JCET Group
ConvictionContext
Back-end IC manufacturing services -- contract assembly, advanced packaging (flip-chip, fan-out WLP, 2.5D/3D, SiP, chiplet integration) and final test billed per-unit/per-wafer to fabless designers, IDMs and foundries. Capital-intensive, capacity-utilization-driven margins.
Revenue
RMB 38.87B FY2025~$5.4B USD) -- record highRev growth
+8.1% YoYFY2025); third consecutive year of growth since 2023Gross margin
~13.9%FY2025, approximate) -- structurally low for OSATOp margin
~5.0%FY2025, approximateCapex intensity
High -- aggressive advanced-packaging capacity buildcapex materially exceeds free cash flow in build-out periodsMarket cap
~$23.6B USDSSE: 600584; RMB ~170.2B market cap, ~1.79B shares x price RMB 100.73, as of 2026-07-07, at ~7.2 CNY/USDThe read
Where our coverage leans
Coverage leans bullish
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Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage 2026-07· sign in (free) for the analyst summary; Pro unlocks full intelligence