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The Board is cautiously optimistic on the Group's business prospects, underpinned by the opportunities in the semiconductor industry and strong demand for our test contacting solutions which is highly customised and manufactured to our customers' requirements. Our revenue flow is also supported by the recurring sales of consumable parts. The Group will continue to place utmost emphasis and commitment on the expansion of our product line in parallel with the advancement in technology along with the broadening of our services, business opportunities and growth in the overseas markets. The Group anticipates demand will continue growing for its existing products as well as new products related to 5G, automotive, IoT and other semiconductor applications to be introduced in the future.
The Group had incorporated a subsidiary named JF TestSense Sdn Bhd for the new test interface business with additional value-added test program conversion, test hardware design, test program development and human capital development services in semiconductor test industry. The Group is now able to provide total turnkey test contacting, interfacing and test program engineering services to semiconductor companies globally thus, moving the Group up in the value chain of the semiconductor industry.
Meanwhile, the expansion plans to set up a manufacturing facility in China are progressing well and on schedule. To recap, the Group is partnering with Hubble Technology Investment Co., Ltd ("HTI") from China to design, develop, manufacture and supply high performance test contactors in China. It is envisaged that the facility in China will greatly enhance the Group's footprint and network in China.
On balance, given the aforementioned factors, the outlook for the Group remains positive despite the challenging environment. Barring any unforeseen circumstances, the Board expects the Group to achieve a satisfactory performance for the financial year ending 30 June 2021.
Managing Director of JF Tech, Dato’ Foong Wei Kuong (拿督冯伟强) said, “Having started the financial year on a firm footing, we are very happy to have
kept the ball rolling by delivering yet another solid set of results notwithstanding the Covid-19 pandemic. In fact, our first-half net profit has already equaled the full-year FY20 net profit and this is also the third consecutive record-breaking quarterly top and bottom-line performance the Group has delivered.”
“We are also pleased to share that all our key growth drivers are progressing according to plan. Our strategy to continue moving up the semiconductor value chain is coming along well. We are now able to provide total turnkey test contacting, interfacing and test program engineering services to semiconductor companies globally via our wholly-owned subsidiary, JF TestSense Sdn. Bhd. These value-added services provided to our customers complement JF Tech’s core business of design, development and manufacturing of test contacting products.”
“Over in China, the setup our new manufacturing facility there is advancing nicely and on schedule. To recap, we are partnering with Hubble Technology Investment Co., Ltd ("HTI"), a wholly-owned subsidiary of Huawei Investment & Holding Co., Ltd. to design, develop, manufacture and supply high performance test contactors in China. It is envisaged that the facility in China will greatly enhance our footprint and network in China. We target the plant to commence operations by 3Q of 2021, and this will add a new income stream to the Group.”
“At JF Tech, we strive to continuously innovate and invest in the creation of intellectual properties, which is one of our key competitive advantages. Recently, the Group is delighted to be granted a new patent for 5G testing applications. All in all, given the aforementioned factors, we remain upbeat on the prospects of the Group despite the challenging environment. Barring any unforeseen
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circumstances, we expect to achieve a satisfactory performance in the current financial year.” Dato’ Foong further added.