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 3332 幸康. Please read: https://finlab.finance/en/setup?stock=3332
3332
steady quality, fair valuation, no active signal today.
Is 幸康 a buy? Fundamentals and valuation first
-
Above-average profitability.Operating margin is in the 67th market percentile. Latest quarterly ROE ≈ 3.5%.
-
Valuation is neutral.PE is in the 31th market percentile; within its own history, PE is around the 71th percentile.
-
Foreign investors are net buying.Foreign 20-day net flow ≈ 2.7% of volume (net buy).
Chip flow
Institutional rotation, concentration steady — bullish
Window from 2026-01-17 · Price +14% · branches to 2026-06-17· TDCC to 2026-06-12
- Largest holder 兆豐-忠孝 has accumulated 658 lots since the start (sold 0%), still adding.
- Main distributor 統一-敦南 peaked at 79 lots, has sold 34%, 52 left, ~520 sessions to clear at the recent pace.
- TDCC big holders (absolute) >1000-lot holders -1.40pp, mid holders +0, retail -1.07pp — little change.
- Foreign hedge-desk net short Net short -51 lots (inferred from branch profile, mostly hedging — not necessarily bearish, not case-confirmed).
Accumulating
- 兆豐-忠孝 +658
- 台新證券 +185
- 元大-新生 +115
- 新光 +85
- 聯邦商銀 +57
- 亞東 +52
Distributing
- 統一-敦南 52 left
- 凱基-城中 2 left
- 元大-新竹經國 1 left
- 凱基-站前 3 left
- 臺銀-金山 6 left
- 元大證券 1 left
Desks
- 永豐金-板新 -280
- 群益金鼎-延平 -100
- 美商高盛 -89
- 群益金鼎-古亭 -37
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
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 band | Sample days | 240-day avg return | Median | Win rate | Avg excess (vs index) |
|---|---|---|---|---|---|
| 0-20 | 376 | -0.7% | -3% | 38% | -25.4% |
| 20-40 | 392 | +1.8% | +0.5% | 55.4% | -10.8% |
| 40-60 | 345 | -3.1% | -1.7% | 28.1% | -7.5% |
| 60-80 You are here | 683 | +7.4% | +6.8% | 56.7% | -1.5% |
| 80-100 | 1247 | +19.1% | +18.9% | 82.6% | -3.6% |
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 ≈ 16.28, at the 70.6th percentile of its own history (60-80 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.
Currently in “Expensive (own-history top 1/3) × 60-day momentum up”: across 960 historical days, 120-day forward avg gained 6.9%, win rate 65.3%, lagged the market by 3.5%.
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.
Signals not active (historical stats for reference)
These are not occurring now; historical samples shown for comparison.
252-day price high (breakout)
PendingAdjusted close makes a new 252-day high; repeats within 20 days counted once.
24 times historically; 60-day forward avg +2.07%, win rate 41.7%, beating the market by -2.34 pts on average.
Monthly revenue YoY ≥ 20% (from filing deadline)
PendingMonthly revenue YoY ≥ 20%; event date is the first trading day after the filing deadline (no look-ahead).
49 times historically; 60-day forward avg +6.96%, win rate 80.9%, beating the market by +2.82 pts on average.
Foreign net buying for 5 straight days
PendingForeign net flow (ex-dealer) positive for 5 straight days; event on day 5; repeats within 20 days counted once.
What does 幸康 do? Company profile
Overview
3332 對應證券為幸康電子，屬櫃買中心上櫃普通股。公司成立於 1991/02/13，2004 年登錄興櫃，2008/01/24 上櫃掛牌；總部位於台北市大安區信義路四段306號14樓，主要生產基地為彰化福興廠，另有台中研發中心與中國東莞廠。董事長為周世軒，總經理為顏雲曉。櫃買中心資料顯示實收資本額為新台幣 481,042,460 元；2023 年永續報告書揭露截至 2023/12/31 員工 298 人，且均為正職。主要股東依可查公開資料包括鄭水竹、呂惠清、鄭震三、林美華、周世軒、周玉庭等；2026/05 董監持股資料顯示鄭水竹約 19.08%、周世軒約 10.15%、周玉庭約 10.15%，另公司官網主要股東名單曾揭露呂惠清約 16.15%、鄭震三約 8.44%、林美華約 8.44%。公司英文簡稱 CINCON，自有品牌亦為 CINCON。
Business
幸康是專業電源供應器與電源轉換器廠，主要產品包括 DC/DC Converter、AC/DC Switching Power Supply、LED Power、電池充電器、電源轉換器、各式變壓器等。公司官網與永續報告書說明，應用領域涵蓋鐵道運輸、工業電子設備、ITE 資訊類、5G 通訊、醫療、家用電器、IOT 工業應用、電動車、國防與太陽能/光伏等。商業模式以自有品牌 CINCON 行銷全球，並提供客製化、少量多樣、高可靠度與高認證門檻的電源模組與系統解決方案；銷售對象主要為國內外電子設備製造商、設計公司與系統業者，也有國外同業貼牌或技術支援/代工需求。2023 年永續報告書揭露主要產品銷售區域為亞洲 38.49%、歐洲 28.35%、美洲 26.69%、台灣 6.22%、其他 0.25%；MoneyDJ 整理 2024 年銷售地區約為亞洲 41%、歐洲 31%、美洲 25%、台灣 3%。官方報告可確認公司主要商品幾乎集中於電源供應器，但未查得 2025/2026 最新且經公司正式公告的 AC/DC 與 DC/DC 產品別營收占比。2025 年全年營收依公開月營收彙整約新台幣 16.00 億元，較 2024 年成長約 19% 至 20%；2026 年前數月仍呈年增，但月營收波動受出貨時點與客戶備貨影響。
Outlook 2025–2028
2025 至 2028 年展望以利基型高可靠度電源需求為主軸。成長動能包括：一、工業自動化、醫療電子、鐵道、5G 通訊、IOT、電動車、光伏與資料中心/高效電力架構等應用擴大，推升高效率、高功率密度、寬輸入電壓、強化絕緣與低待機功耗產品需求；二、幸康在工業、醫療、運輸、通訊等非消費性市場採少量多樣與客製化策略，產品認證期長、進入門檻較高，有助維持客戶黏著；三、公司中期目標明確落在 2025-2028：客戶滿意度維持 80 分以上、專利有效續存件數 14 件、通過 ISO13485 醫療器材品質管理系統、導入 APS 先進規劃排程系統與 MES 製造執行系統，代表研發、品質與製造數位化會是重點；四、2023 永續報告書提到高效能運算、人工智慧、車用電子新興科技持續擴張，可能挹注接單與研發方向。潛在風險包括：一、電源供應器產業與資通訊景氣及全球總體經濟連動，客戶庫存調整會影響訂單；二、工資、研發與技術人才成本上升，需靠自動化、委外加工與海外生產降低成本；三、高科技產品生命週期短、競價銷售與新興國家競爭加劇；四、原物料如電容、PCB、半導體零件、磁性元件與功率元件價格及供應穩定度；五、匯率、歐美法規與醫療/工業/鐵道安規認證延遲；六、碳盤查、節能減碳、供應鏈稽核與國際客戶 ESG 要求提高。整體判斷：2025-2028 若工業、醫療、通訊與高效電力需求延續，幸康可望受惠於高可靠度利基市場；但公司規模相對大型電源廠小，成長能見度仍取決於客戶認證、研發時程、產能效率與全球終端需求。
Supply Chain
- 國巨 2327 被動元件供應鏈代表公司；電源供應器常用電阻、電容、MLCC 等零件。未查得國巨為幸康直接供應商之公開證據，列為產業上游參考。
- 華新科 2492 被動元件供應鏈代表公司；電源供應器需使用電容、電阻等零組件。未確認為幸康直接供應商。
- 台半 5425 功率半導體、整流元件等電源相關上游代表；未確認為幸康直接供應商。
- 強茂 2481 二極體、整流橋、功率元件等電源供應器上游代表；未確認為幸康直接供應商。
- 瀚宇博德 5469 PCB 供應鏈代表公司；MoneyDJ 指出幸康重要原物料包含 PCB。未確認為幸康直接供應商。
- 電容、PCB、半導體零件、磁性元件、變壓器、線圈、塑膠射出與機構件供應商 MoneyDJ 與公司營業項目顯示主要原物料包含電容、PCB、半導體零件等；具體供應商名單未公開。
Competitors
- 台達電 2308 台灣大型電源供應器與資料中心電力解決方案廠；規模、客戶覆蓋與 AI/HVDC 電力布局遠大於幸康。
- 光寶科 2301 大型電源供應器與電子零組件廠，與幸康同屬電源供應器競爭族群，但客戶與產品規模更大。
- 飛宏 2457 電源供應器、充電器與能源相關產品廠，屬同業競爭者。
- 全漢 3015 電源供應器廠，產品涵蓋工業、醫療、PC、伺服器與綠能應用，為國內同業。
- 博大 8109 電源模組與電源供應器廠，與幸康在工業與利基型電源市場具可比性。
- 環科 2413 電源供應器與電子相關產品廠，MoneyDJ 與市場資料列為國內同業。
- 首利 1471 市場資料列入電源供應器概念股與幸康同業比較名單。
- 海韻電 6203 電源供應器品牌廠，主要偏 PC、工業及高階電源市場，部分產品應用與幸康重疊。
Sources（19）
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.