Zhen Ding Announced Its Operating Results for the First Half of 2025
Zhen Ding Technology Holding Limited (Ticker: 4958), a global leading PCB manufacturer, today announced its consolidated financial results for the third quarter of 2025. Revenue for the quarter was NT$47,366 million, up 24.0% QoQ but down 6.4% YoY, primarily due to foreign exchange impacts. Net income was NT$3,589 million, and net income attributable to the parent company was NT$2,392 million, with an EPS of NT$2.46. For the first three quarters of 2025, revenue reached NT$125,652 million, up 8.8% YoY, marking a record high for the same period. Net income was NT$6,002 million; net income attributable to the parent company was NT$3,629 million and EPS was NT$3.79.
According to Zhen Ding, the 6.4% YoY decline in third-quarter revenue was primarily due to currency fluctuations; measured in U.S. dollars, revenue actually increased by 0.6% YoY. Gross margin for the quarter was 22.0%, down 0.5 percentage points from the same period last year, primarily reflecting continued investments in AI-related capacity, which led to a 0.6-percentage-point increase in depreciation-to-revenue ratio versus a year ago. For the first three quarters of 2025, cumulative revenue rose 8.8% YoY to a record high for the same period. All four major application segments recorded YoY growth, with IC substrates posting the strongest increase of 30%. Gross margin for the first three quarters increased by 0.3 percentage points YoY to 18.5%, and operating margin rose by 1.2 percentage points to 6.4%, reflecting continued improvements in operational efficiency.
