Ding Tai High-Tech invests an additional 5 billion yuan to upgrade PCB tool high-endization; product structure upgrade leads to a 102.5% increase in net profit excluding non-recurring gains and losses

Yangtze Business Daily report ●Yangtze Business Daily reporter Pan Rundong

Benefiting from the industry’s rapid development, Ding Tai High-Tech (301377.SZ), a manufacturer of PCB tooling and precision tools, has achieved the best performance in its history.

On the evening of March 26, Ding Tai High-Tech released its 2025 annual report. The company recorded operating revenue of RMB 2.144 billion, up 35.70% year over year; attributable net profit to shareholders of RMB 434 million, up 91.14% year over year; and non-recurring profit and loss adjusted net profit of RMB 409 million, up 102.53% year over year.

Yangtze Business Daily reporter noted that Ding Tai High-Tech’s operating revenue, attributable net profit, and non-recurring profit and loss adjusted net profit all hit new highs since listing. The company said that, as the share of sales from high-end products increased, the product structure was upgraded, driving the gross margin to a record high.

The company’s investment plan announced on the same day drew market attention. Ding Tai High-Tech plans to invest RMB 5.0 billion to build an intelligent manufacturing headquarters base project, to enhance its supply capacity for high-end core products and consolidate its competitive advantages in the PCB tooling business.

Rapid growth in performance

According to materials, Ding Tai High-Tech’s products cover four categories: precision cutting tools, grinding and polishing materials, functional film materials, and intelligent CNC equipment. They are mainly used in fields such as PCB, 3C, and precision machinery manufacturing, and widely serve end markets including artificial intelligence, embodied robots, low Earth orbit satellites, high-end equipment manufacturing, intelligent vehicles, semiconductors, consumer electronics, communications, and industrial control.

Ding Tai High-Tech was listed in 2022. In that year, both operating revenue and attributable net profit declined. In 2023, operations improved somewhat, but it still showed a pattern of “increasing revenue without increasing profit.” In 2024, performance delivered both revenue and profit growth: operating revenue rose 19.65% year over year, while attributable net profit grew at a slow pace of 3.45%.

In 2025, Ding Tai High-Tech’s performance made a leap forward. According to the annual report, in 2025, the company achieved operating revenue of RMB 2.144 billion, up 35.70% year over year; attributable net profit to shareholders of RMB 434 million, up 91.14% year over year; and non-recurring profit and loss adjusted net profit of RMB 409 million, up 102.53% year over year. The growth rates of attributable net profit and non-recurring profit and loss adjusted net profit were far higher than the growth rate of revenue, and profitability quality improved.

Regarding the surge in 2025 performance, Ding Tai High-Tech said it benefited from the boom in AI servers and demand for high-end PCBs. The share of sales from high-end products such as micro-hole drills, long-to-long diameter ratio drill bits, and coated drill pins increased, enabling an upgraded product structure. With the increase in the revenue share of high-end products, the company’s gross margin hit a record high. In 2025, gross margin was 42.34%, up 6.54 percentage points from 2024.

The annual report shows that, based on 2024 sales volume, Ding Tai High-Tech’s global market share in PCB drill bits was 26.8%, remaining number one in the industry. The company’s position remains strongly protected. The company has completed technical reserves for drill bits with a long-to-long diameter ratio of more than 50 times, forming a technical ladder of “a generation for mass production and another generation in reserve.” It precisely matches high-end application scenarios such as AI compute power and semiconductor packaging substrates, continuously capturing a greater share of the high value-added segment.

Worth noting is that Ding Tai High-Tech’s new business has achieved breakthroughs in multiple areas, and its second growth curve has gradually taken shape. The annual report shows that the company’s intelligent CNC equipment achieved operating revenue of RMB 76.7892 million, up 39.89% year over year. Breakthroughs were made in core products such as internal and external grinding machines and CNC thread grinding machines. Market recognition was gained through iterative upgrades of devices such as intelligent drill bit libraries.

In addition, in 2025, the company established two subsidiaries, Ding Tai Zhongke and Ding Tai Intelligent, to deploy core components for embodied robots and enter a new high-end manufacturing track. In 2025, its grinding and polishing materials achieved revenue of RMB 192 million, up 27.61% year over year. High-end brush products matched the precision machining demand of AI servers.

Global expansion accelerates

While building a coordinated ecosystem of “precision cutting tools + materials + intelligent equipment + robot components,” Ding Tai High-Tech’s global expansion is also accelerating.

In 2025, the company’s overseas sales revenue was RMB 196 million, up 111.60% year over year. According to the annual report, Ding Tai High-Tech has built a global capacity network of “China + Southeast Asia + Europe.” In Thailand, the drill-bit monthly production capacity is 15 million units, which has achieved mass production. In Europe, by acquiring Germany’s MPK Kemmer, it fills gaps in high-end cutting tool technologies and customer resources, opening up overseas space for long-term growth.

To advance its global expansion, Ding Tai High-Tech is currently pursuing its listing in Hong Kong. At present, the listing application has been submitted and accepted.

Domestic capacity construction is also accelerating. On the evening of March 26, Ding Tai High-Tech released an announcement stating that it plans to sign an investment agreement with the People’s Government of Houjie Town, Dongguan City, investing RMB 5.0 billion to build an intelligent manufacturing headquarters base project. This will strengthen the company’s PCB tooling main business and expand into a new track of high-performance film materials.

The announcement shows that the project’s fixed-asset investment will be RMB 4.0 billion, advanced in three phases. Phase one and phase two each involve investment of RMB 2.0 billion, and phase three involves investment of RMB 1.0 billion. The project will mainly engage in the R&D and production of micro drill bits, high-end industrial cutting tools, and high-performance film materials.

Ding Tai High-Tech said this investment is a core strategic deployment aligned with the high-end trend in the PCB and cutting tools industry. The company currently faces capacity bottlenecks; after the project is completed, it will significantly enhance the supply capacity of high-end core products and consolidate its advantages in the PCB tooling main business. At the same time, the new business of high-performance film materials will become a new growth engine for the company. The company will rely on the Dongguan industrial cluster to optimize its production layout, link up overseas capacity, and strengthen technology barriers and global competitiveness.

Editors: ZB

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