Tongmei Receives Initial Export Permits from China’s Central Ministry of Commerce for Gallium Arsenide and Germanium Substrates
21 9월 2023 - 5:05AM
AXT, Inc. (Nasdaq: AXTI), a leading manufacturer of compound
semiconductor substrates, today announced that Beijing Tongmei Xtal
Technology Co., Ltd. (“Tongmei”), AXT’s subsidiary in Beijing,
China, has met the applicable legal and commercial requirements and
has received its initial export permits to resume shipping gallium
arsenide and germanium substrates to certain customers.
Since China’s announcement of new export control
regulations on gallium and germanium materials on July 3, 2023 and
the subsequent implementation of those regulations on August 1,
2023, Tongmei has been working diligently with the appropriate
Chinese authorities to ensure it understands and abides by all
rules and regulations set out in the new gallium and germanium
export controls.
Tongmei continues to work with the appropriate
Chinese authorities to obtain the necessary permits for additional
customers so that it can resume shipping gallium arsenide and
germanium substrates to those customers in compliance with all
export control regulations.
About AXT, Inc.
AXT is a material science company that develops and manufactures
high-performance compound and single element semiconductor
substrates comprising indium phosphide (InP), gallium arsenide
(GaAs) and germanium (Ge). In addition, as part of its supply chain
strategy, the company has partial ownership in more than ten
companies in China producing raw materials and consumables for its
manufacturing process. For more information, see AXT’s website at
http://www.axt.com.
Safe Harbor Statement
The foregoing paragraphs contain forward-looking statements
within the meaning of the Federal securities laws, including, for
example, statements regarding the resumption of shipping gallium
arsenide and germanium substrates to certain customers and
Tongmei’s efforts to obtain from the appropriate Chinese
authorities the necessary permits for additional customers so that
it can resume shipping gallium arsenide and germanium substrates to
those customers. These forward-looking statements are based upon
assumptions that are subject to uncertainties and factors relating
to the company’s operations and business environment, which could
cause actual results to differ materially from those expressed or
implied in the forward-looking statements contained in the
foregoing discussion. These uncertainties and factors include, but
are not limited to, the administrative challenges in applying for
and obtaining the necessary permits. Additional uncertainties and
factors include, but are not limited to, other factors as set forth
in the company’s Annual Report on Form 10-K, quarterly reports on
Form 10-Q and other filings made with the Securities and Exchange
Commission. Each of these factors is difficult to predict and many
are beyond the company’s control. The company does not undertake
any obligation to update any forward-looking statement, as a result
of new information, future events or otherwise.
Contacts: |
|
Gary
Fischer |
|
Chief Financial Officer |
|
(510) 438-4700 |
|
|
|
Leslie Green |
|
Green Communications Consulting, LLC |
|
(650) 312-9060 |
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