AXT subsidiary receives China export permits for indium phosphide; expects millions in Q3 revenue

AXT INC

Beijing Tongmei Xtal Technology received export permits from China's Ministry of Commerce to resume shipping indium phosphide substrates.
AXT expects several million dollars in revenue from these shipments not included in its Q3 2025 forecast (July 31, 2025).
Export controls on indium were imposed by China on Feb 4, 2025, previously restricting shipments.
Tongmei is a wholly owned subsidiary of AXT, manufacturing InP, GaAs, and Ge substrates.

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