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Bank Loans and Line of Credit
 6 Months Ended
Jun. 30, 2023
Bank Loans and Line of Credit  
Bank Loans and Line of Credit

Note 16. Bank Loans and Line of Credit

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Our bank loans and credit facilities typically have a term of 12 months or less and are included in “Bank loan” in our condensed consolidated balance sheets. The following table represents bank loans as of June 30, 2023 and December 31, 2022 (in thousands, except interest rate data):

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​

​

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​

​

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​

​

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Loan

Interest

​

​

​

​

​

December 31, 

​

June 30, 

Subsidiary

Bank

​

Detail

Rate

​

Start Date

​

Due Date

​

2022

​

2023

Tongmei

Bank of China (1)

$

2,108

2.7

%  

September-22

​

March-23

$

2,175

$

-

​

​

​

3,935

4.6

%  

January-22

​

January-23

​

4,059

​

-

​

​

​

1,405

4.2

%  

April-22

​

April-23

​

1,450

​

-

​

Bank of China (5)

​

1,848

3.5

%  

January-23

​

January-24

​

-

​

1,751

​

​

​

2,184

2.8

%  

March-23

​

March-24

​

-

​

2,067

​

Bank of China (3)

​

2,911

3.5

%  

January-23

​

January-24

​

-

​

2,757

​

Bank of Communications (2)

​

1,405

3.3

%  

January-22

​

January-23

​

1,450

​

-

​

​

​

1,405

3.3

%  

January-22

​

January-23

​

1,450

​

-

​

Bank of Communications (5)

​

1,450

3.3

%  

December-22

​

December-23

​

1,450

​

1,380

​

​

​

1,455

3.3

%  

January-23

​

January-24

​

-

​

1,380

​

​

​

1,380

3.8

%  

May-23

​

May-24

​

-

​

1,380

​

China Merchants Bank (5)

​

4,367

3.7

%  

January-23

​

January-24

​

-

​

4,134

​

Bank of Beijing (4)

​

3,192

4.2

%  

May-22

​

May-23

​

3,292

​

-

​

​

​

2,290

4.2

%  

January-23

​

January-24

​

-

​

2,168

​

​

​

3,541

3.2

%  

June-23

​

May-24

​

-

​

3,541

​

​

​

1,380

3.2

%  

June-23

​

February-24

​

-

​

1,380

​

Industrial Bank (5)

​

5,621

4.4

%  

June-22

​

June-23

​

5,798

​

-

​

​

​

2,811

4.4

%  

September-22

​

September-23

​

2,900

​

2,757

​

​

​

2,757

4.3

%  

June-23

​

June-24

​

-

​

2,757

​

NingBo Bank (5)

​

1,405

4.8

%  

June-22

​

June-23

​

1,450

​

-

​

​

​

1,405

4.8

%  

August-22

​

August-23

​

1,450

​

-

​

​

​

1,405

4.8

%  

September-22

​

September-23

​

1,450

​

1,380

​

​

​

1,406

4.5

%  

November-22

​

November-23

​

1,450

​

1,380

​

​

​

2,900

4.5

%  

December-22

​

December-23

​

2,900

​

2,757

​

​

​

1,382

4.5

%  

January-23

​

January-24

​

-

​

1,309

​

Industrial and Commercial Bank of China (5)

​

5,621

3.2

%  

September-22

​

July-23

​

5,800

​

2,757

​

NanJing Bank (5)

​

2,811

4.3

%  

September-22

​

September-23

​

2,899

​

2,757

​

​

​

1,265

4.3

%  

November-22

​

November-23

​

1,305

​

1,240

BoYu

Industrial and Commercial Bank of China (6)

​

1,450

2.8

%  

December-22

​

December-23

​

1,450

​

1,380

​

Bank of China (5)

​

1,204

2.4

%  

January-23

​

January-24

​

-

​

1,140

​

NingBo Bank (5)

​

703

4.8

%  

September-22

​

March-23

​

725

​

-

​

​

​

1,406

3.6

%  

November-22

​

May-23

​

1,450

​

-

​

​

​

725

4.8

%  

December-22

​

June-23

​

725

​

-

​

​

​

728

3.6

%  

March-23

​

September-23

​

-

​

690

​

​

​

690

3.7

%  

May-23

​

November-23

​

-

​

690

​

​

​

690

3.7

%  

June-23

​

December-23

​

-

​

690

​

Loan Balance

​

​

​

​

​

​

​

$

47,078

$

45,622

​

Collateral for the above bank loans and line of credit

(1)Baoding Tongmei’s land use rights and all of its buildings located at its facility in Dingxing, China.
(2)ChaoYang Tongmei’s land use rights and all of its buildings located at its facility in Kazuo, China.
(3)ChaoYang LiMei time deposit.
(4)AXT time deposit.
(5)Not collateralized.
(6)BoYu’s land use rights and its building located at its facility in Tianjin, China and BoYu’s accounts receivable.