JCET 1H 2021 Net Profit Jumps 261%, Earnings Surpass FY 2020 Mark

Q2 2021 Financial Highlights:

• Revenue was RMB 7.11 billion, an increase of 13.4% year on year. A record high second quarter in the company's history.
• Generated RMB 1.68 billion cash from operations, an increase of 67.1% year on year. With net capex investments of RMB 0.92 billion, free cash flow for the quarter was RMB 0.76 billion.
• Net profit was RMB 0.94 billion, a record high second quarter in the company's history.
• Earnings per share was RMB 0.54, as compared to RMB 0.15 in Q2 2020.

1H 2021 Financial Highlights:

• Revenue was RMB 13.82 billion, an increase of 15.4% year on year.
• Generated RMB 2.88 billion cash from operations, an increase of 33.9% year on year. With net capex investments of RMB 1.48 billion, free cash flow for the first half of 2021 was RMB 1.40 billion.
• Net profit was RMB 1.32 billion, an increase of 261.0% year on year，a record high in the company's history.
• Earnings per share was RMB 0.78, as compared to RMB 0.23 in 1H 2020.
• Successfully completed private placement of RMB 5 billion in April 2021.

SHANGHAI, Aug. 21, 2021 /PRNewswire/ -- JCET (SSE: 600584), a leading global provider of integrated circuit (IC) manufacturing and technology services, today announced its financial results for the first half year of 2021. According to the financial report, in 1H 2021, JCET maintained its momentum of growth and strong profitability, with revenue of RMB 13.82 billion and net profit of RMB 1.32 billion, which achieved 15.4% and 261.0% year on year growth respectively.

Ms. Janet Chou, CFO of JCET said, "Thanks to the solid execution of our team and strong customer demand, JCET delivered another record setting quarter in 2021 with gross margin expanding 260 basis points year on year in Q2. With strong operating cash generation and robust free cash flow, we further strengthened our balance sheet."

Along with a strong financial performance, JCET had many additional key accomplishments in Q2 2021. In April, JCET established the "Design Service Business Center" and "Automotive Electronics Business Center" to strengthen efficient interaction and synergistic development with the industry ecosystem and provide seamless and efficient full lifecycle technical service support to customers. JCET completed a private placement raising approximately RMB 5 billion to enhance capabilities in SiP, QFN, BGA and other finished chip manufacturing solutions to better meet the needs of 5G communication devices, big data, automotive electronics and other market applications. And in June, JCET completed the acquisition of Analog Devices Inc.'s Singapore test facility that enabled the continued expansion of JCET test business in Singapore and the rapid and steady advancement of its global business strategies.

Mr. Li Zheng, CEO of JCET said, "The dynamic and innovative applications in the post-Moore era have driven the rapid upgrade of advanced packaging and backend chipset manufacturing solutions, and this gives JCET great opportunities for growth. In recent years, JCET has been partnering with our global customers, continuously increasing investment in advanced technologies, and strengthening our professional and international management and production operation systems, resulting in record revenue and net profit in the first half of 2021. In the future, we will continue to invest in R&D of advanced technology solutions, optimize operational capabilities, strengthen our professional team, and implement a talent incentive mechanism under the guidance and support of the Board of Directors, to lay a solid foundation for the sustainable development of JCET."

About JCET:

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.