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Help me set up FinLab and analyze 6794 向榮生技. Please read: https://finlab.finance/en/setup?stock=6794

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6794

向榮生技 Biotech & Healthcare As of 2026-06-17 Updated daily after market close

quality needs a look, fair valuation.

1 active signal
Revenue ≥20%
This page refreshes daily after the close. Add 向榮生技 to your watchlist to track signal changes on your next visit.
Valuation 11Quality 4Growth 84Momentum 47Chips 65

Is 向榮生技 a buy? Fundamentals and valuation first

  • Weak profitability.Operating margin is in the 2th market percentile. Latest quarterly ROE ≈ -3.6%.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 2.5% of volume (net buy).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 52.4%, 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 +0.69
BearishNeutralBullish

Single-sided accumulation, concentration rising — bullish

  • Single-sided accumulation, concentration rising — bullish
  • 兆豐-忠孝 holds 231 lots
  • sellers have 40 lots left, ~45 sessions to clear

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

  • Largest holder 兆豐-忠孝 has accumulated 231 lots since the start (sold 5%), now trimming.
  • Main distributor 兆豐-麻豆 peaked at 32 lots, has sold 84%, 5 left, ~10 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders +1.87pp, mid holders -1, retail -0.30pp — concentration shifting upward.
  • Foreign hedge-desk net short Net short -114 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
兆豐-忠孝京城群益金鼎-大安永豐金-松山華南永昌永豐金-古亭
Distributing
兆豐-麻豆美商高盛康和-延平元大-羅東台新華南永昌-岡山
Desks
own scale
永豐金-敦北元大-松山聯邦-忠孝宏遠證券
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 兆豐-忠孝 +231
    sold 5%
  • 京城 +213
    sold 0%· still adding
  • 群益金鼎-大安 +171
    sold 0%· still adding
  • 永豐金-松山 +95
    sold 10%
  • 華南永昌 +93
    sold 0%· still adding
  • 永豐金-古亭 +90
    sold 20%

Distributing

  • 兆豐-麻豆 5 left
    sold 84%· ~10 sessions to clear
  • 美商高盛 18 left
    sold 36%· ~45 sessions to clear
  • 康和-延平 10 left
    sold 50%· paused recently
  • 元大-羅東 2 left
    sold 88%· ~5 sessions to clear
  • 台新 6 left
    sold 65%· ~5 sessions to clear
  • 華南永昌-岡山 6 left
    sold 45%· paused recently

Desks

  • 永豐金-敦北 -225
    unclassified
  • 元大-松山 -210
    unclassified
  • 聯邦-忠孝 -189
    unclassified
  • 宏遠證券 -175
    unclassified
Still selling 40 lots ~45 sessions to bottom at most
Recent buy/sell force +282 absorbed / -29 sold buyers slightly ahead
Hedge-desk net short -38 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)

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

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 52.4%

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

13 historical occurrences (since 2024-08-12)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 25%, Sample 12, Median -2.47%, Excess -1.75%, Beat mkt rate 25%；60-day: Win 25%, Sample 12, Median -4.57%, Excess -6.99%, Beat mkt rate 41.7%；120-day: Win 54.5%, Sample 11, Median +4.78%, Excess -8.43%, Beat mkt rate 18.2%

120 days after: historical avg +4.44%

20-day -0.6%
60-day +0.86%
120-day +4.44%
20-day
60-day
120-day
Win
25%
25%
54.5%
Sample
12
12
11
Median
-2.47%
-4.57%
+4.78%
Excess
-1.75%
-6.99%
-8.43%
Beat mkt rate
25%
41.7%
18.2%

Over 11 occurrences, 120-day forward avg gained 4.44%, lagged the market by 8.43 pts; win rate 54.5%.

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.

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.

What does 向榮生技 do? Company profile

生技醫療業；再生醫學、異體脂肪間質幹細胞新藥、細胞製劑CDMO與外泌體原料 臺灣證券交易所上市一般板；2024-05-21以創新板上市，2025-10-16改列一般板

Overview

向榮生醫科技股份有限公司成立於2018-03-28，總部位於臺北市內湖區民權東路六段13之20號5樓，另於同址設有細胞製劑廠與化妝品廠。公司英文名為UnicoCell Biomed Co., Ltd.，統一編號50753953。公開資料顯示董事長為蔡意文、總經理與發言人為洪懿珮；2026-05-20曾公告董事會選任董事長，官網董事會頁截至查詢仍列蔡意文為董事長暨策略長。實收資本額636,370,000元，2025年4月30日員工38人，其中研發17人、主管13人、業務及管理8人。113年度年報揭露之重要持股與董事法人包括君綺生醫持有9,899,000股、約16.33%，鑫陽鋼鐵持有8,000,000股、約13.20%，董事長蔡意文持有2,416,925股、約3.99%，董事凌美華持有2,688,062股、約4.43%；2026年董事改選後法人名稱可能有異動，需以最新公開資訊觀測站股東名冊為準。公司於2024-05-21登錄臺灣證券交易所創新板，2025-07-28獲准改列一般板，2025-10-16正式由創新板改列一般板上市。

Business

公司定位為異體脂肪間質幹細胞新藥研發公司，核心產品為ELIXCYTE異體脂肪間質幹細胞製劑，主要適應症為膝骨關節炎與慢性腎臟病，另有困難傷口、巴金森氏症、老年衰弱等臨床前或早期評估方向。ELIXCYTE新藥仍處臨床試驗階段，尚未產生新藥銷售收入；現階段營收來自以幹細胞技術延伸出的商品與服務。113年度營收31,881仟元，較112年度24,589仟元增加；營收結構為幹細胞分泌物／外泌體12,507仟元、39.23%，特管辦法細胞製劑1,606仟元、5.04%，委託開發暨製造服務CDMO 8,620仟元、27.04%，其他9,148仟元、28.69%，其他主要包含超低溫生物製劑儲存容器UnicoVial、細胞檢測服務、諮詢與包裝保存材料。公司商業模式包括：一、新藥研發後取得藥證或授權／技轉；二、外泌體與幹細胞分泌物作為化妝品或未來醫療應用原料，已外銷日本並拓展海外；三、與醫院合作依特管辦法提供自體脂肪幹細胞治療退化性關節炎及膝關節軟骨缺損；四、以PIC/S GMP細胞製劑廠提供GMP等級細胞製劑開發、製造與品管檢測CDMO；五、銷售醫材等級超低溫生物製劑儲存容器與ISO 17025相關檢測服務。合作醫院與臨床／特管法服務對象包括台大醫院、長庚醫院、台北榮總、雙和醫院、亞東醫院、三軍總醫院、高雄長庚、景美醫院、寶建醫院與新光醫院等；外泌體護髮／保養應用曾揭露與曼都集團策略合作。

Outlook 2025–2028

2025至2028年主要觀察點為ELIXCYTE臨床與法規里程碑、再生醫療雙法落地後附款許可機會、CDMO與外泌體原料商業化放大。膝骨關節炎方面，ELIXCYTE第三期臨床於2023年2月及3月分別獲TFDA與美國FDA同意執行，2023年7月開始收案，2025-11-12公司宣布完成第三期最後一位病人收案，後續追蹤一年後解盲；2026-05-29公告向衛福部提出臨床試驗設計變更，代表2026至2027年應持續追蹤試驗設計變更核准、追蹤完成、解盲、結案與藥證或附款許可申請進度。慢性腎臟病方面，ELIXCYTE-CKD已完成1/2期結案審查，2025年3月取得美國FDA Fast Track資格，2026年獲邀於ISCT年會口頭發表1/2期結果；後續成長動能在於下一期臨床設計、國際法規溝通與授權談判。產業趨勢方面，高齡化、退化性疾病、慢性腎臟病、再生醫療製劑法規成熟，均有利於細胞治療與CDMO需求；公司已具美國FDA Master File備案之異體細胞庫、PIC/S GMP細胞製劑廠、日本PMDA特定細胞加工物製造認定、ISO 17025檢測能力，若臨床數據順利，可作為技術授權與委託製造基礎。短中期營收仍可能主要來自外泌體幹細胞分泌物、CDMO、檢測服務與UnicoVial等，2025上半年曾揭露細胞生產技術服務約占銷售產品營收51%、外泌體幹細胞分泌物約33%、其他約16%。主要風險包括：新藥臨床失敗或療效不顯著、收案與追蹤時程延宕、法規子法與附款許可審查不確定、再生醫療產品製造一致性與品質放大挑戰、研發費用與虧損造成資金需求、外泌體化妝品原料法規與市場競爭、CDMO客戶集中或需求波動、主要供應商與匿名大客戶集中度、以及細胞治療安全性事件對產業信任的影響。

Supply Chain

Upstream
  • 細胞培養基、細胞培養用試劑與細胞培養／處理耗材供應商 年報揭露主要原料為細胞培養基、試劑及相關耗材；供應商以品質與供貨穩定性為主要考量，關鍵原料有兩家以上替代供應來源，但年報以A、B、C、D、E匿名揭露，未提供可查證公司名稱。
  • 脂肪組織／細胞來源與臨床醫療合作體系 異體脂肪間質幹細胞庫與自體脂肪幹細胞治療需仰賴合規捐贈者篩選、醫療院所採檢與臨床合作；屬醫療服務與臨床供應來源，非單一上市櫃供應商。
  • PIC/S GMP與ISO檢測相關設備、潔淨室與冷鏈耗材供應商 細胞製劑生產與檢測需要潔淨室、無菌／內毒素／黴漿菌檢測、低溫保存與冷鏈設備；公開年報未揭露具名供應商。
Downstream
  • 台大醫院、長庚醫院、台北榮總、雙和醫院等醫學中心 ELIXCYTE膝骨關節炎第三期臨床與其他臨床試驗合作醫療院所；醫院非台股上市櫃公司。
  • 林口長庚醫院、亞東醫院、雙和醫院、三軍總醫院、高雄長庚、景美醫院、寶建醫院、新光醫院、台大醫院 特管辦法自體脂肪幹細胞治療退化性關節炎及膝關節軟骨缺損合作醫療機構；醫院非台股上市櫃公司。
  • 曼都國際／曼都集團 外泌體幹細胞分泌物於養髮護髮市場之策略合作與通路推廣對象；未查得台股上市櫃掛牌。
  • 日本化妝品原料客戶與海外代理／合作夥伴 公司揭露高濃度幹細胞分泌物外泌體已外銷日本作為化妝品原料，並規劃拓展韓國、東南亞等市場；公開資料未揭露完整客戶名稱。
  • 同業、學研單位與生技公司CDMO客戶 公司以PIC/S GMP細胞製劑廠提供細胞製劑委託開發暨製造服務與ISO檢測服務；年報銷售客戶以甲、乙、辰、卯等匿名揭露，未提供可查證公司名稱。

Competitors

  • 長聖國際生技 6712 上櫃公司，研究開發免疫細胞與幹細胞療法，為台灣細胞治療與再生醫療領域主要同業。
  • 訊聯生物科技 1784 上櫃公司，從事細胞治療應用、基因醫學與分子檢測服務，與向榮在細胞技術服務、再生醫療應用具競合關係。
  • 永立榮生醫 興櫃或非一般上市櫃同業，主要發展幹細胞培養技術與幹細胞相關新藥／消費品；因非上市櫃，stock_id依規範填null。
  • 健眾細胞生醫 台灣細胞治療與再生醫療相關公司，公開資料可見其與向榮同屬幹細胞新藥／細胞技術應用領域，但未查得台股上市櫃代號。
  • 國際細胞治療與再生醫療公司 包含美國、日本、韓國等地細胞治療或MSC產品開發商；多非台股掛牌，且各適應症、細胞來源、法規路徑不同，為潛在授權與臨床競爭者。
Sources（14）

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.