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4923

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

quality needs a look, premium valuation.

2 active signals
252d high Revenue ≥20%
This page refreshes daily after the close. Add 力士 to your watchlist to track signal changes on your next visit.
Valuation 15Quality 27Growth 65Momentum 81Chips 45

Is 力士 a buy? Fundamentals and valuation first

  • Weak profitability.Operating margin is in the 19th market percentile. Latest quarterly ROE ≈ 0.8%.

  • Valuation is high.PE is in the 86th market percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 0.0% of volume (net buy).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 20.4%, above the 20% growth threshold.

  • Signals are active now.On the latest data, signals such as 252-day price high, Revenue YoY ≥ 20% are active — see the historical forward returns after each occurrence below.

Chip flow

Bearish -0.36
BearishNeutralBullish

Distribution, concentration falling — bearish

  • Distribution, concentration falling — bearish
  • 大昌-樹林 holds 758 lots
  • sellers have 617 lots left, ~122 sessions to clear

Window from 2026-01-17 · Price +46% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 大昌-樹林 has accumulated 758 lots since the start (sold 0%), still adding.
  • Main distributor 元大-竹科 peaked at 289 lots, has sold 40%, 172 left, ~15 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders -4.25pp, mid holders +2, retail +0.39pp — little change.
  • Foreign hedge-desk net short Net short -262 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
大昌-樹林凱基-城中華南永昌-竹北華南永昌-潮州(牛牛牛)亞-鑫豐元大-華山
Distributing
元大-竹科港商野村第一金-新興華南永昌新光第一金-豐原
Desks
own scale
群益金鼎-館前宏遠證券台新-敦南國泰-敦南
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 大昌-樹林 +758
    sold 0%· still adding
  • 凱基-城中 +692
    sold 5%
  • 華南永昌-竹北 +230
    sold 8%
  • 華南永昌-潮州 +197
    sold 0%· still adding
  • (牛牛牛)亞-鑫豐 +145
    sold 9%
  • 元大-華山 +82
    sold 0%

Distributing

  • 元大-竹科 172 left
    sold 40%· ~15 sessions to clear
  • 港商野村 47 left
    sold 71%· ~4 sessions to clear
  • 第一金-新興 68 left
    sold 54%· ~38 sessions to clear
  • 華南永昌 45 left
    sold 69%· paused recently
  • 新光 49 left
    sold 55%· ~123 sessions to clear
  • 第一金-豐原 77 left
    sold 26%· ~29 sessions to clear

Desks

  • 群益金鼎-館前 -982
    unclassified
  • 宏遠證券 -456
    unclassified
  • 台新-敦南 -366
    unclassified
  • 國泰-敦南 -185
    day-trade · selling pressure
Still selling 617 lots ~123 sessions to bottom at most
Recent buy/sell force +1,468 absorbed / -442 sold buyers slightly ahead
Hedge-desk net short -35 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.

252-day price high (breakout)

Active

Adjusted close makes a new 252-day high; repeats within 20 days counted once.

3 historical occurrences (since 2023-11-21)

Monthly revenue YoY ≥ 20% (from filing deadline)

Active · now 20.41%

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

50 historical occurrences (since 2022-03-14)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 41.7%, Sample 12, Median -0.65%, Excess -2.98%, Beat mkt rate 25%；60-day: Win 54.5%, Sample 11, Median +0.81%, Excess -6.48%, Beat mkt rate 27.3%；120-day: Win 25%, Sample 8, Median -18.49%, Excess -24.73%, Beat mkt rate 0%

120 days after: historical avg -8.51%

20-day -0.75%
60-day +3.9%
120-day -8.51%
20-day
60-day
120-day
Win
41.7%
54.5%
25%
Sample
12
11
8
Median
-0.65%
+0.81%
-18.49%
Excess
-2.98%
-6.48%
-24.73%
Beat mkt rate
25%
27.3%
0%

Over 8 occurrences, 120-day forward avg declined 8.51%, lagged the market by 24.73 pts; win rate 25%.

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.

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.

6 times historically; 60-day forward avg -6.54%, win rate 33.3%, beating the market by -14.83 pts on average.

What does 力士 do? Company profile

半導體業；功率半導體分離式元件設計 櫃買中心上櫃

Overview

4923 對應力士科技股份有限公司，為櫃買中心上櫃普通股，非 ETF、ETN、權證或特別股。公司成立於 2007/06/11，興櫃日期 2010/06/30，上櫃日期 2022/03/14；總部位於新北市新莊區思源路555號24樓。官方揭露實收資本額為新台幣338,908,000元，已發行普通股33,890,800股；董事長兼總經理為鍾明道，發言人為鍾秉家。公司自述為台灣 MOSFET 技術集成電路設計先驅，使用0.25/0.18/0.13微米等製程技術，產品涵蓋低壓及中高壓應用。員工規模方面，本次可查到104人力銀行揭露約50人，第三方整理之2023年法說資料為52人，但未在本次可得官方頁面交叉確認，故列為約50人。主要股東依公司2025年主要股東名冊，114/03/22前十大股東包含鍾明道持股2,526,550股、配偶及未成年子女222,000股，秉家投資有限公司1,837,200股，力士科技股份有限公司庫藏/自持1,150,000股，宜鼎投資股份有限公司1,060,000股，鍾秉家1,050,990股，井豐投資股份有限公司885,600股，禾鼎科技股份有限公司680,000股，廖裕輝660,000股，馨鼎企業股份有限公司565,000股，宜素投資有限公司455,000股。

Business

力士是專業功率半導體分離式元件設計公司，主要業務為電子零組件製造、電子材料批發、資訊軟體服務及國際貿易，核心產品為 MOSFET，並銷售 MOSFET wafer 半成品、二極體、電晶體、ESD/TVS 與部分電源管理相關元件。MoneyDJ整理2024年產品營收比重為 MOSFET 63%、Wafer 27%、Diode 2%、Transistor 1%；公司官方月營收頁顯示2024全年營收814,460,159元，2025年1至5月各月營收約6,002萬至7,064萬元。商業模式以自有 MOSFET 專利與設計、委外晶圓製造、封裝測試及客戶導入為主，屬 fabless/設計導向的功率元件供應商；公司揭露主要原料與供應鏈包括磊晶矽晶圓、晶圓代工、封裝測試。終端應用包括筆記型電腦、PC/NB、主機板、顯示卡、LCD TV/Monitor、手機、網通、電池模組、電源供應器、快充、轉接器、可攜式產品、電動工具、家電、車用及充電樁等。歷史資料顯示2021年應用比重曾為PC/NB 37%、手機28%、電池模組14%、TV面板9%、網通2%、電源供應器2%；2022年前後產品銷售中 MOSFET 與 MOSFET Wafer 合計約77.73%，二極體16.36%，Transistor 4.78%。公司曾揭露取得 HP、DELL 等國際筆電品牌合格供應商資格，並提及受到 HP、ASUS 等品牌客戶信賴；2026年新聞則指出中國消費電子與車用 Wafer 半成品需求增加、電源供應器與電池品項出貨穩定，並已切入電源供應器新客戶合格供應鏈與遊戲機相關產品量產。

Outlook 2025–2028

2025至2028年展望以功率元件需求復甦、AI PC/NB與AI邊緣裝置電源規格升級、USB PD 3.1與Type-C快充滲透、電源供應器新客戶放量、遊戲機產品量產、消費電子與車用 Wafer 半成品訂單為主要成長動能。公司2024年新聞稿指出 USB PD 3.1 規格升級將提高 MOSFET 使用數量，並持續優化自有 ETG、RTG 技術與 ESD 抗靜電防護；同年6月新聞稿指出公司已有大型系統廠供應鏈資格，有助於爭取新世代 AI NB/PC 更大電壓與電流功率 MOSFET 訂單。2026年新聞指出1月營收年增33.47%、2月營收8,519萬元且年增39.63%，前2月合併營收1.65億元、年增36.57%，反映需求較2024至2025低谷改善；5月市場新聞並指訂單能見度看到年底、電源供應器業績顯著增加。2027至2028年屬中期推估，若AI PC換機、快充標準、車用/充電樁與遊戲機客戶維持導入，力士可望受惠於中低壓 MOSFET 用量與產品組合改善；但該推估未見公司正式量化財測。主要風險包括公司規模小、客戶與應用集中度、晶圓代工與封測產能及成本、MOSFET價格競爭、中國消費電子景氣波動、庫存循環、技術迭代與專利訴訟。公司網站揭露2024/05/30有強茂提告公告，2025/02/04公告與華碩電腦專利侵權賠償訴訟案勝訴，顯示專利/訴訟仍是需追蹤風險。

Supply Chain

Upstream
  • 世界先進積體電路股份有限公司 5347 晶圓代工相關合作方；MoneyDJ資料稱力士結合世界先進封閉式製程技術，並透過晶圓代工廠世界先進引薦與客戶合作開發客製化或創新產品。
  • 磊晶矽晶圓供應商 主要原料來源之一；公司資料稱主要原料為磊晶，供應商除磊晶矽晶圓廠外尚有晶圓代工廠，未揭露具體公司名稱。
  • 晶圓封裝及測試廠 委外封裝測試供應鏈；公司資料稱供應鏈包含晶圓封裝及測試廠，未揭露具體公司名稱。
Downstream
  • 華碩電腦股份有限公司 2357 PC/NB品牌與終端應用客戶之一；公司歷史新聞稱產品深獲包括ASUS等國際PC/NB品牌客戶信賴，另公司2025/02/04公告與華碩專利侵權賠償訴訟勝訴。
  • HP Inc. 美國上市PC/NB品牌客戶；公司歷史新聞稱深獲HP等國際PC/NB品牌客戶信賴，並曾取得HP合格供應商資格。
  • Dell Technologies Inc. 美國上市PC/NB品牌客戶；公司2022新聞稿稱已取得DELL合格供應商資格。
  • 電源供應器客戶 公司2026新聞稱已透過既有合作夥伴打入電源供應器新客戶合格供應鏈，並可能受惠AI邊緣裝置出貨提升；具體客戶未揭露。
  • 中國陸系消費電子與車用客戶 2026年2月營收新聞指出中國陸系消費電子與車用所需Wafer半成品需求增加並追加訂單；具體客戶未揭露。
  • 遊戲機相關客戶 2026年新聞指出遊戲機相關產品已正式量產出貨，供應商替換門檻較高；具體客戶未揭露。

Competitors

  • 尼克森微電子股份有限公司 3317 承銷公開說明書採樣同業；主要產品同含MOSFET，終端應用含消費性電子、PC/NB等。
  • 大中積體電路股份有限公司 6435 承銷公開說明書採樣同業；功率元件公司，產品與力士在MOSFET市場重疊。
  • 富鼎先進電子股份有限公司 8261 承銷公開說明書採樣同業；主要產品為MOSFET、IGBT及類比IC，應用於電源供應器、PC/NB、智慧手機、平板、汽車電子等。
  • 強茂股份有限公司 2481 台股上市功率分離式元件/二極體廠，與力士在二極體及部分功率元件應用存在競合；公司網站亦揭露強茂曾提告力士，屬需追蹤訴訟事件。
  • 茂矽電子股份有限公司 2342 台股上市半導體公司，具功率半導體/MOSFET相關業務，與力士在部分功率元件市場競爭。
  • 英飛凌科技 Infineon Technologies AG 德國上市全球功率半導體大廠；非台股掛牌，為MOSFET、功率元件國際競爭者。
  • onsemi 美國上市功率半導體供應商；非台股掛牌，為MOSFET及車用功率元件國際競爭者。
Sources（22）

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.