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3686

達能 Semiconductor As of 2026-06-17 Updated daily after market close

quality needs a look, fair valuation.

1 active signal
Revenue ≥20%
This page refreshes daily after the close. Add 達能 to your watchlist to track signal changes on your next visit.
Valuation 30Quality 15Growth 72Momentum 31Chips 90

Is 達能 a buy? Fundamentals and valuation first

  • Weak profitability.Operating margin is in the 9th market percentile. Latest quarterly ROE ≈ -0.2%.

  • Valuation is neutral.PE is in the 73th market percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 10.0% of volume (net buy).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 27.9%, 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

Bullish +0.34
BearishNeutralBullish

Single-sided accumulation, concentration rising — bullish

  • Single-sided accumulation, concentration rising — bullish
  • 凱基-桃園 holds 3,123 lots
  • sellers have 326 lots left, ~127 sessions to clear

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

  • Largest holder 凱基-桃園 has accumulated 3,123 lots since the start (sold 0%), still adding.
  • Main distributor 美商高盛 peaked at 374 lots, has sold 90%, 38 left, ~127 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders +1.62pp, mid holders -2, retail +1.98pp — concentration shifting upward.
  • Foreign hedge-desk net short Net short -860 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
凱基-桃園凱基-中壢兆豐-南京兆豐-忠孝國泰-館前台灣摩根士丹利
Distributing
美商高盛摩根大通兆豐-城中富邦-陽明富邦-永和永豐金-台南
Desks
own scale
國票-安和台新-台南第一金亞東-台南
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 凱基-桃園 +3,123
    sold 0%· still adding
  • 凱基-中壢 +1,208
    sold 1%
  • 兆豐-南京 +413
    sold 0%
  • 兆豐-忠孝 +298
    sold 0%
  • 國泰-館前 +220
    sold 13%
  • 台灣摩根士丹利 +188
    sold 8%· still adding

Distributing

  • 美商高盛 38 left
    sold 90%· ~127 sessions to clear
  • 摩根大通 148 left
    sold 36%· ~31 sessions to clear
  • 兆豐-城中 40 left
    sold 76%· paused recently
  • 富邦-陽明 30 left
    sold 76%· paused recently
  • 富邦-永和 83 left
    sold 28%· paused recently
  • 永豐金-台南 16 left
    sold 83%· paused recently

Desks

  • 國票-安和 -2,091
    unclassified
  • 台新-台南 -721
    unclassified
  • 第一金 -608
    unclassified
  • 亞東-台南 -582
    unclassified
Still selling 326 lots ~127 sessions to bottom at most
Recent buy/sell force +700 absorbed / -137 sold buyers slightly ahead
Hedge-desk net short -407 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 27.88%

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

84 historical occurrences (since 2010-07-20)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 45.9%, Sample 74, Median -0.51%, Excess -1.78%, Beat mkt rate 35.1%；60-day: Win 31.5%, Sample 73, Median -4.81%, Excess -6.11%, Beat mkt rate 31.5%；120-day: Win 30.6%, Sample 72, Median -14.45%, Excess -13.54%, Beat mkt rate 16.7%

120 days after: historical avg -7.49%

20-day +0.07%
60-day -1.53%
120-day -7.49%
20-day
60-day
120-day
Win
45.9%
31.5%
30.6%
Sample
74
73
72
Median
-0.51%
-4.81%
-14.45%
Excess
-1.78%
-6.11%
-13.54%
Beat mkt rate
35.1%
31.5%
16.7%

Over 72 occurrences, 120-day forward avg declined 7.49%, lagged the market by 13.54 pts; win rate 30.6%.

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.

8 times historically; 60-day forward avg +28.84%, win rate 37.5%, beating the market by +17.44 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.

45 times historically; 60-day forward avg +3.76%, win rate 31.1%, beating the market by -1.13 pts on average.

What does 達能 do? Company profile

半導體業；公司營運重心正由電子零組件/電子材料交易轉向太陽光電系統、漁電共生與儲能相關投資合作 上市（臺灣證券交易所）

Overview

達能科技股份有限公司成立於2007年11月9日，總部位於新竹市東區慈雲路118號19樓之8，2010年7月20日上市，實收資本額新台幣764,951,180元。董事長與總經理為方震銘，發言人為湯豐帆。依113年度年報，114年3月31日員工合計9人；114年4月20日前十大主要股東包含兆興投資股份有限公司6.54%、洪玟琴1.94%、蕭惠尹1.80%、梁次震1.66%、方震銘1.46%、俞澤瓏0.88%、陳玉蓮0.70%、劉怜君0.49%、蘇筠棠0.49%、廖冠崴0.47%，合計16.41%。關係企業包含明育能源股份有限公司（達能持股100%，再生能源發電）及海利普電子科技股份有限公司（達能113年底持股20.44%，興櫃公司，代號7877，非上市櫃；主要從事再生能源發電/太陽能光電EPC、建置與運維）。

Business

公司原為太陽能多晶矽晶片製造商，2019年因太陽能矽晶圓市況惡化而退出/停產太陽能晶片製造，2021年出售觀音廠閒置資產，轉型期間以電子材料買賣維持營運。依113年度年報，營業項目為電子零組件製造、電子材料批發與零售；2024年營收新台幣82,540千元，營業比重100%為商品及服務收入，太陽能矽晶片為0；目前商品/服務項目為DRAM記憶體與電動自行車零組件。2024年主要以各大廠記憶體產品DRAM、模組DIMM與電子零組件交易為營收來源。進貨端年報僅揭露匿名甲廠商/乙廠商，2024年甲廠商占進貨淨額89.6%；銷售端主要客戶亦匿名，2024年G公司、T公司、H公司、C公司分別占銷貨淨額34.06%、30.13%、12.92%、10.42%。公司自2023年起以綠色低碳產業鏈為轉型方針，核心聚焦太陽光電與儲能案場布局，營運模式包含電子零組件交易、轉投資具競爭力企業、與策略合作夥伴共同開發案場。

Outlook 2025–2028

2025年：公司法說資料顯示2025年前二季營收39,692千元、稅後淨損12,640千元、EPS -0.17元，經營策略採穩健營運並尋求策略合作；重點為持續參與太陽能系統工程公司增資以維持20%股權、推進南部漁電共生合作開發案土地整合與申設。113年年報指出2025年太陽光電仍受土地取得、地方審查、地面型案場開發受阻、政策與基礎建設不足等挑戰影響，但AI與企業綠電需求使中長期綠能需求提高。2026年：公司法說明確期待2026年成為轉型有成的起步期，透過策略夥伴開發案及大型案場陸續開工，使獲利能見度逐漸清晰，並預期表現優於2025年；同時規劃跨入儲能運用領域。2027年：法說揭露2027年起參與複合式太陽能開發案並拓展儲能系統業務；長期策略包含光電案場、儲能系統開發、鋰電池BBU與儲能櫃系統合作投資、代理銷售及關鍵零配件組裝製造。2028年：達能本身未揭露明確2028財務指引；可觀察其轉投資海利普之太陽能EPC/在手工程能見度，但此屬轉投資收益與案場執行進度的間接受益，不宜視為達能確定營收。主要風險包含電子零組件/記憶體現貨價格波動造成低毛利交易、漁電案場土地與利害關係人協商困難、地方審查趨嚴、極端氣候推升工期與設備成本、儲能收益依賴台電標案與輔助服務市場價格、錶前儲能逐漸飽和，以及公司規模小、轉型仍需資金籌措與執行驗證。

Supply Chain

Upstream
  • 甲廠商 年報匿名揭露之主要電子零件供應商；2024年占達能進貨淨額89.6%，與公司無關係。
  • 乙廠商 年報匿名揭露之2025年前一季主要電子零件供應商之一，占該期進貨淨額48.68%，與公司無關係。
  • Samsung Electronics MoneyDJ資料指出為達能DRAM晶片主要供應來源之一；韓國上市公司，非台股上市櫃。
  • SK hynix MoneyDJ資料指出為達能DRAM晶片主要供應來源之一；韓國上市公司，非台股上市櫃。
  • Shimano MoneyDJ資料指出達能電動自行車零組件業務供應Shimano行車零件；日本上市公司，非台股上市櫃。
  • 海利普電子科技股份有限公司 達能持股約20.44%的太陽能光電EPC/再生能源投資合作夥伴；興櫃代號7877，非上市櫃，故stock_id依規則填null。
Downstream
  • G公司 年報匿名揭露之主要銷貨客戶；2024年占銷貨淨額34.06%，與公司無關係，未揭露是否上市櫃。
  • T公司 年報匿名揭露之主要銷貨客戶；2024年占銷貨淨額30.13%，與公司無關係，未揭露是否上市櫃。
  • H公司 年報匿名揭露之主要銷貨客戶；2024年占銷貨淨額12.92%，與公司無關係，未揭露是否上市櫃。
  • C公司 年報匿名揭露之主要銷貨客戶；2024年占銷貨淨額10.42%，與公司無關係，未揭露是否上市櫃；2025年前一季占銷貨淨額48.70%。
  • 台灣電力股份有限公司 太陽光電與儲能案場可能透過躉購、併網、輔助服務或電力交易平台形成下游/市場規則關係；國營事業，非上市櫃。
  • 企業購電客戶 法說資料指出太陽光電市場由台電躉購PPA逐漸轉向企業購電CPPA；達能未揭露具名企業客戶。

Competitors

  • 新晶投控 3713 MoneyDJ列為國內太陽能統包工程EPC服務同業；上櫃公司。
  • 進能服 6692 MoneyDJ列為國內太陽能統包工程EPC服務同業；上櫃公司。
  • 開陽能源 MoneyDJ原列開陽投控，後更名為開陽能源；太陽能電力系統工程、電廠投資及維運同業。
  • 泓德能源 6873 MoneyDJ列為國內太陽能統包工程EPC服務同業；上市公司，亦布局綠電、儲能與能源服務。
  • 海利普電子科技股份有限公司 達能之轉投資/合作對象，亦屬太陽能光電EPC與運維業者；興櫃代號7877，非上市櫃，故stock_id填null。
  • 台達電 2308 儲能、電力電子與能源基礎設施解決方案業者；與達能未必直接競標同一案源，但在儲能系統市場具有競爭/替代性。
  • 富威電力 6994 售電、能源管理與儲能服務業者；屬綠電/儲能服務競爭或合作生態系，興櫃/台股資料。
Sources（13）

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.