ACM Research (Shanghai), Inc. (stock code: 688082, short name: ACMSH) recently held an investor relations performance briefing on March 7, 2024. The company's leaders provided insights into the company's 2023 annual performance and financial position. They addressed various investor concerns, shedding light on key aspects of the company's operations and future prospects.
One significant revelation was the company's revenue guidance for 2024, set at RMB 5-5.8 billion. This represents a notable metric to watch, as it signals the potential growth trajectory for the company. Furthermore, the company anticipates a strong performance in 2024, with the growth rate of shipments expected to surpass the growth rate of revenue, attributed to customers postponing deliveries from the previous year to the current year.
In terms of revenue drivers, the company highlighted the influence of various factors including advancements in manufacturing processes, developments in the storage and logic sectors, and positive market outlook for China’s semiconductor equipment market in 2024. Notably, the company expects a significant contribution to its 2024 revenue from the launch of new products and expansion into overseas markets.
Additionally, the company expressed optimism regarding the gross margin trend in 2024, particularly with expectations of a higher contribution from ECP equipment to the total sales mix. This is expected to positively impact the gross margin, with the company expressing a strong belief in sustaining this trend.
Moreover, the company shared insights into its revenue recognition processes, highlighting differences between the A-shares market and ACMR in the US stock market from a financial reporting perspective. This provides a glimpse into the company's financial operations across different markets.
The company also addressed its R&D investments, indicating an increase in the proportion of R&D investments in 2023 compared to the previous year, with expectations for subsequent R&D expenses to be approximately 15%-16%.
Furthermore, the company discussed its product lineup, highlighting the addition of new products such as track and PECVD equipment. It also provided insights into the product structure of its 2024 revenue, with cleaning equipment expected to remain the primary source of revenue, followed by copper plating equipment and furnace tube equipment.
As a result of these announcements, the company's shares have moved 4.1% on the market, and are now trading at a price of $30.43. If you want to know more, read the company's complete 8-K report here.
