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Investments in Privately-Held Companies (Tables)

9 Months Ended

Sep. 30, 2018

Investments in Privately-Held Companies

Summary of investments

The six direct investments are summarized below (in thousands):

		Investment Balance as of
		September 30,			December 31,			Accounting		Ownership
Company		2018			2017			Method		Percentage
Beijing JiYa Semiconductor Material Co., Ltd.		$	3,331		$	3,331		Consolidated		46	%
Nanjing JinMei Gallium Co., Ltd.			592			592		Consolidated		97	%
Beijing BoYu Semiconductor Vessel Craftwork Technology Co., Ltd.			1,346			1,346		Consolidated		63	%
		$	5,269		$	5,269
Donghai County Dongfang High Purity Electronic Materials Co., Ltd.		$	1,450		$	1,473		Equity		46	%
Xilingol Tongli Germanium Co. Ltd.			2,811			3,190		Equity		25	%
Emeishan Jia Mei High Purity Metals Co., Ltd.			870			915		Equity		25	%
		$	5,131		$	5,578

Summarized equity method income information

AXT’s three direct minority investment entities and the three minority investments of JiYa and the one minority investment of JinMei are not consolidated and are accounted for under the equity method. Excluding one fully impaired entity, the equity entities had the following summarized income information (in thousands) for the three and nine months ended September 30, 2018 and 2017.

		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2018			2017			2018			2017
Net revenue		$	8,017		$	4,209		$	24,366		$	15,571
Gross profit		$	2,141		$	177		$	5,477		$	976
Operating income (loss)		$	631		$	(1,054)		$	767		$	(2,685)
Net income (loss)		$	315		$	(1,130)		$	(422)		$	(3,653)

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Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information.

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