-- ACM Research Shanghai (SHA:688082) reported a 58% drop in attributable profit for the first quarter of 2026 to 104.3 million yuan from 246.3 million yuan a year prior.
Earnings per share slumped to 0.21 yuan from 0.56 yuan, according to a Tuesday filing with the Shanghai Stock Exchange.
The semiconductor device manufacturer attributed the drop to exchange rate fluctuations and the development of new products and equipment upgrades that led to higher R&D expenses.
Revenue, however, climbed 13% year over year to 1.48 billion yuan from 1.31 billion yuan.
ACM Research's shares were down 11% in recent trade.