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 1522 堤維西. Please read: https://finlab.finance/en/setup?stock=1522

No install, open FinLab Studio

1522

堤維西 Automobile 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 堤維西 to your watchlist to track signal changes on your next visit.
Valuation 53Quality 23Growth 80Momentum 14Chips 10

Is 堤維西 a buy? Fundamentals and valuation first

  • Weak profitability.Operating margin is in the 25th market percentile. Latest quarterly ROE ≈ -0.2%.

  • Valuation is high.PE is in the 90th market percentile; within its own history, PE is around the 96th percentile.

  • Foreign investors are net selling.Foreign 20-day net flow ≈ -5.0% of volume (net sell).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 39.6%, 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 -0.41
BearishNeutralBullish

Distribution to retail — bearish

  • Distribution to retail — bearish
  • 聯邦-高雄 holds 433 lots
  • sellers have 246 lots left, ~68 sessions to clear

Window from 2026-01-17 · Price -40% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 聯邦-高雄 has accumulated 433 lots since the start (sold 0%), holding.
  • Main distributor 新光 peaked at 1,534 lots, has sold 28%, 1,104 left, paused recently.
  • TDCC big holders (absolute) >1000-lot holders -3.04pp, mid holders -11, retail +4.43pp — drifting down to retail.
  • Foreign hedge-desk net short Net short -1,962 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
聯邦-高雄玉山-台中臺銀-臺中華南永昌-彰化美好-楊梅亞東
Distributing
新光台新-高雄統一元大-萬華華南永昌-楠梓元大-金華
Desks
own scale
摩根大通美商高盛凱基-台北台灣摩根士丹利
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 聯邦-高雄 +433
    sold 0%
  • 玉山-台中 +420
    sold 0%· still adding
  • 臺銀-臺中 +369
    sold 3%
  • 華南永昌-彰化 +321
    sold 0%· still adding
  • 美好-楊梅 +310
    sold 0%
  • 亞東 +213
    sold 9%· still adding

Distributing

  • 新光 1,104 left
    sold 28%· paused recently
  • 台新-高雄 193 left
    sold 39%· paused recently
  • 統一 85 left
    sold 72%· paused recently
  • 元大-萬華 53 left
    sold 71%· ~4 sessions to clear
  • 華南永昌-楠梓 20 left
    sold 86%· ~2 sessions to clear
  • 元大-金華 24 left
    sold 82%· paused recently

Desks

  • 摩根大通 -3,814
    hedge desk · will cover
  • 美商高盛 -2,508
    hedge desk · will cover
  • 凱基-台北 -1,831
    day-trade · selling pressure
  • 台灣摩根士丹利 -1,433
    hedge desk · will cover
Still selling 246 lots ~68 sessions to bottom at most
Recent buy/sell force +1,037 absorbed / -377 sold buyers slightly ahead
Hedge-desk net short -40 lots potential cover-buying, not selling pressure
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 39.56%

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

36 historical occurrences (since 2007-04-23)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 57.1%, Sample 28, Median +1.08%, Excess -3.16%, Beat mkt rate 35.7%；60-day: Win 50%, Sample 26, Median +1.17%, Excess -7.44%, Beat mkt rate 26.9%；120-day: Win 43.5%, Sample 23, Median -8.85%, Excess -10.59%, Beat mkt rate 26.1%

120 days after: historical avg +1.15%

20-day -0.06%
60-day +0.66%
120-day +1.15%
20-day
60-day
120-day
Win
57.1%
50%
43.5%
Sample
28
26
23
Median
+1.08%
+1.17%
-8.85%
Excess
-3.16%
-7.44%
-10.59%
Beat mkt rate
35.7%
26.9%
26.1%

Over 23 occurrences, 120-day forward avg gained 1.15%, lagged the market by 10.59 pts; win rate 43.5%.

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)
0-20 833+27.3% +24.4% 75.8% +5.9%
20-40 626+10.2% -11.8% 38.8% -11.2%
40-60 720+7.3% -4.3% 40% -8.5%
60-80 552+19.5% +16.6% 66.3% +14.2%
80-100 You are here17Insufficient 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 ≈ 101.45, at the 95.7th 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.

Valuation
Momentum
Cheap (own-history bottom 1/3)
Mid
Expensive (own-history top 1/3)
60-day momentum up
+12.3%
Win rate 64.3% Excess +5.4%
622d
+3.9%
Win rate 49.9% Excess -2.2%
744d
-9.2%
Win rate 16.4% Excess -23.8%
232d
60-day momentum down
+7.8%
Win rate 62.8% Excess -3%
615d
+6.9%
Win rate 50.6% Excess -1.6%
427d
Now
+20.8%
Win rate 63.6% Excess +12.2%
228d

Currently in “Expensive (own-history top 1/3) × 60-day momentum down”: across 228 historical days, 120-day forward avg gained 20.8%, win rate 63.6%, beat the market by 12.2%.

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.

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.

27 times historically; 60-day forward avg +7.45%, win rate 59.3%, beating the market by +3.09 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.

60 times historically; 60-day forward avg +4.45%, win rate 55%, beating the market by -0.12 pts on average.

What does 堤維西 do? Company profile

汽車工業／汽車零組件／車燈 台灣證券交易所上市

Overview

1522 對應證券為堤維西交通工業股份有限公司普通股，非 ETF、ETN、權證或特別股；同公司另有 1522A 特別股，但本研究標的是 1522 普通股。公司成立於 1986-09-09，1997-10-06 於台灣證券交易所上市，總部位於台南市南區新樂路72之2號，董事長吳國禎，總經理蘇彥碩，實收資本額約新台幣34.29億元，已發行普通股約312,897,881股；2026年法說資料揭露集團全球員工約5,585人、全球14個營運據點，涵蓋銷售、物流、製造與研發，並有約300件車燈機構與設計專利。主要股東依公開資料包含國啟敏投資、億亨投資、啟敏投資等投資公司；公司治理頁顯示董事長由啟敏投資代表人吳國禎擔任。集團成員與關係企業包含台灣母公司、儒億科技、DBM Reflex of Taiwan、常州／重慶／昆山等中國據點、TYC Americas、TYC Europe、TYC Thailand、TYC Americas Auto Parts LLC等。

Business

堤維西是車燈與汽車碰撞替換零件廠，核心產品為汽車、巴士、卡車、曳引車、機車與速克達等車用照明產品，並提供 AM 售後維修市場的一站式零件服務，產品延伸至車鏡、冷卻風扇、水箱、冷凝器、鼓風機、窗戶升降機等汽車零件。商業模式分為 AM 與 OE／OEM／OES：AM 端以 TYC 品牌及海外通路供應北美、歐洲等維修替換市場；OE／OES 端則提供車燈設計、模具、工程、製造、組裝、倉儲與全球供應服務。2025年合併營收約新台幣244.2億元，較2024年201.2億元成長，毛利率約21.9%，EPS約1.72元；2025年7月大茂堤維西併表後，外部報導與法說整理指出營收結構由過去約AM 8成／OE 2成，轉為約AM 6成／OE 4成。主要客戶與終端應用包括汽車、巴士、卡車、農機、機車、速克達、電動車及原廠售後零件；公司法說揭露OEM／OES客戶包含 Ford、GM、Prevost、Blue Bird、Daimler Trucks North America、BMW、Ducati、Triumph、KYMCO、Sanyang、Suzuki、Mopar、GM Service、Ford Service、BMW Group 等。公司具 ISO 9001、IATF 16949、ISO 26262、ISO 14001、ISO 45001、CAPA、ECE、CCC、Ford Q1、AEO、TISAX 等品質、功能安全、環境、貿易與資安相關認證或資格。

Outlook 2025–2028

2025年：成長主軸來自大茂堤維西併表、AM車燈需求、北美與中國OE布局，但獲利受低毛利中國OE業務、美元匯率、新台幣升值、關稅不確定性與海外擴產折舊壓力影響；2025年營收創高，但毛利率由2024年約29.2%降至約21.9%，反映產品組合與併表稀釋。2026年：重點觀察大茂堤維西整合後毛利率改善、北美底特律／密西根新廠投產節奏、OE訂單放量及AM新品認證；公司與媒體資料顯示美國新廠主要供應北美OE車燈，原規劃2026年底量產，後續亦有提前小批量生產說法。2027至2028年：若北美在地化供應鏈順利放量，OE比重提高可降低單一AM市場依賴，並有機會承接電動車、智慧照明、LED與電控照明系統趨勢；但OE毛利率通常低於AM，且量產初期折舊、良率、客戶稽核、資本支出與營運資金壓力需觀察。產業趨勢方面，車燈由鹵素／HID走向LED、矩陣式／智慧化照明，AM市場則受車齡、碰撞維修、保險件、CAPA認證與歐美通路庫存影響。主要風險包含美國關稅與337智慧財產權調查外溢風險、匯率、北美AM競爭、原物料與塑膠／電子件成本、中國車市價格競爭、OE客戶拉貨遞延、海外廠量產不如預期，以及大茂堤維西低毛利業務整合不順。

Supply Chain

Upstream
  • 儒億科技股份有限公司 集團成員，產品含模具、汽機車燈具、鑰匙鎖、開關與服務件；未查得台股上市櫃代號。
  • DBM Reflex of Taiwan Co., Ltd. 集團合資關係企業，專注反射片電鑄模仁、光學與機構設計、電鑄製造與試模服務；未上市櫃。
  • TYC Changzhou Precision Mold Company 中國集團成員，專業生產車燈塑膠模具與工裝，屬車燈模具與零組件上游；非台股掛牌。
  • 台塑 1301 汽車燈殼、鏡片與塑膠零件產業上游常用塑膠原料供應商之一；未確認為堤維西直接供應商。
  • 南亞 1303 汽車零件產業上游塑膠、工程塑膠與電子材料供應商之一；未確認為堤維西直接供應商。
  • 台化 1326 汽車塑膠零件產業上游塑膠與化纖材料供應商之一；未確認為堤維西直接供應商。
  • 富采 3714 LED車燈產業鏈上游LED晶粒與封裝相關廠商；未確認為堤維西直接供應商。
  • 光寶科 2301 車用電子、LED與電源模組相關供應鏈公司；未確認為堤維西直接供應商。
Downstream
  • TYC Americas 集團北美銷售與物流公司，總部位於美國加州，營運美國5個大型配送中心，服務北美AM通路與OEM客戶；非台股掛牌。
  • TYC Europe B.V. 集團歐洲銷售與配送中心，供應歐洲AM車燈、碰撞替換零件與歐洲OEM物流服務；非台股掛牌。
  • Ford Motor Company 主要OEM／OES客戶之一，美國上市汽車公司，非台股掛牌。
  • General Motors 主要OEM／OES客戶之一，美國上市汽車公司，非台股掛牌。
  • Daimler Trucks North America 主要卡車OEM客戶之一，屬海外車廠體系，非台股掛牌。
  • BMW Group／BMW Motorrad 主要OEM／OES與機車車燈客戶之一，德國上市集團，非台股掛牌。
  • Ducati 主要機車OEM客戶之一，義大利品牌，非台股掛牌。
  • Triumph Motorcycles 主要機車OEM客戶之一，英國品牌，未於台股掛牌。
  • 光陽工業 KYMCO 主要機車／速克達客戶之一，台灣未上市公司。
  • 三陽工業 2206 法說資料列為 Sanyang，屬機車／速克達客戶之一，台股上市公司。
  • 上汽集團 中國OE客戶之一，A股上市公司，非台股掛牌。
  • 一汽集團 中國OE客戶之一，中國國有汽車集團，非台股掛牌。
  • 小米集團 媒體報導列為中國新能源車／OE相關客戶之一，香港上市公司，非台股掛牌。
  • 蔚來汽車 媒體報導列為中國新能源車／OE相關客戶之一，美國／香港上市，非台股掛牌。
  • 華為 媒體報導列為中國新能源車供應鏈相關客戶之一，未上市且非台股掛牌。

Competitors

  • 帝寶工業 6605 全球主要AM車燈供應商，以DEPO品牌行銷歐美，與堤維西在AM車燈高度競爭。
  • 東陽 1319 全球大型AM汽車塑膠件、鈑金與碰撞替換零件供應商，與堤維西在AM碰撞件通路與客戶端有部分競合。
  • 大億 1521 台灣OEM車燈廠，主攻原廠車燈配套；與堤維西在OE車燈與技術供應鏈屬同業。
  • 麗清科技 3346 LED車燈模組與車用照明相關供應商，偏向OEM與新能源車LED照明應用。
  • 聯嘉光電 6288 車用LED照明模組廠，偏向OEM車燈模組與LED應用，屬車燈電子化趨勢競爭者。
  • 耿鼎 1524 AM汽車鈑金件與碰撞替換零件廠，非車燈主業，但在北美AM汽車零件通路與終端維修市場具鄰近競爭。
Sources（20）

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.