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Help me set up FinLab and analyze 3623 富晶通. Please read: https://finlab.finance/en/setup?stock=3623
3623
quality needs a look, premium valuation, no active signal today.
Is 富晶通 a buy? Fundamentals and valuation first
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Weak profitability.Operating margin is in the 30th market percentile. Latest quarterly ROE ≈ 2.1%.
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Valuation is high.PE is in the 80th market percentile; within its own history, PE is around the 88th percentile.
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Foreign investors are net selling.Foreign 20-day net flow ≈ -1.1% of volume (net sell).
Chip flow
Institutional rotation, concentration steady — bullish
Window from 2026-01-17 · Price -23% · branches to 2026-06-17· TDCC to 2026-06-12
- Largest holder 光和-高雄 has accumulated 132 lots since the start (sold 4%), still adding.
- Main distributor 美好-楊梅 peaked at 80 lots, has sold 25%, 60 left, paused recently.
- TDCC big holders (absolute) >1000-lot holders -0.12pp, mid holders +0, retail +1.30pp — drifting down to retail.
- Foreign hedge-desk net short Net short -192 lots (inferred from branch profile, mostly hedging — not necessarily bearish, not case-confirmed).
Accumulating
- 光和-高雄 +132
- 元大證券 +105
- 富邦-新竹 +92
- 台新-緯城 +77
- 華南永昌-楠梓 +63
- 華南永昌-敦南 +60
Distributing
- 美好-楊梅 60 left
- 群益金鼎-嘉義 12 left
- 凱基-板橋 8 left
- 元大-大里德芳 18 left
- 富邦-仁愛 28 left
- 臺銀-民權 12 left
Desks
- 凱基-台北 -100
- 凱基-彰化 -88
- 元大-崇德 -75
- 元大-林森 -59
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
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 | 657 | -13% | -18.8% | 22.7% | -23.8% |
| 20-40 | 219 | -21% | -19.9% | 0% | -52.5% |
| 40-60 | 82 | -18% | -17% | 0% | -125.5% |
| 60-80 | 0 | Insufficient data | |||
| 80-100 You are here | 0 | Insufficient data | |||
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 ≈ 60.26, at the 87.8th 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.
(0d)
(0d)
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.
11 times historically; 60-day forward avg +24.45%, win rate 63.6%, beating the market by +20.16 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).
43 times historically; 60-day forward avg +11.26%, win rate 56.4%, beating the market by +7.58 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.
34 times historically; 60-day forward avg +2.06%, win rate 39.4%, beating the market by -2.07 pts on average.
What does 富晶通 do? Company profile
Overview
3623 對應證券為富晶通科技股份有限公司，為上櫃普通股。公司創立於 2000 年 11 月 27 日，總部與生產基地位於桃園市龜山區華亞三路 50 號 6 樓之一，為中環集團與日本 Fujitsu Component Group 合資設立之觸控面板廠，早期技術移轉自富士通元件集團。董事長為翁明顯，總經理為蔡輔原；股票於 2010 年 4 月 28 日上櫃。依 113 年年報／永續報告書，實收資本額為新台幣 291,859,460 元，員工約 105 人，製造設施約 7,000 平方公尺且海外無設廠。主要股東方面，114 年 4 月 19 日資料顯示，中環股份有限公司持股 14,260 仟股、持股比例 48.86%，為最大股東；其餘前十大股東多為自然人或投資專戶，單一持股比例低於 2%。
Business
富晶通主要從事觸控面板產品研發、製造與銷售，產品涵蓋電阻式觸控、表面／投射式電容觸控、全平面式觸控、FF／GG／GFF 投射電容觸控，以及觸控面板與 LCM 的 Air Bonding／Optical Bonding 貼合、機構件組裝與垂直整合解決方案。113 年營業收入為新台幣 262,049 仟元，其中觸控面板 260,311 仟元、占 99.34%，其他 1,738 仟元、占 0.66%；112 年觸控面板占比亦為 99.36%，顯示營收高度集中於觸控面板。應用領域包括工業控制、人機介面、醫療檢測與螢幕、車用電腦、航空影音娛樂系統、多功能事務機、POS、PND、PMP、VoIP Phone、健身器材等。商業模式以客製化、少量多樣、利基型中大尺寸觸控面板為主，避開大量標準化消費性觸控面板的價格競爭；近年由單一觸控面板供應，逐步轉向觸控加貼合、LCM 整合、結構件組裝的一站式解決方案。年報揭露主要銷貨客戶以 A／B／C／D 客戶匿名呈現，且 112、113 年曾有單一客戶占銷貨 10% 以上；MoneyDJ 財經百科列示歷史客戶包括友達、群創、富士通、愛普生、波音與空中巴士，但年報未以具名方式確認最新客戶名單。
Outlook 2025–2028
2025 至 2028 年展望重點在產品組合升級、貼合業務擴張與工控／醫療／交通運輸等利基應用。2024 年因工業用產品及航太產品需求減少，營收年減約 28.91%，產量下降使單位成本提高並壓抑毛利；2025 年產業庫存調整後客戶拉貨逐步正常化，但新台幣升值、關稅與航太客戶延後出貨仍是獲利風險。公司短中期策略為提高玻璃與薄膜投射電容比重，推廣中大尺寸、高單價特殊應用產品，提升電容貼合、全貼合／雙面膠貼合、Touch Panel 與 LCM／結構件整合能力，並強化後製程自動化、良率與交期。MoneyDJ 2026 年報導指出，富晶通 2025 年前三季全貼合營收占比已接近 3 成，2026 年將以全貼合、投射式電容、裝飾電容感應膜、PMOLED 貼合與觸控板為成長主軸，且電阻式產品於 2025 年底逐步停產，2026 年營收結構可望更集中於電容與貼合產品。2027 至 2028 年可觀察的成長動能包括工業設備智慧化、醫療人機介面、車用／船舶／航空觸控介面、AIoT 與場域應用帶動客製化觸控需求；主要風險包括觸控面板競爭者增加、中國廠低價競爭、ITO Film 等關鍵材料仍部分仰賴日本供應、匯率與關稅波動、客戶集中、航太／工控景氣循環，以及新材料或新製程導入不如預期。
Supply Chain
- A供應商（未揭露名稱） 113 年年報揭露為覆蓋玻璃主要供應商，最近二年度曾占進貨總額 10% 以上；公司未揭露實際公司名稱。
- B供應商（未揭露名稱） 113 年年報揭露為 FPC 軟性印刷電路板主要供應商，最近二年度曾占進貨總額 10% 以上；公司未揭露實際公司名稱。
- ITO Film／ITO Glass／Cover Glass 供應商 觸控面板關鍵原料包括 ITO Film、ITO Glass、Cover Glass、FPC、導電膠、油墨、雙面膠、背膠、Lens 等；年報指出 ITO Film 關鍵技術部分掌握於日本廠商，仍有進口與匯率風險，但未揭露具名供應商。
- 中環股份有限公司 2323 最大股東與母公司，富晶通向中環租賃桃園華亞廠房；此為股權與廠房租賃關係，非年報揭露之主要原料供應商。
- A客戶／B客戶／C客戶／D客戶（未揭露名稱） 113 年年報以匿名方式揭露主要銷貨客戶，112、113 年曾有占銷貨 10% 以上客戶；需求變動與工業控制、電阻式產品、原有產品需求減少有關。
- 液晶模組廠商 年報描述電阻式 Film to Glass 觸控面板由 ITO Film、ITO Glass、FPC 等貼合後，交由下游客戶液晶模組廠商貼合在液晶模組面板表面。
- 友達光電 2409 MoneyDJ 財經百科列示之歷史客戶之一，台股上市面板廠；年報最新主要客戶以匿名揭露，故此客戶關係需以較低確定性看待。
- 群創光電 3481 MoneyDJ 財經百科列示之歷史客戶之一，台股上市面板廠；年報最新主要客戶以匿名揭露，故此客戶關係需以較低確定性看待。
- 富士通／愛普生／波音／空中巴士 MoneyDJ 財經百科列示之歷史客戶或終端客戶，屬日本或海外企業；年報最新主要客戶未具名揭露。
- 工業控制、醫療、車用、航太、船舶、交通運輸、POS、事務機等終端應用客戶 公司主要終端應用市場，產品以少量多樣、高可靠度、中大尺寸客製化觸控與貼合整合方案供應。
Competitors
- GIS-KY 業成 6456 台股上市觸控與顯示模組相關廠，MoneyDJ 以 F-GIS 列為國內競爭廠商。
- TPK-KY 宸鴻 3673 台股上市觸控解決方案廠，MoneyDJ 以 F-TPK 列為國內競爭廠商。
- 和鑫光電 3049 台股上市觸控／光電材料相關廠，MoneyDJ 列為國內競爭廠商。
- 洋華光電 3622 台股上市觸控面板相關廠，MoneyDJ 列為國內競爭廠商。
- 介面光電 3584 MoneyDJ 列為國內競爭廠商；需留意其最新掛牌／交易狀態可能已有變動。
- 歐菲光 中國上市觸控／光學相關廠，年報與 MoneyDJ 均提及中國低價競爭者。
- 萊寶高科 中國上市觸控顯示相關廠，MoneyDJ 列為國外競爭廠商。
- 信利 香港上市電子顯示與觸控相關廠，MoneyDJ 列為國外競爭廠商。
- Nissha Printing 日本上市公司，MoneyDJ 列為國外競爭廠商。
- Smart Technologies／Melfas MoneyDJ 列為國外競爭廠商；非台股掛牌。
Sources（8）
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.