PR85219

SHANGHAI, Aug. 21, 2020 /PRNewswire=KYODO JBN/--

Strong demand for advanced technology drives growth (Q2 2020 Financial Highlights):

-Revenue was RMB 6.27 billion, a record high in the second quarter. On a

comparable basis, taking into account the accounting change in revenue

recognition, it was an increase of 55.3% year on year (see note).

-Generated RMB 1.00 billion cash from operations, up 54.9% year on year. With

net capex investments of RMB 0.64 billion, free cash flow for the quarter was

RMB 0.36 billion.

-Net profit was RMB 0.23 billion, a record high second quarter in the past five years.

-Earnings per share was RMB 0.15, as compared to RMB -0.13 in Q2 2019.

Note: During the reporting period, we optimized the business model for the

purchase and sale of certain packaged products, of which JCET Group no longer

bears the general inventory risk on the main raw materials. In accordance with

PRC GAAP, both revenue and costs of goods sold were recorded on the net basis

and decreased by RMB 0.93 billion respectively. This change had no impact on

the company's net profit. Assuming that revenue was still recognized by the

gross method (should be recorded on the net basis according to PRC GAAP), it

would be RMB 7.20 billion, an increase of 55.3% over the same period last year.

Global leading semiconductor microsystem integration packaging and test

provider, JCET Group (SH: 600584) reported financial results for the second

quarter 2020, ended June 30th, 2020. Revenue was RMB 6.27 billion and net

profit was RMB 0.23 billion, both a record second quarter high in the past five

years. These results show that JCET's investment in the development of advanced

packaging and test technologies has begun to bear fruit.

Mr. Li Zheng, Chief Executive Officer of JCET Group, said, "Following our

strong Q1 with this Q2 performance shows that JCET is benefiting from the

strengths of our three global manufacturing hubs, and the continuous

improvement of our operational excellence. The rapid development of the 5G

communications industry and high-performance computing applications has

increased the demand for advanced packaging technologies and manufacturing

processes. JCET Group's global supply chain resources and strong portfolio of

advanced technology combined with our world-class management team will continue

to provide our global customers with industry-leading semiconductor packaging,

test and design services."

Ms. Janet Chou, Chief Financial Officer of JCET Group, said, "JCET delivered

solid second quarter results with improvement in key financial metrics. Our

performance demonstrated our commitment to drive profitable growth and cash

generation."

About JCET Group:

JCET Group is a leading global semiconductor system integration packaging and

test 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.

SOURCE: JCET Group