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  "documentTitle": "ACM Research, Inc. (ACMR)",
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      "text": "The ACMR valuation makes no sense, and valuing ACMR’s stake at ACMS current trading levels would imply an ACMR share price of $73, representing 318% upside.",
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      "text": "its WFE national champion peers such as AMEC, Naura Technology, KINGSEMI, Piotech, and others. U.S.-listed ACMR, whose revenue-generating operations are derived almost entirely from its 82%-owned subsidiary ACMS, trades at 1.1x revenue.",
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      "text": "III. Riding the Chinese Semiconductor Wave",
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