Zhen Ding Technology Holding (4958) Investor presentation summary

Business performance and growth drivers

• Achieved record 1H26 revenue of NT$89.2bn, up 13.9% YoY, with gross margin rising to 22.4% and operating margin to 7.0% due to high-end AI product mix and strong demand for servers, optical modules, and IC substrates.

• Server/Optical Module/IC Substrate revenue grew 113% YoY in 1H26, now 21.6% of total revenue, reflecting a structural shift toward high-value applications.

• Revenue CAGR from 2015-2025 was 8%, with a 10-year average ROE of 11.9%.

• 2025 revenue reached NT$182.5bn, with a market cap of NT$558.6bn as of August 2026.

• 52,108 employees and 28 facilities, including 19 smart factories, support global operations.

Strategic initiatives and capacity expansion

• Investing NT$80bn in 2026 for capacity expansion, with 13 new plants under construction and 16 more planned, targeting high-growth areas like HDI/mSAP, HLC, IC substrates, and advanced FPCs.

• Global production footprint expanding, with new plants in China and Thailand; Thailand Fab 1 achieved break-even in July 2026.

• Capacity expansion aligns with customer qualification and mass production schedules, aiming to convert investments into revenue and profit from 2026 to 2030.

• 2030 target: 57 plants globally, up from 28 in 2026.

Technology leadership and product innovation

• Leading in high-end PCB, HDI, HLC, and IC substrate technologies, with advanced capabilities in ABF substrates and mSAP processes.

• R&D investment reached NT$7.8bn in 1H26, 8.7% of revenue, supporting next-gen AI, server, and optical module products.

• Showcased 1.6T optical modules and 34-layer AI server boards at SEMICON Taiwan 2026, targeting next-gen data centers.

• Product portfolio covers AI servers, smartphones, AR/VR, and wearables, with a focus on high-frequency, high-speed, and multi-layer solutions.