ACM Research, Inc.


Analyst J Capital Research published a report concerning ACM Research, Inc. (NASDAQ: ACMR) in which J Capital concluded that ACM Research “is a fraud, over-reporting both revenue and profit.” The report is based in part on J Capital’s visits to “sites in China, Korea, and California” and “more than 40 interviews.” J Capital found that “[w]hat real profit the company has is apparently being siphoned off to related parties.” The J Capital report concluded that ACM Research’s revenue was overstated by15-20%, and explained that J Capital has “evidence that undisclosed related parties are diverting revenue and profit from the company.” This news stunned the market, causing ACM Research shares to plummet in intraday trading.

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