· 个股论点
涉及标的： $AXTI
那里没有风险。由于 $AXTI 的一位董事会成员不幸去世，这只是例行程序。如果存在风险，Northland 和其他人就不会给他们 1.3 亿美元（行使了 1300 万美元）来资助磷化铟(InP)衬底扩产。话虽如此，上海有色网(SMM)上的 7N 级产品价格已达到历史新高，而美国市场在此基础上还支付溢价。因此，我主要关注价格作为需求以及类似 AXT 的高带宽内存(HBM)可能带来的利润率增长的代理指标。（通过铟公司(Indium Corp)在西方市场的 6N 级产品溢价约为 200%+）
No risk there. It's routine procedure since one of $AXTI's board members passed away sadly. Northland and others wouldnt give them $100M to fund InP substrate expansion (exercised the $13m) if there were risk there. That being said 7N prices on SMM have reached ATHs, and American markets are paying premium on top of that. So I'd mainly watch prices as a proxy for demand and possible margin increases like HBM for AXT. (it's like 200%+ premium for 6N on Western markets via Indium Corp)