather and

Robert McKay

then or That the about -- any I announcement? if makes a in And the about products we was in or that think wait that It year second we can look XXXX can early until just question. we more lot forward new half one Okay. we of should to sense. this just have of had

David Wang

right? Well, I already, we obviously, we this QX, already. mean, X products announced announced

right going I'd Meanwhile, and So, furnace this We're to probably, still to ready. the we are on got announce panel, still products PECVD. copper we'll working track another on say and new like product still X. and when continue ALD other additional right, panel we're cleaning, [indiscernible] type And now; I product say new we year. major announced our this for exploring of we focused want the especially, plating, furnace and obviously,

than develop mentioned. technology other product. So, this still, not and the products to We're along completely new, I also probably going is which are new our more new this major category

Operator

to no questions call are There like closing remarks. the management I this Instructions] to would turn time. for at [Operator

David Wang

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

Investor mention to Before please? Steven, upcoming we Steven close, our events. is Relations going

Steven C. Pelayo

David. Thanks,

at in Benchmark the in Xth, quick York at & only. give want at Four in XX, present Hardware On IT XXXX conferences. Attendance Communications reminder Conference New Before will States. Summit United invitation our Hotel is on we conference August to upcoming a Seasons September present conclude, City. everyone Jefferies' the by Semiconductor, we we the at will Chicago On I TMT investor just Technology

representative register For meetings team. This sales -- your contact management interested schedule may disconnect. Bye-bye. with our investors, you please one-on-one and now to representatives the and call, concludes

ACM Research (ACMR) 7 Aug 242024 Q2 Earnings call transcript