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Zhen Ding Reports 22.39% YoY Revenue Drop
December 19, 2022 | Zhen DingEstimated reading time: 1 minute
Zhen Ding Technology Holding Limited, a leading global PCB manufacturer, reported November 2022 revenue of NT$15,021 million, down 22.39% YoY and down 29.11% MoM. For January through November 2022, cumulative revenue reached NT$154,666 million, up 15.20% YoY. According to Zhen Ding, the lockdown measures in China have impacted a portion of smartphone peak season shipments in the supply chain, leading to the decline of some order pull-ins in November. With the gradual recovery of the supply chain, Zhen Ding will actively work with its clients and strive to minimize the impact from the supply chain disruption. The company expects that its full year revenue and net profit will both mark record highs again.
In addition, yesterday, Zhen Ding announced on behalf of its subsidiary, Avary Holding (SZSE: 002938), that the BoD has resolved to issue A shares via a private placement. The number of shares to be issued will be no more than 150 million shares and the total amount of the issuance will be no more than RMB4 billion. The main uses of the proceeds include the capacity expansion for high-end HDI and SLP products in Huai'an Park 3, the capacity expansion for automotive and server products in Huai'an Park 1, digital transformation, and fulfilling the needs of its working capital.
Overall, Zhen Ding’s capacity expansion plans are all on schedule, and its ABF fab in Shenzhen has entered the sample certification stage. While the global macro-economic outlook is still highly uncertain, Zhen Ding will continue to execute its growth strategy.
Under the One ZDT strategy, the company will leverage its four product lines to penetrate fast-growing application markets, further strengthening its leading position in the PCB industry.
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