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3025

星通 Communications & Internet As of 2026-06-17 Updated daily after market close

strong quality, fair valuation.

1 active signal
Revenue ≥20%
This page refreshes daily after the close. Add 星通 to your watchlist to track signal changes on your next visit.
Valuation 52Quality 80Growth 94Momentum 71Chips 30

Is 星通 a buy? Fundamentals and valuation first

  • Top-tier profitability.Operating margin beats ~85% of the market. Latest quarterly ROE ≈ 3.8%.

  • Valuation is neutral.PE is in the 37th market percentile; within its own history, PE is around the 16th percentile.

  • Foreign investors are net selling.Foreign 20-day net flow ≈ -1.2% of volume (net sell).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 134.6%, 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

Neutral +0.05
BearishNeutralBullish

Institutional rotation, concentration steady — neutral

  • Institutional rotation, concentration steady — neutral
  • 凱基-竹東 holds 517 lots
  • sellers have 2,240 lots left, ~102 sessions to clear

Window from 2026-01-17 · Price -2% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 凱基-竹東 has accumulated 517 lots since the start (sold 0%), still adding.
  • Main distributor 凱基-台北 peaked at 1,390 lots, has sold 42%, 805 left, ~37 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders +0.46pp, mid holders -1, retail +0.24pp — concentration shifting upward.
  • Foreign hedge-desk net short Net short -1,165 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
凱基-竹東富邦-仁愛陽信-石牌口袋證券元大-大統國票證券
Distributing
凱基-台北新加坡商瑞銀台灣摩根士丹利富邦-陽明摩根大通國票-北投
Desks
own scale
美商高盛新光永豐金-竹北永豐金-中正
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 凱基-竹東 +517
    sold 0%· still adding
  • 富邦-仁愛 +214
    sold 0%· still adding
  • 陽信-石牌 +214
    sold 0%· still adding
  • 口袋證券 +197
    sold 0%· still adding
  • 元大-大統 +196
    sold 0%· still adding
  • 國票證券 +180
    sold 19%

Distributing

  • 凱基-台北 805 left
    sold 42%· ~37 sessions to clear
  • 新加坡商瑞銀 491 left
    sold 42%· ~25 sessions to clear
  • 台灣摩根士丹利 414 left
    sold 29%· ~32 sessions to clear
  • 富邦-陽明 272 left
    sold 25%· paused recently
  • 摩根大通 111 left
    sold 69%· ~28 sessions to clear
  • 國票-北投 89 left
    sold 71%· paused recently

Desks

  • 美商高盛 -582
    hedge desk · will cover
  • 新光 -423
    unclassified
  • 永豐金-竹北 -325
    unclassified
  • 永豐金-中正 -303
    unclassified
Still selling 2,240 lots ~103 sessions to bottom at most
Recent buy/sell force +812 absorbed / -879 sold sellers slightly ahead
Hedge-desk net short -863 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 134.58%

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

80 historical occurrences (since 2007-04-23)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 48.5%, Sample 66, Median 0%, Excess +1.48%, Beat mkt rate 50%；60-day: Win 46.9%, Sample 64, Median -1.47%, Excess +3.03%, Beat mkt rate 45.3%；120-day: Win 59.7%, Sample 62, Median +9.44%, Excess -2.08%, Beat mkt rate 48.4%

120 days after: historical avg +8.14%

20-day +2.97%
60-day +8.54%
120-day +8.14%
20-day
60-day
120-day
Win
48.5%
46.9%
59.7%
Sample
66
64
62
Median
0%
-1.47%
+9.44%
Excess
+1.48%
+3.03%
-2.08%
Beat mkt rate
50%
45.3%
48.4%

Over 62 occurrences, 120-day forward avg gained 8.14%, lagged the market by 2.08 pts; win rate 59.7%.

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 You are here523+57.1% +38.3% 71.7% +22.6%
20-40 360+20.3% +12.4% 63.1% -5.4%
40-60 496+13% +3.8% 53% -5.4%
60-80 358+22.3% +14.5% 60.9% +19.4%
80-100 759+20.8% +8.2% 65.3% +9.9%

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 ≈ 17.63, at the 15.9th 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
Now
+24%
Win rate 73.8% Excess +12.2%
366d
+10.8%
Win rate 51.7% Excess -2.3%
402d
-0.9%
Win rate 38.3% Excess -3.3%
509d
60-day momentum down
+27.2%
Win rate 71.8% Excess +7.9%
419d
+8.3%
Win rate 51.5% Excess +1.1%
462d
+19.6%
Win rate 72.7% Excess +14.9%
458d

Currently in “Cheap (own-history bottom 1/3) × 60-day momentum up”: across 366 historical days, 120-day forward avg gained 24%, win rate 73.8%, beat the market by 12.2%.

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.

27 times historically; 60-day forward avg +3.25%, win rate 42.3%, beating the market by -1.58 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.

38 times historically; 60-day forward avg +11.93%, win rate 48.6%, beating the market by +6.54 pts on average.

What does 星通 do? Company profile

通信網路業 台灣證券交易所上市

Overview

星通資訊為台灣上市普通股，股票代號3025，產業別為通信網路業。公司成立於1991年12月3日，2002年8月26日上市，總部位於新竹科學園區新安路8號7樓；董事長兼總經理為葉茂林。TWSE上市公司基本資料顯示實收資本額為新台幣567,364,400元，已發行普通股56,736,440股，特別股0股；公司年報及永續報告書揭露2024年員工人數約159人。主要股東依2024年年報前十大股東資料包括葉茂林約9.92%、陳華齡約2.16%、葉俐彤約1.96%、張世龍約1.74%、花旗台灣受託保管瑞銀歐洲SE投資專戶約1.31%、蔡和晋約1.07%、匯豐台灣受託管摩根士丹利投資專戶約0.96%、元大商業銀行受託保管星通員工信託財產專戶等；部分外資保管專戶與員工信託專戶為名義持有人。

Business

星通以自有品牌LOOP研發、製造與銷售關鍵任務通訊網路設備與整體解決方案，核心產品包含接取服務多工機、光纖/SDH/SONET/PTN傳輸設備、IP/TDM混合傳輸設備、乙太網路與MPLS-TP設備、iNMS/iNET網管系統、資安系統與企業/政府專網解決方案。MoneyDJ整理之2024年產品營收比重為光纖網路存取設備約54%、U介面及MDSL介面多工機約22%、其他約17%、網管系統約4%、網路接取設備約2%、時槽交換機約1%。公司商業模式以自有品牌設備銷售、客製化卡板/系統整合、ODM/OEM、專案建置與維護服務為主；終端應用集中在MCC關鍵任務通訊市場，包括電力及自來水、政府骨幹網路、大眾交通運輸、機場、軍方、石油天然氣、採礦與電信/企業專網。公司永續報告書揭露2024年前一年全球46個國家與公司有業務往來，外銷約占全年營收七成，電力及政府機關約占總營收七成，交通運輸及民間企業約占二成；年報另揭露2024年前十大客戶占營收83%，主要客戶以代號揭露，因契約保密未公布完整名稱。

Outlook 2025–2028

2025至2028年展望以MCC關鍵任務通訊汰換、全球電力/交通/政府基礎建設升級、AI資料中心帶動電網投資、資安要求提高及老舊TDM網路向IP/PTN混合網路轉換為主要成長動能。公司2024年年報指出Loop-G7800為新一代PTN高頻寬多功能傳輸接取設備，可支援64K至100G多速率整合、電路仿真與客製化介面，並規劃G7800平台升級，包括600G主控卡、MACsec/IPsec加密、EoS協定轉換等模組；2025年亦規劃推出Loop-ISS2150關鍵任務網路防火牆與ISS2110政府組態管理系統。公司年報明確表示將持續深化「關鍵任務、安全、智慧化」產品策略，並以G7800為核心平台發展高可靠網路解決方案，未來數年運用於國內外電力、交通、機場、軍方等市場，對營收具有重大貢獻。近期媒體報導稱G7800已打入多國電力、鐵路/地下鐵、天然氣石油與電信客戶，並指出美國基礎建設、電力與交通需求為後續成長重點。已公布營收方面，2025年全年營收約新台幣677,719仟元、年增約4.27%；2026年1至5月累計營收約220,106仟元、年增約63.5%。主要風險包括：大型專案驗收與出貨時點波動、客戶集中度高、部分原料仍有單一供應商風險、全球關稅與貿易政策、匯率波動、政府/公用事業標案遞延、與ABB、Siemens、Nokia、Cisco、Huawei等國際大廠競爭，以及產品資安認證與客製化開發進度不確定。2027至2028未見公司正式量化財測，本段為依公司公開產品路線、年報文字與產業需求所作之定性推估。

Supply Chain

Upstream
  • 文曄科技股份有限公司 3036 2024年年報列為主要供應商之一，2023年占進貨淨額29.23%、2024年占18.40%；文曄為台股上市電子零組件通路商。
  • 安富利 2024年年報列為主要供應商之一，2023年占進貨淨額15.00%、2024年占16.87%；Avnet為美國上市電子零組件通路商，非台股掛牌。
  • 主動元件、被動元件、包材、線材、連接器、電源供應器與光模組供應商 公司永續報告書揭露供應鏈上游主要包含半導體主動元件、電子零件被動元件、包材及外購成品；多數具體供應商未完整公開，stock_id無法確認。
Downstream
  • 中華電信股份有限公司 2412 年報提及iNMS網管系統在台灣主要客戶包括中華電信，屬台股上市電信業者。
  • 台灣電力公司 年報與永續報告書多次指出電力產業為關鍵下游應用，並提及台灣電力為台灣主要客戶；台電為國營事業，非台股掛牌。
  • 台灣鐵路公司 年報提及台灣鐵路為台灣主要客戶之一，屬交通運輸骨幹網路應用；非台股掛牌。
  • NEC 年報提及與國際SI大廠合作，例如NEC，並曾整合列車號誌與交通專案；NEC為日本上市公司，非台股掛牌。
  • 奇異公司 年報提及星通作為美國奇異公司的OEM/ODM網路設備及網管系統供應商，電力應用約占公司總體營收重要比重；GE為美國上市公司，非台股掛牌。
  • 政府機關、公用事業、機場、軍方、石油天然氣、採礦與交通運輸客戶 公司主要終端用戶類型；多數專案客戶因契約保密或未上市，無法逐一確認stock_id。

Competitors

  • ABB 2024年年報列為全球主要競爭對手之一；瑞士/海外上市公司，非台股掛牌。
  • Siemens 2024年年報列為全球主要競爭對手之一；德國上市公司，非台股掛牌。
  • Nokia（含Alcatel-Lucent） 2024年年報列為全球主要競爭對手之一；芬蘭上市公司，非台股掛牌。
  • Cisco 2024年年報列為全球主要競爭對手之一；美國上市公司，非台股掛牌。
  • Huawei 2024年年報列為全球主要競爭對手之一；未於台股掛牌。
  • 智邦科技股份有限公司 2345 台股上市網通設備公司；與星通同屬網通設備供應鏈，但智邦偏交換器/雲端資料中心網通設備，並非完全相同的MCC專網產品定位。
  • 中磊電子股份有限公司 5388 台股上櫃網通設備公司；與星通同屬通訊網路設備產業，但主要產品與客戶結構不同。
  • 合勤投資控股股份有限公司 3704 台股上市網通品牌/設備集團；同屬網通設備領域，惟產品線與星通MCC關鍵任務傳輸設備不完全重疊。
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.