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Zhen Ding Technology Holding (4958) investor relations material
Zhen Ding Technology Holding Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
2025 revenue reached NT$182.5bn, up 6.3% YoY, marking a record and ninth consecutive year as the world's largest PCB manufacturer.
Gross and operating margins improved, driven by high-end AI applications and optimized product mix.
Mobile Communications, Server/Optical, and IC Substrate segments all hit new revenue highs, with AI-related applications comprising nearly 70% of total revenue.
Capacity expansion is underway, with ten new facilities in Huai'an and Thailand to meet strong customer demand for high-end AI products.
Smart manufacturing and digital transformation initiatives are enhancing operational efficiency and profitability.
Financial highlights
Gross profit rose 11.3% YoY to NT$36.1bn; gross margin increased by 0.9ppts to 19.8%.
Operating profit grew 20.2% YoY to NT$13.9bn; operating margin up 0.9ppts to 7.6%.
Net income declined 19.0% YoY to NT$10.6bn; net margin fell 1.8ppts to 5.8%.
EPS was NT$6.91, down from NT$9.67 in 2024.
Cash and cash equivalents decreased to NT$71.2bn from NT$79.8bn.
Outlook and guidance
2026 expected to begin a new high-growth cycle, with accelerated expansion and strong order visibility for high-end AI servers, optical communications, and IC substrates.
Capex for 2026 projected to exceed NT$50bn, supporting phased capacity expansion.
Revenue from AI-related applications anticipated to further increase, with several projects reaching critical technical milestones.
- Record IC substrate and automotive/server growth, improved margins, and strong liquidity in 1H24.4958
Q2 202410 Feb 2026 - Record 1Q25 revenue up 23.3% YoY, net profit down, strong cash flow and expansion ongoing.4958
Q1 202510 Feb 2026 - Record 2024 results, strong AI-driven outlook, and major customer drove robust growth.4958
Q4 202410 Feb 2026 - Record 3Q24 results and robust IC substrate growth set the stage for a strong year-end.4958
Q3 202410 Feb 2026 - Record 1H25 revenue and profit growth, with strong cash and margin gains despite FX losses.4958
Q2 202510 Feb 2026 - Revenue up 8.8% to NT$125.65B, net profit down to NT$6.00B, gross margin at 19%.4958
Q3 202510 Feb 2026
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