Q3 2020 Financial Highlights:

•  Revenue was RMB 6.79 billion. On a comparable basis, taking into account
   the accounting change in revenue recognition, it was an increase of 11.2%  
   year on year (see note). 
•  Generated RMB 1.48 billion cash from operations, up 171.3% year on year. 
   With net capex investments of RMB 0.69 billion, free cash flow for the 
   quarter was RMB 0.79 billion. 
•  Net profit was RMB 0.40 billion, a record high in the company's history. 
•  Earnings per share was RMB 0.25, as compared to RMB 0.05 in Q3 2019. 
	
Note: During the reporting period, we optimized the business model for the 
purchase and sale of certain packaged products, of which JCET Group no longer 
bears the general inventory risk on the main raw materials. In accordance with 
PRC GAAP, both revenue and costs of goods sold were recorded on the net basis 
and decreased by RMB 1.05 billion respectively. This change had no impact on 
the company's net profit. Assuming that revenue was still recognized by the 
gross method (should be recorded on the net basis according to PRC GAAP), it 
would be RMB 7.84 billion, an increase of 11.2% over the same period last year.

JCET Group Co., Ltd. (Shanghai Stock Exchange code: 600584), a world leading 
provider of semiconductor microsystem integration packaging and testing 
services announced financial results for the third quarter 2020, ended 
September 30, 2020. Revenue was RMB 6.79 billion and net profit was RMB 0.40 
billion, showing steady revenue growth and continued improvement in 
profitability. JCET has achieved revenue of RMB 18.76 billion and net profit of 
RMB 0.76 billion through the first three quarters, both representing record 
highs for the company.

JCET has continued to grow its strategic partnerships with global industry 
leading semiconductor manufacturers by accelerating the growth of high volume 
production capacity of advanced assembly and test processes and engaging in 
robust market strategies. These initiatives have led to improvements in key 
financial metrics.

Mr. Li Zheng, Chief Executive Officer of JCET Group, said, "By expanding the 
integration of the resources in each of our worldwide operations, we have 
accelerated the growth of our production capacity for devices designed for key 
applications in the 5G, high-performance computing and high-end storage 
markets. Additionally, the technical services capabilities of each of our 
global factories have been enhanced significantly due to the continued 
improvements driven by our company's world-class management team." 

Ms. Janet Chou, Chief Financial Officer of JCET Group, said, "With strong 
execution and operational discipline, JCET delivered record profit in the third 
quarter of 2020. We remain committed to driving profitable growth and cash 
generation. Given the improved liquidity position and healthier balance sheet, 
we will continue to invest in critical technologies to strengthen our core 
competencies."

About JCET Group: 

JCET Group is a leading global semiconductor system 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 two R&D centers in China and Korea, six manufacturing locations in 
China, Korea and Singapore, and sales centers around the world, providing close 
technology collaboration and efficient supply-chain manufacturing to customers 
in China and around the world.

SOURCE: JCET Group