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What you need to know

  • Apple PCB maker Zhen Ding has enjoyed a bumper Q1.
  • It reported a 100% increase in profit year on year.
  • That's thanks to the high demand for MacBooks and iPads, fuelled by remote working and learning.

Apple PCB maker Zhen Ding technology has reported a yearly increase of 100% on its net profit for Q1, as MacBook and iPad demand has seen strong performance thanks to global remote working and learning.

As DigiTimes reports:

Flexible PCB specialist Zhen Ding Technology saw its net profit surge nearly 100% on year to NT$1.26 billion (US$42.2 million) in the first quarter of 2020 on revenues of NT$17.512 billion, with gross margins increasing 1.66pp to 17.63%.

Zhen Ding said the impressive profit was mainly driven by growing penetration of its flexible boards for non-handset applications which have seen strong demand amid the coronavirus pandemic to support remote work and learning. The company reportedly is a supplier for iPad and MacBook, and expects the shipment ratio for iPad series to grow to 25-30% in 2020, industry sources said.

Zhen Ding is mainly focused on handset production, and also supplies SLP (substrate-like PCB) for the iPhone.

As the report notes, Zhen Ding's success has largely been driven by strong demand for Apple's MacBook and iPad, which has risen sharply as people across the globe as people are forced to work from home or to study and take classes online.

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In its Q2 earnings call, Apple didn't release any guidance for Q3, however, it stated that it expects iPhone and wearable performance to worsen over the next three months. Conversely, it stated that Mac and iPad are expected to improve for the same reasons cited by DigiTimes in this latest report. It looks like Apple's own guidance is being reflected in the performance of its manufacturing partners.