According to SEC file dated February 3, 2026 Maytree Asset Management Ltd reported a new stake of 682,299 shares in AX (NASDAQ:AXTI) during the fourth quarter. The estimated transaction value of the stake was $11.16 million, based on the average price for the period. The quarter-end value of the position was also $11.16 million, reflecting both share purchases and price changes.

This new position in AXT represented 8.27% of Maytree Asset Management Ltd’s 13F reportable assets after the filing.

Main funds after presentation:

• NASDAQ:PDD: $58.18 million (43.1% of aum)

• NASDAQ:INTC: $12.13B (9.0% of AUM)

• NASDAQ:NVDA: $11.68B (8.7% of AUM)

• NASDAQ:AXT: $11.16 billion (8.3% of AUM)

• NASDAQ:SNPS: $9.82B (7.3% of AUM)

As of February 2, 2026, AXT shares were trading at $20.94, up 911.6% year-to-date, outperforming the S&P 500 by 886.42 percentage points.

• AXT, Inc. produces single-element and compound semiconductor substrates, including indium phosphide, gallium arsenide, and germanium, primarily used in data center connectivity, 5G communications, fiber optics, LEDs, and solar cells.

• It generates revenue by designing, manufacturing and distributing high-purity semiconductor substrates and related materials using proprietary vertical gradient freezing technology.

• The company serves technology manufacturers and OEMs in the United States, China, Europe, Japan, Taiwan and Korea, targeting sectors such as telecommunications, data centers, consumer electronics and industrial applications.

AXT, Inc. is a technology company specializing in the development and production of advanced semiconductor substrates for high-growth applications in communications, photonics and energy. With a global customer base and a focus on proprietary manufacturing processes, the company leverages its expertise to supply critical materials for next-generation electronic devices. Its diversified product portfolio and international reach position it as a key supplier within the semiconductor materials industry.

Hong Kong-based investment advisory firm Maytree Asset Management’s purchase of AXT shares is noteworthy because the purchase represents a new position and was significant enough to catapult AXT into the company’s top five holdings.

The transaction suggests a bullish outlook for AXT, which has enjoyed a phenomenal run over the past year. The stock hit a 52-week low of $1.13 last April, but rose to an astonishing high of $26.66 on January 15, 2026. The dramatic rise was driven by the artificial intelligence market.