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6625

必應 Other As of 2026-06-17 Updated daily after market close

steady quality, discounted valuation.

1 active signal
Revenue ≥20%
This page refreshes daily after the close. Add 必應 to your watchlist to track signal changes on your next visit.
Valuation 74Quality 76Growth 73Momentum 42Chips 83

Is 必應 a buy? Fundamentals and valuation first

  • Above-average profitability.Operating margin is in the 70th market percentile. Latest quarterly ROE ≈ 4.6%.

  • Valuation is low.PE is in the 4th market percentile; within its own history, PE is around the 2th percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 6.7% of volume (net buy).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 29.6%, 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

Bullish +0.37
BearishNeutralBullish

Single-sided accumulation, concentration rising — bullish

  • Single-sided accumulation, concentration rising — bullish
  • 元大-高雄 holds 726 lots
  • sellers have 97 lots left, ~45 sessions to clear

Window from 2026-01-17 · Price -10% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 元大-高雄 has accumulated 726 lots since the start (sold 0%), still adding.
  • Main distributor 永豐金-板盛 peaked at 65 lots, has sold 66%, 22 left, paused recently.
  • TDCC big holders (absolute) >1000-lot holders +2.22pp, mid holders -4, retail +2.77pp — concentration shifting upward.
  • Foreign hedge-desk net short Net short -716 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
元大-高雄新光國泰-敦南元大-花蓮華南永昌-高雄玉山證券
Distributing
永豐金-板盛玉山-新莊永豐金-竹北元大-大雅永豐金-敦北富邦-敦南
Desks
own scale
美商高盛凱基-台北台新證券美林
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 元大-高雄 +726
    sold 0%· still adding
  • 新光 +394
    sold 0%· still adding
  • 國泰-敦南 +199
    sold 3%· still adding
  • 元大-花蓮 +152
    sold 0%· still adding
  • 華南永昌-高雄 +140
    sold 2%
  • 玉山證券 +113
    sold 3%

Distributing

  • 永豐金-板盛 22 left
    sold 66%· paused recently
  • 玉山-新莊 7 left
    sold 85%· paused recently
  • 永豐金-竹北 10 left
    sold 67%· paused recently
  • 元大-大雅 18 left
    sold 38%· ~45 sessions to clear
  • 永豐金-敦北 5 left
    sold 82%· ~7 sessions to clear
  • 富邦-敦南 8 left
    sold 70%· paused recently

Desks

  • 美商高盛 -733
    hedge desk · will cover
  • 凱基-台北 -615
    day-trade · selling pressure
  • 台新證券 -462
    unclassified
  • 美林 -282
    hedge desk · will cover
Still selling 97 lots ~45 sessions to bottom at most
Recent buy/sell force +568 absorbed / -88 sold buyers slightly ahead
Hedge-desk net short -96 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)

Mixed direction: big-holder and retail changes are not aligned.

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 29.57%

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

57 historical occurrences (since 2018-02-07)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 48.1%, Sample 52, Median -0.37%, Excess +1.18%, Beat mkt rate 44.2%；60-day: Win 49%, Sample 51, Median -0.53%, Excess -2.18%, Beat mkt rate 37.3%；120-day: Win 49%, Sample 49, Median 0%, Excess +4.24%, Beat mkt rate 38.8%

120 days after: historical avg +14.89%

20-day +2.97%
60-day +2.71%
120-day +14.89%
20-day
60-day
120-day
Win
48.1%
49%
49%
Sample
52
51
49
Median
-0.37%
-0.53%
0%
Excess
+1.18%
-2.18%
+4.24%
Beat mkt rate
44.2%
37.3%
38.8%

Over 49 occurrences, 120-day forward avg gained 14.89%, beat the market by 4.24 pts; win rate 49%.

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 here139+11.2% +12.3% 87.1% -28.6%
20-40 49+2.7% +3.2% 59.2% -23.8%
40-60 30-7.3% -7.5% 0% -112.4%
60-80 0Insufficient data
80-100 0Insufficient 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 ≈ 7.88, at the 2.2th 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
Now
-5.4%
Win rate 35.6% Excess -12.6%
87d
-6.5%
Win rate 20.9% Excess -37.9%
67d
Insufficient data
(0d)
60-day momentum down
+6.4%
Win rate 55.4% Excess -15.8%
184d
Insufficient data
(0d)
Insufficient data
(0d)

Currently in “Cheap (own-history bottom 1/3) × 60-day momentum up”: across 87 historical days, 120-day forward avg declined 5.4%, win rate 35.6%, lagged the market by 12.6%.

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.

5 times historically; 60-day forward avg +47.04%, win rate 60%, beating the market by +41.09 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.

17 times historically; 60-day forward avg +10.33%, win rate 43.8%, beating the market by +4.26 pts on average.

What does 必應 do? Company profile

其他業；文化創意、流行音樂展演製作與硬體技術整合服務 台灣證券交易所上市

Overview

6625 對應證券為必應創造股份有限公司，為台灣證券交易所上市普通股，非 ETF、ETN、權證或特別股。公司成立於 2014/01/02，前身與相信音樂旗下演唱會製作業務有關，2018/02/07 上市。總部位於台北市內湖區新湖一路 370 號 3 樓；董事長兼總經理為周佑洋，發言人張瑞娟。依 2026 年可查公開資料，實收資本額約新台幣 579,724,880 元，已發行普通股約 57,972,488 股。員工規模依 113 年年報揭露，2024 年底合計 322 人，至 2025/03/31 為 337 人。主要股東依 113 年年報 2025/04/21 資料，包含相知有限公司、相信音樂國際股份有限公司、磐石移動股份有限公司等，其中相知有限公司與相信音樂國際股份有限公司互列關係人；另有多家投資公司持股。公司在官網自述為台灣第一家上市掛牌的全方位展演服務業者，參與現場演出逾萬場，並在台北、北京、上海、日本設有辦公室或通訊據點。

Business

公司核心業務為演唱會、頒獎典禮、音樂祭、商業展演、企業活動、體育賽事、電視錄影節目等活動的創意發想、節目企劃、導演與製作執行、舞台與空間設計、視覺與多媒體設計、燈光與音響設計、硬體工程統籌、燈光/音響/視訊/結構/樂器/攝影棚/公共工程及設備租賃，並逐步延伸至展演主辦、公關行銷整合、場館營運與原創 IP。依 113 年年報，2024 年營收結構為製作設計及硬體工程收入 31.12392 億元、占 98.93%；設備出租收入 0.24015 億元、占 0.76%；展演票券收入 0.08131 億元、占 0.26%；其他收入 0.02181 億元、占 0.05%。銷售區域方面，2024 年內銷 12.3618 億元、占 39.29%；外銷 19.09967 億元、占 60.71%。2025 年公司營收 43.71 億元、年增約 39%，EPS 9.13 元，創歷史新高；2026 年 1-5 月累計營收 18.88 億元、年增 37.18%。主要客戶類型包括唱片公司、藝人經紀公司、演出活動主辦單位、企業、政府機關與非營利組織。公開報導與官網列示的近年專案涵蓋五月天、林俊傑、孫燕姿、劉若英、周華健、李宗盛、陶喆、告五人、YOASOBI、Maroon 5、BLACKPINK、j-hope、OneRepublic、Post Malone、藤井風、Vaundy 等大型巡演或台灣站技術服務。

Outlook 2025–2028

2025-2028 年展望以大型演唱會與展演需求、台北大巨蛋等大型場館啟用、海外藝人來台、華語巡演國際化、場館營運與自有 IP 為主要成長動能。公司 113 年年報列示短期計畫包括提高商業企劃型客源比重、孵化原創 IP、投入虛實 IP 市場、擴展主辦業務、探索場館營運、因應 AI 對展演商業模式的改變並拓展線上體驗活動；長期計畫包括培育並延攬中國大陸在地製作設計人才、發展中國大陸及日本演出市場、擴張當地藝人版圖，以及擴大一條龍服務並評估整合標的。2026 年股東會相關報導指出，台北大巨蛋開放大型演唱會後，舞台、燈光、音響與整體技術整合需求同步成長；公司上半年已參與 i-dle、鄧紫棋、ONE OK ROCK、孫燕姿等台灣場製作，下半年包含五月天 25 週年巡演、aespa 台北演唱會，以及 Westlife、King Gnu、LiSA、Post Malone、藤井風、Vaundy 等海外藝人台灣站技術服務。中期機會包括高規格 LED、AR、XR、5G、AI、虛擬拍攝與線上/線下 O2O 展演模式導入。主要風險包括展演需求景氣循環、藝人檔期與大型場館供給限制、噪音與安全法規、專業人才短缺、跨境演出政策與匯率、客戶集中度、單一大型專案毛利波動、市場競爭及設備投資折舊壓力。2027-2028 年具體財務預測未見公司公開量化指引，因此僅能依公司公開計畫與產業趨勢作方向性判斷。

Supply Chain

Upstream
  • 燈光、音響、視訊、結構、樂器與攝影棚工程協力廠商 年報揭露公司服務鏈上游包含燈光、音響、視訊、結構、樂器及棚內工程等硬體與工程資源，但未逐一揭露供應商名稱；多數為未上市或未確認掛牌之專業工程/設備商。
  • 舞台、空間、視覺、多媒體與技術設計人才/工作室 上游關鍵投入為創意、設計、導演、技術總監、媒體伺服器、AR/XR/LED 等內容與技術供應；公開資料未揭露個別供應商，故 stock_id 設為 null。
  • 展演場館與設備平台 大型活動需要台北大巨蛋、台北流行音樂中心、高雄流行音樂中心、Zepp New Taipei 等場館與設備環境；場館多為公部門、民間未上市或非台股上市櫃主體。
Downstream
  • 相信音樂國際股份有限公司 主要股東之一，亦屬華語音樂與演唱會內容端重要合作來源；未上市公司，stock_id 設為 null。
  • 音樂製作公司與演藝經紀公司 年報列為下游客戶類型，包含唱片公司、藝人經紀公司及活動主辦單位；多數客戶未公開或未上市，年報對前兩大客戶以客戶 A、客戶 B 匿名揭露。
  • 企業組織、政府機關與非營利組織 年報列為下游應用端，需求包含頒獎典禮、商業展演、企業活動、體育賽事及公共活動；多數非台股掛牌主體。
  • 台北流行音樂中心 公司 2026 年股東會報導提及承接台北流行音樂中心相關技術服務；公設法人/場館，非台股掛牌。

Competitors

  • 寬宏藝術經紀股份有限公司 6596 台灣上櫃公司，主要從事演唱會、展覽、藝文表演與票務/活動主辦，與必應在演出活動主辦、製作及展演市場有部分競爭或合作關係。
  • 華研國際音樂股份有限公司 8446 台灣上櫃公司，核心為音樂內容、藝人經紀與授權；並非硬體工程整合商，但在藝人、演唱會內容與華語音樂產業鏈中與必應下游客戶及專案來源有交集。
  • Live Nation Entertainment / Live Nation Taiwan 國際演唱會主辦與娛樂公司，美國上市母公司，台灣子公司非台股掛牌；在大型國際藝人演唱會主辦與製作協調上可能為合作方或競爭方。
  • 超級圓頂股份有限公司 台灣大型演唱會與活動主辦/製作公司，未上市；與必應在大型華語及國際演唱會活動市場具競爭關係。
  • 開麗娛樂經紀有限公司 台灣演唱會及大型活動主辦/製作業者，未上市；與必應在藝人巡演、活動主辦與製作服務市場具競爭關係。
Sources（9）

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.