#China #Shanghai #financial report #JCET Group #IC Manufacturing

JCET Reports Record High Revenue in 2024 Annual Report

On April 20, 2025, JCET Group, a leading innovator in integrated circuit (IC) back-end manufacturing, published its annual report for the fiscal year ended December 31, 2024. The financial highlights were compelling, showcasing a significant upward trend in revenue and profitability.

Q4 2024 Performance Highlights

For the fourth quarter of 2024, JCET achieved a revenue of RMB 10.98 billion, reflecting a remarkable increase of 19.0% compared to the same period last year. This represented a quarter-on-quarter growth of 15.7%, marking the first time in the company’s history that quarterly revenue surpassed the RMB 10 billion mark. Additionally, the net profit attributable to the parent company's owners reached RMB 0.53 billion, up 7.3% year-on-year and 16.7% quarter-on-quarter.

Annual Overview

Throughout 2024, JCET demonstrated robust performance with a total revenue of RMB 35.96 billion, an impressive rise of 21.2% from the previous year. The net profit attributable to owners of the parent also showed a positive trend, increasing by 9.4% to reach RMB 1.61 billion. This growth is attributed to JCET's ongoing efforts in innovation, customer engagement, and the successful commercialization of advanced technologies. For the past six years, the company has maintained a strong positive cash flow, generating RMB 5.83 billion from operations in 2024.

Strategic Investments in Technology

In 2024, JCET focused on enhancing its core applications and investing in advanced packaging technologies to strengthen customer loyalty. The company’s initiatives have led to a significant increase in revenue from the advanced packaging sector, which accounted for over 72% of its total annual revenue. These actions are pivotal as they position JCET as a leader in the competitive semiconductor manufacturing landscape, particularly in high-performance sectors.

Expansion in High-Performance Electronics

Particularly noteworthy is the considerable revenue growth in sectors such as computing electronics and automotive electronics, with increases of 38.1% and 20.5%, respectively. JCET has been actively developing tailored solutions for high-performance computing systems, thereby solidifying its presence in high-demand markets. The company's innovative efforts have not gone unnoticed, strengthening its relationships with leading industry players and enhancing its market share.

Commitment to Research and Development

Investments in research and development reached RMB 1.72 billion in 2024, which was 19.3% higher than the previous year. JCET's commitment to innovation is underscored by its substantial patent portfolio, which expanded to include a total of 3,030 patents after filing 587 new applications during the year. The company’s breakthroughs in multi-dimensional fan-out packaging and plastic-encapsulated power modules for new energy applications are notable milestones that underscore its focus on technological excellence and product efficiency.

Major Projects and Expansion Plans

Moving forward, JCET has outlined several major projects aimed at refining its industrial footprint in advanced technologies. The acquisition of an 80% stake in SanDisk (Shanghai) has been a strategic move to bolster its operations and capabilities. Additionally, the new Manufacturing Base in Jiangyin, which focuses on high-performance chip manufacturing, has commenced operations, while a new Automotive Chip Back-End Manufacturing Base in Shanghai is expected to start in the latter half of 2025.

CEO Statement

Mr. Li Zheng, CEO of JCET, remarked, “Our focus on high-value applications has catalyzed our transformation into a leading player in advanced semiconductor packaging. Given the ongoing shifts within the semiconductor market, we will continue to advance technological innovation and foster collaborative relationships across the supply chain.”

Conclusion

JCET's 2024 annual report is a testament to its resilience and ambitious trajectory in the semiconductor industry. With a solid strategic foundation and a clear vision for the future, JCET is poised for sustained growth as it navigates the dynamic landscape of technological advancement and market demand.

For more detailed insights, please refer to the full JCET FY2024 Report.