Free trial

Ask AI to review this stock

Copy the prompt to get recent events, historical reactions, and a short research brief.

Tell your AI:

Help me set up FinLab and analyze 6546 正基. Please read: https://finlab.finance/en/setup?stock=6546

No install, open FinLab Studio

6546

正基 Communications & Internet As of 2026-06-17 Updated daily after market close

steady quality, fair valuation, no active signal today.

This page refreshes daily after the close. Add 正基 to your watchlist to track signal changes on your next visit.

Is 正基 a buy? Fundamentals and valuation first

Above-average profitability.Operating margin is in the 67th market percentile. Latest quarterly ROE ≈ 3.0%.
Valuation is neutral.PE is in the 59th market percentile; within its own history, PE is around the 60th percentile.
Foreign investors are net buying.Foreign 20-day net flow ≈ 8.5% of volume (net buy).

Chip flow

Bearish -0.30

BearishNeutralBullish

Distribution, concentration falling — bearish

Distribution, concentration falling — bearish
凱基-台北 holds 727 lots
sellers have 270 lots left, ~85 sessions to clear

Window from 2026-01-17 · Price +9% · branches to 2026-06-17· TDCC to 2026-06-12

Largest holder 凱基-台北 has accumulated 727 lots since the start (sold 0%), still adding.
Main distributor 國票-安和 peaked at 291 lots, has sold 86%, 40 left, ~80 sessions to clear at the recent pace.
TDCC big holders (absolute) >1000-lot holders -2.29pp, mid holders +1, retail +0.60pp — little change.
Foreign hedge-desk net short Net short -931 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

凱基-台北台灣摩根士丹利美林港商野村富邦-台中元大-豐原站前

Distributing

國票-安和第一金-嘉義花旗環球台中銀-台北元大-大里永豐金證券

Desks

own scale

美商高盛華南永昌-桃園元大證券永豐金-敦北

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

Branch details Unit: lots

Accumulating

凱基-台北 +727

sold 0%· still adding
台灣摩根士丹利 +399

sold 5%· still adding
美林 +374

sold 3%
港商野村 +273

sold 17%
富邦-台中 +255

sold 5%· still adding
元大-豐原站前 +142

sold 4%· still adding

Distributing

國票-安和 40 left

sold 86%· ~80 sessions to clear
第一金-嘉義 59 left

sold 67%· paused recently
花旗環球 60 left

sold 63%· ~6 sessions to clear
台中銀-台北 107 left

sold 30%· paused recently
元大-大里 34 left

sold 77%· ~85 sessions to clear
永豐金證券 14 left

sold 90%· ~11 sessions to clear

Desks

美商高盛 -575

hedge desk · will cover
華南永昌-桃園 -314

unclassified
元大證券 -307

unclassified
永豐金-敦北 -278

unclassified

Still selling 270 lots ~85 sessions to bottom at most

Recent buy/sell force +696 absorbed / -310 sold buyers slightly ahead

Hedge-desk net short -931 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

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 Insufficient data

20-40 Insufficient data

40-60 Insufficient data Now

60-80 Insufficient data

80-100 Insufficient data

PE percentile band	Sample days	240-day avg return	Median	Win rate	Avg excess (vs index)
0-20	0	Insufficient data
20-40	0	Insufficient data
40-60 You are here	0	Insufficient data
60-80	0	Insufficient data
80-100	0	Insufficient data

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 ≈ 27.97, at the 59.7th percentile of its own history (40-60 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

Insufficient data
(0d)

Insufficient data
(1d)

Insufficient data
(0d)

60-day momentum down

Insufficient data
(0d)

Now

-1.2%

Win rate 39.5% Excess -44.3%

81d

-9.7%

Win rate 13.5% Excess -45.2%

37d

Currently in “Mid × 60-day momentum down”: across 81 historical days, 120-day forward avg declined 1.2%, win rate 39.5%, lagged the market by 44.3%.

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)

Pending

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

5 times historically; 60-day forward avg +7.53%, win rate 60%, beating the market by +1.39 pts on average.

Monthly revenue YoY ≥ 20% (from filing deadline)

Pending

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

25 times historically; 60-day forward avg +7.1%, win rate 50%, beating the market by +5.6 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.

15 times historically; 60-day forward avg +0.3%, win rate 50%, beating the market by -6.88 pts on average.

What does 正基 do? Company profile

通信網路業上櫃（櫃買中心）

Overview

正基科技股份有限公司為台灣上櫃普通股，股票代號6546，英文名稱AMPAK Technology Inc.。公司成立於2000年12月14日，主要營運地與總部位於台灣新竹，登記地址為新竹縣竹北市環科一路23號六樓之二；2022年5月24日上櫃。董事長為陳明哲，總經理為魏瀅洳。依公司2025年股東會年報與公開資料，實收資本額約新台幣6.68億元，已發行普通股約66,848,449股；2025年度合併營收為新台幣2,339,532仟元，稅後淨利184,349仟元，EPS 2.73元。員工規模方面，2025年底合計120人，2026年3月31日亦為120人，其中經理人12人、一般職員108人、生產線員工0人，顯示其偏研發、設計、行銷與委外製造模式。主要股東依2026年3月24日年報資料：正文科技持有20,000,595股、持股29.91%，為最大股東；陳明哲持有986,025股、1.47%；花旗託管瑞銀歐洲SE投資專戶805,000股、1.20%；游國威690,000股、1.03%；中盈投資開發609,000股、0.91%；台達資本554,000股、0.82%；蔡朝發506,000股、0.75%；張凱菁475,000股、0.71%；李春美450,000股、0.67%；黃健榮415,000股、0.62%。子公司包含速連通訊股份有限公司，主要從事無線通訊模組銷售及技術整合服務。

Business

正基定位為智慧物聯網無線射頻模組品牌公司，主要提供無線通訊模組之研發、生產與銷售，並以AMPAK自有品牌供應全球AIoT B2B客戶；生產採委外加工製造，正基本身聚焦研發、行銷、銷售、軟硬體整合與技術支援。2025年度營收結構：無線通訊模組新台幣2,328,904仟元、占99.55%；其他收入新台幣10,628仟元、占0.45%，其他主要為測試開發版專案銷售或一次性工程費用。主要產品包含Wi-Fi模組、Bluetooth模組、Wi-Fi與Bluetooth combo模組、PCIe/M.2無線網路卡、GPS/GNSS模組、IoT與IoT sensor模組、SoM無線系統模組、車規及寬溫無線多功能模組、Matter智慧家庭應用模組、5G RedCap M.2 card與LGA模組。終端應用涵蓋工業與企業、POS、VoIP、無人機、人形機器人、工業平板、智慧家庭、IP Cam、電子書、OTT STB、投影機、白色家電、控制面板、智能音響、智能燈泡、車載行車記錄器、車用娛樂系統、充電樁、駕駛者監控系統、智慧醫療血糖機、X-ray機、耳溫槍、血液透析機、超音波等。商業模式上，公司與上游無線晶片、CPU平台及代理通路合作，提供參考設計線路、Driver Porting、RF與前端電路設計、天線測試、EMI服務、BQB與Wi-Fi認證支援，協助客戶縮短產品上市時程。2025年主要銷售客戶中，YEKER占18.91%、ALL PLUS占13.08%、科通國際占12.84%，其餘客戶占55.17%；2026年第一季前四大客戶為科通國際、嘉瑞森、YEKER與ALL PLUS。

Outlook 2025–2028

2025年營運受高利率、地緣政治風險、終端庫存調整、消費性電子復甦不如預期及部分客戶受全球記憶體缺貨遞延影響，全年合併營收較2024年小幅下滑至新台幣23.40億元；但產品組合優化與成本控管使2025年毛利率提升至約23.6%，第三季後獲利能力改善。2026年公司策略聚焦高整合度、低功耗、模組化，強化智慧終端、低成本5G連線、邊緣AI運算，推動AIoT在工業與車用市場落地。主要成長動能包括：1. 5G RedCap模組，因具低複雜度、低成本、體積小與電池續航優勢，可用於智慧製造、AGV/AMR、工業感測器、監控、智慧城市、智慧電網、穿戴與健康監測等；2. Wi-Fi 7與Wi-Fi 7 IoT模組，有助提升ASP並延伸至高頻寬與低延遲應用；3. AI SoM，例如AP72619整合Synaptics SL2619 SoC、Google Coral NPU、DDR、eMMC與Wi-Fi 6E/Wi-Fi 7連線，鎖定智慧家庭自動化、智慧長照與醫療護理、工業物聯網；4. 車規無線模組、充電樁與智慧座艙應用；5. 無人機、人形機器人、Edge AI與AI mesh powered network等新應用。公司2026法說會技術路線指出：2026年發展Wi-Fi 7、5G RedCap、車用模組、Wi-Fi 7 IoT、SoM與AI應用軟體；2027年規劃Wi-Fi 8、5G RedCap、車用模組、智慧座艙、AI mesh powered network、Edge computing與Pre-trained AIoT module；2028年規劃Wi-Fi 8、5G RedCap、車用模組與Pre-trained AIoT module。主要風險與挑戰包括全球通訊模組競爭激烈、晶片平台與模組供應商持續投入高階技術、各國無線通訊產品認證趨嚴、匯率與景氣循環波動、記憶體與IC供應價格及交期變動、單一主要供應商益登科技占進貨比重偏高，以及下游客戶需求復甦不均。

Supply Chain

Upstream

益登科技股份有限公司 3048 正基2025年最大進貨供應商，占全年進貨淨額67.60%，主要供應IC或代理相關晶片，為台股掛牌公司。
聯發科技股份有限公司 2454 無線通訊與平台晶片供應商之一；正基與上游無線及CPU平台廠合作開發模組與參考設計，實際採購占比未逐項揭露。
瑞昱半導體股份有限公司 2379 無線網路、藍牙與網通晶片供應商之一；屬正基可支援之上游晶片平台，實際採購占比未逐項揭露。
楠梓電子股份有限公司 2316 PCB供應商之一；正基年報列示PCB主要供應商包含楠梓電，供應狀況穩定。
博敏電子股份有限公司 PCB供應商之一，為中國大陸掛牌或非台股掛牌公司；正基年報列示供應狀況穩定。
紅板電子有限公司 PCB供應商之一，未確認為台股上市櫃公司；正基年報列示供應狀況穩定。
Broadcom Inc. 美國上市無線通訊晶片供應商；屬正基合作或支援之上游晶片平台，非台股掛牌。
Qualcomm Incorporated 美國上市行動與無線晶片供應商；屬正基合作或支援之上游晶片平台，非台股掛牌。
Synaptics Incorporated 美國上市SoC與連接晶片供應商；正基AP72619 AI SoM採用Synaptics SL2619 SoC，非台股掛牌。
Texas Instruments Incorporated 美國上市類比與嵌入式晶片供應商；屬可合作或支援之上游平台，非台股掛牌。

Downstream

YEKER 2025年第一大銷售客戶，占銷貨淨額18.91%；未確認為台股上市櫃公司，可能為通路或代理客戶。
ALL PLUS 2025年第二大銷售客戶，占銷貨淨額13.08%；未確認為台股上市櫃公司，可能為通路或代理客戶。
科通國際 2025年第三大銷售客戶，占銷貨淨額12.84%；未確認為台股上市櫃公司，可能為香港或中國大陸通路商。
嘉瑞森 2026年第一季前四大銷售客戶之一，占第一季銷貨淨額12.15%；未確認為台股上市櫃公司。
工業、智慧家庭、車載、醫療與AIoT OEM/ODM客戶正基下游客戶多為終端產品設計、生產與品牌客戶，應用於IP Cam、OTT STB、POS、智慧醫療、車用多媒體、智能家電、工業自動化、無人機與機器人等；公司未完整揭露終端品牌名單。

Competitors

海華科技股份有限公司 3694 台股上市櫃同業，從事無線通訊模組與數位影像模組，切入IoT、智慧家電、機器人、車載電子與Wi-Fi 7等應用，為正基較直接的台灣無線模組競爭者。
正文科技股份有限公司 4906 台股上市網通公司且為正基最大股東；雖非完全相同產品定位，但在網通、無線連接與終端設備供應鏈具相關性。
訊芯科技控股股份有限公司 6451 台股上市櫃SiP與封裝相關公司，與正基在高整合度模組、SiP供應鏈或部分客戶需求上具可比性，但業務並非完全相同。
Quectel Wireless Solutions Co., Ltd. 中國大陸上市蜂巢式與IoT模組廠，非台股掛牌；在5G、LTE、RedCap、GNSS與IoT模組市場為國際競爭者。
Fibocom Wireless Inc. 中國大陸上市無線模組廠，非台股掛牌；產品涵蓋5G、LTE、AIoT與車用模組，為國際競爭者。
村田製作所日本上市電子零組件與無線通訊模組大廠，非台股掛牌；在Wi-Fi、Bluetooth與IoT連接模組市場具全球競爭力。

Sources（12）

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.