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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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Capital Advantage, Inc. Offers Tailored Financial Services for Kaiser Permanente® and TPMG Employees

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WALNUT CREEK, Calif., Jan. 10, 2025 /PRNewswire/ — Capital Advantage, Inc., a trusted name in wealth management, is proud to highlight its specialized services designed to meet the unique financial needs of Kaiser Permanente® and The Permanente Medical Group (TPMG) employees.

At Capital Advantage, we understand the complexities of Kaiser Permanente® and TPMG benefit plans. Our team is dedicated to helping healthcare professionals navigate their robust and often intricate benefit options. With over 30 years of expertise and a deep understanding of Kaiser’s offerings, we craft personalized financial plans to help maximize the value of our clients’ benefits.

“We recognize the unique challenges and opportunities that healthcare professionals face in managing their financial lives,” says Ian Castille, CFP®, Principal and Senior Financial Advisor at Capital Advantage, Inc.

Donna Zinman, CRPC®, Principal and Senior Advisor, adds, “Our goal is to educate our clients about their attractive benefit options and help them make the most of these opportunities.”

Key services for Kaiser Permanente® and TPMG employees include customized portfolio strategies and personalized guidance on retirement savings plans, identification of ideal pension options and annual open-enrollment benefit selections, advice on traditional vs. Roth 401(k) options, advanced tax-saving strategies (such as mega-backdoor Roth contributions), and simplification of retirement planning by working directly with Kaiser/TPMG’s benefits department. These services are designed to provide Kaiser/TPMG employees with peace of mind, confidence, and financial empowerment as they navigate their retirement and benefits planning.

About Capital Advantage, Inc.

Capital Advantage is a trusted, independently owned wealth management firm with over 40 years of experience helping individuals and families to achieve their financial goals. As a 100% fee-only fiduciary, Capital Advantage strives to provide financial peace of mind to each and every client, delivering large institution expertise with the personalized care and attention of a boutique firm. Our experienced advisors work closely with pre-retirees and retirees, women navigating unique financial journeys, and Kaiser Permanente® and The Permanente Medical Group (TPMG) employees to create strategies that provide clarity, confidence, and long-term success.

For more information on Capital Advantage’s services visit: Kaiser/TPMG Employees – Capital Advantage, Inc. or call (925) 299-1500 to contact one of our advisors for a no-cost initial consultation.

Disclaimer: Capital Advantage, Inc. is not affiliated, associated, authorized, endorsed by, or in any way officially connected with Kaiser Permanente® or TPMG (The Permanente Medical Group)

Limitations: No amount of experience, recognition, or past success, nor the achievement of any professional designation, certification, degree, or license should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if Capital Advantage is engaged, or continues to be engaged, to provide investment advisory services. Please see Important Disclosure.

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NASA Sets Coverage for Firefly First Commercial Robotic Moon Launch

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WASHINGTON, Jan. 10, 2025 /PRNewswire/ — Carrying NASA science and technology to the Moon as part of the agency’s CLPS (Commercial Lunar Payload Services) initiative and Artemis campaign, Firefly Aerospace’s Blue Ghost Mission 1 is targeting launch Wednesday, Jan. 15. The mission will lift off on a SpaceX’s Falcon 9 rocket from Launch Complex 39A at the agency’s Kennedy Space Center in Florida.

Live launch coverage will air on NASA+ with prelaunch events starting Monday, Jan. 13. Learn how to watch NASA content through a variety of platforms, including social media. Follow all events at:

https://www.nasa.gov/live/

After the launch, Firefly’s Blue Ghost lander will spend approximately 45 days in transit to the Moon before landing on the lunar surface in early March. The lander will carry 10 NASA science investigations to further our understanding of the Moon’s environment and help prepare for future human missions to the lunar surface, as part of the agency’s Moon to Mars exploration approach. 

Science investigations on this flight aim to test and demonstrate lunar subsurface drilling technology, regolith sample collection capabilities, global navigation satellite system abilities, radiation tolerant computing, and lunar dust mitigation methods. The data captured could benefit humans on Earth by providing insights into how space weather and other cosmic forces impact Earth. 

The deadline has passed for media accreditation for in-person coverage of this launch. The agency’s media accreditation policy is available online. More information about media accreditation is available by emailing: ksc-media-accreditat@mail.nasa.gov.

Full coverage of this mission is as follows (all times Eastern):

Monday, Jan. 13
2:30 p.m. – Lunar science media teleconference with the following participants:

Chris Culbert, CLPS program manager, NASA’s Johnson Space CenterMaria Banks, CLPS project scientist, NASA Johnson

Audio of the teleconference will stream live on the agency’s website:

https://www.nasa.gov/live/

Media may ask questions via phone only. For the dial-in number and passcode, please contact the Kennedy newsroom no later than 1:30 p.m. EST Jan. 13, at: ksc-newsroom@mail.nasa.gov.

Tuesday, Jan. 14
1 p.m. – Lunar delivery readiness media teleconference with the following participants:

Nicola Fox, associate administrator, Science Mission Directorate at NASA HeadquartersJason Kim, CEO, Firefly AerospaceJulianna Scheiman, director, NASA science missions, SpaceXMark Burger, launch weather officer, Cape Canaveral Space Force Station’s 45th Weather Squadron

Audio of the teleconference will stream live on the agency’s website:

https://www.nasa.gov/live/

Media may ask questions via phone only. For the dial-in number and passcode, please contact the Kennedy newsroom no later than 12 p.m. EST on Tuesday, Jan. 14, at: ksc-newsroom@mail.nasa.gov.

Wednesday, Jan. 15
12:30 a.m. – Launch coverage begins on NASA+ and the agency’s website.

1:11 a.m. – Launch

NASA Launch Coverage
Audio only of the media teleconferences and launch coverage will be carried on the NASA “V” circuits, which may be accessed by dialing 321-867-1220, -1240, or -7135. On launch day, the full mission broadcast can be heard on -1220 and -1240, while the countdown net only can be heard on -7135 beginning approximately one hour before the mission broadcast begins.

On launch day, a “tech feed” of the launch without NASA TV commentary will be carried on the NASA TV media channel.

NASA Website Launch Coverage
Launch day coverage of the mission will be available on the NASA website. Coverage will include live streaming and blog updates beginning no earlier than 12:30 a.m. EST Jan. 15, as the countdown milestones occur. On-demand streaming video and photos of the launch will be available shortly after liftoff. For questions about countdown coverage, contact the Kennedy newsroom at 321-867-2468. Follow countdown coverage on our launch blog for updates.

NASA Virtual Guests for Launch
Members of the public can register to attend this launch virtually. Registrants will receive mission updates and activities by email, including curated mission resources, schedule updates, and a virtual guest passport stamp following a successful launch. Print your passport and get ready to add your stamp!

Watch, Engage on Social Media
Let people know you’re following the mission on X, Facebook, and Instagram by using the hashtag #Artemis. You can also stay connected by following and tagging these accounts:

X: @NASA, @NASAKennedy, @NASAArtemis, @NASAMoon

Facebook: NASA, NASAKennedy, NASAArtemis

Instagram: @NASA, @NASAKennedy, @NASAArtemis

Coverage en Español
Did you know NASA has a Spanish section called NASA en español? Check out NASA en español on X, Instagram, Facebook, and YouTube for additional mission coverage.

Para obtener información sobre cobertura en español en el Centro Espacial Kennedy o si desea solicitar entrevistas en español, comuníquese con Antonia Jaramillo o Messod Bendayan a: antonia.jaramillobotero@nasa.gov o messod.c.bendayan@nasa.gov.

For media inquiries relating to the launch provider, please contact SpaceX’s communications department by emailing: media@spacex.com. For media inquiries relating to the CLPS provider, Firefly Aerospace, please contact Firefly’s communication department by emailing: press@fireflyspace.com.
For more information about the agency’s CLPS initiative, see:

https://www.nasa.gov/clps

 

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SOURCE NASA

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Universal Brain Announces Publication of Groundbreaking Depression Research Using Multiple Event-Related Potentials

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New findings support the company’s neuroscience-driven approach to precision psychiatry, offering actionable insights for personalized depression treatment

PALO ALTO, Calif., Jan. 10, 2025 /PRNewswire/ — Universal Brain, a pioneering technology company focused on transforming mental healthcare through neuroscience, today announced the publication of its latest peer-reviewed study, “Neurotyping depression using multiple event-related potentials (ERPs): Leveraging task-based variation to predict remission in depression,” the paper introduces a novel framework for detecting unique neurophysiological patterns that can help predict which depressed patients are most likely to achieve remission from depression.

“By combining several EEG paradigms with novel statistical analyses, we’re moving closer to a future where depression therapies can be precisely tailored to each individual,” said Kazu Okuda, Chief Executive Officer of Universal Brain. “In particular, we are poised to leverage a battery of EEG paradigms to better subtype depression – which will pave the way for more precision in treatment development and selection.  These functional measures of brain activity (i.e., neurotypes) will be used to determine what treatment works best for whom.”

Key Highlights of the Study

Multi-Task ERP Analyses
The study leveraged multiple cognitive and emotional tasks to capture a broader spectrum of brain responses, thereby enabling more robust classification of distinct depression subtypes.Predictive Neurotyping
Through comprehensive ERP assessment, researchers identified patterns linked to a higher likelihood of remission in depression, paving the way for more targeted clinical strategies. Combining ERPs from multiple tasks outperformed classifications based on more traditional single-task analyses.Implications for Precision Psychiatry
These findings underscore the potential of individualized treatment pathways—an approach backed by emerging research in the field of precision psychiatry, which calls for data-driven, personalized solutions to improve outcomes in mental health.

“This work is especially exciting because it bridges the gap between laboratory-based assessments and potential real-world clinical practice. We believe our new method can help physicians potentially select treatment but also help clinicians fine-tune therapeutic interventions to an individual’s unique neural signature,” commented Greg Hajcak, Chief Scientific Advisor of Universal Brain. “By leveraging multiple ERPs in varying tasks, we can aim to better predict who will respond to specific treatments, a key step in transforming how we approach depression management.”

Championing Precision Psychiatry

Universal Brain’s overarching mission is to integrate cutting-edge neuroscience with clinical insights to advance precision psychiatry—a transformative model of care that personalizes interventions based on individual biological, behavioral, and environmental factors. This focus resonates with emerging trends in psychiatric research to enhance treatment outcomes.

In close collaboration with academic institutions, research hospitals, and clinical partners, Universal Brain continues to drive neuroscience-based innovation that bridges the gap between academic discoveries and real-world patient care.

For more information on Universal Brain’s research and the company’s commitment to developing neuroscience-driven solutions for mental health, please visit universal-brain.com or email us at media@universal-brain.com.

About Universal Brain

Universal Brain is a science-driven technology company dedicated to revolutionizing mental healthcare by unlocking the power of precision psychiatry. Drawing on advances in neuroscience, data analytics, and engineering, Universal Brain develops innovative tools and platforms that personalize psychiatric treatment and improve patient outcomes. To learn more, visit www.universal-brain.com.

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SOURCE Universal Brain

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