10-K
Annual Report
ACM Research, Inc.
ACMR
NASDAQ
CIK: 1680062
File #: 001-38273
Balance Sheet
129 line items · 2 periods
XBRL
| Item | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|
Current assets: | ||
Cash and cash equivalents | 182,090,000 | 247,951,000 |
Parent Company | 41,616,000 | 23,853,000 |
Restricted cash | 1,083,000 | 500,000 |
Short-term time deposits | 80,524,000 | 70,492,000 |
Short-term investments | 21,312,000 | 20,209,000 |
Accounts receivable, net | 283,186,000 | 182,936,000 |
Parent Company | 988,000 | 24,000 |
Nonrelated Party | 40,065,000 | 29,617,000 |
Related Party | 2,432,000 | 3,322,000 |
Parent Company - Related Party | 3,176,000 | 0 |
Parent Company - Nonrelated Party | 5,803,000 | 5,017,000 |
Related Party | 545,395,000 | 393,172,000 |
Prepaid expenses | 20,023,000 | 15,607,000 |
Parent Company | 385,000 | 134,000 |
Total current assets | 1,176,110,000 | 963,806,000 |
Parent Company | 51,968,000 | 29,028,000 |
Property, plant and equipment, net | 201,848,000 | 82,875,000 |
Parent Company | 134,000 | 0 |
Land use right, net | 8,367,000 | 8,692,000 |
Operating lease right-of-use asset, net | 7,026,000 | 2,489,000 |
Intangible assets, net | 2,538,000 | 1,255,000 |
Long-term time deposits | 40,818,000 | 101,956,000 |
Deferred tax assets | 20,271,000 | 6,703,000 |
Parent Company | 20,271,000 | 6,703,000 |
Long-term investments | 27,880,000 | 17,459,000 |
Ninebell - Equity investee: | 5,632,000 | 5,199,000 |
Wooil - Equity investee: | 1,003,000 | 1,011,000 |
Shengyi - Equity investee: | 1,693,000 | 1,168,000 |
Hefei Shixi - Equity investee: | 9,174,000 | 8,645,000 |
Equity investee: | 17,502,000 | 16,023,000 |
Waferworks - Investments accounted for using measurement alternative: | 1,412,000 | 1,436,000 |
Shengyi - Investments accounted for using measurement alternative: | 857,000 | 0 |
Company A - Investments accounted for using measurement alternative: | 4,236,000 | 0 |
Company B - Investments accounted for using measurement alternative: | 932,000 | 0 |
Other - Investments accounted for using measurement alternative: | 2,941,000 | 0 |
Other long-term assets | 6,050,000 | 50,265,000 |
Total assets | 1,490,908,000 | 1,235,500,000 |
Parent Company | 805,755,000 | 689,657,000 |
Liabilities and Equity | ||
Current liabilities: | ||
Short-term borrowings | 31,335,000 | 56,004,000 |
Line of Credit Due On August 17, 2023 With An Annual Interest Rate Of 3.40% | 0 | 8,616,000 |
Line of Credit Due On September 1, 2023 With An Annual Interest Rate Of 3.60% | 0 | 8,616,000 |
Line of Credit Due On December 16, 2023 With An Annual Interest Rate Of 3.00% | 0 | 4,308,000 |
Line of Credit Due On August 29, 2024 With An Annual Interest Rate Of 3.00% | 2,463,000 | 0 |
Line Of Credit, Due On August 11, 2023 With An Annual Interest Rate Of 3.60% | 0 | 8,616,000 |
Line Of Credit, Due On September 5, 2023 With An Annual Interest Rate Of 3.50% | 0 | 5,744,000 |
Line Of Credit, Due On August 26, 2023 With An Annual Interest Rate Of 3.15% | 0 | 5,744,000 |
Line of Credit, China Merchants Bank, due on September 7, 2024 with an annual interest rate of 2.87% | 5,648,000 | 0 |
Line Of Credit, Due On July 21, 2023 With An Annual Interest Rate Of 3.50% | 0 | 1,292,000 |
Line Of Credit, Due On July 27, 2023 With An Annual Interest Rate Of 3.50% | 0 | 1,292,000 |
Line Of Credit, Due On August 1, 2023 With An Annual Interest Rate Of 3.50% | 0 | 1,292,000 |
Line Of Credit, Due On August 3, 2023 With An Annual Interest Rate Of 3.50% | 0 | 1,292,000 |
Line Of Credit, Due On August 7, 2023 With An Annual Interest Rate Of 3.50% | 0 | 1,293,000 |
Line Of Credit, Due On August 14, 2023 With An Annual Interest Rate Of 3.50% | 0 | 1,293,000 |
Line Of Credit, Due On August 15, 2023 With An Annual Interest Rate Of 3.50% | 0 | 1,293,000 |
Line Of Credit, Due On August 21, 2023 With An Annual Interest Rate Of 3.50% | 0 | 1,005,000 |
Line Of Credit, Due On August 28, 2023 With An Annual Interest Rate Of 3.50% | 0 | 1,292,000 |
Line Of Credit, Due On September 13, 2023 With An Annual Interest Rate Of 3.50% | 0 | 1,292,000 |
Line Of Credit, Due On September 20, 2023 With An Annual Interest Rate Of 3.50% | 0 | 1,293,000 |
Line Of Credit, Due On September 29, 2023 With An Annual Interest Rate Of 3.50% | 0 | 431,000 |
Line of Credit, China Merchants Bank, due on August 7, 2024 with an annual interest rate of 3.00% | 1,271,000 | 0 |
Line of Credit, China Merchants Bank, due on August 8, 2024 with an annual interest rate of 3.00% | 1,271,000 | 0 |
Line of Credit, China Merchants Bank, due on August 9, 2024 with an annual interest rate of 3.00% | 1,271,000 | 0 |
Line of Credit, China Merchants Bank, due on August 14, 2024 with an annual interest rate of 3.00% | 1,271,000 | 0 |
Line of Credit, China Merchants Bank, due on August 17, 2024 with an annual interest rate of 3.00% | 1,271,000 | 0 |
Line of Credit, China Merchants Bank, due on August 20, 2024 with an annual interest rate of 3.00% | 1,271,000 | 0 |
Line of Credit, China Merchants Bank, due on August 21, 2024 with an annual interest rate of 3.00% | 1,271,000 | 0 |
Line of Credit, China Merchants Bank, due on August 22, 2024 with an annual interest rate of 3.00% | 1,271,000 | 0 |
Line of Credit, China Merchants Bank, due on August 24, 2024 with an annual interest rate of 3.00% | 1,271,000 | 0 |
Line of Credit, China Merchants Bank, due on August 27, 2024 with an annual interest rate of 3.00% | 1,271,000 | 0 |
Line of Credit, China Merchants Bank, due on August 29, 2024 with an annual interest rate of 3.00% | 1,271,000 | 0 |
Line of Credit, China Merchants Bank, due on August 30, 2024 with an annual interest rate of 3.00% | 1,271,000 | 0 |
Line of Credit, China Merchants Bank, due on September 3, 2024 with an annual interest rate of 3.00% | 1,271,000 | 0 |
Line of Credit, China Merchants Bank, due on September 5, 2024 with an annual interest rate of 3.00% | 1,270,000 | 0 |
Line of Credit, China Merchants Bank, due on September 6, 2024 with an annual interest rate of 3.00% | 1,270,000 | 0 |
Line of Credit, China Merchants Bank, due on September 10, 2024 with an annual interest rate of 3.00% | 1,270,000 | 0 |
Line of Credit, China Merchants Bank, due on September 12, 2024 with an annual interest rate of 3.00% | 1,270,000 | 0 |
Line of Credit Due On July 12, 2024 With An Annual Interest Rate Of 6.03% | 77,000 | 0 |
Line of Credit Due On December 15, 2024 With An Annual Interest Rate Of 4.29% | 1,544,000 | 0 |
Long-Term Debt, Current Maturities | 6,783,000 | 2,322,000 |
Nonrelated Party | 141,814,000 | 101,735,000 |
Related Party | 11,407,000 | 14,468,000 |
Ninebell - Related Party | 7,624,000 | 10,526,000 |
Shengyi - Related Party | 3,783,000 | 3,942,000 |
Advances from customers | 181,368,000 | 153,773,000 |
Deferred revenue | 3,687,000 | 4,174,000 |
Income taxes payable | 6,401,000 | 3,469,000 |
Parent Company | 6,402,000 | 3,469,000 |
FIN-48 payable | 12,149,000 | 6,686,000 |
Parent Company | 12,149,000 | 6,686,000 |
Other payables and accrued expenses | 102,951,000 | 52,201,000 |
Current portion of operating lease liability | 2,764,000 | 1,382,000 |
Total current liabilities | 500,659,000 | 396,214,000 |
Long-Term borrowings | 53,952,000 | 18,687,000 |
Parent Company | 14,120,000 | 0 |
Operating Lease, Liability, Noncurrent | 4,262,000 | 1,107,000 |
Other Liabilities, Noncurrent | 5,873,000 | 7,321,000 |
Subsidies to Stress Free Polishing project, commenced in 2008 and 2017 | 475,000 | 611,000 |
Subsidies to other cleaning tools, commenced in 2020 | 632,000 | 785,000 |
Subsidies to SW Lingang R&D development in 2021 | 3,467,000 | 4,266,000 |
Subsidies to CO2 Technology | 275,000 | 965,000 |
Other | 1,024,000 | 694,000 |
Total liabilities | 564,746,000 | 423,329,000 |
Parent Company | 38,371,000 | 14,800,000 |
Equity: | ||
Class A Common Stock | 6,000 | 5,000 |
Common Stock Class B | 1,000 | 1,000 |
Additional paid-in capital | 629,845,000 | 604,089,000 |
Retained earnings | 156,827,000 | 94,426,000 |
Statutory surplus revenue | 30,060,000 | 16,881,000 |
ACM Research (Shanghai), Inc. | 30,060,000 | — |
Accumulated other comprehensive loss | (49,349,000) | (40,546,000) |
Total ACM Research, Inc. stockholders’ equity | 767,390,000 | 674,856,000 |
Parent Company | 767,384,000 | 674,857,000 |
Non-controlling interests | 158,772,000 | 137,315,000 |
Total equity | 926,162,000 | 812,171,000 |
Class A Common Stock - Common Stock | 6,000 | 5,000 |
Common Stock Class B - Common Stock | 1,000 | 1,000 |
Additional Paid- in Capital | 629,845,000 | 604,089,000 |
Retained Earnings | 156,827,000 | 94,426,000 |
Statutory Surplus Reserve | 30,060,000 | 16,881,000 |
Accumulated Other Comprehensive Income (Loss) | (49,349,000) | (40,546,000) |
Non-controlling Interests | 158,772,000 | 137,315,000 |
Revision of Prior Period, Accounting Standards Update, Adjustment - Retained Earnings | — | (1,769,000) |
Revision of Prior Period, Accounting Standards Update, Adjustment | — | (1,769,000) |
Total liabilities and equity | 1,490,908,000 | 1,235,500,000 |
Parent Company | 805,755,000 | 689,657,000 |