Q1 2024 Financial Highlights:

• Revenue was RMB 6.84 billion, an increase of 16.8% year-on-year.
• Net profit was RMB 0.13 billion, an increase of 21.7% year-on-year.
• Generated RMB 1.37 billion cash from operations. With net capex investments of RMB 0.93 billion, free cash flow for the quarter was RMB 0.44 billion.
• Earnings per share was RMB 0.08, as compared to RMB 0.06 in Q1 2023

SHANGHAI, April 24, 2024 /PRNewswire/ — JCET Group (SSE: 600584), a leading global provider of integrated circuit (IC) back-end manufacturing and technology services, today announced its  financial results for the first quarter of 2024. According to the financial report, in Q1 2024 JCET achieved revenue of RMB 6.84 billion, an increase of 16.8% year-on-year, and net profit of RMB 0.13 billion, an increase of 21.7% year-on-year. The company’s revenue has achieved year-on-year growth for two consecutive quarters.

JCET demonstrates continued success in high-performance advanced packaging and its core applications. Since the second half of 2023, customer demand has gradually recovered and the company’s business performance has continuously rebounded. In the first quarter of this year, JCET continued the trend of steady development, with a healthy inventory turnover. Multiple business fields including communication electronics, computing electronics, and consumer electronics achieved growth compared to the same period last year. The company has strategically increased R&D investment in advanced technology, resulting in stable high-volume manufacturing (HVM) of its multi-dimensional fan-out heterogeneous integration XDFOI technology across multiple JCET factories. This technology offers advanced chiplet packaging solutions for global customers, addressing market demands in high-performance computing (HPC) and high bandwidth memory (HBM).

With a focus on future development, JCET has strengthened its core competitiveness by increasing the capital of its wholly-owned subsidiary, JCET Management Co., Ltd., by RMB 4.5 billion. Doing so further refines its business strategy in automotive electronics, memory and computing electronics.

Mr. Li Zheng, CEO of JCET, said, “JCET has maintained steady business performance in the first quarter of 2024 with double-digit year-on-year growth. As the semiconductor market rebounds, JCET is accelerating production capacity release and fostering joint innovation with customers in high-performance memory, high-performance computing, and high-density power management. These efforts position JCET to play an even more prominent role in the global semiconductor industry.”

For more information, please refer to the JCET Q1 2024 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.

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DUBAI, UAE, April 24, 2024 /PRNewswire/ — The Emirati developer Binghatti is launching a new mega development in Dubai. The landmark project Binghatti Hills is set to become the most expansive development within the community. The unveiling of this project will be held on the 29^th of April followed by a four-day sales event in Four Seasons Jumeirah, Dubai.

The exquisite project will comprise a total of 1,666 residential units and 21 retail spaces. Drawing inspiration from the natural contours of terrains, Binghatti Hills seeks to capture the serene ambiance of a rolling hillside and translate it into an architectural masterpiece that embodies the spirit of tranquillity amidst the bustle of city living.

Binghatti Hills will feature private pools and lush sky gardens interwoven into the fabric of the architectural structure, providing unmatched exclusivity to its residents. It will boast a wealth of bespoke experiences within its meticulously designed amenity deck. Residents and guests alike can indulge in exclusive retreats at the private beach and find serenity amidst tranquil zen gardens. It will also offer a wide selection of playing fields for sports enthusiasts in addition to the pavilion, wellness centre and kids play area for leisure seekers.

“We are thrilled to announce the unveiling of our very first project in this community. With our vision and unmatched offerings, we are confident that Binghatti Hills will not merely attract discerning investors seeking exclusive and lucrative opportunities, but ultimately redefine Dubai’s dynamic real estate landscape. We are very excited to reveal the details of this architectural masterpiece soon.” Muhammad BinGhatti, Binghatti CEO.

The project promises unparalleled ease of access, with a strategic location in close proximity to the entrance and exit points of the community. The development will stand opposite the prestigious Dubai Hills Mall and will be in close vicinity to lavish hotels adding to its allure and prominence with the city’s vibrant landscape. With its prime setting and unparalleled lifestyle offerings, the project is set to become one of the most prestigious developments in the community.

About Binghatti Developers:
Binghatti is an award-winning real estate developer based in Dubai headed by CEO & Head of Architecture Muhammad BinGhatti. The dynamic company offers a wide array of real estate developments distinguished by its groundbreaking architectural design. It currently operates across multiple prominent districts within the emirate including Downtown, Business Bay, Dubai Silicon Oasis, Al Jaddaf, Jumeirah Village Circle, Liwan, and Dubai Land Residence Complex. Binghatti is renowned for pioneering the development of branded real estate through its collaborations with global luxury brands from various fields including Bugatti, Mercedes Benz and Jacob&Co. The company posseses bold plans for expansion in the coming years with a particular focus on augmenting its real estate portfolio in Dubai. 

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Integration helps streamline and automate the school purchasing process for 5,254 IRIS Financial customers

LONDON, April 24, 2024 /PRNewswire/ — IRIS Software Group (IRIS) today announced the availability of Amazon Business e-Procurement for IRIS Financials. This integration will enable more than 5,000 UK schools to purchase supplies directly from Amazon Business through their IRIS Financials system, cutting out a number of time-consuming manual steps.

Schools regularly purchase bulk items from Amazon Business, such as textbooks, stationery, computers, whiteboards, safety equipment, sports, music, art and science equipment, furniture, cleaning and catering supplies and Special Educational Needs (SEN) resources.

Available now, this collaboration allows purchasing teams to launch Amazon Business’s digital catalogue within their IRIS Financials purchasing system. Offering full integration with an existing Amazon Business account, purchasing teams benefit from a familiar Amazon check-out process, prefilled purchase order lines, automatic generation of purchase orders and approvals, and purchase reconciliation.

“This is a fantastic collaboration, underlining IRIS Education’s commitment to the education sector, and showing how we continue to innovate to help schools and trusts,” said Simon Freeman, Managing Director for Education at IRIS. “Being able to handle Amazon e-procurement within IRIS Financials transforms the time intensive manual processes that are performed daily. It removes the need to re-key information from Amazon into a purchase order, alleviates the usual juggling between applications to copy over information from Amazon to a purchasing system and dramatically reduces the steps needed in gaining approval for purchases.”

“We’re thrilled to be collaborating with IRIS to bring streamlined procurement for thousands of schools around the UK,” said Fabricio Pedroza, Country Manager, UK&I at Amazon Business. “This collaboration means we’re able to offer UK schools and multi-academy trusts a wide range of products through their existing IRIS Financials purchasing systems, providing easy access to Amazon Business’s digital catalogue. Through automating admin tasks, and offering increased visibility and an easier and improved purchase reconciliation, this partnership will enable schools to focus on what’s important: the education and success of its students.”

IRIS is focused on developing software solutions that consolidate data across multiple systems, automate processes and alleviate the unnecessary time-drain educational staff currently face. With 30 years’ experience in education management solutions and a presence in 90 countries, IRIS has the broadest education software suite in the UK, with 75% of MATs and 12,000 UK schools and academies — including half of the schools in England — now using its solutions.

About IRIS Software Group 

IRIS Software Group is a global provider of mission critical software and one of the UK’s largest privately held software companies. IRIS provides software solutions and services for finance, HR and payroll teams, education organisations and accountancy firms that takes the pain out of processes and lets professionals focus on the work they value. Through simplifying, automating and providing insights on everyday mission critical tasks for organisations of all shapes and sizes, IRIS ensures customers can look forward with certainty and confidence. 

IRIS is the largest third-party online filer with the UK Government. Ninety-one of the top 100 UK accountancy firms use IRIS software. One in six of the UK’s workforce is paid by IRIS payroll offerings, and globally, six million employees receive their payslip via IRIS software every month. More than 850,000 UK employees are managed by IRIS HR solutions.

Over 12,000 UK schools and academies use IRIS, with four million parents and guardians using IRIS apps to connect with their children’s school; 300 million messages are delivered between schools and parents each year and over £15 million transactional payments are processed every month.

IRIS is certified as a Great Place to Work® and recognised as one of the Best Workplaces for Wellbeing, one of the Best Workplaces in Tech and one of the Best Workplaces for Women. 

Follow IRIS on Facebook, Twitter, Instagram and LinkedIn. More information on its award-winning software solutions can be found here. 

For press inquiries:

Tory Waldron
IRIS Software Group
[email protected]

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