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Bank Loans and Line of Credit
 12 Months Ended
Dec. 31, 2023
Bank Loans and Line of Credit  
Bank Loans and Line of Credit

Note 8. Bank Loans and Line of Credit

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

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​

​

​

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Loan

Interest

​

​

​

​

​

December 31, 

​

December 31, 

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

​

-

​

1,795

​

​

​

2,184

2.8

%  

March-23

​

March-24

​

-

​

2,118

​

​

​

376

2.7

%  

September-23

​

September-24

​

-

​

386

​

​

​

876

3.5

%  

November-23

​

November-24

​

-

​

876

​

​

​

1,003

3.5

%  

November-23

​

November-24

​

-

​

1,003

​

Bank of China (3)

​

2,911

3.5

%  

January-23

​

January-24

​

-

​

2,825

​

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

​

-

​

​

​

1,455

3.3

%  

January-23

​

January-24

​

-

​

1,414

​

​

​

1,380

3.8

%  

May-23

​

May-24

​

-

​

1,414

​

​

​

1,373

3.8

%  

July-23

​

May-24

​

-

​

1,414

​

China Merchants Bank (5)

​

4,367

3.7

%  

January-23

​

January-24

​

-

​

4,235

​

Bank of Beijing (4)

​

3,192

4.2

%  

May-22

​

May-23

​

3,292

​

-

​

​

​

2,290

4.2

%  

January-23

​

January-24

​

-

​

2,220

​

​

​

3,541

3.2

%  

June-23

​

May-24

​

-

​

3,626

​

​

​

1,380

3.2

%  

June-23

​

February-24

​

-

​

1,414

​

​

​

1,414

3.0

%  

December-23

​

December-24

​

-

​

1,414

​

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

4.3

%  

June-23

​

June-24

​

-

​

2,825

​

​

​

2,744

4.3

%  

July-23

​

July-24

​

-

​

2,825

​

​

​

2,744

4.3

%  

September-23

​

September-24

​

-

​

2,825

​

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

​

-

​

​

​

1,406

4.5

%  

November-22

​

November-23

​

1,450

​

-

​

​

​

2,900

4.5

%  

December-22

​

December-23

​

2,900

​

-

​

​

​

2,744

4.2

%  

August-23

​

September-24

​

-

​

2,820

​

​

​

1,271

4.3

%  

November-23

​

November-24

​

-

​

1,271

​

​

​

2,825

4.3

%  

December-23

​

December-24

​

-

​

2,825

​

Industrial and Commercial Bank of China (5)

​

5,621

3.2

%  

September-22

​

July-23

​

5,800

​

-

​

​

​

2,744

3.3

%  

September-23

​

September-24

​

-

​

2,825

​

NanJing Bank (5)

​

2,811

4.3

%  

September-22

​

September-23

​

2,899

​

-

​

​

​

1,265

4.3

%  

November-22

​

November-23

​

1,305

​

-

​

​

​

2,752

3.8

%  

October-23

​

October-24

​

-

​

2,752

BoYu

Industrial and Commercial Bank of China (6)

​

1,450

2.8

%  

December-22

​

December-23

​

1,450

​

-

​

​

​

1,414

2.7

%  

December-23

​

December-24

​

-

​

1,414

​

Bank of China (5)

​

1,204

2.4

%  

January-23

​

January-24

​

-

​

849

​

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

​

-

​

​

​

1,414

3.3

%  

November-23

​

May-24

​

-

​

1,414

​

Industrial Bank (5)

​

688

3.6

%  

September-23

​

September-24

​

-

​

708

​

Bank of Communications (5)

​

1,414

3.0

%  

November-23

​

May-24

​

-

​

1,414

​

Loan Balance

​

​

​

​

​

​

​

$

47,078

$

52,921

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. In addition, the December 2023 loan attracts a guarantee fee amounting to 0.7% of the loan amount.