ACM Research's Shanghai unit reports backlog up 88.2% to RMB 17.1 billion
ACM Research says ACM Shanghai will report full nine-month results on October 28, 2026, with preliminary figures from the parent company due the same day before the market open
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ACM Research says its operating subsidiary, ACM Research (Shanghai), had total backlog of RMB 17.1 billion ($2.5 billion) as of September 29, 2026. That is 88.2% higher than the figure disclosed a year earlier.
The pace of growth is unusual for the company. A year ago, ACM Shanghai's backlog stood at RMB 9,071.5 million, up 34.1% from the prior year, according to an ACM Research filing with the SEC. Before that, growth had been slower still: backlog was roughly flat between September 2023 and September 2024, and rose 46.3% between September 2022 and September 2023, the filings show.
The size of the jump points to orders arriving faster than ACM Research is converting them into revenue, at a time when capital spending by Chinese chipmakers has been the main driver of the company's growth. An increase of this scale suggests customers are still committing to multi-year equipment deployments rather than pulling back over trade restrictions. The October 28 results will show how much of that backlog has already turned into shipped and recognized revenue, which is what investors need to judge whether the order book is converting into cash or simply building up.