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            <relationshipsToIssuer>
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                <relationshipToIssuer>Director</relationshipToIssuer>
                <relationshipToIssuer>10% Stockholder</relationshipToIssuer>
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                <name>Morgan Stanley Smith Barney LLC Executive Financial Services</name>
                <address>
                    <ns2:street1>1 New York Plaza</ns2:street1>
                    <ns2:street2>8th Floor</ns2:street2>
                    <ns2:city>New York</ns2:city>
                    <ns2:stateOrCountry>NY</ns2:stateOrCountry>
                    <ns2:zipCode>10004</ns2:zipCode>
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            <noOfUnitsOutstanding>63864504</noOfUnitsOutstanding>
            <approxSaleDate>05/22/2025</approxSaleDate>
            <securitiesExchangeName>NASDAQ</securitiesExchangeName>
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            <acquiredDate>05/22/2025</acquiredDate>
            <natureOfAcquisitionTransaction>Stock Option Exercise</natureOfAcquisitionTransaction>
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            <isGiftTransaction>N</isGiftTransaction>
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            <paymentDate>05/22/2025</paymentDate>
            <natureOfPayment>Cash</natureOfPayment>
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                <address>
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                    <ns2:stateOrCountry>CA</ns2:stateOrCountry>
                    <ns2:zipCode>94539</ns2:zipCode>
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            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
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            <grossProceeds>1652140.00</grossProceeds>
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            <sellerDetails>
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                    <ns2:zipCode>94539</ns2:zipCode>
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            <saleDate>03/13/2025</saleDate>
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            <saleDate>03/12/2025</saleDate>
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            <grossProceeds>1028298.75</grossProceeds>
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        <securitiesSoldInPast3Months>
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                    <ns2:zipCode>94539</ns2:zipCode>
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            <grossProceeds>1494793.13</grossProceeds>
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        <noticeSignature>
            <noticeDate>05/22/2025</noticeDate>
            <planAdoptionDates>
                <planAdoptionDate>11/29/2024</planAdoptionDate>
            </planAdoptionDates>
            <signature>/s/ Hui Wang</signature>
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144
0001721580
XXXXXXXX
LIVE
0001680062
ACM RESEARCH, INC.
001-38273
42307 Osgood Road, Suite I
Fremont
CA
94539
(510) 445-3700
HUI WANG
Officer
Director
10% Stockholder
Common
Morgan Stanley Smith Barney LLC Executive Financial Services
1 New York Plaza
8th Floor
New York
NY
10004
60000
1357872.00
63864504
05/22/2025
NASDAQ
Common
05/22/2025
Stock Option Exercise
Issuer
N
60000
05/22/2025
Cash
N
HUI WANG
42307 Osgood Road, Suite I
Fremont
CA
94539
Common
05/21/2025
70000
1652140.00
HUI WANG
42307 Osgood Road, Suite I
Fremont
CA
94539
Common
03/13/2025
37500
1023888.75
HUI WANG
42307 Osgood Road, Suite I
Fremont
CA
94539
Common
03/12/2025
37500
1028298.75
HUI WANG
42307 Osgood Road, Suite I
Fremont
CA
94539
Common
03/11/2025
56250
1494793.13
05/22/2025
11/29/2024
/s/ Hui Wang