Investments in Privately-Held Raw Material Companies (Tables)

12 Months Ended

Dec. 31, 2020

Investments in Privately-Held Raw Material Companies

Summary of investments

The investments are summarized below (in thousands):

	Investment Balance as of
	December 31,		December 31,		Accounting	Ownership	*
Company	2020		2019		Method	Percentage
Nanjing JinMei Gallium Co., Ltd.	$	592	$	592	Consolidated	**100	%
Chaoyang JinMei Gallium Co., Ltd.		1,820		1,820	Consolidated	**100	%
Beijing BoYu Semiconductor Vessel Craftwork Technology Co., Ltd.		1,346		1,346	Consolidated	**100	%
	$	3,758	$	3,758
Donghai County Dongfang High Purity Electronic Materials Co., Ltd.	$	1,651	$	1,326	Equity	**46	%
Beijing JiYa Semiconductor Material Co., Ltd.		1,418		1,621	Equity	39	%
Xilingol Tongli Germanium Co., Ltd.		—		—	Equity	25	%
Xiaoyi XingAn Gallium Co., Ltd.		2,822		2,367	Equity	**25	%
Emeishan Jia Mei High Purity Metals Co., Ltd.		485		647	Equity	25	%
	$	6,376	$	5,961

Summary of gain on deconsolidation

	Amount
	(in thousands)
Fair value of the consideration received	$	366
Fair value of the retained investment in Beijing JiYa Semiconductor Material Co., Ltd.		2,040
Carrying value of noncontrolling interests, net of accumulated other comprehensive income attributable to subsidiary		617
Derecognition of Beijing JiYa Semiconductor Material Co., Ltd.'s net asset		(2,848)
Gain recognized on deconsolidation of Beijing JiYa Semiconductor Material Co., Ltd.	$	175
	Amount
	(in thousands)
Fair value of the retained investment in Beijing JiYa Semiconductor Material Co., Ltd.	$	2,040
Carrying value of retained noncontrolling investment		(1,559)
Gain on retained noncontrolling investment due to remeasurement	$	481

Summarized equity method income information

AXT’s minority investment entities 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 years ended December 31, 2020, 2019 and 2018, respectively:

							Our share for the
		Year Ended					Year Ended
		December 31,					December 31,
	2020		2019		2018		2020		2019		2018
Net revenue	$	20,049	$	18,991	$	33,212	$	6,252	$	5,458	$	8,549
Gross profit		4,907		2,013		6,457		1,504		558		1,675
Operating income (loss)		1,957		(2,266)		(3,152)		504		(700)		(778)
Net income (loss)	$	1,014	$	(3,000)	$	(4,750)	$	111	$	(1,876)	$	(1,080)

Summarized balance sheet information

Excluding one fully impaired entity, these minority investment entities that are not consolidated, but rather are accounted for under the equity method, had the following summarized balance sheet information (in thousands) as of December 31, 2020 and 2019, respectively:

	As of December 31,
	2020		2019
Current assets	$	24,136	$	22,144
Noncurrent assets		11,339		11,990
Current liabilities		12,502		13,726
Noncurrent liabilities		—		—