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Help me set up FinLab and analyze 1217 愛之味. Please read: https://finlab.finance/en/setup?stock=1217
1217
quality needs a look, fair valuation, no active signal today.
Is 愛之味 a buy? Fundamentals and valuation first
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Weak profitability.Operating margin is in the 33th market percentile. Latest quarterly ROE ≈ -0.8%.
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Valuation is neutral.PE is in the 46th market percentile; within its own history, PE is around the 21th percentile.
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Foreign investors are net buying.Foreign 20-day net flow ≈ 5.3% of volume (net buy).
Chip flow
Institutional rotation, concentration steady — bullish
Window from 2026-01-17 · Price -7% · branches to 2026-06-17· TDCC to 2026-06-12
- Largest holder 群益金鼎-宜蘭 has accumulated 789 lots since the start (sold 0%), holding.
- Main distributor 富邦-新竹 peaked at 285 lots, has sold 42%, 166 left, paused recently.
- TDCC big holders (absolute) >1000-lot holders -0.15pp, mid holders +0, retail +0.09pp — little change.
- Foreign hedge-desk net short Net short -2,057 lots (inferred from branch profile, mostly hedging — not necessarily bearish, not case-confirmed).
Accumulating
- 群益金鼎-宜蘭 +789
- 台新-信義 +502
- 美林 +490
- 國泰-台中 +380
- 元大-福營 +364
- 宏遠證券 +341
Distributing
- 富邦-新竹 166 left
- 元大-高雄 78 left
- 元富-信義 112 left
- 台新-新營 28 left
- 群益金鼎-永和 53 left
- 凱基-台南 39 left
Desks
- 凱基-台北 -1,764
- 元大-南京 -1,416
- 摩根大通 -998
- 華南永昌-民權 -525
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
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 | 1146 | -0.8% | -2.6% | 38.6% | -14.6% |
| 20-40 You are here | 533 | +6.7% | +2.6% | 55.7% | -14.7% |
| 40-60 | 426 | +14.7% | +6% | 73% | -16.9% |
| 60-80 | 108 | +16.8% | +30.3% | 57.4% | -31.5% |
| 80-100 | 136 | -4.4% | -1.7% | 47.1% | -23.5% |
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 ≈ 20.6, at the 20.9th 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 down”: across 653 historical days, 120-day forward avg gained 1.4%, win rate 56.2%, lagged the market by 5.3%.
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.
12 times historically; 60-day forward avg -2.8%, win rate 33.3%, beating the market by -10.74 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).
28 times historically; 60-day forward avg +3.3%, win rate 36.4%, beating the market by -0.34 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.
71 times historically; 60-day forward avg +2.34%, win rate 54.9%, beating the market by -2.34 pts on average.
What does 愛之味 do? Company profile
Overview
1217 對應證券為愛之味股份有限公司普通股，上市市場為台灣證券交易所，產業別為食品工業。公司成立於 1971 年 6 月 26 日，原名國本產業股份有限公司，1983 年 9 月正式更名為愛之味股份有限公司，1989 年 10 月 28 日上市。總部位於嘉義縣民雄鄉興南村頭橋工業區工業二路 11 號。主要營業項目為飲料、豆、菇、筍、醬菜等罐頭食品製造加工及買賣，並有商業大樓出租及出售等業務。董事長為陳冠翰，總經理為陳冠豪；2026 年 4 月 30 日主要股東中，持股 5% 以上者為和園投資股份有限公司，持股 30,388,258 股、比率 6.15%；前十大股東另包括耐斯企業、德商德意志銀行台北分行受託保管 SPDR、台灣第一生化科技、英吉利國際諮詢顧問、林容瑜、國寶投資開發、芳田實業、國本投資開發、翰田實業等。2026 年 3 月 31 日員工合計 622 人。實收股本為 4,945,133,360 元，流通在外普通股 494,513,336 股。
Business
愛之味為食品製造與品牌銷售公司，主要產品系列包括傳統系列、甜點系列、飲料系列、穀奶系列、油品系列、保健系列。公司自述全系列產品銷售至亞洲，客戶類型為零售業與盤商，主要通路為超市、量販店、全聯、便利商店、傳統商店及網路。2025 年產品營收結構為：飲料類 1,929,317 千元、38.32%；傳統類 1,080,612 千元、21.46%；穀奶類 1,030,277 千元、20.46%；甜點類 706,916 千元、14.04%；其他類 210,121 千元、4.17%；油品類 54,305 千元、1.08%；保健類 23,852 千元、0.47%。代表性產品包含鮮味脆瓜、土豆麵筋、牛奶花生、沖繩島黑八寶、健康油切分解茶、麥仔茶、純濃燕麥、植物油與保健產品。公司透過自有品牌、通路銷售、OEM/ODM/OBM 飲品解決方案與品牌授權合作營運；2017 年起與雀巢合作「雀巢茶品 Nestea」品牌授權，愛之味食品生技集團並結合台灣第一生化科技，具備無菌冷充填與利樂包無菌紙包產線。2025 年主要客戶全聯實業銷貨 1,170,129 千元、占銷貨淨額 23.24%；主要供應商台灣第一生化科技進貨 1,150,346 千元、占進貨淨額 36.01%。
Outlook 2025–2028
2025 至 2028 年展望重點在健康化、功能化、植物基、全通路與智慧製造。公司在 2025 年股東報告中提出由傳統食品製造企業轉向健康導向品牌營銷公司，成長引擎包括健康機能產品矩陣、品牌升級與年輕化、藍海市場商機，並計畫投入創新產品研發、品牌行銷與人才培育。產業面，台灣食品市場受高齡化、亞健康族群擴大、健康與機能飲品需求、即食便利食品、植物基飲食、電商平台與外銷市場帶動；公司將聚焦功能性食品、植物基、腸道健康、精準營養、低碳植物基食品、蛋白與能量飲品、燕麥與穀飲。營運面，公司規劃數據分析、OKR 與銷售數據整合，強化全通路、產品組合與供應鏈效率；製造面推動產線自動化、包裝、機器手臂、儲運設備與能源管理。高野健康生技園區正式量產銷售，並於 2025 年推出 OatBella 燕麥貝兒植物基創新食品，主打專利水解燕麥粉、燕麥蛋白飲、燕麥奶霜淇淋與燕麥奶相關應用，為 2025 之後的重要新產品與外銷/ODM/OEM 機會。主要風險包括國內食品市場規模有限、通膨推升原物料與包材成本、消費買氣疲弱、食品安全與法規要求、氣候變遷影響農產供應、地緣政治與貿易壁壘、同業與通路議價壓力、海外市場拓展不確定，以及高階經營與研發人才招募不易。2026 至 2028 具體財務預測未見公司正式量化揭露，因此不推估營收或獲利數字。
Supply Chain
- 台灣第一生化科技股份有限公司 未上市關係企業，為主要供應商；2025 年愛之味對其進貨 1,150,346 千元，占進貨淨額 36.01%，並提供飲品生產、無菌充填、OEM/ODM/OBM 等產能與集團供應鏈支援。
- 國內契作與國外進口農產品供應商 供應花瓜、菜心、越瓜、紅豆、辣椒、糯米、花生、茶葉、酸筍絲等主要原料；多為契作農戶或未具名供應商，非台股掛牌公司。
- 國外大宗原料與農產品供應商 供應煙台白菜、砂糖、蕃茄、燕麥、大麥、油品原料等進口原料；公司年報僅揭露來源與供應狀況，未揭露具名上市供應商。
- ANDRITZ GOUDA 荷蘭設備商，提供高野健康生技燕麥奶粉體廠滾筒乾燥機等設備；非台股掛牌公司。
- 全聯實業股份有限公司 未上市零售通路，為主要銷貨客戶；2025 年愛之味對全聯銷貨 1,170,129 千元，占銷貨淨額 23.24%。
- 超市、量販店、便利商店、傳統商店、網路通路與盤商 主要下游通路與客戶群，涵蓋零售業與盤商；多為未具名或未上市通路。
- 雀巢 國際食品公司，與愛之味自 2017 年起進行 Nestea 雀巢茶品品牌授權合作；雀巢為海外上市企業，非台股掛牌。
Competitors
- 統一企業 1216 台股上市食品與飲料龍頭，與愛之味在飲料、即食品、通路品牌與食品加工市場競爭。
- 味全 1201 台股上市食品公司，產品涵蓋飲料、乳品、冷藏食品與加工食品，與愛之味在飲品與食品品類競爭。
- 佳格 1227 台股上市食品公司，在穀物飲品、營養食品與保健概念食品具競爭關係。
- 泰山 1218 台股上市食品公司，與愛之味在飲料、甜點、油品與加工食品市場競爭。
- 黑松 1234 台股上市飲料公司，與愛之味在茶飲、機能飲料與一般飲料市場競爭。
- 聯華食品 1231 台股上市食品公司，與愛之味在休閒食品、即食品與食品品牌市場部分重疊。
- 大成長城 1210 台股上市食品與飼料公司，在加工食品、通路食品與餐飲供應鏈領域具廣義競爭關係。
Sources（10）
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.