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

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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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Precision Meets Power: Vantage Marks 15 Years with New Anniversary Video, “The Ultimate Trading Machine”

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PORT VILA, Vanuatu, Nov. 14, 2024 /CNW/ — Celebrating 15 years of excellence, leading multi-asset broker Vantage Markets (or “Vantage”) has launched a video titled “The Ultimate Trading Machine*”, a tribute to 15 years of innovation, precision, and the relentless pursuit of empowering traders globally. The video encapsulates Vantage’s journey and reflects the bold, ambitious spirit of the brand.

 

“In the pursuit of excellence, precision and speed are everything,” the video states. For 15 years, Vantage has been at the forefront of innovation, continuously evolving to meet the needs of traders. From launching tools like the proprietary mobile app and Copy Trading platform, to integration with TradingView. In a latest assessment done by Investing.com, Vantage emerged top across multiple key metrics, including leverage, spread value, spread stability, no-slippage rate, market depth, and swap competitiveness, conducted during one of the most volatile periods – the U.S. elections. Vantage has consistently set new standards, solidifying its position as a global leader in online trading.

Since its inception, the company has secured licences in the UK, Australia, South Africa, the Cayman Islands, and Vanuatu, establishing itself as a trusted and regulated broker. Through the years, Vantage has been committed to being a model brand for traders, forging partnerships with esteemed organisations such as NEOM McLaren Extreme E, UNESCO, and UNHCR, ensuring that it contributes positively to society as well.

“For 15 years, Vantage has fueled ambition with tools that empower traders to unlock their full trading potential,” said Marc Despallieres, Chief Strategy and Trading Officer. “The Ultimate Trading Machine’ isn’t just a tagline—it’s our dedication to precision and progress.”

Geraldine Goh, Chief Marketing Officer, added, “This video captures Vantage’s journey—15 years of innovation, ambition, and dedication to empowering traders. Our goal is to inspire traders to aim higher, knowing Vantage will always be there, pushing the limits alongside them.”

Vantage’s journey continues with a focus on setting new industry standards, delivering cutting-edge features, and empowering traders to succeed.

Experience Vantage’s 15-year journey and see “The Ultimate Trading Machine” in action here.

Learn more about Vantage’s 15 anniversary here.

About Vantage

Vantage Markets (or Vantage) is a multi-asset CFD broker offering clients access to a nimble and powerful service for trading Contracts for Difference (CFDs) products, including Forex, Commodities, Indices, Shares, ETFs, and Bonds.

With over 15 years of market experience, Vantage transcends the role of broker, providing a trusted trading ecosystem, an award-winning mobile trading app, and a user-friendly trading platform that empowers clients to seize trading opportunities. Download the Vantage App on App Store or Google Play.

trade smarter @vantage

RISK WARNING: CFD trading carries significant risks. You could lose more than your initial investment.

*’The Ultimate Trading Machine’ is a marketing term and does not imply guaranteed performance.

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SOURCE Vantage

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J&T Express Exceeds 100 Million Global Parcels Handled in a Single Day During Double 11, Driven by Strong Growth Across Multiple Regions

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HONG KONG, Nov. 14, 2024 /PRNewswire/ — J&T Global Express Limited (“J&T Express” or “J&T” or “the Company”, stock code: 01519), a global logistics service provider, announced a new milestone in its growth trajectory, surpassing 100 million parcels handled worldwide in a single day during this year’s Double 11 shopping festival on November 12th.

Double 11 is a traditional peak season for China and Southeast Asia. From October 20 to November 12, J&T Express saw significant growth in parcel volume in both markets. In China, the daily average parcel volume during this period reached nearly 66 million, a 25% year-over-year (“YoY”) increase, setting a new record. In Southeast Asia, the daily average parcel volume from November 1 to 11 exceeded 15 million, marking an impressive 73% YoY growth.

In anticipation of the expected surge in parcel volumes during the multiple year-end shopping festivals, J&T Express implemented early preparations across various markets, increasing investment in infrastructure and human resources to ensure operational efficiency and service quality. In China, based on business forecasts and actual production needs, J&T upgraded and renovated 32 sorting centers nationwide, expanding operating areas and improving timeliness. Over 600 distribution hubs and outlets were also upgraded across the country, with over 400 sets of automated equipment deployed to enhance operational capacity and effectively manage the peak parcel volume.

Benefiting from the vast growth potential of Southeast Asian markets and close collaboration with e-commerce clients, J&T Express anticipated the increase in e-commerce parcel volume during Double 11 and made proactive preparations. In September and October, J&T Express Vietnam deployed over 300 trucks, and the company constructed its largest sorting center in North Vietnam, equipped with advanced operating technology and equipment, which officially commenced its operations. This center boasts a parcel handling accuracy rate of 99.99%, significantly enhancing operational efficiency.

In Thailand, J&T Express upgraded four sorting centers and five distribution hubs, adding over 13 sets of automated equipment to boost operational capacity. As a result, the peak processing capacity of sorting centers increased by approximately 25%, and the distribution hubs saw a 20% improvement. Furthermore, J&T Express Thailand expanded its sorting area by approximately 19,000 square meters, added over 900 transport vehicles, and recruited over 3,800 personnel to meet the growing demand of sorting, delivery, and customer service sectors.

In other new markets, Black Friday (November 29th) marks the largest logistics peak season in Latin America. J&T Express has observed a significant upward trend in parcel volumes in Brazil and Mexico. To address the upcoming peak, J&T Express in both countries has proactively invested in infrastructure and human resources, upgrading automated equipment to meet the high-quality express service demands of both clients and consumers.

“J&T Express exceeding 100 million global parcels handled in a single day during Double 11, setting a historic record, demonstrates our robust operational capabilities and unwavering commitment to serving our global customers,” said Charles Hou, Vice President of J&T Express. “We will continue to invest in infrastructure and resource allocation across various markets, focusing on network optimization and service enhancement to ensure efficient and reliable logistics services for global users during peak seasons, meeting the ever-growing global market demands.”

About J&T Express

J&T Express is a global logistics service provider with leading express delivery businesses in Southeast Asia and China, the largest and fastest-growing market in the world. Founded in 2015, J&T Express’ network spans thirteen countries, including Indonesia, Vietnam, Malaysia, the Philippines, Thailand, Cambodia, Singapore, China, Saudi Arabia, the UAE, Mexico, Brazil and Egypt. Adhering to its “customer-oriented and efficiency-based” mission, J&T Express is committed to providing customers with integrated logistics solutions through intelligent infrastructure and digital logistics network, as part of its global strategy to connect the world with greater efficiency and bring logistical benefits to all.

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SOURCE J&T EXPRESS

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CHINT’s CHX120 Integrated DC Meters Offer a Reliable and Precise Solution

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SHANGHAI, Nov. 14, 2024 /PRNewswire/ — (CHINT )The global shift towards electric vehicles (EVs) and renewable energy solutions has increased the demand for accurate and reliable DC metering technologies. DC meters play a crucial role in charging systems, where precise energy measurement is vital to ensure transparency, efficiency, and fairness for both operators and consumers.

DC meters are primarily designed for electric vehicle charging stations, where high precision and reliability are essential. The CHINT CHX120 is an innovative DC meter designed specifically for EV charging stations and other high-demand DC metering environments. Key features include:

Integrated Design: Shunt and meter combined in a single unit, reducing space and simplifying installation.High-Precision Measurement: Accurate readings for both forward and reverse energy flows, ensuring reliable billing.Multi-Tariff and Time Period Support: Supports up to 12 tariffs and 24 time periods for flexible energy pricing.Intelligent Temperature Monitoring: Monitors temperature to ensure safe operation and extend equipment lifespan.Strong Communication Compatibility: Compatible with RS-485, Modbus, and other protocols for seamless system integration.Diverse Shunt Specifications: Offers various shunt sizes, supporting currents up to 650A for high-power applications.Dual Sealing: Features physical and electronic seals for enhanced security and tamper resistance.Strong Data Storage Functionality: Stores up to 100 charging cycles and preserves data for 10 years during power outages.

The CHX120 is perfect for electric vehicle charging stations and other DC metering scenarios where high precision, safety, and reliability are crucial. It is particularly suited for high-power charging applications and systems requiring robust performance and long-term data storage.

In summary, DC meters are essential components in modern energy systems, particularly in electric vehicle charging infrastructure. Their ability to accurately measure energy consumption, communicate data remotely, and integrate seamlessly into complex systems makes them invaluable for both operators and consumers. The CHINT CHX120 is a standout DC energy meter that combines cutting-edge technology with practical design, offering a reliable and precise solution for today’s DC metering needs.

By understanding the principles, technology, and application of DC meters, businesses and consumers can make informed decisions to optimize energy usage and improve operational efficiency.

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