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3149

正達 Optoelectronics As of 2026-06-17 Updated daily after market close

quality needs a look, premium valuation.

2 active signals
252d high Foreign buy
This page refreshes daily after the close. Add 正達 to your watchlist to track signal changes on your next visit.
Valuation 7Quality 10Growth 23Momentum 95Chips 65

Is 正達 a buy? Fundamentals and valuation first

  • Weak profitability.Operating margin is in the 12th market percentile. Latest quarterly ROE ≈ -3.4%.

  • Valuation is high.PE is in the 96th market percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 2.5% of volume (net buy).

  • Signals are active now.On the latest data, signals such as 252-day price high, Foreign net buying 5 straight days are active — see the historical forward returns after each occurrence below.

Chip flow

Bearish -0.41
BearishNeutralBullish

Distribution to retail — bearish

  • Distribution to retail — bearish
  • 摩根大通 holds 4,074 lots
  • sellers have 4,461 lots left, ~114 sessions to clear

Window from 2026-01-17 · Price +95% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 摩根大通 has accumulated 4,074 lots since the start (sold 0%), still adding.
  • Main distributor 美商高盛 peaked at 6,538 lots, has sold 73%, 1,779 left, paused recently.
  • TDCC big holders (absolute) >1000-lot holders -9.41pp, mid holders -15, retail +13.29pp — drifting down to retail.
  • Foreign hedge-desk net short Net short -3,784 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
摩根大通台灣摩根士丹利凱基-中山凱基-台北國泰-敦南兆豐-台中
Distributing
美商高盛新加坡商瑞銀福邦證券元大-竹科致和-金華富邦-南京
Desks
own scale
康和-永和群益金鼎-大安元大-四維美林
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 摩根大通 +4,074
    sold 0%· still adding
  • 台灣摩根士丹利 +3,505
    sold 0%· still adding
  • 凱基-中山 +3,395
    sold 0%
  • 凱基-台北 +3,272
    sold 19%· still adding
  • 國泰-敦南 +1,716
    sold 20%
  • 兆豐-台中 +1,535
    sold 0%· still adding

Distributing

  • 美商高盛 1,779 left
    sold 73%· paused recently
  • 新加坡商瑞銀 2,396 left
    sold 43%· ~50 sessions to clear
  • 福邦證券 660 left
    sold 49%· ~10 sessions to clear
  • 元大-竹科 104 left
    sold 83%· ~55 sessions to clear
  • 致和-金華 97 left
    sold 82%· ~3 sessions to clear
  • 富邦-南京 146 left
    sold 72%· paused recently

Desks

  • 康和-永和 -6,593
    unclassified
  • 群益金鼎-大安 -4,885
    unclassified
  • 元大-四維 -3,766
    unclassified
  • 美林 -3,353
    hedge desk · will cover
Still selling 4,461 lots ~114 sessions to bottom at most
Recent buy/sell force +7,610 absorbed / -2,674 sold buyers slightly ahead
Hedge-desk net short -3,756 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)

Weak direction: big-holder share fell while retail share rose.

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.

14 historical occurrences (since 2016-11-02)
Average forward return after 252-day price high (breakout)。20-day: Win 46.2%, Sample 13, Median -2.38%, Excess +1.69%, Beat mkt rate 38.5%；60-day: Win 38.5%, Sample 13, Median -6.71%, Excess +8.78%, Beat mkt rate 38.5%；120-day: Win 41.7%, Sample 12, Median -1.62%, Excess +25.73%, Beat mkt rate 50%

120 days after: historical avg +40.88%

20-day +5.21%
60-day +17.5%
120-day +40.88%
20-day
60-day
120-day
Win
46.2%
38.5%
41.7%
Sample
13
13
12
Median
-2.38%
-6.71%
-1.62%
Excess
+1.69%
+8.78%
+25.73%
Beat mkt rate
38.5%
38.5%
50%

Over 12 occurrences, 120-day forward avg gained 40.88%, beat the market by 25.73 pts; win rate 41.7%.

Foreign net buying for 5 straight days

Active · now 7%

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

46 historical occurrences (since 2012-06-14)
Average forward return after Foreign net buying for 5 straight days。20-day: Win 57.8%, Sample 45, Median +3.62%, Excess +0.79%, Beat mkt rate 48.9%；60-day: Win 40%, Sample 45, Median -8.09%, Excess -1.88%, Beat mkt rate 33.3%；120-day: Win 45.5%, Sample 44, Median -1.42%, Excess +0.85%, Beat mkt rate 36.4%

120 days after: historical avg +10.59%

20-day +3.65%
60-day +3.98%
120-day +10.59%
20-day
60-day
120-day
Win
57.8%
40%
45.5%
Sample
45
45
44
Median
+3.62%
-8.09%
-1.42%
Excess
+0.79%
-1.88%
+0.85%
Beat mkt rate
48.9%
33.3%
36.4%

Over 44 occurrences, 120-day forward avg gained 10.59%, beat the market by 0.85 pts; win rate 45.5%.

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).

74 times historically; 60-day forward avg +2.87%, win rate 40.4%, beating the market by -1.94 pts on average.

What does 正達 do? Company profile

電子－光電業；精密玻璃加工、光電玻璃、車載玻璃與建築玻璃 上市（台灣證券交易所 TWSE）

Overview

正達國際光電股份有限公司，股票代號3149，為台灣證券交易所上市普通股。公司成立於1996年6月27日，2011年11月23日掛牌上市，總部位於苗栗縣銅鑼鄉中興工業區中興路99號。公司英文名稱為G-TECH Optoelectronics Corporation，統一編號97049373。依2026年6月公司登記與公開資訊，董事長為許庭禎，總經理為洪敏男，發言人為邱火生；董事長由鍾志明於2026年6月1日任期屆滿改選後交棒許庭禎，總經理於2026年3月起由洪敏男擔任。實收資本額約新台幣22.62億元，已發行普通股約226,233,604股。員工規模依2025年6月法說會為531人；2024年年報揭露113年度員工403人、截至年報刊印日393人，顯示員工數口徑與時間點不同。主要股東方面，2026年前後鴻海集團旗下投資公司持股曾明顯下降；公開報導指出鴻海集團持股由約10.6%降至4.96%，另公司前十大股東資料與董監持股顯示創辦人/前董事長鍾志明仍持有股份，但最新完整前十大股東名單需以公開資訊觀測站最新股東會資料為準。

Business

正達是精密玻璃加工與玻璃關鍵零組件供應商，核心製程涵蓋玻璃切割、CNC加工、鑽孔、拋光、薄化、化學強化、AR/AS/ITO等鍍膜、印刷、貼合與3D熱成型。2024年年報揭露主要產品與營收結構為：智能光電新台幣13.506億元、占62.44%；智能汽車新台幣5.992億元、占27.70%；智能建築新台幣2.134億元、占9.86%。智能光電包括觸控感測與保護玻璃、大尺寸超薄玻璃基板加工、先進扇出式面板級封裝FOPLP應用；智能汽車包括多曲面3D整合單片玻璃、儀表/機構/內飾件玻璃工藝應用、2D/3D車載蓋板與多曲面蓋板；智能建築包括Low-E節能玻璃、LED+LED/IGU複層帷幕玻璃、BIPV建築整合太陽能與智慧調光/電子紙材料結合應用。商業模式以客製化精密加工、品牌/車廠/Tier 1共同開發、量產供貨與建築玻璃專案出貨為主。公開法說會資料指出，正達2007年起為Apple Track Pad認證供應商，參與Apple Industrial Design共同開發量產，至2025年5月累計出貨1億9,800萬片，並稱為Apple全球兩大供應商之一；車載業務方面，正達與康寧合作擴展車載與次世代顯示應用，十多年來與多家國際車廠合作，且參與先期設計與開發；建築玻璃案例包括竹北AI義隆電研發大樓、台中聯聚瑞安等。

Outlook 2025–2028

2025至2028年展望核心在轉型與產能配置。成長動能包括：1. 車載智慧座艙與內飾件玻璃大型化、多曲面化，法說會指出正達主力產品為多曲面3D蓋板玻璃，已與多家國際車廠合作並切入設計階段，越南海陽廠聚焦車載2D/3D蓋板與多曲面蓋板，預計2025年Q3投產、2026年穩定供貨並擴大產能曲線。2. 歐盟2026年起限制過度使用螢幕控制、要求基本功能回歸實體按鍵，正達評估其玻璃按鍵/旋鈕/內飾工藝有機會受惠。3. 智能光電方面，Apple MacBook Air改款、Track Pad長期供貨，以及FOPLP玻璃載板與封裝應用技術，是公司希望進一步切入先進製程/半導體供應鏈的方向。4. 智能建築方面，台灣2050淨零路徑、建築節能與近零碳建築要求，支撐Low-E、複層帷幕玻璃、BIPV與智慧建材需求。主要風險與挑戰包括：2025年第一季仍為虧損，法說會揭露2025Q1營業收入4.70677億元、營業毛損7,766.5萬元、本期淨損1.46006億元；越南建廠、設備搬遷、打樣與新產品開發需資本支出並可能壓抑短期獲利；客戶集中度高，2024年年報以代號揭露D客戶占銷貨40.75%、C客戶占16.81%，A供應商占進貨57.97%；車用新案量產時程、車廠認證週期、建築案遞延、原料與能源成本、匯率、利率、同業價格競爭、中國低價觸控/玻璃加工供應鏈，以及高波動題材股資金退潮，均是需要追蹤的風險。

Supply Chain

Upstream
  • AGC 日本上市玻璃材料公司；正達年報揭露主要原料玻璃基板供應商包含AGC，供貨品質與貨源穩定。
  • 康寧（Corning Incorporated） 美國上市玻璃材料與特殊玻璃公司；正達2025法說會揭露與康寧戰略合作，整合材料、技術與產能，強攻車載與次世代顯示應用。
  • 觸控/光電玻璃上游材料供應商 年報說明觸控面板/顯示產業上游包括玻璃基板、PET膜、ITO靶材、OCA光學膠等；個別供應商多因保密協議以代號揭露。
Downstream
  • Apple Inc. 美國上市品牌客戶；正達法說會稱2007年起為Apple Track Pad認證供應商，至2025年5月累計出貨1億9,800萬片，並為Apple全球兩大供應商之一。
  • 國際車廠與Tier 1/Tier 2系統廠 車載玻璃下游客戶；公司法說會與年報多以國際車廠、主要車廠、一級廠或北美最大車廠RFI等方式揭露，未完整公開客戶名稱。
  • 義隆電 2458 建築玻璃終端應用案例；法說會列示竹北AI義隆電研發大樓為穩定出貨建案之一，是否為直接交易客戶未公開。
  • 建築開發商與帷幕牆/建材通路 智能建築玻璃下游；法說會列示台中聯聚瑞安、台北雙子星、竹北高鐵、宏匯未來之心、聯聚玉衡、聯聚理安、桃園青埔臻鼎時代大廈等建案動態，實際合約對象未逐一揭露。

Competitors

  • TPK-KY 3673 台股上市觸控模組/觸控解決方案廠，與正達在觸控與保護玻璃終端供應鏈有部分競合，但產品層級不完全相同。
  • 洋華 3622 台股上市觸控面板相關廠商，屬智能光電/觸控供應鏈同業競爭者。
  • 富晶通 3623 台股上市觸控面板與光電相關廠商，屬部分應用市場同業。
  • 安可 3615 台股上櫃光電材料/ITO導電膜相關廠商，與正達ITO鍍膜、觸控材料鏈有部分競合。
  • 介面 3584 台股上櫃觸控面板相關公司，屬觸控應用供應鏈競爭者。
  • 勝華 曾為台灣觸控面板重要廠商，現非一般上市櫃交易標的；僅作歷史同業參照。
  • 中國玻璃加工與觸控面板供應商 年報明示中國低價觸控面板供應商與面板/觸控模組廠向上整合，是正達在保護玻璃與觸控玻璃領域的價格競爭壓力來源。
Sources（14）

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.