Taiwan's PCB manufacturers—Zhen Ding Technology (TPE: 4958), Tripod Technology Corp. (Tripod, 3044.TW), and First Hi-tec Enterprise Co.,Ltd. (FHt, 5439.TWO)—reported robust September results, with Zhen Ding and Tripod setting new revenue records and FHt announcing capacity expansion plans to meet rising customer demand across advanced applications such as AI, servers, and automotive electronics.

Zhen Ding Technology, the world's largest PCB manufacturer, reported consolidated revenue of NT$19.36 billion (approx. USD 63 million or CNY 451 million) for September, up 32.15% month-on-month and 0.13% year-on-year, marking the second-highest level for the same month in its history. Third-quarter revenue reached NT$47.37 billion, up 23.98% from the previous quarter, and down 6.41% year-on-year, but up 0.63% in U.S. dollar terms. Cumulative revenue for the first three quarters totaled NT$125.65 billion, a year-on-year increase of 8.76%, setting a new record for the same period.

The company said September revenue hit this year's peak, supported by steady shipments of new mobile communication products. Revenue from server, automotive, optical communication, and IC substrate businesses all achieved double-digit annual growth, each setting monthly records—highlighting progress in Zhen Ding's high-end, diversified application strategy.

Looking ahead, Zhen Ding expects fourth-quarter operations to continue following seasonal trends, with strong contributions from IC substrate and server-related customers. The company noted that as the industry advances toward a new stage of "semiconductor-grade PCBs," it will continue deepening its presence in AI and advanced applications, with annual capital expenditures exceeding NT$30 billion planned for both 2025 and 2026. These investments aim to support a full range of PCB solutions across servers, optical communication, humanoid robots, and edge AI devices, positioning 2025 as a key year for growth driven by rising AI server and IC substrate demand.

Zhen Ding also announced that its subsidiary, Qingding Precision Electronics (Huai'an) Co., Ltd., has signed a RMB 238 million (excluding tax) construction contract with Jiangdu Construction Group for a new plant in Jiangsu Province's Huai'an Economic and Technological Development Zone. The facility, scheduled for completion between October 2025 and October 2026, will expand production and operational capacity.

In addition, Zhen Ding will make its debut at the TPCA Show 2025 (October 22–24, Taipei Nangang Exhibition Center), where it will showcase comprehensive PCB and IC substrate solutions spanning semiconductors, AI cloud infrastructure, AI terminal devices, and next-generation energy. Chairman Shen Qingfang and President Jian Zhenfu will speak at the Semiconductor × PCB Heterogeneous Integration Summit Forum on October 23, outlining the collaborative roadmap between the semiconductor and PCB sectors in the AI era.

Tripod Technology Corp. (3044.TW) also delivered record results, reporting NT$6.94 billion in September consolidated revenue, up 12.3% month-on-month and 18.4% year-on-year—a new monthly high. Third-quarter revenue totaled NT$19.39 billion, the company's best-ever quarterly performance, while cumulative revenue for the first nine months reached NT$54.42 billion, up 11.6% year-on-year and also a record for the period.

Tripod attributed the growth to early shipments ahead of China's National Day holiday and strong demand for DRAM module PCBs amid the memory market recovery. The company, which became Taiwan's leading automotive PCB supplier in 2023, is now actively expanding into high-density interconnect (HDI) applications. Most of its production capacity is based in mainland China, followed by Taiwan, with its Vietnam facility currently ramping up. Analysts expect Tripod's 2025 revenue and profit to hit new highs, maintaining its position as the most profitable per-share company in Taiwan's PCB sector.

Meanwhile, First Hi-tec Enterprise Co., Ltd. (FHt, 5439.TWO) posted record monthly revenue of NT$1.10 billion in September, up 4.7% month-on-month and 208.7% year-on-year, driven by rising customer demand. The company plans to expand capacity by 30% in 2025, focusing on specialized PCB applications, with an additional 20–30% increase in 2026 depending on construction progress.

Together, these results underscore the strong recovery and transformation of Taiwan's PCB industry as it accelerates into the AI-driven, semiconductor-integrated era, fueled by robust demand across server, automotive, and communication sectors.