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4577

達航科技 Other Electronics 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 達航科技 to your watchlist to track signal changes on your next visit.
Valuation 19Quality 18Growth 74Momentum 54Chips 30

Is 達航科技 a buy? Fundamentals and valuation first

  • Weak profitability.Operating margin is in the 20th market percentile. Latest quarterly ROE ≈ -1.1%.

  • Valuation is neutral.PE is in the 71th market percentile.

  • Foreign investors are net selling.Foreign 20-day net flow ≈ -1.2% of volume (net sell).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 30.4%, 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

Bearish -0.53
BearishNeutralBullish

Distribution to retail — bearish

  • Distribution to retail — bearish
  • 元富-西松 holds 433 lots
  • sellers have 882 lots left, ~166 sessions to clear

Window from 2026-01-17 · Price +42% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 元富-西松 has accumulated 433 lots since the start (sold 0%), holding.
  • Main distributor 美商高盛 peaked at 785 lots, has sold 57%, 339 left, paused recently.
  • TDCC big holders (absolute) >1000-lot holders -5.04pp, mid holders -1, retail +5.20pp — drifting down to retail.
  • Foreign hedge-desk net short Net short -118 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
元富-西松國泰-敦南玉山-雙和第一金-員林國票-台中玉山-城中
Distributing
美商高盛摩根大通凱基-台北統一國票-敦北法人元富-宜蘭
Desks
own scale
富邦-內湖凱基-桃園台新-台南元大-天母
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 元富-西松 +433
    sold 0%
  • 國泰-敦南 +215
    sold 13%· still adding
  • 玉山-雙和 +92
    sold 16%
  • 第一金-員林 +81
    sold 0%
  • 國票-台中 +67
    sold 3%· still adding
  • 玉山-城中 +67
    sold 0%

Distributing

  • 美商高盛 339 left
    sold 57%· paused recently
  • 摩根大通 118 left
    sold 82%· paused recently
  • 凱基-台北 401 left
    sold 34%· ~154 sessions to clear
  • 統一 44 left
    sold 81%· paused recently
  • 國票-敦北法人 34 left
    sold 85%· paused recently
  • 元富-宜蘭 29 left
    sold 81%· paused recently

Desks

  • 富邦-內湖 -693
    unclassified
  • 凱基-桃園 -645
    unclassified
  • 台新-台南 -520
    unclassified
  • 元大-天母 -517
    unclassified
Still selling 882 lots ~166 sessions to bottom at most
Recent buy/sell force +411 absorbed / -293 sold buyers slightly ahead
Hedge-desk net short -118 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 30.42%

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

29 historical occurrences (since 2022-06-14)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 41.2%, Sample 17, Median -2.45%, Excess +1.57%, Beat mkt rate 47.1%；60-day: Win 53.3%, Sample 15, Median +9.88%, Excess +14.98%, Beat mkt rate 60%；120-day: Win 53.8%, Sample 13, Median +1.66%, Excess +27.19%, Beat mkt rate 61.5%

120 days after: historical avg +36.54%

20-day +2.13%
60-day +18.98%
120-day +36.54%
20-day
60-day
120-day
Win
41.2%
53.3%
53.8%
Sample
17
15
13
Median
-2.45%
+9.88%
+1.66%
Excess
+1.57%
+14.98%
+27.19%
Beat mkt rate
47.1%
60%
61.5%

Over 13 occurrences, 120-day forward avg gained 36.54%, beat the market by 27.19 pts; win rate 53.8%.

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 +23.7%, win rate 33.3%, beating the market by +12.1 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.

10 times historically; 60-day forward avg +9.03%, win rate 71.4%, beating the market by -0.32 pts on average.

What does 達航科技 do? Company profile

電子－其他電子業；PCB製程設備、雷射鑽孔加工與設備服務 上櫃（證券櫃檯買賣中心）

Overview

4577 對應達航科技股份有限公司，為櫃買中心上櫃普通股，非 ETF、ETN、權證或特別股。公司成立於 1991/02/25，2020/10/27 登錄興櫃，2022/06/14 轉上櫃。總部與主要廠址位於台中市大甲區日南里工一路21號。公開資訊與股市資料顯示，2026/05/25 董事改選後，董事長兼總經理為葉勝發，發言人為劉智鴻；2024/08/08 至 2026/05/25 前董事長曾為金谷保彥。實收資本額約新台幣 4.9138 億元，已發行普通股約 49,137,998 股；登記資本額資料另見新台幣 9.5 億元。員工規模方面，104 人力銀行資料列示約 180 人，Goodinfo 顯示 2025 年全體員工平均年薪約 92 萬元。主要股東與董監持股方面，2026/05 董監持股資料顯示立港投資持有約 6,670 張、約 13.57%；第十四屆董事由立港投資法人董事代表金谷保彥、葉勝發、黃立達、波多泉等出任；部分公開新聞亦顯示黃立達選任時持股約 11,068,816 股，屬重要持股人。因主要股東持股數會隨申報轉讓與月報更新變動，以上以公開資料可查者列示。

Business

達航科技深耕 PCB 產業，主要業務包括 PCB 鑽孔機、成型機、清潔機、主軸（Spindle）、零件耗材、設備維修保養、雷射鑽孔與雷射加工服務，以及自有品牌設備。公司早期投入 PCB、LCD、被動元件、半導體產業相關設備代理銷售與維修保養，近年轉向自主研發製造高精密加工設備，包括雷射鑽孔機、高精度機械鑽孔機、成型機與精密主軸。營收結構方面，MoneyDJ 與 StockFeel 等資料顯示 2024 年營收以專業服務為主，專業服務約 63%（雷射鑽孔加工、機台維護保養），設備產銷約 34% 或設備約 33.5%，其他代理收入約 3% 至 3.5%。商業模式兼具設備銷售、售後維修保養、耗材零件、雷射鑽孔代工與產能支援服務；代工服務可協助 PCB、IC 載板或高階基板廠調節產能，設備銷售則受下游資本支出循環影響較大。主要客戶與終端應用包括 PCB 廠、IC 載板廠、高階 HDI、ABF 載板、AI 伺服器、高速運算、CPO/光電共封裝、新材料封裝、FPC、陶瓷、LTCC、矽晶圓、鋼板等微細加工應用。公開新聞曾點名服務客戶包含南電、欣興、景碩。

Outlook 2025–2028

2025 至 2028 年展望以高階 PCB、AI 伺服器、IC 載板、CPO 與精密雷射加工升級為主軸。2025 年營運已較 2024 年谷底回溫，2025 年全年營收約 7.4646 億元、年增約 12.2%；2026 年前 5 月營收約 3.57388 億元、年增約 49.7%，2026 年第 1 季營收約 2.10857 億元，但仍為稅後虧損、EPS 約 -0.21 元，顯示需求復甦與獲利改善仍需觀察。成長動能包括：AI 伺服器與高速網通推升高層數、高密度、高精度 PCB 與載板製程難度；ABF、HDI、CPO、新材料封裝與探針卡等精密加工需求提升雷射鑽孔、微孔、切割、挖槽等設備與代工需求；公司在台灣與日本研發據點、中國、韓國、東南亞服務網絡，有助接觸海外客戶與支援設備售後服務。2026 至 2028 年若下游 PCB/IC 載板資本支出恢復、專業服務稼動率提高、雷射平台產品通過更多客戶驗證，營運有機會逐步改善。主要風險包括：PCB 與載板產業景氣循環大、設備訂單遞延或取消、公司近年仍處虧損且固定成本壓力高、專業服務稼動率不足會壓縮毛利、客戶集中與少數大廠資本支出變化、雷射設備與精密主軸技術競爭、海外服務與匯率風險、AI/CPO 題材若未能轉化為實際訂單可能造成市場預期落差。2027 至 2028 的量化營收與獲利未見公司正式財測，故不做數字預估。

Supply Chain

Upstream
  • 雷射光源、光學模組、CNC控制器、精密主軸零組件與設備零件供應商 公司產品涉及雷射加工機、鑽孔機、成型機與主軸，所需上游包含雷射源、光學元件、控制器、精密機械零件、軸承、伺服與耗材；公開資料未完整揭露具名供應商，故以產業供應類別列示。
  • 大船企業日本株式會社 日本公司，非台股掛牌；與達航董事成員及海外研發/技術資源具關聯，公開資料顯示金谷保彥曾任其社長、波多泉具該公司取締役經歷，但未能確認其為直接供應商。
  • 立港投資股份有限公司 未上市投資公司，非營運供應商；為達航法人董事與重要持股法人，對公司治理與控制權結構具影響。
Downstream
  • 南亞電路板股份有限公司 8046 台股上市 PCB/IC 載板廠；公開新聞曾列為達航服務客戶，屬雷射鑽孔、PCB設備與技術服務下游。
  • 欣興電子股份有限公司 3037 台股上市 PCB/IC 載板大廠；公開新聞曾列為達航服務客戶，終端應用涵蓋高階 PCB、載板與伺服器相關需求。
  • 景碩科技股份有限公司 3189 台股上市 IC 載板廠；公開新聞曾列為達航服務客戶，屬 PCB/載板加工設備與服務下游。
  • PCB、HDI、FPC、ABF載板、探針卡與半導體封裝相關客戶 公開資料顯示達航服務對象涵蓋 PCB、FLEXPCB、高分子材料、ABF樹脂、陶瓷、LTCC、矽晶圓等加工應用；多數具名客戶未完整公開。

Competitors

  • 大量科技股份有限公司 3167 台股上市 PCB 鑽孔、成型與自動化設備廠，與達航在 PCB 鑽孔/成型設備領域具競爭或替代關係。
  • 志聖工業股份有限公司 2467 台股上市電子製程設備廠，產品涵蓋 PCB、半導體及面板相關設備，與達航在電子製程設備資本支出預算上可能競爭。
  • 群翊工業股份有限公司 6664 台股上櫃 PCB 濕製程與自動化設備廠，非直接鑽孔機同業，但同屬 PCB 製程設備供應鏈競爭者。
  • 牧德科技股份有限公司 3563 台股上市 PCB 檢測與量測設備廠，與達航同受 PCB 廠資本支出循環影響，但產品線偏 AOI/檢測。
  • Hitachi Via Mechanics 日本 PCB 鑽孔與雷射加工設備供應商，非台股掛牌，為高階 PCB 鑽孔/雷射設備國際競爭者。
  • Schmoll Maschinen 德國 PCB 鑽孔、銑削與雷射設備廠，非台股掛牌，屬國際競爭者。
  • Posalux 瑞士精密鑽孔與微加工設備廠，非台股掛牌，與高精密加工設備領域競爭。
  • EO Technics 韓國雷射設備公司，非台股掛牌；在雷射微加工與半導體/電子製程設備領域具競爭性。
Sources（24）

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.