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3546

宇峻 Cultural & Creative As of 2026-06-17 Updated daily after market close

strong quality, fair valuation.

2 active signals
Revenue ≥20% Foreign buy
This page refreshes daily after the close. Add 宇峻 to your watchlist to track signal changes on your next visit.
Valuation 44Quality 93Growth 87Momentum 51Chips 93

Is 宇峻 a buy? Fundamentals and valuation first

  • Top-tier profitability.Operating margin beats ~92% of the market. Latest quarterly ROE ≈ 8.7%.

  • Valuation is neutral.PE is in the 54th market percentile; within its own history, PE is around the 71th percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 12.2% of volume (net buy).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 61.3%, above the 20% growth threshold.

  • Signals are active now.On the latest data, signals such as Revenue YoY ≥ 20%, Foreign net buying 5 straight days are active — see the historical forward returns after each occurrence below.

Chip flow

Bullish +0.30
BearishNeutralBullish

Institutional rotation, concentration steady — bullish

  • Institutional rotation, concentration steady — bullish
  • 美商高盛 holds 735 lots
  • sellers have 23 lots left, ~11 sessions to clear

Window from 2026-01-17 · Price +13% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 美商高盛 has accumulated 735 lots since the start (sold 0%), still adding.
  • Main distributor 群益金鼎-丹鳳 peaked at 43 lots, has sold 26%, 32 left, paused recently.
  • TDCC big holders (absolute) >1000-lot holders -1.94pp, mid holders +4, retail -2.32pp — little change.
  • Foreign hedge-desk net short Net short -77 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
美商高盛台灣摩根士丹利凱基-台北新加坡商瑞銀港商野村美林
Distributing
群益金鼎-丹鳳統一-新台中兆豐-台中兆豐-嘉義玉山-高雄宏遠-台南
Desks
own scale
元大-民生三民富邦-新營群益金鼎-內湖台新
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 美商高盛 +735
    sold 0%· still adding
  • 台灣摩根士丹利 +395
    sold 0%· still adding
  • 凱基-台北 +302
    sold 13%· still adding
  • 新加坡商瑞銀 +245
    sold 0%· still adding
  • 港商野村 +228
    sold 0%· still adding
  • 美林 +224
    sold 14%· still adding

Distributing

  • 群益金鼎-丹鳳 32 left
    sold 26%· paused recently
  • 統一-新台中 29 left
    sold 28%· paused recently
  • 兆豐-台中 16 left
    sold 50%· paused recently
  • 兆豐-嘉義 3 left
    sold 88%· paused recently
  • 玉山-高雄 12 left
    sold 45%· paused recently
  • 宏遠-台南 6 left
    sold 70%· paused recently

Desks

  • 元大-民生三民 -245
    unclassified
  • 富邦-新營 -210
    unclassified
  • 群益金鼎-內湖 -207
    unclassified
  • 台新 -177
    unclassified
Still selling 23 lots ~11 sessions to bottom at most
Recent buy/sell force +1,379 absorbed / -40 sold buyers slightly ahead
TDCC big holders · absolute-holding cross-check
>1000-lot holder share Retail (<400 lots) share Price (right axis)

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

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 61.33%

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

80 historical occurrences (since 2008-04-18)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 53.3%, Sample 75, Median +1.11%, Excess +2.88%, Beat mkt rate 50.7%；60-day: Win 49.3%, Sample 73, Median -1.02%, Excess +7.45%, Beat mkt rate 43.8%；120-day: Win 52.1%, Sample 71, Median +3.51%, Excess +19.39%, Beat mkt rate 45.1%

120 days after: historical avg +26.02%

20-day +4.27%
60-day +11.26%
120-day +26.02%
20-day
60-day
120-day
Win
53.3%
49.3%
52.1%
Sample
75
73
71
Median
+1.11%
-1.02%
+3.51%
Excess
+2.88%
+7.45%
+19.39%
Beat mkt rate
50.7%
43.8%
45.1%

Over 71 occurrences, 120-day forward avg gained 26.02%, beat the market by 19.39 pts; win rate 52.1%.

Foreign net buying for 5 straight days

Active · now 10%

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

47 historical occurrences (since 2012-06-11)
Average forward return after Foreign net buying for 5 straight days。20-day: Win 45.7%, Sample 46, Median -0.6%, Excess -0.08%, Beat mkt rate 43.5%；60-day: Win 53.3%, Sample 45, Median +1.02%, Excess -2.74%, Beat mkt rate 33.3%；120-day: Win 51.2%, Sample 43, Median +0.25%, Excess -6.56%, Beat mkt rate 34.9%

120 days after: historical avg +2.21%

20-day +1.66%
60-day +2.5%
120-day +2.21%
20-day
60-day
120-day
Win
45.7%
53.3%
51.2%
Sample
46
45
43
Median
-0.6%
+1.02%
+0.25%
Excess
-0.08%
-2.74%
-6.56%
Beat mkt rate
43.5%
33.3%
34.9%

Over 43 occurrences, 120-day forward avg gained 2.21%, lagged the market by 6.56 pts; win rate 51.2%.

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 1026+14.7% +13.6% 69.4% +1.1%
20-40 562+6.1% +7.2% 64.2% -15.6%
40-60 651+13.5% +15.7% 81.6% -6.9%
60-80 You are here218+15.5% +15.5% 71.1% -18.2%
80-100 194+67.7% +43.6% 100% +51.8%

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 ≈ 25.25, at the 70.7th 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.

Valuation
Momentum
Cheap (own-history bottom 1/3)
Mid
Expensive (own-history top 1/3)
60-day momentum up
+6.1%
Win rate 63.1% Excess -1.4%
681d
+5.1%
Win rate 58% Excess -5.3%
629d
Now
+7.1%
Win rate 43.1% Excess -4.9%
218d
60-day momentum down
+7.3%
Win rate 61.1% Excess +0.3%
687d
+13.9%
Win rate 65% Excess +4.9%
397d
+16.2%
Win rate 55.3% Excess -7.4%
159d

Currently in “Expensive (own-history top 1/3) × 60-day momentum up”: across 218 historical days, 120-day forward avg gained 7.1%, win rate 43.1%, lagged the market by 4.9%.

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.

19 times historically; 60-day forward avg +8.81%, win rate 57.9%, beating the market by +4.14 pts on average.

What does 宇峻 do? Company profile

文化創意業；數位遊戲研發、營運與發行 上櫃

Overview

3546 對應證券為宇峻奧汀，於財團法人中華民國證券櫃檯買賣中心交易，為上櫃普通股。公司成立於1995/5/19，上櫃日期為2008/4/18，總部位於新北市中和區建八路2號17樓之8。董事長與總經理皆為劉信；發言人為葉文燦。公司實收資本額為新台幣584,273,230元，官方基本資料揭露員工人數為504人（2026/03/31）。2024年年報揭露研發人員約300多人，114年4月底研發人員359人。主要股東（114/05/01）包括群韋投資3,157,985股、持股5.95%；真原投資2,476,115股、4.66%；居則文3.04%；李玉山2.90%；劉信2.44%；張啓新2.27%；凱基商業銀行受託保管興天科技有限公司投資專戶2.19%；丁冠博2.00%；永紘投資1.21%；陳豐玲1.16%。關係企業包括USERJOY TECHNOLOGY CO., LTD.（薩摩亞，投資控股）、RICHLAND INVESTMENTS LIMITED（薩摩亞，投資控股）、北京飛行船軟件有限公司（中國大陸，遊戲軟體研發及製作）、USERJOY JAPAN株式會社（日本，遊戲通路業務）、USERJOY HONG KONG CO., LTD.（香港，遊戲通路業務）。2024年合併營收1,393,792仟元、營業毛利1,359,908仟元、營業利益259,619仟元、稅後純益294,316仟元、EPS 5.54元。

Business

宇峻奧汀以線上遊戲、手機遊戲軟體研發及銷售為主要業務，定位為自研、自營、代理、授權與海外發行並行的遊戲公司。2024年部門別營收結構為自營1,110,067仟元、占79.64%；授權134,343仟元、占9.64%；海外營運5,976仟元、占0.42%；代理及其他143,406仟元、占10.30%。銷售地區以客戶別區分，2024年內銷1,253,473仟元、占89.93%；外銷140,319仟元、占10.07%，但年報註明部分海外營運係授權內銷客戶經營。主要產品橫跨PC單機、PC線上、網頁、手機、VR與跨平台遊戲；代表IP與產品包括《三國群英傳》系列、《幻想三國誌》系列、《幻世錄》、《神州Online》、《三國群英傳Online》、《三國群英傳M》、《搓麻將》、《寶島娛樂城》、《Let’s Vegas拉斯維加斯娛樂城》、《英雄傳說 閃之軌跡：Northern War》等。商業模式包含自有IP研發、自營長線營運、遊戲內購與服務型遊戲更新、IP授權、海外授權、代理國際IP產品、平台會員與客服營運。公司自稱已開發百餘款數位遊戲，產品授權及發行區域涵蓋日本、歐洲、美國、中國、東南亞等地。主要客戶年報以甲公司、乙公司、丙公司代號揭露，2024年甲公司與乙公司分別占全年銷貨19.81%與18.65%，實名因契約或揭露限制未公開。

Outlook 2025–2028

2025年官方規劃聚焦多款自製與代理產品，包括自研武俠MMORPG《神州M》、東方Project題材《東方幻想ECLIPSE》繁體中文版、與智寶國際聯合代理SQUARE ENIX《FINAL FANTASY XIV》繁體中文版，以及《龍石戰爭》《雀星》等下半年產品；公司亦在年報中提出2025年將推出多款自製遊戲，並以AI、GaaS、經典IP、全球發行、代理國際級產品與電競化作為重點策略。成長動能包括：1. 自營營收占比高，若新作與長青遊戲維持活躍用戶，可提高經常性內購與活動收入；2. 《三國群英傳》《幻想三國誌》《神州》等自有IP可跨手機、PC、格鬥、影視、小說、漫畫與授權延伸；3. FFXIV繁中版與東方Project相關產品有利於切入台港澳星馬及ACG玩家社群；4. 公司導入AI於3D建模、動作捕捉、AI NPC、智能推薦、繪圖、程式、文本、客服、本地化翻譯與音樂工作流，有機會降低研發與營運成本；5. 全球遊戲市場朝跨平台、GaaS、AI Gaming與高品質IP化發展，符合公司自研與長線營運方向。2026至2028年展望屬推估：若2025年新作上市後留存與付費率良好，後續2至3年可透過資料片、版本更新、海外授權、IP改編與代理長線營運延續收入；若FFXIV繁中版社群營運成功，可增加代理營運收入與平台會員黏著。主要風險包括：國內市場規模有限、遊戲產品供給龐大與行銷成本升高、專業人才供需失衡、新作延期或表現不如預期、代理權與授權條件變動、匯率波動、資安與個資風險、各國遊戲法規或抽卡/付費機制監管、平台抽成與政策改變，以及自有IP老化或玩家轉移。

Supply Chain

Upstream
  • SQUARE ENIX CO., LTD. 日本上市公司，非台股；《FINAL FANTASY XIV》原廠與IP授權來源，宇峻奧汀與智寶國際聯合取得繁體中文版代理營運權。
  • 智寶國際開發股份有限公司 未上市；與宇峻奧汀共同爭取並聯合代理《FINAL FANTASY XIV》繁體中文版，屬IP代理合作夥伴。
  • 上海愛麗絲幻樂團 未上市同人社團；《東方Project》原作方，為《東方幻想ECLIPSE》題材來源。
  • CAVE Interactive Co., Ltd. 日本公司，非台股；《東方幻想ECLIPSE》日本開發與相關內容來源之一。
  • Nihon Falcom Corporation 日本公司，非台股；《英雄傳說／閃之軌跡》相關IP來源。
  • 北京飛行船軟件有限公司 中國大陸子公司；關係企業，負責遊戲軟體研發及製作。
  • Apple App Store 美國上市公司Apple之平台，非台股；手機遊戲全球上架、下載與收費通路之一。
  • Google Play 美國上市公司Alphabet之平台，非台股；手機遊戲全球上架、下載與收費通路之一。
  • Steam／Valve Corporation 美國未上市公司；PC遊戲數位銷售與發行平台之一。
Downstream
  • 個人消費者／玩家 最終用戶；透過PC、手機、網頁、平台會員、遊戲內購、訂閱或買斷方式消費。
  • USERJOY JAPAN 株式會社 日本子公司，非台股；負責日本遊戲營運與通路業務。
  • USERJOY HONG KONG CO., LTD. 香港子公司，非台股；負責香港及海外相關遊戲通路業務。
  • 甲公司 年報代號揭露客戶；2024年占宇峻奧汀銷貨19.81%，實名未公開，可能為遊戲代理或營運客戶。
  • 乙公司 年報代號揭露客戶；2024年占宇峻奧汀銷貨18.65%，實名未公開，可能為遊戲代理或營運客戶。
  • Google Play／Apple App Store／Steam等數位平台 非台股；下載、銷售、收費與海外觸及通路，年報提及公司產品經由Google、iOS、Steam等平台授權並銷售至全世界。

Competitors

Sources（10）

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.