JCET Q2 2024 Net Profit Attributable to the Parent Increased by 258% Quarter-on-Quarter, Hitting a Record High for Revenue

Q2 2024 Financial Highlights： Revenue was RMB 8.64 billion, an increase of 36.9% year-on-year and 26.3% quarter-on-quarter. A record high Q2 in the company's history. Generated RMB 1.65 billion cash from operations. With net capex investments of RMB 0.93 billion, free cash flow for the quarter was RMB 0.72 billion. Net profit attributable to owners of the parent was RMB 0.48 billion, an increase of 25.5% year-on-year and 258.0% quarter-on-quarter. Earnings per share was RMB 0.27, as compared to RMB 0.22 in Q2 2023. 1H 2024 Financial Highlights： Revenue was RMB 15.49 billion, an increase of 27.2% year-on-year. Generated RMB 3.03 billion cash from operations. With net capex investments of RMB 1.87 billion, free cash flow for the first half of 2024 was RMB 1.16 billion. Net profit attributable to owners of the parent was RMB 0.62 billion, an increase of 25.0% year-on-year. Earnings per share was RMB 0.35, as compared to RMB 0.28 in 1H 2023. SHANGHAI, Aug. 23, 2024 /PRNewswire/ -- Today, JCET Group (SSE: 600584), a leading global provider of integrated circuit (IC) back-end manufacturing and technology services, announced its financial results for the first half year of 2024. The financial report shows that in the first half of 2024, JCET achieved revenue of RMB 15.49 billion, and net profit attributable to owners of the parent of RMB 0.62 billion, both increased over 25%. In Q2 2024 JCET achieved revenue of RMB 8.64 billion, an increase of 36.9% year-on-year, a record high Q2 in the company's history, and net profit attributable to owners of the parent of RMB 0.48 billion, an increase of 25.5% year-on-year and 258.0% quarter-on-quarter, generating RMB 1.65 billion cash from operations. During the reporting period, the company's capacity utilization has significantly increased, with enlarged investment to expand production capacity of core production lines. In the first half of the year, the revenue of communications, computing, and consumer electronics businesses increased respectively by 48%, 23%, and 33% year-on-year. The company is consistently strengthening the research and development in advanced packaging technologies, with R&D investment of RMB 0.82 billion in 1H 2024, a year-on-year increase of 22.4%. JCET is also actively promoting strategic projects to enhance its smart manufacturing. After two years construction, the new advanced packaging factory "JCET Microelectronics Wafer-level Microsystems Integration High-end Manufacturing Base" with an area of over 130,000 square meters is progressing with equipment mobilization. The new automotive chip back-end manufacturing base has completed building the factory structure. The acquisition of a high-density memory chip packaging factory has obtained necessary approvals, and the project is progressing towards completion. Mr. Li Zheng, CEO of JCET, said, "JCET actively promotes innovative applications of advanced packaging technologies and continues to expand its production capacity in China, Singapore and South Korea, with steady growth in performance in the first half of 2024. The company will continue to increase investment in R&D and strategic projects, strengthen innovation cooperation in the industrial chain and sustainable development, and create higher value for shareholders, customers, employees and society." For more information, please refer to the JCET 1H FY2024 Report. About JCET Group JCET Group is the world's leading integrated-circuit manufacturing and technology services provider, offering a full range of turnkey services that include semiconductor package integration design and characterization, R&D, wafer probe, wafer bumping, package assembly, final test and drop shipment to vendors around the world. Our comprehensive portfolio covers a wide spectrum of semiconductor applications such as mobile, communication, compute, consumer, automotive, and industrial, through advanced wafer-level packaging, 2.5D/3D, System-in-Package, and reliable flip chip and wire bonding technologies. JCET Group has two R&D centers in China and Korea, eight manufacturing locations in China, Korea, and Singapore, and sales centers around the world, providing close technology collaboration and efficient supply-chain manufacturing to our global customers. CONSOLIDATED BALANCE SHEET (Unaudited) RMB in millions Jun 30, 2024 Dec 31, 2023 ASSETS Current assets   Currency funds 10,621 7,325   Trading financial assets 1,605 2,306   Derivative financial assets 0 4   Accounts receivable 4,066 4,185   Receivables financing 71 38   Prepayments 132 104   Other receivables 115 87   Inventories 3,408 3,195   Other current assets 393 375 Total current assets 20,411 17,619 Non-current assets   Long-term receivables 31 33   Long-term equity investments 666 695   Other equity investments 434 447   Investment properties 84 86   Fixed assets 18,408 18,744   Construction in progress 2,039 1,053   Right-of-use assets 519 563   Intangible assets 659 662   Goodwill 2,262 2,248   Long-term prepaid expenses 13 17   Deferred tax assets 377 364   Other non-current assets 66 48 Total non-current assets 25,558 24,960 Total assets 45,969 42,579 LIABILITIES AND EQUITY   Jun 30, 2024 Dec 31, 2023 Current liabilities   Short-term borrowings 467 1,696   Derivative financial liabilities 2 0   Notes payable 300 223   Accounts payable 5,773 4,782   Contract liabilities 260 185   Employee benefits payable 732 781   Taxes and surcharges payable 116 167   Other payables 368 354   Current portion of long-term liabilities 1,806