News

JCET Hits New Highs for Performance in Q3, High-Performance Packaging Technology Opens New Opportunities for Semiconductor Back-end Manufacturing – PR Newswire

Searching for your content…
In-Language News
Contact Us
888-776-0942
from 8 AM – 10 PM ET
News provided by
Oct 27, 2022, 07:44 ET
Share this article
Q3 2022 Financial Highlights:
Q3 YTD 2022 Financial Highlights:
SHANGHAI, Oct. 27, 2022 /PRNewswire/ — Today, JCET Group (SSE: 600584), a leading global provider of integrated circuit (IC) manufacturing and technology services, announced its financial results for the third quarter of 2022. The financial report shows that in the third quarter, JCET achieved revenue of RMB 9.18 billion, an increase of 13.4% year-on-year, and net profit of RMB 0.91 billion, an increase of 14.6% year-on-year, a record high third quarter in the company’s history.
In recent years, JCET leverages its international and domestic “dual circulation” model, constantly optimizes the product structure and its business proportion, flexibly adjusts the order structure and capacity layout, and enhances its ability to withstand cyclical fluctuations.
JCET accelerated the research and development of high-performance packaging and testing technologies including 2.5D/3D chiplet integration, and the introduction of customer products. The company strengthened the development of high-value added markets such as automotive electronics, computing electronics and 5G communications, and enhanced value-added services such as high-end testing and design services. The related revenue and proportion increased rapidly. Among them, the company’s advanced packaging related revenue, which mainly includes high-density system level packaging technology, large size flip chip technology and fan-out wafer level packaging technology increased by 21% year-on-year in the first three quarters. The revenue related to automotive electronics and computing electronics increased 59% year-on-year in the first three quarters. At the same time, the company’s overseas factories grew strongly, and through deepening lean production and strengthening cost control, the company overcame the trend and achieved record high growth in the third quarter. The company continued to improve the management of working capital, stably produced abundant cash flow, and laid a solid foundation for sustainable development in the future.
At the same time, the company makes great efforts in innovation, cooperates with the industrial supply chain, continuously improves talent incentives, employee care and other measures, practices corporate social responsibility, and stimulates the cohesion of all employees. The company launched its first employee stock ownership plan and stock option incentive plan since its public listing, reflecting the firm confidence of all its employees in the long-term development of the company.
Mr. Li Zheng, CEO of JCET said, “In recent years, JCET has successfully introduced the mass production of high-density high-performance packaging technology to many of the world’s leading IC manufacturers, providing a solid foundation for the company to expand its market share in advanced technology and solidify its steady growth. In the first three quarters of this year, the revenue and profit from JCET’s high-density system-level packaging technology and fan-out wafer level packaging technology increased significantly compared with the same period last year, reflecting the significant growth in the large-scale application of semiconductor heterogeneous integrated packaging in computers, new energy vehicles, smart cars, intelligent manufacturing, and other fields. JCET will further increase its resource investment in relevant technologies and markets and is confident to continue strengthening its leading position in the global high-performance packaging market.”
Click to view: JCET 2022 Third Quarter 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 industry etc., through advanced wafer level packaging, 2.5D/3D, System-in-Packaging, and reliable flip chip and wire bonding technologies. JCET Group has two R&D centers in China and Korea, six manufacturing locations in China, Korea and Singapore, and sales centers around the world, providing close technology collaboration and efficient supply-chain manufacturing to customers in China and around the world.
CONSOLIDATED BALANCE SHEET (Unaudited)                                                                
RMB in millions
Sep 30, 2022
Dec 31, 2021
ASSETS
Current assets
  Currency funds
2,412
2,761
  Trading financial assets
4,151
2,670
  Derivative financial assets
0
5
  Accounts receivable
5,043
4,271
  Receivables financing
98
28
  Prepayments
205
183
  Other receivables
72
77
  Inventories
4,157
3,193
  Assets classified as held for sale
0
99
  Other current assets
132
130
Total current assets
16,270
13,417
Non-current assets
  Long-term receivables
35
38
  Long-term equity investments
764
770
  Other equity investments
434
418
  Investment properties
90
93
  Fixed assets
19,088
18,424
  Construction in progress
1,107
661
  Right-of-use assets
597
622
  Intangible assets
484
447
  Goodwill
2,253
2,023
  Deferred tax assets
179
185
  Other non-current assets
1
1
Total non-current assets
25,032
23,682
Total assets
41,302
37,099
LIABILITIES AND EQUITY  
Sep 30, 2022
Dec 31, 2021
Current liabilities
  Short-term borrowings
1,885
2,193
  Derivative financial liabilities
27
2
  Notes payable
312
579
  Accounts payable
6,700
5,298
  Contract liabilities
332
458
  Employee benefits payable
1,023
1,062
  Taxes and surcharges payable
207
235
  Other payables
498
414
  Liabilities classified as held for sale
0
45
  Current portion of long-term liabilities
2,096
1,052
  Other current liabilities
4
3
Total current liabilities
13,084
11,341
Non-current liabilities
  Long-term borrowings
3,375
3,751
  Lease liabilities
543
568
  Long-term employee benefits payable
8
20
  Deferred income
351
337
  Deferred tax liabilities
79
82
Total non-current liabilities
4,356
4,758
Total liabilities
17,440
16,099
Equity
  Paid-in capital
1,780
1,780
  Capital reserves
15,016
14,984
  Less: Treasury shares
(89)
0
  Accumulated other comprehensive income
550
(281)
  Surplus reserves
174
174
  Unappropriated profit
6,431
4,334
Total equity attributable to owners of the parent
23,862
20,991
Minority shareholders
0
9
Total equity
23,862
21,000
Total liabilities and equity
41,302
37,099
CONSOLIDATED INCOME STATEMENT (Unaudited)                                                                                                     
RMB in millions, except share data
Three months ended
Nine months ended
Sep 30, 2022
Sep 30, 2021
Sep 30, 2022
Sep 30, 2021
Revenue
9,184
8,099
24,778
21,917
Less: Cost of sales
7,616
6,576
20,323
18,006
          Taxes and surcharges
26
16
69
58
          Selling expenses
45
49
142
145
          Administrative expenses
312
276
805
743
          Research and development expenses
343
312
980
860
          Finance expenses
(26)
20
(11)
176
            Including: Interest expenses
51
70
143
270
                     Interest income
5
14
21
34
Add: Other income
55
38
138
135
         Investment income / (loss)
25
15
65
299
            Including: Income / (loss) from investments in associates and joint ventures
1
3
(6)
286
         Gain / (loss) on the net position hedging
0
(8)
0
(11)
         Gain / (loss) on changes in fair value of financial assets/liabilities 
(25)
0
(40)
0
         Credit impairment (loss is expressed by “-“)
22
14
17
14
         Asset impairment (loss is expressed by “-“)
(61)
(34)
(125)
(52)
         Gain / (loss) on disposal of assets 
18
16
41
30
Operating profit / (loss)
902
891
2,566
2,344
Add: Non-operating income
40
0
46
6
Less: Non-operating expenses
0
8
1
11
Profit / (loss) before income taxes
942
883
2,611
2,339
Less: Income tax expenses
33
89
159
222
Net profit / (loss) 
909
794
2,452
2,117
Classified by continuity of operations
  Profit / (loss) from continuing operations
909
794
2,452
2,117
Classified by ownership
  Net profit / (loss) attributable to owners of the parent
909
793
2,452
2,116
  Net profit / (loss) attributable to minority shareholders
0
1
0
1
Add: Unappropriated profit at beginning of period
5,522
2,751
4,335
1,517
Less: Cash dividends payable
0
0
356
89
Unappropriated profit at end of period (attributable to owners of the parent)
6,431
3,544
6,431
3,544
Other comprehensive income, net of tax
446
24
832
(78)
Comprehensive income attributable to owners of the parent
446
24
832
(78)
Comprehensive income not be reclassified to profit or loss
(14)
0
(14)
1
  Remeasurement gains or losses of a defined benefit plan
0
0
0
1
  Change in the fair value of other equity investments
(14)
0
(14)
0
Comprehensive income to be reclassified to profit or loss
460
24
846
(79)
  Comprehensive income using the equity method that may be reclassified to profit or loss
7
0
0
(21)
  Cash flow hedge reserve
(9)
(4)
(26)
(9)
  Exchange differences of foreign currency financial statements
462
28
872
(49)
Total comprehensive income
1,355
818
3,284
2,039
  Including:
     Total comprehensive income attributable to owners of the parent
1,355
817
3,284
2,038
     Total comprehensive income attributable to minority shareholders
0
1
0
1
Earnings per share
  Basic earnings per share
0.51
0.45
1.38
1.23
  Diluted earnings per share
0.51
0.45
1.38
1.23
CONSOLIDATED CASH FLOW STATEMENT (Unaudited)                                                                                                                                                          
RMB in millions
Three months ended
Nine months ended
Sep 30, 2022
Sep 30, 2021
Sep 30, 2022
Sep 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
  Cash receipts from the sale of goods and the rendering of services
8,201
8,048
25,200
22,834
  Receipts of taxes and surcharges refunds
126
107
273
340
  Other cash receipts relating to operating activities
87
94
218
207
Total cash inflows from operating activities
8,414
8,249
25,691
23,381
  Cash payments for goods and services
5,534
4,995
17,146
14,415
  Cash payments to and on behalf of employees
948
1,057
3,257
3,327
  Payments of all types of taxes and surcharges
193
210
694
589
  Other cash payments relating to operating activities
43
75
214
257
Total cash outflows from operating activities
6,718
6,337
21,311
18,588
Net cash flows from operating activities
1,696
1,912
4,380
4,793
CASH FLOWS FROM INVESTING ACTIVITIES
  Cash receipts from returns of investments
3,390
2,455
8,550
2,852
  Cash receipts from investment income
17
13
55
13
  Net cash receipts from disposal of fixed assets, intangible assets and other long-term assets
76
93
110
261
  Net cash receipts from disposal of subsidiaries and other business units
3
0
30
0
Total cash inflows from investing activities
3,486
2,561
8,745
3,126
  Cash payments to acquire fixed assets, intangible assets and other long-term assets
1,138
1,365
2,688
3,013
  Cash payments for investments
4,101
2,420
10,061
4,376
Total cash outflows from investing activities
5,239
3,785
12,749
7,389
Net cash flows from investing activities
(1,753)
(1,224)
(4,004)
(4,263)
CASH FLOWS FROM FINANCING ACTIVITIES
  Cash proceeds from investments by others
0
0
0
4,966
  Cash receipts from borrowings
1,446
2,268
2,961
4,629
  Other cash receipts relating to financing activities
0
0
0
347
Total cash inflows from financing activities
1,446
2,268
2,961
9,942
  Cash repayments for debts
796
2,985
2,530
8,515
  Cash payments for distribution of dividends or profit and interest expenses
405
161
495
366
  Other cash payments relating to financing activities
169
212
758
771
Total cash outflows from financing activities
1,370
3,358
3,783
9,652
Net cash flows from financing activities
76
(1,090)
(822)
290
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS
37
1
95
(7)
NET INCREASE IN CASH AND CASH EQUIVALENTS
56
(401)
(351)
813
Add: Cash and cash equivalents at beginning of period
2,356
3,381
2,763
2,167
CASH AND CASH EQUIVALENTS AT END OF PERIOD
2,412
2,980
2,412
2,980
SOURCE JCET Group
More news releases in similar topics
Cision Distribution 888-776-0942
from 8 AM – 9 PM ET

source

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button