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Help me set up FinLab and analyze 6509 聚和. Please read: https://finlab.finance/en/setup?stock=6509
6509
strong quality, discounted valuation, no active signal today.
Is 聚和 a buy? Fundamentals and valuation first
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Top-tier profitability.Operating margin beats ~87% of the market. Latest quarterly ROE ≈ 4.5%.
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Valuation is low.PE is in the 24th market percentile; within its own history, PE is around the 18th percentile.
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Foreign investors are net buying.Foreign 20-day net flow ≈ 7.0% of volume (net buy).
Chip flow
Single-sided accumulation, concentration rising — bullish
Window from 2026-01-17 · Price +38% · branches to 2026-06-17· TDCC to 2026-06-12
- Largest holder 摩根大通 has accumulated 2,240 lots since the start (sold 6%), now trimming.
- Main distributor 新加坡商瑞銀 peaked at 929 lots, has sold 29%, 664 left, paused recently.
- TDCC big holders (absolute) >1000-lot holders +4.90pp, mid holders +6, retail -4.87pp — concentration shifting upward.
- Foreign hedge-desk net short Net short -21 lots (inferred from branch profile, mostly hedging — not necessarily bearish, not case-confirmed).
Accumulating
- 摩根大通 +2,240
- 美商高盛 +1,781
- 台灣摩根士丹利 +1,540
- 凱基-湖口 +896
- 兆豐-天母 +856
- 元大證券 +815
Distributing
- 新加坡商瑞銀 664 left
- 美林 668 left
- 凱基-台北 327 left
- 兆豐-寶成 308 left
- 港商野村 163 left
- 凱基-站前 303 left
Desks
- 國票-北高雄 -2,157
- 國泰-高雄 -1,256
- 凱基-高美館 -992
- 新光-新竹 -663
Direction matches: big-holder share rose while retail share fell.
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
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 band | Sample days | 240-day avg return | Median | Win rate | Avg excess (vs index) |
|---|---|---|---|---|---|
| 0-20 You are here | 1586 | +27.7% | +7% | 63.2% | 0% |
| 20-40 | 250 | -2.1% | -1.8% | 44.4% | -10.7% |
| 40-60 | 382 | -9.3% | -5% | 33.8% | -10.3% |
| 60-80 | 214 | -11.4% | -10.1% | 47.2% | -11.6% |
| 80-100 | 361 | -6.4% | -3.8% | 30.2% | -4.5% |
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 ≈ 14.55, at the 17.5th 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.
Currently in “Cheap (own-history bottom 1/3) × 60-day momentum up”: across 925 historical days, 120-day forward avg gained 16.4%, win rate 64.4%, beat the market by 2.4%.
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.
Signals not active (historical stats for reference)
These are not occurring now; historical samples shown for comparison.
252-day price high (breakout)
PendingAdjusted close makes a new 252-day high; repeats within 20 days counted once.
26 times historically; 60-day forward avg +2.45%, win rate 37.5%, beating the market by -2.56 pts on average.
Monthly revenue YoY ≥ 20% (from filing deadline)
PendingMonthly revenue YoY ≥ 20%; event date is the first trading day after the filing deadline (no look-ahead).
51 times historically; 60-day forward avg +9.36%, win rate 61.5%, beating the market by +8.11 pts on average.
Foreign net buying for 5 straight days
PendingForeign net flow (ex-dealer) positive for 5 straight days; event on day 5; repeats within 20 days counted once.
60 times historically; 60-day forward avg +6.32%, win rate 62.7%, beating the market by +0.74 pts on average.
What does 聚和 do? Company profile
Overview
聚和國際股份有限公司為台灣上櫃普通股，證券代號6509，英文簡稱HOPAX。公司成立於1975/02/07，總部位於高雄市大寮區潮寮里華東路28號，前身為台灣聚和化學工業股份有限公司，1997年更名為現名，2004/04/12上櫃掛牌。董事長為郭聰田，2026/06/09董事會公告續任董事長，總經理依公開股市資料為郭聰田；公司副董事長為郭美璘。實收資本額約新台幣19.65億元，已發行普通股196,543,326股。公司網站與公開資料顯示主要營運據點包括台灣高雄大發廠、台北業務處、中國常熟廠、中國昆山廠、印尼泗水廠與英國銷售處。2025/11法說會揭露員工數約台灣536人、全球963人。公開股市資料列示聚和所屬集團為永豐餘；永豐餘創辦家族與聚和創業資金及持股關係見媒體報導，但本次未取得可完整核對的最新前十大股東名冊，因此主要股東細項不列數字。
Business
聚和是以化學合成、配方與應用服務為核心的綜合性化學製造商，主要業務為精密化學品、特用化學品與辦公文具用品，並延伸至農業科技、個人清潔抗菌及新藥開發子公司。2024年產品營收占比第三方整理為精密化學品約40%、特用化學品約31%、辦公文具用品約27%，其餘為其他部門；2025年前三季法說與市場整理顯示精密化學品占比提高至約46%，獲利貢獻約七成。精密化學品核心為生物緩衝劑、生物清潔劑、電鍍添加劑、鋰電池電解液添加劑、磺酸鹽型鏈改質劑與流變改性劑；公司官網稱其為全球前二大醫療級生物緩衝劑製造商，生物緩衝劑應用於生物製藥研發、藥物、疫苗、眼部護理、動物健康、細胞培養、診斷試劑與生物試劑。特用化學品以造紙化學品、水處理化學品、日用清潔、分散劑、非碳複寫紙及熱敏紙化學品、濕端化學品、塗佈添加劑、鍋爐水處理劑等為主，客戶包括國內外造紙廠與具有鍋爐、冷卻水、原水及廢水處理需求的工廠。辦公文具用品為可重複黏貼便條紙品牌Stick'N／N次貼，外銷美國、歐洲、日本、韓國等市場，主要競爭對手為3M。公司也經營聚和生醫科技的黃金盾、無醛屋等個人與居家清潔防護產品，以及聚天生醫的新藥開發。
Outlook 2025–2028
2025年聚和已從2023年化學品景氣與疫情後需求回落中修復，2025年前三季營收年增約4%，營業淨利年增約13%，EPS 2.35元但因2024年現增股本膨脹而略受稀釋；2025全年營收第三方資料為48.77億元、EPS 2.87元。2026年1至5月累計營收23.03億元，年增約4.19%，2026Q1 EPS 1.19元，顯示高端生物緩衝劑、產品組合改善與費用控管仍是短中期獲利主軸。2025至2028年最重要成長動能是生物緩衝劑與生物製藥供應鏈，公司法說指出將積極拓展潛在終端與高端生物緩衝劑應用領域客戶；第三方法說整理指出公司規劃屏東科學園區新廠，第一期投資金額約35億元，聚焦Bio-Buffer，預計2026年第一季動工、2028年正式貢獻營收，此為中長期產能與產品組合升級關鍵。產業趨勢包括生物製藥、疫苗、細胞培養、診斷試劑、眼部護理及動物健康對高純度緩衝劑需求提高，綠能與電動車帶動鋰電池添加劑需求，環保法規與工業水處理需求支撐特用化學品。主要風險包括新廠投資與量產時程延誤、客戶認證期長、原物料多為石化或泛用有機合成物而受油價與供需波動影響、匯率造成兌換損益、醫藥級產品品質與法規要求高、N次貼及造紙化學品需求受全球消費與紙業景氣影響、電池材料應用仍需面對中國與國際化工廠競爭。
Supply Chain
- 石化原料與泛用有機合成物供應商 公司造紙用化學品與精密化學品原料以石化原料或其衍生之泛用有機合成物為主；公開來源未揭露具名主要供應商。
- 原紙供應商 N次貼辦公文具用品使用原紙，公開資料稱向國內外紙廠採購；感壓性黏著劑則由聚和自行研發生產，未揭露具名供應商。
- 感壓性黏著劑自製體系 N次貼核心黏著劑由聚和自行研發生產，屬內部供應鏈而非外部上市櫃供應商。
Competitors
- 3M 美國上市公司；為N次貼／自黏便條紙主要國際競爭對手。
- BASF 德國上市公司；公開資料列為特用化學品國外主要競爭者。
- Nalco／Ecolab 美國上市集團旗下水處理與特用化學品牌；公開資料列為特用化學品國外主要競爭者。
- Hercules 國外造紙與特用化學品競爭者，現多屬大型化學集團整併體系；非台股掛牌。
- Raschig 德國精密化學品競爭者；公開資料列為精密化學品國外主要競爭者。
- Sigma-Aldrich／Merck 國際化學試劑與生物製藥材料供應商；公開資料列為精密化學品競爭者，同時在部分產品也可能是客戶或通路。
- 長春樹脂 台灣未上市化學集團；公開資料列為特用化學品台灣競爭者。
- 台灣荒川化學工業 台灣未上市或非台股掛牌公司；公開資料列為特用化學品台灣競爭者。
Sources（18）
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.