# JCET (600584.SS)
> 중국 최대 OSAT(후공정 조립·테스트), 세계 3위(점유율 약 12%, 매출 $5B). 퀄컴·미디어텍·삼성·NXP 등 팹리스·IDM에 패키징·테스트 제공. 본더·테스터를 장비사에서 조달.
Canonical: https://valuechain.wiki/jcet · Updated: 2026-07-12T06:15:10.065955+00:00 · Source: ValueChain.wiki (refined facts, cited)

**인용용 요약**: 밸류체인 그래프 기준 JCET의 직접 연결 기업은 6곳(관계 기준 공급 2·매출 4)이고, 사슬을 2차까지 넓히면 11곳에 닿는다. 링크의 근거 출처는 6건이며 그중 1차공시가 2건이다 (valuechain.wiki, 2026-07-12 기준).

## Financials & segments
- 총매출: RMB 388.7억 (2025 연결, +8.1%, 역대 최대)
- 고객 집중도: 중국 최대·세계 3위 OSAT. 2025년 첨단 패키징 매출 RMB 270억(전사 ~69%)으로 사상 최대, 칩렛·2.5D/3D로 고도화. 컴퓨팅 전자(+42.6%)·산업의료(+40.6%)·차량(+31.7%)이 성장 견인, 중국 자립 정책이 국내 물량 지원. 귀속순이익 RMB 15.7억.
- 사업부문: 첨단 패키징 (칩렛·2.5D/3D·플립칩), 전통 패키징·테스트

## Annual stock return (as of 2026-07-10)
- 2021: -34%
- 2022: +0.2%
- 2023: -15.2%
- 2024: +73.3%
- 2025: +28%
- 2026 YTD: +104.6%

## Value-chain annual returns (top→bottom: demand → node → supply; YTD as of 2026-07-10)
| Company | Chain | 2021 | 2022 | 2023 | 2024 | 2025 | YTD |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Dell | lead3 | +51.2% | -26.6% | +95.9% | +53% | +11.2% | +248.1% |
| Marvell | lead3 | +84.6% | -57.5% | +63.7% | +83.8% | -22.8% | +177.8% |
| Lenovo | lead3 | -4.6% | -20.9% | +36.2% | +18.2% | -0.6% | +175.7% |
| Nebius | lead3 | · | · | · | · | +202.2% | +162.4% |
| AMD | lead3 | +56.9% | -55% | +127.6% | -18.1% | +77.3% | +160.5% |
| HPE | lead3 | +37.4% | +4.5% | +9.7% | +29.1% | +15.5% | +104% |
| TeraWulf | lead3 | +77.1% | -95.5% | +258.2% | +135.8% | +103% | +91.2% |
| Datadog | lead3 | +80.9% | -58.7% | +65.1% | +17.7% | -4.8% | +89.4% |
| Aurora Innovation | lead3 | · | -89.3% | +261.2% | +44.2% | -39% | +66.1% |
| CrowdStrike | lead3 | -3.3% | -48.6% | +142.5% | +34% | +37% | +59.7% |
| Mercury Systems | lead3 | -37.5% | -18.7% | -18.3% | +14.8% | +73.8% | +47.9% |
| 에이수스(ASUS) | lead3 | +35.5% | -12.9% | +72% | +41.1% | -14.1% | +46.7% |
| Wiwynn | lead3 | +24.7% | -22.3% | +206.4% | +3.5% | +64.4% | +45.1% |
| Illumina | lead3 | +2.8% | -46.9% | -31.1% | -1.3% | -1.8% | +45% |
| 기가바이트 | lead3 | +82.3% | -3.4% | +173.2% | -15.9% | -4.7% | +44.4% |
| Cloudflare | lead3 | +73% | -65.6% | +84.2% | +29.3% | +83.1% | +36.1% |
| Quanta | lead3 | +22.2% | -12.8% | +254.5% | +12.7% | +8.9% | +33.4% |
| CoreWeave | lead3 | · | · | · | · | · | +24.1% |
| SK텔레콤 | lead3 | +7.9% | -12% | +15.8% | +15.5% | +37.5% | +23.4% |
| Celestica | lead3 | +37.9% | +1.3% | +159.8% | +215.2% | +220.3% | +21.7% |
| Snowflake | lead3 | +20.4% | -57.6% | +38.6% | -22.4% | +42.1% | +19.2% |
| 지리자동차 | lead3 | -40.8% | -22.9% | -40.3% | +98.5% | +14.5% | +18.9% |
| Broadcom | lead3 | +56.5% | -13.3% | +104.2% | +110.5% | +50.6% | +16% |
| 위스트론 | lead3 | +7.9% | +9.7% | +272.7% | -1.6% | +22.7% | +14.8% |
| 알파벳 (구글) | lead3 | +65.3% | -39.1% | +58.3% | +36% | +66% | +14.3% |
| Foxconn | lead3 | -5.1% | +2.8% | +7.8% | +80.1% | +26.9% | +10.9% |
| IREN | lead3 | · | -92.3% | +472% | +37.3% | +284.6% | +8.9% |
| 아마존 | lead3 | +2.4% | -49.6% | +80.9% | +44.4% | +5.2% | +6.3% |
| 메타 플랫폼스 | lead3 | +23.1% | -64.2% | +194.1% | +66% | +13.1% | +1.6% |
| Tempus AI | lead3 | · | · | · | · | +74.9% | -1.4% |
| IBM | lead3 | +16.7% | +10.6% | +21.8% | +39.3% | +38.2% | -1.6% |
| Super Micro | lead3 | +38.8% | +86.8% | +246.2% | +7.2% | -4% | -3.3% |
| 제너럴 모터스 | lead3 | +40.8% | -42.4% | +7.9% | +49.8% | +54.2% | -3.8% |
| IonQ | lead3 | · | -79.3% | +259.1% | +237.1% | +7.4% | -4.5% |
| Schrödinger | lead3 | -56% | -46.3% | +91.5% | -46.1% | -7.3% | -7.8% |
| 현대차 | lead3 | -16.7% | -4.7% | +16.2% | +12.3% | +158.8% | -7.8% |
| Uber | lead3 | -17.8% | -41% | +149% | -2% | +35.5% | -8.8% |
| Tesla | lead3 | +49.8% | -65% | +101.7% | +62.5% | +11.4% | -9.3% |
| Recursion Pharmaceuticals | lead3 | · | -55% | +27.9% | -31.4% | -39.5% | -13% |
| Toyota Motor Corporation | lead3 | +58.1% | -13.4% | +63% | +1.8% | +21.8% | -18.2% |
| 마이크로소프트 | lead3 | +52.5% | -28% | +58.2% | +12.9% | +15.6% | -20% |
| 알리바바 | lead3 | -49% | -25.8% | -10.8% | +11.8% | +75.8% | -22.7% |
| 텐센트 | lead3 | -28.6% | -14.2% | -28.7% | +49.8% | +52.1% | -23.2% |
| 바이두 | lead3 | · | -8.2% | -23.4% | -13.5% | +74.2% | -24.5% |
| Rigetti Computing | lead3 | · | -92.9% | +35.1% | +1449.2% | +45.2% | -25.3% |
| Oracle | lead3 | +36.9% | -4.6% | +30.9% | +60% | +18.1% | -27.4% |
| Palantir | lead3 | -22.7% | -64.7% | +167.4% | +340.5% | +135% | -28.7% |
| ServiceNow | lead3 | +17.9% | -40.2% | +82% | +50.1% | -27.7% | -29.7% |
| Kratos | lead3 | -29.3% | -46.8% | +96.6% | +30% | +187.8% | -36.5% |
| Pony.ai | lead3 | · | · | · | · | +1% | -54.6% |
| LG전자 | lead2 | -16.2% | -20.9% | -5.8% | -9.5% | +19.2% | +85.5% |
| 삼성전자 | lead2 | -9% | -14.2% | +20.9% | -26.4% | +212.9% | +77.9% |
| 교세라 | lead2 | +7.5% | -2.1% | +33.8% | -24% | +46.7% | +63% |
| Apple | lead2 | +34.6% | -26.4% | +49% | +30.7% | +9.1% | +16.2% |
| NVIDIA | lead2 | +125.5% | -50.3% | +239% | +171.2% | +38.9% | +13.3% |
| 샤오미 | lead2 | -43.9% | -21.1% | -4.6% | +209.7% | -6.9% | -27.2% |
| 미디어텍 | lead1 | +27.8% | -26.6% | +52.9% | +58.3% | +24.9% | +124.3% |
| NXP반도체 | lead1 | +44.8% | -29.2% | +48.4% | -8% | +6.4% | +35.8% |
| Qualcomm | lead1 | +22.3% | -38.6% | +35.1% | +8.3% | +13.8% | +11.7% |
| JCET | node | -34% | +0.2% | -15.2% | +73.3% | +28% | +104.6% |
| Kulicke & Soffa | benef1 | +92.4% | -25.8% | +25.5% | -13.2% | -0.3% | +150.1% |
| Advantest | benef1 | +17% | -2.3% | +155.7% | +49.5% | +196% | +17.1% |

JCET의 논점은 '중국 최대·세계 3위 OSAT라는 규모와 국산화 수혜의 교집합'이다. 점유 약 12%(매출 $5B)로 퀄컴·미디어텍·삼성·NXP 등 글로벌 팹리스·IDM의 후공정을 대행하는데, 미·중 갈등 속 중국 반도체 자립 정책이 국내 물량을 밀어주면서 첨단 패키징(칩렛 등)으로 확장한다. 후공정 물량은 최종 칩 출하에 직결돼 반도체 사이클을 그대로 타되, 본더·테스터를 장비사에서 조달하는 구조라 장비 리드타임이 캐파 병목. 리스크는 글로벌 고객의 지정학 리스크와 첨단 패키징 경쟁. 그래프 파급: 퀄컴·미디어텍·삼성·NXP 칩 물량이 수요, Advantest·K&S 장비가 상류. (analysis as of 2026-07-10)

## Money in · revenue from (4)
### 미디어텍 (high)  → /mediatek.md
- metric: 금액 ¥38.9B · JCET FY2025 매출(+8.1%)
- note: 미디어텍 칩의 후공정을 대행 — 모바일·엣지 SoC 물량이 조립·테스트 수요로 전이.
- [confirms] JCET(PR Newswire) (EN, filing, published 2026-04-09) https://www.prnewswire.com/news-releases/jcet-releases-2025-annual-report-posts-record-high-full-year-revenue-and-higher-profit-before-tax-302738478.html: "JCET FY2025 매출 RMB 388.7억(+8.1%), 첨단패키징 RMB 270억(~69%)"
- [confirms] 디지털투데이 (KO, news, published 2025-06-01) https://www.digitaltoday.co.kr/news/articleView.html?idxno=528364: "OSAT 실적 반등, JCET 중국 1위"
- [confirms] 트렌드포스 (EN, analysis, published 2025-05-13) https://www.trendforce.com/presscenter/news/20250513-12577.html: "미디어텍에 후공정 조립·테스트 공급/제공."
- [confirms] JCET (EN, ir, published 2025-05-01) https://www.jcetglobal.com/en/: "미디어텍에 후공정 조립·테스트 공급/제공."
- [confirms] 회사 IR/거래소 공시 (EN, filing, published 2025-04-01) https://www.jcetglobal.com/en/investor/: "연차보고서: 매출·고객·사업."

### Qualcomm (high)  → /qualcomm.md
- metric: 점유율 12% · 2024 · OSAT 세계 점유율
- note: 퀄컴 칩의 후공정 조립·테스트를 대행 — 글로벌 팹리스 최대 고객군으로, 칩 출하량이 곧 후공정 물량.
- [mentions] 증권가 컨센서스(Futubull 인용) (EN, research, published 2026-04-10) https://news.futunn.com/en/post/71530886/jcet-group-600584-2025-annual-report-commentary-high-growth-in: "2025 연보 점검: 컴퓨팅 전자 +42.6%, 첨단패키징 가속"
- [confirms] JCET(PR Newswire) (EN, filing, published 2026-04-09) https://www.prnewswire.com/news-releases/jcet-releases-2025-annual-report-posts-record-high-full-year-revenue-and-higher-profit-before-tax-302738478.html: "JCET FY2025 매출 RMB 388.7억(+8.1%), 첨단패키징 RMB 270억(~69%)"
- [confirms] 트렌드포스 (EN, analysis, published 2025-05-13) https://www.trendforce.com/presscenter/news/20250513-12577.html: "Qualcomm에 후공정 조립·테스트 공급/제공."
- [confirms] JCET (EN, ir, published 2025-05-01) https://www.jcetglobal.com/en/: "Qualcomm에 후공정 조립·테스트 공급/제공."

### NXP반도체 (mid)  → /nxp.md
- metric: 금액 ¥38.9B · JCET FY2025 매출(+8.1%)
- note: NXP 차량·산업 칩의 후공정을 대행 — 자동차 반도체 수요에 연동된 고객.
- [confirms] JCET(PR Newswire) (EN, filing, published 2026-04-09) https://www.prnewswire.com/news-releases/jcet-releases-2025-annual-report-posts-record-high-full-year-revenue-and-higher-profit-before-tax-302738478.html: "JCET FY2025 매출 RMB 388.7억(+8.1%), 첨단패키징 RMB 270억(~69%)"
- [confirms] 트렌드포스 (EN, analysis, published 2025-05-13) https://www.trendforce.com/presscenter/news/20250513-12577.html: "NXP반도체에 후공정 조립·테스트 공급/제공."
- [confirms] JCET (EN, ir, published 2025-05-01) https://www.jcetglobal.com/en/: "NXP반도체에 후공정 조립·테스트 공급/제공."

### 삼성전자 (mid)  → /samsung-electronics.md
- metric: 금액 ¥38.9B · JCET FY2025 매출(+8.1%)
- note: 삼성 칩의 후공정을 대행 — 국산 OSAT로 중국 내 물량을 흡수하는 국산화 수혜의 축.
- [confirms] JCET(PR Newswire) (EN, filing, published 2026-04-09) https://www.prnewswire.com/news-releases/jcet-releases-2025-annual-report-posts-record-high-full-year-revenue-and-higher-profit-before-tax-302738478.html: "JCET FY2025 매출 RMB 388.7억(+8.1%), 첨단패키징 RMB 270억(~69%)"
- [confirms] 트렌드포스 (EN, analysis, published 2025-05-13) https://www.trendforce.com/presscenter/news/20250513-12577.html: "삼성전자에 후공정 조립·테스트 공급/제공."
- [confirms] JCET (EN, ir, published 2025-05-01) https://www.jcetglobal.com/en/: "삼성전자에 후공정 조립·테스트 공급/제공."

## Money out · pays to (3)
### Kulicke & Soffa (mid)  → /kulicke-soffa.md
- metric: 금액 ¥38.9B · JCET FY2025 매출(+8.1%)
- note: 쿨리케앤소파에서 본딩 장비를 조달 — 칩렛·스태킹 등 첨단 패키징 캐파의 상류 공급.
- [confirms] JCET(PR Newswire) (EN, filing, published 2026-04-09) https://www.prnewswire.com/news-releases/jcet-releases-2025-annual-report-posts-record-high-full-year-revenue-and-higher-profit-before-tax-302738478.html: "JCET FY2025 매출 RMB 388.7억(+8.1%), 첨단패키징 RMB 270억(~69%)"
- [confirms] 트렌드포스 (EN, analysis, published 2025-05-13) https://www.trendforce.com/presscenter/news/20250513-12577.html: "Kulicke & Soffa에서 본딩·테스트 장비 매입."
- [confirms] JCET (EN, ir, published 2025-05-01) https://www.jcetglobal.com/en/: "Kulicke & Soffa에서 본딩·테스트 장비 매입."

### Advantest (mid)  → /advantest.md
- metric: 금액 ¥38.9B · JCET FY2025 매출(+8.1%)
- note: 어드밴테스트에서 본딩·테스트 장비를 조달 — 첨단 패키징 캐파 증설의 상류 장비 병목.
- [confirms] JCET(PR Newswire) (EN, filing, published 2026-04-09) https://www.prnewswire.com/news-releases/jcet-releases-2025-annual-report-posts-record-high-full-year-revenue-and-higher-profit-before-tax-302738478.html: "JCET FY2025 매출 RMB 388.7억(+8.1%), 첨단패키징 RMB 270억(~69%)"
- [confirms] 트렌드포스 (EN, analysis, published 2025-05-13) https://www.trendforce.com/presscenter/news/20250513-12577.html: "Advantest에서 본딩·테스트 장비 매입."
- [confirms] JCET (EN, ir, published 2025-05-01) https://www.jcetglobal.com/en/: "Advantest에서 본딩·테스트 장비 매입."

### 원재료·소재·R&D (비공개) (low)
- metric: 금액 ¥38.9B · JCET FY2025 매출(+8.1%)
- note: 제조용 원재료·소재·R&D(비공개).
- [confirms] JCET(PR Newswire) (EN, filing, published 2026-04-09) https://www.prnewswire.com/news-releases/jcet-releases-2025-annual-report-posts-record-high-full-year-revenue-and-higher-profit-before-tax-302738478.html: "JCET FY2025 매출 RMB 388.7억(+8.1%), 첨단패키징 RMB 270억(~69%)"
- [confirms] 트렌드포스 (EN, analysis, published 2025-05-13) https://www.trendforce.com/presscenter/news/20250513-12577.html: "제조용 원재료·소재·R&D(비공개)."

## 질문별 엔드포인트
- 누가 JCET의 고객인가? JCET의 매출은 어디서 오는가? → https://valuechain.wiki/jcet/customers.md
- JCET의 주요 공급사는 어디인가? JCET의 비용은 누구에게 가는가? → https://valuechain.wiki/jcet/suppliers.md
- JCET 주가가 움직이면 누가 수혜를 보는가? JCET의 가치사슬 파급은 어디까지인가? → https://valuechain.wiki/jcet/ripple.md
- 증권가가 보는 JCET: 목표주가와 투자의견은? → https://valuechain.wiki/jcet/consensus.md

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