Q3 2024 Financial Highlights：

Revenue wasRMB 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 wasRMB 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 wasRMB 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 wasRMB 1.08 billion,an increase of 10.6% year-on-year.

Earnings per share wasRMB 0.60,as compared to RMB 0.54 in Q3 YTD 2023.

SHANGHAI,Oct. 25,2024 -- 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 9.49billion,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,a record high in the company's history,and net profit attributable to owners of the parent of RMB 1.08billion,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

3

4

Accounts receivable

5,916

4,185

Receivables financing

35

38

Prepayments

133

104

Other receivables

117

87

Inventories

4,740

3,195

Other current assets

514

375

Total current assets

22,718

17,619

Non-current assets

Long-term receivables

33

33

Long-term equity investments

826

695

Other equity investments

434

447

Investment properties

83

86

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

10

17

Deferred tax assets

493

364

Other non-current assets

57

48

Total non-current assets

30,901

24,960

Total assets

53,619

42,579

LIABILITIES AND EQUITY

Sep 30,2023

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

1

3

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

15

14

Deferred income

424

384

Deferred tax liabilities

393

Other non-current liabilities

28

41

Total non-current liabilities

9,528

6,746

Total liabilities

25,139

16,428

Equity

Paid-in capital

1,789

1,789

Capital reserves

15,230

15,237

Accumulated other comprehensive income

410

543

Specialized reserves

1

Surplus reserves

257

257

Unappropriated profit

9,137

8,239

Total equity attributable to owners of the parent

26,824

26,065

Minority shareholders

1,656

86

Total equity

28,480

26,151

Total liabilities and equity

53,579

CONSOLIDATED INCOME STATEMENT (Unaudited)

RMB in millions,except share data

Three months ended

Nine months ended

Sep 30,2024

Sep 30,2023

Sep 30,2023

Revenue

9,491

8,257

24,978

20,430

Less: Cost of sales

8,331

7,071

21,748

17,596

Taxes and surcharges

21

36

56

82

Selling expenses

69

55

187

155

Administrative expenses

100

190

533

536

Research and development expenses

413

413

1,232

1,082

Finance expenses

119

26

108

77

Including: Interest expenses

105

84

297

215

Interest income

69

35

210

70

Add: Other income

39

103

125

176

Investment income / (loss)

(12)

(14)

(34)

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

(14)

(12)

(43)

(34)

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

3

17

(2)

62

Credit impairment (loss is expressed by "-")

6

(2)

(1)

(3)

Asset impairment (loss is expressed by "-")

(13)

(26)

(51)

(26)

Gain / (loss) on disposal of assets

(2)

5

3

21

Operating profit / (loss)

471

551

1,174

1,098

Add: Non-operating income

1

3

Less: Non-operating expenses

1

1

3

5

Profit / (loss) before income taxes

470

550

1,172

1,096

Less: Income tax expenses

16

72

101

122

Net profit / (loss)

454

478

1,071

974

Classified by continuity of operations

Profit / (loss) from continuing operations

454

478

1,071

974

Classified by ownership

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

457

478

1,076

974

Net profit / (loss) attributable to minority shareholders

(3)

(5)

Add: Unappropriated profit at beginning of period

8,680

7,293

8,239

7,154

Less: Cash dividends declared

178

357

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

9,137

7,771

9,771

Other comprehensive income,net of tax

(181)

(70)

(133)

280

Comprehensive income attributable to owners of the parent

(181)

(70)

(133)

280

Comprehensive income not be reclassified to profit or loss

(7)

(13)

10

Remeasurement gains or losses of a defined benefit plan

1

Change in the fair value of other equity investments

(7)

(13)

9

Comprehensive income to be reclassified to profit or loss

(181)

(63)

(120)

270

Exchange differences of foreign currency financial statements

(181)

(63)

(120)

270

Total comprehensive income

273

867

938

1,254

Including:

Total comprehensive income attributable to owners of the parent

276

408

943

1,254

Total comprehensive income attributable to minority shareholders

(3)

(5)

Earnings per share

Basic earnings per share

0.25

0.26

0.60

0.54

Diluted earnings per share

0.25

0.26

0.60

0.54

CONSOLIDATED CASH FLOW STATEMENT (Unaudited)

RMB in millions

Three months ended

Nine months ended

Sep 30,2023

CASH FLOWS FROM OPERATING ACTIVITIES

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

9,011

7,574

25,601

20,737

Receipts of taxes and surcharges refunds

139

52

337

267

Other cash receipts relating to operating activities

92

126

375

289

Total cash inflows from operating activities

9,242

7,752

26,313

21,293

Cash payments for goods and services

6,742

5,840

17,996

14,293

Cash payments to and on behalf of employees

1,198

899

3,446

2,972

Payments of all types of taxes and surcharges

284

180

573

646

Other cash payments relating to operating activities

111

221

364

349

Total cash outflows from operating activities

8,335

7,140

22,379

18,260

Net cash flows from operating activities

907

612

3,934

3,033

CASH FLOWS FROM INVESTING ACTIVITIES

Cash receipts from returns of investments

3,600

3,601

12,650

11,881

Cash receipts from investment income

15

15

30

68

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

1

99

6

131

Total cash inflows from investing activities

3,616

3,715

12,686

12,080

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

1,219

845

3,089

2,434

Cash payments for investments

4,000

5,181

12,350

11,161

Net cash payments for acquisition of subsidiaries and other business units

1,520

1,520

Total cash outflows from investing activities

6,739

6,026

16,959

13,595

Net cash flows from investing activities

(3,123)

(2,311)

(4,273)

(1,515)

CASH FLOWS FROM FINANCING ACTIVITIES

Cash proceeds from investments by others

32

776

262

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

765

86

Cash receipts from borrowings

2,050

4,823

5,057

6,487

Total cash inflows from financing activities

2,855

5,833

6,749

Cash repayments for debts

1,048

3,723

3,011

5,464

Cash payments for distribution of dividends or profit and interest expenses

83

78

435

545

Other cash payments relating to financing activities

21

22

74

69

Total cash outflows from financing activities

1,152

3,823

3,520

6,078

Net cash flows from financing activities

898

1,032

2,313

671

EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS

(46)

(7)

(42)

30

NET INCREASE IN CASH AND CASH EQUIVALENTS

(1,364)

(674)

1,932

2,219

Add: Cash and cash equivalents at beginning of period

10,621

5,346

7,325

2,453

CASH AND CASH EQUIVALENTS AT END OF PERIOD

9,257

4,672

9,672

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,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.