ACM Research, Inc.'s primary operating subsidiary, ACM Research (Shanghai), approved a proposed dividend of RMB 0.372 per share for a total of about RMB 161.28 million or $22.2 million during its 2023 Annual Stockholder Meeting. The payment, expected by end of 2023, might or might not be paid and the net amount and timing of proceeds to be repatriated to the US are uncertain. The net proceeds will be used for working capital and general corporate purposes.