JCET Continues Solid Growth Momentum in Q1 2022

Continued Optimization of Product Portfolio and Focus on High Value-Added Applications

Q1 2022 Financial Highlights：

• Revenue was RMB 8.14 billion, an increase of 21.2% year on year. A record high first quarter in the company's history.
• Generated RMB 1.64 billion cash from operations, an increase of 36.1% year on year. With net capex investments of RMB 0.87 billion, free cash flow for the quarter was RMB 0.77 billion.
• Net profit was RMB 0.86 billion, a record high first quarter in the company's history.
• Earnings per share was RMB 0.48, as compared to RMB 0.24 in Q1 2021.

SHANGHAI, April 30, 2022 /PRNewswire/ -- Today, JCET (SSE: 600584), a leading global provider of integrated circuit (IC) manufacturing and technology services, announced its financial results for the first quarter of 2022. The financial report shows that the company had a positive start in 2022, achieving revenue of RMB 8.14 billion in the first quarter, up 21.2% year-on-year, and net profit of RMB 0.86 billion, both record high first quarter in the company's history.

As IC back-end manufacturing technology continues to develop in the direction of high density and low power consumption, various IC packaging solutions provide higher added value to the semiconductor industry. JCET managed well the market fluctuations and challenges by continuously optimizing its product portfolio and focusing on high value-added applications. JCET improved its market competitiveness, which was widely recognized and affirmed by customers.

JCET proactively took various preventive solutions and control measures to protect its employees' health and safety and maintain operation continuity under the current Covid-19 situation.  In addition, JCET took corporate social responsibility actions and was involved deeply in local community anti-pandemic activities through charitable donations and other means. These activities contributed to our local communities and supported economic growth.

"The growth of demand for market innovation will drive the steady growth of IC back-end manufacturing market in the coming years," said Mr. Li Zheng, Chief Executive Officer of JCET. "JCET is focusing on high value-added market application areas such as automotive electronics, power devices, and high-performance computing. This will expand our technology advantages and mass production competitive advantages that we accumulated over the years in the fields of high-density wire bond package, system-in-package, wafer level packaging, high-reliability discrete devices, etc. We strive to overcome the market fluctuations and supply chain uncertainties under the current Covid-19 pandemic situation. JCET will continue to provide high-quality production and technology services to our customers." Mr. Li Zheng added "JCET announced the implementation of an equity incentive plan for employees for the first time in the company's 19 years of history. The plan will drive sustainable growth, secure shareholders' interests, and motivate our employees. With the strong support from our customers, shareholders, and partners, we have a high sense of responsibility and strong confidence for the company's future development."

For more information, please refer to the JCET Q1 FY2022 report.