The prospective is determined by a review that is timely enrollment by the Asia Securities Regulatory Commission
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ACM analysis Provides Updates on CELEBRITY Market IPO of ACM analysis (Shanghai)
FREMONT, Calif., Dec. 15, 2020 (GLOBE NEWSWIRE) — ACM Research, Inc. (вЂњACMвЂќ) (NASDAQ:ACMR), a respected supplier of wafer cleaning technologies for higher level semiconductor products, today offered updates in the status regarding the proposed initial general general public offering (вЂњSTAR Market IPOвЂќ) and set of stocks of ACMвЂ™s running subsidiary ACM analysis (Shanghai), Inc. (вЂњACM ShanghaiвЂќ) regarding the CELEBRITY marketplace associated with the Shanghai stock market. ACM announced that the Shanghai Securities and Exchange Commission (вЂњSSECвЂќ) has completed its overview of the Verification Report of ACMвЂ™s self-inspection (вЂњVerification ReportвЂќ) as served by the underwriter that is lead of CELEBRITY marketplace IPO. The Verification Report is a reply towards the allegations regarding ACMвЂ™s company and operations found in a study released on October 8, 2020 by J Capital analysis USA LLC. The SSEC posted the Verification Report on its letter December 15 in its initial form that is chinese-language.
ACM has later furnished an English translation of this Verification Report being a exhibit to A report that is current on 8-K filed with all the U.S. Securities and Exchange Commission on December 15, 2020.
The shape 8-K may be accessed on ACM’s investor relations site at or perhaps the U.S. Securities and Exchange Commission’s web site at www.sec.gov.ACMвЂ™s President and Chief Executive Officer Dr. David Wang commented, вЂњAs noted within our 3rd quarter profits seminar call, ACM ShanghaiвЂ™s CELEBRITY marketplace IPO group, including its investment bank, appropriate group, and auditing team, contributed into the Verification Report, which sets forth a point-by-point post on most of the allegations. We have been motivated by the conclusion of this SSECвЂ™s overview of the Verification Report, which refutes the assertions and conclusions of that which we give consideration to to be an erroneous and biased report.вЂќACM is continuing ahead utilizing the enrollment procedure utilizing the Asia Securities Regulatory Commission. As a result of review that is additional necessary for the report released by J Capital analysis United States Of America LLC along with other facets, the business presently targets completion associated with CELEBRITY marketplace IPO and set of stocks of ACM Shanghai in the 1st quarter of 2021. The goal depends upon a review that is timely enrollment because of the China Securities Regulatory Commission, and it is at the mercy of market conditions as well as other factors.About ACM analysis, Inc.ACM develops, manufactures and offers semiconductor procedure equipment for single-wafer or batch wet cleansing, electroplating, stress-free polishing and thermal procedures being critical to advanced level semiconductor unit production, along with wafer-level packaging. The organization is devoted to delivering personalized, high end, economical process solutions that semiconductor manufacturers may use in several production actions to boost efficiency and item yield.Forward-Looking StatementsThe statements into the 4th paragraph of the news release with regards to the conclusion and timing of ACM ShanghaiвЂ™s IPO and set of shares from the CELEBRITY Market aren’t historical facts and represent forward-looking statements inside the meaning for the Private Securities Litigation Reform Act of 1995. Those statements, that are objectives just, mirror administration’s present views, are derived from particular presumptions, and risks that are involve uncertainties.
ACM Shanghai is almost certainly not in a position to complete its CELEBRITY marketplace IPO and listing for a true amount of reasons, some of which are outside ACM ShanghaiвЂ™s control and any one of that could be exacerbated even more by the continuing COVID-19 pandemic in Asia and globally. Among other facets, ACM Shanghai must get Chinese governmental approvals expected to let the CELEBRITY Market IPO and listing, a number of of which approvals might be denied, or somewhat delayed, because of the regulators for reasons outside of, or unknown to, ACM Shanghai. Likewise, the CELEBRITY Market application that is listing be rejected or delayed by the Asia Securities Regulatory Commission with its discernment. ACM undertakes no responsibility to publicly upgrade these forward-looking statements to mirror activities or circumstances that occur following the date hereof or even to reflect any improvement in regard to these forward-looking statements to its expectations or the incident of unanticipated occasions. ACM Analysis, Inc. The ACM analysis logo design is a trademark of ACM analysis, Inc. For convenience, this trademark seems in this news release without having a icon, but that training doesn’t mean that ACM analysis will maybe not assert, towards the fullest level under applicable legislation, its legal rights to such trademark