Hong Kong–based Triata Capital boosted its position in ACM Research by adding 413,000 shares during the third quarter, taking its total holding to 2.0 million shares valued at approximately $78.4 million at quarter end. This purchase accounted for 9.15% of Triata’s reported U.S. equity holdings, making ACM Research its fourth-largest position among 15 reportable stakes. Triata’s total U.S. equity portfolio stood at $856.8 million as of September 30, with top exposures concentrated in China-linked technology and infrastructure names, underscoring a strategic bet on domestic semiconductor buildout rather than global consumer electronics cycles.

In the third quarter, ACM Research reported revenue of $269 million, up 32% year over year, driven by strong demand for single-wafer cleaning systems, electrochemical plating tools and advanced packaging solutions. Operating income reached nearly $29 million, while gross margin contracted to 42% from over 50% a year earlier due to product mix shifts and costs associated with capacity expansion. The company closed the quarter with $1.1 billion in cash and deposits on the balance sheet, following a $623 million fundraising by its Shanghai subsidiary on the STAR Market.

ACM Research will release its preliminary full-year 2025 revenue range and provide its initial revenue outlook for 2026 before U.S. markets open on January 22, 2026. The company also plans to participate virtually in the 28th Annual Needham Growth Conference with one-on-one investor meetings on January 15. This guidance announcement will be a key catalyst for investors seeking clarity on order momentum and visibility into the chip equipment cycle as the company leverages its diversified process portfolio across cleaning, electroplating, polishing, and panel-level packaging tools.