ACM Research

As a manufacturer of cleaning equipment for semiconductor wafers, ACM Research (NASDAQ:ACMR) is a "picks-and-shovels" play in the semiconductor industry. Investing in ACM Research provides exposure to a high-growth industry without exposure to the risk of commodity chip prices declining.

Additionally, ACM is an American company that conducts most of its business in China, giving investors a relatively safe investing method for gaining exposure to the Chinese market. ACM is one of the rare small-cap companies that offers both high growth potential and solid profitability.