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1468

昶和 Textiles As of 2026-06-17 Updated daily after market close

steady quality, premium valuation.

1 active signal
Foreign buy
This page refreshes daily after the close. Add 昶和 to your watchlist to track signal changes on your next visit.
Valuation 31Quality 48Growth 6Momentum 28Chips 72

Is 昶和 a buy? Fundamentals and valuation first

  • Above-average profitability.Operating margin is in the 46th market percentile. Latest quarterly ROE ≈ 1.8%.

  • Valuation is high.PE is in the 89th market percentile; within its own history, PE is around the 77th percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 3.7% of volume (net buy).

  • Signals are active now.On the latest data, signals such as Foreign net buying 5 straight days are active — see the historical forward returns after each occurrence below.

Chip flow

Bullish +0.32
BearishNeutralBullish

Single-sided accumulation, concentration rising — bullish

  • Single-sided accumulation, concentration rising — bullish
  • 花旗環球 holds 59 lots
  • sellers have 30 lots left, ~30 sessions to clear

Window from 2026-01-17 · Price -1% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 花旗環球 has accumulated 59 lots since the start (sold 16%), still adding.
  • Main distributor 富邦-建國 peaked at 76 lots, has sold 64%, 27 left, ~30 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders +0.39pp, mid holders +0, retail -0.14pp — concentration shifting upward.
  • Foreign hedge-desk net short Net short -10 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
花旗環球凱基-台北元大證券台灣摩根士丹利元大-北屯摩根大通
Distributing
富邦-建國元大-三峽群益金鼎-中山元大-台北凱基台新-高雄
Desks
own scale
富邦-七賢永豐金-苓雅統一-台南康和-內湖
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 花旗環球 +59
    sold 16%· still adding
  • 凱基-台北 +53
    sold 18%
  • 元大證券 +35
    sold 0%· still adding
  • 台灣摩根士丹利 +27
    sold 10%
  • 元大-北屯 +26
    sold 0%· still adding
  • 摩根大通 +24
    sold 17%· still adding

Distributing

  • 富邦-建國 27 left
    sold 64%· ~30 sessions to clear
  • 元大-三峽 5 left
    sold 64%· paused recently
  • 群益金鼎-中山 4 left
    sold 64%· paused recently
  • 元大-台北 5 left
    sold 50%· paused recently
  • 凱基 3 left
    sold 40%· ~30 sessions to clear
  • 台新-高雄 1 left
    sold 80%· paused recently

Desks

  • 富邦-七賢 -160
    unclassified
  • 永豐金-苓雅 -28
    unclassified
  • 統一-台南 -24
    unclassified
  • 康和-內湖 -23
    unclassified
Still selling 30 lots ~30 sessions to bottom at most
Recent buy/sell force +35 absorbed / -10 sold buyers slightly ahead
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.

Foreign net buying for 5 straight days

Active · now 5%

Foreign net flow (ex-dealer) positive for 5 straight days; event on day 5; repeats within 20 days counted once.

23 historical occurrences (since 2012-09-27)
Average forward return after Foreign net buying for 5 straight days。20-day: Win 36.4%, Sample 22, Median -2.82%, Excess -2.49%, Beat mkt rate 36.4%；60-day: Win 35%, Sample 20, Median -4.24%, Excess -6.21%, Beat mkt rate 20%；120-day: Win 36.8%, Sample 19, Median -4.18%, Excess -12.47%, Beat mkt rate 21.1%

120 days after: historical avg -4.8%

20-day -2.16%
60-day -2.29%
120-day -4.8%
20-day
60-day
120-day
Win
36.4%
35%
36.8%
Sample
22
20
19
Median
-2.82%
-4.24%
-4.18%
Excess
-2.49%
-6.21%
-12.47%
Beat mkt rate
36.4%
20%
21.1%

Over 19 occurrences, 120-day forward avg declined 4.8%, lagged the market by 12.47 pts; win rate 36.8%.

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)
0-20 120-3.7% -0.4% 48.3% -51.5%
20-40 174-8.1% -7.9% 11.5% -47.4%
40-60 50+4.4% +6.5% 72% +16.8%
60-80 You are here200+0.8% +1.7% 59% -11.6%
80-100 352+5.5% +6.9% 62.2% -11.9%

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 ≈ 100.0, at the 77.4th percentile of its own history (60-80 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
-5.5%
Win rate 17.6% Excess -33.4%
204d
-1.4%
Win rate 42.6% Excess -5.8%
68d
-10.2%
Win rate 9.3% Excess -17.5%
226d
60-day momentum down
-0.7%
Win rate 48.8% Excess -12.6%
129d
+11.7%
Win rate 94.2% Excess +2%
121d
Now
+5.9%
Win rate 76.9% Excess -8.2%
268d

Currently in “Expensive (own-history top 1/3) × 60-day momentum down”: across 268 historical days, 120-day forward avg gained 5.9%, win rate 76.9%, lagged the market by 8.2%.

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.

252-day price high (breakout)

Pending

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

15 times historically; 60-day forward avg +1.88%, win rate 53.3%, beating the market by +0.48 pts on average.

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).

62 times historically; 60-day forward avg +1.57%, win rate 50.9%, beating the market by -0.82 pts on average.

What does 昶和 do? Company profile

紡織纖維 台灣證券交易所上市

Overview

昶和纖維興業股份有限公司，股票代號1468，為台灣證券交易所上市普通股，產業別為紡織纖維。公司成立於1982/04/10，掛牌上市日期為1999/01/21，統一編號36123364；實收資本額新台幣1,604,052,440元，已發行普通股160,405,244股，每股面額10元，無特別股與私募股。公司登記/營運地址公開資料列為桃園市蘆竹區南崁路一段277號，公司官網亦列企業總部為台北市大安區忠孝東路四段270號9樓。董事長兼總經理為陳明澤，發言人為葉佐偉。年報揭露截至2026/03/31從業員工183人，2025年度員工176人。主要關係企業包括Holy Finance Group Limited（BVI控股及投資）、昶和纖維（紹興）有限公司（各類布疋製造及銷售）與富昶建設股份有限公司（住宅及大樓開發及租售）。主要股東依公開資料包含泉祐科技股份有限公司、陳明澤、奈德國際股份有限公司、陳耀祥等；法人股東奈德國際股份有限公司主要股東為POWER WIDE ASIA GROUP INC.，持股100%。

Business

公司主要業務為各種纖維、極細與超極細纖維絲及染整布之製造及銷售，核心產品包括成衣用布、氣撚紗與其他加工/副料。2025年度營收結構為成衣用布新台幣556,344仟元、占67.24%；氣撚紗159,589仟元、占19.29%；其他111,479仟元、占13.47%；合計827,412仟元，較2024年度1,078,244仟元衰退23.26%。成衣布產品涵蓋COOLMAX吸濕排汗、THERMASTAT保暖、CORDURA高耐磨高強力布、AQUATOR透氣涼爽加工、SUPPLEX棉感抗UV、貼合/上膠塗布、防火阻燃布、降落傘布、ORGANOTEX非氟素防撥水、Microban抗菌防臭、尼龍布、交織布、印花布、健康機能布與極限運動布料；應用於運動服、戶外服飾、雪裝、旅行袋、機車裝、救生衣、帳篷、睡袋、嬰兒車、家飾、軍用降落傘、風箏衝浪、箱包與醫療/保健服飾等。氣撚紗主要供皮包、手提袋、手提箱及工作服使用。商業模式以接單生產、高度客製化、共同研發、染整/貼合/塗布/印花等後加工與國際品牌供應鏈合作為主；2025年度主要銷售地區為亞洲774,239仟元、占93.57%，國內49,813仟元、占6.02%，北美洲3,360仟元、占0.41%。公司年報揭露2025年度主要銷貨客戶以代號揭露，D客戶占年度銷貨21.08%，未公開實名。

Outlook 2025–2028

2025至2028年展望以高機能、環保永續、區域供應鏈重組與數位轉型為主軸。成長動能包括：一、國際品牌商對再生材料、低碳製程、碳足跡揭露、GRS/OEKO-TEX/Bluesign/HIGG等認證要求提高，有利具綠色製程與機能布料能力的供應商；二、戶外、運動、防護、工業用高強度布與特殊應用布料需求，支撐高附加價值產品；三、公司計畫深化歐美市場、拓展新客戶、增加代理商並建立品牌，降低單一市場依賴；四、公司規劃向東南亞及南亞增加投資或設立衛星工廠，逐步將歐美市場訂單自中國移出，以降低關稅與地緣政治風險；五、公司已於2024年制定2025-2030年五年研發藍圖，方向包含環保原料應用、能源效率優化、排水與碳排管理、智慧製程導入、良率提升與廢棄物減量。新產品/技術方向包括防水透氣、防風防潑水、抗菌防臭、高性能環保布料、回收寶特瓶與再生尼龍布料、室內環保建材、高強力工業用布、深海抗壓潛水布、耐候塗層帆布、風箏衝浪與帆船運動布料、貼合與複合單層材料、大氣電漿處理、無水後整理與產品生命周期評估LCA。主要風險包括全球需求復甦不確定、品牌庫存去化緩慢、中國化纖與紗線產能過剩及低價競爭、美元/新台幣/人民幣匯率波動、原油與石化原料成本波動、俄烏戰爭/中東衝突/紅海航運等地緣政治與物流風險、CBAM及碳費等法規成本、人力成本上升、資安與客戶資料保護要求，以及子公司富昶建設不動產開發與資金運用風險。2025年度公司營業收入衰退且營業損益轉虧，顯示短期仍受終端需求與產能利用率壓力影響；中長期關鍵在於高附加價值訂單、區域產能調整、綠色認證與研發商品化能否轉為實際毛利。

Supply Chain

Upstream
  • 新光合成纖維股份有限公司 1409 官網主力產品頁提及公司採用新光合纖的寶特瓶回收材料；屬台股上市化纖/再生聚酯相關上游供應來源。
  • 大愛感恩科技股份有限公司 官網主力產品頁提及公司採用大愛感恩科技的寶特瓶回收材料；非台股上市櫃公司。
  • 纖恒企業股份有限公司 年報揭露為2025年度主要供應商之一，採購金額180,839仟元、占進貨淨額33.55%，與發行人關係為董事長同一人；未查得台股上市櫃代號。
  • C公司 年報以代號揭露之主要供應商，2025年度採購金額54,573仟元、占進貨淨額11.17%，實名未公開。
  • E公司 年報以代號揭露之主要供應商，2025年度採購金額124,050仟元、占進貨淨額22.85%，實名未公開。
  • 胚布、紗線、染料助劑、漿料與化學藥劑供應商 年報及永續報告書揭露主要原料為胚布、紗線、染料與助劑、漿料、化學藥劑；供應商分布於台灣及中國等地，2024年累積供應商57家，第一階供應商22家占採購金額約80.6%。
Downstream
  • D客戶 年報以代號揭露之2025年度最大銷貨客戶，銷售金額174,380仟元、占銷貨淨額21.08%；實名未公開。
  • 成衣品牌商 永續報告書揭露下游主要為成衣品牌商，公司提供高度客製化及共同研發之產品與服務；多數實名未揭露。
  • 戶外、運動、防護、軍警、工業用布與箱包應用客戶 依年報產品用途推定之下游應用群，包括戶外裝備、極限運動服飾、軍警用服裝、旅行袋與行李箱、工業用高強度布料等；未揭露具體公司名稱。
  • GoLite 公司官網關於我們頁提及曾於2013年成立上海辦公室並與美國品牌GoLite進行策略聯盟；美國品牌，非台股上市櫃公司。

Competitors

  • 宏遠興業股份有限公司 1460 台股上市紡織纖維公司，業務涵蓋紡織、染整、機能布料等，與昶和在布料與染整加工領域具可比性。
  • 儒鴻企業股份有限公司 1476 台股上市紡織成衣大廠，具機能布料與成衣垂直整合能力；規模與客戶結構較昶和大，但在機能性紡織供應鏈具競爭/比較關係。
  • 聚陽實業股份有限公司 1477 台股上市成衣製造商，偏下游成衣供應鏈，與昶和在品牌客戶供應鏈中可能形成上下游或替代供應商比較。
  • 年興紡織股份有限公司 1451 台股上市紡織成衣公司，涵蓋布料與成衣相關產品，與昶和同屬紡織纖維產業。
  • 南緯實業股份有限公司 1467 台股上市紡織纖維公司，從事成衣、布料及相關紡織產品，與昶和同屬紡織纖維產業。
  • 佳和實業股份有限公司 1449 台股上市紡織公司，具織布、染整及加工等業務，與昶和在布料及染整加工領域具可比性。
  • 越南、孟加拉、印尼等地紡織與成衣供應商 年報指出歐美市場去中化供應鏈趨勢下，越南、孟加拉、印尼等地逐漸成為生產與加工重鎮；多為非台股掛牌或未逐一揭露公司名稱。
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.