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

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 |
||||||||
Jun 30, 2024 |
Dec 31, 2023 |
||||||||
ASSETS |
|||||||||
Current assets |
|||||||||
Currency funds |
10,621 |
7,325 |
|||||||
Trading financial assets |
1,605 |
2,306 |
|||||||
Derivative financial assets |
0 |
4 |
|||||||
Accounts receivable |
4,066 |
4,185 |
|||||||
Receivables financing |
71 |
38 |
|||||||
Prepayments |
132 |
104 |
|||||||
Other receivables |
115 |
87 |
|||||||
Inventories |
3,408 |
3,195 |
|||||||
Other current assets |
393 |
375 |
|||||||
Total current assets |
20,411 |
17,619 |
|||||||
Non-current assets |
|||||||||
Long-term receivables |
31 |
33 |
|||||||
Long-term equity investments |
666 |
695 |
|||||||
Other equity investments |
434 |
447 |
|||||||
Investment properties |
84 |
86 |
|||||||
Fixed assets |
18,408 |
18,744 |
|||||||
Construction in progress |
2,039 |
1,053 |
|||||||
Right-of-use assets |
519 |
563 |
|||||||
Intangible assets |
659 |
662 |
|||||||
Goodwill |
2,262 |
2,248 |
|||||||
Long-term prepaid expenses |
13 |
17 |
|||||||
Deferred tax assets |
377 |
364 |
|||||||
Other non-current assets |
66 |
48 |
|||||||
Total non-current assets |
25,558 |
24,960 |
|||||||
Total assets |
45,969 |
42,579 |
|||||||
LIABILITIES AND EQUITY |
Jun 30, 2024 |
Dec 31, 2023 |
|||||||
Current liabilities |
|||||||||
Short-term borrowings |
467 |
1,696 |
|||||||
Derivative financial liabilities |
2 |
0 |
|||||||
Notes payable |
300 |
223 |
|||||||
Accounts payable |
5,773 |
4,782 |
|||||||
Contract liabilities |
260 |
185 |
|||||||
Employee benefits payable |
732 |
781 |
|||||||
Taxes and surcharges payable |
116 |
167 |
|||||||
Other payables |
368 |
354 |
|||||||
Current portion of long-term liabilities |
1,806 |
1,491 |
|||||||
Other current liabilities |
2 |
3 |
|||||||
Total current liabilities |
9,826 |
9,682 |
|||||||
Non-current liabilities |
|||||||||
Long-term borrowings |
7,749 |
5,777 |
|||||||
Lease liabilities |
480 |
530 |
|||||||
Long-term payables |
3 |
0 |
|||||||
Long-term employee benefits payable |
14 |
14 |
|||||||
Deferred income |
438 |
384 |
|||||||
Other non-current liabilities |
38 |
41 |
|||||||
Total non-current liabilities |
8,722 |
6,746 |
|||||||
Total liabilities |
18,548 |
16,428 |
|||||||
Equity |
|||||||||
Paid-in capital |
1,789 |
1,789 |
|||||||
Capital reserves |
15,228 |
15,237 |
|||||||
Accumulated other comprehensive income |
591 |
543 |
|||||||
Specialized reserves |
1 |
0 |
|||||||
Surplus reserves |
257 |
257 |
|||||||
Unappropriated profit |
8,680 |
8,239 |
|||||||
Total equity attributable to owners of the parent |
26,546 |
26,065 |
|||||||
Minority shareholders |
875 |
86 |
|||||||
Total equity |
27,421 |
26,151 |
|||||||
Total liabilities and equity |
45,969 |
42,579 |
|||||||
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 |
6,313 |
15,487 |
12,173 |
|||||
Less: Cost of sales |
7,410 |
5,359 |
13,417 |
10,525 |
|||||
Taxes and surcharges |
22 |
27 |
35 |
47 |
|||||
Selling expenses |
64 |
51 |
118 |
100 |
|||||
Administrative expenses |
209 |
175 |
433 |
347 |
|||||
Research and development expenses |
438 |
360 |
819 |
669 |
|||||
Finance expenses |
(19) |
(7) |
(11) |
51 |
|||||
Including: Interest expenses |
99 |
68 |
192 |
131 |
|||||
Interest income |
80 |
27 |
141 |
35 |
|||||
Add: Other income |
47 |
40 |
86 |
73 |
|||||
Investment income / (loss) |
(4) |
(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 |
37 |
(5) |
46 |
|||||
Credit impairment (loss is expressed by “-“) |
(14) |
(6) |
(7) |
(1) |
|||||
Asset impairment (loss is expressed by “-“) |
(20) |
(5) |
(38) |
0 |
|||||
Gain / (loss) on disposal of assets |
2 |
13 |
5 |
16 |
|||||
Operating profit / (loss) |
532 |
403 |
703 |
547 |
|||||
Add: Non-operating income |
0 |
2 |
1 |
3 |
|||||
Less: Non-operating expenses |
2 |
0 |
2 |
4 |
|||||
Profit / (loss) before income taxes |
530 |
405 |
702 |
546 |
|||||
Less: Income tax expenses |
47 |
19 |
85 |
50 |
|||||
Net profit / (loss) |
483 |
386 |
617 |
496 |
|||||
Classified by continuity of operations |
|||||||||
Profit / (loss) from continuing operations |
483 |
386 |
617 |
496 |
|||||
Classified by ownership |
|||||||||
Net profit / (loss) attributable to owners of the parent |
484 |
386 |
619 |
496 |
|||||
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 |
|||||
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 |
|||||
Other comprehensive income, net of tax |
36 |
481 |
48 |
350 |
|||||
Comprehensive income attributable to owners of the parent |
36 |
481 |
48 |
350 |
|||||
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 |
|||||
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 |
|||||
Exchange differences of foreign currency financial statements |
44 |
475 |
61 |
333 |
|||||
Total comprehensive income |
519 |
867 |
665 |
846 |
|||||
Including: |
|||||||||
Total comprehensive income attributable to owners of the parent |
520 |
867 |
667 |
846 |
|||||
Total comprehensive income attributable to minority shareholders |
(1) |
0 |
(2) |
0 |
|||||
Earnings per share |
|||||||||
Basic earnings per share |
0.27 |
0.22 |
0.35 |
0.28 |
|||||
Diluted earnings per share |
0.27 |
0.22 |
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 |
||||||
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 |
216 |
|||||
Other cash receipts relating to operating activities |
181 |
110 |
283 |
163 |
|||||
Total cash inflows from operating activities |
9,046 |
6,410 |
17,071 |
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 |
2,072 |
|||||
Payments of all types of taxes and surcharges |
197 |
254 |
289 |
466 |
|||||
Other cash payments relating to operating activities |
61 |
22 |
253 |
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 |
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 |
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 |
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 |
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 |
(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 |
86 |
765 |
86 |
|||||
Cash receipts from borrowings |
728 |
1,317 |
3,007 |
1,664 |
|||||
Total cash inflows from financing activities |
734 |
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 |
414 |
352 |
467 |
|||||
Other cash payments relating to financing activities |
34 |
16 |
53 |
48 |
|||||
Total cash outflows from financing activities |
963 |
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 |
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 |
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
NYSE Content Advisory: Pre-Market Update and Lynn Martin announced as a jury president for Money20/20’s global fintech awards
NEW YORK, April 2, 2025 /PRNewswire/ — The New York Stock Exchange (NYSE) provides a daily pre-market update directly from the NYSE Trading Floor. Access today’s NYSE Pre-market update for market insights before trading begins.
Kristen Scholer delivers the pre-market update on April 2nd
- SmartStop Self Storage (NYSE:SMA), the operator of self-storage facilities in the United States and Canada, is debuting today on the New York Stock Exchange.
- While IPOs and President Donald Trump’s tariffs remain in the spotlight, economic data this week is also ramping up with the ADP private payrolls figure showing economists anticipated 120,000 jobs were added last month up from 77,000 jobs in February.
- This morning, Money20/20 named NYSE President Lynn Martin as the diamond category jury president for The Money Awards, its inaugural global awards to recognize the companies shaping the future of financial services.
Watch NYSE TV Live every weekday 9:00-10:00am ET

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Fintech PR
Alternative Payment Methods Set to Increase by 170% Driven by a Surge in Domestic Digital Wallets, Instant and QR Payments

Domestic APMs are outpacing international APMs to become the primary way for emerging markets to interact in the digital payment world
NEW YORK, April 2, 2025 /PRNewswire/ — According to global intelligence firm ABI Research, the total combined worldwide value of transactions for the APM market (digital wallets, instant payments, and QR payments) will reach US$ 142 trillion by the end of 2030. This exponential growth is driven by an increasing number of countries looking for financial sovereignty rather than relying on international players.
“Growth of APMs in domestic markets is being galvanized by economies transitioning from cash to digital payments, like those in East Asia and Latin America. This drive is due to these economies not having to integrate an existing card-dominated payment ecosystem into their digital platform. Instead, they can start fresh from the ground up, which has led to an innovation-driven ecosystem and the rise of a richer shopping experience through super apps, as well as creating an opportunity to foster interoperability between domestic networks in other markets,” explains Ash Robinson, Analyst at ABI Research.
An estimated 45% of people globally used a digital wallet in 2024. China had the highest digital wallet usage, with 95% of people using WeChat (a Chinese Super app) in 2024. At the end of 2025, instant payments will total US27.94 trillion in transaction value, with this growth being driven heavily by Pix (Brazil) and UPI (India) as both platforms transition from an Instant Payment-only platform to one encompassing QR payments and wider digital wallet usage. In 2024, two-thirds of all global online payments were conducted through domestic Alternative Payment Methods (APMs), highlighting their increasing preference for online transactions.
“While niche in Europe and North America, QR payments have seen a large boom in cash-dominated markets in Asia-Pacific, making up most of the US$5.4 trillion of processed transactions. Like digital wallets, they offer substantially more than just the ability to process payments. Platforms like WeChat offer chat services and social media tied into their payment functions, creating a more community-based payment ecosystem than what is traditionally found in QR payment systems in Europe and North America,” Robinson concludes.
These findings are from ABI Research’s The Rise of Domestic Alternate Payment Systems report. This report is part of the company’s Digital Payment Technologies research service, which includes research, data, and ABI Insights.
About ABI Research
ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers.
ABI Research是一家全球性的技术情报公司,拥有得天独厚的优势,充当终端市场公司和技术解决方案提供商之间的桥梁,通过提供独家研究和专业性指导,推动成功的技术实施和提供经证明可吸引和留住客户的战略,无缝连接这两大主体。
For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.
Contact Info:
Global
Deborah Petrara
Tel: +1.516.624.2558
pr@abiresearch.com
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Fintech PR
BingX Launches StakeStone Launchpool to Unlock Staking and Cross-Chain Liquidity

PANAMA CITY, April 2, 2025 /PRNewswire/ — BingX, a global leading cryptocurrency exchange, is excited to introduce StakeStone (STO) to the BingX Launchpool, offering its users a zero-fee staking experience with real-time earnings visibility and flexible withdrawal options. Running from April 2 to April 7, this initiative provides a gateway to decentralized, cross-chain liquidity while maximizing rewards.
StakeStone is a decentralized omnichain liquidity infrastructure protocol designed to improve liquidity distribution across blockchain networks. Utilizing its omnichain architecture, StakeStone optimizes yield generation, streamlines liquidity provisioning, and enhances asset management. Backed by investors like BingX Labs, an innovation hub dedicated to identifying and empowering promising blockchain projects, StakeStone enhances liquidity distribution across multiple blockchain ecosystems through its proprietary Omnichain Liquidity Layer.
With StakeStone Launchpool on BingX, users can earn sustainable yields while maintaining full flexibility. Key benefits include instant earnings tracking, hassle-free redemption without lock-ups, and exclusive USDT rewards for both new participants and referral-based deposits. This integration simplifies asset management while offering superior yield optimization for DeFi users.
“At BingX, we are always looking for ways to break down barriers and unlock new opportunities for our users,” said Vivien Lin, Chief Product Officer of BingX. “By bringing StakeStone to our Launchpool, we are introducing a more seamless, cost-efficient staking model that empowers our users to maximize yields while benefiting from cross-chain liquidity solutions. This partnership aligns with our vision of making DeFi more accessible, efficient, and rewarding for our global community.”
BingX’s collaboration with StakeStone reflects its ongoing commitment to innovation in DeFi and cross-chain liquidity. As blockchain ecosystems become increasingly interconnected, BingX continues to expand its support for projects that solve critical liquidity fragmentation issues and enhance asset utility. The StakeStone Launchpool is part of BingX’s broader strategy to provide users with cutting-edge decentralized finance solutions, reinforcing its position as a leader in the next phase of DeFi evolution.
About BingX
Founded in 2018, BingX is a leading crypto exchange, serving over 20 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports.
For more information please visit: https://bingx.com/

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