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JCET Group Integration Turns Loss to Profit in 2019
2020-05-01SHANGHAI, April 30, 2020 -- Global leading semiconductor microsystem integration packaging and test provider, JCET Group (SH: 600584) reported the financial results for full year 2019, ended December 31, 2019.
2019 full year financial highlights:
- Revenue for the year was RMB 23,526 million, as compared to RMB 23,856 million in 2018.
- Generated RMB 3,176 million cash from operations, an increase of 26.6% from 2018. With net capex investments of RMB 2,736 million, free cash flow for the year was RMB 441 million.
- Net profit was RMB 89 million, as compared to a loss of 939 million in 2018.
- Earnings per share was RMB 0.06, as compared to RMB -0.65 in 2018.
JCET Group CEO Mr. Li Zheng said, "JCET Group is gradually realizing the synergy among the companies under the group with a series of integration and adjustment measures implemented. Our portfolio of technologies, capabilities and capacities match the needs of customers and the market more appropriately. JCET Group is working aggressively on advancements in R&D, production and operations and has made significant progress. In 2019, JCET Group gained a profit of RMB 89 million, which is a qualitative improvement compared with 2018. Our achievements are closely connected with our customers' recognition of JCET Group's brand, quality, service and technical capabilities."
JCET Group is an industry leader in the development of advanced packaging technologies, with a comprehensive portfolio of technical products and complete full turnkey services for our customers all over the world. Benefiting from both the semiconductor industry's continued rapid growth and recognition by customers of the company's brand and consistent outstanding quality, JCET Group ranks near the top of the global semiconductor packaging and test industry. With the 5G era ramping up, JCET Group will continue to invest in the development of solutions for 5G communication, mobile terminals, automotive electronics, big data memory, AI and IoT industries, while closely aligning with customers to achieve mutual success.
About JCET Group:
JCET Group is a leading global semiconductor microsystem integration packaging and test 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 three R&D centers, six manufacturing locations in China, Singapore and Korea, and sales centers around the world, providing close technology collaboration and efficient supply-chain manufacturing to customers in China and around the world.
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CONSOLIDATED BALANCE SHEET |
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31 December 2019 |
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Expressed in Renminbi Yuan |
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ASSETS |
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31 December 2019 |
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31 December 2018 |
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Current assets |
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Currency funds |
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2,569,393,396.00 |
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4,774,269,922.92 |
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Derivative financial assets |
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4,119,413.24 |
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1,922,363.72 |
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Notes receivable |
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0.00 |
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91,323,124.65 |
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Accounts receivable |
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3,349,731,893.13 |
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2,779,382,584.24 |
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Receivables financing |
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67,584,630.96 |
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0.00 |
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Prepayments |
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187,863,377.10 |
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197,362,287.60 |
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Other receivables |
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10,944,727.48 |
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151,613,133.40 |
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Inventories |
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2,730,914,425.68 |
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2,273,584,896.44 |
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Current portion of non-current assets |
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