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2347

聯強 Electronics Distribution As of 2026-06-17 Updated daily after market close

quality needs a look, fair valuation.

2 active signals

252d high Revenue ≥20%

This page refreshes daily after the close. Add 聯強 to your watchlist to track signal changes on your next visit.

Is 聯強 a buy? Fundamentals and valuation first

Weak profitability.Operating margin is in the 36th market percentile. Latest quarterly ROE ≈ 3.8%.
Valuation is neutral.PE is in the 30th market percentile; within its own history, PE is around the 80th percentile.
Foreign investors are net selling.Foreign 20-day net flow ≈ -33.7% of volume (net sell).
Strong revenue growth.Latest monthly revenue YoY ≈ 129.3%, above the 20% growth threshold.
Signals are active now.On the latest data, signals such as 252-day price high, Revenue YoY ≥ 20% are active — see the historical forward returns after each occurrence below.

Chip flow

Bullish +0.88

BearishNeutralBullish

Single-sided accumulation, concentration rising — bullish

Single-sided accumulation, concentration rising — bullish
富邦證券 holds 25,057 lots
sellers have 16,154 lots left, ~124 sessions to clear

Window from 2026-01-17 · Price +42% · branches to 2026-06-17· TDCC to 2026-06-12

Largest holder 富邦證券 has accumulated 25,057 lots since the start (sold 3%), still adding.
Main distributor 凱基-台北 peaked at 14,696 lots, has sold 65%, 5,115 left, ~11 sessions to clear at the recent pace.
TDCC big holders (absolute) >1000-lot holders +3.16pp, mid holders +25, retail -3.27pp — concentration shifting upward.
Foreign hedge-desk net short Net short -15,510 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

富邦證券群益金鼎港商麥格理元大證券兆豐證券統一

Distributing

凱基-台北摩根大通花旗環球康和永豐金-敦南永豐金-中正

Desks

own scale

台灣摩根士丹利凱基美林美商高盛

Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline

Branch details Unit: lots

Accumulating

富邦證券 +25,057

sold 3%· still adding
群益金鼎 +21,736

sold 0%· still adding
港商麥格理 +15,409

sold 1%· still adding
元大證券 +14,419

sold 12%· still adding
兆豐證券 +8,070

sold 0%· still adding
統一 +7,083

sold 0%· still adding

Distributing

凱基-台北 5,115 left

sold 65%· ~11 sessions to clear
摩根大通 10,034 left

sold 30%· ~29 sessions to clear
花旗環球 504 left

sold 89%· ~5 sessions to clear
康和 315 left

sold 33%· ~67 sessions to clear
永豐金-敦南 178 left

sold 49%· paused recently
永豐金-中正 239 left

sold 30%· paused recently

Desks

台灣摩根士丹利 -13,922

hedge desk · will cover
凱基 -10,488

unclassified
美林 -9,109

hedge desk · will cover
美商高盛 -8,095

hedge desk · will cover

Still selling 16,154 lots ~124 sessions to bottom at most

Recent buy/sell force +56,167 absorbed / -9,576 sold buyers slightly ahead

Hedge-desk net short -13,329 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.

252-day price high (breakout)

Active

Adjusted close makes a new 252-day high; repeats within 20 days counted once.

32 historical occurrences (since 2009-09-07)

120 days after: historical avg +4.95%

20-day +2.36%

60-day +3.68%

120-day +4.95%

20-day

60-day

120-day

Win

67.7%

60%

69%

Sample

Median

+2.58%

+3.8%

+8.3%

Excess

+1.34%

+0.66%

-2.29%

Beat mkt rate

58.1%

46.7%

37.9%

Over 29 occurrences, 120-day forward avg gained 4.95%, lagged the market by 2.29 pts; win rate 69%.

Monthly revenue YoY ≥ 20% (from filing deadline)

Active · now 129.27%

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

36 historical occurrences (since 2010-01-11)

120 days after: historical avg +1.3%

20-day +1.39%

60-day +3.38%

120-day +1.3%

20-day

60-day

120-day

Win

54.3%

63.6%

56.2%

Sample

Median

+1.76%

+1.99%

+3.78%

Excess

+0.72%

+1.06%

+0.17%

Beat mkt rate

57.1%

48.5%

53.1%

Over 32 occurrences, 120-day forward avg gained 1.3%, beat the market by 0.17 pts; win rate 56.2%.

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.

0-20 +14.2%

20-40 +6.3%

40-60 +8.7%

60-80 +1.3%

80-100 -5.6% Now

PE percentile band	Sample days	240-day avg return	Median	Win rate	Avg excess (vs index)
0-20	1992	+14.2%	+13.8%	73.5%	-0.7%
20-40	417	+6.3%	-4%	39.6%	-2.1%
40-60	149	+8.7%	+11.2%	61.1%	-45%
60-80	321	+1.3%	+3.2%	57.6%	-21.1%
80-100 You are here	119	-5.6%	-4.5%	11.8%	-16.5%

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 ≈ 16.07, at the 80.5th 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

+5.5%

Win rate 72% Excess -0.6%

1378d

-1.7%

Win rate 26.1% Excess -16%

226d

Now

+1.1%

Win rate 39.3% Excess -11.6%

267d

60-day momentum down

+8.3%

Win rate 70.1% Excess +1.5%

944d

+9.8%

Win rate 59.1% Excess -15%

198d

-1.1%

Win rate 36.2% Excess -3%

105d

Currently in “Expensive (own-history top 1/3) × 60-day momentum up”: across 267 historical days, 120-day forward avg gained 1.1%, win rate 39.3%, lagged the market by 11.6%.

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.

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.

63 times historically; 60-day forward avg +2.84%, win rate 48.4%, beating the market by -3.14 pts on average.

What does 聯強 do? Company profile

電子通路業台灣證券交易所上市

Overview

聯強國際股份有限公司為上市普通股，證券代號 2347，上市日為 1995/12/13，產業別為電子通路業。公司成立於 1988/09/12，總部位於臺北市南港區市民大道八段205號27樓，董事長為苗豐強，總經理為杜書伍，發言人為杜書全。公開資料顯示實收資本額為新台幣16,679,469,680元，已發行普通股1,667,946,968股。2025年合併營收為新台幣4,111.53億元，歸屬母公司業主淨利84.67億元，EPS 5.08元；2024年合併營收為4,260.09億元。從業員工數依2025年報揭露為2025年底3,584人、2026/03/31為3,507人，平均年齡39.3歲、平均服務年資10.3年。2026/03/31主要股東包括神通電腦260,521,054股、15.62%；元大台灣高股息基金專戶81,152,468股、4.87%；匯豐台灣商銀受託保管摩根士丹利國際有限公司投資專戶65,202,730股、3.91%；聯華實業控股59,526,125股、3.57%；南山人壽44,280,000股、2.65%；元大台灣高股息低波動ETF基金專戶37,569,000股、2.25%；榮瑄投資35,970,086股、2.16%；匯豐台灣商銀受託保管英商高盛國際公司投資專戶29,263,391股、1.75%；苗豐強28,452,004股、1.71%；遠雄人壽26,617,000股、1.60%。公司採積極穩定配息政策，章程規定現金股利不得低於當次股東股利15%，近三年配發率均超過當年度獲利65%，2025年度董事會擬配現金股利每股4.2元。

Business

聯強是高科技供應鏈專業通路商，定位為營運服務數智平台 MSP，業務本質為代理、分銷、供應鏈履約、倉儲物流、維修與技術服務，非製造業。公司銷售產品橫跨四大領域：一、商用加值，包括 Server & Storage、AI Solution、Networking & Security、Data Center Infrastructure、Cloud Service、Surveillance、Productivity/Tools/BI、Database & Management、Large-Format Display & Printing；二、資訊消費，包括 Client Device、PC Components、Smart Device & Home Appliance、eSports & Gaming、Peripheral & Accessory；三、通訊，包括智慧手機與相關終端；四、半導體，銷售後用於 PC、Storage & Memory、Panel/Touch/LED、Networking、AIoT、Automotive、Power 等生產領域。2025年3C商品銷售地區結構為台灣地區509億元、19%；香港/大陸地區1,095億元、42%；紐澳印尼地區1,005億元、39%，合計2,609億元。公司官網稱集團銷售全球約440個領導品牌、產品品項約30,000項，品牌包括 Intel、AMD、Microsoft、HP、IBM、Apple、Asus、Acer、Lenovo、Samsung、Seagate、WD、Kingston、Huawei 等。年報揭露2025年主要供應商以匿名 A 公司揭露，進貨淨額764.66億元、占16%，其他供應商4,008.72億元、占84%；銷貨客戶分散，最近兩年度皆無單一客戶占銷貨總額10%以上。2026年第1季受AI需求帶動，合併營收1,263億元、年增38%，創單季新高；商用加值438億元、年增63%，半導體508億元、年增42%，資訊消費282億元、近一成年增，通訊63億元、年增22%。

Outlook 2025–2028

2025年：上半年受對等關稅、台幣強升、2024高基期及一次性高風險應收帳款備抵影響，營收與獲利年減；下半年隨AI應用落地、記憶體復甦與PC換機潮回升，第四季營收創單季歷史新高，全年半導體與商用加值營收為歷史次高，通訊業務創2018年以來新高。2026年：公司年報與新聞稿均指出AI應用普及化、資料中心建置、AI伺服器、儲存、網通、雲端軟體服務、記憶體、SSD、硬碟、GPU需求為主要動能；公司已成立AI應用加速平台，整合20家以上供應商、100種以上AI應用情境，目標是將AI從雲端延伸到企業與終端應用。2026年第1季已顯示商用加值與半導體雙引擎快速成長，台灣、大陸、印尼表現突出。2027-2028年：可合理推估成長重點仍在企業AI基礎建設、資料中心升級、AI PC與AI手機換機、半導體通路與記憶體/儲存供應鏈回補、東南亞與紐澳等區域經營深化，以及MSP平台帶來的營運效率與供應鏈協同；但公司未提供2027-2028量化財測。主要風險包括匯率波動、關稅與科技管制、地緣政治、供應鏈交期與物流不確定、記憶體及SSD等關鍵零組件價格波動、景氣循環使企業或政府IT資本支出延後、代理權變動、應收帳款信用風險，以及中國市場需求波動。

Supply Chain

Upstream

英特爾 Intel 上游國際半導體與平台供應商，美國上市；公司官網列為代理/銷售品牌之一。
超微 AMD 上游CPU/GPU與平台供應商，美國上市；公司官網列為代理/銷售品牌之一。
微軟 Microsoft 上游軟體、雲端與生產力工具供應商，美國上市；公司官網列為代理/銷售品牌之一。
蘋果 Apple 上游消費性電子與手機品牌，美國上市；公司官網列為代理/銷售品牌之一。
輝達 NVIDIA 上游GPU與AI運算供應商，美國上市；公開報導提及聯強代理NVIDIA等AI晶片產品。
華碩 2357 台股上市PC、主機板、電競與商用設備品牌，為聯強銷售品牌之一。
宏碁 2353 台股上市PC與商用設備品牌，為聯強銷售品牌之一。
技嘉 2376 台股上市主機板、顯示卡、伺服器相關品牌，屬資訊消費與商用加值產品供應來源之一。
微星 2377 台股上市電競PC、主機板與顯示卡品牌，104資料列為代理品牌之一。
聯發科 2454 台股上市IC設計公司，104資料列為代理品牌 MTK；屬半導體通路上游供應商之一。
三星電子 Samsung Electronics 韓國上市記憶體、儲存、手機與消費電子供應商；公司官網列為銷售品牌之一。
希捷 Seagate 美國上市儲存裝置供應商；公司官網列為銷售品牌之一。
Western Digital 美國上市儲存裝置供應商；公司官網列為銷售品牌之一。
金士頓 Kingston 未上市記憶體與儲存品牌；公司官網列為銷售品牌之一。

Downstream

企業客戶、政府標案與教育/金融/製造等機構商用加值下游客戶群，採購AI伺服器、儲存、網通、雲端服務、資安與資料中心基礎設施；年報未揭露個別客戶名稱。
系統整合商與AI應用軟體開發商公司2026年建立AI應用加速/推廣平台，與系統整合商及軟體開發商合作將AI解決方案導入企業；多數具體名單未公開。
經銷商、零售通路與電商平台資訊消費與通訊產品的主要下游通路型態；公司年報稱客戶分散且無單一客戶占銷貨10%以上，未揭露名單。
燦坤實業 2430 台股上市3C零售通路，屬聯強產品可能流向的下游通路類型；公開資料未確認其為聯強特定主要客戶。
全國電子 6281 台股上櫃家電與3C零售通路，屬聯強產品可能流向的下游通路類型；公開資料未確認其為聯強特定主要客戶。
富邦媒 8454 台股上市電商與通路平台，屬3C商品下游銷售通路類型；公開資料未確認其為聯強特定主要客戶。
網路家庭 8044 台股上櫃電商平台，屬3C商品下游銷售通路類型；公開資料未確認其為聯強特定主要客戶。
OEM/ODM與電子製造客戶半導體產品銷售後用於PC、儲存、面板、網通、AIoT、車用與電源等生產領域；年報未揭露個別客戶名稱。

Competitors

大聯大 3702 台股上市半導體零組件通路龍頭，與聯強半導體通路業務直接競爭。
文曄 3036 台股上市半導體通路商，與聯強半導體產品線及代理權競爭。
至上 8112 台股上櫃半導體與電子零組件通路商，與聯強半導體及記憶體/儲存相關通路競爭。
增你強 3028 台股上市電子零組件與資訊產品通路商，與聯強部分產品代理與客戶群重疊。
威健 3033 台股上市IC通路商，與聯強半導體與零組件通路業務競爭。
益登 3048 台股上市半導體通路商，與聯強半導體通路業務競爭。
華立 3010 台股上市電子材料與半導體相關通路商，與聯強在部分電子供應鏈服務領域競爭。
豐藝 6189 台股上市電子零組件與資訊通路商，與聯強在代理、分銷與加值服務市場競爭。
神州數碼 Digital China 香港上市IT通路與服務商，非台股掛牌；在大中華IT分銷與企業服務市場具競爭關係。
TD SYNNEX 美國上市全球IT通路商，非台股掛牌；在全球與區域ICT通路市場屬可比公司與潛在競爭者，聯強曾持有其股權並有處分公告。

Sources（14）

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.