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8121

越峰 Electronic Components As of 2026-06-17 Updated daily after market close

quality needs a look, premium valuation.

1 active signal
252d high
This page refreshes daily after the close. Add 越峰 to your watchlist to track signal changes on your next visit.
Valuation 13Quality 34Growth 36Momentum 93Chips 73

Is 越峰 a buy? Fundamentals and valuation first

  • Weak profitability.Operating margin is in the 37th market percentile. Latest quarterly ROE ≈ 0.5%.

  • Valuation is high.PE is in the 85th market percentile; within its own history, PE is around the 43th percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 4.0% of volume (net buy).

  • Signals are active now.On the latest data, signals such as 252-day price high are active — see the historical forward returns after each occurrence below.

Chip flow

Bullish +0.96
BearishNeutralBullish

Single-sided accumulation, concentration rising — bullish

  • Single-sided accumulation, concentration rising — bullish
  • 摩根大通 holds 2,341 lots
  • sellers have 1,026 lots left, ~354 sessions to clear

Window from 2026-01-17 · Price +55% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 摩根大通 has accumulated 2,341 lots since the start (sold 0%), still adding.
  • Main distributor 富邦證券 peaked at 1,088 lots, has sold 67%, 354 left, ~354 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders +2.81pp, mid holders +3, retail -2.93pp — concentration shifting upward.
  • Foreign hedge-desk net short Net short -1,348 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
摩根大通新加坡商瑞銀富邦-仁愛台灣摩根士丹利永豐金-板新群益金鼎-西松
Distributing
富邦證券凱基群益金鼎-高雄統一元大-竹科富邦-北港
Desks
own scale
合庫-基隆中國信託-忠孝凱基-台北群益金鼎-中壢
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 摩根大通 +2,341
    sold 0%· still adding
  • 新加坡商瑞銀 +1,695
    sold 0%· still adding
  • 富邦-仁愛 +1,514
    sold 0%· still adding
  • 台灣摩根士丹利 +1,230
    sold 18%· still adding
  • 永豐金-板新 +1,225
    sold 0%· still adding
  • 群益金鼎-西松 +721
    sold 0%· still adding

Distributing

  • 富邦證券 354 left
    sold 67%· ~354 sessions to clear
  • 凱基 518 left
    sold 33%· paused recently
  • 群益金鼎-高雄 235 left
    sold 65%· ~16 sessions to clear
  • 統一 330 left
    sold 33%· paused recently
  • 元大-竹科 76 left
    sold 82%· paused recently
  • 富邦-北港 244 left
    sold 39%· ~20 sessions to clear

Desks

  • 合庫-基隆 -1,639
    unclassified
  • 中國信託-忠孝 -358
    unclassified
  • 凱基-台北 -330
    day-trade · selling pressure
  • 群益金鼎-中壢 -315
    unclassified
Still selling 1,026 lots ~354 sessions to bottom at most
Recent buy/sell force +8,412 absorbed / -476 sold buyers slightly ahead
Hedge-desk net short -606 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.

252-day price high (breakout)

Active

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

20 historical occurrences (since 2009-06-29)
Average forward return after 252-day price high (breakout)。20-day: Win 65%, Sample 20, Median +4.77%, Excess +11.93%, Beat mkt rate 60%；60-day: Win 63.2%, Sample 19, Median +10.52%, Excess +13.65%, Beat mkt rate 47.4%；120-day: Win 57.9%, Sample 19, Median +29%, Excess +20.86%, Beat mkt rate 47.4%

120 days after: historical avg +27.87%

20-day +13.13%
60-day +18.63%
120-day +27.87%
20-day
60-day
120-day
Win
65%
63.2%
57.9%
Sample
20
19
19
Median
+4.77%
+10.52%
+29%
Excess
+11.93%
+13.65%
+20.86%
Beat mkt rate
60%
47.4%
47.4%

Over 19 occurrences, 120-day forward avg gained 27.87%, beat the market by 20.86 pts; win rate 57.9%.

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 42+72.5% +49.3% 100% -21.9%
40-60 You are here127+180.1% +210.8% 92.1% +97%
60-80 324+34.4% +7% 56.5% -4.4%
80-100 204-14.3% -35.4% 22.5% -16%

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 ≈ 50.97, at the 43.1th 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)
+17%
Win rate 66.2% Excess -32.6%
77d
+17.7%
Win rate 40.7% Excess +6.1%
241d
60-day momentum down
-29.1%
Win rate 0% Excess -28%
63d
Now
+6.4%
Win rate 46% Excess -19.2%
215d
+50.6%
Win rate 56.6% Excess +33.2%
221d

Currently in “Mid × 60-day momentum down”: across 215 historical days, 120-day forward avg gained 6.4%, win rate 46%, lagged the market by 19.2%.

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.

Signals not active (historical stats for reference)

These are not occurring now; historical samples shown for comparison.

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).

53 times historically; 60-day forward avg +12.8%, win rate 47.7%, beating the market by +9.21 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.

56 times historically; 60-day forward avg -0.84%, win rate 40.7%, beating the market by -5.46 pts on average.

What does 越峰 do? Company profile

電子零組件業，被動元件上游磁性材料與碳化矽材料 上櫃，櫃買中心

Overview

8121 對應證券為越峰，英文名 ACME Electronics Corporation，為櫃買中心上櫃普通股，不是 ETF、ETN、權證或特別股。公司全名常見寫法為「越峯電子材料股份有限公司」，成立於 1991/09/05，由台灣聚合化學品股份有限公司轉投資創設，2005/02/17 掛牌上櫃，總部位於台北市內湖區基湖路39號8樓。董事長吳亦圭，總經理吳文豪，發言人王敏華。Yahoo 股市資料顯示截至 2026/06/16 股本為新台幣 2,129,937,430 元，已發行普通股 212,993,743 股，市場別為上櫃，所屬集團為台聚。公司官網揭露主要股東包含台聚公司、台聚投資公司等；公開公司登記資料顯示台灣聚合化學品股份有限公司、亞洲聚合股份有限公司、台達化學工業股份有限公司等台聚集團公司為董事法人代表或持股關係。法說資料彙整顯示截至 2025/10/31 員工人數約 1,831 人；ESG 頁面另揭露台灣台北辦公室及桃園廠 212 人、昆山與廣州廠 1,135 人、馬來西亞廠 377 人，合計約 1,724 人，與法說簡報口徑可能因日期或納入範圍不同而不同。主要營運據點包含桃園廠、中國廣州、昆山與馬來西亞 Acme Components / ACME Ferrite Products 等子公司或工廠。

Business

越峰主要從事電感類被動元件上游材料與零組件製造，核心產品為錳鋅及鎳鋅軟性鐵氧磁鐵芯、軟性鐵氧磁粉，以及碳化矽 SiC 相關產品。軟性鐵氧磁鐵芯可作為濾波器、抗流圈、電子安定器、電源供應器、各式變壓器、電感與通訊設備元件之上游材料，終端應用包含充電器、雲端伺服器、桌機、筆電、液晶顯示器、LED TV、智慧手機、車用電子與通訊網路設備。碳化矽產品屬低功耗、高效率、小型化功率半導體材料，可應用於太陽能逆變器、電動車、鐵路系統、5G/6G RF、低軌衛星、AR/VR 眼鏡、AI 伺服器電源與半導體設備耗材等。2025 年年報顯示 2025 年合併營收約新台幣 3,069,021 仟元；其中鐵芯銷售量 8,280 噸、金額 2,652,850 仟元，約占營收 86.4%；碳化矽粉銷售量 95 噸、金額 416,171 仟元，約占營收 13.6%。2024 年資料則顯示軟性鐵氧磁鐵粉及鐵芯約占 80%、碳化矽粉約占 20%。商業模式以材料配方、粉體製程、燒結、研磨加工、全球製造據點與客戶認證為核心，銷售給電感、濾波器、變壓器、電源模組、功率元件與半導體相關客戶；具體客戶名多未公開揭露。

Outlook 2025–2028

2025 年越峰面臨兩極化市況：鐵芯事業受惠伺服器與 AI 伺服器需求，抵銷部分電動車與消費性電子需求疲弱；SiC 產品則因歐美電動車需求放緩，導致功率元件用 SiC 拉貨延後，全年合併營收約 30.69 億元、年減約 1%，歸屬母公司業主淨損約 6,638 萬元、EPS -0.31 元。2026 年公司年報預期全年鐵芯銷售量 9,470 噸，較 2025 年 8,280 噸成長；法說摘要顯示 2026Q1 營收年增並轉盈，磁芯鐵氧體稼動率約 90%，碳化矽約 50% 至 60%。2026 至 2028 年主要成長動能包括：AI 伺服器與資料中心推升高頻、高效率磁性材料需求；HVDC 800V 等資料中心電源架構提高高階磁芯與 SiC 功率材料機會；半絕緣 SiC 粉體應用於 RF、軍工、太空、低軌衛星與 AR/VR；高純度 SiC 精密陶瓷燒結體與半導體設備耗材處於送樣與長認證週期，若通過客戶認證可能成為中長期新事業；馬來西亞 SiC 產能處於小量出貨與客戶放量驗證階段，2026 下半年被公司看作可能開始貢獻。主要風險包括：電動車需求不如預期、SiC 中國供應鏈價格競爭、半導體設備耗材認證期長達數年、產品組合變動造成毛利波動、較高折舊與利息成本、地緣政治與匯率風險、原物料價格及能源成本、主要客戶需求與庫存調整的不確定性。2027 至 2028 展望屬推估：若 AI 資料中心、高頻通訊、半導體設備耗材與 AR/VR 應用放量，越峰可能由鐵芯現金流搭配 SiC 新材料拉升獲利；但若 SiC 新應用認證延後或電動車復甦不足，營收與獲利彈性將受限。

Supply Chain

Upstream
  • 氧化鐵、氧化錳、氧化鋅、氧化鎳等磁性材料原料供應商 軟性鐵氧磁粉與磁鐵芯的主要原料供應端；公開資料未確認具體供應商名稱。
  • 高純度碳源、矽源及 SiC 粉體製程相關材料供應商 碳化矽粉體與高純度 SiC 陶瓷材料的上游材料供應端；公開資料未確認具體供應商名稱。
  • 燒結爐、研磨、檢測、MES 與自動化設備供應商 支援鐵芯燒結、研磨加工、品質控制與自動化製程；公開資料未確認具體供應商名稱。
  • 台灣聚合化學品股份有限公司 1304 創設投資者與台聚集團主要關係企業，公開資料確認為主要股東之一；未確認其為直接原料供應商。
  • 亞洲聚合股份有限公司 1308 台聚集團關係企業，公開公司登記資料顯示其為董事法人持股代表之一；未確認其為直接原料供應商。
  • 台達化學工業股份有限公司 1309 台聚集團關係企業，公開公司登記資料顯示其為董事法人持股代表之一；未確認其為直接原料供應商。
Downstream
  • 電感、濾波器、抗流圈、變壓器與電源供應器製造商 採用越峰軟性鐵氧磁鐵芯製造被動元件與電源相關零組件；具體客戶名稱多未公開。
  • 伺服器、AI 資料中心、通訊設備與車用電子供應鏈 為鐵氧磁鐵芯終端應用；公司揭露 AI、5G 通信、伺服器、資料儲存與車用電子需求為重要動能。
  • SiC 晶圓、功率元件、RF、低軌衛星、AR/VR 與半導體設備耗材客戶 採用或驗證越峰導電型、半絕緣型 SiC 粉體及高純度 SiC 陶瓷燒結體；公開資料未確認具體客戶名。
  • 電動車、再生能源、太陽能逆變器與風電供應鏈 為 SiC 功率元件材料的主要終端應用之一；2025 年因歐美電動車需求放緩導致拉貨延後。

Competitors

  • 國巨 2327 台股上市被動元件龍頭，旗下奇力新等電感與磁性元件事業與越峰下游應用重疊；非完全同一產品層級。
  • 台慶科 3357 台股上櫃電感與磁性元件廠，與越峰在電感、磁性元件應用鏈競爭或互為上下游替代選項。
  • 美磊 3068 台股上櫃電感元件廠，與越峰磁性材料終端應用領域相近。
  • 千如 3236 台股上櫃電感、線圈與磁性元件廠，與越峰下游應用領域相近。
  • 凱美 2375 台股上市被動元件廠，產品線與越峰部分終端市場重疊。
  • TDK Corporation 日本上市全球磁性材料、被動元件與電子材料廠，為國際競爭者。
  • Murata Manufacturing 日本上市全球被動元件龍頭，於電感、磁性元件與高階電子材料市場具競爭力。
  • Ferroxcube 未在台股掛牌，為國際鐵氧體磁芯與磁性材料供應商。
  • Proterial 日本企業，原日立金屬，於磁性材料與高階材料市場具競爭力。
  • Wolfspeed 美國上市 SiC 材料與功率元件公司，越峰法說摘要提及其可能部分外購粉末；在 SiC 產業鏈屬國際競爭或潛在客戶/供應鏈參照公司。
  • Resonac Holdings 日本上市材料廠，涉足 SiC 等半導體材料，為國際競爭者。
Sources（16）

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.