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1709

和益 Chemicals As of 2026-06-17 Updated daily after market close

steady quality, fair valuation.

1 active signal
252d high
This page refreshes daily after the close. Add 和益 to your watchlist to track signal changes on your next visit.
Valuation 77Quality 68Growth 44Momentum 65Chips 97

Is 和益 a buy? Fundamentals and valuation first

  • Above-average profitability.Operating margin is in the 70th market percentile. Latest quarterly ROE ≈ 2.9%.

  • Valuation is neutral.PE is in the 26th market percentile; within its own history, PE is around the 56th percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 20.9% of volume (net buy).

  • Signals are active now.On the latest data, signals such as 252-day price high are active — see the historical forward returns after each occurrence below.

Chip flow

Bullish +0.86
BearishNeutralBullish

Single-sided accumulation, concentration rising — bullish

  • Single-sided accumulation, concentration rising — bullish
  • 台灣摩根士丹利 holds 2,953 lots
  • sellers have 873 lots left, ~30 sessions to clear

Window from 2026-01-17 · Price +22% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 台灣摩根士丹利 has accumulated 2,953 lots since the start (sold 0%), still adding.
  • Main distributor 美林 peaked at 526 lots, has sold 32%, 360 left, paused recently.
  • TDCC big holders (absolute) >1000-lot holders +1.78pp, mid holders +2, retail -2.04pp — concentration shifting upward.
  • Foreign hedge-desk net short Net short -814 lots (inferred from branch profile, mostly hedging — not necessarily bearish, not case-confirmed).
Branch inventory reconstruction
Accumulating holders Branches that accumulated shares during the window and still hold positive inventory; they are the absorbing side.
Distributing sellers Branches that built inventory earlier and have been selling it down; the remaining number estimates what has not cleared.
Net-short desks Trading-desk branches with negative inventory or net selling, often hedge, offsetting, or short-term flow. It is not automatically a bearish view.
Accumulating
台灣摩根士丹利摩根大通凱基-台北第一金-中山新加坡商瑞銀美商高盛
Distributing
美林富邦-南屯合庫-嘉義兆豐-三重花旗環球統一-桃園
Desks
own scale
富邦-高雄元大-汐止元大-台中中港華南永昌-大安
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 台灣摩根士丹利 +2,953
    sold 0%· still adding
  • 摩根大通 +2,841
    sold 1%· still adding
  • 凱基-台北 +1,822
    sold 8%· still adding
  • 第一金-中山 +1,592
    sold 0%
  • 新加坡商瑞銀 +1,007
    sold 0%· still adding
  • 美商高盛 +658
    sold 0%· still adding

Distributing

  • 美林 360 left
    sold 32%· paused recently
  • 富邦-南屯 120 left
    sold 76%· paused recently
  • 合庫-嘉義 192 left
    sold 43%· ~19 sessions to clear
  • 兆豐-三重 158 left
    sold 39%· ~16 sessions to clear
  • 花旗環球 137 left
    sold 39%· paused recently
  • 統一-桃園 24 left
    sold 88%· paused recently

Desks

  • 富邦-高雄 -546
    unclassified
  • 元大-汐止 -479
    unclassified
  • 元大-台中中港 -401
    unclassified
  • 華南永昌-大安 -360
    unclassified
Still selling 873 lots ~30 sessions to bottom at most
Recent buy/sell force +4,845 absorbed / -649 sold buyers slightly ahead
Hedge-desk net short -248 lots potential cover-buying, not selling pressure
TDCC big holders · absolute-holding cross-check
>1000-lot holder share Retail (<400 lots) share Price (right axis)

Direction matches: big-holder share rose while retail share fell.

Describes chip flow, not investment advice. Branch data discloses only high-volume branches with ~1-day lag; TDCC is weekly. Inventory is a relative reconstruction from the window start, not absolute holdings.

Historical evidence

Signals active now

These signals are true on the latest data, with this stock's own historical forward-return stats after each occurrence.

252-day price high (breakout)

Active

Adjusted close makes a new 252-day high; repeats within 20 days counted once.

35 historical occurrences (since 2008-05-05)
Average forward return after 252-day price high (breakout)。20-day: Win 38.2%, Sample 34, Median -0.86%, Excess -1.56%, Beat mkt rate 47.1%；60-day: Win 60.6%, Sample 33, Median +4.61%, Excess +3.93%, Beat mkt rate 69.7%；120-day: Win 72.7%, Sample 33, Median +7.42%, Excess +6.31%, Beat mkt rate 57.6%

120 days after: historical avg +6.6%

20-day -0.11%
60-day +4.42%
120-day +6.6%
20-day
60-day
120-day
Win
38.2%
60.6%
72.7%
Sample
34
33
33
Median
-0.86%
+4.61%
+7.42%
Excess
-1.56%
+3.93%
+6.31%
Beat mkt rate
47.1%
69.7%
57.6%

Over 33 occurrences, 120-day forward avg gained 6.6%, beat the market by 6.31 pts; win rate 72.7%.

Valuation regime and subsequent returns

Each day's PE is converted to its own-history percentile (as of that day), then we look at adjusted-close returns over the next 240 trading days by valuation regime.

PE percentile bandSample days240-day avg returnMedianWin rateAvg excess (vs index)
0-20 392+16.7% +19.6% 80.6% -3.8%
20-40 443+9.7% +7.3% 85.1% -8.8%
40-60 You are here607+8.8% -3.1% 42.7% -5%
60-80 744+3.4% +0.1% 50.4% -13.8%
80-100 848+12% +5.9% 63.4% -3%

Percentiles use an expanding own-history window (no look-ahead); forward return is 240 trading days on adjusted close. Sample days overlap; distribution is indicative only.

Current PE ≈ 15.07, at the 56.3th percentile of its own history (40-60 band).

Valuation × momentum historical grid

Every day in its own history is bucketed by valuation tercile (own-history PE) and 60-day momentum sign into six cells; we show adjusted-close returns over the next 120 trading days per cell.

Valuation
Momentum
Cheap (own-history bottom 1/3)
Mid
Expensive (own-history top 1/3)
60-day momentum up
+11.4%
Win rate 86.8% Excess +2.6%
456d
Now
+5.7%
Win rate 63.3% Excess +2.1%
629d
+2.7%
Win rate 55.3% Excess -3.9%
595d
60-day momentum down
+12.4%
Win rate 86.6% Excess -3.3%
217d
-4%
Win rate 30.5% Excess -14.1%
554d
+4%
Win rate 57.8% Excess -6.6%
703d

Currently in “Mid × 60-day momentum up”: across 629 historical days, 120-day forward avg gained 5.7%, win rate 63.3%, beat the market by 2.1%.

Days = trading days in this bucket; returns use adjusted prices, ex-costs. 60-day momentum: direction of this stock's price over the past 60 trading days.

Signals not active (historical stats for reference)

These are not occurring now; historical samples shown for comparison.

Monthly revenue YoY ≥ 20% (from filing deadline)

Pending

Monthly revenue YoY ≥ 20%; event date is the first trading day after the filing deadline (no look-ahead).

70 times historically; 60-day forward avg +1.39%, win rate 52.6%, beating the market by +1.4 pts on average.

Foreign net buying for 5 straight days

Pending

Foreign net flow (ex-dealer) positive for 5 straight days; event on day 5; repeats within 20 days counted once.

69 times historically; 60-day forward avg +1.87%, win rate 50.7%, beating the market by -1.88 pts on average.

What does 和益 do? Company profile

化學工業／特殊化學品、界面活性劑與石油樹脂上游原料 台灣證券交易所上市

Overview

1709 對應證券為和益，為台灣證券交易所上市普通股，非 ETF/ETN/權證。公司全名為和益化學工業股份有限公司，英文名 FORMOSAN UNION CHEMICAL CORP.，英文簡稱 FUCC，統一編號 04312878。公司成立於 1973-06-21，股票自 1986-07-03 起上市。總部／公司地址為台北市萬華區柳州街80號7樓，總機 02-2507-1234。董事長為黃勝材，總經理為李宏德；發言人資訊各資料庫有黃俊哲、林立人等不同更新版本，較新的公司資料頁顯示發言人為林立人、職稱資深協理。實收資本額約新台幣 4,770,162,720 元，已發行普通股 477,016,272 股。104 人力銀行揭露員工人數約 234 人，屬徵才平台資料，非年報逐項查核數字。主要股東方面，公司官網揭露 114年8月29日前十大股東含和桐化學約 29,234,040 股、6.13%，齊東投資約 28,924,000 股、6.06%，永明順約 23,680,145 股、4.96%，另有信興工業、老松投資、台灣化學纖維、獅王家品、創祐投資、郭家福投資及郭陳初枝等；公開 PDF 中 113年4月15日版本亦列示和桐化學、齊東投資、永明順、信興工業、老松投資、台灣化學纖維、獅王家品等前十大股東。公司關係企業包括和協環保科技、聯超實業、越南 SOFT CHEMICAL、SOFT INDUSTRY、中外合資張家港越洋實業、大勝化學、益聯糖業、長春和益精細化工（常熟）等。

Business

和益為清潔劑、界面活性劑、潤滑油添加劑與黏著劑上游原料廠，核心產品為烷基苯、壬酚、十二烷酚、C9石油樹脂／氫化石油樹脂及其衍生物，另有農藥產品銷售及糖業貿易等業務。公司官網說明：烷基苯為清潔劑主要原料；壬酚為界面活性劑、橡膠與塑膠抗氧化劑等特用化學品基本原料；十二烷酚用於潤滑劑添加劑；氫化石油樹脂用於 EVA 與 TPR 系列熱熔膠原料。產製路徑上，烷基苯由正烷烴脫氫後與苯進行烷化反應；壬酚由壬烯與酚烷化；十二烷酚由四聚丙烯與酚烷化；氫化石油樹脂由 C9 石油樹脂與氫氣高溫高壓反應。2024 年營收結構依 MoneyDJ／富果彙整約為：烷化部門（烷基苯、烷基酚）約 82% 至 82.15%，樹脂部門（C9 石油樹脂、氫化 C9 石油樹脂）約 12% 至 12.37%，農藥及其他約 5% 至 5.48%。公司官網每月營收資料顯示 2024 年合併營收約新台幣 10,306,048 千元，2025 年合併營收約 9,011,697 千元，2026 年 1-5 月累計約 4,082,365 千元。商業模式以大量石化中間體製造、外銷與內銷客戶供應為主；113 年財報查核事項指出外銷客戶銷貨收入重大，且主要銷貨來自烷基苯、正烯烴、石油樹脂及烷酚。公開資料未揭露完整主要客戶名單；終端應用可確認為家用洗衣粉、洗衣精、家庭清潔劑、工業洗滌劑、抗氧化劑、潤滑油添加劑、高級印刷油墨樹脂、硬化劑、熱熔膠與黏著劑等。

Outlook 2025–2028

2025 年營運主軸為外銷與關稅、匯率衝擊後的需求修復。2025 年法說及媒體報導指出，公司產品外銷比重高、受匯率與國際關稅政策影響，2025 年營收與獲利較 2024 年下滑；公司正與下游客戶、加工廠協商分攤額外成本，近期銷量逐步回穩。2026 年展望方面，公司表示清潔劑屬民生必需品，需求波動不大，在成本轉嫁與客戶協商下，需求面預期不會少，營運動能可望持穩；公司官網 2026 年 1-5 月累計營收約 40.82 億元，較 2025 年同期略低，單月 2026 年 5 月則年增。2027-2028 年公司未公開量化財務預測；合理觀察重點為：（1）烷基苯與烷基酚需求是否隨清潔劑、工業洗滌劑與潤滑油添加劑穩定成長；（2）C9／氫化石油樹脂在熱熔膠、包裝、衛材、黏著劑應用的需求；（3）原料苯、正烷烴、壬烯、酚、C9 樹脂與能源價格對利差的影響；（4）外銷匯率、海運成本、關稅與貿易政策；（5）越南、中國常熟、台灣關係企業之區域供應能力與產能利用率；（6）公司官網經營理念提及確保原料穩定、提升產能利用率、加強製程改善與新產品研發，長期成長需仰賴特用化學品轉型與新產品開發。主要風險包括原油與石化原料價格波動、全球同業供給競爭、環保與工安法規、壬酚等化學品的環境限制、出口市場關稅與匯率波動、下游清潔用品與膠黏劑需求循環。

Supply Chain

Upstream
  • 台灣中油股份有限公司 未上市國營事業；推定為國內石化基礎原料供應鏈重要參與者，與苯、烯烴、氫氣等石化原料市場相關，未查得其為和益直接供應商的公開揭露。
  • 台塑石化股份有限公司 6505 台股上市公司；石化上游供應鏈代表，產品包含石化基礎原料與燃料，與和益所需苯、烴類、能源成本環境相關；未確認為直接供應商。
  • 台灣化學纖維股份有限公司 1326 台股上市公司；為和益主要股東之一，亦屬石化與芳香烴供應鏈代表；可作為苯、酚等原料市場相關上游，但未查得直接供貨合約。
  • 長春石油化學股份有限公司 未上市化工集團；和益曾與長春體系於中國常熟合作壬酚廠，新聞指出壬酚原料酚由長春化工供應；屬中國／台灣化工上游及合作夥伴。
  • 國際正烷烴、壬烯、酚、C9樹脂供應商 非特定上市櫃公司；公司產品製程需正烷烴、苯、壬烯、酚、四聚丙烯、C9石油樹脂、氫氣等原料，公開資料未完整揭露供應商名單。
Downstream
  • 獅王家品股份有限公司 未上市公司，為和益前十大股東之一；屬家庭清潔用品與日用品公司，與烷基苯／界面活性劑下游清潔劑應用高度相關，但公開資料未確認為直接客戶。
  • 花仙子企業股份有限公司 1730 台股上市公司；家用清潔與日用品業者，屬烷基苯磺酸、界面活性劑等清潔劑原料的終端應用下游代表，未確認為直接客戶。
  • 毛寶股份有限公司 1732 台股上市公司；洗衣與清潔用品業者，屬清潔劑原料終端應用下游代表，未確認為直接客戶。
  • 南寶樹脂化學工廠股份有限公司 4766 台股上市公司；膠黏劑、熱熔膠、樹脂應用代表，與和益 C9／氫化石油樹脂的熱熔膠、黏著劑下游應用相關，未確認為直接客戶。
  • 越南 SOFT CHEMICAL CORP.／SOFT INDUSTRY CORP. 和益關係企業，未上市；公司官網列示其主要業務為家用清潔劑烷基苯磺酸之專業生產工廠，屬烷基苯下游加工與區域市場通路。
  • 聯超實業股份有限公司 和益關係企業，未上市；公司官網列示其為 C9 石油樹脂專業生產廠商，與石油樹脂產品鏈相關。

Competitors

  • 和桐化學股份有限公司 1714 台股上市化工公司，亦為和益主要股東之一；同屬界面活性劑、烷基苯／清潔劑原料相關產業，具同業競合關係。
  • 東聯化學股份有限公司 1710 台股上市化工公司；產品線涵蓋乙二醇、特用化學與界面活性劑相關化學品，屬化工與界面活性劑供應鏈同業參考。
  • 台灣塑膠工業股份有限公司 1301 台股上市石化大廠；非烷基苯專門同業，但在石化中間體與塑化材料領域具上游與同業替代競爭參考意義。
  • 長春石油化學股份有限公司 未上市化工集團；在酚、特用化學品與壬酚合作鏈中具競合關係。
  • Sasol Limited 南非／國際上市化工公司，全球線性烷基苯、界面活性劑與石化中間體供應商之一，屬海外競爭者。
  • CEPSA Quimica 西班牙能源化工集團旗下化學品業者，為全球線性烷基苯與界面活性劑原料供應商之一，屬海外競爭者。
  • Reliance Industries Limited 印度上市大型石化公司，具線性烷基苯與石化中間體產能，屬海外競爭者。
  • Farabi Petrochemicals 沙烏地阿拉伯石化公司，線性烷基苯與正烷烴供應商，屬海外競爭者。
Sources（17）

This company profile is compiled from public sources (annual reports, filings, news and analyst reports), not finlab backtest data; the 2025–2028 outlook contains forward-looking estimates and is for reference only.

Method and limitations

  • All returns use adjusted close (etl:adj_close), already adjusted for dividends and splits.
  • Excess return is measured against the TAIEX total-return index (dividends included).
  • Valuation regime and percentile stats use an expanding own-history window (no future data).
  • Revenue-signal event dates align to the first trading day after the filing deadline, avoiding look-ahead.
  • Event samples may overlap in time; stats describe historical distribution only and are less reliable when samples are few.

This page is historical statistics for educational purposes and is not investment advice. Investing involves risk; past performance does not indicate future results. Assess and bear the risk yourself before trading.