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2007

燁興 Iron & Steel As of 2026-06-17 Updated daily after market close

quality needs a look, premium valuation, no active signal today.

This page refreshes daily after the close. Add 燁興 to your watchlist to track signal changes on your next visit.
Valuation 32Quality 9Growth 22Momentum 25Chips 79

Is 燁興 a buy? Fundamentals and valuation first

  • Weak profitability.Operating margin is in the 13th market percentile. Latest quarterly ROE ≈ -5.9%.

  • Valuation is high.PE is in the 99th market percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 5.6% of volume (net buy).

Chip flow

Bullish +0.25
BearishNeutralBullish

Institutional rotation, concentration steady — bullish

  • Institutional rotation, concentration steady — bullish
  • 花旗環球 holds 402 lots
  • sellers have 353 lots left, ~113 sessions to clear

Window from 2026-01-17 · Price -9% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 花旗環球 has accumulated 402 lots since the start (sold 0%), still adding.
  • Main distributor 統一-桃園 peaked at 329 lots, has sold 32%, 225 left, paused recently.
  • TDCC big holders (absolute) >1000-lot holders +0.00pp, mid holders +1, retail -0.09pp — little change.
  • Foreign hedge-desk net short Net short -740 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
花旗環球玉山-台南港商野村美商高盛華南永昌-楠梓元富-敦南
Distributing
統一-桃園摩根大通元大-中壢國泰-台中富邦證券新加坡商瑞銀
Desks
own scale
國票證券臺銀國泰-敦南元大-台南
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 花旗環球 +402
    sold 0%· still adding
  • 玉山-台南 +396
    sold 0%
  • 港商野村 +367
    sold 0%· still adding
  • 美商高盛 +340
    sold 1%· still adding
  • 華南永昌-楠梓 +310
    sold 0%· still adding
  • 元富-敦南 +300
    sold 0%

Distributing

  • 統一-桃園 225 left
    sold 32%· paused recently
  • 摩根大通 140 left
    sold 38%· ~16 sessions to clear
  • 元大-中壢 101 left
    sold 30%· paused recently
  • 國泰-台中 18 left
    sold 83%· ~11 sessions to clear
  • 富邦證券 40 left
    sold 60%· paused recently
  • 新加坡商瑞銀 51 left
    sold 48%· ~11 sessions to clear

Desks

  • 國票證券 -589
    unclassified
  • 臺銀 -472
    unclassified
  • 國泰-敦南 -440
    day-trade · selling pressure
  • 元大-台南 -332
    unclassified
Still selling 353 lots ~113 sessions to bottom at most
Recent buy/sell force +1,105 absorbed / -278 sold buyers slightly ahead
Hedge-desk net short -65 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)

Mixed direction: big-holder and retail changes are not aligned.

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 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.

9 times historically; 60-day forward avg +28.53%, win rate 55.6%, beating the market by +22.74 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).

66 times historically; 60-day forward avg -4.73%, win rate 31%, beating the market by -4.34 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.

34 times historically; 60-day forward avg +0.59%, win rate 42.4%, beating the market by -2.93 pts on average.

What does 燁興 do? Company profile

鋼鐵工業；線材盤元、不銹鋼與碳鋼線材 台灣證券交易所上市

Overview

代號2007經台灣證券交易所個股資訊與公開資訊觀測站轉載資料確認為燁興企業股份有限公司，屬上市普通股，產業類別為鋼鐵工業，主要經營業務為線材。公司成立於1978年7月18日，為義聯集團創立早期公司之一，總部與岡山廠位於高雄市岡山區寶米路369號，另有屏南廠位於屏東縣枋寮鄉東海村永翔路4之5號。上市日期為1988年10月4日。台灣證券交易所2026年6月17日產製資料列示實收資本額為新台幣5,306,516,130元；公開資訊觀測站轉載資料列示普通股發行股數530,651,613股、特別股0股。公司官網董事會資料列示董事長為吳林茂；公開資訊觀測站轉載之2025年9月公司基本資料列示總經理為黃傳祥，惟2024永續報告書文字曾列總經理為陳森龍，故總經理欄以較新公開資訊為準。員工規模依2024永續報告書為456人（截至2024年12月31日）。主要股東依公司官網主要股東名單：燁輝企業股份有限公司持股57.41%、燁聯鋼鐵股份有限公司持股16.15%，其餘主要股東持股比例明顯較低。公司關係企業包含燁輝企業、燁聯鋼鐵等義聯集團鋼鐵體系公司。

Business

燁興為線材盤元專業製造商，產品涵蓋不銹鋼線材、碳鋼線材、合金鋼線材、快削鋼線材、鋼筋及直棒等。公司官網說明岡山不銹鋼線材廠及屏南線材廠合計年產能約55萬公噸，尺寸規格約5.5mm至38.0mm；2024永續報告書以年產能50萬公噸描述。產品行銷全世界，主要供應下游客戶加工製造螺絲、螺帽、鋼線、鋼纜、鋼網、鋼鎖、彈簧、汽車零件、機械零件、家庭五金、手工具、電子產品與航太基礎零件。MoneyDJ資料列示2024年營收比重為不鏽鋼線材57%、非不鏽鋼系列線材43%；銷售區域比重為台灣約84%、外銷約16%，外銷市場以美國、東南亞、東北亞及歐洲為主。不鏽鋼線材內銷量約占台灣市場23.83%。商業模式為採購不銹鋼或碳鋼小鋼胚等原料，經軋延、酸洗、檢驗與品管後銷售線材盤元予扣件、金屬加工、汽車零件、機械零件、五金與其他製造業客戶；公司定位屬中游單軋線材廠，獲利受原料成本、鋼價、鎳價、匯率、產能利用率與下游製造業景氣影響較大。

Outlook 2025–2028

2025至2028展望屬中期推估，確定性有限。2025年台灣不銹鋼與鋼鐵線材產業仍面臨需求疲弱、印尼與中國低價鋼品競爭、原料價格波動及終端去庫存壓力；燁興2025年月營收自年初約5億元水準回落至第4季較低水準，全年每股盈餘仍為虧損，顯示營運仍在低谷。2026年截至5月營收已有月增回升跡象，市場報導指出鋼價連續調漲、旺季需求啟動、中國出口秩序重整、地緣政治趨穩與重建需求等因素可能支撐鋼鐵族群；若不銹鋼盤元與碳鋼盤元報價能順利反映原料成本，燁興毛利率有機會自低檔改善。2027至2028的主要成長動能預期來自高附加價值線材、特殊鋼種、航太與汽車零件用材料、扣件出口回溫、客戶技術協助與海外市場拓展；公司2024永續報告書亦揭露因應營運衰退的措施包括積極拓展新市場及增加高附加價產品銷售量。潛在風險包括鋼胚、鎳、鉻、能源與運費價格波動，低價進口品壓力，主要國家關稅、反傾銷或反補貼政策變動，碳費/碳稅與節能減碳投資成本，匯率與利率波動，下游螺絲螺帽、汽車、機械、電子與建築需求不如預期，以及公司近年連續虧損導致財務彈性受限。未見公司已正式公告2025至2028具體擴產計畫；既有資料較多著重既有岡山、屏南產能、品質認證、設備效率與市場拓展。

Supply Chain

Upstream
  • 燁聯鋼鐵股份有限公司 主要股東之一；MoneyDJ資料列示不鏽鋼小鋼胚主要由燁聯鋼鐵供應，小部分由國外進口。
  • 燁輝企業股份有限公司 2023 最大股東與義聯集團關係企業；官網列為關係企業，主要持股57.41%，與燁興同屬鋼鐵體系，但未確認為主要原料供應商。
  • 國外小鋼胚供應商 MoneyDJ資料列示碳鋼小鋼胚主要由國外進口，來源地包括俄羅斯、德國、英國、中國、日本等；未揭露具體供應商名稱。
  • SMS group 未上市或非台股掛牌；公司沿革與徵才資料提及岡山廠採用德國SMS軋延設備，屬歷史設備供應與技術來源之一。
Downstream
  • 螺絲螺帽與扣件加工業者 主要下游應用族群；燁興線材供應客戶加工製造螺絲、螺帽等，未揭露具體直接客戶名單。
  • 春雨工廠股份有限公司 2012 台股掛牌扣件與線材相關業者；屬下游扣件應用與同業競爭交集，未確認為燁興直接客戶。
  • 世鎧精密股份有限公司 2063 台股掛牌不銹鋼螺絲與扣件業者；為燁興產品可服務之下游應用族群，未確認為直接客戶。
  • 華祺工業股份有限公司 5015 台股上櫃不銹鋼螺絲與不銹鋼線材業者；同時可能位於下游扣件與線材競爭鏈，未確認為直接客戶。
  • 汽車零件、機械零件、手工具、家庭五金、電子產品與航太零件製造商 公司官網與永續報告書列示之終端應用；多為加工廠或終端產業，未揭露具體公司名稱。

Competitors

Sources（21）

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.