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Help me set up FinLab and analyze 1340 勝悅-KY. Please read: https://finlab.finance/en/setup?stock=1340
1340
quality needs a look, premium valuation, no active signal today.
Is 勝悅-KY a buy? Fundamentals and valuation first
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Weak profitability.Operating margin is in the 2th market percentile. Latest quarterly ROE ≈ -1.7%.
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Valuation is high.PE is in the 96th market percentile; within its own history, PE is around the 96th percentile.
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Foreign investors are net selling.Foreign 20-day net flow ≈ -2.7% of volume (net sell).
Chip flow
Single-sided accumulation, concentration rising — bullish
Window from 2026-01-17 · Price -17% · branches to 2026-06-17· TDCC to 2026-06-12
- Largest holder 群益金鼎-高雄 has accumulated 1,373 lots since the start (sold 3%), still adding.
- Main distributor 群益金鼎-三重 peaked at 210 lots, has sold 52%, 100 left, ~12 sessions to clear at the recent pace.
- TDCC big holders (absolute) >1000-lot holders +0.94pp, mid holders +2, retail -1.10pp — concentration shifting upward.
- Foreign hedge-desk net short Net short -631 lots (inferred from branch profile, mostly hedging — not necessarily bearish, not case-confirmed).
Accumulating
- 群益金鼎-高雄 +1,373
- 新光 +376
- 富邦-南京 +361
- 元富 +197
- 元大-屏南 +170
- 永豐金-板盛 +160
Distributing
- 群益金鼎-三重 100 left
- 永豐金-中正 46 left
- 統一-東湖 58 left
- 臺銀 40 left
- 美好-蘆洲 21 left
- 台灣摩根士丹利 27 left
Desks
- 港商野村 -893
- 凱基-台北 -608
- 元大-蘆洲中正 -293
- 美商高盛 -222
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 | 217 | -32.9% | -43.6% | 11.5% | -38.7% |
| 20-40 | 145 | -37.4% | -36.5% | 0% | -39.7% |
| 40-60 | 13 | Insufficient data | |||
| 60-80 | 0 | Insufficient data | |||
| 80-100 You are here | 0 | Insufficient data | |||
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 ≈ 105.59, at the 95.5th 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.
(20d)
(0d)
(19d)
(0d)
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.
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).
24 times historically; 60-day forward avg -3.73%, win rate 33.3%, beating the market by -7.29 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.
55 times historically; 60-day forward avg -4.55%, win rate 29.1%, beating the market by -8.61 pts on average.
What does 勝悅-KY do? Company profile
Overview
勝悅-KY(代號1340)為外國企業來台第一上市(KY股)之普通股。實際營運主體為塑膠鞋底製造商,起源於1997年,生產基地與總部位於中國福建省晉江市蓮嶼工業區;在台掛牌的控股母公司於2012年6月在開曼群島(Cayman Islands)註冊設立,2013年登錄興櫃、2014年1月14日於台灣證券交易所正式掛牌上市,為首家自中國來台掛牌的塑膠鞋材廠。董事長莊國清、總經理莊輝煌(家族經營)。實收資本額約新台幣15.29億元。福建廠區曾設約2棟廠房、6個生產車間、38條產線,配置雙色雙硬度射出機、單色射出機與二次發泡機等設備。股東人數眾多,截至2025年9月約5萬5千餘人,且以零股散戶為大宗。公司近五年未配息。
Business
主要營業項目為製造及買賣各式塑膠鞋底材料,核心產品包含塑膠射出鞋底、EVO高分子複合材料(EVA系發泡膠粒/中底材料),並以國內首創之『一次成型雙色雙硬度鞋底』為技術賣點。商業模式屬B2B鞋底零組件代工/供應,終端應用為運動鞋與休閒鞋,客戶涵蓋國際運動品牌(adidas、Reebok、Merrell、Fila、Diadora、Puma等)與中國品牌(安踏、喬丹、特步等)。惟自2018年第4季由盈轉虧後連年虧損,2024年起陸續關閉鞋底生產車間,最後的EVO車間於2025年7月停產,目前已不再生產鞋底及EVO膠粒;原福建廠房轉租予第三方物流公司收取租金,公司營業項目並擴及商辦大樓/廠房出租及旅館業之經營投資,本業已實質停止運作、轉向資產活化與轉型。
Outlook 2025–2028
本業(鞋底/鞋材)展望趨近歸零:2024年起逐步關廠、2025年7月EVO車間停產,鞋底與膠粒生產已全面終止,主要動能來自廠房出租租金。轉型方向為規劃發展品牌旅館事業,惟仍處籌備、設計與樣品房裝修階段,短期內難以貢獻顯著營收。財務面持續惡化:自2018Q4起連年虧損,2024年營收約3.76億元、每股虧損約5.28元;2025年上半年營收約1.33億元(年減約36.6%)、稅後虧損約1.05億元;2026年前5月累計營收僅約0.24億元、5月單月營收約0.07億元(年減約70%)。2025Q2每股淨值約17.19元,但股價長期低於淨值(股價淨值比約0.35倍),反映市場對本業消失與轉型不確定性的悲觀。主要風險與挑戰:本業停產致營收動能喪失、持續虧損侵蝕淨值並引發下市疑慮;旅館轉型執行風險高、資本投入大且回收期長;中國製鞋產業外移、終端需求疲弱與同業競爭;以及逾5萬名股東套牢的公司治理與投資人權益問題。整體2025-2028展望偏保守至負面,須密切觀察旅館事業能否落地、資產處分進度與是否觸及下市標準。
Supply Chain
- EVA(乙烯-醋酸乙烯共聚物)等高分子發泡原料供應商 鞋底/中底主要原料,屬產業常識推估;勝悅未公開揭露具體供應商名單,且採購多在中國當地,故stock_id為null。台灣EVA原料業者如台聚(1304)、亞聚(1308)為產業層面之原料來源參考,非經公司揭露之直接供應商。
- TPU、橡膠(RB)、PU等鞋底原料供應商 鞋底材質常見原料,屬產業推估,公司未揭露具體供應商,非台股掛牌或未確認。
- 射出成型機、發泡機等鞋機設備供應商 生產所需雙色雙硬度射出機、二次發泡機等設備供應商,公司未揭露具體名單,屬產業推估。
- adidas / Reebok 國際運動品牌客戶,採購塑膠鞋底,非台股掛牌(德/美等海外)。
- Puma / Merrell / Fila / Diadora 國際運動及戶外/休閒品牌客戶,鞋底終端應用,非台股掛牌。
- 安踏體育、特步國際、喬丹體育等中國品牌 中國運動鞋品牌客戶;安踏(2020.HK)、特步(1368.HK)為香港上市,喬丹體育為中國品牌,均非台股掛牌。
Competitors
- 寶成工業 9904 全球製鞋代工龍頭,定位為品牌成鞋代工(含自製鞋底),與勝悅之鞋底材料供應商定位不同,屬廣義鞋業同業,媒體曾將勝悅股價與其並列比較。
- 豐泰企業 9910 Nike主力製鞋代工廠,廣義鞋業同業,定位為成鞋代工而非鞋底材料供應,規模遠大於勝悅。
- 鈺齊-KY 9802 機能性鞋類/戶外鞋製造(以鞋面、成鞋為主),廣義鞋業同業,定位與勝悅之鞋底材料不完全相同。
- 中國各地塑膠鞋底/鞋材製造廠 福建晉江、莆田一帶眾多鞋底/鞋材廠為更直接之同業競爭者,多為未上市或於中國A股掛牌,非台股,故stock_id為null。
Sources（9）
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.