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 2345 智邦. Please read: https://finlab.finance/en/setup?stock=2345

No install, open FinLab Studio

2345

智邦 Communications & Internet 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 智邦 to your watchlist to track signal changes on your next visit.
Valuation 19Quality 86Growth 86Momentum 92Chips 68

Is 智邦 a buy? Fundamentals and valuation first

  • Above-average profitability.Operating margin is in the 73th market percentile. Latest quarterly ROE ≈ 13.6%.

  • Valuation is neutral.PE is in the 74th market percentile; within its own history, PE is around the 100th percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 2.9% of volume (net buy).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 56.6%, 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

Bullish +0.46
BearishNeutralBullish

Single-sided accumulation, concentration rising — bullish

  • Single-sided accumulation, concentration rising — bullish
  • 美商高盛 holds 6,258 lots
  • sellers have 3,761 lots left, ~197 sessions to clear

Window from 2026-01-17 · Price +114% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 美商高盛 has accumulated 6,258 lots since the start (sold 11%), still adding.
  • Main distributor 新加坡商瑞銀 peaked at 2,885 lots, has sold 69%, 887 left, ~84 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders +1.44pp, mid holders -9, retail -0.51pp — concentration shifting upward.
  • Foreign hedge-desk net short Net short -2,050 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
美商高盛台灣摩根士丹利摩根大通統一凱基群益金鼎
Distributing
新加坡商瑞銀元大證券永豐金證券國泰證券永豐金-匯立兆豐證券
Desks
own scale
港商麥格理花旗環球港商野村富邦證券
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 美商高盛 +6,258
    sold 11%· still adding
  • 台灣摩根士丹利 +4,369
    sold 0%· still adding
  • 摩根大通 +3,131
    sold 13%· still adding
  • 統一 +2,659
    sold 15%· still adding
  • 凱基 +2,443
    sold 1%· still adding
  • 群益金鼎 +890
    sold 7%· still adding

Distributing

  • 新加坡商瑞銀 887 left
    sold 69%· ~84 sessions to clear
  • 元大證券 514 left
    sold 81%· ~26 sessions to clear
  • 永豐金證券 1,048 left
    sold 30%· ~29 sessions to clear
  • 國泰證券 585 left
    sold 60%· paused recently
  • 永豐金-匯立 437 left
    sold 59%· ~30 sessions to clear
  • 兆豐證券 584 left
    sold 34%· ~188 sessions to clear

Desks

  • 港商麥格理 -3,962
    hedge desk · will cover
  • 花旗環球 -3,622
    hedge desk · will cover
  • 港商野村 -2,783
    hedge desk · will cover
  • 富邦證券 -2,093
    unclassified
Still selling 3,761 lots ~197 sessions to bottom at most
Recent buy/sell force +1,806 absorbed / -928 sold buyers slightly ahead
Hedge-desk net short -1,761 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 56.57%

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

84 historical occurrences (since 2007-04-23)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 63%, Sample 81, Median +5.03%, Excess +2.38%, Beat mkt rate 58%；60-day: Win 72.2%, Sample 79, Median +12.57%, Excess +10.33%, Beat mkt rate 72.2%；120-day: Win 86.8%, Sample 76, Median +29.61%, Excess +21.95%, Beat mkt rate 78.9%

120 days after: historical avg +31.71%

20-day +4.02%
60-day +15.02%
120-day +31.71%
20-day
60-day
120-day
Win
63%
72.2%
86.8%
Sample
81
79
76
Median
+5.03%
+12.57%
+29.61%
Excess
+2.38%
+10.33%
+21.95%
Beat mkt rate
58%
72.2%
78.9%

Over 76 occurrences, 120-day forward avg gained 31.71%, beat the market by 21.95 pts; win rate 86.8%.

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 0Insufficient data
20-40 54+12.9% +14.1% 100% +0.6%
40-60 144+113.8% +105.7% 96.5% +92.8%
60-80 647+104.6% +89.5% 99.1% +80.9%
80-100 You are here2198+39% +36.1% 78% +24.9%

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 ≈ 47.18, at the 99.6th 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%
Win rate 100% Excess +9.1%
52d
+70.4%
Win rate 97.3% Excess +60.6%
110d
Now
+19.6%
Win rate 71.4% Excess +10.7%
2032d
60-day momentum down
Insufficient data
(0d)
+60.5%
Win rate 100% Excess +49%
193d
+25.9%
Win rate 78.4% Excess +19.3%
776d

Currently in “Expensive (own-history top 1/3) × 60-day momentum up”: across 2032 historical days, 120-day forward avg gained 19.6%, win rate 71.4%, beat the market by 10.7%.

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.

51 times historically; 60-day forward avg +12.19%, win rate 68.6%, beating the market by +6.62 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.

69 times historically; 60-day forward avg +9.68%, win rate 56.5%, beating the market by +5.05 pts on average.

What does 智邦 do? Company profile

通訊網路、網路通訊設備ODM/JDM、資料中心交換器 台灣證券交易所上市

Overview

2345 對應智邦科技，為台灣證券交易所上市普通股。公司成立於 1988/02/09，掛牌日期 1995/11/15，總部/登記地址為新竹縣竹北市北興里智慧一路1號，官網頁尾另列新竹科學園區研新三路1號。Yahoo 股市基本資料列董事長黃國修、總經理李訓德、股本新台幣5,611,178,970元、已發行普通股561,117,897股、產業類別通訊網路；2024公司年報則列董事長黃國修、執行長暨總經理石軍，顯示來源間對總經理資訊存在時間差。2024年報揭露 2024 年合併營收新台幣1,104.25億元、合併稅後淨利新台幣120.00億元；2026年5月公司自結單月合併營收新台幣28,622,864仟元、年增56.58%，2026年1至5月累計新台幣126,103,906仟元、年增60.01%。從業員工數：2024年報表格顯示 2024 年3,981人，至 2025/03/31 為4,165人。主要股東依2024年報、基準日2025/04/14：金捷敏股份有限公司45,113,765股、8.04%；新制勞工退休基金14,042,380股、2.50%；永豐商業銀行受託保管昇陽投資有限公司投資專戶12,983,664股、2.31%；國泰人壽9,683,000股、1.73%；大通託管挪威中央銀行投資專戶9,348,386股、1.67%；富邦人壽8,440,000股、1.50%；寬鑫投資7,070,000股、1.26%；花旗銀行託管新加坡政府基金專戶6,565,249股，約1.17%。

Business

智邦是網路通訊設備設計、研發與製造公司，從傳統 ODM 延伸至 JDM、開放式網路與AI基礎設施解決方案。2024年產品營收比重：網路交換器57%、網路應用設備36%、網路接取設備4%。主要產品與服務包括資料中心交換器、乙太網路交換器、100G/400G/800G高速交換器、102.4T AI基礎架構交換器、無線基地台與閘道器、FWA、5G行動基地台回傳路由器、GPON/XGS-PON OLT、10G/100G智慧網卡、IoT、毫米波、SD-WAN/vCPE/uCPE、AI交換器、光交換器、光模組、AI伺服器、AI推理運算卡、AI訓練加速模組、Smart NIC、液冷與電源解決方案。商業模式以ODM/JDM為主，協助全球網通品牌、超大規模雲端業者與電信業者進行設計、共同開發、量產、供應鏈與製造服務，並透過子公司鈺登科技 Edgecore 經營開放網路品牌與通路。2024年銷售地區以外銷為主，外銷占99%，其中美洲74%、歐洲11%、亞太14%、內銷1%。2024年報揭露主要銷貨客戶採匿名：甲客戶2024年占銷貨32%、乙客戶12%；2025年第一季甲客戶占47%、乙客戶10%，顯示客戶集中度偏高。公司官網描述客戶包含全球頂尖網路供應商、全球頂尖超大規模運算業者、財富500強、全球20大企業與電信業者；公開頁面客戶證言包括 Intel Habana、Fujitsu Photonics、Amazon Annapurna 相關人士。

Outlook 2025–2028

2025至2028年核心展望為AI資料中心網路頻寬升級、CSP資本支出、400G/800G/1.6T交換器世代轉換、AI加速器/推理/訓練模組、光通訊與液冷等系統整合需求。2024年報指出 51.2T交換器與800G光纖接口已獲廣泛採用，正推進102T交換器與1.6T互連光學技術，並持續開發AI交換器、CXL交換器、Smart Appliance、AI訓練與推理解決方案、光交換器、光模組、AI伺服器、Smart NIC、液冷系統與電源解決方案。短期計畫包括擴大 Open Compute Project 10G/40G/100G/400G/800G產品線、與軟體廠商形成晶片/硬體/軟體/應用生態、參與TIP開放電信架構；長期計畫包括維持開放網路硬體平台領導、擴大晶片與軟體合作、透過Edgecore品牌推廣自研產品。產業面，AI工作負載推升低延遲高頻寬乙太網交換器需求；年報引用IDC/Dell'Oro/Gartner觀點，資料中心基礎設施訂單與積壓訂單支撐未來數年成長，但到2027年部分AI資料中心可能受限於電力供應。2026年1至5月累計營收年增60.01%，顯示AI與資料中心需求仍強。法人/媒體資料推估800G交換器於2026與2027年營收占比可能分別達約15%與20%，但此非公司正式財測。主要風險包括：客戶集中度高、AWS/大型CSP平台轉換或ASIC世代交替造成季度波動；高速交換器、AI加速器與光模組規格迭代快，研發與驗證失誤會影響出貨；關鍵晶片、光元件、PCB、散熱、電源與製造產能供應瓶頸；美中科技管制、關稅與地緣政治促使產能需在台灣、越南、美國等地分散；Open Networking成熟後吸引伺服器/儲存/大型EMS競爭，可能壓縮毛利；AI資料中心電力、散熱與液冷導入節奏若不如預期，也會影響高階產品放量。2028年前的較合理情境是智邦仍受惠AI資料中心網路升級，但成長品質取決於新客戶拓展、800G/1.6T良率、光通訊與液冷整合能力、以及客戶集中度是否下降。

Supply Chain

Upstream
  • Broadcom 美國上市半導體公司；智邦官網列為頂級半導體/技術合作夥伴之一，供應高速交換晶片、網通ASIC或相關方案。
  • Marvell Technology 美國上市半導體公司；智邦官網列為頂級半導體/技術合作夥伴之一，與高速網路、資料中心與光通訊晶片生態相關。
  • Intel 美國上市半導體公司；智邦官網列為技術合作夥伴，且公司頁面有 Habana/Intel 客戶或夥伴證言；關聯於AI加速器、伺服器與網路平台。
  • AMD 美國上市半導體公司；智邦官網列為頂級半導體/技術合作夥伴之一，可能關聯AI/伺服器運算平台。
  • 高速光模組、PCB、散熱、電源供應器、風扇、機構件與測試設備供應商 年報未逐一揭露具名供應商；公司表示主要晶片商與主要零件商會提供12至18個月需求預測，重要零組件維持至少兩家供應商，並以SCM cloud、VMI與安全庫存管理交期。
Downstream
  • Amazon / Annapurna Labs 美國上市集團旗下雲端/ASIC相關單位；智邦官網公司簡介出現 Annapurna 硬體系統主管證言，媒體亦常將AWS列為重要CSP客戶，但具體銷售占比公司未公開確認。
  • Google / Alphabet 美國上市集團；市場與券商文章稱智邦直接供貨大型CSP如Google，屬媒體/法人推估，非公司年報具名揭露。
  • Meta Platforms 美國上市集團；市場與券商文章稱智邦供貨大型CSP如Meta，屬媒體/法人推估，非公司年報具名揭露。
  • 全球頂尖網路供應商、財富500強、全球20大企業與電信業者 智邦官網正式描述之客戶群；年報銷貨客戶以甲、乙匿名揭露，2024年甲客戶占銷貨32%、乙客戶12%。
  • Edgecore Networks 鈺登科技 智邦子公司、未上市；負責開放網路品牌業務與全球通路，面向資料中心、服務供應商、企業客戶與系統整合商。

Competitors

  • Cisco Systems 美國上市；2024年報引用IDC資料，Cisco為全球乙太網交換器、路由器與企業WLAN主要競爭者。
  • Arista Networks 美國上市；資料中心交換器主要競爭者，2024年報引用其全球乙太網交換器營收市占。
  • Huawei 華為 未在台股掛牌；全球交換器、路由器與企業WLAN主要競爭者。
  • Hewlett Packard Enterprise / HPE Aruba 美國上市；企業交換器與WLAN競爭者。
  • H3C 新華三 未在台股掛牌；交換器、路由器與企業網路設備競爭者。
  • Celestica 加拿大/美國上市電子製造與資料中心設備供應商；市場文章列為白牌交換器ODM競爭者。
  • 明泰科技 3380 台股上市網通設備ODM/品牌公司，與智邦在網通設備、企業/寬頻/無線等部分領域具同業比較性。
  • 啟碁科技 6285 台股上市網通與無線通訊設備公司，與智邦在網通ODM與通訊設備供應鏈具同業比較性。
  • 中磊電子 5388 台股上櫃寬頻與電信網通設備公司，與智邦在電信/寬頻網通設備具部分競爭或同業比較性。
Sources（9）

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.