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3631

晟楠 Electronic Components 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 晟楠 to your watchlist to track signal changes on your next visit.
Valuation 18Quality 9Growth 90Momentum 64Chips 37

Is 晟楠 a buy? Fundamentals and valuation first

  • Weak profitability.Operating margin is in the 2th market percentile. Latest quarterly ROE ≈ -1.1%.

  • Valuation is high.PE is in the 100th market percentile; within its own history, PE is around the 96th percentile.

  • Foreign investors are net selling.Foreign 20-day net flow ≈ -0.4% of volume (net sell).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 83.3%, 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 -0.11
BearishNeutralBullish

Institutional rotation, concentration steady — neutral

  • Institutional rotation, concentration steady — neutral
  • 元大-善化 holds 303 lots
  • sellers have 120 lots left, ~100 sessions to clear

Window from 2026-01-17 · Price +31% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 元大-善化 has accumulated 303 lots since the start (sold 4%), now trimming.
  • Main distributor 兆豐-忠孝 peaked at 50 lots, has sold 26%, 37 left, paused recently.
  • TDCC big holders (absolute) >1000-lot holders -2.51pp, mid holders +3, retail -0.43pp — little change.
  • Foreign hedge-desk net short Net short -220 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
元大-善化永豐金-桃園元大-新店中正福邦證券元大-內湖統一-敦南
Distributing
兆豐-忠孝美林永豐金-台中國票-敦北法人富邦-陽明國泰-忠孝
Desks
own scale
兆豐-桃鶯凱基-台北元大-中壢中國信託-忠孝
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 元大-善化 +303
    sold 4%
  • 永豐金-桃園 +252
    sold 8%· still adding
  • 元大-新店中正 +92
    sold 0%· still adding
  • 福邦證券 +88
    sold 0%
  • 元大-內湖 +71
    sold 0%· still adding
  • 統一-敦南 +69
    sold 10%

Distributing

  • 兆豐-忠孝 37 left
    sold 26%· paused recently
  • 美林 30 left
    sold 29%· ~100 sessions to clear
  • 永豐金-台中 9 left
    sold 78%· ~23 sessions to clear
  • 國票-敦北法人 16 left
    sold 56%· paused recently
  • 富邦-陽明 12 left
    sold 65%· ~15 sessions to clear
  • 國泰-忠孝 14 left
    sold 59%· paused recently

Desks

  • 兆豐-桃鶯 -425
    unclassified
  • 凱基-台北 -141
    day-trade · selling pressure
  • 元大-中壢 -126
    unclassified
  • 中國信託-忠孝 -100
    unclassified
Still selling 120 lots ~100 sessions to bottom at most
Recent buy/sell force +293 absorbed / -69 sold buyers slightly ahead
Hedge-desk net short -13 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)

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 83.3%

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

41 historical occurrences (since 2010-12-20)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 40.6%, Sample 32, Median -1.55%, Excess -1.14%, Beat mkt rate 28.1%；60-day: Win 43.3%, Sample 30, Median -5.38%, Excess -3.74%, Beat mkt rate 36.7%；120-day: Win 31%, Sample 29, Median -9.57%, Excess -11.03%, Beat mkt rate 34.5%

120 days after: historical avg -9.14%

20-day -0.03%
60-day -2.64%
120-day -9.14%
20-day
60-day
120-day
Win
40.6%
43.3%
31%
Sample
32
30
29
Median
-1.55%
-5.38%
-9.57%
Excess
-1.14%
-3.74%
-11.03%
Beat mkt rate
28.1%
36.7%
34.5%

Over 29 occurrences, 120-day forward avg declined 9.14%, lagged the market by 11.03 pts; win rate 31%.

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 0Insufficient data
40-60 29Insufficient data
60-80 93+27.9% +1% 50.5% -3%
80-100 You are here131+21.9% +18.9% 74% -50%

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 ≈ 1603.33, at the 96.5th 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
Insufficient data
(0d)
Insufficient data
(0d)
Now
-20.6%
Win rate 22% Excess -51.9%
132d
60-day momentum down
Insufficient data
(0d)
+69.7%
Win rate 96.5% Excess +66.4%
57d
+31.9%
Win rate 58.6% Excess -4.4%
181d

Currently in “Expensive (own-history top 1/3) × 60-day momentum up”: across 132 historical days, 120-day forward avg declined 20.6%, win rate 22%, lagged the market by 51.9%.

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.

13 times historically; 60-day forward avg +9.78%, win rate 63.6%, beating the market by +4.92 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.

24 times historically; 60-day forward avg -5.5%, win rate 30.4%, beating the market by -11.49 pts on average.

What does 晟楠 do? Company profile

電子零組件業 上櫃（證券櫃檯買賣中心）

Overview

晟楠科技股份有限公司為台灣上櫃普通股，股票代號3631，產業分類為電子零組件業。公司成立於1984年4月10日，2010年12月20日上櫃，總部位於桃園市龜山區萬壽路一段161號18樓之1，電話(02)8209-2883。公開資料顯示實收資本額約新台幣8.18億元，已發行普通股約8,182.09萬股。2024年全面改選後，董事長及總經理為魏素珠；原林朝榮於2024年7月後不再兼任總經理。2024年年報揭露截至2025年3月31日從業員工36人，其中製造5人、研發0人、管理28人、銷售3人，平均年齡50.28歲、平均服務年資6.19年。2025年4月30日前十大/主要股東包括榮志投資有限公司代表人林朝榮持股35.56%、林朝榮10.71%、亨盈投資有限公司代表人林朝榮8.69%、廣盈投資有限公司代表人林朝榮7.71%、魏素珠5.23%、永豐商銀託管瑞榮貿易發展有限公司投資專戶3.83%、薩摩亞商豐達有限公司代表人廖家琦2.53%、廖家琦1.08%、賀錫敬0.86%、林運光0.53%。主要轉投資包括晟裕科技股份有限公司（資源回收，持股67.43%）、薩摩亞群島商高威有限公司、薩摩亞群島商鷹翔國際有限公司、晟楠科技（香港）有限公司、百年達科技（深圳）有限公司等。

Business

公司本業為焊錫材料製造與銷售，主要產品包括錫條、錫絲、錫球、錫膏、助焊劑等；2024年年報揭露焊錫產品營收新台幣76,043千元、占營收100%。產品用途包括電子組裝廠波焊製程、PCB噴錫製程、裝配維修、PCB及被動元件電鍍工程、SMT表面黏著銲接及相關助焊劑。下游應用涵蓋主機板、印刷電路板、電源供應器、通訊設備、電腦主機板、資訊/通訊/消費性電子等。2024年銷售區域為內銷40,000千元、占52.60%，外銷36,043千元、占47.40%；2025年合併財報揭露銷貨收入29,333千元，均為亞洲市場銲錫產品，其中國內部門6,300千元、海外部門23,033千元，顯示本業規模明顯縮小。2026年第1季合併銷貨收入10,568千元，較2025年第1季7,745千元增加。商業模式上，公司以原料純錫、鉛、助焊劑等製成焊錫材料，銷售予PCB、主機板、電源供應器與電子組裝加工廠；近年因中國大陸焊錫市場削價競爭、原料錫價波動及下游需求走弱，策略改為維持舊客戶、降低庫存、整合深圳生產銷售與出租閒置廠房。公司亦透過子公司晟裕科技投入甲級廢棄物處理、焚化處理、環保科技，並評估AI伺服器運算中心、光電儲能等轉型方向。

Outlook 2025–2028

2025至2028展望偏轉型與高不確定性。成長動能方面，年報指出AI伺服器、AI PC、5G、IoT、車用電子、電源供應器與PCB新應用仍可能帶動焊錫材料終端需求，但公司同時明確表示焊錫本業在大陸市場競爭激烈、獲利空間低，2025年焊錫銷量與訂單可能再下降，焊錫產品以維持既有客戶為主。公司2024年報估計2025年錫製品銷量約13公噸，營收呈急速下降態勢；2025年合併銷貨收入實際為29,333千元，低於2024年76,043千元。轉型方面，晟楠規劃將產能集中深圳，台灣、江蘇、昆山等閒置或低利用率廠房出租；年報稱昆山廠及汐止廠未來每年可帶來約30,000千元租金收入。子公司晟裕科技投入甲級廢棄物處理機構，焚化廠已建置完成；公司年報稱若試運轉順利，預估2026年第4季可正式營運，且晟裕廢棄物處理機構預計投入約11億元廠房及設備，未來五年（2024至2028）公司估計可創造50多億元營收。此為公司自身預估，需視試運轉、許可、產能利用、訴訟與資金狀況而定。主要風險包括中國同業削價競爭、焊錫本業低毛利或負毛利、國際錫價與匯率波動、主要客戶集中且年報以匿名揭露、晟裕工程與設備相關訴訟仍在法院審理、廢棄物處理正式營運時程及許可不確定、轉型資本支出與借款壓力、資安及法遵風險。

Supply Chain

Upstream
  • 西南錫業 年報揭露之主要原料純錫供應商，非台股掛牌；2024年主要原料供應狀況列示純錫供應良好。
  • MSC（Malaysia Smelting Corporation） 年報描述作為國際製錫大廠及主要純錫供貨來源之一，馬來西亞相關企業，非台股掛牌。
  • Tennant Metals 年報描述作為主要純錫供貨來源之一，海外金屬供應商，非台股掛牌。
  • THAISARCO 年報描述作為主要純錫供貨來源之一，泰國錫供應商，非台股掛牌。
  • Nihon Superior 日本企業；晟楠取得錫銅鎳鍺合金（SN100C）相關專利授權，可於兩岸三地生產及銷售。
  • AIM Inc. 美國焊接材料企業；年報稱晟楠曾取得其錫銅鎳鍺合金相關技術授權，非台股掛牌。
Downstream
  • 鴻海精密 2317 早期新聞列為晟楠客戶群之一；現行年報主要客戶以A/B/C客戶匿名揭露，故此關係屬歷史公開資訊。
  • 華碩 2357 早期新聞列為晟楠客戶群之一，終端應用與主機板/電子組裝相關；現行年報未具名確認。
  • 光寶科技 2301 早期新聞列為晟楠客戶群之一，與電源供應器/電子零組件應用相關；現行年報未具名確認。
  • 精英電腦 2331 早期新聞列為晟楠客戶群之一，與主機板/電腦相關應用；現行年報未具名確認。
  • 亞旭電腦 2359 早期新聞列為晟楠客戶群之一，與通訊/電子產品製造相關；現行年報未具名確認。
  • 全漢企業 3015 早期新聞列為晟楠客戶群之一，與電源供應器應用相關；現行年報未具名確認。

Competitors

  • 昇貿科技 3305 年報列為主要競爭對手；產品包括電子資訊產品及半導體封裝關鍵材料、銲錫絲、銲錫棒、BGA錫球、銲錫膏等。
  • 業強科技 6124 年報列為主要競爭對手；業務包括資訊電子關鍵材料、熱導元器件，亦有錫球、錫膏、Flux等電子材料。
  • 佳龍科技工程 9955 年報列為主要競爭對手之一；業務偏貴金屬銷售、混合廢五金處理、廢資訊品清運處理，亦與晟楠轉型環保/資源回收方向部分重疊。
  • 中國大陸焊錫材料廠商 年報多次指出中國大陸競爭同業削價競爭導致焊錫產品業績與毛利承壓；未具名且非台股掛牌。
Sources（12）

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.