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2101

南港 Rubber As of 2026-06-17 Updated daily after market close

strong quality, discounted valuation.

1 active signal
Revenue ≥20%
This page refreshes daily after the close. Add 南港 to your watchlist to track signal changes on your next visit.
Valuation 65Quality 95Growth 95Momentum 23Chips 92

Is 南港 a buy? Fundamentals and valuation first

  • Top-tier profitability.Operating margin beats ~93% of the market. Latest quarterly ROE ≈ 10.3%.

  • Valuation is low.PE is in the 9th market percentile; within its own history, PE is around the 2th percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 11.9% of volume (net buy).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 158.7%, above the 20% growth threshold.

  • Signals are active now.On the latest data, signals such as Revenue YoY ≥ 20% are active — see the historical forward returns after each occurrence below.

Chip flow

Bullish +0.31
BearishNeutralBullish

Institutional rotation, concentration steady — bullish

  • Institutional rotation, concentration steady — bullish
  • 台灣摩根士丹利 holds 4,663 lots
  • sellers have 1,350 lots left, ~54 sessions to clear

Window from 2026-01-17 · Price -10% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 台灣摩根士丹利 has accumulated 4,663 lots since the start (sold 2%), still adding.
  • Main distributor 港商野村 peaked at 1,055 lots, has sold 46%, 569 left, ~29 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders -0.14pp, mid holders -8, retail -0.44pp — little change.
  • Foreign hedge-desk net short Net short -2,687 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
台灣摩根士丹利宏遠證券新加坡商瑞銀國票-敦北法人康和台新-板橋
Distributing
港商野村群益金鼎-海山新光-台中美商高盛玉山-數位國票-博愛
Desks
own scale
統一-南京國泰證券新光摩根大通
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 +4,663
    sold 2%· still adding
  • 宏遠證券 +4,075
    sold 0%
  • 新加坡商瑞銀 +2,268
    sold 4%· still adding
  • 國票-敦北法人 +1,724
    sold 0%· still adding
  • 康和 +1,441
    sold 3%
  • 台新-板橋 +1,434
    sold 0%

Distributing

  • 港商野村 569 left
    sold 46%· ~29 sessions to clear
  • 群益金鼎-海山 247 left
    sold 34%· ~20 sessions to clear
  • 新光-台中 172 left
    sold 47%· paused recently
  • 美商高盛 191 left
    sold 37%· paused recently
  • 玉山-數位 126 left
    sold 51%· ~15 sessions to clear
  • 國票-博愛 40 left
    sold 82%· paused recently

Desks

  • 統一-南京 -4,239
    unclassified
  • 國泰證券 -2,472
    unclassified
  • 新光 -1,621
    unclassified
  • 摩根大通 -1,466
    hedge desk · will cover
Still selling 1,350 lots ~54 sessions to bottom at most
Recent buy/sell force +4,759 absorbed / -814 sold buyers slightly ahead
Hedge-desk net short -1,466 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)

Mixed direction: big-holder and retail changes are not aligned.

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.

Monthly revenue YoY ≥ 20% (from filing deadline)

Active · now 158.74%

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

44 historical occurrences (since 2007-04-23)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 48.5%, Sample 33, Median 0%, Excess -2.57%, Beat mkt rate 30.3%；60-day: Win 45.2%, Sample 31, Median -0.68%, Excess -1.66%, Beat mkt rate 35.5%；120-day: Win 54.8%, Sample 31, Median +1.52%, Excess -2.75%, Beat mkt rate 35.5%

120 days after: historical avg +4.01%

20-day +0.55%
60-day +2.68%
120-day +4.01%
20-day
60-day
120-day
Win
48.5%
45.2%
54.8%
Sample
33
31
31
Median
0%
-0.68%
+1.52%
Excess
-2.57%
-1.66%
-2.75%
Beat mkt rate
30.3%
35.5%
35.5%

Over 31 occurrences, 120-day forward avg gained 4.01%, lagged the market by 2.75 pts; win rate 54.8%.

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 You are here295-7.7% -5.8% 12.2% -34.1%
20-40 519+6.5% +3.2% 60.5% -15.1%
40-60 559+3.2% -3.8% 42% -18.1%
60-80 478+7.7% -5.4% 45% -1.6%
80-100 611+9.5% +2.1% 57.4% -5.8%

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 ≈ 10.74, at the 1.5th percentile of its own history (0-20 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
-2.7%
Win rate 36% Excess -17%
225d
-3.9%
Win rate 26% Excess -11.1%
362d
+12.7%
Win rate 64.1% Excess +3.1%
577d
60-day momentum down
Now
-1.9%
Win rate 41.1% Excess -19.9%
487d
-0.2%
Win rate 37.3% Excess -7%
549d
+2.1%
Win rate 38.5% Excess -2%
379d

Currently in “Cheap (own-history bottom 1/3) × 60-day momentum down”: across 487 historical days, 120-day forward avg declined 1.9%, win rate 41.1%, lagged the market by 19.9%.

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.

Does this signal hold up across the market

Over the past 242 months, on average ~404 stocks per month met “monthly revenue YoY ≥ 20%”; their adjusted-close return over the next 60 trading days averaged 6.94% (equal-weighted), beating the market by 2.37 points on average, and outperformed the TAIEX total-return index in 64.5% of months.

Each month, equal-weighted 60-day forward adjusted return of all signal-matching stocks, then averaged across months; excess vs the TAIEX total-return index.

Signals not active (historical stats for reference)

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

252-day price high (breakout)

Pending

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

16 times historically; 60-day forward avg +6.1%, win rate 50%, beating the market by +3.2 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.

66 times historically; 60-day forward avg -0.18%, win rate 35.4%, beating the market by -3.7 pts on average.

What does 南港 do? Company profile

橡膠工業；輪胎製造與銷售 臺灣證券交易所上市

Overview

2101 對應之證券為南港輪胎股份有限公司普通股，英文名 NANKANG RUBBER TIRE CORP., LTD.，市場別為臺灣證券交易所上市，產業類別為橡膠。公司成立於 1959 年 2 月 25 日，官方沿革記載 1963 年 11 月 1 日股票公開上市；總部位於台北市大安區仁愛路三段 136 號 6 樓 608 室。依公開基本資料與年報，董事長為郭林諒，總經理為林君穎；減資後實收股本為新台幣 7,339,349,040 元，流通在外普通股 733,934,904 股。年報列示截至 2026 年 3 月 28 日從業員工 1,017 人。主要股東前十名包括南冠輪胎 16.85%、元瑞開發實業 9.34%、元鴻開發實業 5.53%、詮曄投資 4.04%、智凱開發 3.78%、林君穎 2.27%、國強大科技 1.21%、泰豐輪胎 0.97%、遠雄人壽 0.94%、渣打銀行受託保管先進星光基金系列基金投資專戶 0.51%。公司前身為南港橡膠廠，官方沿革並記載成立初期與日本橫濱株式會社 Yokohama 技術合作。

Business

南港輪胎核心業務為輪胎製造、批發、零售與國際貿易，並透過子公司南榮開發建築認列不動產開發收入。2025 年度合併營收新台幣 8,431,989 仟元，其中汽車輪胎 8,187,793 仟元、占 97.10%；機車輪胎 83,323 仟元、占 0.99%；其他輪胎 1,375 仟元、占 0.02%；營建收入 159,498 仟元、占 1.89%；輪胎合計占合併營收 98.11%。產品包括電動車 EV 胎、輕卡車 LT/LTR 胎、轎車 PC/PCR 胎、雪地胎、休旅車與 4x4 胎、半熱熔胎、重型與一般機車胎、卡車輪胎等；其中輕卡車與轎車輪胎產量比率達 99% 以上。商業模式以自有品牌 NANKANG/南港輪胎、SONAR、Luccini 等銷售全球替換胎市場為主，搭配部分新車廠/OE 與經銷商通路；年報指出 2025 年合併基礎外銷占 94%，歐美日占外銷 78.9%，且多屬高單價產品。產能方面，台灣新豐廠 PCR、4x4、LTR 每日設備產能已提升至 20,000 餘條；中國張家港廠自 2023 年開始生產，2025 年營業收入約新台幣 34 億元，占輪胎合併營收約 41%，每日設備產能最高可達 18,000 餘條。主要客戶方面，2025 年個體營收及近兩年度合併輪胎營收均無超過 10% 以上客戶，故公司未揭露具名主要客戶；2024 年曾因營建案認列客戶甲收入 49.78 億元，占當年合併營收 32.70%。

Outlook 2025–2028

2025 至 2028 年展望可分為輪胎本業升級與資產開發入帳兩條主軸。輪胎本業方面，年報指出全球汽車使用年限延長與高單價替換胎需求有利銷售，南港策略重點為提升高附加價值產品占比，歐洲市場發展四季胎、雪胎、全熱融胎與 UHP 高性能胎，全球市場發展 4x4 RT/MT 系列，美澳與中東主推 18 至 26 吋 PCR UHP 與 4x4/SUV 輕載重系列，亞洲與大洋洲擴大特殊改裝規格、復古白邊與雙色胎等利基產品；公司亦投入電動車胎、低噪音、低滾阻、耐磨配方與賽道用胎。年報列示計劃開發新品包括歐洲新世代 PCR 四季胎 AW-9、歐洲新型 AT AT-PRO、日本新型雪胎 AW-1EVO、北美競技胎 CR-S R、SUV NEX-1 擴大開發、性能胎 AS-3 擴大開發與 RT+ 系列；研發項目預計量產時間多落在 2026 年底，2026 年預計研發費用 7,500 仟元，另 2025 年研發投入 88,394 仟元。產能與效率方面，公司已更換成型機與部分胎牙機，年報稱可降低約 30% 人工並提升產能；張家港廠 2023 年投產後，已成為重要低成本製造與中國/外銷供應節點。資產開發方面，南港轉投資南榮開發建築的「世界明珠」案為 2024 至 2026 年營收與獲利波動重要來源，公開報導與公司法說資料顯示基地約 9,453.75 坪、住宅 B 至 G 棟與辦公 A/H 棟，2025 年 8 月取得使用執照並轉供待售，已銷售金額達 300 億元以上；後續入帳時點將影響 2026 至 2028 年損益與現金流。主要風險包括天然膠、人造膠、碳黑、簾布、鋼絲等原料價格上升；美元、歐元匯率波動；歐洲景氣復甦力道有限；中國輪胎產能過剩導致中低價市場價格競爭；美國對台灣、泰國、越南、韓國等地輪胎雙反稅率及關稅政策；以及世界明珠銷售、交屋與房地產景氣的不確定性。本段 2027 至 2028 展望屬依年報策略、產業趨勢與已揭露開發案推估，非公司財測。

Supply Chain

Upstream
  • 台橡股份有限公司 2103 年報列為人造膠供應商；台股上市橡膠原料公司。
  • 林園先進材料科技股份有限公司 年報列為黑煙/碳黑供應商；未確認為台股上市櫃公司。
  • HEVEA GLOBAL PTE. LTD. 年報列為天然膠供應商；新加坡公司，非台股掛牌。
  • REGIONAL RUBBER TRADING 年報列為天然膠供應商；非台股掛牌或未確認掛牌。
  • Protrade Asia Limited 年報列為天然膠供應商；非台股掛牌或未確認掛牌。
  • HYOSUNG CHEMICAL FIBER (JIAXING) CO., LTD. 年報列為簾布供應商；中國/外商體系，非台股掛牌。
  • ORIENTAL INDUSTRIES (SUZHOU) LTD. 年報列為簾布供應商；中國公司，非台股掛牌。
  • JIANGSU XINGDA STEEL 年報列為鋼絲供應商；中國公司，非台股掛牌。
  • CHINA BEKAERT STEEL CORD CO., LTD. 年報列為鋼絲供應商；外商/中國公司，非台股掛牌。
  • 慈陽科技工業股份有限公司 年報列為化學品供應商；未確認為台股上市櫃公司。
Downstream
  • 全球輪胎經銷商與代理商 公司輪胎以下游經銷商與替換胎通路銷售為主；年報未揭露具名且超過 10% 的合併輪胎客戶。
  • 新車廠/OE 客戶 年報產業鏈說明下游包含新車廠；未揭露具名客戶。
  • 歐美日替換胎市場終端車主與改裝/賽道用戶 公司外銷占比高，歐美日為主要高單價產品市場；終端為非掛牌群體。
  • 世界明珠住宅與商辦買方 南榮開發建築之營建收入下游客戶；2024 年曾有營建客戶甲認列 49.78 億元，但公司未具名揭露。

Competitors

  • 正新橡膠工業股份有限公司 2105 年報列為國內主要競爭品牌之一，台股上市輪胎廠。
  • 泰豐輪胎股份有限公司 2102 年報列為國內主要競爭品牌之一，台股上市輪胎廠；亦為南港主要股東之一。
  • 建大工業股份有限公司 2106 年報列為國內主要競爭品牌之一，台股上市輪胎廠。
  • KUMHO TIRE 年報列為韓國主要競爭品牌；韓國上市公司，非台股掛牌。
  • HANKOOK TIRE & TECHNOLOGY 年報列為韓國主要競爭品牌；韓國上市公司，非台股掛牌。
  • MICHELIN 年報提及國際知名品牌；法國上市公司，市場定位較高，非台股掛牌。
  • BRIDGESTONE 年報提及國際知名品牌；日本上市公司，市場定位較高，非台股掛牌。
  • CONTINENTAL 年報提及國際知名品牌；德國上市公司，市場定位較高，非台股掛牌。
Sources（10）

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.