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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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View original content:https://www.prnewswire.co.uk/news-releases/jcet-q2-2024-net-profit-attributable-to-the-parent-increased-by-258-quarter-on-quarter-hitting-a-record-high-for-revenue-302229441.html

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Marine Biological Laboratory Appoints Nicole A. Theodosiou as Burroughs Wellcome Director of Education

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WOODS HOLE, Mass., July 23, 2026 /PRNewswire/ — The Marine Biological Laboratory (MBL) has appointed Nicole A. Theodosiou, Ph.D., as its next Burroughs Wellcome Director of Education at the Marine Biological Laboratory. She will join the MBL on September 8.

Theodosiou brings more than two decades of experience in science education, academic leadership, and program development. She joins the MBL from Union College in Schenectady, New York, where she held a number of leadership roles focused on curriculum innovation, faculty development, and undergraduate STEM education. Most recently, she served as Special Projects Director for Initiatives in Pedagogy & Course Design. Previously, she directed the Howard Hughes Medical Institute Inclusive Excellence Initiative, led the Biochemistry Program, and served as a faculty member in the Department of Biology.

Throughout her career, Theodosiou has developed interdisciplinary educational programs, led faculty development initiatives, and advanced innovative approaches to teaching and learning. She is a member of the Society for Developmental Biology Academy and served on the Society’s Board of Directors as chair of its Professional Development and Education Committee, where she helped create professional development programs and educational resources for scientists nationwide.

At the MBL, Theodosiou will lead the institution’s educational programs, including its internationally renowned Advanced Research Training Courses (ARTCs), undergraduate and high school programs, and other educational initiatives that support the Laboratory’s mission of advancing biological discovery through research and education.

“Education has been central to the MBL’s mission since our founding in 1888,” said Nipam H. Patel, Director of the MBL. “Nicole brings a remarkable combination of scientific expertise, educational leadership, and strategic vision. Her commitment to experiential learning and developing innovative educational programs makes her an outstanding addition to our leadership team as we work to magnify the MBL’s educational impact for the next generation of scientists. “

Theodosiou has maintained a longstanding connection to the MBL throughout her career. She participated in the Laboratory’s Gene Regulatory Networks course in 2015, collaborated with the Marine Resource Center in support of her research, and has mentored students who have participated in MBL educational programs. She has described the MBL’s educational ecosystem as “unparalleled” and its tradition of learning by doing as closely aligned with her own philosophy of science education.

“The MBL has always been a place where scientific discovery and education go hand in hand,” said Theodosiou. “Its tradition of learning by doing and global community has inspired generations of researchers, including myself. I’m honored to join the MBL community and look forward to strengthening and building on its extraordinary legacy to inspire and train the next generation of scientists. “

Theodosiou earned a Ph.D. in Genetics from Yale University and a bachelor’s degree in biology from Swarthmore College. Her research as a developmental biologist has focused on vertebrate evolution and development, while her educational leadership has emphasized creating accessible, research-driven learning environments that integrate science, education, and communication.

About the Marine Biological Laboratory

The Marine Biological Laboratory (MBL) is dedicated to scientific discovery—exploring fundamental biology, understanding biodiversity and the environment, and informing the human condition through research and education. Founded in Woods Hole, Massachusetts, in 1888, the MBL is a private, nonprofit institution.

Media Contact:
Samantha Cummis
Scummis@mbl.edu
973-800-4118

View original content to download multimedia:https://www.prnewswire.com/news-releases/marine-biological-laboratory-appoints-nicole-a-theodosiou-as-burroughs-wellcome-director-of-education-302833514.html

SOURCE Marine Biological Laboratory

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Marine Biological Laboratory Appoints Nicole A. Theodosiou as Burroughs Wellcome Director of Education

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WOODS HOLE, Mass., July 23, 2026 /PRNewswire/ — The Marine Biological Laboratory (MBL) has appointed Nicole A. Theodosiou, Ph.D., as its next Burroughs Wellcome Director of Education at the Marine Biological Laboratory. She will join the MBL on September 8.

Theodosiou brings more than two decades of experience in science education, academic leadership, and program development. She joins the MBL from Union College in Schenectady, New York, where she held a number of leadership roles focused on curriculum innovation, faculty development, and undergraduate STEM education. Most recently, she served as Special Projects Director for Initiatives in Pedagogy & Course Design. Previously, she directed the Howard Hughes Medical Institute Inclusive Excellence Initiative, led the Biochemistry Program, and served as a faculty member in the Department of Biology.

Throughout her career, Theodosiou has developed interdisciplinary educational programs, led faculty development initiatives, and advanced innovative approaches to teaching and learning. She is a member of the Society for Developmental Biology Academy and served on the Society’s Board of Directors as chair of its Professional Development and Education Committee, where she helped create professional development programs and educational resources for scientists nationwide.

At the MBL, Theodosiou will lead the institution’s educational programs, including its internationally renowned Advanced Research Training Courses (ARTCs), undergraduate and high school programs, and other educational initiatives that support the Laboratory’s mission of advancing biological discovery through research and education.

“Education has been central to the MBL’s mission since our founding in 1888,” said Nipam H. Patel, Director of the MBL. “Nicole brings a remarkable combination of scientific expertise, educational leadership, and strategic vision. Her commitment to experiential learning and developing innovative educational programs makes her an outstanding addition to our leadership team as we work to magnify the MBL’s educational impact for the next generation of scientists. “

Theodosiou has maintained a longstanding connection to the MBL throughout her career. She participated in the Laboratory’s Gene Regulatory Networks course in 2015, collaborated with the Marine Resource Center in support of her research, and has mentored students who have participated in MBL educational programs. She has described the MBL’s educational ecosystem as “unparalleled” and its tradition of learning by doing as closely aligned with her own philosophy of science education.

“The MBL has always been a place where scientific discovery and education go hand in hand,” said Theodosiou. “Its tradition of learning by doing and global community has inspired generations of researchers, including myself. I’m honored to join the MBL community and look forward to strengthening and building on its extraordinary legacy to inspire and train the next generation of scientists. “

Theodosiou earned a Ph.D. in Genetics from Yale University and a bachelor’s degree in biology from Swarthmore College. Her research as a developmental biologist has focused on vertebrate evolution and development, while her educational leadership has emphasized creating accessible, research-driven learning environments that integrate science, education, and communication.

About the Marine Biological Laboratory

The Marine Biological Laboratory (MBL) is dedicated to scientific discovery—exploring fundamental biology, understanding biodiversity and the environment, and informing the human condition through research and education. Founded in Woods Hole, Massachusetts, in 1888, the MBL is a private, nonprofit institution.

Media Contact:
Samantha Cummis
Scummis@mbl.edu
973-800-4118

View original content to download multimedia:https://www.prnewswire.com/news-releases/marine-biological-laboratory-appoints-nicole-a-theodosiou-as-burroughs-wellcome-director-of-education-302833514.html

SOURCE Marine Biological Laboratory

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Canada’s investment industry and business community welcome Ontario’s commitment to join regulatory passport system

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Industry, business, and professional associations voice strong support for greater regulatory harmonization and a more competitive Canadian economy

TORONTO, July 23, 2026 /CNW/ — Canada’s investment industry and business community welcome Ontario’s commitment to join the country’s securities regulatory passport system, marking a significant step toward greater regulatory harmonization and a more efficient and competitive Canadian capital market.

A coalition of associations representing firms and professionals from across Canada’s capital markets sector, together with a broad cross-section of the business community, strongly supports the announcement by Ontario Finance Minister Peter Bethlenfalvy at the recent meeting of Canada’s finance ministers, convened by Federal Finance Minister Francois-Philippe Champagne, and supported by their provincial and territorial counterparts.

Ontario’s participation in the passport system will make it easier for firms to operate and raise capital across Canada, while reducing unnecessary regulatory duplication and costs. More broadly, it advances the national effort to remove internal trade barriers, boost productivity and strengthen Canada’s economic competitiveness.

The passport system has already demonstrated that greater regulatory coordination can be achieved while respecting provincial jurisdiction. Participating regulators retain their authority and distinct roles, while firms benefit from a system in which decisions made by a principal regulator are generally recognized across participating jurisdictions.

Ontario’s participation creates an opportunity not only to reduce duplication but also to strengthen the system as a whole. A more integrated model can better leverage the expertise and capabilities of regulators across the country, creating opportunities for greater regulatory specialization and leadership in areas where individual jurisdictions have particular strengths.

For firms, greater harmonization means more predictable regulation, less duplication, and a more efficient regulatory environment. For investors, it supports a framework that maintains strong investor protection while responding more effectively to an increasingly complex and competitive global marketplace. For Canada, it helps create a more attractive environment in which to invest, launch new products and raise capital.

This coalition stands ready to work with governments and securities regulators across Canada to support Ontario’s timely and successful implementation of the passport system and build on the progress already made. We encourage all parties to move quickly to bring Ontario into the existing framework, while preserving the features that have made the passport system work so effectively.

Ontario’s commitment is a milestone and an important step toward a more integrated, efficient and competitive capital market that will strengthen the Canadian economy and better serve Canadian investors and businesses.

About the coalition

The Canadian Bankers Association (CBA) is the voice of more than 60 domestic and foreign banks that help drive Canada’s economic growth and prosperity. The CBA advocates for public policies that contribute to a sound, thriving banking system to ensure Canadians can succeed in their financial goals. 

The Canadian ETF Association (CETFA) is the national voice of Canada’s ETF industry, representing approximately 96 per cent of exchange traded fund (ETF) assets in Canada. CETFA promotes the growth, sustainability and integrity of Canada’s ETF industry. It keeps investment professionals informed about ETF developments, educates investors about ETFs and their benefits, and debunks ETF myths.

CFA Societies Canada is a collaboration of the 12 Canadian CFA Institute member societies, representing over 21,000 CFA charter holders in Canada. Its mission is to lead the investment profession in Canada by advancing the highest professional standards, integrity, and ethics for the ultimate benefit of Canadian society.

Chartered Professional Accountants of Canada (CPA Canada) is one of the most influential accounting organizations in the world. As a non-regulatory body comprised of individual CPA members, CPA Canada supports the profession and represents Canadian CPAs at the national and international levels. Nationally, CPA Canada acts in the public interest to promote transparency in financial markets, prepares CPAs for a rapidly evolving business environment through extensive guidance and programming and contributes to standard setting and policy making. Globally, CPA Canada works together with international bodies to build a stronger accounting profession worldwide. Its dedicated efforts help shape public policy, influence regulatory frameworks and establish high professional standards that reflect the evolving needs of the accounting industry.

The Alternative Investment Management Association (AIMA) is the global representative of the alternative investment industry, with around 2,100 corporate members in over 60 countries. AIMA’s fund manager members collectively manage more than US$4 trillion in hedge fund and private credit assets. AIMA draws upon the expertise and diversity of its membership to provide leadership in industry initiatives such as advocacy, policy and regulatory engagement, educational programs and sound practice guides. AIMA works to raise media and public awareness of the value of the industry. AIMA set up the Alternative Credit Council (ACC) to help firms focused in the private credit and direct lending space. The ACC currently represents over 250 members that manage US$2 trillion of private credit assets globally. AIMA is committed to developing skills and education standards and is a co-founder of the Chartered Alternative Investment Analyst designation (CAIA) – the first and only specialized educational standard for alternative investment specialists. AIMA is governed by its Council (Board of Directors). AIMA was founded in 1990, with the AIMA Canada subsidiary formed in 2003.

The Ontario Chamber of Commerce (OCC) is the indispensable partner of business and Canada’s largest, most influential provincial chamber. It is an independent, non-profit advocacy and member services organization representing a diverse network of 60,000 members. The OCC convenes, mobilizes and empowers business and local chambers in pursuit of its purpose: to bring inclusive and sustainable prosperity to Ontario’s businesses, workers, and communities.

The Pension Investment Association of Canada (PIAC) has been the foremost voice for Canadian pension funds in matters related to pension investment and governance since 1977. PIAC is composed of over 130 of the largest pension plans in the country who manage over $3.5 trillion of assets on behalf of millions of Canadians. Its mission is to promote sound investment practices and good governance for the benefit of plan sponsors and beneficiaries.

The Portfolio Management Association of Canada (PMAC) represents over 300 asset management firms that manage more than $4 trillion in assets. Members are all fiduciaries managing investments in the best interests of their clients, which include private individuals, foundations, universities and pension plans. PMAC employs a collaborative information-sharing business model and advocates on behalf of its members on securities regulation and government policy matters. The association’s mission is to advocate the highest standards of unbiased portfolio management in the interest of investors served by members.

The Securities and Investment Management Association (SIMA) empowers Canada’s investment industry. The association, formerly The Investment Funds Institute of Canada (IFIC), is the leading voice for the securities and investment management industry, which oversees approximately $4.5 trillion in assets for over 20 million investors and the Canadian capital markets. Our members–including investment fund managers, investment and mutual fund dealers, capital markets participants, and professional service providers–are committed to creating a resilient, innovative investment sector that fuels long-term economic growth and creates opportunities for all Canadians.

SOURCE Securities and Investment Management Association

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