E20 Capital Holdings: 2.59M shares of AXT Inc. (AXTI) disclosed in 13G

Rhea-AI Filing Summary

AXT INC disclosure: E20 Capital Limited reports beneficial ownership of 2,586,756 shares of AXT Inc. common stock, representing 5.5% of the class. The filing lists sole voting and dispositive power over these shares and includes CUSIP 00246W103. The signature block shows a signing date of 05/18/2026 and the form references 11/21/2025.

Insights

Institutional Ownership Analyst

E20 Capital holds a 5.5% stake in AXT Inc., disclosed on a Schedule 13G.

E20 Capital Limited is shown as beneficial owner of 2,586,756 shares with sole voting and dispositive power. The filing identifies the security as Common Stock, CUSIP 00246W103, and provides a signer identified as a director.

As a passive ownership disclosure, the filing is neutral in investor implication; subsequent filings would show any change in status or intent. Timing references include 11/21/2025 and a signature dated 05/18/2026.

Key Figures

Beneficial ownership: 2,586,756 shares Percent of class: 5.5% CUSIP: 00246W103 +2 more

5 metrics

Beneficial ownership 2,586,756 shares Amount beneficially owned per Schedule 13G

Percent of class 5.5% Percent of common stock reported in Item 4

CUSIP 00246W103 Identifier for AXT Inc. common stock

Signature date 05/18/2026 Date on the signature block

Form reference date 11/21/2025 Date referenced near the top of the excerpt

Key Terms

Schedule 13G, Beneficially owned, Sole dispositive power

3 terms

Schedule 13G regulatory

"Item 1. (a) Name of issuer: AXT INC"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

Beneficially owned financial

"Item 4. (a) Amount beneficially owned: 2,586,756"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole dispositive power regulatory

"Item 4. (iii) Sole power to dispose or to direct the disposition of: 2,586,756"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

AXT INC

(Name of Issuer)

Common Stock, $0.001 par value

(Title of Class of Securities)

00246W103

(CUSIP Number)

11/21/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 00246W103

1

Names of Reporting Persons

E20 Capital Ltd

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

HONG KONG

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,586,756.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,586,756.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,586,756.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.5 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: AXT INC
(b)	Address of issuer's principal executive offices: 4281 TECHNOLOGY DR., FREMONT, CALIFORNIA, 94538.
Item 2.
(a)	Name of person filing: E20 Capital Limited
(b)	Address or principal business office or, if none, residence: Room 1001, Level 10, Prosperity Tower, 39 Queen's Road Central, Central, Hong Kong
(c)	Citizenship: Hong Kong
(d)	Title of class of securities: Common Stock, $0.001 par value
(e)	CUSIP Number(s): 00246W103
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 2,586,756
(b)	Percent of class: 5.5%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 2,586,756
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 2,586,756
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

E20 Capital Ltd

Signature:	Shi Dawei
Name/Title:	Director
Date:	05/18/2026

FAQ

What stake does E20 Capital hold in AXT Inc (AXTI)?

E20 Capital Limited beneficially owns 2,586,756 shares, equal to 5.5% of AXT Inc.'s common stock. The filing shows sole voting and dispositive power over these shares and lists CUSIP 00246W103.

Does the Schedule 13G indicate how E20 Capital will vote its AXT shares?

The filing states E20 Capital has sole voting power over 2,586,756 shares. It does not describe specific voting intentions or any agreements about voting in this excerpt.

What dates are shown in the disclosure for E20 Capital's filing?

The form references 11/21/2025 and the signature is dated 05/18/2026. Those dates appear in the excerpt and anchor the disclosed ownership snapshot.

Who signed the filing for E20 Capital on the Schedule 13G?

The signature block shows the name Shi Dawei with the title Director and a signature date of 05/18/2026 in the provided excerpt.

What security and identifier are reported for AXT in this filing?

The filing lists the security as Common Stock, $0.001 par value with CUSIP 00246W103, as shown in the excerpt.