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AXT Inc. (symbol: AXTI) is a leading material science company specializing in the development and manufacturing of high-performance compound and single-element semiconductor substrates, commonly referred to as wafers. These substrates are essential components in the production of semiconductor chips and other electronic circuits. The company’s core products include gallium arsenide (GaAs), indium phosphide (InP), and germanium (Ge) substrates, which are used in various applications such as 5G infrastructure, data center connectivity, LED lighting, lasers, sensors, power amplifiers for wireless devices, and satellite solar cells.
Headquartered in Fremont, California, AXT Inc. manages its sales, administration, and customer service operations from this location. The company’s manufacturing facilities are strategically located in Beijing, China, which helps in optimizing production and distribution efficiencies. AXT Inc. also boasts a global business presence, with significant revenue contributions from regions including China, Europe, Japan, Taiwan, North America, and the Asia Pacific.
AXT Inc. prides itself on its comprehensive supply chain strategy. The company has partial ownership in more than ten companies in China that produce raw materials and consumables required for its manufacturing processes. This strategic investment ensures a stable and cost-effective supply of essential materials.
Recent achievements include a notable growth in revenue, with a reported 11% quarter-to-quarter increase and a remarkable 48% rise in indium phosphide revenue. The company has also been focusing on developing larger diameter substrates to cater to the demand for next-generation devices in various markets, including data centers and consumer electronics.
Despite some challenges, such as inventory rationalization and the necessity of obtaining permits from Chinese authorities for shipping certain substrates, AXT Inc. remains optimistic about its growth prospects. The company continues to prioritize cost savings, efficiency, and profitability while navigating the current market environment.
For more detailed information and latest updates, visit AXT Inc.’s official website at www.axt.com.
AXT, Inc. (NasdaqGS: AXTI) reported a strong first quarter 2021 with revenue reaching $31.4 million, a 16% sequential growth from Q4 2020 and over 51% from Q1 2020. Gross margin improved to 36.8%, up from 33.9% in the previous quarter. Operating profit was $3.6 million, compared to $1.9 million in Q4 2020, while net income increased to $3.4 million, or $0.08 per share. Additionally, AXT is advancing its plan to list its Chinese subsidiary, Tongmei, on the STAR Market by mid-2022.
AXT, Inc. (NasdaqGS: AXTI) will release its first-quarter 2021 financial results on April 28, 2021, after market close. A conference call to discuss the results is scheduled for the same day at 1:30 p.m. PT, accessible at (844) 892-6598 (passcode 2989288) and via simulcast on their website. AXT specializes in manufacturing compound semiconductor substrates, vital for various technological applications including 5G infrastructure and LED lighting. Further investor details can be found on AXT's website.
AXT, Inc. (NasdaqGS: AXTI) reported a 15% revenue increase for fiscal year 2020, totaling $95.4 million. Q4 2020 revenue was $27.0 million, up from $18.4 million in Q4 2019. The net income for 2020 reached $3.2 million, compared to a net loss of $2.6 million in 2019. Gross margin improved to 32% for the fiscal year. AXT also announced that Tongmei, its wafer manufacturing subsidiary in China, secured $49 million in private equity funding, progressing towards an IPO on the STAR Market expected in mid-2022.
AXT, Inc. (NASDAQ: AXTI) will announce its fourth quarter 2020 and fiscal year 2020 financial results on February 18, 2021, after market close. A conference call will follow on the same day at 1:30 p.m. PT, accessible at (844) 892-6598 with passcode 5773028. The call will be streamed live on AXT's website, with replays available until February 24, 2021. AXT specializes in compound semiconductor substrates for various applications including 5G infrastructure and data centers.
AXT, Inc. (Nasdaq: AXTI), a leader in semiconductor substrates, announced that its CFO, Gary L. Fischer, will present at the 23rd Annual Needham Virtual Growth Conference on January 12, 2021, at 3:30 p.m. ET. The presentation will be available via webcast on the company's investor relations website, www.axt.com. AXT specializes in high-performance compound semiconductor substrates, serving markets like 5G infrastructure and data centers, with facilities in China and a focus on advanced materials.
AXT, Inc. announces significant progress toward a STAR Market IPO for its Chinese wafer manufacturing subsidiary, Tongmei. The second tranche of investment, amounting to $25 million from seven private equity firms, was largely completed in December 2020, with an additional $1.5 million expected to close this January, bringing total investments to approximately $49 million for a 7.28% minority interest. This strategic initiative is crucial for Tongmei's IPO aspirations in mid-2022, while AXT continues to operate as a U.S. public company listed on the Nasdaq under AXTI.
AXT, Inc. announces the completion of the first tranche of a $50 million private equity investment in its wafer manufacturing unit, Tongmei, totaling approximately $22.5 million. The investment is led by three funds within the Haitong Private Equity Group. This funding is part of AXT's strategy to prepare for an IPO on China's STAR Market, with the second tranche of $26.5 million anticipated in January 2021. AXT continues to operate as a publicly traded entity on Nasdaq under the symbol AXTI.
AXT, Inc. (NasdaqGS: AXTI) has successfully ramped up gallium arsenide substrate shipments to its major customer, OSRAM, from its new manufacturing facility in Dingxing, China. OSRAM began accepting shipments in March after qualifying the facility. CEO Morris Young emphasized the facility's design around modern manufacturing practices, enabling future capacity expansions. This relocation was prompted by local governmental changes in Beijing, and AXT has maintained a strong partnership with OSRAM to meet growing demands in various photonics applications.
AXT, Inc. has initiated steps to list its subsidiary, Tongmei, on China's STAR Market, merging two raw material companies into it. The company plans to secure approximately $50 million from private equity firms in exchange for a 7.14% minority stake. The first tranche of $22.5 million is expected by early December 2020, followed by a $26.5 million second tranche in January 2021. AXT will continue to operate under the Nasdaq symbol AXTI and maintain its Fremont, CA headquarters, aiming to enhance its capital structure and support future growth amidst expected strong demand in the semiconductor market.
AXT, Inc. (NasdaqGS: AXTI) reported Q3 2020 revenue of $25.5 million, a 28% year-over-year growth, surpassing previous earnings guidance. Key contributions came from sectors such as 5G telecommunications and data center connectivity. The gross margin increased to 34.6% from 30.6% in Q2 2020. Operating profit rose to $2.2 million, a significant improvement compared to the losses in Q3 2019. Net income was $1.0 million, or $0.02 per diluted share, compared to a net loss in the same quarter last year. A conference call will follow to elaborate on these results.
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