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3465

進泰電子 Other Electronics As of 2026-06-17 Updated daily after market close

quality needs a look, premium valuation.

1 active signal
Revenue ≥20%
This page refreshes daily after the close. Add 進泰電子 to your watchlist to track signal changes on your next visit.
Valuation 26Quality 8Growth 96Momentum 3Chips 70

Is 進泰電子 a buy? Fundamentals and valuation first

  • Weak profitability.Operating margin is in the 11th market percentile. Latest quarterly ROE ≈ -5.0%.

  • Valuation is high.PE is in the 98th market percentile; within its own history, PE is around the 92th percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 3.2% of volume (net buy).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 190.5%, 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
  • 群益金鼎-北高雄 holds 158 lots
  • sellers have 53 lots left, ~30 sessions to clear

Window from 2026-01-17 · Price -32% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 群益金鼎-北高雄 has accumulated 158 lots since the start (sold 24%), now trimming.
  • Main distributor 台新-九如 peaked at 44 lots, has sold 30%, 31 left, ~24 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders -4.41pp, mid holders +2, retail -1.44pp — little change.
  • Foreign hedge-desk net short Net short -10 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
群益金鼎-北高雄統一-彰化台新-台北中國信託-高雄元大-永康宏遠-桃園
Distributing
台新-九如光和-高雄元大證券永豐金-大園富邦-青埔元大-博愛
Desks
own scale
國泰-高雄新光永豐金-敦北統一-新台中
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 群益金鼎-北高雄 +158
    sold 24%
  • 統一-彰化 +149
    sold 10%
  • 台新-台北 +117
    sold 0%
  • 中國信託-高雄 +109
    sold 0%· still adding
  • 元大-永康 +64
    sold 0%· still adding
  • 宏遠-桃園 +52
    sold 0%· still adding

Distributing

  • 台新-九如 31 left
    sold 30%· ~24 sessions to clear
  • 光和-高雄 7 left
    sold 81%· ~18 sessions to clear
  • 元大證券 10 left
    sold 44%· paused recently
  • 永豐金-大園 5 left
    sold 50%· paused recently
  • 富邦-青埔 3 left
    sold 63%· paused recently
  • 元大-博愛 1 left
    sold 83%· ~3 sessions to clear

Desks

  • 國泰-高雄 -348
    unclassified
  • 新光 -141
    unclassified
  • 永豐金-敦北 -101
    unclassified
  • 統一-新台中 -60
    unclassified
Still selling 53 lots ~30 sessions to bottom at most
Recent buy/sell force +266 absorbed / -31 sold buyers slightly ahead
TDCC big holders · absolute-holding cross-check
>1000-lot holder share Retail (<400 lots) share Price (right axis)

Mixed direction: big-holder and retail changes are not aligned.

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 190.5%

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

70 historical occurrences (since 2008-01-28)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 43.9%, Sample 66, Median -1.28%, Excess -0.69%, Beat mkt rate 42.4%；60-day: Win 40%, Sample 65, Median -3.24%, Excess -1.93%, Beat mkt rate 40%；120-day: Win 40%, Sample 65, Median -3.71%, Excess -1.19%, Beat mkt rate 36.9%

120 days after: historical avg +5.56%

20-day -0.28%
60-day +1.31%
120-day +5.56%
20-day
60-day
120-day
Win
43.9%
40%
40%
Sample
66
65
65
Median
-1.28%
-3.24%
-3.71%
Excess
-0.69%
-1.93%
-1.19%
Beat mkt rate
42.4%
40%
36.9%

Over 65 occurrences, 120-day forward avg gained 5.56%, lagged the market by 1.19 pts; win rate 40%.

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 2Insufficient data
20-40 68-21.4% -16% 0% -78.9%
40-60 17Insufficient data
60-80 43-35.8% -37.7% 0% -93.9%
80-100 You are here184-33.2% -33.7% 0% -86.6%

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 ≈ 702.5, at the 91.7th 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
Insufficient data
(5d)
-19.9%
Win rate 0% Excess -50.6%
63d
-20.4%
Win rate 0% Excess -38.9%
35d
60-day momentum down
+6.3%
Win rate 95.6% Excess -11.5%
45d
-15.8%
Win rate 4.8% Excess -50.3%
124d
Now
-19.5%
Win rate 0.6% Excess -41.7%
160d

Currently in “Expensive (own-history top 1/3) × 60-day momentum down”: across 160 historical days, 120-day forward avg declined 19.5%, win rate 0.6%, lagged the market by 41.7%.

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.

16 times historically; 60-day forward avg +15.85%, win rate 50%, beating the market by +11.73 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.

15 times historically; 60-day forward avg -5.72%, win rate 42.9%, beating the market by -8.89 pts on average.

What does 進泰電子 do? Company profile

其他電子業；專業音響、揚聲器及音訊產品 OEM/ODM 上櫃（櫃買中心）

Overview

進泰電子科技股份有限公司，股票代號3465，為櫃買中心上櫃普通股。公司設立於1993年4月9日，公開發行日為2004年9月15日，上櫃日為2008年1月28日；前身為祥業科技，2018年更名為進泰電子科技股份有限公司，2020年跨入專業音響及揚聲器製造與銷售領域。總部位於高雄市新興區民權一路251號19樓之1，營運中心在台灣高雄，香港設服務據點，中國東莞與越南北寧設製造據點，另法說會資料列示日本開發據點與馬來西亞技術/供應鏈資源。董事長兼總經理為邢家蓁；發言人為李智賢，代理發言人為黃宸庭。實收資本額新台幣353,298,620元，已發行普通股35,329,862股。2024年年報揭露截至2025年4月30日員工合計753人，其中經理級以上37人、一般職員142人、生產線員工574人，平均年齡40.00歲，平均服務年資4.61年。主要股東名單截至2025年4月27日包含泰弘資產管理6,317,000股、17.88%；進泰資產管理6,114,000股、17.30%；宏蓁資產管理3,033,000股、8.58%；匯蓁電子科技2,388,000股、6.75%；邢家蓁1,463,925股、4.14%；群益金鼎受託保管六福證券投資專戶1,428,509股、4.04%。

Business

進泰電子定位為國際專業音響品牌的音訊產品解決方案供應商，採OEM/ODM模式，提供揚聲器產品研發、設計、製造與整體解決方案；技術涵蓋聲學、機械、電子、木製品與軟體。主要產品包括重低音箱、立式音箱、書架式音箱、室外音箱、中置音箱、環繞音箱、家庭劇院系統、牆壁式揚聲器、單體喇叭及揚聲器相關零配件。2024年產品營收結構為音箱系統新台幣1,502,909仟元、占94.77%；牆壁式揚聲器46,810仟元、占2.95%；其他36,119仟元、占2.28%；合計1,585,838仟元。2025年前三季法說會資料顯示營收1,324,778仟元、年增17.21%，毛利率19.83%，營業利益率3.49%，EPS為-0.10元；2025全年合併營收依月營收公告為1,675,949仟元，年增5.68%。2026年前五月累計營收約7.625億元，年增約14.1%。區域別方面，2025年前三季北美占83.80%、亞洲15.03%、歐洲1.17%，北美為主要市場。客戶方面，公司年報未揭露真實名稱，僅以甲、乙代稱；2024年乙客戶占銷貨淨額76.44%、甲客戶占9.99%，2025年第一季乙客戶占73.43%、甲客戶占16.37%，顯示客戶集中度高。商業模式上，進泰以國際品牌商長期合作、產品設計開發到製造的一條龍服務、中國東莞與越南北寧雙生產基地，以及香港等銷售/服務據點來支援客戶採購與交期。

Outlook 2025–2028

2025至2028年展望重點：一、產業需求方面，公司年報與2025法說會引用市場研究指出，全球音訊產品市場2025年估352億美元、2026年估372億美元，2032年估538億美元，年複合成長率約5.5%；北美為主要市場。影音/娛樂使用場景朝串流、居家、個人化、高音質與智慧家庭延伸，中高階音響需求具穩定復甦基礎。二、產品與技術方面，公司計畫開發Hi-Res Music Streamer、多房間同步操控與360度播放設計、高階迷你書架音箱、高階1000W重低音音箱、DSP數位訊號處理、APP操控、Dolby ATMOS高階家庭劇院/智慧型音響、WISA無線傳送技術音箱等；2025年於越南廠成立AVR影音擴大機事業群，與客戶合作投入AVR製造與開發，法說會資料引用全球AVR市場2025年12.7億美元、2026年13.1億美元、2035年17.6億美元，CAGR約2.5%，北美占比逾30%。三、產能布局方面，公司因應美中貿易、關稅與客戶China+1需求，加速越南北寧廠產能；2025年第三季法說會顯示越南北寧廠產值比重已達51%、超過中國東莞49%，長期規劃為越南70%、中國30%。2026年報導指出公司擬辦理7,000張現金增資，且2026年營運力拚逐季成長；5月營收進入近年高檔，惟第一季仍因客戶旗艦新機工藝門檻、AI熱潮造成電子關鍵零組件供應波動、春節長假與AVR初期投入支出而虧損。四、主要成長動能包括越南產能提高與關稅相對優勢、新客戶與新機種、AVR新事業、既有國際品牌客戶深化、一條龍製造與高階音訊產品開發。五、主要風險包括客戶集中度高、北美市場占比高、匯率波動、關稅與地緣政治、材料與人工成本上升、電子零組件供應不穩、OEM/ODM價格競爭、品牌商議價能力高、智慧音響與大型電子代工廠跨業競爭，以及越南快速擴產與新事業初期費用造成毛利與獲利波動。

Supply Chain

Upstream
  • 中國、越南及美國多家材料與零組件供應商 年報揭露主要原料包含MDF板材、磁鐵、軛鐵、音圈、支架等喇叭材料、貼片IC與被動元件；供應來源為中國、越南、美國，供應狀況穩定，但未揭露單一供應商名稱，且最近二年度及2025年第一季無同一供應商進貨占比超過10%。
  • 上游電子零組件、連接器/線材、金屬沖壓/電鍍、木料加工、塑膠加工、合成樹脂業者 公司年報與法說會列示之音響產業上游類別；屬供應鏈環節描述，非公司揭露之特定上市櫃供應商。
Downstream
  • 國際專業音響品牌商（乙客戶） 年報以代號揭露之最大客戶，真實名稱未公開；2024年銷貨1,212,268仟元、占76.44%，2025年第一季銷貨324,995仟元、占73.43%，與發行人無關係。
  • 國際專業音響品牌商（甲客戶） 年報以代號揭露之第二大客戶，真實名稱未公開；2024年銷貨158,440仟元、占9.99%，2025年第一季銷貨72,462仟元、占16.37%，與發行人無關係。
  • 北美、亞洲、歐洲視聽娛樂、家電、汽車及其他音訊應用市場 下游應用市場；2025年前三季區域營收占比為北美83.80%、亞洲15.03%、歐洲1.17%，主要銷售市場為北美、歐洲、日本等專業揚聲器市場。

Competitors

  • 錩新 2415 台股上市櫃聲學/電子零組件相關同業；第三方同業比較列為進泰電子聲學產品競爭對手。
  • 美律 2439 台股上市聲學元件與音訊產品相關同業；第三方同業比較列為進泰電子競爭對手。
  • 美隆電 2477 台股上市音響與揚聲器OEM/ODM相關同業，與進泰在音響系統、揚聲器代工領域具可比性。
  • 漢平 2488 台股上市專業音響/視聽產品相關同業；第三方同業比較列為進泰電子競爭對手。
  • 全域 3067 台股上櫃聲學產品相關同業；第三方同業比較列為進泰電子競爭對手。
  • 志豐 3206 台股上櫃聲學/電子產品相關同業；第三方同業比較列為進泰電子競爭對手。
  • 東雅電 台股上櫃聲學產品相關同業；第三方同業比較列為進泰電子競爭對手。
  • 東科-KY 5225 台股上市影音揚聲器系統ODM相關同業；與聲霸、專業用耳機及其他聲學產品製造具可比性。
  • 鋒霖 台股上櫃聲學產品相關同業；第三方同業比較列為進泰電子競爭對手。
  • 亞弘電 6201 台股上市專業音訊產品、小家電與電子零組件製造商；音訊產品業務與進泰具部分競爭關係。
Sources（18）

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.