Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Latest News

Steady Development Driven by Innovation, JCET Revenue of Q4 2023 Hits a Record High

Published

on

Q4 2023 Financial Highlights:

  • Revenue was RMB 9.23 billion, an increase of 11.8% quarter-on-quarter, and an increase of about 3% year-on-year, a record high single quarter in the company’s history.
  • Net profit was RMB 0.5 billion, an increase of 3.9% quarter-on-quarter.
  • Generated RMB 1.4 billion cash from operations. With net capex investments of RMB 0.76 billion, free cash flow for the quarter was RMB 0.64 billion.
  • Earnings per share was RMB 0.28.

Full Year 2023 Financial Highlights:

  • Revenue was RMB 29.66 billion.
  • Net profit was RMB 1.47 billion.
  • Generated RMB 4.44 billion cash from operations. With net capex investments of RMB 3.07 billion, free cash flow was RMB 1.37 billion.
  • Earnings per share was RMB 0.82.

SHANGHAI, April 18, 2024 /PRNewswire/ — JCET Group (SSE: 600584), a leading global provider of integrated circuit (IC) back-end manufacturing and technology services, today announced its full year financial results for the year ended December 31, 2023. According to the financial report, in 2023 JCET achieved revenue of RMB 29.66 billion, and net profit of RMB 1.47 billion. In Q4 2023 JCET achieved revenue of RMB 9.23 billion, an increase of 11.8% quarter-on-quarter and an increase of about 3% year-on-year, a record high single quarter in the company’s history; and net profit of RMB 0.5 billion, an increase of 3.9% quarter-on-quarter.

In 2023, JCET effectively responded to market changes, focusing on high-performance advanced packaging, strengthening innovation and upgrading to achieve stable business development, the company’s operations have continued to improve since Q2 2023, and performance rebounded quarter by quarter. JCET has continuously optimized asset structures, improved cash flow capability, and achieved positive free cash flow for 5 consecutive years from 2019 to 2023.

JCET has achieved continuous breakthroughs in the field of advanced packaging technologies such as high-density system level packaging, large size flip chip packaging and wafer level packaging, and the proportion of advanced packaging revenue exceeded two-thirds of company’s revenue. JCET continues to enhance its technological innovation, with R&D investment of RMB 1.44 billion in 2023, a year-on-year increase of 9.7%.

The company has enhanced its overall solution and production capabilities towards application scenarios. In the fields of high-end communications, industrial electronics and wide bandgap semiconductors, JCET with its global customers have developed diversified innovative applications, with continuous increase of mass production introduction. JCET’s automotive electronics business has maintained continuous expansion in technological achievements and number of customers in 2023, with revenue in this segment increasing by 68% year-on-year. At the same time, JCET accelerates the construction of its first automotive chip advanced packaging flagship factory in Shanghai.

Mr. Li Zheng, CEO of JCET, said, “JCET continues to develop its core competitiveness, characterized by global customer diversification, professional management, and innovative internationalized operations. Strategic initiatives executed in 2023 have laid a solid foundation for steady growth in 2024 and the near future.”

For more information, please refer to the JCET 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 (Audited)                                                                

RMB in millions

Dec 31, 2023

Dec 31, 2022

ASSETS

Current assets

  Currency funds

7,325

2,459

  Trading financial assets

2,306

4,316

  Derivative financial assets

4

18

  Accounts receivable

4,185

3,689

  Receivables financing

38

59

  Prepayments

104

110

  Other receivables

87

61

  Inventories

3,195

3,152

  Other current assets

375

279

Total current assets

17,619

14,143

Non-current assets

  Long-term receivables

33

40

  Long-term equity investments

695

765

  Other equity investments

447

440

  Investment properties

86

89

  Fixed assets

18,744

19,517

  Construction in progress

1,053

807

  Right-of-use assets

563

578

  Intangible assets

662

483

  Goodwill

2,248

2,210

  Long-term prepaid expenses

17

28

  Deferred tax assets

364

247

  Other non-current assets

48

61

Total non-current assets

24,960

25,265

Total assets

42,579

39,408

LIABILITIES AND EQUITY  

Dec 31, 2023

Dec 31, 2022

Current liabilities

  Short-term borrowings

1,696

1,174

  Notes payable

223

339

  Accounts payable

4,782

4,634

  Contract liabilities

185

214

  Employee benefits payable

781

984

  Taxes and surcharges payable

167

210

  Other payables

354

378

  Current portion of long-term liabilities

1,491

3,096

  Other current liabilities

3

4

Total current liabilities

9,682

11,033

Non-current liabilities

  Long-term borrowings

5,777

2,721

  Lease liabilities

530

562

  Long-term employee benefits payable

14

14

  Deferred income

384

340

  Deferred tax liabilities

0

40

  Other non-current liabilities

41

55

Total non-current liabilities

6,746

3,732

Total liabilities

16,428

14,765

Equity

  Paid-in capital

1,789

1,780

  Capital reserves

15,237

15,080

  Accumulated other comprehensive income

543

400

  Surplus reserves

257

229

  Unappropriated profit

8,239

7,154

Total equity attributable to owners of the parent

26,065

24,643

Minority shareholders

86

0

Total equity

26,151

24,643

Total liabilities and equity

42,579

39,408

 

 

CONSOLIDATED INCOME STATEMENT (Audited)                                                                                                     

RMB in millions, except share data

Three months ended

 Year ended

Dec 31, 2023

Dec 31, 2022

Dec 31, 2023

Dec 31, 2022

Revenue

9,231

8,984

29,661

33,762

Less: Cost of sales

8,016

7,688

25,612

28,010

          Taxes and surcharges

24

20

106

90

          Selling expenses

51

42

206

184

          Administrative expenses

215

95

751

900

          Research and development expenses

358

333

1,440

1,313

          Finance expenses

114

137

191

126

            Including: Interest expenses

99

64

314

207

                     Interest income

42

10

112

31

Add: Other income

38

53

214

191

         Investment income / (loss)

36

63

2

128

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

(36)

1

(70)

(5)

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

(44)

3

18

(37)

         Credit impairment (loss is expressed by “-“)

(2)

17

(5)

34

         Asset impairment (loss is expressed by “-“)

(47)

(131)

(73)

(257)

         Gain / (loss) on disposal of assets 

(12)

6

9

48

Operating profit / (loss)

422

680

1,520

3,246

Add: Non-operating income

6

2

9

47

Less: Non-operating expenses

2

1

7

2

Profit / (loss) before income taxes

426

681

1,522

3,291

Less: Income tax expenses

(70)

(98)

52

60

Net profit / (loss) 

496

779

1,470

3,231

Classified by continuity of operations

  Profit / (loss) from continuing operations

496

779

1,470

3,231

Classified by ownership

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

497

779

1,471

3,231

  Net profit / (loss) attributable to minority shareholders

(1)

0

(1)

0

Add: Unappropriated profit at beginning of period

7,771

6,430

7,154

4,334

Less: Extract statutory surplus accumulation

29

55

29

55

        Cash dividends payable

0

0

357

356

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

8,239

7,154

8,239

7,154

Other comprehensive income, net of tax

(137)

(151)

143

680

Comprehensive income attributable to owners of the parent

(137)

(151)

143

680

Comprehensive income not be reclassified to profit or loss

(3)

7

7

(7)

  Remeasurement gains or losses of a defined benefit plan

(1)

1

0

1

  Change in the fair value of other equity investments

(2)

6

7

(8)

Comprehensive income to be reclassified to profit or loss

(134)

(158)

136

687

  Cash flow hedge reserve

0

23

0

(4)

  Exchange differences of foreign currency financial statements

(134)

(181)

136

691

Total comprehensive income

359

628

1,613

3,911

  Including:

     Total comprehensive income attributable to owners of the parent

360

628

1,614

3,911

     Total comprehensive income attributable to minority shareholders

(1)

0

(1)

0

Earnings per share

  Basic earnings per share

0.28

0.44

0.82

1.82

  Diluted earnings per share

0.28

0.43

0.82

1.81

 

 

CONSOLIDATED CASH FLOW STATEMENT (Audited)                                                                                                                                                          

RMB in millions

Three months ended

 Year ended

Dec 31, 2023

Dec 31, 2022

Dec 31, 2023

Dec 31, 2022

CASH FLOWS FROM OPERATING ACTIVITIES

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

9,696

11,033

30,433

36,233

  Receipts of taxes and surcharges refunds

(99)

34

168

307

  Other cash receipts relating to operating activities

98

103

387

321

Total cash inflows from operating activities

9,695

11,170

30,988

36,861

  Cash payments for goods and services

7,405

8,458

21,698

25,604

  Cash payments to and on behalf of employees

1,013

1,019

3,985

4,275

  Payments of all types of taxes and surcharges

(181)

(152)

465

543

  Other cash payments relating to operating activities

54

213

403

427

Total cash outflows from operating activities

8,291

9,538

26,551

30,849

Net cash flows from operating activities

1,404

1,632

4,437

6,012

CASH FLOWS FROM INVESTING ACTIVITIES

  Cash receipts from returns of investments

6,200

4,151

18,081

12,701

  Cash receipts from investment income

32

33

100

89

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

(68)

(3)

63

107

  Net cash receipts from disposal of subsidiaries and other business units

0

0

0

30

Total cash inflows from investing activities

6,164

4,181

18,244

12,927

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

695

1,236

3,129

3,924

  Cash payments for investments

4,920

4,300

16,081

14,361

  Other cash payments relating to investing activities

32

0

32

0

Total cash outflows from investing activities

5,647

5,536

19,242

18,285

Net cash flows from investing activities

517

(1,355)

(998)

(5,358)

CASH FLOWS FROM FINANCING ACTIVITIES

  Cash proceeds from investments by others

4

0

266

0

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

0

0

86

0

  Cash receipts from borrowings

2,433

2,255

8,920

5,216

Total cash inflows from financing activities

2,437

2,255

9,186

5,216

  Cash repayments for debts

1,592

2,523

7,056

5,053

  Cash payments for distribution of dividends or profit and interest expenses

82

29

627

524

  Other cash payments relating to financing activities

23

(71)

92

687

Total cash outflows from financing activities

1,697

2,481

7,775

6,264

Net cash flows from financing activities

740

(226)

1,411

(1,048)

EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS

(8)

(10)

22

84

NET INCREASE IN CASH AND CASH EQUIVALENTS

2,653

41

4,872

(310)

Add: Cash and cash equivalents at beginning of period

4,672

2,412

2,453

2,763

CASH AND CASH EQUIVALENTS AT END OF PERIOD

7,325

2,453

7,325

2,453

 

Logo – https://mma.prnewswire.com/media/1711480/JCET_Logo_Logo.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/steady-development-driven-by-innovation-jcet-revenue-of-q4-2023-hits-a-record-high-302120972.html

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

AXA named as an Official Partner of UEFA Women’s EURO 2025

Published

on

 

AXA has proudly announced its support for the UEFA Women’s EURO 2025 as an Official Partner, furthering its sponsorship programme initiated in 2020. The prestigious event will take place in Switzerland from July 2 to 27, 2025.

Commitment to Women’s Football

This partnership underscores AXA’s dedication to promoting women’s football, building on its long-term support for the sport. Since 2020, AXA has been the main sponsor of the AXA Women’s Super League and the AXA Women’s Cup in Switzerland. By investing in women’s football, AXA aims to bolster women’s sports and promote its brand ethos, “Know You Can,” encouraging self-belief among its customers.

Statements from AXA Leaders

Fabrizio Petrillo, CEO of AXA Switzerland, expressed his enthusiasm, saying, “I’m so excited to support UEFA Women’s EURO 2025 together with other European AXA companies as a main sponsor. We are sending a strong signal and making a contribution to ensure that the players and fans can experience a great event and further strengthen women’s football. I’m looking forward to a fantastic summer of football in 2025!”

Volunteering Opportunities

The partnership includes more than just financial support. AXA employees will have the opportunity to volunteer during the tournament as part of the UEFA Women’s EURO 2025 Volunteer Programme, playing a crucial role in the event’s success.

Guy-Laurent Epstein, UEFA Marketing Director, commented, “AXA is a dedicated supporter of women’s football in Switzerland, so we are thrilled to partner with them for what will be an unforgettable UEFA Women’s EURO 2025. We look forward to working together to make this the can’t-miss event of next summer while also strengthening women’s football in the host country and throughout Europe.”

Enhancing Visibility for Female Players

Andreea Prange, Head of Customer Experience & Strategy at AXA Switzerland, added, “Promoting women’s football is a topic I hold dear to my heart. That’s why I’m delighted that AXA, as a partner of the UEFA Women’s EURO 2025, is also committed to increasing the visibility of female players at the international level.”

Tournament Details

Doris Keller, Tournament Director of UEFA Women’s EURO 2025, stated, “AXA, a long-time supporter and partner of women’s football in Switzerland and globally, is a perfect fit to become a global partner of UEFA Women’s EURO 2025. We look forward to collaborating with AXA on the UEFA Women’s EURO 2025 Volunteer Programme, as the 2,500 volunteers will play a highly essential and valuable role throughout the tournament welcoming everyone to the host country.”

The UEFA Women’s EURO 2025 will feature 16 teams competing in eight Swiss cities, attracting an estimated 500 million viewers worldwide and offering over 700,000 tickets for fans to attend the matches live.

Partnership Duration

The partnership between AXA and UEFA will continue until the end of August 2025. The financial terms of the sponsorship remain confidential.

Source: fintech.global

The post AXA named as an Official Partner of UEFA Women’s EURO 2025 appeared first on HIPTHER Alerts.

Continue Reading

Latest News

Lucinity Wins the Microsoft Partner Awards for 2024 for Partner of the Year – Iceland and Sustainability and Social Impact

Published

on

REYKJAVÍK, Iceland, May 28, 2024 /PRNewswire/ — Lucinity, a leading AI company for financial crime prevention, won two awards at the Microsoft Partner Awards for 2024, including Partner of the Year – Iceland and Sustainability and Social Impact, highlighting Lucinity’s innovations and contribution to positive societal change. 

“Congratulations to Lucinity for being recognized as the Partner of the Year – Iceland 2024! Lucinity is leading digital transformation and delivering innovative products in their domain,” says Microsoft’s leadership.

For the past year, they have played a key role with their offerings, skilled resources, and their ability to drive change and innovative solutions both locally in Iceland and across the globe. Lucinity has had significant social impact and growth while supporting our joint customers in their AI-transformation journeys.”

In June 2023, Lucinity launched the world’s first copilot for FinCrime prevention powered by Microsoft Azure OpenAI called Luci. Luci stands out in the financial services industry with specialized skills for FinCrime prevention such as adverse media checks, case analysis, and SAR writing. 

Built on the robust and scalable Microsoft Azure platform, Lucinity offers customers a trusted SaaS product. Additionally, Lucinity’s presence on the Microsoft Azure Marketplace allows companies to leverage their Microsoft Azure credits to access the platform. 

The seamless integration with Microsoft’s Azure stack has enabled Lucinity to implement advanced AI capabilities, fostering rapid innovation and enabling banks and fintech companies to utilize AI securely and audibly. Furthermore, Luci significantly reduces investigation times from 2.5 hours to just 25 minutes, saving Tier 1 banks an estimated $25 million annually.

Guðmundur Kristjánsson (GK)Lucinity’s Founder and CEO comments, “These awards are a testament to the strength and reliability of our solutions, made possible by our strategic partnership with Microsoft. Utilizing Microsoft Azure, we have been able to drive rapid innovation and create a robust, scalable platform that meets the rigorous requirements of compliance teams.” 

On the Sustainability and Social Impact Partner Award, Microsoft says, “Lucinity, with their innovative AI solutions, has really tried to combat this huge global challenge. They use ‘Human AI’ to enhance financial crime prevention, combining AI with human expertise for efficient, user-friendly solutions. Additionally, Lucinity has developed a tool called Luci, an AI-powered copilot that helps transform financial crime prevention from a process that took hours to one that takes minutes.”

Logo: https://mma.prnewswire.com/media/2208676/4669079/Lucinity_Logo.jpg

 

Cision View original content:https://www.prnewswire.co.uk/news-releases/lucinity-wins-the-microsoft-partner-awards-for-2024-for-partner-of-the-year—iceland-and-sustainability-and-social-impact-302156888.html

Continue Reading

Latest News

2024 Hengqin Global Investment Promotion Conference Kicks Off

Published

on

HENGQIN, China, May 28, 2024 /PRNewswire/ — The Hengqin 2024 Global Investment Promotion Conference and sharing sessions opened on 26 May. Liu Xianfa, Commissioner of China’s Foreign Ministry in the Macao SAR; Lei Wai Nong, Director of the Executive Committee of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin (hereinafter referred to as the “Cooperation Zone”); Huang Zhihao, Deputy Secretary of the CPC Zhuhai Municipal Committee and Mayor of Zhuhai; Nie Xinping, Fu Yongge, Su Kun, Deputy Directors of the Executive Committee of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin attended the event. It also attracted more than 1,000 investors from Macao’s business associations and renowned enterprises at home and abroad. Guests attending the event came from 42 countries and regions, including Portugal, Brazil, Singapore and Malaysia, and the scale of participation was greatly enlarged compared with that of last year.

Lei Wai Nong said in his speech that Hengqin is currently entering into its “prime time” of trade and investment opportunities. He invited all entrepreneurs from home and abroad to invest in Hengqin and embrace the new development opportunities together.

Su Kun introduced the open investment environment of the Cooperation Zone and highlighted that the four new industries have seen significant progress and new development opportunities since the implementation of tier-specific management.

The event featured presentations on investment and development in Hengqin by representatives of Wisewave (Zhuhai) Technology Co., Ltd. and Airbus Helicopters China.

Nine research experts, scholars, and entrepreneurs from Macao and Hengqin have been invited to serve as “Ambassadors for Hengqin”. Together with six “Advocates for Hengqin” they are expected to promote Hengqin to the world. The video series “Ambassadors for Hengqin” will be rolled out in June.

Highlights of this year’s conference included an exhibition on the four new industries in the Cooperation Zone, showcasing the fruits of development in recent years. As of the end of the event on 26 May, more than 69,000 audience watched the online broadcasts.

On 27 May, a series of sharing sessions were held for in-depth discussions on integrated circuits, traditional Chinese medicine, branded industries, modern finance, cultural tourism, conventions and exhibitions, trade, and cross-border e-commerce, with the aim of building a bridge for dialogue and cooperation in these industries. 

Photo – https://mma.prnewswire.com/media/2423506/2024_Hengqin_Global_Investment_Promotion_Conference_Kicks_Off.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/2024-hengqin-global-investment-promotion-conference-kicks-off-302156904.html

Continue Reading

Trending