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3071

協禧 Computer & Peripherals As of 2026-06-17 Updated daily after market close

steady quality, fair valuation.

1 active signal
Revenue ≥20%
This page refreshes daily after the close. Add 協禧 to your watchlist to track signal changes on your next visit.
Valuation 40Quality 52Growth 79Momentum 77Chips 84

Is 協禧 a buy? Fundamentals and valuation first

  • Above-average profitability.Operating margin is in the 61th market percentile. Latest quarterly ROE ≈ 1.3%.

  • Valuation is neutral.PE is in the 74th market percentile; within its own history, PE is around the 93th percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 7.1% of volume (net buy).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 38.5%, 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 +0.82
BearishNeutralBullish

Single-sided accumulation, concentration rising — bullish

  • Single-sided accumulation, concentration rising — bullish
  • 元大-敦南 holds 1,720 lots
  • sellers have 592 lots left, ~185 sessions to clear

Window from 2026-01-17 · Price +38% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 元大-敦南 has accumulated 1,720 lots since the start (sold 0%), holding.
  • Main distributor 玉山-大里 peaked at 489 lots, has sold 54%, 226 left, ~12 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders +3.18pp, mid holders +2, retail -3.72pp — concentration shifting upward.
  • Foreign hedge-desk net short Net short -447 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
元大-敦南凱基-台北玉山-高雄摩根大通新加坡商瑞銀台灣摩根士丹利
Distributing
玉山-大里台灣企銀玉山證券台新-高雄華南永昌富邦-竹北
Desks
own scale
第一金-大稻埕台新美商高盛凱基-站前
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 元大-敦南 +1,720
    sold 0%
  • 凱基-台北 +1,049
    sold 16%· still adding
  • 玉山-高雄 +579
    sold 2%
  • 摩根大通 +426
    sold 0%· still adding
  • 新加坡商瑞銀 +287
    sold 21%
  • 台灣摩根士丹利 +270
    sold 5%· still adding

Distributing

  • 玉山-大里 226 left
    sold 54%· ~12 sessions to clear
  • 台灣企銀 48 left
    sold 68%· ~8 sessions to clear
  • 玉山證券 74 left
    sold 45%· paused recently
  • 台新-高雄 47 left
    sold 61%· paused recently
  • 華南永昌 51 left
    sold 56%· ~21 sessions to clear
  • 富邦-竹北 21 left
    sold 81%· paused recently

Desks

  • 第一金-大稻埕 -255
    unclassified
  • 台新 -187
    unclassified
  • 美商高盛 -180
    hedge desk · will cover
  • 凱基-站前 -167
    unclassified
Still selling 592 lots ~185 sessions to bottom at most
Recent buy/sell force +1,448 absorbed / -405 sold buyers slightly ahead
Hedge-desk net short -437 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 38.53%

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

33 historical occurrences (since 2007-04-23)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 56%, Sample 25, Median +3.07%, Excess +0.91%, Beat mkt rate 56%；60-day: Win 47.8%, Sample 23, Median 0%, Excess +0.44%, Beat mkt rate 56.5%；120-day: Win 33.3%, Sample 21, Median -7.7%, Excess -7.83%, Beat mkt rate 33.3%

120 days after: historical avg -8.03%

20-day +1.64%
60-day +3.74%
120-day -8.03%
20-day
60-day
120-day
Win
56%
47.8%
33.3%
Sample
25
23
21
Median
+3.07%
0%
-7.7%
Excess
+0.91%
+0.44%
-7.83%
Beat mkt rate
56%
56.5%
33.3%

Over 21 occurrences, 120-day forward avg declined 8.03%, lagged the market by 7.83 pts; win rate 33.3%.

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)
0-20 194+42.5% +33% 97.9% +9%
20-40 725+24.2% +24% 79% +5%
40-60 617+24.5% +14.3% 73.9% +19.7%
60-80 301+44.2% +23.1% 71.1% +5.6%
80-100 You are here566+3.2% -11% 43.5% -20.2%

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 ≈ 47.79, at the 92.7th 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
+12.9%
Win rate 69% Excess +1.1%
368d
+14.7%
Win rate 63.6% Excess +9.6%
588d
Now
0%
Win rate 49.9% Excess -16%
409d
60-day momentum down
+20%
Win rate 76.4% Excess +10.1%
365d
+15.3%
Win rate 78.8% Excess +13.3%
293d
+6%
Win rate 62.6% Excess -10.6%
500d

Currently in “Expensive (own-history top 1/3) × 60-day momentum up”: across 409 historical days, 120-day forward avg declined 0%, win rate 49.9%, lagged the market by 16%.

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.

25 times historically; 60-day forward avg +7.72%, win rate 50%, beating the market by +2.22 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.

47 times historically; 60-day forward avg +10.23%, win rate 63%, beating the market by +4.03 pts on average.

What does 協禧 do? Company profile

電腦及週邊設備業；散熱風扇與散熱模組 上櫃（櫃買中心）

Overview

3071 對應協禧電機股份有限公司，英文名稱 ADDA CORP.，為台灣上櫃普通股，非 ETF、ETN、權證或特別股。公司創立於 1978 年 7 月 19 日，公開發行日為 2000 年 6 月 9 日，興櫃日為 2002 年 1 月 2 日，上櫃日為 2004 年 12 月 30 日。總公司位於屏東市橋南里工業六路東段 6 號，另有高雄總管理處與台北辦公室。實收資本額為新台幣 11 億元，已發行普通股 110,000,000 股。董事長為黃瑞益；依公司 2025 年 8 月 11 日重大訊息，總經理由劉明雄退休後改由黃瑞益擔任，生效日為 2025 年 9 月 1 日。113 年年報列示截至 2025 年 3 月 31 日從業員工 168 人，研發人員 53 人。主要股東依 113 年年報 2025 年 4 月 21 日資料包括康勛股份有限公司 19.80%、嘉泰投資開發股份有限公司 17.80%、康達投資股份有限公司 13.98%，三者互有關係人或親屬關係揭露。公司以 ADDA 品牌行銷全球，主要經營熱源處理及冷卻風扇。

Business

協禧為散熱風扇與散熱模組廠，核心業務為散熱產品研發、設計、製造與整合式散熱解決方案。主要產品包括直流無刷散熱風扇、交流工業用散熱風扇、無刷式直流鼓風扇、散熱裝置、特殊用途風扇、防塵防水抗鹽霧風扇、防爆風扇、車載與航空應用風扇、5G／AI 產品應用風扇、電源管理應用風扇及整合散熱模組。依 113 年年報，2024 年銷售額中 AC 與 DC 風扇約占 68.74%，散熱模組 COOLER 約占 31.26%。應用涵蓋 8K、VR／AR、5G 雲端通訊、雲端儲存、智慧影音、微型投影機、數位電子看板、車用 LED 頭燈、ADAS、車用電子、電動車系統、電池模組、充電站、光伏逆變器、太陽能儲電系統、智慧家電、空氣清淨、掃地機器人、提款機、辦公室設備、IPC、LED 看板、冷藏設備、伺服器、網通、AI PC、筆記型電腦、晶片散熱模組、工業電腦、顯示卡、網路卡、視訊會議系統等。2024 年銷售地區以外銷為主，內銷 4.42%，外銷 95.58%，其中亞洲 41.24%、美洲 3.13%、其他地區 51.21%。商業模式以自有品牌、客製化規格設計、直供客戶與經銷系統並行，並透過美國、日本、歐洲子公司及香港辦事處支援銷售與物流。公司揭露最近二年度無任一供應商占進貨總額逾 10%；2025 年第一季有 A 客戶占銷貨淨額 11.02%，但客戶名稱因契約未揭露。

Outlook 2025–2028

2025 至 2028 年展望主要來自散熱需求升級與應用擴散。成長動能包括高效能運算、生成式 AI、5G、超級電腦 GPU、資料中心、ADAS、車聯網、再生能源、光伏與儲能、車用電子、電動車電池模組與充電樁等。公司 113 年年報引用 MarketsandMarkets 資料稱全球散熱解決方案市場至 2028 年預估達 193 億美元、年複合成長率約 10%，並引用 Mordor Intelligence 資料稱 2024 至 2029 年全球高效能運算市場年複合成長率可達 10% 以上；這些趨勢有利於風扇與散熱模組規格升級。公司策略包括強化車載散熱、5G／AI 應用風扇、網通／雲端伺服器散熱風扇、太陽能電源轉換器散熱風扇、高階伺服器散熱器、IP68 防塵防水抗鹽霧架構、低噪音高風量高靜壓長壽命產品，並導入 AI 自動化精密儀器與自動化設備、AI 智能檢測、溯源智能管理、PLM 同步工程與部品共用。2023 年法說新聞指出光伏與儲能散熱模組已開始交貨或送樣，中國與歐洲市場訂單有望成為後續成長動能；2026 年 1 至 5 月累計營收年增 32.48%，顯示短期需求已有回升跡象。主要風險包括中國市場景氣復甦不確定、歐美通膨與終端下單保守、散熱產業價格競爭、人工與材料成本上升、PBT／塑膠與原油價格、IC 與電晶體等半導體供需、鋼銅鋁價格波動、客戶新品導入時程、AI 伺服器高階液冷趨勢可能使傳統風冷方案競爭壓力提高，以及匯率與外銷需求波動。

Supply Chain

Upstream
  • PBT 與塑膠材料供應商 主要原料之一；公司年報僅揭露為國內外知名大廠且供應穩定，未揭露具名供應商。價格與原油及塑化材料行情相關。
  • 軸承類供應商 散熱風扇馬達與旋轉結構關鍵零件；年報未揭露具名供應商，並稱無任一供應商占進貨總額逾 10%。
  • IC 與電晶體供應商 風扇控制、電源與驅動相關零件；年報未揭露具名供應商，價格與半導體行業景氣相關。
  • 散熱片、基板與金屬材料供應商 散熱模組與散熱裝置零件；年報提及價格與鋼、銅、鋁等材料價格相關，未揭露具名供應商。
  • 自動化與檢測設備供應商 公司規劃導入 AI 自動化精密儀器、AI 智能檢測與溯源智能管理設備；具名設備供應商未揭露。
Downstream
  • 未揭露 A 客戶 年報揭露 2025 年第一季 A 客戶銷貨 59,571 仟元，占當期銷貨淨額 11.02%；因契約因素未揭露名稱，無法判斷是否上市櫃。
  • 中國光伏與儲能客戶 2023 年法說新聞指出光伏與儲能散熱模組已接獲中國市場訂單，部分產品開始銷貨或送樣；客戶名稱未揭露。
  • 歐洲光伏與儲能客戶 2023 年法說新聞指出歐洲市場亦有光伏與儲能散熱模組訂單或送樣；客戶名稱未揭露。
  • 歐美車用 Tier 1 客戶 市場報導稱協禧車用風扇出貨給歐美一級供應商後間接進入電動車供應鏈；屬未經公司年報逐名揭露之客戶資訊。
  • 雲端伺服器、網通與工業電腦客戶 散熱風扇、鼓風扇與散熱模組終端應用包括伺服器、5G／AI、雲端儲存、網通設備與 IPC；具名客戶未揭露。

Competitors

Sources（15）

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.