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AXT, Inc. Announces the Appointment of Chia-Li Wei to Senior Director of Technology

FREMONT, Calif., May 23 /PRNewswire-FirstCall/ -- AXT, Inc. (Nasdaq: AXTI), a leading manufacturer of compound semiconductor substrates, today announced the appointment of Chia-Li Wei to senior director of technology. Wei will be responsible for directing AXT's technical vision and leading all aspects of the company's technology development. Wei will be principally located in AXT's manufacturing facility in Beijing, China and will report to MinSheng Lin, chief operating officer.

Wei joins AXT with more than 30 years of engineering experience in compound semiconductor manufacturing with major semiconductor manufacturing companies. His areas of expertise include MOCVD epitaxial processing, which is used for LEDs, and Liquid Encapsulated Czochralski (LEC) growth of both gallium phosphide (GaP) and gallium arsenide (GaAs). Prior to joining AXT, he spent more than 25 years in various epitaxial process engineering positions with HP-OED, which was acquired by Lumileds and then became Philips Lumileds. Prior to joining HP-OED, Wei spent three years in process engineering development in LEC growth of both indium phosphide (InP) and low-D gallium arsenide with the central research lab of Varian Associates.

"It gives me great pleasure to welcome Chia-Li to AXT," said Phil Yin, chief executive officer. "Having known him for more than 30 years, I look forward to leveraging his considerable expertise in MOCVD epitaxial processing to further strengthen our position in the compound and other specialty semiconductor market.

"Further, his vast experience in Liquid Encapsulated Czochralski (LEC) crystal growth technology will allow us to broaden our product portfolio and increase our total market opportunity by offering an alternative to substrates grown using vertical gradient freeze technology (VGF) for certain applications that are not currently addressed at AXT. It will also allow us to explore new compound semiconductor substrate products such as gallium phosphide (GaP), which are best produced using LEC technology. I believe that Chia-Li will be a tremendous asset to our team and I look forward to his many contributions in the coming years."

Wei holds a bachelor of science degree in metallurgical engineering from the New Mexico Institute of Mining and Technology and a master of science degree in metallurgical engineering from the University of Tennessee.

About AXT, Inc.

AXT designs, develops, manufactures and distributes high-performance compound and single element semiconductor substrates comprising gallium arsenide (GaAs), indium phosphide (InP) and germanium (Ge). The company's substrate products are used primarily in lighting display applications, wireless communications, and fiber optic communications. Its vertical gradient freeze (VGF) technique for manufacturing semiconductor substrates provides significant benefits over other methods and enabled AXT to become a leading manufacturer of such substrates, particularly in optoelectronics applications. AXT has manufacturing facilities in China and invests in five joint ventures producing raw materials. For more information, see AXT's website at

Safe Harbor Statement

The foregoing paragraphs contain forward-looking statements within the meaning of the Federal Securities laws, including statements related to the future performance of the company and our ability to broaden our product portfolio and increase our total market opportunity by offering an alternative to VGF, and to offer new compound semiconductor substrate products such as gallium phosphide (GaP). These forward-looking statements are based upon specific assumptions that are subject to uncertainties and factors relating to the company's operations and business environment, which could cause actual results of the company to differ materially from those expressed or implied in the forward-looking statements contained in the foregoing discussion. These uncertainties and factors include but are not limited to the impact of customer qualification of our products, new opportunities for our China joint ventures, improvements in our production processes, product quality and yields, cost and supply of raw materials, the impact of technology developments providing new markets for GaAs and Ge substrates, overall conditions in the markets in which the company competes as well as market conditions and trends; market acceptance and demand for the company's products; and other factors as set forth in the company's annual report on Form 10-K and other filings made with the Securities and Exchange Commission. Each of these factors is difficult to predict and many are beyond the company's control. The company does not undertake any obligation to update publicly any forward-looking statement, as a result of new information, future events or otherwise.

CONTACT: Leslie Green of Green Communications Consulting, LLC,
+1-650-312-9060, for AXT, Inc.
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