Free trial

Ask AI to review this stock

Copy the prompt to get recent events, historical reactions, and a short research brief.

Tell your AI:

Help me set up FinLab and analyze 2368 金像電. Please read: https://finlab.finance/en/setup?stock=2368

No install, open FinLab Studio

2368

金像電 Electronic Components As of 2026-06-17 Updated daily after market close

strong quality, premium valuation.

1 active signal

Revenue ≥20%

This page refreshes daily after the close. Add 金像電 to your watchlist to track signal changes on your next visit.

Is 金像電 a buy? Fundamentals and valuation first

Top-tier profitability.Operating margin beats ~90% of the market. Latest quarterly ROE ≈ 10.2%.
Valuation is high.PE is in the 81th market percentile; within its own history, PE is around the 89th percentile.
Foreign investors are net buying.Foreign 20-day net flow ≈ 1.9% of volume (net buy).
Strong revenue growth.Latest monthly revenue YoY ≈ 87.3%, 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 +0.76

BearishNeutralBullish

Single-sided accumulation, concentration rising — bullish

Single-sided accumulation, concentration rising — bullish
大和國泰 holds 5,945 lots
sellers have 4,013 lots left, ~41 sessions to clear

Window from 2026-01-17 · Price +120% · branches to 2026-06-17· TDCC to 2026-06-12

Largest holder 大和國泰 has accumulated 5,945 lots since the start (sold 8%), still adding.
Main distributor 美商高盛 peaked at 6,252 lots, has sold 43%, 3,588 left, ~41 sessions to clear at the recent pace.
TDCC big holders (absolute) >1000-lot holders +2.70pp, mid holders -4, retail -2.14pp — concentration shifting upward.
Foreign hedge-desk net short Net short -2,228 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

大和國泰摩根大通台灣摩根士丹利美林花旗環球元大證券

Distributing

美商高盛香港上海匯豐富邦證券元大-崇德台灣企銀凱基-三重

Desks

own scale

永豐金證券統一-城中國泰證券凱基-站前

Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline

Branch details Unit: lots

Accumulating

大和國泰 +5,945

sold 8%· still adding
摩根大通 +5,496

sold 21%
台灣摩根士丹利 +4,893

sold 9%· still adding
美林 +4,211

sold 23%· still adding
花旗環球 +3,924

sold 21%
元大證券 +2,369

sold 5%· still adding

Distributing

美商高盛 3,588 left

sold 43%· ~41 sessions to clear
香港上海匯豐 130 left

sold 89%· ~2 sessions to clear
富邦證券 151 left

sold 78%· paused recently
元大-崇德 113 left

sold 33%· paused recently
台灣企銀 98 left

sold 32%· ~21 sessions to clear
凱基-三重 67 left

sold 48%· paused recently

Desks

永豐金證券 -3,884

unclassified
統一-城中 -1,852

unclassified
國泰證券 -1,458

unclassified
凱基-站前 -1,247

unclassified

Still selling 4,013 lots ~41 sessions to bottom at most

Recent buy/sell force +4,149 absorbed / -1,822 sold buyers slightly ahead

Hedge-desk net short -2,092 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.

Monthly revenue YoY ≥ 20% (from filing deadline)

Active · now 87.29%

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

93 historical occurrences (since 2007-04-23)

120 days after: historical avg +25.36%

20-day +4.08%

60-day +12.78%

120-day +25.36%

20-day

60-day

120-day

Win

60%

69.2%

64%

Sample

Median

+2.02%

+7.42%

+13.68%

Excess

+2.34%

+7.42%

+16.42%

Beat mkt rate

51.2%

60.3%

58.7%

Over 75 occurrences, 120-day forward avg gained 25.36%, beat the market by 16.42 pts; win rate 64%.

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.

0-20 +136.9%

20-40 +89.8%

40-60 +151.5%

60-80 +10.5%

80-100 +96.5% Now

PE percentile band	Sample days	240-day avg return	Median	Win rate	Avg excess (vs index)
0-20	215	+136.9%	+139.1%	100%	+113.6%
20-40	609	+89.8%	+47%	98.7%	+70.9%
40-60	462	+151.5%	+119%	94.6%	+118.4%
60-80	107	+10.5%	-8.5%	24.3%	-18.7%
80-100 You are here	31	+96.5%	+94.1%	100%	+27.5%

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 ≈ 61.85, at the 89.3th percentile of its own history (80-100 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

+36.7%

Win rate 90.7% Excess +24.2%

428d

+41.8%

Win rate 75.3% Excess +31.2%

586d

Now

+89.8%

Win rate 87.5% Excess +53.4%

120d

60-day momentum down

+55.2%

Win rate 95.2% Excess +46%

208d

+82%

Win rate 77.2% Excess +69.4%

202d

Insufficient data
(0d)

Currently in “Expensive (own-history top 1/3) × 60-day momentum up”: across 120 historical days, 120-day forward avg gained 89.8%, win rate 87.5%, beat the market by 53.4%.

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.

38 times historically; 60-day forward avg +17.5%, win rate 55.6%, beating the market by +12.7 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.

55 times historically; 60-day forward avg +10.24%, win rate 64.2%, beating the market by +6.87 pts on average.

What does 金像電 do? Company profile

電子零組件業；印刷電路板（PCB）台灣證券交易所上市

Overview

2368 對應金像電子股份有限公司，英文名 Gold Circuit Electronics Ltd.，為台灣證券交易所上市普通股，不是 ETF、ETN、特別股或權證。公司成立於 1981 年 9 月 5 日，股票於 1998 年 3 月 9 日上市。總部及登記地址為桃園市中壢區西園路 113 號。董事長兼總經理為楊承澤。公司主要營業項目為雙層、多層印刷電路板製造、加工及買賣，並涉及電腦、電子、通訊、資訊產品及其週邊設備與電子零件加工。2026 年 6 月公司法說資料揭露股本約新台幣 51.7 億元，生產基地包含台灣中壢、大陸蘇州、大陸常熟、泰國巴真；公司技術定位為高階線路板、厚銅板、背板與 HDI。2024 年報揭露截至 2025 年 2 月 28 日合併員工 8,556 人，其中間接員工 2,305 人、直接人工 6,251 人。2024 年報揭露 2025 年 3 月 30 日前十大股東包含楊長基 19.65%、新制勞工退休基金 7.33%、李瑞清 5.62%、國泰人壽全委摩根富林明投信公司投資帳戶 4.14%、楊承澤 3.59%、富邦人壽 2.57%、佳惠投資 2.24%、中華郵政 2.16%、大通託管挪威中央銀行投資專戶 1.88%、舊制勞工退休基金 1.77%。

Business

金像電是專業 PCB 製造商，營收幾乎全部來自印刷電路板。2024 年報揭露 2023 年與 2024 年合併營業比重均為印刷電路板 100%，2024 年合併營收約新台幣 389.52 億元。產品集中於通訊及電腦相關 PCB，包含伺服器用板、網通用板、筆記型電腦板、基地台、手機與平板電腦板；近年策略轉向高階產品，例如 AI 與雲端伺服器、網通板、低軌衛星天線板、儲存設備板、網際網路連接設備用板、汽車用板與半導體測試設備相關板。公司揭露計畫開發項目包含高密度晶圓測試板、下一世代伺服器材料應用、Multiple Net Via、多迴路孔、VIPPO 細線路、1.6T 網通板、高階 AI 伺服器 HDI 板、厚板高縱橫比網通板等。商業模式為接單製造與技術共同開發型 PCB 供應，主要價值來自高層數、高密度、高可靠度與高速訊號材料/製程能力。2024 年報表示公司是台灣最大伺服器用板 PCB 廠，全球國際級伺服器業者皆為主要客戶，近幾年度外銷比率均在 70% 以上，客戶多為知名大廠及組裝廠；但年報因契約約定未揭露主要客戶真名，2024 年 A、B、C 三大客戶分別占合併銷貨 18.13%、17.31%、11.63%。2025 年前三季公司法說資料揭露營收 435.96 億元、年增 50%，EPS 13.61 元；2025 年度財報公告營業收入 600.04 億元、稅後淨利 96.07 億元、EPS 19.47 元。2026 年 6 月法說資料揭露 2026 年 1至5月合併營收約 353 億元，2026Q1 營收 193.13 億元、年增 60%，毛利率 34.81%，EPS 6.87 元。

Outlook 2025–2028

2025 至 2028 年主要成長動能來自 AI 伺服器、HPC、雲端資料中心、高速網通、低軌衛星與車用電子對高階 PCB 的規格升級。公司 2024 年報引用 TPCA/工研院資料指出，2024 年台商 PCB 產值受惠消費回溫、AI 伺服器與衛星通訊成長，2025 年台灣 PCB 產業產值預估成長至 8,541 億元、年增 4.6%；同時 AI 伺服器與衛星通訊帶動高階 HDI 板需求。公司自身研發方向包含 1.6T 網通板、高階 AI 伺服器 HDI、下一世代伺服器材料與厚板高縱橫比網通板，顯示 2026 至 2028 年競爭重點將在高層數、低損耗材料、背鑽、HDI、厚銅與高速訊號完整性。產能方面，2024 年報揭露大陸總月產能約 170 萬平方呎、集團總月產能約 200 萬平方呎，泰國巴真廠 2023 年設廠、預計 2025 下半年量產，以紓解產能並滿足客戶多元供應鏈需求；2026 年法說仍列泰國為生產基地，代表中國加一與地緣風險分散將是中期核心議題。2025 年業績已大幅成長，2026Q1 仍呈現高雙位數年增，若 AI GPU/ASIC 伺服器平台、800G/1.6T 交換器與資料中心資本支出延續，2026 至 2028 年高階伺服器與網通 PCB 仍有擴張空間。風險包含美國政策與關稅變動、中國經濟放緩、地緣政治、PCB 同業在中國與東南亞擴產導致價格競爭、資本支出與折舊壓力、環保與廢水處理成本、銅箔/基板/低損耗 CCL 價格波動、匯率、泰國廠良率與量產爬坡、主要客戶集中且未揭露真名，以及 AI 伺服器平台換代造成認證時程與產品組合波動。2027 至 2028 年具體營收與獲利數字屬市場推估，公開文件未提供公司正式財測。

Supply Chain

Upstream

甲公司 2024 年報揭露為主要供應商代號，2024 年占合併進貨淨額 23.44%，公司因契約約定未揭露真名；關係為基板、膠片、銅箔、乾膜或電鍍化學品等 PCB 原料供應鏈之一。
乙公司 2024 年報揭露為主要供應商代號，2024 年占合併進貨淨額 16.22%，公司因契約約定未揭露真名；關係為 PCB 主要原料供應鏈之一。
台光電 2383 台股上市銅箔基板與高頻高速材料供應商，屬 AI 伺服器 PCB 上游 CCL 族群；未由金像電年報點名為直接供應商，列為產業鏈關係企業。
台燿 6274 台股上櫃銅箔基板供應商，產品用於高頻高速與伺服器/網通 PCB；未由金像電年報點名為直接供應商，列為產業鏈關係企業。
聯茂 6213 台股上市銅箔基板供應商，屬 PCB 上游材料；未由金像電年報點名為直接供應商，列為產業鏈關係企業。
南亞 1303 台股上市公司，具銅箔基板、玻纖布、樹脂等電子材料布局，屬 PCB 上游材料族群；未由金像電年報點名為直接供應商。
金居 8358 台股上櫃電解銅箔供應商，銅箔為 PCB 主要原料之一；未由金像電年報點名為直接供應商。
長興 1717 台股上市電子材料與化學材料供應商，乾膜/化學材料為 PCB 製程原料之一；未由金像電年報點名為直接供應商。

Downstream

A公司 2024 年報揭露為第一大客戶代號，2024 年占合併銷貨 18.13%，公司因契約約定未揭露真名；關係為伺服器、資訊、通訊或組裝大廠客戶。
B公司 2024 年報揭露為第二大客戶代號，2024 年占合併銷貨 17.31%，公司因契約約定未揭露真名；關係為伺服器、資訊、通訊或組裝大廠客戶。
C公司 2024 年報揭露為第三大客戶代號，2024 年占合併銷貨 11.63%，公司因契約約定未揭露真名；關係為伺服器、資訊、通訊或組裝大廠客戶。
全球國際級伺服器業者公司年報表示全球國際級伺服器業者皆為主要客戶，銷售對象多為知名大廠及組裝廠；未揭露具體名單。
廣達 2382 台股上市 AI 伺服器/雲端伺服器 ODM，屬金像電伺服器 PCB 的下游應用產業鏈；公開年報未確認其為金像電直接客戶。
緯創 3231 台股上市 AI 伺服器與資訊產品 ODM，屬金像電伺服器 PCB 下游應用產業鏈；公開年報未確認其為金像電直接客戶。
鴻海 2317 台股上市伺服器與雲端資料中心硬體組裝大廠，屬高階 PCB 下游應用產業鏈；公開年報未確認其為金像電直接客戶。
英業達 2356 台股上市伺服器/筆電 ODM，屬金像電 PCB 可能服務的終端應用產業鏈；公開年報未確認其為金像電直接客戶。

Competitors

華通 2313 台股上市 PCB 廠；2024 年報列為上市櫃 PCB 銷售值市占比較同業。
欣興 3037 台股上市 PCB/IC 載板大廠；2024 年報列為同業，2024 年上市櫃 PCB 銷售值市占 15.16%。
健鼎 3044 台股上市 PCB 廠；2024 年報列為同業，伺服器/汽車/消費電子等 PCB 競爭者。
瀚宇博 5469 台股上市 PCB 廠；2024 年報列為同業。
燿華 2367 台股上市 PCB 廠；2024 年報列為同業。
敬鵬 2355 台股上市 PCB 廠；2024 年報列為同業，偏車用與工業應用。
志超 8213 台股上市 PCB 廠；2024 年報列為同業。
景碩 3189 台股上市 IC 載板/PCB 廠；2024 年報列為同業。
楠梓電 2316 台股上市 PCB 廠；2024 年報列為同業。
臻鼎-KY 4958 台股上市大型 PCB 集團，雖未出現在金像電年報該市占表主要列示項目中，但為台資 PCB 重要競爭者。

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.