Chairman’s Address: AXT Celebrates 30 Years

Dear customers, investors, and all stakeholders:

This year marks a new beginning for our company, 30 years after its founding. Looking back, I am filled with gratitude; looking ahead, I am brimming with confidence.

In 1995, AXT was born in Jixi. It is thanks to the trust and choice of our customers, the vision and perseverance of our investors, and the hard work and dedication of all our employees that we have turned our blueprint into reality—expanding from chain parts into automotive components, and then breaking new ground in precision-machined parts for fields such as robotics, e-bikes, and data center liquid cooling. To all of you, I wish to express my sincerest gratitude.

We stand on a solid foundation and are moving forward with strong momentum. While continuing to build on our traditional strengths in transmission components, our core products—such as motor shafts and gears—have delivered outstanding results in the fast-growing new energy vehicle market, earning broad recognition from both customers and the industry. At the same time, our technologies and products are breaking new ground in emerging fields like robotics, e-bikes, and data center liquid cooling, injecting fresh and powerful energy into the company’s growth. These achievements are a testament to a team that embraces tough challenges and dares to innovate, and they clearly demonstrate the vision and soundness of our strategic transformation and upgrading.

Looking ahead, we are filled with confidence. The past 30 years have witnessed our remarkable journey. Today, we stand at a new starting point, ready to leap to new heights. Our strategic goal is clear and unwavering: to become an advanced manufacturer of precision-machined parts and assemblies. Over the next five years, we will drive rapid revenue growth, significantly expand the market share of our core products, and consolidate and extend our leadership in high-end manufacturing fields. I firmly believe that with this innovative, agile, and outstanding team, and with the deep heritage and pioneering spirit cultivated over three decades, we will embrace another 30 years of even greater glory. Let us stand together and create a brand-new chapter that belongs to all of us!

Thank you all!

Chairman: Daoyi Xu

March 31, 2026