Bank Loans and Line of Credit

9 Months Ended

Sep. 30, 2022

Bank Loans and Line of Credit

Bank Loans and Line of Credit

Note 16. Bank Loans and Line of Credit

Our bank loans and credit facilities typically have a term of 12 months or less and are included in “Bank loan” in our condensed consolidated balance sheets. The following table represents bank loans as of September 30, 2022 and December 31, 2021 (in thousands, except interest rate data):

			Loan	Interest					December 31,		September 30,
Subsidiary	Bank		Detail	Rate		Start Date	Due Date		2021		2022
Tongmei	Bank of China (1)	$	1,405	3.9	%	September-21	March-22	$	1,573	$	-
			1,050	3.9	%	September-21	March-22		1,220		-
			3,935	4.6	%	January-22	January-23		-		3,939
			2,108	2.7	%	September-22	March-23		-		2,110
			1,405	4.2	%	April-22	April-23		-		1,408
	Bank of Communications (2)		2,811	4.0	%	September-21	September-22		3,144		-
			1,405	4.0	%	November-21	November-22		1,573		1,408
			1,405	3.3	%	January-22	January-23		-		1,406
			1,405	3.3	%	January-22	January-23		-		1,406
	China Merchants Bank (3)		1,405	3.6	%	December-21	December-22		1,573		1,406
	China Merchants Bank (5)		1,405	4.2	%	December-21	December-22		1,573		1,407
	Bank of Beijing (4)		3,192	4.2	%	May-22	May-23		-		3,196
	Industrial Bank (5)		5,621	4.4	%	June-22	June-23		-		5,628
			2,811	4.4	%	September-22	September-23		-		2,814
	NingBo Bank (5)		1,405	4.8	%	June-22	June-23		-		1,406
			1,405	4.8	%	August-22	August-23		-		1,406
			1,405	4.8	%	September-22	September-23		-		1,406
	Industrial and Commercial Bank of China (5)		5,621	3.2	%	September-22	July-23		-		5,621
	NanJing Bank (5)		2,811	4.3	%	September-22	September-23		-		2,811
BoYu	Industrial and Commercial Bank of China (6)		1,405	3.9	%	December-21	December-22		1,573		1,406
	NingBo Bank (5)		1,405	4.8	%	August-22	December-22		-		1,406
			703	4.8	%	August-22	December-22		-		704
		$	703	4.8	%	September-22	March-23		-		704
	Loan Balance							$	12,229	$	42,998

Collateral for the above bank loans and line of credit

(1) Baoding Tongmei’s land use rights and all of its buildings located at its facility in Dingxing, China.

(2) ChaoYang Tongmei’s land use rights and all of its buildings located at its facility in Kazuo, China.

(3) Beijing Capital Financing Guarantee Co., Ltd. in exchange for the guarantee fee of 1.5% of the loan amount.

(4) AXT time deposit.

(5) Not collateralized.

(6) BoYu’s land use rights and its building located at its facility in Tianjin, China and BoYu’s accounts receivable.