Focusing on Key Applications of Advanced Packaging, JCET Growth Accelerated Quarter-on-Quarter in Q3 2023

2023-10-27

Q3 2023 Financial Highlights：

Revenue was RMB 8.26 billion, an increase of 30.8% quarter-on-quarter
Net profit was RMB 0.48 billion, an increase of 24% quarter-on-quarter
Earnings per share was RMB 0.26

Q3 YTD 2023 Financial Highlights：

Revenue was RMB 20.43 billion
Net profit was RMB 0.97 billion
Earnings per share was RMB 0.54

Shanghai, China, October 27, 2023 - 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 third quarter of 2023. The financial report shows that in the third quarter, JCET achieved revenue of RMB 8.26 billion, an increase of 30.8% quarter-on-quarter, and net profit of RMB 0.48 billion, an increase of 24% quarter-on-quarter.

JCET has focused on key applications of advanced packaging this year, continuously enhancing its overall solution capabilities for application scenarios, optimizing production capacity layout, and further strengthening its leading position in the global IC packaging and test industry.

JCET has achieved innovative breakthroughs in markets such as automotive electronics, 5G communications, high-performance computing (HPC), and wide bandgap power devices. Seizing market opportunities driven by the acceleration of the electric vehicle market, JCET’s automotive electronics business has maintained rapid growth. In the first three quarters of this year, the company’s automotive electronics revenue increased by 88% year-on-year. In the 5G communications-related market, JCET provided global customers with services in R&D and HVM, further solidifying its leading position in areas including Antenna in Package (AiP) modules, RF power amplifiers (PA), and radio frequency front end (RFFE) modules.

Leveraging high-density heterogeneous SiP technologies and advantageous global production layouts, JCET intensifies its efforts with customers in AI and HPC domains for advanced packaging solutions development and product introductions, accelerating market expansion in high-computation systems, power management, high-performance storage, and smart terminals. In the power semiconductor market, the high-density integration solutions developed by JCET in collaboration with global customers on wide bandgap power devices are widely used in the automotive and industrial energy storage, with ongoing production capacity expansion.

JCET continues to enhance its technological innovation, with R&D investment of RMB 1.08 billion in the first three quarters of 2023, a year-on-year increase of 10.4%. The company continues to promote the construction of high-performance packaging production capacities and upgrade existing factories towards advanced packaging technologies. In addition, JCET improves lean production capabilities, strengthens inventory control and supply chain management, and ensures that the company’s operations remain highly efficient.

Mr. Li Zheng, CEO of JCET, said, “In recent years, JCET, by focusing on high-performance advanced packaging technologies, has made breakthrough progress in collaboration with major customers on the high-end chip business and achieved significant quarter-on-quarter growth in performance for the third quarter of this year. The company will seize new opportunities arising from the restructuring of the global industrial chain and will continue to promote the healthy development of IC back-end manufacturing.”

Click to view: JCET 2023 Third Quarter Report