ACM Research appoints Armanino – GuruFocus.com
FREMONT, Calif., May 19, 2022 (GLOBE NEWSWIRE) — ACM Research, Inc. (ACM) (ACMR), a leading provider of wafer processing solutions for semiconductors and advanced wafer-level packaging applications, today announced that Armanino LLP (Armanino) has been appointed independent accounting firm of ACM to audit ACM’s consolidated financial statements for the year ended December 31, 2022.
ACM’s engagement of Armanino as an independent auditor for 2022 complements ACM’s previously announced process to identify and appoint an independent accounting firm subject to inspection by the Public Company Accounting Oversight Board (PCAOB) , to enable ACM to comply with the provisions of the U.S. Holding Foreign Corporate Accountability Act of 2020 (HFCAA). ACM expects that upon publication of the consolidated financial statements for the year ended December 31, 2022 which have been audited by Armanino, ACM will no longer appear on the “Conclusive List of Issuers Identified Under the HFCAA” of the SEC and is no longer subject to the related delisting guidelines of the HFCAA.
ACM will ask its shareholders to ratify Armanino’s appointment as independent auditor for 2022 at ACM’s annual meeting of shareholders to be held on June 30, 2022.
About ACM Research, Inc.
ACM develops, manufactures and sells semiconductor processing equipment for wet or batch cleaning, electroplating, stressless polishing and thermal processes, which are essential for advanced manufacturing of semiconductor devices and packaging at the wafer level. ACM is committed to providing customized, high-performance, and cost-effective process solutions that semiconductor manufacturers can use across many manufacturing stages to improve productivity and product yield. For more information, visit www.acmrcsh.com.
About Armanino LLP
Armanino is one of the top 20 independent accounting and consulting firms in the United States. Armanino provides an integrated set of audit, tax, business management, consulting and technology solutions to businesses in the United States and around the world. The firm helps clients adapt and change at every stage of the business, from start-up to rapid growth to the sale of a business. Armanino is focused on smart technology, leading a cloud revolution of financial, operational, sales and compliance tools that are transforming the way companies do business. Armanino is an independent member firm of Moore North America Inc. (MNA), which is itself a regional member of Moore Global Network Limited (MGNL), one of the world’s leading accounting and advisory organizations. All businesses associated with MNA and MGNL are independent entities, owned and operated in each location. Their membership or association with MNA or MGNL should not be construed as constituting or implying a partnership between them. In addition to its core consulting and accounting practices, Armanino operates its division, AMF Media Group (www.amfmediagroup.com), a media and communications services agency. Its affiliate, Intersect Capital (www.intersectcapitalllc.com) is an independent financial planning, wealth management and lifestyle firm.
© ACM Research, Inc. The ACM Research logo is a registered trademark of ACM Research, Inc. For convenience, this mark appears in this press release without the ™ symbol, but this practice does not mean that ACM does not assert, to the fullest extent under applicable law, its rights in this mark.
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