XML 66 R32.htm IDEA: XBRL DOCUMENT v3.22.0.1

Investments in Privately-Held Raw Material Companies (Tables)

12 Months Ended

Dec. 31, 2021

Investments in Privately-Held Raw Material Companies

Summary of investments

The investments are summarized below (in thousands):

​	​	​	​	​	​	​	​	​	​	​	​
​	​	Investment Balance as of					​	​	​	​	​
​	​	December 31,		​	December 31,		​	Accounting	​	Ownership	*
Company		2021			2020			Method		Percentage	​
Nanjing JinMei Gallium Co., Ltd.	​	$	592	​	$	592		Consolidated		**85.5	%
ChaoYang JinMei Gallium Co., Ltd.	​	​	1,820	​	​	1,820	​	Consolidated	​	**85.5	%
Beijing BoYu Semiconductor Vessel Craftwork Technology Co., Ltd.	​		1,346	​		1,346		Consolidated		**85.5	%
ChaoYang XinMei High Purity Semiconductor Materials Co., Ltd.	​	​	1,814	​	​	—	​	Consolidated		***58.5	%
​	​	$	5,572	​	$	3,758	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​
Donghai County Dongfang High Purity Electronic Materials Co., Ltd.	​	$	2,053	​	$	1,651		Equity		**46	%
Beijing JiYa Semiconductor Material Co., Ltd.	​	​	3,760	​	​	1,418	​	Equity	​	39	%
Xilingol Tongli Germanium Co., Ltd.	​		—	​		—		Equity		25	%
Xiaoyi XingAn Gallium Co., Ltd.	​	​	4,095	​	​	2,822	​	Equity	​	**25	%
Emeishan Jia Mei High Purity Metals Co., Ltd.	​		258	​		485		Equity		25	%
​	​	$	10,166	​	$	6,376	​	​	​	​	​

Summary of gain on deconsolidation

​

​	​	​	​
​	​	Amount
​		(in thousands)
Fair value of the consideration received	​	$	366
Fair value of the retained investment in Beijing JiYa Semiconductor Material Co., Ltd.	​	​	2,040
Carrying value of noncontrolling interests, net of accumulated other comprehensive income attributable to subsidiary	​	​	617
Derecognition of Beijing JiYa Semiconductor Material Co., Ltd.'s net asset	​	​	(2,848)
Gain recognized on deconsolidation of Beijing JiYa Semiconductor Material Co., Ltd.	​	$	175
​	​	​	​
​	​	​	​
​	​	Amount
​	​	(in thousands)
Fair value of the retained investment in Beijing JiYa Semiconductor Material Co., Ltd.	​	$	2,040
Carrying value of retained noncontrolling investment	​	​	(1,559)
Gain on retained noncontrolling investment due to remeasurement	​	$	481

Summarized equity method income information

AXT’s minority investment entities 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, 2021, 2020 and 2019, respectively:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Our share for the

​

​

​

​

Year Ended

​

Year Ended

​

​

​

​

December 31,

​

December 31,

​

2021

2020

​

2019

2021

2020

2019

Net revenue

​

​

$

35,939

​

$

20,049

​

$

18,991

​

$

11,424

​

$

6,252

​

$

5,458

​

Gross profit

​

​

17,465

​

4,907

​

2,013

​

5,482

​

1,504

​

558

​

Operating income

​

​

14,293

​

1,957

​

(2,266)

​

4,495

​

504

​

(700)

​

Net income (loss)

​

​

$

12,560

​

$

1,014

​

$

(3,000)

​

$

4,409

​

$

111

​

$

(1,876)

​

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, 2021 and 2020, respectively:

​	​	​	​	​	​	​	​
​	​	As of December 31,
​		2021		​	2020
Current assets	​	$	27,503		$	24,136	​
Noncurrent assets	​		11,707	​		11,339	​
Current liabilities	​		5,799	​		12,502	​
Noncurrent liabilities	​		—	​		—	​

X

- Definition

Tabular disclosure of balance sheet information of minority investment entities that are not consolidated and accounted under the equity method.

+ References

No definition available.

+ Details

Name:	axti_EquityMethodInvestmentSummarizedBalanceSheetInformationTableTextBlock
Namespace Prefix:	axti_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of investments.

+ References

No definition available.

+ Details

Name:	axti_InvestmentsTableTextBlock
Namespace Prefix:	axti_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of schedule of gain (loss) on deconsolidation of subsidiary.

+ References

No definition available.

+ Details

Name:	axti_ScheduleOfGainLossOnDeconsolidationOfSubsidiary
Namespace Prefix:	axti_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

+ Details

Name:	us-gaap_EquityMethodInvestmentsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration