AXT subsidiary signs $25.4M InP wafer supply deal with Casela for 2027

AXT INC

Tongmei, AXT's subsidiary, entered a Long-term Supply Agreement with Nanjing Casela Technologies for InP substrates.
Casela commits to purchase InP wafers totaling RMB 173M (~$25.4M) during 2027, with monthly deliveries scheduled.
Casela must prepay 50% of the total within 15 business days and the remaining 50% by December 31, 2026.
Tongmei reserves capacity and grants supply priority; failure to purchase 80% triggers a cancellation fee.
Agreement secures significant 2027 revenue for AXT's InP business and provides upfront cash from prepayment.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AXT INC entered into Long-term Supply Agreement with Nanjing Casela Technologies Corporation, Ltd. valued at RMB 173,000,000 (approximately US $25.4 million) (effective 2026-06-11).

Action: entry
Agreement: supply
Counterparty: Nanjing Casela Technologies Corporation, Ltd.
Value: RMB 173,000,000 (approximately US $25.4 million)
Effective: 2026-06-11

Exact text from the filing

On June 11, 2026, Beijing Tongmei Xtal Technology Co., Ltd. (“Tongmei”), the subsidiary of AXT, Inc., a Delaware corporation, entered into a Long-term Supply Agreement (the “Agreement”) with Nanjing Casela Technologies Corporation, Ltd. (“Casela”).

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Source: SEC EDGAR

accession 0001437749-26-020978

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