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
