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4912

聯德控股-KY Electronic Components As of 2026-06-17 Updated daily after market close

steady quality, fair valuation.

1 active signal

Revenue ≥20%

This page refreshes daily after the close. Add 聯德控股-KY to your watchlist to track signal changes on your next visit.

Is 聯德控股-KY a buy? Fundamentals and valuation first

Above-average profitability.Operating margin is in the 47th market percentile. Latest quarterly ROE ≈ 2.2%.
Valuation is neutral.PE is in the 70th market percentile; within its own history, PE is around the 94th percentile.
Foreign investors are net selling.Foreign 20-day net flow ≈ -4.9% of volume (net sell).
Strong revenue growth.Latest monthly revenue YoY ≈ 30.9%, 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

Bearish -0.31

BearishNeutralBullish

Distribution to retail — bearish

Distribution to retail — bearish
國票-台東 holds 274 lots
sellers have 433 lots left, ~25 sessions to clear

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

Largest holder 國票-台東 has accumulated 274 lots since the start (sold 0%), still adding.
Main distributor 元大證券 peaked at 550 lots, has sold 78%, 120 left, ~21 sessions to clear at the recent pace.
TDCC big holders (absolute) >1000-lot holders -0.44pp, mid holders -1, retail +2.26pp — drifting down to retail.
Foreign hedge-desk net short Net short -1,280 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

國票-台東福勝玉山證券元大-北投國票證券新光-台中

Distributing

元大證券永豐金-中正國票-敦北法人兆豐-台中永豐金-大園華南永昌-竹北

Desks

own scale

永豐金-古亭兆豐-南京凱基-台北新加坡商瑞銀

Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline

Branch details Unit: lots

Accumulating

國票-台東 +274

sold 0%· still adding
福勝 +248

sold 0%
玉山證券 +165

sold 7%· still adding
元大-北投 +134

sold 0%
國票證券 +134

sold 6%
新光-台中 +133

sold 0%

Distributing

元大證券 120 left

sold 78%· ~21 sessions to clear
永豐金-中正 146 left

sold 71%· ~5 sessions to clear
國票-敦北法人 45 left

sold 81%· paused recently
兆豐-台中 22 left

sold 88%· paused recently
永豐金-大園 17 left

sold 86%· paused recently
華南永昌-竹北 66 left

sold 44%· paused recently

Desks

永豐金-古亭 -570

unclassified
兆豐-南京 -308

unclassified
凱基-台北 -303

day-trade · selling pressure
新加坡商瑞銀 -251

hedge desk · will cover

Still selling 433 lots ~25 sessions to bottom at most

Recent buy/sell force +680 absorbed / -594 sold buyers slightly ahead

Hedge-desk net short -968 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 30.95%

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

86 historical occurrences (since 2011-06-10)

120 days after: historical avg +12.29%

20-day +3.57%

60-day +5.25%

120-day +12.29%

20-day

60-day

120-day

Win

49.4%

51.2%

57.8%

Sample

Median

-0.15%

+0.7%

+6.88%

Excess

+2.58%

+2.05%

+5.14%

Beat mkt rate

45.9%

45.2%

44.6%

Over 83 occurrences, 120-day forward avg gained 12.29%, beat the market by 5.14 pts; win rate 57.8%.

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.

0-20 +41.9%

20-40 +14.3%

40-60 +6.6%

60-80 +6.8%

80-100 +42.4% Now

PE percentile band	Sample days	240-day avg return	Median	Win rate	Avg excess (vs index)
0-20	135	+41.9%	+18.1%	99.3%	+3.9%
20-40	284	+14.3%	+7.2%	66.9%	-14.8%
40-60	608	+6.6%	-14.4%	45.6%	-6.7%
60-80	898	+6.8%	+0.5%	50.6%	-7.3%
80-100 You are here	791	+42.4%	+24.4%	71%	+28%

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 ≈ 40.55, at the 93.5th 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

-17%

Win rate 37.5% Excess -22.2%

88d

+3.5%

Win rate 56.2% Excess -3.3%

473d

+8.9%

Win rate 48.6% Excess +2.1%

933d

60-day momentum down

+14.2%

Win rate 70% Excess -6.2%

290d

+6.6%

Win rate 55.1% Excess -0.8%

594d

Now

+28.2%

Win rate 74% Excess +19.5%

458d

Currently in “Expensive (own-history top 1/3) × 60-day momentum down”: across 458 historical days, 120-day forward avg gained 28.2%, win rate 74%, beat the market by 19.5%.

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.

13 times historically; 60-day forward avg +7.28%, win rate 50%, beating the market by +4.94 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.

44 times historically; 60-day forward avg +6.08%, win rate 53.5%, beating the market by +1.81 pts on average.

What does 聯德控股-KY do? Company profile

電子零組件業；精密金屬沖壓、散熱模組、伺服器滑軌、車用零組件上市（台灣證券交易所）

Overview

4912 對應證券為聯德控股-KY，為台灣上市普通股。公司英文名 Lemtech Holdings Co., Limited，外國企業註冊地為開曼群島；成立日期為 2009/09/29，興櫃日期 2009/12/17，上櫃日期 2011/04/29，上市日期 2015/05/21。公司登記/投資人聯絡地址依 TDCC IR 平台與 Yahoo 股市資料為台北市南港區園區街3號12樓之3，電話 02-8684-1618，官網 http://www.lemtech.com。董事長為徐啓峰，總經理為余㶰橃；股務代理為中國信託商業銀行。Yahoo 股市 2026/01/17 資料列示股本 670,930,990 元、已發行普通股 67,093,099 股；Goodinfo 顯示資本額約 6.7 億元。2024 年報列示從業員工人數：2023 年 901 人、2024 年 1,108 人、截至 2025/03/31 為 987 人。主要股東依 2024 年報 2025/03/30 名單：徐啓峰 13.30%、葉航 9.05%、曾金成 7.40%、廖木 4.24%、談勇 3.35%、廖文彥 1.81%、廖文毅 1.61%、大通託管 JP 摩根證券有限公司投資專戶 1.56%、貝蕙芳 1.54%、匯豐（台灣）商業銀行股份有限公司受託保管帳戶 1.43%。集團主要營運與製造據點包含台灣、中國昆山/常熟/天津/惠州、捷克、美國、墨西哥、泰國、馬來西亞等子公司或據點；其中中國大陸廠區為傳統主要生產基地，墨西哥、泰國、馬來西亞為因應客戶在地化與去中國化/NCNT 需求的新產能布局。

Business

聯德控股主要從事精密金屬沖壓零組件的研發、生產與銷售，核心能力包括精密模具設計、沖壓成形、自動化組裝、散熱模組與滑軌製造。2024 年報描述主要產品包括電子產品散熱模組、電子產品零組件、汽車零組件、互聯健身設備組裝件，並為汽車與電子產品生產廠家提供沖壓模具配套；產品多為依客戶需求訂製的標準化或非標準化零組件。2024 年營收淨額 5,799,711 仟元，產品別營收比重為汽車零組件 3,044,918 仟元、52.50%；電子零組件 2,318,248 仟元、39.97%；互聯健身器材 288,955 仟元、4.98%；其他 147,590 仟元、2.55%。主要產品用途包含：電子零組件類如電腦/散熱器相關機構沖壓件、伺服器滑軌、雲端運算與智慧設備相關金屬件、手機內機構零件、均熱板；汽車零組件類如安全氣囊、安全帶扣環、發動機、轉向系統、汽車天窗、車門鉸鏈、座椅支架、電動車相關金屬件；互聯健身器材類為數位健身訓練設備組裝件。商業模式以 B2B 客製化零組件、模具與模組供應為主，依客戶專案開發、打樣、認證後量產出貨。2024 年前 3 大客戶以匿名 J 公司、Z 公司、A 公司揭露，分別占 2024 年銷貨淨額 13.86%、11.50%、10.25%，顯示仍有一定客戶集中度；年報亦揭露目標客戶多為北美、歐洲、亞洲跨國公司客戶，並曾取得全球最大汽車安全系統生產商 Autoliv 相關供應商獎項與 BorgWarner 2020 年優秀供應商、2023 年全球卓越營運獎、2024 年亞太營運獎等肯定。2025 年全年合併營收依 Yahoo 股市月營收資料為 6,322,525 仟元，較 2024 年 5,799,711 仟元成長 9.01%；2026 年 1-5 月單月營收維持約 5.34 億至 6.53 億元區間。

Outlook 2025–2028

2025 至 2028 年展望以車用零組件、AI/雲端伺服器散熱與滑軌、全球在地化產能為主軸。成長動能一：汽車與電動車零組件。年報指出集團汽車與精密沖壓部門預期受惠墨西哥、泰國新廠於 2025 年第二季投入營運，並聚焦電動車零組件、模組組裝、輕量化材料、熱管理解決方案；2024 年中國新能源車銷量高成長，2025 年中國汽車與新能源車仍被預期成長，對電池包、電機殼體、底盤、安全系統與熱管理沖壓件形成中長期需求。成長動能二：AI 伺服器、水冷散熱與滑軌。年報明確提及將加強 HPC、資料中心散熱解決方案研發，投資液體冷卻系統與先進散熱模組；聯德自 2017 年以來與伺服器 Tier one 品牌廠有業務往來，新一代伺服器滑軌產品規劃 2025 年開始批量生產並於 2025Q3 放量鋪貨，CSP 客戶高 U 數 6U/7U 滑軌仍在 RFQ/打樣測試階段。AI 伺服器功耗提升使水冷、液冷、均溫板、滑軌結構件、散熱模組需求提高，若客戶驗證與量產順利，2026-2028 年具備延續成長機會。成長動能三：NCNT 與全球產能。年報與新聞資料顯示公司在墨西哥、泰國、馬來西亞布局以回應美系客戶與關稅/地緣政治要求；馬來西亞廠規劃伺服器滑軌與散熱模組產能，墨西哥與泰國有利服務北美及東南亞車用/電子客戶。成長動能四：低軌衛星。聯合新聞網 2026 年報導指出公司供貨低軌衛星碟型天線與散熱器，近年出貨金額約 3-4 億元，並已在墨西哥與泰國廠區量產相關產品；此項仍屬媒體資訊，需以公司後續公告驗證。主要風險：客戶集中度偏高且前 3 大客戶合計超過三成；AI 伺服器水冷/滑軌新品需通過客戶驗證，若良率、認證或放量時程延後會影響營收；金屬原料如銅、鋁、鐵、不鏽鋼價格波動；全球關稅與地緣政治造成客戶拉貨節奏變動；伺服器與車用零組件競爭者多，可能有價格競爭與毛利壓縮；新廠初期稼動率、人工與管理成本可能拖累獲利；匯率涉及人民幣、美元、捷克克朗、馬幣、泰銖、墨西哥比索等。

Supply Chain

Upstream

銅、鋁、鐵、不鏽鋼及特殊材料供應商（未具名）主要原料來源；2024 年報揭露以中國國內採購為主，對銅、鐵、鋁等主要材料多維持兩家以上供應商，未有單一供應商達進貨淨額 10%以上。
模具、沖壓與自動化設備供應商（未具名）供應精密沖壓、模具開發、檢測與自動化生產所需設備；年報未揭露具名重大供應商。
表面處理與加工協力廠（未具名）精密金屬零件常需表面處理、加工與檢測協力；年報關係企業中有鎮江市聯創表面處理科技有限公司等非台股掛牌企業，但未揭露為外部供應商。

Downstream

J 公司 2024 年第一大客戶，銷貨金額 803,678 仟元，占銷貨淨額 13.86%；公司依年報以代號匿名揭露，未揭露是否上市或實際名稱。
Z 公司 2024 年第二大客戶，銷貨金額 666,701 仟元，占銷貨淨額 11.50%；公司依年報以代號匿名揭露。
A 公司 2024 年第三大客戶，銷貨金額 594,640 仟元，占銷貨淨額 10.25%；公司依年報以代號匿名揭露。
Autoliv 汽車安全系統客戶/下游應用關係；年報提及公司多次獲全球最大汽車安全系統生產商瑞典 Autoliv 供應商獎項，Autoliv 為海外上市公司，非台股。
BorgWarner 車用零組件客戶/下游應用關係；年報提及取得 BorgWarner 2020 年優秀供應商、2023 年全球卓越營運獎、2024 年亞太營運獎，BorgWarner 為美國上市公司，非台股。
伺服器 Tier one 品牌廠與 CSP 客戶（未具名）伺服器滑軌、散熱模組、AI 資料中心水冷產品之下游客戶；年報僅以 Tier one 品牌廠與 CSP 客戶描述，未揭露實際名稱。
低軌衛星客戶（媒體稱大客戶，未具名）碟型天線與散熱器應用；聯合新聞網報導公司應大客戶要求在墨西哥與泰國量產低軌衛星相關產品，實際客戶名稱未由公司公開確認。

Competitors

川湖 2059 台股上市；伺服器滑軌龍頭，與聯德在伺服器滑軌領域具競爭/替代關係。年報亦揭露聯德滑軌與川湖公司曾有訴訟案件。
勤誠 8210 台股上市；伺服器機殼與機構件供應商，與聯德在伺服器結構件、資料中心硬體供應鏈具部分重疊。
晟銘電 3013 台股上市；機殼、機構件與伺服器相關產品供應商，與聯德電子/伺服器金屬件應用具競爭關係。
迎廣 6117 台股上市；伺服器機殼、電源與系統相關產品，屬資料中心硬體與機構件供應鏈競爭者。
奇鋐 3017 台股上市；散熱模組與伺服器散熱供應商，與聯德在 AI 伺服器散熱、液冷/熱管理市場具競爭或同供應鏈關係。
雙鴻 3324 台股上櫃；散熱模組、液冷與高階伺服器散熱供應商，與聯德散熱模組/水冷應用具競爭關係。
健策 3653 台股上市；散熱、導線架與高階金屬製程供應商，部分高階散熱與金屬件應用與聯德有競爭或替代關係。
貿聯-KY 3665 台股上市；車用、伺服器、工業與連接線束/模組供應商，與聯德同受惠車用與資料中心供應鏈，但產品線不完全相同。

Sources（11）

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.