Yunnan Germanium（云南锗业）disclosed that its subsidiary Yunnan Xinyao Semiconductor Materials（云南鑫耀半导体材料）had signed a five-year supply framework with Applied Optoelectronics（应用光电）, or AOI. A separate 2027 contract specifies 180,000 wafers worth USD 194.4 million before tax, with deliveries subject to Chinese export licensing.
Under the framework, AOI expects to purchase 180,000 four-inch N-type indium phosphide substrates annually from 2027 through 2031, for an estimated total of 900,000 wafers. Prices and delivery volumes for subsequent years will depend on annual contracts, purchase orders and the quantities authorised under export licences.
The agreements extend an existing relationship between the two companies. Texas-based AOI makes optical communications products for data centres, cable networks and telecommunications customers. Indium phosphide substrates serve as the base material for optical components such as semiconductor lasers.
For the 2027 contract, Yunnan Xinyao must obtain and maintain the applicable dual-use export licence. AOI may cancel the contract or affected orders if the supplier cannot secure or maintain the licence on time. The approved quantities and resulting purchase orders will determine the value of actual shipments.
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