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2015

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

steady quality, fair valuation.

1 active signal
Foreign buy
This page refreshes daily after the close. Add 豐興 to your watchlist to track signal changes on your next visit.
Valuation 71Quality 59Growth 21Momentum 34Chips 96

Is 豐興 a buy? Fundamentals and valuation first

  • Above-average profitability.Operating margin is in the 60th market percentile. Latest quarterly ROE ≈ 2.4%.

  • Valuation is neutral.PE is in the 28th market percentile; within its own history, PE is around the 64th percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 17.2% 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 +0.24
BearishNeutralBullish

Institutional rotation, concentration steady — bullish

  • Institutional rotation, concentration steady — bullish
  • 台中銀-豐原 holds 1,551 lots
  • sellers have 40 lots left, ~28 sessions to clear

Window from 2026-01-17 · Price -3% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 台中銀-豐原 has accumulated 1,551 lots since the start (sold 0%), still adding.
  • Main distributor 港商野村 peaked at 106 lots, has sold 85%, 16 left, paused recently.
  • TDCC big holders (absolute) >1000-lot holders -0.54pp, mid holders +7, retail +0.19pp — little change.
  • Foreign hedge-desk net short Net short -394 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
台中銀-豐原美商高盛新加坡商瑞銀摩根大通花旗環球兆豐-北高雄
Distributing
港商野村富邦-南員林凱基-高美館凱基-站前玉山-左營玉山-新莊
Desks
own scale
台新-台北元大證券富邦證券永豐金證券
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 台中銀-豐原 +1,551
    sold 0%· still adding
  • 美商高盛 +1,268
    sold 0%· still adding
  • 新加坡商瑞銀 +759
    sold 13%· still adding
  • 摩根大通 +641
    sold 0%· still adding
  • 花旗環球 +497
    sold 0%· still adding
  • 兆豐-北高雄 +442
    sold 0%· still adding

Distributing

  • 港商野村 16 left
    sold 85%· paused recently
  • 富邦-南員林 8 left
    sold 79%· ~3 sessions to clear
  • 凱基-高美館 4 left
    sold 89%· paused recently
  • 凱基-站前 22 left
    sold 29%· ~28 sessions to clear
  • 玉山-左營 21 left
    sold 28%· paused recently
  • 玉山-新莊 14 left
    sold 44%· paused recently

Desks

  • 台新-台北 -2,373
    unclassified
  • 元大證券 -831
    unclassified
  • 富邦證券 -679
    unclassified
  • 永豐金證券 -626
    unclassified
Still selling 40 lots ~28 sessions to bottom at most
Recent buy/sell force +1,462 absorbed / -58 sold buyers slightly ahead
Hedge-desk net short -384 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.

Foreign net buying for 5 straight days

Active · now 8%

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

61 historical occurrences (since 2012-06-21)
Average forward return after Foreign net buying for 5 straight days。20-day: Win 46.7%, Sample 60, Median -0.52%, Excess -0.81%, Beat mkt rate 43.3%；60-day: Win 56.9%, Sample 58, Median +1.09%, Excess -0.89%, Beat mkt rate 41.4%；120-day: Win 63.8%, Sample 58, Median +5.15%, Excess -3.3%, Beat mkt rate 46.6%

120 days after: historical avg +4.69%

20-day +0.08%
60-day +2.09%
120-day +4.69%
20-day
60-day
120-day
Win
46.7%
56.9%
63.8%
Sample
60
58
58
Median
-0.52%
+1.09%
+5.15%
Excess
-0.81%
-0.89%
-3.3%
Beat mkt rate
43.3%
41.4%
46.6%

Over 58 occurrences, 120-day forward avg gained 4.69%, lagged the market by 3.3 pts; win rate 63.8%.

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)
0-20 528+9.9% +10.6% 72.2% -7.6%
20-40 562+12.7% +12.8% 78.1% +4.5%
40-60 638+9.3% +11.1% 68.5% +0.3%
60-80 You are here703+17.9% +16.4% 81.2% -11.3%
80-100 555-5.5% -12.1% 25.2% -21.9%

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 ≈ 15.67, at the 63.6th 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
+4.8%
Win rate 73.7% Excess -0.8%
419d
+3.5%
Win rate 59.5% Excess +0.2%
721d
+5.5%
Win rate 61.3% Excess -7.4%
794d
60-day momentum down
+5.3%
Win rate 69.9% Excess +1.9%
385d
Now
+6.1%
Win rate 74.4% Excess -5.2%
407d
+0.8%
Win rate 53.4% Excess -13.2%
380d

Currently in “Mid × 60-day momentum down”: across 407 historical days, 120-day forward avg gained 6.1%, win rate 74.4%, lagged the market by 5.2%.

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.

34 times historically; 60-day forward avg +2.12%, win rate 58.8%, beating the market by +0.35 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).

69 times historically; 60-day forward avg +1.17%, win rate 62.1%, beating the market by +1.45 pts on average.

What does 豐興 do? Company profile

鋼鐵工業 台灣證券交易所上市

Overview

2015 對應證券為豐興鋼鐵股份有限公司，屬台灣證券交易所上市普通股，產業為鋼鐵工業。公司成立於1969年1月7日，1992年5月25日上市，總部與主要廠區位於台中市后里區甲后路一段998號；公司官網列示公司面積約389,200平方公尺。證交所OpenAPI於2026-06-16出表之上市公司基本資料顯示：董事長林大鈞、總經理林永源、發言人成德懿；實收資本額新台幣5,815,994,240元，已發行普通股581,599,424股，無特別股，簽證會計師事務所為安永聯合會計師事務所。公司官網基本資料頁列員工人數約845人；2026年第一季法人說明會簡報列員工人數約1,001人，兩者口徑或更新時點不同，本文以法說會資料作為較新營運口徑，並於notes標示差異。主要設備包括85噸直流電弧爐1座、100噸交流電弧爐1座、直列式軋鋼設備3套。主要股東部分，鉅亨網揭露前十大持股合計約14.03%，董事長林大鈞與其他董監經理人持股為重要內部人持股來源；本次未能從官方年報直連完整核驗最新前十大個別股東名單，故不列精確個別持股比例。

Business

豐興為台灣條鋼電爐廠，經營項目為製鋼、軋鋼、各式角鋼、扁鋼、槽鋼、鋼板、工字鋼、鋼筋、圓鋼與特殊鋼等製造、加工及買賣。公司定位為煉軋合一鋼廠，產品線涵蓋鋼筋、條線與型鋼三大類，官網產品包括鋼胚、等邊角鋼、槽鋼、方鋼、扁鋼、圓棒、盤元、鋼筋等。MoneyDJ資料顯示2024年產品營收比重約為鋼筋56%、條線24%、型鋼20%；2026年第一季法說會則顯示銷售金額組合為鋼筋49%、條線26%、型鋼25%，內銷約90%、外銷約10%。鋼筋主要用於住宅、廠房、RC/SRC建築、道路、橋梁、隧道與基礎工程；型鋼用於營建、廠房、造船、輸配電塔、機械、金屬製品與鋼骨結構；條線、圓棒與盤元用於螺絲螺帽、冷鍛、熱鍛、手工具、汽機車零件、機械構造件與易切削材料等。商業模式以採購國內外廢鋼及相關爐料，經電弧爐煉鋼與軋延後，透過營業部門、區域聯絡處、型鋼通路/加盟制度、盤商及直接工程或加工客戶銷售；公司也設有採購電子商務與銷售電子商務入口。鋼筋產品價格受國內營建景氣、建照面積、公共工程、科技廠房建設及廢鋼成本影響大；條線與型鋼因用途較分散且附加價值相對高，是公司改善產品組合與毛利的重要項目。

Outlook 2025–2028

2025至2028年展望屬景氣循環復甦與產品組合調整並行。2025年公司面臨全球鋼市低迷、高利率、國內房市降溫與建築用鋼需求下滑，法說/新聞資料指出2025年總銷量降至約148萬噸、稅後淨利22.54億元、EPS 3.88元；2025年前9月國內鋼筋表面消費量年減，建照核發下滑使鋼筋需求承壓。2026年第一季法說會顯示營收64.05億元、年減14%，鋼筋銷售金額年減22%、銷量年減15%，但毛利率12.8%優於2025年同期10.8%，EPS 0.91元高於2025年同期0.81元，顯示成本與價差改善可部分抵銷鋼筋量縮。成長動能包括：(1)全球鋼鐵需求依世界鋼鐵協會短期展望，2026年溫和復甦、2027年成長率反彈，公司法說引用2026年需求成長0.3%、2027年成長2.2%；(2)中國自2026年起對約300項鋼鐵產品實施出口許可證管理，若低價出口受抑制，有助亞洲鋼價秩序；(3)半導體與資通訊產業持續設廠及相關基礎建設仍支撐部分鋼筋用量；(4)公司策略轉向附加價值較高的棒線與型鋼，並於2026年股東會資訊中提到全新鋼筋加工產線預計第3季啟動，有望提升加工服務與客戶黏著度。主要風險與挑戰包括：(1)台灣住宅建照與推案降溫，鋼筋需求落後反映6至12個月，2026年前後仍可能偏弱；(2)廢鋼、鐵礦砂、小鋼胚等原料價格波動壓縮利差；(3)中國、越南及區域鋼材出口價格競爭與反傾銷/貿易壁壘變動；(4)電爐用電成本、碳費、低碳鋼材要求與環保投資壓力；(5)營造業信用風險、工程停工或天候因素可能影響接單與收款。2027至2028年若全球需求如預期復甦、台灣科技廠房/公共工程持續、公司高附加價值產品占比提升，營運有機會優於2025低基期；但住宅建築循環與中國鋼品出口政策仍是最大不確定性。

Supply Chain

Upstream
  • 國內廢鋼回收商與拆解業者 電弧爐煉鋼主要原料來源；多為未上市櫃或分散供應商，受國內廢鋼基價、拆船/拆解量與回收供需影響。
  • 國際廢鋼供應商與貿易商 進口廢鋼來源包含美國貨櫃廢鋼、日本2H廢鋼等市場報價；多為海外或貿易商，非台股掛牌公司。
  • 小鋼胚與爐料供應商 鋼胚、合金、電極、耐火材等爐料與半成品供應來源；公司具煉軋合一能力，鋼胚可部分自製，外部供應商名稱未公開完整揭露。
  • 台灣電力公司 電弧爐煉鋼高度耗電，電力為關鍵投入；台電為國營事業，未上市櫃。
Downstream
  • 營造商、建設公司與公共工程承包商 鋼筋主要終端應用為住宅、廠房、公共工程、道路、橋梁、隧道及基礎工程；具體客戶名單未公開完整揭露。
  • 型鋼經銷商與區域通路 型鋼透過中區、台北、高雄聯絡處及型鋼加盟/經銷體系銷售，應用於廠房、鋼骨結構、機械與金屬製品。
  • 螺絲螺帽、手工具、汽機車零件與機械加工業者 條線、圓棒、盤元供冷鍛、熱鍛、機械構造與易切削用途；多為下游加工廠或外銷供應鏈，公開資料未揭露主要客戶名稱。
  • 半導體與資通訊產業建廠工程供應鏈 公司與媒體資料指出科技廠房擴建可支撐部分鋼筋需求；此為終端需求來源或工程應用，不代表豐興直接供貨給特定上市公司。

Competitors

  • 東和鋼鐵企業股份有限公司 2006 台股上市鋼鐵廠，為國內鋼筋與H型鋼主要大廠，與豐興在鋼筋、型鋼與建築用鋼市場競爭。
  • 威致鋼鐵工業股份有限公司 2028 台股上市鋼筋與鋼鐵製品廠，媒體與產業資料常與豐興、東鋼、海光並列為國內鋼筋電爐廠競爭者。
  • 海光企業股份有限公司 2038 台股上市鋼筋廠，MoneyDJ資料列其國內競爭對手包含東鋼、豐興、威致等，與豐興在鋼筋市場競爭。
  • 中鋼構股份有限公司 2013 台股上市鋼構公司，並非鋼筋電爐廠，但在鋼構與型鋼相關工程應用市場具競合關係；與豐興關係偏下游/應用端競合。
  • 中國鋼鐵股份有限公司 2002 台股上市一貫作業鋼廠，產品線與豐興部分不同，但在鋼材價格、鋼胚/型鋼/鋼品供給與產業景氣上具指標性與部分競合關係。
  • 勤美股份有限公司 1532 台股上市公司，歷史上具鑄造與金屬材料業務；產業資料列為國內鋼筋市場相關競爭者之一，但現行業務結構與豐興並非完全同質。
  • 羅東鋼鐵廠股份有限公司 未上市櫃鋼筋/煉軋廠，104公司資料顯示其為東部地區鋼筋製造廠並規劃擴展鋼鐵材料，屬區域性競爭者。
Sources（17）

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.