Movement Alert｜AXT Inc Rises 8.12% in Pre-Market Trading, Subsidiary STAR Market IPO Withdrawal Eliminates Uncertainty Amid Semiconductor Sector Rebound

Market Focus07-09

On July 9, AXT Inc rose 8.12% in pre-market trading, trading at $64.85/share, with turnover of $7.83 million.

On the news front, AXT disclosed an SEC filing on July 8 confirming that its subsidiary Tongmei has formally withdrawn its IPO application from the Shanghai Stock Exchange STAR Market, eliminating the overhang of spin-off uncertainty. Simultaneously, the semiconductor equipment sector staged a broad-based rebound, with Applied Materials up 5.56%, KLA-Tencor up 5.53%, Teradyne up 5.86%, and Lam Research up 5.38%, providing systemic sector tailwinds.

The stock has also been supported by a recently announced three-year 6-inch indium phosphide wafer substrate development and supply agreement between its subsidiary Beijing Tongmei and Coherent, an NVIDIA CPO supply partner, with approximately $22.29 million in prepayment. With the global InP substrate supply-demand gap exceeding 70% and lead times extending beyond 24 weeks, the long-term agreement locks in upstream material supply and reinforces earnings visibility.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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