10-Q
Quarterly Report
ACM Research, Inc.
ACMR
NASDAQ
CIK: 1680062
File #: 001-38273
Balance Sheet
91 line items · 2 periods
XBRL
| Item | Mar 31, 2025 | Dec 31, 2024 |
|---|---|---|
Assets | ||
Current assets: | ||
Cash and cash equivalents | 457,240,000 | 407,445,000 |
Restricted cash | 10,586,000 | 3,865,000 |
Short-term time deposits (note 2) | 17,202,000 | 17,277,000 |
Short-term investments (note 14) | 18,319,000 | 19,373,000 |
Accounts receivable, net (note 4) | 387,849,000 | 387,045,000 |
Nonrelated Party | 35,050,000 | 41,859,000 |
Related Party | 1,384,000 | 1,024,000 |
Ninebell - Related Party | 277,000 | 1,024,000 |
Shengyi - Related Party | 1,107,000 | 0 |
Inventories, net (note 5) | 609,567,000 | 597,984,000 |
Prepaid expenses and other current assets | 10,677,000 | 7,507,000 |
Total current assets | 1,547,874,000 | 1,483,379,000 |
Property, plant and equipment, net (note 6) | 277,065,000 | 269,272,000 |
Operating lease right-of-use assets, net (note 10) | 17,747,000 | 14,038,000 |
Intangible assets, net | 2,997,000 | 3,461,000 |
Long-term time deposits (note 2) | 13,393,000 | 13,275,000 |
Deferred tax assets (note 18) | 16,457,000 | 14,781,000 |
Long-term investments (note 13) | 54,814,000 | 37,063,000 |
Ninebell - Equity investee: | 25,137,000 | 7,862,000 |
Wooil - Equity investee: | 936,000 | 936,000 |
Shengyi - Equity investee: | 3,210,000 | 2,775,000 |
Hefei Shixi - Equity investee: | 4,809,000 | 4,798,000 |
Company D - Equity investee: | 4,179,000 | 4,173,000 |
Equity investee: | 38,271,000 | 20,544,000 |
Shengyi - Investments accounted for using measurement alternative: | 846,000 | 845,000 |
Company A - Investments accounted for using measurement alternative: | 4,179,000 | 4,173,000 |
Company B - Investments accounted for using measurement alternative: | 919,000 | 918,000 |
Company C - Investments accounted for using measurement alternative: | 1,741,000 | 1,739,000 |
Company E - Investments accounted for using measurement alternative: | 1,393,000 | 1,391,000 |
Company F - Investments accounted for using measurement alternative: | 1,393,000 | 1,391,000 |
Other - Investments accounted for using measurement alternative: | 697,000 | 696,000 |
Subtotal measurement alternative - Investments accounted for using measurement alternative: | 11,168,000 | 11,153,000 |
Company G - Available for sale debt securities | 4,179,000 | 4,173,000 |
Other - Available for sale debt securities | 1,196,000 | 1,193,000 |
Other long-term assets (note 7) | 3,421,000 | 20,452,000 |
Total assets | 1,933,768,000 | 1,855,721,000 |
Liabilities and Equity | ||
Current liabilities: | ||
Short-term borrowings (note 8) | 24,951,000 | 32,814,000 |
Line Of Credit, China Merchants Bank, Due On March 12, 2026 With An Annual Interest Rate Of 2.28% | 1,394,000 | 0 |
Line Of Credit, China Merchants Bank, Due On August 27, 2025 With An Annual Interest Rate Of 2.60% | 1,324,000 | 1,322,000 |
Line Of Credit, China Merchants Bank, Due On September 11, 2025 With An Annual Interest Rate Of 2.60% | 1,324,000 | 1,322,000 |
Line Of Credit, China Merchants Bank, Due On February 27, 2025 With An Annual Interest Rate Of 2.60% | 0 | 1,322,000 |
Line Of Credit, China Merchants Bank, Due On February 28, 2025 With An Annual Interest Rate Of 2.60% | 0 | 1,322,000 |
Line Of Credit, China Merchants Bank, Due On March 1, 2025 With An Annual Interest Rate Of 2.60% | 0 | 1,322,000 |
Line Of Credit, China Merchants Bank, Due On March 5, 2025 With An Annual Interest Rate Of 2.60% | 0 | 1,322,000 |
Line Of Credit, China Merchants Bank, Due On March 8, 2025 With An Annual Interest Rate Of 2.60% | 0 | 1,253,000 |
Line of Credit, due on March 20, 2025 with an annual interest rate of 2.75%. | 0 | 16,706,000 |
Line of Credit, due on September 22, 2025 with an annual interest rate of 2.5%. | 5,576,000 | 5,569,000 |
Line of Credit Due On December 16, 2025 With An Annual Interest Rate Of 4.43% | 0 | 1,354,000 |
Current portion of long-term borrowings (note 11) | 67,935,000 | 44,472,000 |
Nonrelated Party | 116,441,000 | 139,294,000 |
Related Party | 19,285,000 | 16,133,000 |
Ninebell - Related Party | 12,782,000 | 10,830,000 |
Shengyi - Related Party | 6,503,000 | 5,303,000 |
Advances from customers | 241,456,000 | 243,949,000 |
Deferred revenue | 10,781,000 | 8,537,000 |
Income taxes payable (note 18) | 6,168,000 | 12,779,000 |
FIN-48 payable (note 18) | 19,483,000 | 19,466,000 |
Other payables and accrued expenses (note 9) | 118,814,000 | 121,657,000 |
Current portion of operating lease liabilities (note 10) | 3,564,000 | 2,132,000 |
Total current liabilities | 628,878,000 | 641,233,000 |
Long-term borrowings (note 11) | 134,540,000 | 105,525,000 |
Long-term operating lease liabilities (note 10) | 6,149,000 | 3,840,000 |
Other long-term liabilities (note 12) | 8,848,000 | 9,217,000 |
Subsidies commenced in 2020 and prior | 641,000 | 699,000 |
Subsidies to Lingang R&D development, commenced in 2021 | 7,114,000 | 7,350,000 |
Other | 1,093,000 | 1,168,000 |
Total liabilities | 778,415,000 | 759,815,000 |
Equity: | ||
Stockholders’ equity: | ||
Class A Common Stock | 6,000 | 6,000 |
Common Stock Class B | 1,000 | 1,000 |
Additional paid-in capital | 700,191,000 | 677,476,000 |
Retained earnings | 280,380,000 | 260,000,000 |
Statutory surplus reserve (note 21) | 30,514,000 | 30,514,000 |
ACM Research (Shanghai), Inc. ("ACM Shanghai") | 30,514,000 | 30,514,000 |
Accumulated other comprehensive loss | (61,946,000) | (63,372,000) |
Total ACM Research, Inc. stockholders’ equity | 949,146,000 | 904,625,000 |
Non-controlling interests | 206,207,000 | 191,281,000 |
Total equity | 1,155,353,000 | 1,095,906,000 |
Class A Common Stock - Common Stock | 6,000 | 6,000 |
Common Stock Class B - Common Stock | 1,000 | 1,000 |
Additional Paid- in Capital | 700,191,000 | 677,476,000 |
Retained Earnings | 280,380,000 | 260,000,000 |
Statutory Surplus Reserve | 30,514,000 | 30,514,000 |
Accumulated Other Comprehensive Loss | (61,946,000) | (63,372,000) |
Non-controlling Interests | 206,207,000 | 191,281,000 |
Total liabilities and equity | 1,933,768,000 | 1,855,721,000 |