JCET Revenues of Q3 2024 and Q3 YTD 2024 Hit New Record High, Q3 Net Profit after Deducting Non-Recurring Items Increased by 19.5% Year-on-Year | The Manila Times

Q3 2024 Financial Highlights：

Revenue was RMB 9.49 billion, an increase of 14.9% year-on-year and 9.8% quarter-on-quarter, a record quarter in the company's history.
Net profit attributable to owners of the parent was RMB 0.46 billion. Net profit attributable to owners of the parent after deducting non-recurring gains and losses was RMB 0.44 billion, an increase of 19.5% year-on-year.

Q3 YTD 2024 Financial Highlights：

Revenue was RMB 24.98 billion, an increase of 22.3% year-on-year, a record high in the company's history.
Net profit attributable to owners of the parent was RMB 1.08 billion, an increase of 10.6% year-on-year.
Earnings per share was RMB 0.60, as compared to RMB 0.54 in Q3 YTD 2023.

SHANGHAI, Oct. 25, 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 third quarter of 2024. The financial report shows that in the third quarter of 2024, JCET achieved revenue of RMB 9.49 billion, an increase of 14.9% year-on-year, a record quarter in the company's history, and net profit attributable to owners of the parent of RMB 0.46 billion. Net profit attributable to owners of the parent after deducting non-recurring gains and losses was RMB 0.44 billion in Q3 2024, an increase of 19.5% year-on-year. In Q3 YTD 2024, JCET achieved revenue of RMB 24.98 billion, an increase of 22.3% year-on-year, a record high in the company's history, and net profit attributable to owners of the parent of RMB 1.08 billion, an increase of 10.6% year-on-year.

The operations of JCET factories have rebounded since 2024, and the company's capacity utilization rate is continuously increasing. In the first three quarters of this year, all business sector recovery has stabilized, and the company's earlier strategic layout began to contribute incremental growth. In the first three quarters, the revenues of the four major applications, including communications, consumer, computing, and automotive electronics all achieved double-digit year-on-year growth, with communication electronics achieving a significant growth of nearly 40% year-on-year. The company strengthened inventory control and supply chain management to ensure efficient circulation of capital, generating RMB 3.93 billion cash from operations in Q3 YTD 2024, a year-on-year increase of 29.7%.

JCET's acquisition of 80% equity of SanDisk (Shanghai), a global leading factory for memory chip packaging, has completed. This will further enhance the company's intelligent manufacturing and expand its market share in the memory and computing electronics. JCET microelectronics microsystem integration high-end manufacturing base has been put into use, providing one-stop IC back-end manufacturing services and addressing global customers' demand for high-performance chips.

Mr. Li Zheng, CEO of JCET, said, "JCET has actively promoted innovation in advanced packaging technology and capacity layout in recent years. Since the beginning of this year, the company business has continued to rebound, and its revenue in the first three quarters hits a new high in the company's history. JCET will continue to focus on advanced technology and high value-added markets to support sustainable development."

For more information, please refer to the JCET Q3 2024 Report.

CONSOLIDATED BALANCE SHEET (Unaudited)

RMB in millions

Sep 30, 2024

Dec 31, 2023

ASSETS

Current assets

Currency funds

9,257

7,325

Trading financial assets

2,003

2,306

Derivative financial assets

Accounts receivable

5,916

4,185

Receivables financing

Prepayments

133

104

Other receivables

117

Inventories

4,740

3,195

Other current assets

514

375

Total current assets

22,718

17,619

Non-current assets

Long-term receivables

Long-term equity investments

826

695

Other equity investments

434

447

Investment properties

Fixed assets

21,431

18,744

Construction in progress

2,728

1,053

Right-of-use assets

515

563

Intangible assets

745

662

Goodwill

3,546

2,248

Long-term prepaid expenses

Deferred tax assets

493

364

Other non-current assets

Total non-current assets

30,901

24,960

Total assets

53,619

42,579

LIABILITIES AND EQUITY

Sep 30, 2024

Dec 31, 2023

Current liabilities

Short-term borrowings

1,187

1,696

Notes payable

338

223

Accounts payable

8,143

4,782

Contract liabilities

316

185

Employee benefits payable

751

781

Taxes and surcharges payable

275

167

Other payables

385

354

Current portion of long-term liabilities

4,215

1,491

Other current liabilities

Total current liabilities

15,611

9,682

Non-current liabilities

Long-term borrowings

7,331

5,777

Lease liabilities

504

530

Long-term payables

833

Long-term employee benefits payable

Deferred income

424

384

Deferred tax liabilities

393

Other non-current liabilities

Total non-current liabilities

9,528

6,746

Total liabilities

25,139

16,428

Equity

Paid-in capital

1,789

Capital reserves

15,230

15,237

Accumulated other comprehensive income

410

543

Specialized reserves

Surplus reserves

257

Unappropriated profit

9,137

8,239

Total equity attributable to owners of the parent

26,824

26,065

Minority shareholders

1,656

Total equity

28,480

26,151

Total liabilities and equity

53,619

42,579