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3597

映興 Electronic Components As of 2026-06-17 Updated daily after market close

quality needs a look, premium valuation.

1 active signal
Revenue ≥20%
This page refreshes daily after the close. Add 映興 to your watchlist to track signal changes on your next visit.
Valuation 36Quality 34Growth 70Momentum 60Chips 48

Is 映興 a buy? Fundamentals and valuation first

  • Weak profitability.Operating margin is in the 37th market percentile. Latest quarterly ROE ≈ 0.6%.

  • Valuation is high.PE is in the 91th market percentile; within its own history, PE is around the 95th percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 0.2% of volume (net buy).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 26.4%, 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

Neutral +0.10
BearishNeutralBullish

Institutional rotation, concentration steady — neutral

  • Institutional rotation, concentration steady — neutral
  • 合庫-西台中 holds 279 lots
  • sellers have 114 lots left, ~60 sessions to clear

Window from 2026-01-17 · Price -4% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 合庫-西台中 has accumulated 279 lots since the start (sold 0%), still adding.
  • Main distributor 凱基-城中 peaked at 70 lots, has sold 71%, 20 left, paused recently.
  • TDCC big holders (absolute) >1000-lot holders -0.51pp, mid holders +0, retail -0.16pp — little change.
  • Foreign hedge-desk net short Net short -81 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
合庫-西台中凱基-台南致和-府前永豐金-桃園台中銀康和-石牌
Distributing
凱基-城中台新-城東合庫-台中第一金-自由第一金-台南凱基-中山
Desks
own scale
富邦-虎尾國泰-台中凱基-內湖凱基-台北
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 合庫-西台中 +279
    sold 0%· still adding
  • 凱基-台南 +114
    sold 21%· still adding
  • 致和-府前 +100
    sold 12%
  • 永豐金-桃園 +84
    sold 10%· still adding
  • 台中銀 +72
    sold 0%· still adding
  • 康和-石牌 +66
    sold 0%· still adding

Distributing

  • 凱基-城中 20 left
    sold 71%· paused recently
  • 台新-城東 24 left
    sold 60%· ~15 sessions to clear
  • 合庫-台中 20 left
    sold 35%· paused recently
  • 第一金-自由 13 left
    sold 58%· ~33 sessions to clear
  • 第一金-台南 20 left
    sold 33%· ~20 sessions to clear
  • 凱基-中山 15 left
    sold 40%· paused recently

Desks

  • 富邦-虎尾 -119
    unclassified
  • 國泰-台中 -94
    unclassified
  • 凱基-內湖 -81
    unclassified
  • 凱基-台北 -78
    day-trade · selling pressure
Still selling 114 lots ~60 sessions to bottom at most
Recent buy/sell force +282 absorbed / -108 sold buyers slightly ahead
Hedge-desk net short -1 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)

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 26.38%

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

34 historical occurrences (since 2020-03-09)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 57.7%, Sample 26, Median +2.48%, Excess -0.56%, Beat mkt rate 38.5%；60-day: Win 48%, Sample 25, Median -0.61%, Excess -1.32%, Beat mkt rate 32%；120-day: Win 48%, Sample 25, Median -3.96%, Excess -9.36%, Beat mkt rate 24%

120 days after: historical avg +0.92%

20-day +0.5%
60-day +3.05%
120-day +0.92%
20-day
60-day
120-day
Win
57.7%
48%
48%
Sample
26
25
25
Median
+2.48%
-0.61%
-3.96%
Excess
-0.56%
-1.32%
-9.36%
Beat mkt rate
38.5%
32%
24%

Over 25 occurrences, 120-day forward avg gained 0.92%, lagged the market by 9.36 pts; win rate 48%.

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 60+12.9% +3.1% 78.3% -24.6%
20-40 89+17.7% +14.3% 76.4% -19.1%
40-60 54+1.6% +1.7% 55.6% -98.2%
60-80 16Insufficient data
80-100 You are here320+17.9% +7.3% 61.6% -3%

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 ≈ 111.67, at the 95.2th 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
-10.6%
Win rate 0% Excess -17.2%
68d
Insufficient data
(13d)
Now
+6.1%
Win rate 47.5% Excess -4.5%
295d
60-day momentum down
+4.3%
Win rate 75.5% Excess -13.7%
53d
+6.5%
Win rate 86.7% Excess -24.7%
98d
+14.6%
Win rate 77.9% Excess -14.4%
122d

Currently in “Expensive (own-history top 1/3) × 60-day momentum up”: across 295 historical days, 120-day forward avg gained 6.1%, win rate 47.5%, lagged the market by 4.5%.

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.

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.

6 times historically; 60-day forward avg +7.37%, win rate 33.3%, beating the market by +0.57 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.

13 times historically; 60-day forward avg +10.32%, win rate 69.2%, beating the market by +0.72 pts on average.

What does 映興 do? Company profile

電子零組件業；連接器、連接線束模組、感測/保護元件代理與系統整合 櫃買中心上櫃

Overview

3597 對應證券為映興電子股份有限公司，英文名 Avertronics INC.，為櫃買中心上櫃之普通股，產業類別為電子零組件業。公司成立於 1986 年 11 月 29 日，前身以電子元件代理銷售起家，總部位於台中市南屯區台中工業區 19 路 10 號；2008 年興櫃，2020 年 3 月 9 日正式上櫃。董事長兼總經理為賴柄源；發言人為林宜嫻。官方年報列示 2025 年底/2026 年初實收資本相關普通股約 39,236,440 股，普通股每股面額新台幣 10 元，對應股本約新台幣 3.9236 億元；2025 年集團合併營收新台幣 860,478 仟元、稅後純益 13,315 仟元、EPS 0.34 元，營收較 2024 年成長 16.57%。截至 2026 年 2 月 28 日員工 276 人，平均年齡 40.30 歲、平均服務年資 7.6 年。全球據點包括台灣台中營運總部、台北辦事處、中國昆山/深圳/上海、泰國北欖府、美國加州安大略；年報並提及海外 3 座工廠為台灣台中、中國昆山、泰國北欖府。2025 年 3 月 28 日主要股東包括賴柄源 18.13%、林宜嫻 10.83%、進鎰投資 10.68%、隆融投資 7.30%、達隆投資 4.84%、悅盛投資 3.15%、賴琮運 2.89%、賴鈺蓁 2.66%、賴貞諭 2.04%、花旗託管柏克萊資本 SBL/PB 投資專戶 1.76%。

Business

映興定位為連接器與連接線束模組之設計、開發、製造組裝與整合服務商，主要產品/服務可分為三塊：1.連接線束模組：OEM/ODM/OBM/JDM 線束模組、OBM 防水連接器加線束、ODM 連接器加線束、客製化防水及高功率連接器，應用於車載電子、工業應用、移動載具、綠能儲能與 AI 伺服器。2.代理元件/連接器件：代理或銷售馬達保護器、壓力傳感器、溫度開關、斷路器、矽膠電線、汽機車高低壓電線、AI 伺服器 PSU/PDU 插座、大電流連接器等；官方網站列示代理品牌包括 Sensata Technologies、KURABE、Anderson Power。3.系統產品服務：移動式太陽能車、BBU/UPS 電控盤配盤、半導體設備控制盤配盤、電力系統工程施工承攬、儲能系統與系統工程。MoneyDJ 彙整之 2024 年產品營收比重為線束模組 69%、保護/感測元件代理銷售 17%、連接元件代理銷售 7%、其他 7%；公司年報 2025 年銷售地區為內銷 45.97%、中國大陸 45.85%、泰國 5.04%、菲律賓 0.86%、越南 0.94%、其他 1.34%。2025 年年報列示前兩大銷貨客戶以 A 公司、B 公司匿名揭露，分別占銷貨淨額 41.53% 與 10.57%；因此主要客戶集中於少數大型系統/設備廠，但官方未揭露名稱。公司商業模式包含元件代理、委託製造加工、委託設計代工、自有品牌 AVIN 產品、以及 AVINsys 系統整合工程。

Outlook 2025–2028

2025-2028 展望以五大應用 AIMES 為主軸：Automotive 車載電子、Industrial 工業應用、Mobility 移動載具、Energy 綠能儲能、Server/AI Server。成長動能包括：1.車載與移動載具：公司已投入 20A/30A/40A、60A/80A、100A/120A/150A、200A、350A 等防水/大電流連接器，並布局電動自行車、二輪/三輪電動摩托車、船舶、無人機等三電系統線束與防水連接器；年報指出 2025-2026 年 CASE 車用趨勢中，高壓電力分配與高速資料交換為關鍵。2.工業自動化與機器人：公司 2017 年投入市場，至 2020 年取得國內多家上市櫃公司工業機器人訂單，並於 2024 年由自動化設備線束延伸至設備控制盤配盤。3.綠能儲能：移動式太陽能智慧儲能系統、儲能電池、BBU/UPS、備用電源櫃、太陽能車與電控盤配盤為重點；公司規劃 2026-2029 年打底 AVINsys，擴展至機水電、消防、弱電、空調、智慧建築與綠建築系統工程。4.AI 伺服器/資料中心：公司代理 Anderson Power APP 連接器並提供 PSU/PDU 插座、Saf-D-Grid、PDU/PSU 電源線與高功率連接方案；年報引用伺服器與 AI 加速伺服器需求成長，並將伺服器業務延伸至 Data Center Turn Key 服務列為中期方向。5.全球布局：台灣、中國、泰國、美國據點有助於分散中美貿易、關稅與區域在地服務風險。主要風險與挑戰包括：技術門檻提高與價格競爭加劇，中國連接器廠低價競爭，原材料外購比重高與供應鏈缺料/交期風險，客戶終端需求趨緩與庫存調整，關稅、匯率、通膨及金屬價格上漲，前兩大客戶占比超過 50% 造成的訂單集中風險，以及泰國廠營運/產能利用與跨國管理風險。2026-2028 的具體財務預測公司未公開，本欄僅依年報、法說簡報與產業趨勢推估。

Supply Chain

Upstream
  • Sensata Technologies 主要代理/供應商之一；2025 年年報列示 SENSATA 集團占進貨淨額 24.47%，公司網站亦列為代理品牌；美國上市公司，非台股。
  • KURABE 官方網站列為代理品牌，供應耐熱與功能性電線；日本公司，非台股。
  • Anderson Power 官方網站列為代理品牌，供應大功率連接器與 AI 伺服器/資料中心連接方案；非台股。
  • 蘇州惠科銘盛 2025 年年報列示為第二大進貨供應商，占進貨淨額 6.00%；中國供應商，非台股。
  • 浙江三科線纜 2024 年年報比較期列示之主要供應商之一；中國供應商，非台股。
  • 健和興端子股份有限公司 3003 公司上櫃前簡報產業上下游列為上游端子/連接器相關供應鏈廠商；台股上市公司。
  • 宏致電子股份有限公司 3605 公司上櫃前簡報產業上下游列為上游端子/連接器相關供應鏈廠商；台股上市公司。
  • 萬泰科技股份有限公司 6190 公司上櫃前簡報產業上下游列為線材相關供應鏈廠商；台股上櫃公司。
Downstream

Competitors

Sources（15）

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.