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Investments in Privately-held Companies (Tables)

12 Months Ended

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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