Tongmei, AXT's Subsidiary, Receives Initial Export Permits From China's Central Ministry Of Commerce For Gallium Arsenide And Germanium Substrates
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AXT, Inc.'s subsidiary, Beijing Tongmei Xtal Technology Co., Ltd., has received initial export permits from China's Central Ministry of Commerce to resume shipping gallium arsenide and germanium substrates to certain customers. This follows China's new export control regulations on gallium and germanium materials implemented on August 1, 2023.
September 20, 2023 | 8:15 pm
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AXT, Inc. may see a positive impact on its stock as its subsidiary, Tongmei, has received initial export permits to resume shipping gallium arsenide and germanium substrates to certain customers.
The news of Tongmei, a subsidiary of AXT, Inc., receiving initial export permits from China's Central Ministry of Commerce is directly related to AXT's business operations. This could lead to increased revenues as the company can now resume shipping its products to certain customers. Therefore, this news is likely to have a positive impact on AXT's stock in the short term.
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