JCET Finished Strong 2021 Leveraging Innovative Technologies and Manufacturing Core Competencies to Provide Value to Customers

Q4 2021 Financial Highlights:

  • Revenue was RMB 8.59 billion, an increase of 11.5% year on year.  A record high fourth quarter in the company's history.
  • Generated RMB 2.64 billion cash from operations, an increase of 46.2% year on year.  With net capex investments of RMB 1.34 billion, free cash flow for the quarter was RMB 1.30 billion.
  • Net profit was RMB 0.84 billion, a record high fourth quarter in the company's history.
  • Earnings per share was RMB 0.49, as compared to RMB 0.34 in Q4 2020.

Full Year 2021 Financial Highlights:

  • Revenue was RMB 30.50 billion, an increase of 15.3% year on year. A record high in the company's history.
  • Generated RMB 7.43 billion cash from operations, an increase of 36.7% year on year.  With net capex investments of RMB 4.09 billion, free cash flow was RMB 3.34 billion.
  • Net profit was RMB 2.96 billion, a record high in the company's history.
  • Earnings per share was RMB 1.72, as compared to RMB 0.81 in 2020.

SHANGHAI, March 31, 2022 /PRNewswire/ -- JCET (SSE: 600584), a leading global provider of integrated circuit (IC) manufacturing and technology services, today announced its full year financial results for the year ended December 31, 2021. According to the financial report, in 2021 JCET achieved robust growth and historical profitability, with revenue of RMB 30.5 billion and net profit of RMB 2.96 billion.

In 2021, JCET further enhanced its international operations and management, integrated and improved the efficiency of its global resources, and strengthened the synergy among its global manufacturing operations. JCET's 6 factories are moving forward in tandem, and through lean production and continuous improvements in cost control, JCET's sustainable profitability has been further enhanced. At the same time, through diversified optimization and integration, JCET's supply chain is more robust and resilient. These all enable JCET to provide timely, sustainable, stable and high-quality products and services to its global customers.

Over the past three years, JCET's revenue and profit have improved significantly, and the company's operations and production have entered a steady cycle, with a long-term mechanism for stable growth gradually taking shape. The investment in fixed assets and forward-looking R&D is becoming stronger and more strategic. With last year's completion of the RMB 5 billion private placement, acquisition of ADI's Singapore test facility and mass production of the new plant in Suqian, JCET has built up its capability to serve a diversified customer base, operating from a position of strength.

"In 2021, JCET continued to strengthen its level of professional and international management, and production efficiency was further improved." said Mr. Li Zheng, JCET's Chief Executive Officer. "At the same time, the company's advantages in technological innovation and our global production structure have been further optimized, thereby positioning us to achieve solid growth in our performance throughout the semiconductor supply and demand cycle. With the evolution from 'packaging and testing' to 'chipset backend manufacturing', the value of packaging and testing in the industry will be re-perceived and will promote the multi-party synergistic development of IC ecology, bringing new development opportunities for the company. In 2022, the JCET management team is confident that we will be able to continue our upward momentum and create value for our customers by providing the best products and services," continued Mr. Zheng.

 For more information, please refer to the JCET FY2021 Report