[Public Notice+] JNTC Reports Operating Profit of 59.3 Billion KRW in H1, Up 17513% YoY

[Asia Economy Reporter Minji Lee] JNTC, a company specializing in 3D cover glass and smartphone connectors, achieved significant performance improvements despite the COVID-19 pandemic.

On the 14th, JNTC announced through a public disclosure that its consolidated operating profit for the first half of this year reached 59.3 billion KRW, a 17,513% increase compared to the previous year. Sales amounted to 199.2 billion KRW, up 51.11% during the same period, and net profit also rose by 3,353.19% to 60.1 billion KRW.

Performance improvements were also clear on a quarterly basis. Consolidated sales for the second quarter of this year were 94.3 billion KRW, a 66.80% increase compared to 56.5 billion KRW in the same quarter last year. Operating profit and net profit both turned positive at 22.5 billion KRW, reversing operating losses of 12.1 billion KRW and net losses of 11.5 billion KRW in the same period last year.

A JNTC representative explained, “Despite concerns over COVID-19 in the first half, sales in the cover glass segment actually increased,” but added, “However, profits decreased compared to the previous quarter due to a temporary increase in inventory provisions.”

JNTC recently completed preparations to supply 3D integrated (47-inch) cover glass products for vehicles. The company expects continued growth in cover glass sales, and although the connector business declined compared to the previous quarter due to production delays caused by COVID-19, it anticipates normalization in the second half of the year as production of new models expands. Additionally, JNTC is preparing to diversify its business with ultra-thin tempered glass (UTG) and new items, expecting sustained growth in the future.