Skip to main content
Free trial

Ask AI to review this stock

Copy the prompt to get recent events, historical reactions, and a short research brief.

Tell your AI:

Help me set up FinLab and analyze 8291 尚茂. Please read: https://finlab.finance/en/setup?stock=8291

No install, open FinLab Studio

8291

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

quality needs a look, premium valuation.

1 active signal
Revenue ≥20%
This page refreshes daily after the close. Add 尚茂 to your watchlist to track signal changes on your next visit.
Valuation 6Quality 1Growth 93Momentum 95Chips 47

Is 尚茂 a buy? Fundamentals and valuation first

  • Weak profitability.Operating margin is in the 1th market percentile. Latest quarterly ROE ≈ -12.3%.

  • Valuation is high.PE is in the 98th market percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 0.2% of volume (net buy).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 110.2%, 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

Bearish -0.25
BearishNeutralBullish

Distribution to retail — bearish

  • Distribution to retail — bearish
  • 兆豐-中壢 holds 505 lots
  • sellers have 132 lots left, ~50 sessions to clear

Window from 2026-01-17 · Price +176% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 兆豐-中壢 has accumulated 505 lots since the start (sold 0%), still adding.
  • Main distributor 國泰-敦南 peaked at 75 lots, has sold 43%, 43 left, ~22 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders -0.04pp, mid holders -2, retail +7.48pp — drifting down to retail.
  • Foreign hedge-desk net short Net short -8 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-中壢中國信託-三重新光富邦-桃園台新證券群益金鼎-丹鳳
Distributing
國泰-敦南合庫-桃園中國信託-高雄國泰-板橋元大-雙和高橋-龍潭
Desks
own scale
永豐金-敦南群益金鼎-館前亞東統一-板橋
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 兆豐-中壢 +505
    sold 0%· still adding
  • 中國信託-三重 +302
    sold 0%· still adding
  • 新光 +242
    sold 1%
  • 富邦-桃園 +46
    sold 6%· still adding
  • 台新證券 +33
    sold 0%
  • 群益金鼎-丹鳳 +30
    sold 14%· still adding

Distributing

  • 國泰-敦南 43 left
    sold 43%· ~22 sessions to clear
  • 合庫-桃園 22 left
    sold 55%· ~10 sessions to clear
  • 中國信託-高雄 10 left
    sold 70%· ~4 sessions to clear
  • 國泰-板橋 5 left
    sold 85%· ~4 sessions to clear
  • 元大-雙和 6 left
    sold 79%· paused recently
  • 高橋-龍潭 5 left
    sold 77%· ~3 sessions to clear

Desks

  • 永豐金-敦南 -1,022
    unclassified
  • 群益金鼎-館前 -671
    unclassified
  • 亞東 -172
    unclassified
  • 統一-板橋 -48
    unclassified
Still selling 132 lots ~50 sessions to bottom at most
Recent buy/sell force +887 absorbed / -127 sold buyers slightly ahead
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 110.19%

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

37 historical occurrences (since 2011-11-29)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 47.8%, Sample 23, Median -1.9%, Excess +16.49%, Beat mkt rate 52.2%；60-day: Win 40%, Sample 20, Median -1.25%, Excess +4.56%, Beat mkt rate 30%；120-day: Win 36.8%, Sample 19, Median -5.08%, Excess -6.38%, Beat mkt rate 21.1%

120 days after: historical avg -0.33%

20-day +17.51%
60-day +9.24%
120-day -0.33%
20-day
60-day
120-day
Win
47.8%
40%
36.8%
Sample
23
20
19
Median
-1.9%
-1.25%
-5.08%
Excess
+16.49%
+4.56%
-6.38%
Beat mkt rate
52.2%
30%
21.1%

Over 19 occurrences, 120-day forward avg declined 0.33%, lagged the market by 6.38 pts; win rate 36.8%.

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.

10 times historically; 60-day forward avg -0.92%, win rate 33.3%, beating the market by -5.25 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.

What does 尚茂 do? Company profile

電子零組件業；銅箔基板／黏合膠片材料 櫃買中心上櫃

Overview

尚茂電子材料股份有限公司成立於1997年12月3日，總部／登記地址為桃園市大園區濱海路二段208號，統一編號16431363，股票於2011年11月29日上櫃掛牌，普通股每股面額新台幣10元。櫃買中心OpenAPI於2026-06-17出表資料顯示：董事長佐佐木Beji，總經理佐佐木Beji，發言人胡志強，實收資本額新台幣174,784,500元，已發行普通股17,478,450股，私募股7,215,210股，特別股0股，簽證會計師事務所為勤業眾信聯合會計師事務所，股票過戶機構為中國信託商業銀行代理部。主要股東與控制權方面，公開資料顯示大拓-KY與其子公司Daito Me Co., Ltd.於2018年完成公開收購後成為尚茂主要控制股東；截至2026年第1季末，大拓-KY及其子公司直接或間接持有尚茂約68.15%，董監持股資料亦顯示Daito Me Co., Ltd.為最大持股法人。公司於2024年8月8日董事會決議暫時停止生產，原因為外在環境與經營條件不利、生產成本壓力增加、近兩年虧損加劇及新技術產品開發仍需時間；2025年曾因繼續經營能力重大不確定性相關退場機制停止買賣，2026年2月25日起恢復櫃檯買賣但仍為變更交易方法證券。員工規模因停產與組織調整變動大，公開轉載資料曾列員工約47人，但公司資料亦提及已終止相關員工勞動契約，故不以單一人數作為穩定現況。

Business

尚茂原主要營業項目為銅箔電路基板（CCL）及黏合膠片／預浸材料（prepreg）之製造、加工、銷售，並從事相關零配組件買賣及進出口代理經銷。2024年8月停產公告明確指出，銅箔基板及黏合膠片占公司2024年1至6月營收比例為100%；停產前公司產能為銅箔基板1,920仟張、黏合膠片14,400仟米，2024年1至6月產量分別為銅箔基板8仟張、黏合膠片25仟米，暫時停產後產量降為0。商業模式原為購進銅箔、玻纖布、樹脂與相關化學材料後製成CCL與黏合膠片，供應PCB廠再加工成印刷電路板，終端應用涵蓋消費電子、家電、車用電子、高速運算、高頻通訊、雲端運算等；但目前營運重心已轉為清理庫存、維持小規模訂單與新產品技術開發。櫃買中心OpenAPI營收資料顯示，2026年5月單月營收新台幣330千元、年增110.19%，2026年1至5月累計營收2,323千元、年增214.77%，公司備註為訂單增加；但2026年5月公司澄清公告指出，近期營收變動主要係去年基期較低，並不代表本業獲利能力或營運體質已改善，且市場傳聞切入六軸機械手臂、無人化機器人等應用與事實不符，公司目前主要營業項目仍為銅箔基板及黏合膠片之生產與銷售。2026年第1季損益資料顯示營業收入1,098千元、營業毛損2,575千元、營業損失6,313千元、本期淨損8,578千元、EPS為-0.49元，顯示營運規模仍極低且仍虧損。

Outlook 2025–2028

2025至2028年的核心判斷是「財務重整後的轉型驗證期」，而非已確認的成長循環。2025年公司主要工作在減資彌補虧損、處理停止買賣風險、降低營運費用、清理庫存與維持最低營運；公開資料指出公司2025年8月曾因退場機制停止買賣，後因2025年度財報相關原因消滅而於2026年2月25日恢復交易，但仍為變更交易方法，代表資本市場風險尚未完全解除。2026年公司短期營收因基期極低而出現年增，但公司已公開澄清這不等於體質改善；2026年第1季仍為虧損，且累計虧損、借款與營運資金壓力仍需大股東、銀行續約及私募／減資等財務安排支撐。中長期成長動能主要來自與母公司大拓集團合作之新材料研發與客戶驗證，公開法說資料整理提到方向包括車用散熱基板、超薄銅箔雙面板、高精度直立蝕刻線路、陶瓷基板、高樹脂含量預浸料等；若能通過日本或台灣PCB客戶技術交流與認證，2027至2028年才可能逐步形成新訂單與恢復較具經濟規模的生產。產業趨勢上，AI伺服器、高速運算、車用電子、高頻高速通訊與散熱需求長期有利於高階板材，但尚茂目前規模、研發資源與財務能力相對弱，且傳統CCL市場競爭激烈、價格戰與原料成本波動仍是重大風險。主要風險包括：新產品驗證不如預期、未能恢復有效量產、客戶導入時間過長、資金缺口或銀行授信續約風險、淨值偏低導致持續全額交割或監理風險、股價受題材與籌碼影響而與基本面脫節。

Supply Chain

Upstream
  • 金居開發股份有限公司 8358 台股上櫃銅箔廠，銅箔為CCL主要原料之一；公開資料未確認為尚茂實際供應商，列為產業上游代表公司。
  • 榮科實業股份有限公司 4989 台股上櫃電解銅箔廠，屬CCL上游銅箔材料供應環節；公開資料未確認為尚茂實際供應商。
  • 南亞塑膠工業股份有限公司 1303 台股上市化工與電子材料大廠，環氧樹脂、玻纖、銅箔基板等材料與CCL產業鏈相關；公開資料未確認為尚茂實際供應商。
  • 台灣玻璃工業股份有限公司 1802 台股上市玻璃纖維／玻纖布相關廠商，玻纖布為CCL重要補強材料；公開資料未確認為尚茂實際供應商。
  • 長春集團 台灣未上市化工集團，環氧樹脂、酚醛樹脂等材料與CCL樹脂體系相關；公開資料未確認為尚茂實際供應商。
Downstream

Competitors

Sources（12）

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.