AXT Subsidiary Tongmei Signs Deal for Up to RMB 3.67 Billion in Private Equity Financing

Bitget2026/10/28 10:12

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AXT's subsidiary Tongmei signed agreements to raise up to RMB 3.67 billion (approximately US$ 545 million) through ordinary shares.
The private equity financing has a minimum investment of RMB 1.91 billion (approximately US$ 285 million).
Proceeds will fund indium phosphide substrate capacity expansion, broader operations and working capital, including capacity increases at Chinese raw material companies.
Closing is expected in December 2026, subject to customary conditions, including required government filings.
At the maximum investment, the parent expects to retain control with a 73.4% stake in Tongmei, continuing financial consolidation.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. AXT Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001213900-26-113058), on October 28, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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AXT Subsidiary Tongmei Signs Deal for Up to RMB 3.67 Billion in Private Equity Financing

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