Investments in Privately Held Companies (Tables)

6 Months Ended

Jun. 30, 2017

Investments in Privately Held Companies

Investments

The six direct investments are summarized below (in thousands):

	Investment Balance as of
	June 30,		December 31,		Accounting	Ownership
Company	2017		2016		Method	Percentage
Beijing JiYa Semiconductor Material Co., Ltd.	$	3,331	$	3,331	Consolidated	46	%
Nanjing JinMei Gallium Co., Ltd.		592		592	Consolidated	83	%
Beijing BoYu Semiconductor Vessel Craftwork Technology Co., Ltd.		1,346		1,346	Consolidated	70	%
	$	5,269	$	5,269
Donghai County Dongfang High Purity Electronic Materials Co., Ltd.	$	1,394	$	1,498	Equity	46	%
Xilingol Tongli Germanium Co. Ltd.		3,813		4,000	Equity	25	%
Emeishan Jia Mei High Purity Metals Co., Ltd.		985		1,101	Equity	25	%
	$	6,192	$	6,599

Summarized equity method income information

AXT’s three direct minority investment entities and the three minority investments of JiYa and the one minority investment of JinMei are not consolidated and are accounted for under the equity method. Excluding one fully impaired entity, the equity entities had the following summarized income information (in thousands) for the three and six months ended June 30, 2017 and 2016.

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2017		2016		2017		2016
Net revenue	$	5,908	$	7,245	$	11,363	$	10,752
Gross profit (loss)	$	4,277	$	(481)	$	7,999	$	(435)
Operating loss	$	(794)	$	(1,422)	$	(1,631)	$	(2,540)
Net loss	$	(818)	$	(1,390)	$	(2,523)	$	(3,098)