Investments in Privately Held Companies (Tables)

3 Months Ended

Mar. 31, 2018

Investments in Privately Held Companies

Summary of investments

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

	Investment Balance as of
	March 31,		December 31,		Accounting	Ownership
Company	2018		2017		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	63	%
	$	5,269	$	5,269
Donghai County Dongfang High Purity Electronic Materials Co., Ltd.	$	1,525	$	1,473	Equity	46	%
Xilingol Tongli Germanium Co. Ltd.		3,017		3,190	Equity	25	%
Emeishan Jia Mei High Purity Metals Co., Ltd.		911		915	Equity	25	%
	$	5,453	$	5,578

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 months ended March 31, 2018 and 2017.

	Three Months Ended
	March 31,
	2018		2017
Net revenue	$	7,356	$	5,455
Gross profit	$	35	$	3,722
Operating loss	$	(1,163)	$	(837)
Net loss	$	(1,430)	$	(1,705)