News: Suppliers
23 June 2026
AXT expands board from four to five directors
AXT Inc of Fremont, CA, USA — which makes gallium arsenide (GaAs), indium phosphide (InP) and germanium (Ge) substrates and raw materials at plants in China — says that Tracy Liu has been appointed to its board of directors, which has hence expanded from four to five directors.
Liu has more than 30 years of business advisory experience, tax strategy and accounting, including 10 years with Big Four public accounting firms and more than 20 years advising public and private companies. She has worked extensively with high-technology and semiconductor companies in Silicon Valley and the Asia-Pacific region, providing strategic guidance on international tax planning, cross-border business operations, and stock compensation. Her experience advising multi-national companies on restructuring initiatives, joint ventures and regulatory matters in both the USA and China provides valuable insight into AXT's global operations and will help to strengthen the board’s understanding of the business environment in which AXT’s Chinese subsidiary Tongmei operates.
Liu currently serves as an independent director and chair of the audit committee of semiconductor equipment company ACM Research Inc and was, until the STAR Market requirement for a supervisory board ended, chairperson of the supervisory board of ACM Shanghai, a semiconductor equipment company listed on the Shanghai STAR Market. Her experience with semiconductor and technology companies, combined with her public company board and audit committee leadership, brings significant financial, operational and governance expertise to AXT, it is reckoned.
Liu holds a master’s degree in accounting with a specialization in taxation and a bachelor’s degree in computer science. She is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants.
“Tracy is very knowledgeable and experienced about operating internationally, including in China, and combines her broad experience in financial matters with strategic planning for companies like AXT,” comments CEO Morris Young. “She joins at a time when AXT has embarked on a very aggressive strategic path in adding capacity to take advantage of the dramatic increase in demand for our indium phosphide wafers driven by AI’s need for optical data transmission. This is the right time to add a fifth person to our board.”
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