PR99859

SHANGHAI, March 30, 2023 /PRNewswire=KYODO JBN/

Q4 2022 Financial Highlights:

- Revenue was RMB 8.98 billion, an increase of 4.6% year-on-year.

- Generated RMB 1.63 billion cash from operations. With net capex investments

of RMB 1.24 billion, free cash flow for the quarter was RMB 0.39 billion.

- Net profit was RMB 0.78 billion.

- Earnings per share was RMB 0.44, as compared to RMB 0.49 in Q4 2021.

Full Year 2022 Financial Highlights:

- Revenue was RMB 33.76 billion, an increase of 10.7% year-on-year. A record

high in the company's history.

- Generated RMB 6.01 billion cash from operations. With net capex investments

of RMB 3.81 billion, free cash flow was RMB 2.20 billion.

- Net profit was RMB 3.23 billion, a record high in the company's history.

- Earnings per share was RMB 1.82, as compared to RMB 1.72 in 2021.

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

manufacturing and technology services, today announced its full year financial

results for the year ended December 31, 2022. According to the financial

report, in 2022 JCET achieved revenue of RMB 33.76 billion, an increase of

10.7% year-on-year, and net profit attributable to owners of the parent of RMB

3.23 billion, an increase of 9.2% year-on-year.

In 2022, JCET's pioneering efforts in advanced packaging and testing technology

and manufacturing continued to yield results. The company has honed its core

technological capabilities through in-depth collaboration with global

customers, forming a differentiating competitive advantage. The company's

XDFOI™ high-density multi-dimensional heterogeneous integration chiplet

technologies have entered the stage of high volume manufacturing (HVM). The

company now provides multiple customers with HVM advanced packaging solutions

for 4D millimeter-wave radar. During the reporting period, the profit and

revenue contributed by high-performance, high-density system-level packaging

technology and fan-out wafer-level packaging technology showed solid growth

year-on-year. The revenue share of high-value-added products such as computing

electronics and automotive electronics also continued to grow. Revenue from

automotive electronics increased by 85% year-on-year in 2022, while computing

electronics increased by 46% year-on-year. The company gained more test

businesses in areas such as 5G RF, automotive chips, high-performance computing

chips, and related business attributing to a revenue increase of 25%

year-on-year. Over the past three years, the company has achieved positive free

cash flow for 13 consecutive quarters through continuous improvement in

profitability and asset structure, improvement in cash flow capacity, and a

decrease in its asset-to-liability ratio.

Always being customer-centric, JCET has comprehensively and continuously

improved its production and service quality and has been highly recognized by

customers and other parties around the world. At the same time, the company

continues to optimize its production capacity structure and actively meet

customers' medium and long-term needs. The construction of the Microelectronics

Wafer-level Microsystems Integration High-end Manufacturing Project has

steadily progressed. In order to further strengthen the product research and

development capabilities in the field of cutting-edge technology, the company

completed an increase of capital to RMB 1 billion for its wholly-owned

subsidiary, JCET Management Co., Ltd. The construction of an Industry 4.0

intelligent new plant in the company's South Korea factory has been completed,

and the Singapore factory has achieved a series of automated production and

technological upgrades.

Mr. Li Zheng, CEO of JCET said, "In 2022, the company overcame adverse external

factors such as shrinking demand in the end consumer market, and completed new

technology developments in the fields of automotive electronics,

high-performance computing, and other fields as well as the HVM of new products

from several world-renowned customers, laying a solid foundation for the

company's high-quality development in the future. Since the fourth quarter of

2022, the downward pressure on consumer markets such as mobile phones has

remained significant, and the global IC industry is still in a typical downward

cycle. JCET is actively utilizing its flexible global layout and the adjustment

period in which revenue and profit margins are under short-term pressure to

accelerate the active transformation of back-end chip manufacturing processes

to high performance, as well as the automation and intelligent upgrade of

production lines, to provide sufficient preparation for the global market

recovery in the near future, and a new round of application demand growth."

For more information, please refer to the JCET FY2022 Report.

(https://www.jcetglobal.com/uploads/JCET%20Finance%20Report%202022Q4%20V1.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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