Since China’s announcement of new export control regulations on gallium and germanium materials on
Tongmei continues to work with the appropriate Chinese authorities to obtain the necessary permits for additional customers so that it can resume shipping gallium arsenide and germanium substrates to those customers in compliance with all export control regulations.
About
AXT is a material science company that develops and manufactures high-performance compound and single element semiconductor substrates comprising indium phosphide (InP), gallium arsenide (GaAs) and germanium (Ge). In addition, as part of its supply chain strategy, the company has partial ownership in more than ten companies in
Safe Harbor Statement
The foregoing paragraphs contain forward-looking statements within the meaning of the Federal securities laws, including, for example, statements regarding the resumption of shipping gallium arsenide and germanium substrates to certain customers and Tongmei’s efforts to obtain from the appropriate Chinese authorities the necessary permits for additional customers so that it can resume shipping gallium arsenide and germanium substrates to those customers. These forward-looking statements are based upon assumptions that are subject to uncertainties and factors relating to the company’s operations and business environment, which could cause actual results to differ materially from those expressed or implied in the forward-looking statements contained in the foregoing discussion. These uncertainties and factors include, but are not limited to, the administrative challenges in applying for and obtaining the necessary permits. Additional uncertainties and factors include, but are not limited to, other factors as set forth in the company’s Annual Report on Form 10-K, quarterly reports on Form 10-Q and other filings made with the
Contacts: | |
Chief Financial Officer | |
(510) 438-4700 | |
(650) 312-9060 |
Source:
2023 GlobeNewswire, Inc., source