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JCET Q2 2024 Net Profit Attributable to the Parent Increased by 258% Quarter-on-Quarter, Hitting a Record High for Revenue

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Q2 2024 Financial Highlights:

  • Revenue was RMB 8.64 billion, an increase of 36.9% year-on-year and 26.3% quarter-on-quarter. A record high Q2 in the company’s history.
  • Generated RMB 1.65 billion cash from operations. With net capex investments of RMB 0.93 billion, free cash flow for the quarter was RMB 0.72 billion.
  • Net profit attributable to owners of the parent was RMB 0.48 billion, an increase of 25.5% year-on-year and 258.0% quarter-on-quarter.
  • Earnings per share was RMB 0.27, as compared to RMB 0.22 in Q2 2023.

1H 2024 Financial Highlights:

  • Revenue was RMB 15.49 billion, an increase of 27.2% year-on-year.
  • Generated RMB 3.03 billion cash from operations. With net capex investments of RMB 1.87 billion, free cash flow for the first half of 2024 was RMB 1.16 billion.
  • Net profit attributable to owners of the parent was RMB 0.62 billion, an increase of 25.0% year-on-year.
  • Earnings per share was RMB 0.35, as compared to RMB 0.28 in 1H 2023.

SHANGHAI, Aug. 23, 2024 /PRNewswire/ — 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 first half year of 2024. The financial report shows that in the first half of 2024, JCET achieved revenue of RMB 15.49 billion, and net profit attributable to owners of the parent of RMB 0.62 billion, both increased over 25%. In Q2 2024 JCET achieved revenue of RMB 8.64 billion, an increase of 36.9% year-on-year, a record high Q2 in the company’s history, and net profit attributable to owners of the parent of RMB 0.48 billion, an increase of 25.5% year-on-year and 258.0% quarter-on-quarter, generating RMB 1.65 billion cash from operations.

During the reporting period, the company’s capacity utilization has significantly increased, with enlarged investment to expand production capacity of core production lines. In the first half of the year, the revenue of communications, computing, and consumer electronics businesses increased respectively by 48%, 23%, and 33% year-on-year. The company is consistently strengthening the research and development in advanced packaging technologies, with R&D investment of RMB 0.82 billion in 1H 2024, a year-on-year increase of 22.4%.

JCET is also actively promoting strategic projects to enhance its smart manufacturing. After two years construction, the new advanced packaging factory “JCET Microelectronics Wafer-level Microsystems Integration High-end Manufacturing Base” with an area of over 130,000 square meters is progressing with equipment mobilization. The new automotive chip back-end manufacturing base has completed building the factory structure. The acquisition of a high-density memory chip packaging factory has obtained necessary approvals, and the project is progressing towards completion.

Mr. Li Zheng, CEO of JCET, said, “JCET actively promotes innovative applications of advanced packaging technologies and continues to expand its production capacity in China, Singapore and South Korea, with steady growth in performance in the first half of 2024. The company will continue to increase investment in R&D and strategic projects, strengthen innovation cooperation in the industrial chain and sustainable development, and create higher value for shareholders, customers, employees and society.”

For more information, please refer to the JCET 1H FY2024 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 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, eight 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.

CONSOLIDATED BALANCE SHEET (Unaudited)

RMB in millions

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Jun 30, 2024

Dec 31, 2023

ASSETS

Current assets

  Currency funds

10,621

7,325

  Trading financial assets

1,605

2,306

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  Derivative financial assets

0

4

  Accounts receivable

4,066

4,185

  Receivables financing

71

38

  Prepayments

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132

104

  Other receivables

115

87

  Inventories

3,408

3,195

  Other current assets

393

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375

Total current assets

20,411

17,619

Non-current assets

  Long-term receivables

31

33

  Long-term equity investments

666

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695

  Other equity investments

434

447

  Investment properties

84

86

  Fixed assets

18,408

18,744

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  Construction in progress

2,039

1,053

  Right-of-use assets

519

563

  Intangible assets

659

662

  Goodwill

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2,262

2,248

  Long-term prepaid expenses

13

17

  Deferred tax assets

377

364

  Other non-current assets

66

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48

Total non-current assets

25,558

24,960

Total assets

45,969

42,579

LIABILITIES AND EQUITY  

Jun 30, 2024

Dec 31, 2023

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Current liabilities

  Short-term borrowings

467

1,696

  Derivative financial liabilities

2

0

  Notes payable

300

223

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  Accounts payable

5,773

4,782

  Contract liabilities

260

185

  Employee benefits payable

732

781

  Taxes and surcharges payable

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116

167

  Other payables

368

354

  Current portion of long-term liabilities

1,806

1,491

  Other current liabilities

2

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3

Total current liabilities

9,826

9,682

Non-current liabilities

  Long-term borrowings

7,749

5,777

  Lease liabilities

480

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530

  Long-term payables

3

0

  Long-term employee benefits payable

14

14

  Deferred income

438

384

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  Other non-current liabilities

38

41

Total non-current liabilities

8,722

6,746

Total liabilities

18,548

16,428

Equity

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  Paid-in capital

1,789

1,789

  Capital reserves

15,228

15,237

  Accumulated other comprehensive income

591

543

  Specialized reserves

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1

0

  Surplus reserves

257

257

  Unappropriated profit

8,680

8,239

Total equity attributable to owners of the parent

26,546

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26,065

Minority shareholders

875

86

Total equity

27,421

26,151

Total liabilities and equity

45,969

42,579

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CONSOLIDATED INCOME STATEMENT (Unaudited)

RMB in millions, except share data

Three months ended

Six months ended

Jun 30, 2024

Jun 30, 2023

Jun 30, 2024

Jun 30, 2023

Revenue

8,645

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6,313

15,487

12,173

Less: Cost of sales

7,410

5,359

13,417

10,525

          Taxes and surcharges

22

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27

35

47

          Selling expenses

64

51

118

100

          Administrative expenses

209

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175

433

347

          Research and development expenses

438

360

819

669

          Finance expenses

(19)

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(7)

(11)

51

            Including: Interest expenses

99

68

192

131

                     Interest income

80

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27

141

35

Add: Other income

47

40

86

73

         Investment income / (loss)

(4)

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(24)

(14)

(21)

            Including: Income / (loss) from investments in associates and joint ventures

(12)

(10)

(29)

(21)

         Gain / (loss) on changes in fair value of financial assets/liabilities 

0

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37

(5)

46

         Credit impairment (loss is expressed by “-“)

(14)

(6)

(7)

(1)

         Asset impairment (loss is expressed by “-“)

(20)

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(5)

(38)

0

         Gain / (loss) on disposal of assets 

2

13

5

16

Operating profit / (loss)

532

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403

703

547

Add: Non-operating income

0

2

1

3

Less: Non-operating expenses

2

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0

2

4

Profit / (loss) before income taxes

530

405

702

546

Less: Income tax expenses

47

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19

85

50

Net profit / (loss) 

483

386

617

496

Classified by continuity of operations

  Profit / (loss) from continuing operations

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483

386

617

496

Classified by ownership

  Net profit / (loss) attributable to owners of the parent

484

386

619

496

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  Net profit / (loss) attributable to minority shareholders

(1)

0

(2)

0

Add: Unappropriated profit at beginning of period

8,374

7,264

8,239

7,154

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Less: Cash dividends declared

178

358

178

358

Unappropriated profit at end of period (attributable to owners of the parent)

8,680

7,292

8,680

7,292

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Other comprehensive income, net of tax

36

481

48

350

Comprehensive income attributable to owners of the parent

36

481

48

350

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Comprehensive income not be reclassified to profit or loss

(8)

6

(13)

17

  Remeasurement gains or losses of a defined benefit plan

0

0

0

1

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  Change in the fair value of other equity investments

(8)

6

(13)

16

Comprehensive income to be reclassified to profit or loss

44

475

61

333

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  Exchange differences of foreign currency financial statements

44

475

61

333

Total comprehensive income

519

867

665

846

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  Including:

     Total comprehensive income attributable to owners of the parent

520

867

667

846

     Total comprehensive income attributable to minority shareholders

(1)

0

(2)

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0

Earnings per share

  Basic earnings per share

0.27

0.22

0.35

0.28

  Diluted earnings per share

0.27

0.22

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0.35

0.28

CONSOLIDATED CASH FLOW STATEMENT (Unaudited) 

RMB in millions

Three months ended

Six months ended

Jun 30, 2024

Jun 30, 2023

Jun 30, 2024

Jun 30, 2023

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CASH FLOWS FROM OPERATING ACTIVITIES

  Cash receipts from the sale of goods and the rendering of services

8,784

6,178

16,590

13,162

  Receipts of taxes and surcharges refunds

81

122

198

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216

  Other cash receipts relating to operating activities

181

110

283

163

Total cash inflows from operating activities

9,046

6,410

17,071

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13,541

  Cash payments for goods and services

6,078

4,069

11,254

8,454

  Cash payments to and on behalf of employees

1,056

878

2,248

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2,072

  Payments of all types of taxes and surcharges

197

254

289

466

  Other cash payments relating to operating activities

61

22

253

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128

Total cash outflows from operating activities

7,392

5,223

14,044

11,120

Net cash flows from operating activities

1,654

1,187

3,027

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2,421

CASH FLOWS FROM INVESTING ACTIVITIES

  Cash receipts from returns of investments

4,800

4,350

9,050

8,280

  Cash receipts from investment income

2

38

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15

52

  Net cash receipts from disposal of fixed assets, intangible assets and other long-term assets

2

7

5

32

Total cash inflows from investing activities

4,804

4,395

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9,070

8,364

  Cash payments to acquire fixed assets, intangible assets and other long-term assets

937

749

1,870

1,588

  Cash payments for investments

4,650

3,200

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8,350

5,980

Total cash outflows from investing activities

5,587

3,949

10,220

7,568

Net cash flows from investing activities

(783)

446

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(1,150)

796

CASH FLOWS FROM FINANCING ACTIVITIES

  Cash proceeds from investments by others

6

230

776

230

      Including: Cash receipts from capital contributions from minority shareholders of subsidiaries

0

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86

765

86

  Cash receipts from borrowings

728

1,317

3,007

1,664

Total cash inflows from financing activities

734

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1,547

3,783

1,894

  Cash repayments for debts

657

755

1,963

1,740

  Cash payments for distribution of dividends or profit and interest expenses

272

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414

352

467

  Other cash payments relating to financing activities

34

16

53

48

Total cash outflows from financing activities

963

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1,185

2,368

2,255

Net cash flows from financing activities

(229)

362

1,415

(361)

EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS

2

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45

4

37

NET INCREASE IN CASH AND CASH EQUIVALENTS

644

2,040

3,296

2,893

Add: Cash and cash equivalents at beginning of period

9,977

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3,306

7,325

2,453

CASH AND CASH EQUIVALENTS AT END OF PERIOD

10,621

5,346

10,621

5,346

 

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Fintech PR

London Blockchain Series announces first Finance Summit in partnership with Clifford Chance

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Unlocking the blockchain advantage for Financial Services

Leading global financial services providers to share insights and experience

LONDON, April 1, 2025 /PRNewswire/ — The London Blockchain events series will be hosting its first Finance Summit in partnership with Clifford Chance, Tokenovate, Global Digital Finance and European Blockchain Association. The groundbreaking event set for 3 June 2025 in Canary Wharf, London will bring together industry leaders, innovators, and decision-makers at the intersection of blockchain technology and finance.

As the financial sector continues to evolve amidst rapid technological advancements, this summit presents a unique opportunity to explore how blockchain is reshaping the future of finance. 

From revolutionising payment systems to transforming asset management, delegates will experience a day of insightful discussions, networking, and hands-on learning, all designed to equip them with the knowledge and connections necessary to thrive in this dynamic landscape. 

The panel discussions will cover key topics, including:

  • How blockchain is revolutionising payments, asset management, and operational resilience
  • Comprehensive guide to regulatory changes across the UK, EU, and US and the impact on the finance industry
  • The rise of digital currencies, stablecoins, and CBDCs, and what they mean for different organisations
  • How to integrate blockchain with legacy financial systems and measure real ROI

Alex Stein, Conference Director, London Blockchain said, “Blockchain is no longer just a buzzword; it is actively and rapidly transforming the way financial services operate, from payments to regulatory compliance. Blockchain is reshaping finance, and this summit will focus on what really matters to anyone in the financial sector such as real-world impact and the future of financial services. The summit will be a day of practical insights, actionable strategies, and real-world case studies.”

The summit will feature spokespeople from major global organisations, including:

  • Paul Landless, Partner at Clifford Chance
  • Sabih Behzad, Managing Director, Head of Digital Assets and Currencies Transformation at Deutsche Bank
  • Bilal Jafar, Hedge Fund & Crypto Correspondent at Dow Jones
  • Emma Lovett, Executive Director – Markets DLT at J.P. Morgan
  • Konstantinos Adamos, Group Lead Legal Counsel at Revolut

The full day session, which is free to register, will provide a unique opportunity to learn from industry pioneers driving blockchain adoption and discover how blockchain enhances transparency, compliance and efficiency and can transform the financial system to meet future demands. Representatives from Vodafone, Credit Suisse, Schroders and UBS amongst others will also be speaking at the event.

Interested parties can register for a complimentary pass to attend this innovative event that will bring together industry leaders, innovators, and decision-makers at the intersection of blockchain technology and finance.

About the London Blockchain Conference:

UNITING ENTERPRISE, AI & WEB3 

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At the London Blockchain Conference, we show how Blockchain will change the world and help people see another way to manage data, build scalable on-chain solutions and achieve great things. We do this by creating valuable, insightful, and engaging events that educate and inform, allowing you to connect and network to build strong business relationships. Our conference is the best avenue to see blockchain innovations, big ecosystem announcements, new product launches, technology updates, keynote speeches, panels, and fireside chats from blockchain leaders. Join us and experience it for yourself. 

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Bybit Leads March Capital Inflows and Reclaims No.2 in Trading Volume

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DUBAI, UAE, April 1, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has staged a remarkable comeback, recording $3.61 billion in asset inflows in March and reclaiming the No.2 spot in trading volume. The latest inflows serve as a testament to the effectiveness of Bybit’s rapid recovery strategies and its unwavering commitment to user security and transparency.

No. 1 in 1-month Capital Inflows

According to  DeFiLama data, Bybit led centralized exchanges in capital inflows over the past month, adding  $3.61 billion in March and reaching a total value locked (TVL) of $14.9 billion as of March 31, 2025. Over the 31-day period, Bybit’s significant inflows across timeframes (7-day: $612.62 million, 1-month: $3.61 billion) underscore the confidence users have placed in the platform. Bybit has withstood one of the greatest tests in crypto history, setting new benchmarks in rapid recovery strategies across: security recalibration, operational and financial resilience, and trust building.

Bybit Reclaims No. 2 Spot in Trading Volume

Bybit’s introduction of the Retail Price Improvement (RPI) mechanism significantly boosted spot trading volume post-hack, reaffirming its dominance in retail liquidity. RPI orders, tailored specifically for retail clients, drove unparalleled liquidity in key trading pairs like BTC/USDT and ETH/USDT. From February 27 to March 3, Bybit achieved three times the liquidity of the market leader across the top 12 trading pairs.

Throughout this period, Bybit maintained full platform functionality, ensuring uninterrupted withdrawals, new token activities, and robust rewards programs. These strategic efforts not only reinforced user trust but also fueled Bybit’s resurgence, solidifying its position as the go-to exchange for traders worldwide.

New data from CoinGecko (April 1, 2025) confirms that Bybit has reclaimed its position as the world’s second-largest cryptocurrency exchange by trading volume.

Business As Usual: New Token Activities, Innovation, and Rewards

Bybit’s ability to bounce back is driven by several factors, including favorable market conditions and a more constructive regulatory environment under the new U.S. administration. More importantly, Bybit has remained laser-focused on delivering a best-in-class user experience, offering continuous rewards, innovative product features, and seamless service.

Bybit introduced multiple new token listings, including WAL, PARTI, CORN, and NEAR, alongside exciting airdrop campaigns. Notably, the Bybit Web3 AI-DOL Superstar competition—the first Web3 idol competition—showcased the platform’s ability to drive engagement and innovation in decentralized finance.

The spectrum of new initiatives and rewards events demonstrated Bybit’s capability to fend off major crises and to generate post-crisis growth, as is reflected in the positive capital inflows in March.

“We do not let setbacks define us. Bybit remains committed to our users and the broader crypto community, ensuring continuous innovation and stability. Our capability to sustain operations and roll out new initiatives, even during challenging times, demonstrates our resilience, dedication to long-term growth, and the strong support we receive from the industry,” said Joan Han, Sales and Marketing Director of Bybit.

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Bybit is also committed to long-term programs for trust-building, transparency and accountability. Users and stakeholders may keep up with Bybit’s regular Proof-of-Reserves updates and the Bybit-led initiative to combat the circulation of illicit funds in the crypto ecosystem, LazarusBounty. The platform is an ongoing project for individuals and groups within the cryptosphere to contribute to the fight against bad actors while receiving rewards and recognition, with over $2.2 million in bounties already awarded to verified contributors.

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
For updates, please follow: Bybit’s Communities and Social Media

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Antier Shapes the Future of Real World Asset Tokenization in Sync with Dubai’s Bold Move

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Antier, the world’s largest Blockchain Development Company, is expanding its Real Estate Tokenization Platform Development services to the UAE region to accelerate the adoption of tokenization.

NOTTINGHAM, England, April 1, 2025 /PRNewswire/ — Behind every real estate asset lies a story — a vision of ownership, an opportunity for investment, and a pathway to financial freedom. Antier is making this vision a reality through its cutting-edge Real Estate Tokenization Platform, which is designed to transform how real estate is bought, sold, and invested in across borders.

Antier’s End-to-End RWA Tokenization Solutions Set a Global Benchmark

With over 100+ successful RWA Tokenization platform implementations in more than 20+ countries, Antier brings unmatched expertise in developing robust, compliant, and scalable tokenization ecosystems. As the tokenized asset market is expected to hit $16 trillion by 2030 (Boston Consulting Group), Antier is emerging as a key enabler for enterprises, governments, and financial institutions ready to embrace the token economy.

“We’re building the infrastructure to revolutionize property ownership, not just by changing perceptions but by creating real empowerment, accessibility, and diverse investment opportunities,” said Vikram R Singh, CEO and Founder of Antier.

With real estate tokenization projected to grow significantly, market insights suggest that tokenized real estate could make up 7% of total property transactions in Dubai alone, reaching an estimated $16 billion by 2033. Antier sees this as a pivotal moment to bridge the gap between traditional real estate markets and the future of digital assets. The tokenization initiative will benefit a broad spectrum of stakeholders, including:

  • Real estate development firms
  • Property brokers and investment companies
  • Fintech organizations
  • Individual and institutional investors
  • Tech-driven real estate platforms

Comprehensive Tokenization Solutions: A Stack of Innovation

Antier offers end-to-end tokenization platform services designed to address the specific challenges and opportunities within the real estate market, including:

  • Fractional Ownership Platforms: For investors to buy and trade fractional shares of real estate assets and fractionalize access to high-value properties.
  • Blockchain-powered Title Management: Unlock transparent and secure property deed registration through the blockchain.
  • Liquidity Enhancement: This creates accessible investment opportunities for a wider range of investors and makes real estate trading more fluid and seamless.
  • Regulatory Compliance: Navigate stringent regulatory requirements to ensure full compliance with financial standards.

Global Footprint and Proven Execution

With a blockchain workforce of over 600+ professionals, Antier has deployed a wide range of RWA tokenization and DeFi projects globally. The firm has successfully implemented tokenization platforms for clients in Switzerland, UAE, UK, Singapore, and the U.S., including enterprise-grade solutions for institutional asset managers, real estate developers, and government agencies.

Each project follows a compliance-first architecture with embedded KYC/AML workflows, regulatory auditability, and enterprise-grade security—ensuring that clients are ready to meet evolving global standards.

“We view security as the core of everything we do. It’s not an add-on; it’s our promise. Our platform integrates multi-layered protection mechanisms, including encryption, multi-signature authentication, and rigorous regulatory checks to ensure every transaction is secure, transparent, and compliant,” added Vikram R Singh.

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Inspiration from Global Successes

Antier’s real estate tokenization strategy draws inspiration from successful global examples, such as Dubai’s blockchain-powered real estate tokenization pilot. Antier’s approach focuses on:

  • Collaborative partnerships with real estate firms
  • Customized technological solutions tailored to each client’s needs
  • Robust security protocols to ensure peace of mind
  • Continuous regulatory compliance to meet evolving standards
  • User-friendly platforms that simplify complex processes

Synergy with Dubai’s RWA Tokenization Vision

Dubai is rapidly positioning itself as a global leader in Web3 and tokenized finance. The Dubai Financial Services Authority (DFSA) recently released clear guidelines for tokenized securities and real-world assets, setting the stage for institutional adoption.

Dubai’s proactive regulatory environment is a perfect match for our RWA solutions,” said Vikram R. Singh, Founder & CEO of Antier. “As tokenization reshapes global finance, we’re proud to provide the infrastructure needed to bridge the gap between traditional finance and Web3.”

Antier is already engaged with partners and clients in the UAE to develop tokenized marketplaces aligned with Dubai’s long-term digital asset strategy. Its commitment to regulatory clarity, deep tech, and real-world delivery positions it as a strategic catalyst in the region’s Web3 transformation. Its future goals include:

  • Continuous technology innovation to enhance platform capabilities.
  • Expanding tokenization services across the Middle East.
  • Offering comprehensive implementation support for clients.
  • Empowering real estate firms to take advantage of emerging technologies.

About Antier

Antier is a global leader in blockchain development, recognized for pioneering innovative solutions across various industries. The company is committed to leveraging blockchain technology to bring about a more transparent, secure, and decentralized world for businesses and investors alike. With its deep expertise in real estate tokenization, Antier is reshaping how assets are traded, opening up new investment opportunities for a more inclusive financial future.

Website: https://www.antiersolutions.com/
Telegram: https://t.me/AntierTeam
Facebook: https://www.facebook.com/antiersolutions
Linkedin: https://www.linkedin.com/company/antiersolutions/

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