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2527

宏璟 Construction & Materials As of 2026-06-17 Updated daily after market close

strong quality, discounted valuation.

1 active signal
252d high
This page refreshes daily after the close. Add 宏璟 to your watchlist to track signal changes on your next visit.
Valuation 88Quality 85Growth 18Momentum 77Chips 24

Is 宏璟 a buy? Fundamentals and valuation first

  • Top-tier profitability.Operating margin beats ~89% of the market. Latest quarterly ROE ≈ 4.6%.

  • Valuation is low.PE is in the 3th market percentile; within its own history, PE is around the 36th percentile.

  • Foreign investors are net selling.Foreign 20-day net flow ≈ -1.9% of volume (net sell).

  • Signals are active now.On the latest data, signals such as 252-day price high are active — see the historical forward returns after each occurrence below.

Chip flow

Bullish +0.35
BearishNeutralBullish

Single-sided accumulation, concentration rising — bullish

  • Single-sided accumulation, concentration rising — bullish
  • 台新-九如 holds 1,003 lots
  • sellers have 1,488 lots left, ~55 sessions to clear

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

  • Largest holder 台新-九如 has accumulated 1,003 lots since the start (sold 10%), now trimming.
  • Main distributor 凱基-台北 peaked at 733 lots, has sold 74%, 192 left, ~5 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders +0.68pp, mid holders +5, retail -2.02pp — concentration shifting upward.
  • Foreign hedge-desk net short Net short -363 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
台新-九如國票-安和群益金鼎-中壢臺銀-民權凱基永豐金-中壢
Distributing
凱基-台北群益金鼎-三民摩根大通台灣摩根士丹利美商高盛新加坡商瑞銀
Desks
own scale
新光國泰-敦南凱基-城中凱基-中壢
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 台新-九如 +1,003
    sold 10%
  • 國票-安和 +957
    sold 16%
  • 群益金鼎-中壢 +625
    sold 0%· still adding
  • 臺銀-民權 +371
    sold 0%· still adding
  • 凱基 +336
    sold 0%
  • 永豐金-中壢 +310
    sold 0%

Distributing

  • 凱基-台北 192 left
    sold 74%· ~5 sessions to clear
  • 群益金鼎-三民 282 left
    sold 53%· ~12 sessions to clear
  • 摩根大通 267 left
    sold 52%· ~11 sessions to clear
  • 台灣摩根士丹利 141 left
    sold 74%· ~4 sessions to clear
  • 美商高盛 145 left
    sold 68%· ~5 sessions to clear
  • 新加坡商瑞銀 124 left
    sold 71%· ~7 sessions to clear

Desks

  • 新光 -420
    unclassified
  • 國泰-敦南 -259
    day-trade · selling pressure
  • 凱基-城中 -239
    unclassified
  • 凱基-中壢 -210
    unclassified
Still selling 1,488 lots ~55 sessions to bottom at most
Recent buy/sell force +1,874 absorbed / -1,994 sold sellers slightly ahead
Hedge-desk net short -104 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.

28 historical occurrences (since 2009-06-24)
Average forward return after 252-day price high (breakout)。20-day: Win 70.4%, Sample 27, Median +3.12%, Excess +1.38%, Beat mkt rate 63%；60-day: Win 61.5%, Sample 26, Median +8.07%, Excess +7.62%, Beat mkt rate 53.8%；120-day: Win 69.2%, Sample 26, Median +9.43%, Excess +8.99%, Beat mkt rate 61.5%

120 days after: historical avg +13.13%

20-day +2.5%
60-day +11.03%
120-day +13.13%
20-day
60-day
120-day
Win
70.4%
61.5%
69.2%
Sample
27
26
26
Median
+3.12%
+8.07%
+9.43%
Excess
+1.38%
+7.62%
+8.99%
Beat mkt rate
63%
53.8%
61.5%

Over 26 occurrences, 120-day forward avg gained 13.13%, beat the market by 8.99 pts; win rate 69.2%.

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.

PE percentile bandSample days240-day avg returnMedianWin rateAvg excess (vs index)
0-20 595-2.5% -3.7% 41% -15.3%
20-40 You are here489+24.9% +24.7% 81% -5.1%
40-60 463+10.4% +1% 51.8% +2.2%
60-80 339+27.3% +30.7% 63.7% +9.2%
80-100 683+23.6% +18.2% 70% +4%

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 ≈ 7.67, at the 35.7th percentile of its own history (20-40 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
-2.3%
Win rate 34.9% Excess -9.4%
410d
Now
+23.4%
Win rate 85.9% Excess +13%
454d
+3.5%
Win rate 52.8% Excess -2.9%
612d
60-day momentum down
+3.2%
Win rate 56% Excess -9%
668d
+9.7%
Win rate 79.9% Excess +2.4%
284d
+28.1%
Win rate 61.2% Excess +18.5%
260d

Currently in “Mid × 60-day momentum up”: across 454 historical days, 120-day forward avg gained 23.4%, win rate 85.9%, beat the market by 13%.

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.

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).

97 times historically; 60-day forward avg +6.94%, win rate 57.8%, beating the market by +3.12 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.

51 times historically; 60-day forward avg +6.69%, win rate 62%, beating the market by +2.32 pts on average.

What does 宏璟 do? Company profile

建材營造業／營建業 台灣證券交易所上市

Overview

2527 經查證交所 ISIN 與多個台股資料來源，為台灣證券交易所上市普通股，證券名稱為宏璟，完整公司名稱為宏璟建設股份有限公司。公司成立於1986/12/19，上市日期為1995/03/06，總部地址為台北市基隆路一段420號10樓，電話為02-2691-5899。董事長為簡文祥，總經理為周家佩，發言人為簡文祥。實收資本額約新台幣27.03億元，普通股發行股數270,306,000股。公司屬日月光集團關係企業；董事／法人董事資料顯示日月光半導體製造股份有限公司持有約68,629,782股、約25.39%，為重要股東與法人董事。董監事及大股東持股比約25.44%。公開頁面未能確認精確員工人數；Goodinfo揭露2025年全體員工平均年薪145.6萬元，員工規模本研究不填具體人數以避免推估失真。

Business

宏璟主要從事委託營造廠商興建國民住宅、商業大樓、廠辦大樓並出租或出售，並包括建材買賣及進出口、房屋租售介紹、室內設計裝潢工程、百貨與一般百貨等相關業務。公司產品用途包括住宅、店舖、辦公室、大型展示空間、廠房、停車位等。營收結構以住宅、商業大樓與智慧型工業廠辦之出售／出租為核心；MoneyDJ資料稱目前商品項目主要為住宅或廠辦大樓，營收比重為公司項目的100%。2025年前三季主要營收來源為帝璟苑餘屋銷售及租金收入，合併營收約新台幣4.6億元，因大型建案認列空窗，本業營收基期偏低；2026年3月因中壢第二園區廠房大樓相關交易認列，單月營收達45.26億元，帶動2026年前5月累計營收達46.42億元、年增約1906%。商業模式具營建股典型特徵：先取得土地或合建權利，委託營造廠施工，成屋或完工廠辦再出售或出租；目前興建中工程多採先建後售模式，營收與獲利認列高度集中於交屋、出售或點交時點。主要客戶包括一般住宅購屋者、店面與商場租戶、旅宿／商業租戶，以及日月光半導體等科技廠辦需求方。代表案包括汐止伯爵山莊、土城日月光、宏璟麗園、宏璟榮華、帝璟苑、宏璟青雲、日月光廣場、中壢第二園區智慧型廠房、高雄K28／K18B／第三園區廠房等。

Outlook 2025–2028

2025至2028年展望可分為短期一次性認列與中長期案量開發兩條主線。短期最大動能為中壢第二園區智慧型廠房大樓出售予日月光半導體，公開資訊顯示交易總價約新台幣42.31億元，宏璟持有該廠房72.15%產權，交易目的與日月光因應AI、HPC、高階封裝測試產能需求有關；此案已反映在2026年3月營收大幅跳升，屬一次性高額認列，對2026年獲利與現金流有明顯支撐，但不可線性外推。中長期動能為廠辦與住宅雙引擎：一是與日月光相關之高雄K28、高雄K18B、高雄第三園區廠房大樓興建及合建分屋；二是竹北、台中十四期、台中七期、土城、板橋與草漯等土地庫存逐步開發。2025法說資料整理顯示，2026年主要工作包含中壢第二園區廠房大樓銷售、帝璟苑住宅銷售、宏璟青雲／宏璟榮華／汐止麗園店面銷售或出租、高雄K28與K18B施工、高雄第三園區廠房興建、竹北合建案與台中洲際段住宅開發。產業趨勢方面，AI與先進封裝擴產支撐半導體廠辦需求，台灣主要都會區住宅供給仍受土地稀缺、區域生活機能與利率環境影響。主要風險包括房市信用管制與升息／高利率壓力、建材與工資成本波動、建照與都審進度、先建後售造成資金週轉壓力、營收認列不連續、關係人交易定價與公司治理觀感、日月光相關需求集中度、住宅高總價產品去化速度，以及宏觀景氣反轉導致推案或售價不如預期。2027至2028具體營收貢獻金額未見可驗證公開預估，本段展望主要依公開法說資料、重大訊息與土地庫存推論。

Supply Chain

Upstream
  • 福華工程股份有限公司 帝璟苑建案之營造公司；未查得台股上市櫃代號，屬未上市或非台股掛牌公司。
  • 元宏聯合建築師事務所 帝璟苑建案之建築設計單位；建築師事務所，非台股掛牌公司。
  • 戴德梁行不動產估價師事務所 曾作為日月光半導體與宏璟合建案分配比例參考之不動產估價機構；非台股掛牌公司。
  • 第一太平戴維斯不動產估價師事務所 曾作為日月光半導體與宏璟合建案分配比例參考之不動產估價機構；非台股掛牌公司。
Downstream
  • 日月光投資控股股份有限公司 3711 其子公司日月光半導體製造股份有限公司為宏璟廠辦交易與合建之核心關係人與需求方，終端用途為先進封裝、測試與半導體產能擴充。
  • 日月光半導體製造股份有限公司 宏璟中壢第二園區廠房72.15%產權買方及高雄楠梓廠房合建對象；為日月光投控子公司，未以本公司名義台股掛牌。
  • 德威大飯店股份有限公司 公開法說整理提及承租新竹日月光店大樓；未查得台股上市櫃代號，屬未上市或非台股掛牌公司。
  • 住宅購屋者與商場／店面租戶 帝璟苑、宏璟青雲、宏璟榮華、汐止麗園、日月光廣場等住宅、店面與商場之終端買方或承租方，多為個人或未揭露企業客戶。

Competitors

  • 國建 2501 上市建設公司，同屬建材營造／住宅與商辦開發同業。
  • 冠德 2520 上市建設公司，住宅、商辦與商場開發經營同業。
  • 京城 2524 上市建設公司，建材營造同業。
  • 宏盛 2534 上市建設公司，住宅與不動產開發同業。
  • 華固 2548 上市建設公司，雙北商辦、住宅與廠辦開發同業。
  • 興富發 2542 上市大型建商，住宅與商用不動產開發同業。
  • 遠雄 5522 上市建設公司，住宅、商辦與大型開發案同業。
  • 長虹 5534 上市建設公司，商辦、廠辦與住宅開發同業。
  • 達麗 6177 上市建設公司，住宅開發同業。
  • 聯上發 2537 上市建設公司，住宅與不動產開發同業。
Sources（23）

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.