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Investments in Privately-held Companies (Tables) | 12 Months Ended
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Dec. 31, 2018
Investments in Privately-held Companies |
Summary of investments | Our direct investments are summarized below (in thousands):
|  | Investment Balance as of |  |  |  |  |
|  | December 31, |  | 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. |  | $ | 1,416 |  | $ | 1,473 |  | Equity |  | 46 | %
Xilingol Tongli Germanium Co. Ltd. |  |  | 1,700 |  |  | 3,190 |  | Equity |  | 25 | %
Emeishan Jia Mei High Purity Metals Co., Ltd. |  |  | 842 |  |  | 915 |  | Equity |  | 25 | %
|  | $ | 3,958 |  | $ | 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 years ended December 31, 2018, 2017 and 2016, respectively:
|  |  |  |  |  |  |  |  |  | Our share for the |
|  |  | Year Ended |  | Year Ended |
|  |  | December 31, |  | December 31, |
|  | 2018 |  | 2017 | 2016 |  | 2018 |  | 2017 |  | 2016 |
Net revenue |  | $ | 33,212 |  | $ | 24,053 | $ | 23,266 |  | $ | 8,549 |  | $ | 6,152 |  | $ | 6,124 |
Gross profit (loss) |  |  | 6,457 |  |  | 1,739 |  | (2,191) |  |  | 1,675 |  |  | 482 |  |  | (511) |
Operating (loss) |  |  | (3,152) |  |  | (3,676) |  | (6,869) |  |  | (778) |  |  | (938) |  |  | (1,724) |
Net (loss) |  |  | (4,750) |  |  | (4,798) |  | (7,428) |  |  | (1,080) |  |  | (1,381) |  |  | (1,891) |
Summarized balance sheet information | Excluding one fully impaired entity, these minority investment entities that are not consolidated, but rather are accounted for under the equity method, had the following summarized balance sheet information (in thousands) as of December 31, 2018 and 2017, respectively:
|  | As of December 31, |
|  | 2018 |  | 2017 |
Current assets |  | $ | 31,525 |  | $ | 33,415 |
Noncurrent assets |  |  | 26,889 |  |  | 28,964 |
Current liabilities |  |  | 24,670 |  |  | 27,274 |
Noncurrent liabilities |  |  | 112 |  |  | 180 |

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