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3285

微端 Other Electronics As of 2026-06-17 Updated daily after market close

steady quality, fair valuation.

This page refreshes daily after the close. Add 微端 to your watchlist to track signal changes on your next visit.
Valuation 29Quality 52Growth 96Momentum 87Chips 48

Is 微端 a buy? Fundamentals and valuation first

  • Above-average profitability.Operating margin is in the 53th market percentile. Latest quarterly ROE ≈ 2.0%.

  • Valuation is neutral.PE is in the 76th market percentile; within its own history, PE is around the 81th percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 0.3% of volume (net buy).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 216.8%, above the 20% growth threshold.

  • Signals are active now.On the latest data, signals such as 252-day price high, Revenue YoY ≥ 20% are active — see the historical forward returns after each occurrence below.

Chip flow

Bullish +0.84
BearishNeutralBullish

Single-sided accumulation, concentration rising — bullish

  • Single-sided accumulation, concentration rising — bullish
  • 永豐金-內湖 holds 421 lots
  • sellers have 75 lots left, ~20 sessions to clear

Window from 2026-01-17 · Price +66% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 永豐金-內湖 has accumulated 421 lots since the start (sold 0%), still adding.
  • Main distributor 國泰-敦南 peaked at 113 lots, has sold 58%, 48 left, ~15 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders +2.59pp, mid holders +0, retail -0.74pp — concentration shifting upward.
  • Foreign hedge-desk net short Net short -49 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
永豐金-內湖元大-竹山國泰-台中元大-忠孝國泰-館前國票-長城
Distributing
國泰-敦南凱基-大直第一金-頭份統一-屏東宏遠-台南國票證券
Desks
own scale
聯邦商銀第一金-新竹永豐金-復興台新-嘉義
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 永豐金-內湖 +421
    sold 0%· still adding
  • 元大-竹山 +141
    sold 0%· still adding
  • 國泰-台中 +114
    sold 0%· still adding
  • 元大-忠孝 +113
    sold 0%· still adding
  • 國泰-館前 +108
    sold 1%
  • 國票-長城 +102
    sold 0%· still adding

Distributing

  • 國泰-敦南 48 left
    sold 58%· ~15 sessions to clear
  • 凱基-大直 4 left
    sold 89%· ~1 sessions to clear
  • 第一金-頭份 7 left
    sold 79%· ~6 sessions to clear
  • 統一-屏東 13 left
    sold 57%· paused recently
  • 宏遠-台南 3 left
    sold 90%· ~4 sessions to clear
  • 國票證券 6 left
    sold 78%· paused recently

Desks

  • 聯邦商銀 -270
    unclassified
  • 第一金-新竹 -144
    unclassified
  • 永豐金-復興 -111
    unclassified
  • 台新-嘉義 -93
    unclassified
Still selling 75 lots ~20 sessions to bottom at most
Recent buy/sell force +1,086 absorbed / -98 sold buyers slightly ahead
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.

252-day price high (breakout)

Active

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

13 historical occurrences (since 2014-08-27)
Average forward return after 252-day price high (breakout)。20-day: Win 58.3%, Sample 12, Median +5.37%, Excess +9.23%, Beat mkt rate 50%;60-day: Win 58.3%, Sample 12, Median +9.55%, Excess +8.37%, Beat mkt rate 50%;120-day: Win 58.3%, Sample 12, Median +7.55%, Excess +13.2%, Beat mkt rate 41.7%

120 days after: historical avg +20.74%

20-day +10.36%
60-day +11.77%
120-day +20.74%
20-day
60-day
120-day
Win
58.3%
58.3%
58.3%
Sample
12
12
12
Median
+5.37%
+9.55%
+7.55%
Excess
+9.23%
+8.37%
+13.2%
Beat mkt rate
50%
50%
41.7%

Over 12 occurrences, 120-day forward avg gained 20.74%, beat the market by 13.2 pts; win rate 58.3%.

Monthly revenue YoY ≥ 20% (from filing deadline)

Active · now 216.75%

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

58 historical occurrences (since 2012-07-23)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 50%, Sample 42, Median -0.01%, Excess +2.45%, Beat mkt rate 42.9%;60-day: Win 34.1%, Sample 41, Median -2.61%, Excess -3.14%, Beat mkt rate 34.1%;120-day: Win 39.5%, Sample 38, Median -5.79%, Excess -4.4%, Beat mkt rate 31.6%

120 days after: historical avg +1.44%

20-day +3.89%
60-day +0.91%
120-day +1.44%
20-day
60-day
120-day
Win
50%
34.1%
39.5%
Sample
42
41
38
Median
-0.01%
-2.61%
-5.79%
Excess
+2.45%
-3.14%
-4.4%
Beat mkt rate
42.9%
34.1%
31.6%

Over 38 occurrences, 120-day forward avg gained 1.44%, lagged the market by 4.4 pts; win rate 39.5%.

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 3180% -3.1% 42.5% -18.6%
20-40 358-6% -11.9% 42.2% -22.4%
40-60 487+1.6% -3.8% 45% -25.6%
60-80 487+3% +1.8% 57.3% -14.4%
80-100 You are here280+37.5% +36.6% 95.4% -8.8%

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 ≈ 49.68, at the 80.9th 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
-13.2%
Win rate 2.9% Excess -20%
140d
-8.4%
Win rate 15.8% Excess -12.3%
360d
Now
+10.4%
Win rate 75.8% Excess -9.1%
417d
60-day momentum down
+1.5%
Win rate 42.9% Excess -7.9%
382d
-1.2%
Win rate 38.9% Excess -9.7%
517d
+29.3%
Win rate 87.9% Excess +2.1%
232d

Currently in “Expensive (own-history top 1/3) × 60-day momentum up”: across 417 historical days, 120-day forward avg gained 10.4%, win rate 75.8%, lagged the market by 9.1%.

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.

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.

32 times historically; 60-day forward avg +3.96%, win rate 56.2%, beating the market by +2.16 pts on average.

What does 微端 do? Company profile

其他電子業;櫃買中心產業鏈歸類為電腦及週邊設備/其他電腦及週邊設備 上櫃(櫃買中心)

Overview

3285 對應證券為微端科技股份有限公司,英文名 Microtips Technology Inc.,為櫃買中心上櫃普通股,非 ETF、ETN、權證或特別股。公司成立於 1995 年 7 月 27 日,2012 年 7 月 23 日上櫃,總部位於新北市汐止區康寧街 169 巷 31 號 12 樓,統一編號 89649873,電話 (02)2692-3889。依 2026 年刊印之 114 年報與公開資料,董事長為陳曉華,總經理為魯景岱,發言人為楊宗達,股本為新台幣 427,353,240 元,已發行普通股 42,735,324 股。員工規模:2024 年 195 人、2025 年 190 人、截至 2026/3/31 為 176 人。主要股東名單(2026/4/13):鴻利投資 13.66%、香港商連達亞太台灣分公司 9.85%、勝煒投資 9.55%、璟均國際 4.96%、村晟投資顧問 3.20%、魯景明 2.59%、台新銀行受託信託財產專戶 2.52%、吳蕙妤 2.38%、吳建勳 2.33%、吳建辰 2.33%。關係企業包括 Microtips Technology LLC(美國,持股 59.33%)、Microtips (H.K.) Technology Limited(100%)、勝維智國際有限公司(香港,100%)、M-Tech Int’l Group Inc.(BVI,100%)、微端智能股份有限公司(100%)、勝維精密股份有限公司(20%)。

Business

公司定位為人機介面與電子產品 OEM/ODM 製造商,核心產品為液晶顯示模組、數位影音多媒體產品、軍警用設備、智能化資料開發服務與血液加溫器主板/醫療器材代工。2025 年(114 年度)合併營收新台幣 678,576 仟元,產品營收比重:液晶顯示模組 308,852 仟元、45.52%;數位影音多媒體產品 184,934 仟元、27.25%;軍警用設備 39,165 仟元、5.77%;智能化設備 30,314 仟元、4.47%;血液加溫器產品 23,807 仟元、3.51%;其他 91,504 仟元、13.48%。液晶顯示模組包含 STN LCM、TFT LCM,應用於醫療、通訊、辦公室自動化、工業控制、工控、車載與專業設備顯示。數位音效產品用於專業音樂錄音室、廣播電台、演唱會、網路直播等,產品包括音效處理器、混音器、擴大器、錄音器材與相關軟體。軍警用設備包含警用配戴式攝影機、執法影像設備、證據收集相機,強調加密、授權、影像蒐證與法院證據用途。智能化資料開發服務以智慧機上盒連結生產設備,提供資料採集、工業通訊協定轉換、MES/ERP 串接、可視化、邊緣運算與智慧製造資料分析。血液加溫器產品為醫療級電子控制模組與 PCBA 代工,服務以色列客戶之移動式/臨床式血液或輸液加溫器,終端市場以美國急救、手術、軍醫與大量輸血場景為主。商業模式以 OEM/ODM、客製化共同開發、少量多樣與工程協同設計為主,重視品質、交期、測試驗證、安規與醫療法規合規能力。2025 年主要銷貨客戶為 Fender 16%、Oracle 9%、其他 75%;2026 年第一季主要銷貨客戶為 Fender 19%、威至科技 9%、其他 72%。

Outlook 2025–2028

2025 年營運結果顯示,公司合併營收 6.79 億元、EPS 0.7 元,較 2024 年營收 8.45 億元下滑,但產品組合中 LCM 仍為最大收入來源,數位影音與醫療代工為重要變動項。2025 至 2028 年展望可分五條主軸:一、LCM:LCD 大規模資本投資趨於保守,但中小尺寸、客製化、高亮度、廣溫、低功耗、觸控整合與工控/醫療/車載/專業應用仍有利基需求,公司以高附加價值專用型模組、製程穩定與客製服務維持現金流。二、數位音效:與品牌大廠共同開發音效介面、效果器電源、踏板等新項目,成長動能來自專業音訊、直播、內容創作與品牌 OEM 專案,但需面對中國組裝廠比價與客戶產品互斥,客戶集中與新專案取得節奏會影響營收。三、軍警設備:全球執法記錄器需求受透明執法、證據保存、即時傳輸、AI 影像辨識、資料安全帶動,公司投入長續航、高畫質、無線傳輸、後台系統與子彈鑑識攝影工具;但此市場由 Axon、Motorola Solutions、Digital Ally、Reveal、Getac 等國際品牌主導,微端較可能扮演特定客戶 OEM/ODM 與客製製造角色。四、智能化設備:智慧工廠、IoT、AI、邊緣運算、低代碼工具與資料可視化將支撐需求,公司智慧盒可應用於 PCB、IC 載板、車載 PCB 與其他製造場域,但此領域需大量需求訪談、安裝調試與系統整合,專案型營收波動較大。五、血液加溫器:公司與以色列客戶合作,受美國市場與緊急醫療、EMS、軍醫需求帶動;年報引用外部研究稱 2026 年全球血液加溫器市場約 18 億美元、2026-2035 CAGR 約 6.43%,北美約占四成,若客戶通路擴張順利,微端醫療代工有望成為 2026-2028 高附加價值成長點。主要風險包括:美元匯率波動、原物料與物流成本、美國關稅不確定性、客戶訂單波動、低價競爭、醫療法規與品質系統門檻、資安風險、天災與供應鏈中斷。公司因應策略包括自然避險、策略性安全庫存、越南生產方案以分散中國/台灣產地與關稅風險、提高自動化、強化醫療級可靠度測試與法規能力。

Supply Chain

Upstream
  • 億力光電股份有限公司 LCD 供應商;年報列為主要原料 LCD 供應來源,供應狀況良好;公開資料顯示非上市櫃或未上市櫃性質,故 stock_id 依規則填 null。
  • 富相科技股份有限公司 LCD 供應商;年報列為主要原料 LCD 供應來源,供應狀況良好;公開發行但非上市櫃,故 stock_id 填 null。
  • Spin IC 供應商;年報列為數位音效產品 IC 供應來源,供應狀況良好;未確認為台股上市櫃公司。
  • 如陽電子 IC 供應商;年報列為數位音效產品 IC 供應來源,供應狀況良好;未確認為台股上市櫃公司。
  • 安富利 Avnet IC/電子零組件通路供應商;美國上市公司,非台股上市櫃,故 stock_id 填 null。
  • 力群電子股份有限公司 T/P 觸控面板供應商;年報列為供應來源,供應狀況良好;公開發行但非上市櫃,故 stock_id 填 null。
  • 勁高科技 T/P 供應商;年報列為供應來源,供應狀況良好;未確認為台股上市櫃公司。
  • 恒揚光電 B/L 背光模組供應商;年報列為供應來源,供應狀況良好;未確認為台股上市櫃公司。
  • 金協昌 PCB 供應商;年報列為供應來源,供應狀況良好;未確認為台股上市櫃公司。
  • 蘇菲克企業 PCB 供應商;年報列為供應來源,供應狀況良好;未確認為台股上市櫃公司。
  • 研華股份有限公司 2395 智慧盒/工業電腦相關供應商;年報列為智能化設備供應來源,供應狀況良好;台股上市公司。
  • 美綠 智慧盒供應商;年報列為智能化設備供應來源,供應狀況良好;未確認為台股上市櫃公司。
  • 鴻寶科技 恆溫恆壓控制熱水桶供應商;年報列為其他主要原料供應來源,供應狀況良好;未確認為台股上市櫃公司。
Downstream
  • Fender 主要銷貨客戶;2025 年銷貨 107,112 仟元、占 16%,2026 年第一季占 19%;美國樂器與音響品牌,非台股上市櫃。
  • Oracle 2025 年主要銷貨客戶,銷貨 59,870 仟元、占 9%;美國上市公司,非台股上市櫃。
  • 亞弘電科技股份有限公司 6201 2024 年主要銷貨客戶之一,銷貨 56,325 仟元、占 8%;台股上市櫃公司。
  • 威至科技 2026 年第一季主要銷貨客戶之一,占 9%;未確認為台股上市櫃公司。
  • QinFlow/以色列醫療器材客戶 年報敘述公司與以色列客戶合作代工移動式血液加溫器,並提及 QinFlow 在北美 EMS/軍醫通路布局;非台股上市櫃。
  • 國內外通路商、專業音響器材行、專業音響連鎖店 數位音效產品下游通路與終端銷售環節;非單一台股上市櫃公司。
  • 工控、醫療設備、車載系統、辦公室自動化與通訊設備廠商 LCM 下游應用產業;多為客製化 OEM/ODM 客戶,年報未逐一揭露公司名稱。
  • 警政、軍事、私人保全與執法設備品牌商 軍警用攝影機與證據收集相機下游應用;多為專案或品牌客戶,年報未逐一揭露台股公司名稱。

Competitors

  • 光聯科技股份有限公司 5315 台股上櫃公司;LCD/LCM 相關同業,可視為液晶顯示模組利基市場競爭者。
  • 眾福科技股份有限公司 3168 台股上櫃公司;顯示器與 LCD 相關產品同業,與微端 LCM 業務具部分競爭或替代關係。
  • 全台晶像股份有限公司 3038 台股上市公司;LCD 顯示器相關同業,屬顯示模組/顯示產品供應鏈競爭參考。
  • 義發科技股份有限公司 台股上櫃公司;LCD/LCM 相關同業,屬微端顯示模組業務競爭參考。
  • 聯友光電股份有限公司 台股上櫃公司;LCD/LCM 相關同業,屬顯示模組競爭參考。
  • 晶睿通訊股份有限公司 3454 台股上市公司;網路攝影機與安防影像設備供應商,與微端軍警攝影/影像設備在安防影像終端應用有間接競爭。
  • 奇偶科技股份有限公司 3356 台股上櫃公司;影像監控與安防系統廠商,與微端軍警影像設備在安全監控應用有間接競爭。
  • 研華股份有限公司 2395 台股上市公司;工業電腦、IoT、智慧工廠平台龍頭,與微端智能化設備/智慧盒服務在工業資料採集與邊緣設備有部分競爭,也同時可能是供應鏈合作對象。
  • Axon Enterprise 美國上市公司;全球執法記錄器與警用影像平台主要品牌,非台股上市櫃。
  • Motorola Solutions 美國上市公司;警用通訊、影像與公共安全平台主要供應商,非台股上市櫃。
  • 3M Company 美國上市公司;年報列為美國血液與靜脈輸液加溫設備主要競爭者之一,非台股上市櫃。
  • ICU Medical / Smiths Medical 美國上市公司/醫療器材品牌;年報列為血液與輸液加溫設備主要競爭者,非台股上市櫃。
  • Stryker Corporation 美國上市公司;年報列為血液加溫器相關競爭者之一,非台股上市櫃。
  • Baxter International 美國上市公司;年報列為血液加溫器相關競爭者之一,非台股上市櫃。
  • Belmont Medical Technologies 美國醫療器材公司;血液與輸液加溫設備競爭者,非台股上市櫃。
Sources(18)

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.