ACM Research (Shanghai), Inc.

SSE

688082

Stock

Yield per half year: +7.6%
Dividend yield: 1.12%
Sector: Technology

Reporting ACM Research (Shanghai), Inc.

Capitalization

IFRS

Reporting Annual Quarterly

	2017	2018	2019	2020	2021	2022	2023	2024	LTM	5 year average	CAGR 5
Капитализация, млрд ¥					55.31	40.94	45.91		48.62	47.39	-6.02
Выручка, млрд ¥	0.2536	0.5503	0.7567	1.01	1.62	2.87	3.89	5.62	5.62	3.00	40.96
Чистая прибыль, млрд ¥	0.0109	0.0925	0.1349	0.1968	0.2662	0.6685	0.9105	1.15	1.15	0.6384	42.34
EV, млрд ¥		-0.031	-0.3431	0.0282	52.15	30.36	47.87		30.36	26.01	-368.49
EBIT, млрд ¥	0.0154	0.1079	0.1551	0.1449	0.268	0.7168	0.8747		0.7168	0.4319	41.33
EBITDA, млрд ¥	0.0177	0.1103	0.1667	0.1496	0.3064	0.8357	0.9112		0.8357	0.4739	40.45
OIBDA, млрд ¥				0.0977	0.3081	0.8839				0.4299	108.37
Баланс стоимость, млрд ¥	0.0484	0.145	0.8299	1.05	4.81	5.52	6.46	7.67	7.67	5.10	48.84
FCF, млрд ¥	-0.011	0.0241	0.0625	-0.4437	-0.2488	-0.9543	-0.8254	0.6423	0.6423	-0.3660	-207.68
Операционный денежный поток, млрд ¥	-0.009	0.0388	0.0727	-0.0882	-0.1892	-0.2687	-0.427	1.22	1.22	0.0494	-269.11
Операционная прибыль, млрд ¥	0.0192	0.1038	0.1551	0.1449	0.268	0.7168	0.8892	1.3	1.3	0.6638	55.09
Операционные расходы, млрд ¥	0.0939	0.1394	0.1883	0.2717	0.4252	0.7262	3	4.31	4.31	1.75	73.81
CAPEX, млрд ¥	0.0021	0.0147	0.0102	0.3554	0.0596	0.6856	0.3984	0.5738	0.5738	0.4146	10.05

	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	5 quarters average	CAGR 5
Капитализация, млрд ¥					55.31				35.49				49.42						46.74	-3.68
Выручка, млрд ¥									0.8949	0.6158	0.994	1.14	1.14	0.9214	1.48	1.57	1.64	1.31	1.38	7.29
Чистая прибыль, млрд ¥									0.2276	0.1309	0.3085	0.2332	0.2379	0.0802	0.363	0.315	0.395	0.2463	0.2799	25.16
EV, млрд ¥						35.54	40.29	45.96	34.47	37.8									38.81	1.24
EBIT, млрд ¥					0.1056	0.0599	0.2372	0.2236	0.2579	0.1559									0.1869	21.08
EBITDA, млрд ¥	0.0845	0.0377	0.052	0.0666	0.1119	0.0329	0.245	0.254	0.2647	0.1476									0.1888	35.01
Баланс стоимость, млрд ¥									5.52	5.66	5.85	6.15	6.46	6.62	6.8	7.18	7.67	8.08	7.27	4.07
FCF, млрд ¥									-0.5033	-0.0858	-0.0302	-0.2014	-0.2614	-0.2378	0.4003	-0.0544	0.5342	-0.0357	0.1213	-31.56
Операционная прибыль, млрд ¥									0.2579	0.1559	0.2822	0.2623	0.1984	0.0993	0.391	0.3671	0.4463	0.319	0.3245	26.29
Операционные расходы, млрд ¥									0.239	0.19	0.7118	0.8777	0.9401	0.8221	1.09	1.21	1.19	0.9868	1.06	3.72
CAPEX, млрд ¥									0.5033	0.0858	0.0866	0.1338	0.0922	0.0828	0.2014	0.1751	0.1145	0.1289	0.1405	9.26

Cash flow Cash flow quarterly Assets

Balance sheet

IFRS

Reporting Annual Quarterly

	2017	2018	2019	2020	2021	2022	2023	2024	LTM	5 year average	CAGR 5
Наличность, млрд ¥	0.0452	0.0958	0.44	0.2713	3.4	1.56	1.52	2.63	2.63	1.88	57.51
Short Term Investments ¥				0.1842	0.1881	0.1407	0.1412	0.1381	0.1381	0.1585	-5.60
Total Receivables ¥			0.2099	0.2561	0.5422	1.07	1.59	2.13	2.13	1.12	52.75
Total Current Assets ¥	0.2897	0.5678	1.21	1.42	5.81	6.3	7.59	9.5	9.5	6.12	46.25
Чистые активы, млрд ¥		0.5678	1.21	1.42	5.81	6.3	6.46		6.3	4.24	39.79
Активы, млрд ¥	0.3209	0.636	1.31	1.84	6.34	8.18	9.75	12.13	12.13	7.65	45.82
Short Term Debt ¥	0.0333	0.0648	0.097	0.1822	0.0915	0.4163	0.2222	0.236	0.236	0.2296	5.31
Long Term Debt ¥				0.1173	0.1464	0.1301	0.2823	0.7582	0.7582	0.2869	45.24
Задолженность, млрд ¥	0.2726	0.491	0.4781	0.7949	1.52	2.65	3.3	4.46	4.46	2.54	41.19
Чистый долг, млрд ¥	-0.0119	-0.031	-0.3431	0.0282	-3.15	-1.01	-1.02	-1.64	-1.64	-1.3584	-325.38
Долг, млрд ¥		0.0648	0.097	0.2995	0.2379	0.5541	0.5045	0.9942	0.9942	0.5180	27.12
Interest income ¥			0.002	0.0027	0.0029	0.0351	0.0279			0.0141	69.40
Расходы на обслуживание долга ¥	0.0021	0.005	0.0075	0.0063	0.0061	0.012	0.0201	0.0269	0.0269	0.0143	33.68
Чист. проц. доходы, млрд ¥			-0.0057	-0.004	-0.0039	0.0214	0.0064		0.0279	0.0028	-202.34
Амортизация, млрд ¥	0.0023	0.0025	0.0116	0.0047	0.0384	0.1189				0.0352	116.50
Себестоимость, млрд ¥	0.1404	0.3071	0.4152	0.5664	0.9314	1.47	1.92	2.87	2.87	1.55	38.34
Товарно материальные запасы ¥	0.1355	0.2642	0.3073	0.6149	1.44	2.69	3.93	4.23	4.23	2.58	47.06

	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	5 quarters average	CAGR 5
Наличность, млрд ¥					1.56	1.66	1.74	1.26	1.52	1.43	2.16	2.01	2.63	2.87	2.22	14.95
Short Term Investments ¥					0.1407	0.0925	0.0461	0.1568	0.1412	0.1191	0.1333	0.1404	0.1381	0.1315	0.1325	2.00
Total Receivables ¥					1.07	1.15	1.2	1.24	1.59	1.56	1.52	1.99	2.13	2.28	1.90	7.89
Total Current Assets ¥					6.3	6.46	6.71	6.67	7.59	7.83	8.71	8.94	9.5	9.91	8.98	4.82
Чистые активы, млрд ¥		5.42	5.6	6.31	6.3	6.46									6.02	3.57
Активы, млрд ¥					8.18	8.59	9	9.09	9.75	10.13	11	11.37	12.13	12.64	11.45	4.53
Short Term Debt ¥					0.4163	0.4203	0.435	0.3117	0.2222	0.3884	0.3881	0.2368	0.236	0.1791	0.2857	-14.34
Long Term Debt ¥					0.1301	0.1254	0.1149	0.2854	0.2823	0.2793	0.4052	0.6433	0.7582	0.7658	0.5704	22.35
Задолженность, млрд ¥					2.65	2.93	3.15	2.94	3.3	3.5	4.2	4.18	4.46	4.56	4.18	5.43
Чистый долг, млрд ¥					-1.01	-1.07	-1.19	-0.6629	-1.02	-0.7623	-1.37	-1.13	-1.64	-1.93	-1.3665	20.42
Долг, млрд ¥					0.5464	0.5457	0.5499	0.5971	0.5045	0.6676	0.7933	0.8802	0.9942	0.9449	0.8560	7.19
Interest income ¥		0.0077	0.0231	0.0383	0.058	0.0054	0.0201	-0.0369	0.0501						0.0193	-2.89
Расходы на обслуживание долга ¥					0.0048	0.005	0.0051	0.005	0.0049	0.0048	0.006	0.0079	0.0081	0.0136	0.0081	23.16
Чист. проц. доходы, млрд ¥		0.00013	0.0109	0.0675	-0.0571	-0.0141	0.0182	0.0311	-0.0288	0.0047					0.0022	-180.27
Амортизация, млрд ¥	0.0063	-0.027	0.0078	0.0303	0.0068	-0.0083									0.0019	-21.02
Себестоимость, млрд ¥					0.4193	0.2795	0.4996	0.5089	0.5787	0.4946	0.691	0.8637	0.8233	0.6415	0.7028	5.34
Товарно материальные запасы ¥					2.69	3.16	3.32	3.6	3.93	4.2	4.39	4.36	4.23	4.3	4.30	0.47

	5 quarters average	CAGR 5

Share

IFRS

Reporting Annual Quarterly

	2018	2019	2020	2021	2022	2023	2024	2025	LTM	5 year average	CAGR 5
EPS	0.247	0.36	0.5	0.4062	1.7	2.09	2.63		2.63	1.47	39.38
Цена акции ао				127.8	79.9	104.41	100	109.5	109.5	104.32	-3.04
Число акций ао, млн	374.69	433.56	433.56	433.56	393.54	435.71	438.74		438.74	427.02	0.24
FCF/акцию	0.0643	0.1443	-1.02	-0.5738	-2.42	-1.89	1.46		1.46	-0.8888	-207.44

	2019Q4	2020Q4	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	5 quarters average	CAGR 5
EPS							0.52	0.3	0.7116	0.5378	0.546	0.184	0.8323	0.7222	0.9003	0.5582		0.6394	24.85
Цена акции ао			127.58	96.99	87.41	111.64	82.32	88.06	113.1	106.16	113.24						109.5	106.01	4.45
Число акций ао, млн	433.56	433.56	433.56				431.11				436.46							433.65	0.13
FCF/акцию							-1.17	-0.1966	-0.0696	-0.4645	-0.5999	-0.5459	0.9179	-0.1248	1.22	-0.0809		0.2773	-31.74

Efficiency

IFRS

Reporting Annual Quarterly

	2017	2018	2019	2020	2021	2022	2023	2024	2025	LTM	Industry average	5 year average	CAGR 5
ROE, %	22.46	63.79	16.25	18.76	5.53	12.93	15.2	16.33		16.33	4.48	13.75	-2.74
ROA, %	3.38	14.55	10.31	10.67	4.2	9.21	10.16	10.54		10.54	2.62	8.96	-0.24
ROIC, %			15.25	15.07	5.49	13.96	17.36					13.43	2.63
ROS, %	4.28	16.82	17.82	19.53	16.43	23.27	23.42	20.53	20.53	20.53	-1.17	20.84	4.56
ROCE, %	31.89	74.38	18.69	13.82	5.57	12.4	14.7		9.35	9.35	0.00	11.17	-7.52
Ebit margin, %			20.5	14.38	16.53	24.95			12.76	12.76		17.82	-9.05
Рентаб EBITDA, %	6.97	20.05	22.03	14.85	18.9	29.09	29.07		14.88	14.88	7.77	21.36	0.04
Чистая рентаб, %	4.28	16.82	17.82	19.53	16.43	23.27	23.42	20.53		20.53	-1.17	20.64	1.00
Operation Margin, %	7.58	18.86	20.5	14.38	16.53	24.95	22.87	23.21	23.21	23.21	1.11	22.15	7.02
Доходность FCF, %					-0.4498	-2.33	-1.8					-1.5266	58.76

	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	Industry average	5 quarters average	CAGR 5
ROE, %								4.12	2.31	5.63	4.1	4.02	1.3	5.68	4.74	5.71	3.4		4.48	4.17	21.20
ROA, %								2.78	1.52	3.51	2.58	2.53	0.8066	3.44	2.82	3.36	1.99		2.62	2.48	19.80
ROIC, %								3.82	2.18	4.89	5.91	3.48	1.15	4.87	7.38	4.65	2.87			4.18	20.07
ROS, %									21.26	31.04	20.45	20.89	8.7	24.49	20.03	24.07	18.86	20.53	-1.17	21.60	-3.47
ROCE, %				2.19	1.24	4.68	4.23	4.67	2.75									9.35	0.00	5.14	14.85
Ebit margin, %																		12.76		12.76	0.00
Рентаб EBITDA, %	13.7	14.85	14.41	20.99	9.31	33.02	28.77	29.58	23.97									14.88	7.77	26.04	-14.74
Чистая рентаб, %								25.44	21.26	31.04	20.45	20.89	8.7	24.49	20.03	24.07	18.86		-1.17	19.23	16.74
Operation Margin, %									25.32	28.39	23.01	17.43	10.77	26.37	23.34	27.19	24.43	23.21	1.11	24.91	-2.52
Доходность FCF, %				-0.0459				-1.42				-0.5289								-0.6649	125.87

Coefficients

IFRS

Reporting Annual Quarterly

	2017	2018	2019	2020	2021	2022	2023	2024	2025	LTM	Industry average	5 year average	CAGR 5
P/E					207.75	46.93	47.98	38.05		38.05	132.25	85.18	-34.58
P/BV					11.49	5.68	6.76	5.72		5.72	5.22	7.41	-16.00
P/S					34.13	10.92	11.23	7.81		7.81	14.22	16.02	-30.84
P/FCF					-222.34	-42.9	-55.63	-58.9	75.7	75.7	205.37	-60.8140	-180.61
E/P					0.0048	0.0163	0.0198	0.0187	0.0237	0.0237	0.01	0.0167	37.63
EV/EBIT			-2.21	0.1948	177.77	42.36		42.35	42.35	42.35		61.00	193.40
EV/EBITDA		-0.2809	-2.06	0.1887	170.22	36.33	52.53			36.33	12.74	51.44	-291.12
EV/S			-0.4534	0.028	32.17	10.57	10.58	7.81	5.4	5.4	17.15	13.31	-30.02
EV/FCF			-5.49	-0.0636	-209.62	-31.82		-36.78	47.27	47.27	190.99	-46.2027	-475.17
Debt/EBITDA		0.5876	0.5816	2	0.7765	0.6631	0.663	0.663	1.19	1.19	1.60	0.7911	8.91
Netdebt/Ebitda	-0.6705	-0.2809	-2.06	0.1887	-10.29	-1.21	-1.21	-1.21	-1.96	-1.96	-0.27	-3.1760	-28.23
Debt/Ratio			0.0741	0.1625	0.0375	0.0678	0.0517	0.082	0.082	0.082	0.10	0.0642	16.94
Debt/Equity			0.1168	0.2856	0.0494	0.1003	0.0781	0.1297	0.5822	0.1297	0.91	0.1879	63.78
Debt/Net Income			0.7188	1.52	0.8935	0.8289	0.5541	0.8622	0.8622	0.8622	13.65	0.8002	-0.71
PEG									22.31	22.31		22.31	0.00
Бета							0.4678	1.24	0.443	0.443	-0.16	0.7169	-1.80
Индекс Альтмана							3.89	2.82	3.14	3.14	6.94	3.28	-6.89

	2020Q4	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	Industry average	5 quarters average	CAGR 5
P/E								155.9	48.39	55.24	48.86	47.85	43.65	38.19	35.65	37.9	33.98		132.25	37.87	-4.89
P/BV								6.42	6.86	8.24	7.15	6.76	5.68	5.14	4.95	5.72	5.59		5.22	5.42	-0.32
P/S								39.65	12.28	14.21	12.07	11.21	8.95	7.46	6.94	7.78	7.47		14.22	7.72	-3.55
P/FCF				-2178.48				-70.52				-189.08						75.7	205.37	-590.5950	-143.18
E/P				0.0021				0.0064				0.0048						0.0237	0.01	0.0092	83.29
EV/EBIT																		42.35		42.35	0.00
EV/EBITDA					134.89	88.27	71.38	130.23	41.48										12.74	93.25	-21.01
EV/S								38.52										5.4	17.15	21.96	-62.56
EV/FCF								-68.5										47.27	190.99	-10.6150	-183.07
Debt/EBITDA					7.05	0.8187	2.05	2.06	3.7									1.19	1.60	1.96	7.77
Netdebt/Ebitda	0.3339	1.08	1.08	-28.16	-60.46	-7.28	-6.62	-3.81	-7.28									-1.96	-0.27	-5.3900	-23.08
Debt/Ratio									0.0635	0.0611	0.0657	0.0517	0.0659	0.0721	0.0774	0.082	0.0748	0.082	0.10	0.0777	2.61
Debt/Equity									0.0964	0.0939	0.0971	0.0781	0.1008	0.1166	0.1226	0.1297	0.117	0.5822	0.91	0.2136	37.94
Debt/Net Income									4.17	1.78	2.56	2.12	8.33	2.19	2.79	2.52	3.84	0.8622	13.65	2.44	-17.01
PEG																		22.31		22.31	0.00
Бета																	-0.198	0.443	-0.16	0.1225	-249.58
Индекс Альтмана																	2.82	3.14	6.94	2.98	5.52

Dividends

IFRS

Reporting Annual Quarterly

	2017	2018	2019	2020	2021	2022	2023	2024	2025	LTM	Industry average	5 year average	CAGR 5
Див.выплата, млрд	0.0018	0.0026	0.0076	0.0064	0.0113	0.1798	0.2983			0.0141		0.1007	108.34
Дивиденд							0.372	0.6264		0.6264		0.4992	29.76
Див доход, ао, %							0.3615	1.12		1.12	0.18	0.7408	76.02
Дивиденды / прибыль, %	16.35	2.85	5.64	3.27	4.26	1.69	19.74	25.87		25.87	169.50	10.97	51.23
Dividend Coverage Ratio									81.79	81.79		81.79	0.00

	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	Industry average	5 quarters average	CAGR 5
Див.выплата, млрд	0.0041	0.0047	0.0047	0.1659	0.0045	0.0039	0.0067	0.2801	0.0076	0.013			0.0623	27.23
Дивиденд				0.372									0.3720	0.00
Див доход, ао, %				0.3504								0.18	0.3504	0.00
Дивиденды / прибыль, %	1.78	3.56	1.52	71.14	1.9	4.9	1.85	88.91	1.93	5.27		169.50	20.57	1.47
Dividend Coverage Ratio											81.79		81.79	0.00

	Industry average	5 quarters average	CAGR 5

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Other

IFRS

Reporting Annual Quarterly

	2020	2021	2022	2023	2024	LTM	CAGR 5
CAPEX/Выручка, %	35.28	3.68	23.86	10.25	10.21	10.21	-21.96
Персонал, чел				869	1 578		34.75

	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	CAGR 5
CAPEX/Выручка, %	8.99	13.59	11.13	6.98	9.87	1.89

	CAGR 5