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2301

光寶科 Computer & Peripherals As of 2026-06-17 Updated daily after market close

steady quality, fair valuation.

1 active signal
Revenue ≥20%
This page refreshes daily after the close. Add 光寶科 to your watchlist to track signal changes on your next visit.
Valuation 34Quality 70Growth 73Momentum 81Chips 27

Is 光寶科 a buy? Fundamentals and valuation first

  • Above-average profitability.Operating margin is in the 60th market percentile. Latest quarterly ROE ≈ 4.2%.

  • Valuation is neutral.PE is in the 63th market percentile; within its own history, PE is around the 94th percentile.

  • Foreign investors are net selling.Foreign 20-day net flow ≈ -1.5% of volume (net sell).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 29.6%, 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

Neutral -0.06
BearishNeutralBullish

Institutional rotation, concentration steady — neutral

  • Institutional rotation, concentration steady — neutral
  • 台灣摩根士丹利 holds 92,613 lots
  • sellers have 55,587 lots left, ~92 sessions to clear

Window from 2026-01-17 · Price +29% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 台灣摩根士丹利 has accumulated 92,613 lots since the start (sold 11%), now trimming.
  • Main distributor 香港上海匯豐 peaked at 35,168 lots, has sold 34%, 23,211 left, ~92 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders +0.09pp, mid holders +18, retail -0.29pp — concentration shifting upward.
  • Foreign hedge-desk net short Net short -35,472 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
台灣摩根士丹利美林永豐金-匯立富邦-南京合庫證券國泰-敦南
Distributing
香港上海匯豐新加坡商瑞銀花旗環球港商麥格理港商野村國票-安和
Desks
own scale
富邦證券群益金鼎美商高盛國泰證券
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 台灣摩根士丹利 +92,613
    sold 11%
  • 美林 +23,584
    sold 11%· still adding
  • 永豐金-匯立 +20,099
    sold 2%· still adding
  • 富邦-南京 +2,920
    sold 0%· still adding
  • 合庫證券 +2,772
    sold 19%· still adding
  • 國泰-敦南 +2,199
    sold 4%· still adding

Distributing

  • 香港上海匯豐 23,211 left
    sold 34%· ~92 sessions to clear
  • 新加坡商瑞銀 11,024 left
    sold 58%· ~17 sessions to clear
  • 花旗環球 9,820 left
    sold 58%· ~12 sessions to clear
  • 港商麥格理 10,600 left
    sold 25%· ~49 sessions to clear
  • 港商野村 4,301 left
    sold 30%· paused recently
  • 國票-安和 264 left
    sold 77%· ~12 sessions to clear

Desks

  • 富邦證券 -31,294
    unclassified
  • 群益金鼎 -19,722
    unclassified
  • 美商高盛 -17,635
    hedge desk · will cover
  • 國泰證券 -14,962
    unclassified
Still selling 55,587 lots ~92 sessions to bottom at most
Recent buy/sell force +11,195 absorbed / -20,461 sold sellers slightly ahead
Hedge-desk net short -29,708 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)

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.

Monthly revenue YoY ≥ 20% (from filing deadline)

Active · now 29.55%

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

33 historical occurrences (since 2007-04-23)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 48.3%, Sample 29, Median -0.3%, Excess -1.34%, Beat mkt rate 44.8%；60-day: Win 51.9%, Sample 27, Median +1.95%, Excess -4.06%, Beat mkt rate 40.7%；120-day: Win 51.9%, Sample 27, Median +0.04%, Excess -5.99%, Beat mkt rate 25.9%

120 days after: historical avg +5.25%

20-day -0.41%
60-day +0.58%
120-day +5.25%
20-day
60-day
120-day
Win
48.3%
51.9%
51.9%
Sample
29
27
27
Median
-0.3%
+1.95%
+0.04%
Excess
-1.34%
-4.06%
-5.99%
Beat mkt rate
44.8%
40.7%
25.9%

Over 27 occurrences, 120-day forward avg gained 5.25%, lagged the market by 5.99 pts; win rate 51.9%.

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)
0-20 184+31.7% +36.7% 100% +12.4%
20-40 500+29.3% +19.2% 85.4% +12.8%
40-60 676+16.5% +5.4% 61.7% +1.8%
60-80 641+14.7% +3.5% 56% +3.4%
80-100 You are here1042+21% +11.8% 73.3% +0.7%

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 ≈ 30.88, at the 94.0th 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
+14.8%
Win rate 88% Excess +8.4%
266d
+14.5%
Win rate 70.3% Excess +7.2%
647d
Now
+6.5%
Win rate 61.4% Excess -3.2%
1026d
60-day momentum down
+15.8%
Win rate 75.8% Excess +2.3%
273d
+7.7%
Win rate 61.3% Excess +2.5%
463d
+10.3%
Win rate 59.4% Excess +1.5%
488d

Currently in “Expensive (own-history top 1/3) × 60-day momentum up”: across 1026 historical days, 120-day forward avg gained 6.5%, win rate 61.4%, lagged the market by 3.2%.

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.

41 times historically; 60-day forward avg +7.17%, win rate 50%, beating the market by +3.05 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.

75 times historically; 60-day forward avg +5.57%, win rate 65.3%, beating the market by +1.05 pts on average.

What does 光寶科 do? Company profile

電腦及週邊設備業；核心子產業為電源供應器、雲端與AI資料中心電能管理、光電半導體、網通與消費性電子模組 臺灣證券交易所上市

Overview

2301 經臺灣證券交易所上市公司資料及公司年報確認為光寶科技股份有限公司，屬普通股、非ETF/ETN/權證。公司品牌源流創立於1975年，為台灣LED產業先驅，公司登記/現行上市公司資料常列成立日為1989/03/17，掛牌日期為1995/11/17；官方亦稱其為台灣首家上市電子公司。總部位於臺北市內湖區瑞光路392號。董事長為宋明峰，總經理為邱森彬。實收資本額依2026年2月資料約新臺幣23,167,757,630元，已發行普通股約2,316,775,763股；2026年5月股東會通過提高額定資本額至500億元，以保留AI、能源與新興技術布局及未來募資彈性。員工規模依2025年年報，2025年底合計36,153人，2026/02/28為35,380人，不含派遣員工。主要股東資料依2025年年報可辨識者包括宋恭源約79,302,560股、3.42%，台北富邦商業銀行受託保管復華台灣科技優息ETF專戶約77,362,000股、3.34%，新制勞工退休基金約60,718,716股、2.62%，明興投資約60,686,330股、2.62%，大松投資約47,088,399股、2.03%，中華郵政約46,777,799股、2.02%，公司庫藏股約40,000,000股、1.73%；上述為年報PDF擷取可確認項目，完整前十大仍應以公開資訊觀測站或年報原表為準。

Business

光寶以電子關鍵零組件與系統解決方案為主要商業模式，從傳統零組件/模組供應逐步轉向高功率電源、機櫃、儲能、液冷與AI資料中心系統級整合。2025年營收為新臺幣166,084,859仟元，年增約21%；EPS為6.64元，創歷史新高。2025年營收結構依年報：雲端及物聯網部門45%，設計、研發、生產及銷售資料中心、伺服器、網通設備、AI、物聯網、智慧裝置與智慧影像方案，產品包括伺服器電源、儲能/BBU、網通設備零組件、智慧影像裝置與物聯網裝置；資訊及消費性電子部門38%，應用於工作站、電競電腦、筆電、桌電、工業用、低軌衛星與遊戲機等，產品包括電源供應器與智慧輸入裝置；光電部門17%，產品包括LED光電半導體封裝、照明應用、汽車電子零組件、車用相機模組與電動車充電裝置模組。公司年報列示主要應用：LED光電元件用於隔絕、感測、光源、工控、綠能、5G基礎建設、電動車充電、安防、穿戴、AR/VR、自主移動機器人、車用照明與Mini LED；電源供應器用於個人電腦、通訊、遊戲機、智慧居家、低軌衛星、工業自動化，以及資料中心、AI伺服器與網通設備。2025年銷售地區以亞洲52.18%、美洲36.50%、歐洲10.62%為主，內銷僅0.46%。公司揭露主要產品具領先地位：光耦合器出貨量全球第一，電源供應器為全球前二大供應商。主要客戶未具名揭露，年報顯示2025年有單一客戶「甲」占銷貨淨額11.31%；下游客戶群為雲端、伺服器、電腦與消費性電子品牌客戶、ODM組裝系統廠與電子通路商。

Outlook 2025–2028

2025至2028展望核心在AI資料中心電力架構升級、雲端CSP資本支出、BBU取代/補充傳統UPS、機櫃級電源與液冷整合、光電半導體高階應用、5G/AI-RAN與低軌衛星電源。2025年公司營收與獲利回到成長軌道，雲端及AIoT為最大成長引擎；2026年公司官方表示將加速全球產能擴張，聚焦台灣、北美、越南，33kW Power Shelf與BBU出貨持續增加，50VDC Power Rack已量產，800VDC Power Rack進入測試，110kW Power Shelf即將量產，AI相關營收占比預期超過30%。2025年下半年至2026年，BBU在美國及台灣產線量產，新增BBU產能已被CSP客戶預定，並有新CSP客戶BBU出貨、後續PSU切入機會。中期到2027-2028，若NVIDIA與雲端服務商持續推進高功率AI機櫃，800V高壓直流、兆瓦級供電、液冷CDU/Manifold、Power Rack/Power Shelf與儲能整合方案將是主要成長動能；光寶已展示符合NVIDIA架構與OCP/ORV相關方向的電源、機櫃與液冷整合方案，並以高階光耦、紅外線、Mini LED、車用電子與新能源/儲能應用支撐非AI資料中心業務。公司短中長期策略為深化全球營運與產能配置、縮短設計到交付週期、升級高效能低碳產品、由零組件供應走向系統整合、擴大海外銷售與多角化分散市場。主要風險包括：AI伺服器與CSP投資節奏波動、客戶集中但未具名、產品驗證與量產時程不確定、台達電等同業技術與市占競爭、匯率波動、關稅與地緣政治、非中國區產能移轉成本、原物料/石油價格波動、記憶體漲價對PC終端需求影響，以及高功率電源/液冷產品安規與可靠度門檻。年報對2026市場估計：LED市場約130億美元、未來3至5年CAGR約6%；交換式電源供應器約594億美元、CAGR約6%；高階光耦合器2026至2030 CAGR近9%；低軌衛星相關需求2024至2030 CAGR近40%；上述為公司引用市場研究估計，非保證財測。

Supply Chain

Upstream
  • 億光電子工業股份有限公司 2393 台股上市LED封裝/光耦合器廠；新聞指出其光耦合器與SiC產品已打入台達電、光寶科供應鏈，屬光電半導體與功率元件上游供應關係。
  • Cosel Co., Ltd. 日本上市電源大廠；光寶2024年取得近兩成股權，雙方在產品開發、製造、全球布局與業務拓展合作，聚焦工業自動化、半導體設備、醫療、運輸、網通、新能源等利基型電源市場；非台股掛牌。
  • 模具沖壓件、半導體元件、電子主機板、電路板、感應器供應商群 年報列示之上游供應鏈類別；光寶未揭露2025年占進貨總額10%以上之主要供應商，因此個別公司無法確認。
  • 功率半導體、GaN/SiC、控制IC、電池芯、連接器與散熱零組件供應商群 依產品架構推估為AI電源、BBU、快充、液冷與資料中心電能管理系統所需上游；光寶年報揭露產品採第三代GaN、同步整流、控制IC等技術，但未公開指定供應商名稱。
Downstream
  • 北美大型CSP雲端服務供應商 光寶BBU、PSU、Power Shelf/Power Rack與液冷方案的主要需求來源；新聞與公司展望提及北美CSP及美國CSP客戶，但未揭露客戶名稱，可能包含美國上市或大型未具名雲端業者。
  • 客戶甲 2025年年報揭露單一銷貨客戶代號「甲」占全年銷貨淨額11.31%，2024年占12.02%；公司未揭露實名，無法判定是否上市。
  • 雲端、伺服器、電腦與消費性電子品牌客戶 年報列示下游客戶群；對應光寶伺服器電源、電源管理、智慧影像、物聯網、PC/遊戲機/低軌衛星電源與輸入裝置等產品。
  • ODM組裝系統廠與電子通路商 年報列示下游客戶群；台股中可能涵蓋伺服器/PC ODM族群，但光寶未逐一揭露客戶名單，故不填個別stock_id。
  • NVIDIA架構生態系 光寶於Supercomputing與GTC展示符合NVIDIA架構的電源、機櫃、液冷及800VDC方案；NVIDIA為美國上市公司，屬技術架構/平台生態系關係，非年報揭露直接銷貨客戶。

Competitors

  • 台達電子工業股份有限公司 2308 台股上市；全球電源、資料中心電力、散熱與AI伺服器電源龍頭，與光寶同為AI資料中心電力架構升級主要受惠與競爭者。
  • 群光電能科技股份有限公司 6412 台股上市；電源供應器與消費/資訊電源產品競爭者，亦被市場列為AI伺服器電源供應鏈相關公司。
  • 康舒科技股份有限公司 6282 台股上市；電源供應器、工業/通訊/伺服器電源廠，透過併購與高階電源布局切入資料中心與AI伺服器電源市場。
  • 全漢企業股份有限公司 3015 台股上市；電源供應器廠，與光寶在PC、工業、伺服器及高功率電源領域部分競爭。
  • 億光電子工業股份有限公司 2393 台股上市；LED封裝、光耦合器與車用LED廠，在光電半導體/光耦合器部分既可能為供應鏈夥伴，也可能在部分產品線競爭。
  • Vertiv Holdings Co. 美國上市公司；資料中心電力與熱管理基礎設施供應商，與光寶在資料中心電力/液冷系統解決方案層面存在競爭或替代關係，非台股。
  • Lite-On未具名國際電源與光電廠商 包括國際電源供應器、光耦合器、車用LED、資料中心液冷與網通設備廠；因年報未列個別競爭者，僅概括說明。
Sources（16）

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.