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Help me set up FinLab and analyze 1210 大成. Please read: https://finlab.finance/en/setup?stock=1210
1210
steady quality, discounted valuation, no active signal today.
Is 大成 a buy? Fundamentals and valuation first
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Above-average profitability.Operating margin is in the 42th market percentile. Latest quarterly ROE ≈ 2.8%.
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Valuation is low.PE is in the 17th market percentile; within its own history, PE is around the 33th percentile.
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Foreign investors are net selling.Foreign 20-day net flow ≈ -34.8% of volume (net sell).
Chip flow
Single-sided accumulation, concentration rising — bullish
Window from 2026-01-17 · Price +5% · branches to 2026-06-17· TDCC to 2026-06-12
- Largest holder 群益金鼎 has accumulated 10,192 lots since the start (sold 0%), still adding.
- Main distributor 美林 peaked at 2,784 lots, has sold 85%, 427 left, ~3 sessions to clear at the recent pace.
- TDCC big holders (absolute) >1000-lot holders +1.62pp, mid holders -5, retail -1.68pp — concentration shifting upward.
- Foreign hedge-desk net short Net short -12,317 lots (inferred from branch profile, mostly hedging — not necessarily bearish, not case-confirmed).
Accumulating
- 群益金鼎 +10,192
- 國票-敦北法人 +7,690
- 華南永昌 +5,337
- 第一金 +4,641
- 凱基 +4,618
- 永豐金證券 +1,842
Distributing
- 美林 427 left
- 花旗環球 181 left
- 永豐金-大園 161 left
- 元大-大天母 61 left
- 第一金-路竹 106 left
- 元大-高雄 134 left
Desks
- 摩根大通 -8,554
- 台灣摩根士丹利 -4,075
- 新加坡商瑞銀 -2,813
- 富邦證券 -2,792
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
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 band | Sample days | 240-day avg return | Median | Win rate | Avg excess (vs index) |
|---|---|---|---|---|---|
| 0-20 | 749 | +8% | +11.7% | 73.3% | +1.6% |
| 20-40 You are here | 577 | +14.1% | +12% | 79.2% | -5.2% |
| 40-60 | 666 | +13.5% | +13.5% | 67.9% | -13% |
| 60-80 | 349 | +20.5% | +21.7% | 82.2% | +4.9% |
| 80-100 | 690 | +26.9% | +29% | 91% | +11.1% |
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 ≈ 13.06, at the 32.9th percentile of its own history (20-40 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.
Currently in “Cheap (own-history bottom 1/3) × 60-day momentum up”: across 776 historical days, 120-day forward avg gained 4.6%, win rate 62.6%, lagged the market by 0.7%.
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)
PendingAdjusted close makes a new 252-day high; repeats within 20 days counted once.
36 times historically; 60-day forward avg +0.72%, win rate 44.4%, beating the market by -2.72 pts on average.
Monthly revenue YoY ≥ 20% (from filing deadline)
PendingMonthly revenue YoY ≥ 20%; event date is the first trading day after the filing deadline (no look-ahead).
30 times historically; 60-day forward avg +1.35%, win rate 56.7%, beating the market by +4.87 pts on average.
Foreign net buying for 5 straight days
PendingForeign net flow (ex-dealer) positive for 5 straight days; event on day 5; repeats within 20 days counted once.
59 times historically; 60-day forward avg +5.06%, win rate 75.4%, beating the market by -1.41 pts on average.
What does 大成 do? Company profile
Overview
大成長城起源於1957年韓浩然、牟清善於台南創設黃豆榨油工廠，1960年標購「長城麵粉」跨入麵粉業，並於民國49年（1960）12月28日經經濟部核准設立公司，1978年5月20日於台灣證券交易所掛牌上市（代號1210）。總部位於台南市永康區蔦松二街三號，現任董事長為韓家宇（韓家為主要經營家族／大股東）。實收資本額約新台幣89.48億元（8,947,672,220元），已發行普通股約8.95億股（894,767,222股）。公司為集團控股核心，旗下含大成食品（亞洲）等子公司，營運橫跨台灣、中國大陸、越南，並於2024年併購美國Amy Food切入美國市場，員工規模達數千人（兩岸三地合計上萬人，依集團口徑）。
Business
屬垂直整合的農畜食品集團，業務主要分為四大板塊：1) 飼料事業（雞、鴨、鵝、豬、牛、羊、水產、鰻魚等飼料；台灣飼料年銷量逾140萬噸，市佔第一）；2) 肉品事業（白肉雞為核心，為台灣最大雞肉供應商，並推出『益活雞』『益生雞』等品牌，全程不用抗生素）；3) 大宗物資／油脂事業（黃豆、玉米進口加工，沙拉油、葵花油等）；4) 食品加工與品牌／餐飲（雞塊、嫩雞胸、雞精、麵食、與日本昭和產業合作之『上品語』生食級雞蛋等，2025年加工食品成長約11%）。商業模式為『從農場到餐桌』上下游一條龍整合（飼料—養殖—屠宰分切—食品加工—通路）。營運地區台灣、中國大陸、越南三地營收約各佔三分之一，美國併購後佔比尚小。主要客戶涵蓋連鎖速食（肯德基、麥當勞）、量販（好市多Costco）、超市、餐飲業者及食品加工廠等。2025年合併營收約1,012.22億元（年減約1.5%），毛利率回升至約15%，稅後淨利約36.24億元（年增約2.7%），EPS約4.33元（歷史次高），現金股利3.00元（歷史新高）。
Outlook 2025–2028
成長動能：1) 高附加價值與品牌化轉型，提升毛利（益活雞、上品語生食蛋、加工調理食品）；2) 海外擴張，視越南與美國為下一階段主要成長引擎（美國Amy Food併購後深化布局）；3) 近三年資本支出近100億元興建新廠與自動化，陸續投產／待投產者包括水產飼料廠（2025年7月投產，年產能14萬噸、產值約30億）、土雞加工廠（2026年1月投產，產值約3億）、全能生技廠（產值約12億）、肉品分切廠（產值約20億）、寵物食品廠（產值約5億），逐步貢獻營收與獲利。產業趨勢：寵物經濟、健康無抗生素肉品、食品安全升級、東南亞蛋白質需求成長。潛在風險與挑戰：地緣政治（中東衝突推升運費與原物料成本）、黃豆／玉米等國際大宗穀物與飼料原料價格波動、中國大陸豬價處歷史低點且競爭激烈拖累當地獲利、新台幣升值較快壓縮匯兌與避險空間、禽流感／非洲豬瘟等疫病風險。
Supply Chain
- 國際大宗穀物供應商（黃豆、玉米、小麥） 飼料與油脂主要原料，多自美國、南美（巴西、阿根廷）進口，國際貿易商如ADM、Cargill、Bunge等，非台股掛牌
- 種雞／雛雞與種源供應商 白肉雞養殖上游種源（如Aviagen、Cobb等國際種雞公司），多為國外未在台掛牌業者
- 動物保健、疫苗與添加劑供應商 飼料添加物、維生素、動物用藥與疫苗供應，部分為跨國未上市／海外上市廠商
- 契作養殖戶與代工養殖場 提供飼養與供雞來源，多為國內農戶／合作社，未上市
- 包裝材料與食品加工設備供應商 屠宰分切、加工自動化設備與包材供應，部分國內外未上市業者
- 連鎖速食業者（肯德基KFC、麥當勞McDonald's） 雞肉與加工品主要B2B客戶；台灣肯德基由怡和集團、麥當勞由國內加盟商營運，皆非台股掛牌
- 好市多 Costco 量販通路客戶，採購肉品與食品；母公司Costco為美國上市（NASDAQ: COST），非台股
- 超市、量販與餐飲通路 肉品、蛋品、油脂與加工食品銷售通路，含各大超市、餐飲業者，多元客戶
- 養殖／畜牧業者（飼料客戶） 飼料事業下游，銷售雞鴨豬牛羊及水產飼料予國內外養殖戶，多為未上市農牧戶
- 食品加工廠與品牌餐飲客戶 提供分切肉品、調理半成品與原料予下游食品廠及餐飲品牌
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.