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3535

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

strong quality, premium valuation.

1 active signal

Revenue ≥20%

This page refreshes daily after the close. Add 晶彩科 to your watchlist to track signal changes on your next visit.

Is 晶彩科 a buy? Fundamentals and valuation first

Top-tier profitability.Operating margin beats ~85% of the market. Latest quarterly ROE ≈ 4.9%.
Valuation is high.PE is in the 97th market percentile; within its own history, PE is around the 95th percentile.
Foreign investors are net buying.Foreign 20-day net flow ≈ 3.6% of volume (net buy).
Strong revenue growth.Latest monthly revenue YoY ≈ 2229.0%, 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

Bearish -0.70

BearishNeutralBullish

Distribution to retail — bearish

Distribution to retail — bearish
中國信託-忠孝 holds 1,275 lots
sellers have 824 lots left, ~34 sessions to clear

Window from 2026-01-17 · Price +26% · branches to 2026-06-17· TDCC to 2026-06-12

Largest holder 中國信託-忠孝 has accumulated 1,275 lots since the start (sold 17%), now trimming.
Main distributor 富邦證券 peaked at 3,782 lots, has sold 87%, 483 left, paused recently.
TDCC big holders (absolute) >1000-lot holders -7.24pp, mid holders -14, retail +14.92pp — drifting down to retail.
Foreign hedge-desk net short Net short -9,170 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

中國信託-忠孝新光-台中富邦-木柵元富-虎尾兆豐-寶成華南永昌-忠孝

Distributing

富邦證券元大證券國泰-敦南凱基-中山華南永昌-朴子聯邦-高雄

Desks

own scale

美商高盛台灣摩根士丹利美林凱基-台北

Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline

Branch details Unit: lots

Accumulating

中國信託-忠孝 +1,275

sold 17%
新光-台中 +264

sold 25%
富邦-木柵 +212

sold 20%
元富-虎尾 +207

sold 0%
兆豐-寶成 +205

sold 8%
華南永昌-忠孝 +196

sold 0%

Distributing

富邦證券 483 left

sold 87%· paused recently
元大證券 341 left

sold 63%· paused recently
國泰-敦南 343 left

sold 36%· paused recently
凱基-中山 111 left

sold 76%· paused recently
華南永昌-朴子 129 left

sold 67%· paused recently
聯邦-高雄 246 left

sold 34%· paused recently

Desks

美商高盛 -2,965

hedge desk · will cover
台灣摩根士丹利 -1,760

hedge desk · will cover
美林 -1,561

hedge desk · will cover
凱基-台北 -1,440

day-trade · selling pressure

Still selling 824 lots ~34 sessions to bottom at most

Recent buy/sell force +438 absorbed / -734 sold sellers slightly ahead

Hedge-desk net short -7,459 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.

Monthly revenue YoY ≥ 20% (from filing deadline)

Active · now 2229.02%

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

97 historical occurrences (since 2008-01-31)

120 days after: historical avg +6.72%

20-day +5.51%

60-day +7.56%

120-day +6.72%

20-day

60-day

120-day

Win

57.9%

50.5%

45.7%

Sample

Median

+2.74%

+0.33%

-2.42%

Excess

+4.57%

+5.8%

+3.43%

Beat mkt rate

56.8%

44.2%

40.2%

Over 92 occurrences, 120-day forward avg gained 6.72%, beat the market by 3.43 pts; win rate 45.7%.

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.

0-20 +25.6%

20-40 +66.2%

40-60 +39%

60-80 +72.4%

80-100 +115.6% Now

PE percentile band	Sample days	240-day avg return	Median	Win rate	Avg excess (vs index)
0-20	382	+25.6%	-10.1%	47.1%	-8.9%
20-40	155	+66.2%	+14.1%	59.4%	+37.1%
40-60	188	+39%	+27%	68.1%	+18%
60-80	139	+72.4%	+60.3%	95.7%	+21.4%
80-100 You are here	36	+115.6%	+80.2%	100%	+86.5%

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 ≈ 336.25, at the 95.0th 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

-22%

Win rate 1.2% Excess -34.4%

84d

+25.3%

Win rate 57.9% Excess +23%

195d

Now

+72.9%

Win rate 72.8% Excess +46.8%

136d

60-day momentum down

-6.2%

Win rate 17.9% Excess -19.7%

392d

+200.3%

Win rate 98.3% Excess +170%

58d

+57.8%

Win rate 62.6% Excess +30.9%

155d

Currently in “Expensive (own-history top 1/3) × 60-day momentum up”: across 136 historical days, 120-day forward avg gained 72.9%, win rate 72.8%, beat the market by 46.8%.

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.

26 times historically; 60-day forward avg +16.3%, win rate 61.5%, beating the market by +10.97 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.

64 times historically; 60-day forward avg +3.53%, win rate 38.1%, beating the market by +0.15 pts on average.

What does 晶彩科 do? Company profile

光電業；自動光學檢測與量測設備台灣證券交易所上市

Overview

晶彩科技股份有限公司，簡稱晶彩科，為台灣證券交易所上市普通股，股票代號3535。公司於2000年3月10日成立，2006年9月13日公開發行，2006年12月13日登錄興櫃，2008年1月31日上市掛牌。總部位於新竹縣竹北市環北路二段197號，統一編號70720798，實收資本額790,523,560元，已發行普通股79,052,356股。董事長兼總經理為陳永華，發言人為王子越。2025年報揭露，截至2026年3月31日，員工209人，平均年齡40.9歲，平均服務年資9.03年。主要股東與董事席次中，由田新技股份有限公司為法人董事，持股8,971,272股、約11.35%；陳永華持股1,900,813股、約2.40%。公司主要關係企業與海外據點包括Favite Limited等，並在台灣與中國大陸設服務據點。

Business

晶彩科核心業務為自動光學檢測（AOI）、量測（Metrology）、缺陷複檢、AI智能缺陷分類與客製化檢量測設備，收入來源包含檢量測系統及設備、設備零組件及電子配件、維修收入。早期主要服務TFT-LCD、LTPS、AMOLED、彩色濾光片、Touch Panel、TFT Cell等面板製程，近年將機器視覺、光學取像、精密機構、運動控制、AI影像演算法延伸到PCB、IC載板、Fan-Out封裝、晶圓檢測、FOPLP/FOWLP、2.5D/3D先進封裝、Micro LED與Micro OLED。產品包含薄膜電晶體高/低解析度AOI、素玻璃檢測、光罩AOI、CD/OL量測、膜厚/色度/光學密度量測、缺陷複檢、Fan-Out Panel Level RDL超細微線路檢查機、Wafer Level切割後Chip外觀檢查機、Horus智能化光學檢測暨量測機、AI智能缺陷辨識與分類方案。2024年產品營收比重據MoneyDJ彙整為自動光學檢測機約96%；2025年報未完整揭露按產品百分比，但明確指出主要營業收入來自自動光學檢測設備產品銷售。2025年合併營收459,861千元，年減31.12%，主因顯示器產業資本支出修正、傳統AOI訂單認列遞延與半導體高端設備驗證週期較長；2025年第4季受設備驗收認列轉盈。客戶面，年報揭露銷售集中度高但以匿名方式揭露：2025年前五大客戶占比分別約32.95%、16.89%、11.16%、10.69%、6.89%，2026年第1季最大客戶占比約71.59%；公開年報另指出產品已通過友達、群創及中國大陸TFT-LCD面板廠驗證並實際交機，並有知名PCB、Micro LED、新型顯示面板、封測與載板客戶導入或驗證。商業模式以客製化設備開發、交機驗收認列、既有裝機售後維護、軟體/AI演算法升級與模組改裝為主，因此營收具有設備驗收時點集中、客戶擴廠周期影響大的特性。

Outlook 2025–2028

2025年是晶彩科轉型陣痛期：傳統面板設備受終端消費疲弱、面板產業稼動率與資本支出修正影響，全年由盈轉虧，每股虧損約1.07元；但公司年報指出2025年底月營收反彈且單月自結獲利，並將2026年定義為價值轉化年，重點在把2025年投入驗證的半導體與先進封裝檢量測機台轉為實質訂單。2026至2028年的主要成長動能包括：一、AI/HPC推動2.5D/3D封裝、CoWoS/InFO/FOPLP/FOWLP等異質整合需求，帶動RDL細線路AOI、Die Location、Overlay、3D量測、AOM/In-Situ模組等高精度光學檢量測需求；二、公司已開發2微米級RDL Fine Line AOI、FOPLP RDL缺陷檢查、FOPLP AI自動複檢、Wafer AI AOI、Die Location量測、玻璃基板TGV AOI等產品，若通過一線封測、晶圓代工、載板客戶驗證，半導體營收占比與毛利率有機會提升；三、Micro LED、Micro OLED、車載與XR/AR高階顯示若在2026至2028年逐步放量，晶彩科的Micro LED巨量轉移後檢測、Epiwafer檢測、Micro OLED Inline/Mask AOI等設備可受惠；四、既有面板客戶的設備改造、AI複判、演算法升級與售後服務可提供較高黏著度收入。主要風險包括：高階半導體設備驗證期長、驗證不過或量產延後將造成收入遞延；單一或少數客戶占比高，訂單與驗收時點波動大；中國大陸本土AOI廠低價競爭壓迫傳統面板設備毛利；國際檢測設備大廠如KLA、Onto Innovation、Applied Materials及日韓設備商在半導體檢測市場技術與客戶基礎強；匯率、地緣政治、半導體資本支出周期、客戶收款期長均會影響現金流與獲利。2027至2028具體財測未見公司正式指引，以上為依公司年報、產品布局與產業趨勢所做的研究推估。

Supply Chain

Upstream

光學與光電零組件供應商年報揭露主要原料包含光學與光電零組件，供應情形良好；供應商名稱以甲、乙、丙、丁廠商匿名揭露，無法確認是否為台股掛牌公司。
電機電子零組件供應商年報揭露主要原料包含電機電子零組件，供應情形良好；公司採取至少兩家以上供貨來源以降低集中風險，未揭露具名供應商。
傳動零組件供應商年報揭露主要原料包含傳動零組件，供應情形良好；供應商未具名，stock_id無法確認。
由田新技股份有限公司 3455 由田新技為晶彩科主要法人股東與法人董事，並同屬AOI/機器視覺設備產業；公開報導曾提及雙方在面板、Mini/Micro LED、PCB及半導體AOI解決方案有合作與股權連結，但在特定訂單供應關係上仍需以公司公告為準。

Downstream

友達光電股份有限公司 2409 年報明載晶彩科檢測、量測設備已通過友達光電驗證及實際交機，屬面板下游客戶/終端應用製造商。
群創光電股份有限公司 3481 年報明載晶彩科檢測、量測設備已通過群創電子/群創光電驗證及實際交機，屬面板下游客戶/終端應用製造商。
中國大陸TFT-LCD、AMOLED、Mini LED、Micro LED面板廠年報指出公司自2009年進入中國大陸面板市場，成為中國大陸各大面板廠Array製程AOI及拍照設備主要供應商之一；個別公司未揭露，可能包含非台股掛牌或海外掛牌公司。
知名封測大廠年報指出2022年FOWLP Die Location量測機獲知名封測大廠採用，2025年亦與知名載板與封裝客戶進行深度驗證測試；客戶名稱未揭露，不能推定為特定台股公司。
知名PCB、IC載板與Micro LED客戶年報指出2021年AI即時AOI與知名PCB及Micro LED先驅大廠合作導入，並持續切入PCB、IC載板、Micro LED/OLED檢量測；客戶名稱未揭露。

Competitors

由田新技股份有限公司 3455 台股上櫃AOI/機器視覺設備廠，也是晶彩科主要法人股東；在先進封裝黃光段AOI、InFO、CoWoS等檢測站點布局，與晶彩科既有合作也存在產品與客戶競合。
均豪精密工業股份有限公司 5443 台股上櫃設備廠，布局半導體、面板與AOI/量測相關設備；公開報導列為本土AOI與先進封裝設備受惠廠商之一。
牧德科技股份有限公司 3563 台股上市AOI檢測設備廠，主要強項在PCB/載板與電子製造檢測，與晶彩科在PCB、IC載板及AI AOI應用上有部分競爭。
大量科技股份有限公司 3167 台股上櫃自動化與PCB/半導體設備廠，公開報導列為先進封裝與AOI設備接單受惠廠商之一。
志聖工業股份有限公司 2467 台股上市半導體、PCB、面板製程設備廠，並為由田新技股東之一；與晶彩科在電子/半導體設備供應鏈與部分客戶資本支出題材上競合。
KLA Corporation 美國NASDAQ上市半導體檢測與量測設備龍頭；在高階晶圓與先進封裝檢測市場為國際主要競爭者，非台股掛牌。
Onto Innovation Inc. 美國NYSE上市半導體檢測與量測設備商，先進封裝與晶圓級檢測市場主要競爭者，非台股掛牌。
Orbotech 以色列設備商，已併入KLA；MoneyDJ與產業資料列為TFT Array等AOI/檢測設備競爭者，非台股掛牌。
日立、Olympus、Takano、Kubotek、清河光學等日系設備商年報與產業資料列為面板AOI、量測與TFT Cell檢測設備競爭者；多為日本公司或未確認台股掛牌，stock_id設為null。
中國大陸本土AOI設備商年報指出2015年以來中國大陸TFT-LCD產業興起帶動當地AOI廠商以低價策略競爭，尤其在非高端製程與非高解析缺陷檢測市場形成壓力；個別公司未揭露。

Sources（12）

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.