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6674

鋐寶科技 Communications & Internet As of 2026-06-17 Updated daily after market close

quality needs a look, premium valuation, no active signal today.

This page refreshes daily after the close. Add 鋐寶科技 to your watchlist to track signal changes on your next visit.
Valuation 27Quality 4Growth 10Momentum 13Chips 78

Is 鋐寶科技 a buy? Fundamentals and valuation first

  • Weak profitability.Operating margin is in the 5th market percentile. Latest quarterly ROE ≈ -8.0%.

  • Valuation is high.PE is in the 99th market percentile; within its own history, PE is around the 91th percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 5.2% of volume (net buy).

Chip flow

Bullish +0.25
BearishNeutralBullish

Institutional rotation, concentration steady — bullish

  • Institutional rotation, concentration steady — bullish
  • 台灣企銀-民雄 holds 62 lots
  • sellers have 23 lots left, ~40 sessions to clear

Window from 2026-01-17 · Price -18% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 台灣企銀-民雄 has accumulated 62 lots since the start (sold 0%), holding.
  • Main distributor 凱基-彰化 peaked at 30 lots, has sold 70%, 9 left, paused recently.
  • TDCC big holders (absolute) >1000-lot holders -0.04pp, mid holders +0, retail +0.01pp — little change.
  • Foreign hedge-desk net short Net short -40 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
台灣企銀-民雄新光-桃園凱基-南崁永豐金-忠孝花旗環球凱基-高雄
Distributing
凱基-彰化元大證券台新-台南亞東凱基-城中台新-中壢
Desks
own scale
臺銀-臺中元大-長庚第一金-新竹元大-左營
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 台灣企銀-民雄 +62
    sold 0%
  • 新光-桃園 +57
    sold 0%· still adding
  • 凱基-南崁 +40
    sold 0%
  • 永豐金-忠孝 +34
    sold 0%
  • 花旗環球 +33
    sold 13%
  • 凱基-高雄 +30
    sold 0%· still adding

Distributing

  • 凱基-彰化 9 left
    sold 70%· paused recently
  • 元大證券 13 left
    sold 52%· ~9 sessions to clear
  • 台新-台南 3 left
    sold 80%· paused recently
  • 亞東 5 left
    sold 55%· paused recently
  • 凱基-城中 6 left
    sold 45%· paused recently
  • 台新-中壢 4 left
    sold 64%· ~40 sessions to clear

Desks

  • 臺銀-臺中 -188
    unclassified
  • 元大-長庚 -106
    unclassified
  • 第一金-新竹 -76
    unclassified
  • 元大-左營 -68
    unclassified
Still selling 23 lots ~40 sessions to bottom at most
Recent buy/sell force +114 absorbed / -24 sold buyers slightly ahead
Hedge-desk net short -19 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.

PE percentile bandSample days240-day avg returnMedianWin rateAvg excess (vs index)
0-20 0Insufficient data
20-40 0Insufficient data
40-60 0Insufficient data
60-80 0Insufficient data
80-100 You are here0Insufficient 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 ≈ 293.33, at the 91.4th 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
Insufficient data
(0d)
Insufficient data
(4d)
Now
Insufficient data
(5d)
60-day momentum down
Insufficient data
(0d)
Insufficient data
(20d)
-13.4%
Win rate 10.7% Excess -6.5%
84d

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.

6 times historically; 60-day forward avg -20.4%, win rate 0%, beating the market by -26.69 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).

13 times historically; 60-day forward avg -3.72%, win rate 25%, beating the market by -8.11 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.

11 times historically; 60-day forward avg -4.42%, win rate 20%, beating the market by -12.96 pts on average.

What does 鋐寶科技 do? Company profile

通信網路業；網路設備、寬頻用戶端設備 CPE、智慧閘道器 上市

Overview

6674 對應證券為鋐寶科技股份有限公司，為臺灣證券交易所上市普通股，ISIN 資料列為 TW0006674005、上市股票、通信網路。公司成立於 2009/08/19，英文簡稱 CBN，總部位於新竹縣竹北市台元一街1號13樓之一，電話 (03)560-0066。2018/11/28 掛牌上市。統一編號 24456541。依 2026 年公開資料，董事長於 2026/04/17 起由仁寶電腦法人董事代表人彭聖華擔任，總經理為王昱賀，發言人何振宇。實收資本額約新台幣 6.85 億元至 6.87 億元區間，已發行普通股約 6,855 萬股至 6,897 萬股，因限制員工權利新股及時間點不同，各資料庫揭露數略有差異。2025 年報揭露 2025/04/17 員工總數 93 人，均為間接員工；平均年齡 38.44 歲、平均服務年資 5.54 年。主要股東及控制關係以仁寶電腦工業股份有限公司為核心，2025 年報揭露仁寶電腦持股 29,060,176 股、約 43.16%，另有瑞新投資持股 3,575,000 股、約 5.31%；市場資料亦顯示本國法人持股占比高，屬金仁寶集團成員。公司早期承襲仁寶集團寬頻網路周邊產品模式，2010 年併購 Motorola 歐洲有線通訊用戶端設備纜線數據機部門，2015 年後聚焦自有品牌 CBN 業務。

Business

鋐寶科技主要從事研究、開發及銷售智慧閘道器、無線寬頻分享器、光纖數據機、固定無線接取 FWA 設備、數位機上盒與其他通訊網路產品。2024 年營收 9.41934 億元，其中通信網路產品 8.02885 億元、占 85.24%，銷售材料收入及其他 1.39049 億元、占 14.76%；2023 年通信網路產品占 62.22%、銷售材料及其他占 37.08%，顯示 2024 年產品收入占比提高。2024 年區域營收為美洲 4.73025 億元、占 50.22%，歐洲 1.62252 億元、占 17.22%，亞洲及其他 3.06657 億元、占 32.56%；2023 年美洲占 67.06%、歐洲 19.64%、亞洲及其他 13.00%。商業模式以面向 MSO、有線電視與電信運營商的寬頻 CPE、智慧家庭網路終端、客製化軟硬體與加值管理功能為主，強調快速產品設計、RDK 平台、Wi-Fi Mesh、遠端維運、Self-Optimizing Networks、Smart Bridge、Smart Home Gateway 等差異化功能。公司產品用途包括整合寬頻、語音、無線網路與通訊網路服務，提供終端用戶家庭與中小企業網路連線。年報揭露 Cable Modem CPE 全球出貨量市占率約 0.6%，主要客戶涵蓋北美及歐洲市場，長期合作夥伴包括歐美多家領先 MSO；但客戶名稱多以 I 集團、K 集團、L 集團、K 公司匿名揭露。2025 年前三季營收 4.73894 億元、年減 30.2%，毛利 1.64078 億元、毛利率 34.6%，營業淨損 7,942.9 萬元，每股虧損 0.98 元；毛利率較 2024 年前三季 16.8% 顯著改善，但營收規模仍承壓。2026 年 5 月單月營收 4,413.6 萬元、年減 23.52%，2026 年 1 至 5 月累計營收 1.99226 億元、年減約 25.39%。

Outlook 2025–2028

2025 至 2028 年展望可分為復甦、產品升級與客戶分散三條主軸。成長動能方面，全球寬頻基礎建設、5G FWA、PON 光纖接取、Wi-Fi 7、Mesh Wi-Fi、DOCSIS 4.0 與智慧家庭應用升級，將帶動高效能低延遲 CPE 與家庭閘道器需求。公司年報引用產業研究指出 Cable Modem 市場 2024 至 2029 年具成長空間，5G FWA 及 PON 市場也有較高成長率；公司自身則預期 2024 下半年後庫存去化完成，網通需求回歸常態，2026 年市場需求可望逐季回溫。新產品方面，公司已開發 XGSPON 搭配 Wi-Fi 7 三頻智慧閘道器、Wi-Fi 7 三頻智慧閘道器、Wi-Fi 6 雙頻智慧閘道器、5G NR 搭配 Wi-Fi 6 的智慧閘道器；計畫開發整合 Wi-Fi 7、Mesh 與 DOCSIS 3.1 的智慧家庭閘道器，與晶片商合作下一世代 DOCSIS 4.0 家用閘道器，並推出 2.5G/10G PON ONU/HGU、家用乙太網路閘道器及 LTE/5G FWA 設備。策略上，公司短期聚焦既有客戶與市場、提升技術能力和加值服務、優化生產成本與品質；長期則發展創新網路與智慧家庭產品、與晶片商共同開發、開拓新產品線與新市場，以分散客戶和市場風險。主要風險包括：一、2022 至 2025 年仍處虧損期，營收縮小造成費用率偏高；二、客戶集中且年報主要銷貨客戶中 I 集團 2024 年仍占 38.17%，客戶產品線調整會直接影響出貨；三、DOCSIS 4.0、Wi-Fi 7、5G FWA 技術迭代快，若開發時程或認證未跟上，產品汰換風險高；四、高階射頻模組、PA 與部分關鍵晶片仰賴國際供應商，存在供應與價格風險；五、公司銷售區域以美洲、歐洲為主，美元與歐元匯率、運營商資本支出、地緣政治與關稅均可能影響訂單；六、台灣網通同業與國際品牌競爭激烈，毛利改善能否延續仍須觀察。

Supply Chain

Upstream
  • 仁寶電腦工業股份有限公司 2324 母公司、主要股東及供應鏈關係企業；2024 年為鋐寶主要供應商之一，進貨 7,812.2 萬元、占 11.81%，年報列示與發行人關係為母公司。
  • 辰公司（年報匿名揭露） 主要供應商；2024 年進貨 2.05742 億元、占 31.09%，年報未揭露完整公司名稱，無法確認是否上市櫃。
  • 未集團（年報匿名揭露） 主要供應商；2024 年進貨 1.17396 億元、占 17.74%，增加原因為客戶針對部分料件指定供貨廠商，年報未揭露完整名稱。
  • 主要晶片廠商及電子零組件供應商 公司與晶片廠共同開發並取得技術服務與價格支援；主要原料包含晶片、天線、印刷電路板、變壓器、電阻、電容、電源供應器等，供應來源來自美國、台灣及中國大陸等地，具體公司多未公開。
Downstream
  • I 集團（年報匿名揭露） 主要客戶；2024 年銷貨 3.59494 億元、占 38.17%，2023 年占 62.65%，年報未揭露完整名稱，應為海外運營商或通路/集團客戶。
  • K 集團（年報匿名揭露） 主要客戶；2024 年銷貨 1.64841 億元、占 17.50%，年報未揭露完整名稱。
  • L 集團（年報匿名揭露） 主要客戶；2024 年銷貨 9,519.6 萬元、占 10.11%，年報未揭露完整名稱。
  • K 公司（年報匿名揭露） 主要客戶；2024 年銷貨 1.12950 億元、占 11.99%，年報未揭露完整名稱。
  • 歐美 MSO、有線電視與電信運營商 終端客戶族群；公司年報指出主要客戶涵蓋北美及歐洲市場，長期合作夥伴包括歐美多家領先 MSO，產品用於家庭寬頻、智慧家庭、FWA、PON、DOCSIS 與 Wi-Fi Mesh 應用。

Competitors

Sources（17）

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.