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  "documentTitle": "ACM Research, Inc. (ACMR)",
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      "text": "The strategic imperative of WFE self-sufficiency (ie, sourcing chipmaking equipment from domestic rather than foreign suppliers) ensures that ACMR will continue to take share from U.S. and Japanese suppliers.",
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      "text": "The Biden Administration has spearheaded a campaign to cut off capital equipment sales to China in an effort to slow the country's progress in making leading edge chips. In response, China has focused on building out its own WFE sector...",
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      "text": "The Little Company That Could. As exciting as ACMR's future prospects are, its journey thus far is an equally inspiring story. Founded by CEO David Wang twenty-six years ago and run by him and his brother Jian who manages ACMS out of China, ACMR has grown revenue from less than $30 million in 2016 to $730 million over the last twelve months ended September 30, 2024.",
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      "text": "China's All-In Bet on Its Homegrown Semiconductor Sector. The opportunity ahead for ACMR is staggering. Chinese brands account for 35% of global chip demand, yet Chinese companies produce only 7% of global chip supply, according to a 2023 Goldman report.",
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      "text": "I. Investment Highlights",
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