other material
confidence high
sentiment positive
materiality 0.60
ACM Research subsidiary ACM Shanghai approves ~$37.7M dividend, targets 29-49% revenue growth
ACM Research, Inc.
- ACM Shanghai stockholders approved a dividend of approx. RMB 273.2M ($37.7M), expected by end of 2024.
- 2024 budget targets revenue growth of 29%-49% and R&D expense growth of 22%-58% (Chinese GAAP).
- ACM Research owns 82.1% of ACM Shanghai; repatriation of dividend proceeds to the US is uncertain.
- Company plans to use net proceeds from the dividend for working capital and general corporate purposes.