PR100018 

SHANGHAI, April 25, 2023 /PRNewswire=KYODO JBN/

Q1 2023 Financial Summary:

Revenue was RMB 5.86 billion.

Generated RMB 1.23 billion cash from operations. With net capex investments of

RMB 0.81 billion, free cash flow for the quarter was RMB 0.42 billion.

Net profit was RMB 0.11 billion. Earnings per share was RMB 0.06.

JCET Group (SSE: 600584), a leading global provider of integrated circuit (IC)

manufacturing and technology services, today announced its financial results

for the first quarter of 2023. According to the financial report, in Q1 2023

JCET achieved revenue of RMB 5.86 billion, and net profit of RMB 0.11 billion.

Consumer electronics demand has been weak causing chip companies to accumulate

high inventory levels and face increasing market pressure. In order to actively

and effectively respond to market changes, JCET continuously invests in

high-performance, advanced packaging technology, and in fields with

continuously growing demand such as automotive electronics, industrial

electronics, and high-performance computing, to prepare for a new round of

application demand growth.

In recent years, JCET focused on technology development and has achieved HVM of

advanced packaging technologies such as system level (SiP), wafer level, and

2.5D/3D. In Q1 2023, the proportion of advanced packaging revenue in the

company's revenue continuously exceeded 60%, becoming the "ballast stone" for

the company's development. JCET invested RMB 1.31 billion in R&D in 2022, a

year-on-year increase of 10.7%; in the first quarter of this year, R&D

investment was RMB 0.31 billion, accounting for 5.3% of revenue. JCET has made

breakthroughs in the field of chiplet technology, achieving ultra-large

high-density fan-out flip chip heterogeneous integration of multiple chips in

packages as large as 102mm x 102mm. It is also supported with a complete set of

turnkey services from design to production, providing excellent microsystem

integration solutions for high-performance computing applications.

In the field of automotive electronics, the company accelerates the R&D of

advanced packaging technologies related to electric vehicles and autonomous

driving with high-reliability standards, as well as the development of

next-generation power device modules and other products, enhancing the

differentiated competitiveness of advanced technologies and services and

implementing them at their factories. In Q1 2023, the revenue of automotive

electronics continued to grow with a year-on-year increase of 144%.

In 2023, JCET will maintain a reasonable level of growth in total capital

expenditure, expanding production capacity to meet customer needs, while

actively expanding the company's investment in R&D, infrastructure,

technological innovation, and factory automation upgrades.

Mr. Li Zheng, CEO of JCET said, "The combination of several factors has

resulted in a sustained downturn in the semiconductor market. Although the

short-term performance is under pressure, JCET will continuously adhere to the

strategy of promoting international and domestic business, increase investment

in cutting-edge technology and resources, and focus on higher-level packaging

technologies such as automotive electronic chips and diversified solutions for

chiplet. The company will carry out forward-looking infrastructure, R&D, and

strategic production capacity expansion, accelerate the product development and

market promotion mechanisms centered on intelligent solutions, explore market

demand with greater potential for future development, and provide high-quality

production technology services to global customers."

For more information, please refer to the JCET Q1 2023 Report.

(https://www.jcetglobal.com/uploads/JCET%20Finance%20Report%202023Q1.pdf)

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, six 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.

SOURCE: JCET Group

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