Who are JCET (Jiangsu Changjiang Electronics)'s customers? Who does JCET (Jiangsu Changjiang Electronics) earn revenue from?

Revenue comes from counterparties including 미디어텍, Qualcomm, NXP반도체. Full sourced list: valuechain.wiki/jcet/customers.md

Who does JCET (Jiangsu Changjiang Electronics) pay? Who are its key suppliers?

Costs flow to Kulicke & Soffa, Advantest, raw materials & R&D (undisclosed) among others. Full sourced list: valuechain.wiki/jcet/suppliers.md

How does the street rate JCET (Jiangsu Changjiang Electronics)? What are the price targets?

Broker consensus on file: Buy 2 / Hold 1. Details: valuechain.wiki/jcet/consensus.md

Shanghai-listed · OSAT · World #3 (China's largest)

JCET (Jiangsu Changjiang Electronics)

China’s largest OSAT and the world’s No.3 (~12% share, $5B revenue). Provides packaging/test to Qualcomm, MediaTek, Samsung and NXP; buys bonders and testers from equipment makers.

Business categories Advanced Packaging & OSAT · Semiconductor Supply Chain · primary

600584.SS Updated Jul 12, 2026 5 AI consumers· 4 recurring

Per the valuechain.wiki graph, JCET (Jiangsu Changjiang Electronics) is directly linked to 6 companies (2 supply, 4 revenue relationships) and reaches 13 companies within two hops; the links are backed by 6 dated sources, 2 of them primary filings (as of 2026-07-12).

Annual return · 2026-09-04'21-34%'22+0.2%'23-15.2%'24+73.3%'25+28%YTD+36.3%

Money in ▸MediaTek●Amount ¥38.9B Qualcomm●Market share 12%NXP Semiconductors◐Amount ¥38.9B Samsung Electronics◐Amount ¥38.9B

JCET (Jiangsu Changjiang Electronics)RMB 38.87bn

▸ Money outKulicke & Soffa◐Amount ¥38.9B Advantest◐Amount ¥38.9Braw materials & R&D (undisclosed)○Amount ¥38.9B

Financials & Segments

Total revenue · RMB 38.87bn (2025 consolidated, +8.1%, record)
Customer concentration · China's largest and the world's No.3 OSAT. 2025 advanced-packaging revenue hit a record RMB 27bn (~69% of the group), advancing into chiplets and 2.5D/3D. Computing electronics (+42.6%), industrial/medical (+40.6%) and automotive (+31.7%) drove growth, with China's self-reliance policy supporting domestic volume. Net income attributable RMB 1.57bn.
Segments · Advanced packaging (chiplet, 2.5D/3D, flip-chip) · Traditional packaging & test

Revenue from

MediaTek High confidence· Amount ¥38.9B · JCET FY2025 매출(+8.1%)
Contract back-end for MediaTek — mobile/edge SoC volume flows into assembly/test demand.
Confirms EN JCET (PR Newswire) Published Apr 9, 2026: JCET FY2025 annual report — record revenue RMB 38.87bn (+8.1%), advanced packaging RMB 27bn
Confirms KO Digital Today Published Jun 1, 2025: OSAT rebound; JCET China No.1
Confirms EN TrendForce Published May 13, 2025: Top 10 OSAT 2024 (PTI No.5)
Confirms EN JCET Published May 1, 2025: JCET IR
Confirms EN Company IR / exchange filing Published Apr 1, 2025: JCET annual report (SSE)
Qualcomm High confidence· Market share 12% · 2024 · global OSAT share
Contract back-end for Qualcomm chips — a top global fabless customer, whose chip shipments are the back-end volume.
Mentions EN Analyst consensus (via Futubull) Published Apr 10, 2026: JCET (600584) FY2025 review — high-growth computing electronics, advanced-packaging buildout
Confirms EN JCET (PR Newswire) Published Apr 9, 2026: JCET FY2025 annual report — record revenue RMB 38.87bn (+8.1%), advanced packaging RMB 27bn
Confirms EN TrendForce Published May 13, 2025: Top 10 OSAT 2024 (PTI No.5)
Confirms EN JCET Published May 1, 2025: JCET IR
NXP Semiconductors Medium confidence· Amount ¥38.9B · JCET FY2025 매출(+8.1%)
Contract back-end for NXP auto/industrial chips — a customer tied to automotive-semi demand.
Confirms EN JCET (PR Newswire) Published Apr 9, 2026: JCET FY2025 annual report — record revenue RMB 38.87bn (+8.1%), advanced packaging RMB 27bn
Confirms EN TrendForce Published May 13, 2025: Top 10 OSAT 2024 (PTI No.5)
Confirms EN JCET Published May 1, 2025: JCET IR
Samsung Electronics Medium confidence· Amount ¥38.9B · JCET FY2025 매출(+8.1%)
Contract back-end for Samsung chips — a domestic OSAT absorbing in-China volume, an axis of the localization benefit.
Confirms EN JCET (PR Newswire) Published Apr 9, 2026: JCET FY2025 annual report — record revenue RMB 38.87bn (+8.1%), advanced packaging RMB 27bn
Confirms EN TrendForce Published May 13, 2025: Top 10 OSAT 2024 (PTI No.5)
Confirms EN JCET Published May 1, 2025: JCET IR

Pays to

Kulicke & Soffa Medium confidence· Amount ¥38.9B · JCET FY2025 매출(+8.1%)
Sources bonding equipment from Kulicke & Soffa — upstream supply for chiplet/stacking advanced-packaging capacity.
Confirms EN JCET (PR Newswire) Published Apr 9, 2026: JCET FY2025 annual report — record revenue RMB 38.87bn (+8.1%), advanced packaging RMB 27bn
Confirms EN TrendForce Published May 13, 2025: Top 10 OSAT 2024 (PTI No.5)
Confirms EN JCET Published May 1, 2025: JCET IR
Advantest Medium confidence· Amount ¥38.9B · JCET FY2025 매출(+8.1%)
Sources bonding/test equipment from Advantest — the upstream tool bottleneck for advanced-packaging capacity.
Confirms EN JCET (PR Newswire) Published Apr 9, 2026: JCET FY2025 annual report — record revenue RMB 38.87bn (+8.1%), advanced packaging RMB 27bn
Confirms EN TrendForce Published May 13, 2025: Top 10 OSAT 2024 (PTI No.5)
Confirms EN JCET Published May 1, 2025: JCET IR
raw materials & R&D (undisclosed) Low confidence· Amount ¥38.9B · JCET FY2025 매출(+8.1%)
Materials and R&D (undisclosed).
Confirms EN JCET (PR Newswire) Published Apr 9, 2026: JCET FY2025 annual report — record revenue RMB 38.87bn (+8.1%), advanced packaging RMB 27bn
Confirms EN TrendForce Published May 13, 2025: Top 10 OSAT 2024 (PTI No.5)

Value-chain ripple (2 tiers)

Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.

Company	Chain	'21	'22	'23	'24	'25	YTD
LG Electronics	lead2	-16.2	-20.9	-5.8	-9.5	+19.2	+105.5
Kyocera	lead2	+7.5	-2.1	+33.8	-24	+46.7	+65.4
Samsung Electronics	lead2	-9	-14.2	+20.9	-26.4	+212.9	+63.8
NVIDIA	lead2	+125.5	-50.3	+239	+171.2	+38.9	+23.2
Apple	lead2	+34.6	-26.4	+49	+30.7	+9.1	+18
Hubbell Incorporated	lead2	+35.6	+15.1	+42.4	+28.9	+7.4	+4.7
Honeywell Technologies	lead2	-0.3	+4.9	+0	+10	-6.4	+3.8
Xiaomi	lead2	-43.9	-21.1	-4.6	+209.7	-6.9	-19.9
MediaTek	lead1	+27.8	-26.6	+52.9	+58.3	+24.9	+168.1
NXP Semiconductors	lead1	+44.8	-29.2	+48.4	-8	+6.4	+5.9
Qualcomm	lead1	+22.3	-38.6	+35.1	+8.3	+13.8	+0.2
JCET (Jiangsu Changjiang Electronics)	node	-34	+0.2	-15.2	+73.3	+28	+36.3
Kulicke & Soffa	benef1	+92.4	-25.8	+25.5	-13.2	-0.3	+103.5
Advantest	benef1	+17	-2.3	+155.7	+49.5	+196	+29.9

YTD as of 2026-09-04 · source: Yahoo Finance

JCET (Jiangsu Changjiang Electronics) operates across Shanghai-listed, OSAT, World #3 (China's largest). It is +36.3% in 2026. Demand side (avg +54.6%), the stock (+36.3%) and supply side (avg +55%) are moving in step. Propagation has completed a lap, so the next leg depends on individual results more than chain direction. Among connected nodes the furthest ahead is MediaTek (+152.4%) and the furthest behind is Qualcomm (+0.2%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. Provides packaging/test to Qualcomm, MediaTek, Samsung and NXP; buys bonders and testers from equipment makers.

Analysis generated from returns as of 2026-09-04

Analyst ratings

Consensus: Buy 2 · Hold 1 · Sell 0 · Avg. target ¥51 · Price ¥67.36 (09-04) · Upside -24%

Broker	Rating	Target	Published
Goldman Sachs	中性 (Neutral)	¥50.9	May 25, 2026	Report ↗
Huatai Securities · 汤仕翯	买入 (Buy)	¥51.5	Apr 17, 2026	Report ↗
Guolian Minsheng Securities	推荐 (Recommend)	—	Apr 15, 2026	Report ↗

Domestic brokers (Huatai Buy, etc.) are constructive on advanced packaging growth, while Goldman Sachs in May 2026 raised its target but kept Neutral, flagging a valuation gap of roughly -30% versus the prevailing price.

Key Q&A

Who are JCET (Jiangsu Changjiang Electronics)'s customers? Who does JCET (Jiangsu Changjiang Electronics) earn revenue from?: Revenue comes from counterparties including 미디어텍, Qualcomm, NXP반도체. Full sourced list: valuechain.wiki/jcet/customers.md
Who does JCET (Jiangsu Changjiang Electronics) pay? Who are its key suppliers?: Costs flow to Kulicke & Soffa, Advantest, raw materials & R&D (undisclosed) among others. Full sourced list: valuechain.wiki/jcet/suppliers.md
If JCET (Jiangsu Changjiang Electronics) moves, who benefits? How far does the value-chain ripple reach?: Per the valuechain.wiki graph, JCET (Jiangsu Changjiang Electronics) is directly linked to 6 companies (2 supply, 4 revenue relationships) and reaches 13 companies within two hops; the links are backed by 6 dated sources, 2 of them primary filings (as of 2026-07-12).
How does the street rate JCET (Jiangsu Changjiang Electronics)? What are the price targets?: Broker consensus on file: Buy 2 / Hold 1. Details: valuechain.wiki/jcet/consensus.md

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