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4702

中美實 Home & Living As of 2026-06-17 Updated daily after market close

quality needs a look, discounted valuation.

1 active signal
Revenue ≥20%
This page refreshes daily after the close. Add 中美實 to your watchlist to track signal changes on your next visit.
Valuation 92Quality 33Growth 92Momentum 27Chips 75

Is 中美實 a buy? Fundamentals and valuation first

  • Weak profitability.Operating margin is in the 6th market percentile. Latest quarterly ROE ≈ 2.5%.

  • Valuation is low.PE is in the 2th market percentile; within its own history, PE is around the 5th percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 4.4% of volume (net buy).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 107.6%, 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 -0.29
BearishNeutralBullish

Distribution to retail — bearish

  • Distribution to retail — bearish
  • 永豐金-新店 holds 214 lots
  • sellers have 84 lots left, ~40 sessions to clear

Window from 2026-01-17 · Price +1% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 永豐金-新店 has accumulated 214 lots since the start (sold 0%), holding.
  • Main distributor 凱基-台北 peaked at 97 lots, has sold 29%, 69 left, paused recently.
  • TDCC big holders (absolute) >1000-lot holders -3.04pp, mid holders +0, retail +1.65pp — drifting down to retail.
  • Foreign hedge-desk net short Net short -63 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
永豐金-新店統一-中壢富邦-台南元大-板橋富邦證券元大-敦南
Distributing
凱基-台北玉山-城中台新-西松摩根大通新光-台中凱基-台中
Desks
own scale
凱基-長庚永豐金-敦南台新證券合庫-台中
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 永豐金-新店 +214
    sold 0%
  • 統一-中壢 +210
    sold 0%· still adding
  • 富邦-台南 +200
    sold 0%· still adding
  • 元大-板橋 +146
    sold 0%· still adding
  • 富邦證券 +143
    sold 0%
  • 元大-敦南 +115
    sold 0%

Distributing

  • 凱基-台北 69 left
    sold 29%· paused recently
  • 玉山-城中 50 left
    sold 25%· ~29 sessions to clear
  • 台新-西松 34 left
    sold 48%· paused recently
  • 摩根大通 22 left
    sold 59%· paused recently
  • 新光-台中 29 left
    sold 42%· paused recently
  • 凱基-台中 6 left
    sold 87%· paused recently

Desks

  • 凱基-長庚 -1,356
    unclassified
  • 永豐金-敦南 -162
    unclassified
  • 台新證券 -157
    unclassified
  • 合庫-台中 -95
    unclassified
Still selling 84 lots ~40 sessions to bottom at most
Recent buy/sell force +711 absorbed / -92 sold buyers slightly ahead
Hedge-desk net short -5 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 107.59%

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

78 historical occurrences (since 2007-04-23)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 45.1%, Sample 71, Median -3.23%, Excess +0.45%, Beat mkt rate 39.4%；60-day: Win 50.7%, Sample 71, Median +0.39%, Excess +4.2%, Beat mkt rate 40.8%；120-day: Win 50.7%, Sample 69, Median +1.39%, Excess +4.76%, Beat mkt rate 47.8%

120 days after: historical avg +8.58%

20-day +0.32%
60-day +6.88%
120-day +8.58%
20-day
60-day
120-day
Win
45.1%
50.7%
50.7%
Sample
71
71
69
Median
-3.23%
+0.39%
+1.39%
Excess
+0.45%
+4.2%
+4.76%
Beat mkt rate
39.4%
40.8%
47.8%

Over 69 occurrences, 120-day forward avg gained 8.58%, beat the market by 4.76 pts; win rate 50.7%.

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 You are here283-0.8% -0.4% 49.1% -15.2%
20-40 239-4% -4.7% 20.9% -21.6%
40-60 296-12% -15.5% 12.8% -24.8%
60-80 160-11.8% -20.2% 16.9% -55.1%
80-100 55+17% +17.2% 100% -1.5%

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 ≈ 6.69, at the 4.9th percentile of its own history (0-20 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
-3.8%
Win rate 42.1% Excess -7.2%
195d
-7.2%
Win rate 22.1% Excess -17.7%
199d
+7.2%
Win rate 59.3% Excess -12.2%
113d
60-day momentum down
Now
+1.6%
Win rate 45.7% Excess -3.8%
256d
-0.3%
Win rate 45.6% Excess -13.9%
248d
-9.3%
Win rate 8.5% Excess -39.2%
142d

Currently in “Cheap (own-history bottom 1/3) × 60-day momentum down”: across 256 historical days, 120-day forward avg gained 1.6%, win rate 45.7%, lagged the market by 3.8%.

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.

10 times historically; 60-day forward avg +2.21%, win rate 30%, beating the market by +2.29 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.

18 times historically; 60-day forward avg -3.85%, win rate 23.5%, beating the market by -8.52 pts on average.

What does 中美實 do? Company profile

居家生活；染料貿易、汽車貿易與轉投資 上櫃

Overview

中美聯合實業股份有限公司成立於1964年1月9日，股票代號4702，為櫃買中心上櫃普通股，掛牌日為1995年4月21日。總部位於台北市大安區敦化南路二段76號12樓。董事長為王宣懿，總經理為廖椿沄，發言人為王志國。實收資本額為新台幣723,332,000元，普通股發行股數72,333,200股。依113年度年報，截至2025年3月31日員工約20人；113年度員工22人。主要股東方面，2025年4月14日主要股東包括香港商金鷹國際貿易有限公司持股30,822,492股、持股42.61%，國基投資股份有限公司持股3.33%，侯正着持股3.22%，其餘主要股東包含廖枝益、鄭瑞原、謝秀環、田昌熾、承馳股份有限公司、郭開元、劉梅英等。公司歷史上原從事香菸濾頭、尼龍與聚酯纖維製造銷售，1979年起投入分散性染料，近年已由加工製造轉型為貿易業務與轉投資並行。

Business

公司目前主要商品與業務包括分散性染料、反應性染料、酸性染料、鹽基性染料、染整助劑、食品添加劑、食品與百貨批發，以及汽車貿易。113年度營收為新台幣179,599仟元，其中染料83,321仟元、占46%，汽車96,278仟元、占54%；112年度營收為513,233仟元，其中染料18%、汽車82%。公司主要從事染料買賣，並未有生產製造；分散性染料用於醋酸及聚酯等合成纖維染色與印花，酸性染料用於尼龍、羊毛、絲等纖維，反應性染料用於棉纖維。銷售區域以外銷為主，113年度外銷176,691仟元、占98.38%，其中亞洲地區150,037仟元、占83.54%，美洲23,300仟元、占12.97%，國內地區2,908仟元、占1.62%。染料商業模式為向中國大陸、印度及其他供應來源採購或委外代工，搭配自有品牌、配方、品質控管與技術服務，透過海外代理與在地服務銷售給染整、紡織及成衣供應鏈。汽車貿易曾以自美國平行輸入高級房車至中國市場為主，客戶以中國企業公司行號為主，但公司與第三方法說摘要均指出2025年起已暫停主要汽車貿易業務，營收規模下降但毛利率改善。轉投資方面，公司間接投資晶實科技（Studio A），Studio A為蘋果產品經銷通路之一；近年營運重心逐步提高轉投資與財務操作比重。

Outlook 2025–2028

2025至2028年展望可分為染料本業、汽車貿易退場後的結構調整、以及轉投資三條主線。染料本業方面，公司年報指出國內染整因成本與環保因素外移，國內需求成長有限；海外市場則以非洲、中東、孟加拉、越南、印尼等地紡織染整與成衣供應鏈為成長區，海外市場占染料營收八成以上。功能性與環保型染料需求，例如高水洗牢度、高日曬牢度、戶外布料、機能衣、汽車內飾、窗簾、沙發布、帳篷等應用，將是較有利基的產品方向。公司策略包括加強技術服務、提高代理經銷商在地庫存與售後服務、避開低價傳統染料競爭、增加反應性與酸性染料銷售，並以大陸具認證染料廠OEM或委外代工降低成本。汽車貿易方面，113年度汽車營收占54%，但公司年報已說明113年度起汽車貿易業務趨緩，主要受中國經濟衰退影響；第三方法說摘要指出2025年起暫停汽車貿易，原因包含中國市場關稅、能源政策、電動車興起與奢侈稅等因素壓抑高價豪華車需求。此舉將壓低營收規模，但可能提高毛利率與降低低毛利業務波動。轉投資方面，113年報曾揭露2025年3月7日董事會通過擬以新台幣150,000,000元合資設立創業投資及管理顧問子公司，聚焦高新科技、生技醫材與民生消費等優質企業；但2026年3月13日公司公告因考量集中資源發展與策略調整，決議取消設立子公司，並稱對財務及業務無重大影響。因此2026至2028年的投資成長性仍取決於既有轉投資、財務操作、是否另行提出新投資載體，以及被投資事業獲利與股利貢獻。近期財務上，114年度合併營收68,979仟元、EPS 0.88元；115年第一季營收24,332仟元、稅後淨利32,288仟元、EPS 0.45元；115年1至5月合併營收32,066仟元，顯示停止或縮減汽車貿易後營收基期已大幅降低。主要風險包括染料市場低價競爭、環保認證與合規成本、海外關稅與匯率波動、下游客戶外移造成交期與庫存管理壓力、汽車貿易退出後營收缺口、轉投資評價與流動性風險，以及公司規模小導致單一投資或業外損益對獲利影響較大。2027至2028沒有公司可查證量化指引，以上為根據既有公告與產業趨勢之推估。

Supply Chain

Upstream
  • A&J 112年度曾為占進貨淨額10%以上供應商；公司年報僅揭露代稱，未能確認是否為上市櫃公司。
  • DWPC 112年度及113年度曾為占進貨淨額10%以上供應商；公司年報僅揭露代稱，未能確認是否為上市櫃公司。
  • 伊諾凱 113年度主要進貨供應商之一，占進貨淨額21.66%；未確認為台股上市櫃公司。
  • 卓越化工 113年度主要進貨供應商之一，占進貨淨額11.62%；未確認為台股上市櫃公司。
  • 中國大陸及印度染料、中間體與基本化工原料供應商 年報指出染料生產大多來自中國大陸，少部分來自印度；基本化工原料主要來自當地石化上游大廠，染料中間體供應廣泛。
  • 具認證之中國大陸染料OEM廠 公司因應低價競爭與成本壓力，將部分產品改由具認證的大陸染料廠OEM或委外代工。
  • 美國豪華汽車供應來源 汽車貿易曾以自美國平行輸入Benz、BMW等高級房車至中國市場為主；汽車品牌本身多為海外上市或非台股公司。
Downstream
  • 海外染整廠與成衣供應鏈 公司染料主要銷往海外染整與成衣相關客戶；年報指出客戶遍及日本、歐洲、東南亞、中南美及中東。
  • 東南亞紡織染整客戶 越南、印尼、孟加拉等地受紡織成衣產能移轉影響，為公司重新拓展與成長重點市場；多數為海外或未上市客戶。
  • 非洲與中東染整市場客戶 埃及、阿爾及利亞、孟加拉、伊朗、巴基斯坦等地被公司列為具商機之海外市場；未揭露具名客戶。
  • 國外代理經銷商 公司以長期合作之外國代理商提供當地庫存、售後服務與技術服務，作為海外銷售網路。
  • 中國企業公司行號汽車貿易客戶 汽車貿易主要客戶曾以中國企業公司行號為主；113年起汽車貿易趨緩，2025年起主要汽車貿易業務暫停。
  • 晶實科技（Studio A） 公司透過轉投資關係參與蘋果產品經銷通路，Studio A據點涵蓋台灣、香港及中國大陸；非台股上市櫃公司。

Competitors

  • 永光化學 1711 台股上市公司，染料、特用化學與電子化學品廠，為國內染料競爭同業之一。
  • 福盈科 1787 台股上櫃公司，紡織助劑、染整化學品與特用化學品相關，屬染整供應鏈競爭同業。
  • 大恭 4706 台股上櫃公司，顏料、染料與相關化學品業者，與中美實在染顏料領域具可比性。
  • 雙鍵 4764 台股上市公司，特用化學品、螢光增白劑與相關材料，部分應用與紡織染整供應鏈相近。
  • 汎德永業 2247 台股上市公司，BMW、MINI、Porsche等豪華車經銷商；中美實汽車貿易曾涉及豪華車平行輸入，屬汽車銷售端可比業者。
  • 裕日車 2227 台股上市公司，Nissan與Infiniti等汽車銷售代理；MoneyDJ列為國內汽車銷售競爭公司。
  • 和泰車 2207 台股上市公司，Toyota、Lexus等汽車代理與銷售龍頭；MoneyDJ列為國內汽車銷售競爭公司。
  • 浙江龍盛 中國A股上市染料大廠，非台股上市櫃；為海外染料競爭同業。
  • 安諾其 中國A股上市染料與數位印花相關公司，非台股上市櫃；為海外染料競爭同業。
  • 閏土股份 中國A股上市染料與化工公司，非台股上市櫃；為海外染料競爭同業。
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.