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Semiconductor wafer-cleaning and electroplating equipment maker, the China-based operating unit of Nasdaq-listed ACM Research.
Semiconductor wafer-cleaning and electroplating equipment maker, the China-based operating unit of Nasdaq-listed ACM Research.
Sells equipment system by system to chipmakers, so revenue follows customers' fab build-out and upgrade plans rather than recurring subscriptions, with spare parts and service following the tools. It is the Shanghai-listed unit of ACM Research of the US, which holds the controlling stake, and serves mainly Chinese fabs.
Moat: narrow (customer qualification, IP / patents, process know-how). Patented cleaning technology qualified into Chinese fabs amid the equipment-localisation push.
Headquarters: Shanghai, China · Founded: 1998 · Employees: 2,485
Size ACM Research (Shanghai) (688082.SS) is a China Industrials company (Industrial Machinery) with a market value of $14.6B, the 161st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥200.90 on 6 Nov 2026.
Performance Over six months the shares gained 30.4%, against -11.2% for the median peer and -16.4% for the China market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 8.8% over the last twelve months (peer median +7.5%); the operating margin is 15.1% (peer median 18.1%).
Valuation It trades at 54.1× forward earnings against a peer median of 21.5× (2nd most expensive of 21).
Capital Return on invested capital runs 2.1 points below its cost of capital (10.8% WACC).
Next results Next results expected around 4 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥7.38B | CN¥6.79B | CN¥5.62B | CN¥3.89B | CN¥2.87B |
| Revenue growth | — | +21% | +44% | +35% | — |
| Gross profit | CN¥3.42B | CN¥3.18B | CN¥2.67B | CN¥1.97B | CN¥1.38B |
| EBITDA | n/a | CN¥1.38B | CN¥1.31B | CN¥908M | CN¥675M |
| Net income | CN¥1.20B | CN¥1.40B | CN¥1.15B | CN¥911M | CN¥668M |
| Free cash flow | -CN¥907M | -CN¥238M | CN¥717M | -CN¥692M | -CN¥947M |
| Capital expenditure | CN¥999M | CN¥504M | CN¥574M | CN¥398M | CN¥686M |
| Total debt | CN¥2.62B | CN¥1.89B | CN¥1.25B | CN¥594M | CN¥554M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| ACM Research (Shanghai) 688082.SS | $14.6B | +30% | +9% | 15% | 54.1× | n/a |
| NAURA Technology 002371.SZ | $60.6B | +4% | +18% | 11% | 56.5× | 33.4% |
| Screen 7735.T | $9.20B | -24% | +3% | 20% | 12.4× | 17.3% |
| Lam Research LRCX | $250B | -32% | +33% | 37% | 19.6× | 26.4% |
| KINGSEMI 688037.SS | $6.56B | -7% | +41% | -5% | 264.1× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 688082.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -26.5% | -5.3% | 2nd lowest of 21 |
| 6-month return | +30.4% | -11.2% | 2nd highest of 21 |
| Distance from 52-week high | -56.3% | -29.0% | 2nd lowest of 21 |
| Revenue growth (TTM) | +8.8% | +7.5% | 9th highest of 21 |
| Operating margin | 15.1% | 18.1% | 6th lowest of 21 |
| Forward P/E | 54.1× | 21.5× | 2nd most expensive of 21 |
| ROIC minus cost of capital | -2.1 pp | +6.5 pp | 2nd lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| ACM Research (Shanghai) 688082.SS | China | $14.6B | +30% | +9% | 15% | 54.1× | n/a | n/a |
| Lincoln Electric LECO | United States | $14.9B | +2% | +11% | 18% | 22.0× | 13.3% | +9.7% |
| Ihi 7013.T | Japan | $15.4B | -20% | +8% | 10% | 12.7× | 16.7% | +8.1% |
| Lifco LIFCO-B.ST | Sweden | $13.1B | +1% | +7% | 19% | 29.3× | 15.2% | +15.4% |
| IDEX IEX | United States | $16.7B | +5% | +7% | 21% | 23.7× | 14.7% | +8.0% |
| GEA Group Aktiengesellschaft G1A.DE | Germany | $12.6B | +25% | +4% | 12% | 21.0× | 5.8% | +3.5% |
| Nordson NDSN | United States | $17.3B | +10% | +7% | 27% | 24.5× | 15.4% | +5.6% |
| Zhejiang Sanhua Intelligent Controls 2050.HK | Hong Kong | $11.9B | -38% | +8% | 15% | 18.4× | 8.7% | +19.9% |
| Lennox International LII | United States | $11.7B | -34% | +2% | 19% | 15.3× | 5.0% | +7.4% |
| Madison Air Solutions MAIR | United States | $11.6B | -45% | +27% | 17% | 20.6× | 31.9% | +27.3% |
| Watts Water Technologies WTS | United States | $11.6B | +17% | +17% | 19% | 24.6× | 15.8% | +10.1% |
| Woodward WWD | United States | $18.7B | -14% | +22% | 16% | 31.0× | 18.9% | +7.4% |
| VAT VACN.SW | Switzerland | $19.0B | -11% | -2% | 25% | 48.2× | 25.8% | +9.2% |
| BELIMO BEAN.SW | Switzerland | $11.0B | +1% | +20% | 21% | 37.2× | 12.5% | +11.1% |
| Daifuku 6383.T | Japan | $10.9B | -33% | +21% | 15% | 18.9× | 14.7% | +8.3% |
| Graco GGG | United States | $10.9B | -13% | +5% | 27% | 20.0× | 8.1% | +6.3% |
| Pentair PNR | United States | $10.9B | -11% | -4% | 22% | 13.2× | 7.1% | +6.7% |
| Flowserve FLS | United States | $10.2B | +13% | 0% | 14% | 17.8× | 15.0% | +4.9% |
| Indutrade INDT.ST | Sweden | $9.94B | +39% | +6% | 12% | 28.6× | 18.4% | +10.9% |
| Smc 6273.T | Japan | $21.9B | -27% | +16% | 24% | 15.9× | 16.2% | +8.8% |
| SYM SYM | United States | $22.3B | -30% | +20% | 1% | 101.9× | n/a | n/a |