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8032

光菱 Electronics Distribution As of 2026-06-17 Updated daily after market close

steady quality, fair valuation.

1 active signal
Revenue ≥20%
This page refreshes daily after the close. Add 光菱 to your watchlist to track signal changes on your next visit.
Valuation 65Quality 49Growth 84Momentum 71Chips 74

Is 光菱 a buy? Fundamentals and valuation first

  • Above-average profitability.Operating margin is in the 43th market percentile. Latest quarterly ROE ≈ 2.2%.

  • Valuation is neutral.PE is in the 39th market percentile; within its own history, PE is around the 82th percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 4.3% of volume (net buy).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 49.6%, 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 +0.19
BearishNeutralBullish

Institutional rotation, concentration steady — bullish

  • Institutional rotation, concentration steady — bullish
  • 元大-新莊 holds 151 lots
  • sellers have 181 lots left, ~102 sessions to clear

Window from 2026-01-17 · Price +25% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 元大-新莊 has accumulated 151 lots since the start (sold 2%), still adding.
  • Main distributor 合庫-台南 peaked at 190 lots, has sold 80%, 38 left, ~7 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders -0.08pp, mid holders +0, retail +0.07pp — little change.
  • Foreign hedge-desk net short Net short -66 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-新莊凱基-三多摩根大通美商高盛華南永昌-頭份陽信-石牌
Distributing
合庫-台南台灣摩根士丹利凱基-台北凱基-東勢新光凱基-板橋
Desks
own scale
美好富邦-新莊第一金-頭份元大-基隆孝二
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 元大-新莊 +151
    sold 2%· still adding
  • 凱基-三多 +137
    sold 0%
  • 摩根大通 +103
    sold 0%· still adding
  • 美商高盛 +90
    sold 13%· still adding
  • 華南永昌-頭份 +73
    sold 0%· still adding
  • 陽信-石牌 +49
    sold 0%

Distributing

  • 合庫-台南 38 left
    sold 80%· ~7 sessions to clear
  • 台灣摩根士丹利 132 left
    sold 25%· paused recently
  • 凱基-台北 65 left
    sold 56%· paused recently
  • 凱基-東勢 20 left
    sold 78%· ~6 sessions to clear
  • 新光 51 left
    sold 42%· ~102 sessions to clear
  • 凱基-板橋 19 left
    sold 68%· paused recently

Desks

  • 美好 -74
    unclassified
  • 富邦-新莊 -57
    unclassified
  • 第一金-頭份 -45
    unclassified
  • 元大-基隆孝二 -42
    unclassified
Still selling 181 lots ~102 sessions to bottom at most
Recent buy/sell force +567 absorbed / -169 sold buyers slightly ahead
Hedge-desk net short -44 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

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 49.6%

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

60 historical occurrences (since 2007-04-23)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 49.1%, Sample 55, Median 0%, Excess +0.88%, Beat mkt rate 45.5%；60-day: Win 52.8%, Sample 53, Median +1.88%, Excess +0.18%, Beat mkt rate 37.7%；120-day: Win 58%, Sample 50, Median +4%, Excess -2.22%, Beat mkt rate 44%

120 days after: historical avg +6.18%

20-day +2.38%
60-day +5.13%
120-day +6.18%
20-day
60-day
120-day
Win
49.1%
52.8%
58%
Sample
55
53
50
Median
0%
+1.88%
+4%
Excess
+0.88%
+0.18%
-2.22%
Beat mkt rate
45.5%
37.7%
44%

Over 50 occurrences, 120-day forward avg gained 6.18%, lagged the market by 2.22 pts; win rate 58%.

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)
0-20 403+2.8% +3.8% 68% -15.2%
20-40 499+1.3% -1.7% 43.9% -8.7%
40-60 478+0.7% -4.6% 46.7% -3.6%
60-80 582+11.4% +5.7% 61% -1.6%
80-100 You are here1081+24.3% +15.5% 75.6% -1.8%

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 ≈ 18.14, at the 82.5th 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
+1.8%
Win rate 55.3% Excess -4%
340d
+2.3%
Win rate 42.3% Excess -0.2%
508d
Now
+5.6%
Win rate 53.6% Excess -4.2%
841d
60-day momentum down
+3.1%
Win rate 60.3% Excess -4.4%
370d
+6.3%
Win rate 71.9% Excess +7.7%
260d
+14.4%
Win rate 58.1% Excess -1.3%
764d

Currently in “Expensive (own-history top 1/3) × 60-day momentum up”: across 841 historical days, 120-day forward avg gained 5.6%, win rate 53.6%, lagged the market by 4.2%.

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.

24 times historically; 60-day forward avg +14.49%, win rate 58.3%, beating the market by +10.6 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.

13 times historically; 60-day forward avg -4.52%, win rate 40%, beating the market by -12.22 pts on average.

What does 光菱 do? Company profile

電子通路業；半導體零組件代理與行銷通路服務 上櫃

Overview

8032 對應證券為上櫃普通股「光菱」，公司全名為光菱電子股份有限公司，英文名 Koryo Electronics Co., Ltd.。公司成立於 1987 年 8 月 15 日，2003 年 10 月 2 日上櫃，總部與聯絡地址為新北市汐止區新台五路一段79號9樓之7。董事長為廖順榮，總經理為陳建龍，發言人為帥緒廷。資本額約新台幣 5.18103 億元，已發行普通股 51,810,300 股，每股面額新台幣 10 元。2024 年年報揭露 2024 年底員工合計 102 人，2025 年 3 月 31 日為 103 人。主要股東依 2025 年 3 月 29 日停止過戶股東名冊，前十大包括東友科技 9,994,000 股、菱光科技 9,882,000 股、光友 5,854,418 股、呂全福 5,332,618 股、天達投資 5,089,000 股，以及兆世實業、黃林和惠、黃茂雄、兆世國際開發、李福星等；其中東友科技與菱光科技亦為法人董事。公司在上海、深圳、香港、馬來西亞檳城、日本東京等地設有海外服務據點或子公司，主要服務亞洲市場。

Business

光菱是專業半導體零組件行銷通路商，定位為上游原廠與下游電子產品製造商之間的技術型代理與通路服務商。公司代理經銷產品以特定應用 IC、分散式元件、微控制器為主，2024 年營收結構為：特定應用 IC 新台幣 1,665,874 仟元、占 57.65%；分散式元件 876,678 仟元、占 30.34%；微控制器 197,244 仟元、占 6.82%；其他 149,945 仟元、占 5.19%；合計營業收入 2,889,741 仟元。2024 年營業收入較 2023 年成長 7.00%，營業毛利 422,729 仟元、營業利益 83,185 仟元、稅後淨利 111,612 仟元、EPS 2.15 元。公司收入來源包括商品銷售收入與為客戶代購或安排電子零組件購銷交易之勞務收入；商品銷售在產品交付、客戶取得控制並負擔再銷售責任時認列，代理服務則在商品控制移轉且無後續義務時按淨額認列。主要代理品牌與產品線包含三菱電機半導體、瑞薩、京瓷、濱松光子學、THine、Isahaya、Torex、Valens、笙科、鈺群、笙泉、大辰、東沅、茂德、廣閎、東芝、峰岹、雅特力、安傑特、Telit、點序、群聯等；2024 年新增或推廣 Mobilint、耕源、芯旺等產品線，對應 AI、工業自動控制、物聯網、電源管理、網通、電腦週邊與消費電子等應用。下游終端應用涵蓋 AI 人工智慧、主機板與筆電、多媒體與系統週邊、通訊、工業、物聯網、工廠自動化、手持與消費性電子、汽車電子、公共運輸、基礎建設、儲能、節能與新能源。年報揭露 2024 年無單一銷貨客戶占全年銷貨淨額 10% 以上，客戶遍及國內外知名電子產品製造商；2024 年進貨方面，台灣三菱為唯一占進貨淨額 10% 以上供應商，進貨金額 524,885 仟元，占 23%。

Outlook 2025–2028

2025 至 2028 年展望以公司已揭露的 2025 年營運計畫與半導體通路產業趨勢推估：一、成長動能來自 AI、伺服器與高階運算相關需求、工業自動化、物聯網、5G、車用電子、儲能節能與新能源應用，這些領域提升對特定應用 IC、分散式元件、電源管理、微控制器與通訊模組的需求。公司 2024 年年報引用 WSTS 預期 2025 年全球半導體營收成長 11.2%，邏輯 IC 與記憶體為主要成長類別，分離式元件、光電子、感測器、類比則為溫和成長；這對光菱的半導體零組件代理業務形成產業順風。二、公司策略為鞏固既有產品線、建立新產品線代理、開發新客戶、導入互補性商品降低供應斷貨風險、提升既有客戶忠誠度、優化產品定價與組合、改善營運與績效管理、強化 FAE 技術支援、尋求轉投資或購併與策略聯盟。三、地區布局上，光菱已在中國、香港、馬來西亞與日本設點，馬來西亞據點被公司定位為服務東南亞與前進南亞印度等新興市場的重要跳板；若供應鏈分散與東南亞製造趨勢延續，2025 至 2028 年有機會增加海外客戶滲透率。四、風險與挑戰包括全球景氣循環、電子終端需求波動、中國內需疲弱、海外庫存去化速度、貿易保護主義與地緣政治造成供應鏈重組、代理權穩定性、原廠供貨與價格波動、美元匯率波動、存貨跌價與呆滯風險、同業大型通路商規模競爭，以及客戶集中度雖低但下游製造商景氣與策略調整仍會影響銷貨。五、2026 至 2028 的數字化營收或獲利預測未見公司正式公開指引，因此不列具體財務預估；本段屬公司公告策略與產業趨勢的保守推論。

Supply Chain

Upstream
  • 台灣三菱電機股份有限公司／三菱電機半導體 主要供應商與代理產品來源；2024 年進貨金額 524,885 仟元，占進貨淨額 23%，台灣三菱與三菱電機非台股上市櫃公司。
  • Toshiba Electronic Devices & Storage Corporation／台灣東芝電子零組件 代理產品線與經銷協定來源；屬日本東芝集團半導體與儲存元件業務，非台股上市櫃公司。
  • Renesas Electronics Corporation 代理產品線來源，瑞薩為日本上市半導體公司，非台股上市櫃公司。
  • KYOCERA Display Corporation 代理產品線來源；日系顯示相關元件供應商，非台股上市櫃公司。
  • Hamamatsu Photonics K.K. 代理產品線來源；日系光電半導體與感測元件供應商，非台股上市櫃公司。
  • Isahaya Electronics Sales Asia Ltd. 代理產品線來源；供應分立元件、電源與類比相關產品，非台股上市櫃公司。
  • 笙科電子股份有限公司 5272 光菱官網與年報列示之代理產品線之一，供應無線通訊 IC 等產品；台股上櫃公司。
  • 廣閎科技股份有限公司 6693 光菱年報列示之代理產品線之一，供應電源管理相關 IC；台股上櫃公司。
  • 群聯電子股份有限公司 8299 光菱年報列示之代理產品線之一，供應儲存控制晶片與相關產品；台股上櫃公司。
Downstream
  • 國內外電子產品製造商 主要客戶群；年報僅說明客戶遍及國內外知名電子產品製造商，且 2024 年無單一銷貨客戶占銷貨淨額 10% 以上，未揭露具名客戶。
  • 電腦多媒體、主機板、筆電與系統週邊廠商 終端應用客戶群之一；包含 AI、主機板、筆電、多媒體與系統週邊等應用，個別客戶未揭露。
  • 通訊、物聯網、工業控制與工廠自動化廠商 終端應用客戶群之一；公司提供通訊模組、微控制器、電源管理與相關零組件解決方案，個別客戶未揭露。
  • 車用電子、交通、儲能節能與新能源應用廠商 終端應用客戶群之一；公司年報列為主要產品用途與發展方向，個別客戶未揭露。
  • 菱光科技股份有限公司及南昌菱光科技有限公司 8249 菱光科技為法人董事與主要股東，財報揭露其及南昌菱光為關係人並有交易；南昌菱光為中國大陸關係企業，非台股掛牌，實際交易性質與金額需以財報附註為準。

Competitors

Sources（13）

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.