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Focusing on Key Applications of Advanced Packaging, JCET Growth Accelerated Quarter-on-Quarter in Q3 2023

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Q3 2023 Financial Highlights:

  • Revenue was RMB 8.26 billion, an increase of 30.8% quarter-on-quarter
  • Net profit was RMB 0.48 billion, an increase of 24% quarter-on-quarter
  • Earnings per share was RMB 0.26

Q3 YTD 2023 Financial Highlights:

  • Revenue was RMB 20.43 billion
  • Net profit was RMB 0.97 billion
  • Earnings per share was RMB 0.54

SHANGHAI, Oct. 27, 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 third quarter of 2023. The financial report shows that in the third quarter, JCET achieved revenue of RMB 8.26 billion, an increase of 30.8% quarter-on-quarter, and net profit of RMB 0.48 billion, an increase of 24% quarter-on-quarter.

JCET has focused on key applications of advanced packaging this year, continuously enhancing its overall solution capabilities for application scenarios, optimizing production capacity layout, and further strengthening its leading position in the global IC packaging and test industry.

JCET has achieved innovative breakthroughs in markets such as automotive electronics, 5G communications, high-performance computing (HPC), and wide bandgap power devices. Seizing market opportunities driven by the acceleration of the electric vehicle market, JCET’s automotive electronics business has maintained rapid growth. In the first three quarters of this year, the company’s automotive electronics revenue increased by 88% year-on-year. In the 5G communications-related market, JCET provided global customers with services in R&D and HVM, further solidifying its leading position in areas including Antenna in Package (AiP) modules, RF power amplifiers (PA), and radio frequency front end (RFFE) modules.

Leveraging high-density heterogeneous SiP technologies and advantageous global production layouts, JCET intensifies its efforts with customers in AI and HPC domains for advanced packaging solutions development and product introductions, accelerating market expansion in high-computation systems, power management, high-performance storage, and smart terminals. In the power semiconductor market, the high-density integration solutions developed by JCET in collaboration with global customers on wide bandgap power devices are widely used in the automotive and industrial energy storage, with ongoing production capacity expansion.

JCET continues to enhance its technological innovation, with R&D investment of RMB 1.08 billion in the first three quarters of 2023, a year-on-year increase of 10.4%. The company continues to promote the construction of high-performance packaging production capacities and upgrade existing factories towards advanced packaging technologies. In addition, JCET improves lean production capabilities, strengthens inventory control and supply chain management, and ensures that the company’s operations remain highly efficient.

Mr. Li Zheng, CEO of JCET, said, “In recent years, JCET, by focusing on high-performance advanced packaging technologies, has made breakthrough progress in collaboration with major customers on the high-end chip business and achieved significant quarter-on-quarter growth in performance for the third quarter of this year. The company will seize new opportunities arising from the restructuring of the global industrial chain and will continue to promote the healthy development of IC back-end manufacturing.”

Click to view: JCET 2023 Third Quarter 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

Sep 30, 2023

Dec 31, 2022

ASSETS

Current assets

  Currency funds

4,678

2,459

  Trading financial assets

3,611

4,316

  Derivative financial assets

0

18

  Accounts receivable

4,652

3,689

  Receivables financing

96

59

  Prepayments

130

110

  Other receivables

73

61

  Inventories

4,190

3,152

  Other current assets

303

279

Total current assets

17,733

14,143

Non-current assets

  Long-term receivables

19

40

  Long-term equity investments

731

765

  Other equity investments

449

440

  Investment properties

87

89

  Fixed assets

19,035

19,517

  Construction in progress

1,076

807

  Right-of-use assets

585

578

  Intangible assets

640

483

  Goodwill

2,278

2,210

  Long-term prepaid expenses

20

28

  Deferred tax assets

266

247

  Other non-current assets

88

61

Total non-current assets

25,274

25,265

Total assets

43,007

39,408

LIABILITIES AND EQUITY  

Sep 30, 2023

Dec 31, 2022

Current liabilities

  Short-term borrowings

1,721

1,174

  Derivative financial liabilities

2

0

  Notes payable

162

339

  Accounts payable

6,274

4,634

  Contract liabilities

203

214

  Employee benefits payable

727

984

  Taxes and surcharges payable

189

210

  Other payables

377

378

  Current portion of long-term liabilities

2,468

3,096

  Other current liabilities

4

4

Total current liabilities

12,127

11,033

Non-current liabilities

  Long-term borrowings

4,027

2,721

  Lease liabilities

537

562

  Long-term employee benefits payable

12

14

  Deferred income

375

340

  Deferred tax liabilities

6

40

  Other non-current liabilities

51

55

Total non-current liabilities

5,008

3,732

Total liabilities

17,135

14,765

Equity

  Paid-in capital

1,789

1,780

  Capital reserves

15,316

15,080

  Accumulated other comprehensive income

679

400

  Specialized reserves

2

0

  Surplus reserves

229

229

  Unappropriated profit

7,771

7,154

Total equity attributable to owners of the parent

25,786

24,643

Minority shareholders

86

0

Total equity

25,872

24,643

Total liabilities and equity

43,007

39,408

 

CONSOLIDATED INCOME STATEMENT (Unaudited)                                                                                                     

RMB in millions, except share data

Three months ended

Nine months ended

Sep 30, 2023

Sep 30, 2022

Sep 30, 2023

Sep 30, 2022

Revenue

8,257

9,184

20,430

24,778

Less: Cost of sales

7,071

7,616

17,596

20,323

          Taxes and surcharges

36

26

82

69

          Selling expenses

55

45

155

142

          Administrative expenses

190

312

536

805

          Research and development expenses

413

343

1,082

980

          Finance expenses

26

(26)

77

(11)

            Including: Interest expenses

84

51

215

143

                     Interest income

35

5

70

21

Add: Other income

103

55

176

138

         Investment income / (loss)

(12)

25

(34)

65

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

(12)

1

(34)

(6)

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

17

(25)

62

(40)

         Credit impairment (loss is expressed by “-“)

(2)

22

(3)

17

         Asset impairment (loss is expressed by “-“)

(26)

(61)

(26)

(125)

         Gain / (loss) on disposal of assets 

5

18

21

41

Operating profit / (loss)

551

902

1,098

2,566

Add: Non-operating income

0

40

3

46

Less: Non-operating expenses

1

0

5

1

Profit / (loss) before income taxes

550

942

1,096

2,611

Less: Income tax expenses

72

33

122

159

Net profit / (loss) 

478

909

974

2,452

Classified by continuity of operations

  Profit / (loss) from continuing operations

478

909

974

2,452

Classified by ownership

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

478

909

974

2,452

  Net profit / (loss) attributable to minority shareholders

0

0

0

0

Add: Unappropriated profit at beginning of period

7,293

5,522

7,154

4,335

Less: Cash dividends declared

0

0

357

356

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

7,771

6,431

7,771

6,431

Other comprehensive income, net of tax

(70)

446

280

832

Comprehensive income attributable to owners of the parent

(70)

446

280

832

Comprehensive income not be reclassified to profit or loss

(7)

(14)

10

(14)

  Remeasurement gains or losses of a defined benefit plan

0

0

1

0

  Change in the fair value of other equity investments

(7)

(14)

9

(14)

Comprehensive income to be reclassified to profit or loss

(63)

460

270

846

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

0

7

0

0

  Cash flow hedge reserve

0

(9)

0

(26)

  Exchange differences of foreign currency financial statements

(63)

462

270

872

Total comprehensive income

408

1,355

1,254

3,284

  Including:

     Total comprehensive income attributable to owners of the parent

408

1,355

1,254

3,284

     Total comprehensive income attributable to minority shareholders

0

0

0

0

Earnings per share

  Basic earnings per share

0.26

0.51

0.54

1.38

  Diluted earnings per share

0.26

0.51

0.54

1.38

 

CONSOLIDATED CASH FLOW STATEMENT (Unaudited)                                                                                                                                                          

RMB in millions

Three months ended

Nine months ended

Sep 30, 2023

Sep 30, 2022

Sep 30, 2023

Sep 30, 2022

CASH FLOWS FROM OPERATING ACTIVITIES

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

7,574

8,201

20,737

25,200

  Receipts of taxes and surcharges refunds

52

126

267

273

  Other cash receipts relating to operating activities

126

87

289

218

Total cash inflows from operating activities

7,752

8,414

21,293

25,691

  Cash payments for goods and services

5,840

5,534

14,293

17,146

  Cash payments to and on behalf of employees

899

948

2,972

3,257

  Payments of all types of taxes and surcharges

180

193

646

694

  Other cash payments relating to operating activities

221

43

349

214

Total cash outflows from operating activities

7,140

6,718

18,260

21,311

Net cash flows from operating activities

612

1,696

3,033

4,380

CASH FLOWS FROM INVESTING ACTIVITIES

  Cash receipts from returns of investments

3,601

3,390

11,881

8,550

  Cash receipts from investment income

15

17

68

55

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

99

76

131

110

  Net cash receipts from disposal of subsidiaries and other business units

0

3

0

30

Total cash inflows from investing activities

3,715

3,486

12,080

8,745

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

845

1,138

2,434

2,688

  Cash payments for investments

5,181

4,101

11,161

10,061

Total cash outflows from investing activities

6,026

5,239

13,595

12,749

Net cash flows from investing activities

(2,311)

(1,753)

(1,515)

(4,004)

CASH FLOWS FROM FINANCING ACTIVITIES

  Cash proceeds from investments by others

32

0

262

0

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

0

0

86

0

  Cash receipts from borrowings

4,823

1,446

6,487

2,961

Total cash inflows from financing activities

4,855

1,446

6,749

2,961

  Cash repayments for debts

3,723

796

5,464

2,530

  Cash payments for distribution of dividends or profit and interest expenses

78

405

545

495

  Other cash payments relating to financing activities

22

169

69

758

Total cash outflows from financing activities

3,823

1,370

6,078

3,783

Net cash flows from financing activities

1,032

76

671

(822)

EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS

(7)

37

30

95

NET INCREASE IN CASH AND CASH EQUIVALENTS

(674)

56

2,219

(351)

Add: Cash and cash equivalents at beginning of period

5,346

2,356

2,453

2,763

CASH AND CASH EQUIVALENTS AT END OF PERIOD

4,672

2,412

4,672

2,412

 

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Invitation to presentation of EQT AB’s Q1 Announcement 2024

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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

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  • 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

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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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