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Focusing on High-performance Advanced Packaging and Global Layout, JCET Achieved Quarter-on-Quarter Growth in Q2 2023

Published

8 months ago

on

focusing-on-high-performance-advanced-packaging-and-global-layout,-jcet-achieved-quarter-on-quarter-growth-in-q2-2023

Q2 2023 Financial Highlights:

  • Revenue was RMB 6.31 billion, an increase of 7.7% quarter-on-quarter.
  • Generated RMB 1.19 billion cash from operations. With net capex investments of RMB 0.75 billion, free cash flow for the quarter was RMB 0.44 billion.
  • Net profit was RMB 0.39 billion, an increase of 250.8% quarter-on-quarter.
  • Earnings per share was RMB 0.22, as compared to RMB 0.39 in Q2 2022.

1H 2023 Financial Highlights:

  • Revenue was RMB 12.17 billion.
  • Generated RMB 2.42 billion cash from operations. With net capex investments of RMB 1.56 billion, free cash flow for the first half of 2023 was RMB 0.86 billion.
  • Net profit was RMB 0.5 billion.
  • Earnings per share was RMB 0.28, as compared to RMB 0.87 in 1H 2022.

SHANGHAI, Aug. 25, 2023 /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 2023. The financial report shows that in the first half of 2023, JCET achieved revenue of RMB 12.17 billion, and net profit of RMB 0.5 billion. In Q2 2023 JCET achieved revenue of RMB 6.31 billion, an increase of 7.7% quarter-on-quarter, and net profit of RMB 0.39 billion, an increase of 250.8% quarter-on-quarter.

In the first half of 2023, the global semiconductor industry was in the fluctuating stage of bottoming out and rebounding. JCET adhered to high-performance advanced packaging technologies and product development mechanism, focusing on solutions for emerging applications such as high performance computing and storage, enhanced strategic layout of production capacity, and further strengthened its market position in the global IC industry.

JCET continues to enhance its technological innovation, with R&D investment of RMB 0.67 billion in the first half of this year, a year-on-year increase of 5.0%. The company’s multi-dimensional fan-out heterogeneous integration solution XDFOI™ for 2.5D/3D packaging achieved HVM, providing high-performance chiplet package solutions and production capacity for global customers. In collaboration with multiple customers in the field of high-density SiP technology, JCET has achieved the development and mass production of multiple RFFE modules and AiP modules in the 5G millimeter-wave market. The company is intensifying its market exploration in sectors such as automotive electronics, industrial electronics, and high-performance computing. During the reporting period, revenue from automotive electronics achieved a year-on-year growth of 130%. The company has established a subsidiary with controlling stake in the Lingang New Area of Shanghai, reinforcing its strategic capacity layout in the field of automotive electronics.

In addition, the company has optimized various operational expenses and asset structures, maintaining a stable cash flow capability. It has achieved positive free cash flow for 15 consecutive quarters.

While pursuing its own development, JCET actively engages in philanthropic efforts, contributing to society in areas such as health and environmental protection, disaster relief during floods, and science popularization initiatives.

Mr. Li Zheng, CEO of JCET, said, “JCET has always centered its focus on customers, and achieved quarter-on-quarter growth in performance for the second quarter of this year. Looking ahead, the direction of high-performance advanced packaging technology driving the innovation of the IC industry has become increasingly clear. JCET remains committed to achieving high-quality development through professional and international management, and will continue to create value for investors and the IC industry.”

For more information, please refer to the JCET 1H FY2023 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 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.

 

 

 

CONSOLIDATED BALANCE SHEET (Unaudited)                                                                

RMB in millions

Jun 30, 2023

Dec 31, 2022

ASSETS

Current assets

  Currency funds

5,352

2,459

  Trading financial assets

2,006

4,316

  Derivative financial assets

0

18

  Accounts receivable

3,545

3,689

  Receivables financing

105

59

  Prepayments

127

110

  Other receivables

63

61

  Inventories

3,003

3,152

  Other current assets

251

279

Total current assets

14,452

14,143

Non-current assets

  Long-term receivables

41

40

  Long-term equity investments

744

765

  Other equity investments

456

440

  Investment properties

87

89

  Fixed assets

19,574

19,517

  Construction in progress

710

807

  Right-of-use assets

567

578

  Intangible assets

483

483

  Goodwill

2,293

2,210

  Long-term prepaid expenses

22

28

  Deferred tax assets

274

247

  Other non-current assets

106

61

Total non-current assets

25,357

25,265

Total assets

39,809

39,408

LIABILITIES AND EQUITY  

Jun 30, 2023

Dec 31, 2022

Current liabilities

  Short-term borrowings

1,211

1,174

  Derivative financial liabilities

2

0

  Notes payable

215

339

  Accounts payable

4,603

4,634

  Contract liabilities

273

214

  Employee benefits payable

689

984

  Taxes and surcharges payable

158

210

  Other payables

396

378

  Current portion of long-term liabilities

2,857

3,096

  Other current liabilities

4

4

Total current liabilities

10,408

11,033

Non-current liabilities

  Long-term borrowings

3,013

2,721

  Lease liabilities

549

562

  Long-term employee benefits payable

11

14

  Deferred income

362

340

  Deferred tax liabilities

14

40

  Other non-current liabilities

41

55

Total non-current liabilities

3,990

3,732

Total liabilities

14,398

14,765

Equity

  Paid-in capital

1,787

1,780

  Capital reserves

15,265

15,080

  Accumulated other comprehensive income

750

400

  Specialized reserves

2

0

  Surplus reserves

229

229

  Unappropriated profit

7,292

7,154

Total equity attributable to owners of the parent

25,325

24,643

Minority shareholders

86

0

Total equity

25,411

24,643

Total liabilities and equity

39,809

39,408

 

 

 

CONSOLIDATED INCOME STATEMENT (Unaudited)                                                                                                     

RMB in millions, except share data

Three months ended

Six months ended

Jun 30, 2023

Jun 30, 2022

Jun 30, 2023

Jun 30, 2022

Revenue

6,313

7,455

12,173

15,594

Less: Cost of sales

5,359

6,107

10,525

12,706

          Taxes and surcharges

27

27

47

43

          Selling expenses

51

48

100

97

          Administrative expenses

175

236

347

494

          Research and development expenses

360

315

669

638

          Finance expenses

(7)

(8)

51

15

            Including: Interest expenses

68

49

131

92

                     Interest income

27

9

35

16

Add: Other income

40

26

73

83

         Investment income / (loss)

(24)

28

(21)

40

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

(10)

(2)

(21)

(7)

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

37

(17)

46

(14)

         Credit impairment (loss is expressed by “-“)

(6)

2

(1)

(5)

         Asset impairment (loss is expressed by “-“)

(5)

(65)

0

(64)

         Gain / (loss) on disposal of assets 

13

9

16

23

Operating profit / (loss)

403

713

547

1,664

Add: Non-operating income

2

1

3

6

Less: Non-operating expenses

0

1

4

1

Profit / (loss) before income taxes

405

713

546

1,669

Less: Income tax expenses

19

31

50

126

Net profit / (loss) 

386

682

496

1,543

Classified by continuity of operations

  Profit / (loss) from continuing operations

386

682

496

1,543

Classified by ownership

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

386

682

496

1,543

  Net profit / (loss) attributable to minority shareholders

0

0

0

0

Add: Unappropriated profit at beginning of period

7,264

5,196

7,154

4,335

Less: Cash dividends declared

358

356

358

356

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

7,292

5,522

7,292

5,522

Other comprehensive income, net of tax

481

419

350

386

Comprehensive income attributable to owners of the parent

481

419

350

386

Comprehensive income not be reclassified to profit or loss

6

0

17

0

  Remeasurement gains or losses of a defined benefit plan

0

0

1

0

  Change in the fair value of other equity investments

6

0

16

0

Comprehensive income to be reclassified to profit or loss

475

419

333

386

  Comprehensive income using the equity method that may be reclassified to profit or loss

0

(7)

0

(7)

  Cash flow hedge reserve

0

(13)

0

(18)

  Exchange differences of foreign currency financial statements

475

439

333

411

Total comprehensive income

867

1,101

846

1,929

  Including:

     Total comprehensive income attributable to owners of the parent

867

1,101

846

1,929

     Total comprehensive income attributable to minority shareholders

0

0

0

0

Earnings per share

  Basic earnings per share

0.22

0.39

0.28

0.87

  Diluted earnings per share

0.22

0.39

0.28

0.87

 

 

 

CONSOLIDATED CASH FLOW STATEMENT (Unaudited)

RMB in millions

Three months ended

Six months ended

Jun 30, 2023

Jun 30, 2022

Jun 30, 2023

Jun 30, 2022

CASH FLOWS FROM OPERATING ACTIVITIES

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

6,178

8,184

13,162

16,999

  Receipts of taxes and surcharges refunds

122

32

216

147

  Other cash receipts relating to operating activities

110

62

163

132

Total cash inflows from operating activities

6,410

8,278

13,541

17,278

  Cash payments for goods and services

4,069

5,766

8,454

11,612

  Cash payments to and on behalf of employees

878

1,060

2,072

2,309

  Payments of all types of taxes and surcharges

254

314

466

501

  Other cash payments relating to operating activities

22

93

128

171

Total cash outflows from operating activities

5,223

7,233

11,120

14,593

Net cash flows from operating activities

1,187

1,045

2,421

2,685

CASH FLOWS FROM INVESTING ACTIVITIES

  Cash receipts from returns of investments

4,350

4,160

8,280

5,160

  Cash receipts from investment income

38

32

52

38

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

7

8

32

34

  Net cash receipts from disposal of subsidiaries and other business units

0

(1)

0

27

Total cash inflows from investing activities

4,395

4,199

8,364

5,259

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

749

651

1,588

1,550

  Cash payments for investments

3,200

4,310

5,980

5,960

Total cash outflows from investing activities

3,949

4,961

7,568

7,510

Net cash flows from investing activities

446

(762)

796

(2,251)

CASH FLOWS FROM FINANCING ACTIVITIES

  Cash proceeds from investments by others

230

0

230

0

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

86

0

86

0

  Cash receipts from borrowings

1,317

985

1,664

1,515

Total cash inflows from financing activities

1,547

985

1,894

1,515

  Cash repayments for debts

755

988

1,740

1,734

  Cash payments for distribution of dividends or profit and interest expenses

414

49

467

90

  Other cash payments relating to financing activities

16

446

48

589

Total cash outflows from financing activities

1,185

1,483

2,255

2,413

Net cash flows from financing activities

362

(498)

(361)

(898)

EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS

45

59

37

57

NET INCREASE IN CASH AND CASH EQUIVALENTS

2,040

(156)

2,893

(407)

Add: Cash and cash equivalents at beginning of period

3,306

2,512

2,453

2,763

CASH AND CASH EQUIVALENTS AT END OF PERIOD

5,346

2,356

5,346

2,356

 

 

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Fintech PR

Invitation to presentation of EQT AB’s Q1 Announcement 2024

Published

4 weeks ago

on

April 5, 2024

By

invitation-to-presentation-of-eqt-ab’s-q1-announcement-2024

STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.

The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.

To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.

The webcast can be followed live here and a recording will be available afterwards.

Information on EQT AB’s financial reporting

The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.

The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.

Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]

Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826

The following files are available for download:

https://mb.cision.com/Main/87/3956826/2712771.pdf

Invitation to presentation of EQT AB’s Q1 Announcement 2024

https://news.cision.com/eqt/i/eqt-ab-group,c3285895

EQT AB Group

 

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Kia presents roadmap to lead global electrification era through EVs, HEVs and PBVs

Published

4 weeks ago

on

April 5, 2024

By

kia-presents-roadmap-to-lead-global-electrification-era-through-evs,-hevs-and-pbvs
  • Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
  • Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
  • Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
    • Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
    • PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
  • Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
  • 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
  • CEO reaffirms Kia’s commitment to ESG management

SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.

Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.

During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.

The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.

“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”

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BioVaxys Technology Corp. Provides Bi-Weekly MCTO Status Update

Published

4 weeks ago

on

April 5, 2024

By

biovaxys-technology-corp.-provides-bi-weekly-mcto-status-update

VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.

As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.

The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.

Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.

About BioVaxys Technology Corp.

BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.

ON BEHALF OF THE BOARD

Signed “James Passin“
James Passin, Chief Executive Officer
Phone: +1 646 452 7054

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