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3693

營邦 Computer & Peripherals As of 2026-06-17 Updated daily after market close

quality needs a look, fair valuation.

1 active signal
Revenue ≥20%
This page refreshes daily after the close. Add 營邦 to your watchlist to track signal changes on your next visit.
Valuation 28Quality 38Growth 69Momentum 46Chips 30

Is 營邦 a buy? Fundamentals and valuation first

  • Weak profitability.Operating margin is in the 38th market percentile. Latest quarterly ROE ≈ 1.1%.

  • Valuation is neutral.PE is in the 79th market percentile; within its own history, PE is around the 94th percentile.

  • Foreign investors are net selling.Foreign 20-day net flow ≈ -1.2% of volume (net sell).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 24.8%, 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

Bearish -0.23
BearishNeutralBullish

Distribution, concentration falling — bearish

  • Distribution, concentration falling — bearish
  • 摩根大通 holds 658 lots
  • sellers have 727 lots left, ~149 sessions to clear

Window from 2026-01-17 · Price +39% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 摩根大通 has accumulated 658 lots since the start (sold 1%), still adding.
  • Main distributor 富邦證券 peaked at 917 lots, has sold 56%, 401 left, ~149 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders -3.09pp, mid holders +3, retail -2.01pp — little change.
  • Foreign hedge-desk net short Net short -694 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
摩根大通國泰-敦南宏遠-館前元富-敦南富邦-建國元大-和平
Distributing
富邦證券國票-安和統一美商高盛凱基統一-城中
Desks
own scale
元大證券美林第一金-自由宏遠-高雄
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 摩根大通 +658
    sold 1%· still adding
  • 國泰-敦南 +219
    sold 0%· still adding
  • 宏遠-館前 +141
    sold 1%· still adding
  • 元富-敦南 +100
    sold 23%
  • 富邦-建國 +91
    sold 19%
  • 元大-和平 +79
    sold 0%· still adding

Distributing

  • 富邦證券 401 left
    sold 56%· ~149 sessions to clear
  • 國票-安和 284 left
    sold 65%· paused recently
  • 統一 147 left
    sold 72%· paused recently
  • 美商高盛 78 left
    sold 81%· ~30 sessions to clear
  • 凱基 34 left
    sold 86%· ~8 sessions to clear
  • 統一-城中 24 left
    sold 87%· paused recently

Desks

  • 元大證券 -1,020
    unclassified
  • 美林 -425
    hedge desk · will cover
  • 第一金-自由 -182
    unclassified
  • 宏遠-高雄 -131
    unclassified
Still selling 727 lots ~149 sessions to bottom at most
Recent buy/sell force +317 absorbed / -311 sold buyers slightly ahead
Hedge-desk net short -613 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 24.81%

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

73 historical occurrences (since 2013-11-27)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 50.8%, Sample 61, Median +1.11%, Excess +5.19%, Beat mkt rate 47.5%；60-day: Win 49.2%, Sample 61, Median -2.28%, Excess +10.37%, Beat mkt rate 47.5%；120-day: Win 47.5%, Sample 61, Median -1.51%, Excess +27.84%, Beat mkt rate 45.9%

120 days after: historical avg +34.9%

20-day +6.44%
60-day +13.53%
120-day +34.9%
20-day
60-day
120-day
Win
50.8%
49.2%
47.5%
Sample
61
61
61
Median
+1.11%
-2.28%
-1.51%
Excess
+5.19%
+10.37%
+27.84%
Beat mkt rate
47.5%
47.5%
45.9%

Over 61 occurrences, 120-day forward avg gained 34.9%, beat the market by 27.84 pts; win rate 47.5%.

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)
0-20 232+229.1% +92% 76.3% +188.2%
20-40 460+128.2% +23.6% 59.3% +108.1%
40-60 140+56.9% +6.1% 59.3% +28%
60-80 247+23.3% +10.9% 55.1% +9.4%
80-100 You are here488+7.4% +7.5% 57% -22.6%

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 ≈ 57.67, at the 94.0th 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
+116.9%
Win rate 71% Excess +105%
297d
+50.8%
Win rate 68.9% Excess +34%
167d
-7.2%
Win rate 29.7% Excess -16.4%
357d
60-day momentum down
+29.2%
Win rate 61.4% Excess +15.8%
311d
-4%
Win rate 26.4% Excess -21.4%
235d
Now
+11.7%
Win rate 51.6% Excess -1.9%
320d

Currently in “Expensive (own-history top 1/3) × 60-day momentum down”: across 320 historical days, 120-day forward avg gained 11.7%, win rate 51.6%, lagged the market by 1.9%.

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.

12 times historically; 60-day forward avg +46.99%, win rate 72.7%, beating the market by +35.7 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.

28 times historically; 60-day forward avg +9.54%, win rate 50%, beating the market by +4.66 pts on average.

What does 營邦 do? Company profile

電子工業／電腦及週邊設備業；主要屬伺服器機箱、系統平台、儲存系統與AI基礎設施硬體 上櫃（櫃買中心，TPEX）

Overview

營邦企業股份有限公司成立於1996年5月3日，總部及登記地址位於桃園市蘆竹區大興路20巷19弄9號，營運總部暨研發實驗室位於桃園市大園區領航北路四段152號。股票於2013年11月27日上櫃，代號3693，英文簡稱AIC。董事長兼總經理為梁順營，發言人為錢靜怡，代理發言人為黃志雄。公開資料顯示實收資本額約新台幣429,906,940元、已發行普通股42,990,694股。113年年報列示截至2025年4月30日員工合計666人，其中直接人員171人、間接人員495人，平均年齡38歲、平均服務年資5.7年；2024年底員工675人。主要股東及內部人方面，2026年公開董監持股資料顯示梁順營約持股6,529千股、約15.19%，陳皇仁約持股4,456至4,622千股、約10.36%至10.75%，全體董監持股比例約25.59%。公司在美國、歐洲、中國、韓國等地設有據點；2025年啟動越南廠布局，2026年啟用桃園楊梅新廠，以支援AI伺服器與高密度儲存系統量產。2025年全年合併營收約75.16億元，較2024年約85.37億元衰退約11.96%；2025年歸屬母公司淨利約6.66億元，EPS約15.50元。

Business

營邦是伺服器與儲存解決方案供應商，核心業務包括伺服器機箱ESG、系統平台PSG、存儲系統SSG、產業設備IAG，以及AI GPU伺服器、AI Storage、高密度NVMe儲存、JBOD/JBOF、儲存伺服器準系統、機櫃級平台、邊緣AI設備與客製化OEM/ODM專案。2024年公開產業資料整理其產品營收約為伺服器機箱ESG 36%左右、系統平台PSG約30%左右、存儲系統SSG約3%左右、其他約31%；另法說及市場資料指出，伺服器準系統L6或ODM/OEM產品比重近年快速提升，長期約四成，2024至2025年受AI伺服器需求帶動有機會朝五成或更高比重發展。營運模式以自有設計、少量多樣、高客製化、準系統與品牌產品並行為主，客戶包括國內外電子通路代理商、系統整合商、軟體應用廠商、雲端與資料中心相關客戶；終端應用涵蓋雲端／資料中心、AI訓練與推論、HPC、網路安全、影音媒體、工業電腦、影像監控與邊緣AI。2026年公司官網明確揭露與AMD Helios機櫃級AI基礎設施、NVIDIA Vera BlueField-4 STX Storage Processor、VAST Data等生態系夥伴合作，營邦角色偏向硬體平台設計、機構架構、系統整合、高密度儲存與AI伺服器準系統供應。

Outlook 2025–2028

2025年營邦受產品轉換、客戶拉貨節奏及高基期影響，全年營收與獲利較2024年下滑，但仍維持高毛利伺服器／儲存平台定位。2026至2028年的主要成長動能包括：一、AI資料中心由單機伺服器走向機櫃級整合，AMD Helios與MI450平台預計自2026年中起逐步導入全球大型客戶，營邦已被公司與媒體資料描述為AMD Helios機櫃級AI基礎設施主要合作夥伴，負責關鍵機構架構並參與compute tray與rack-scale設計。二、NVIDIA BlueField-4 STX與AI Storage生態系合作，營邦將儲存加速、資料搬移、資安與高密度NVMe平台整合至AI推論與AI Factory場景，若AI推論與長上下文應用擴張，AI儲存平台需求有望提高。三、產能擴張：越南廠於2025年設備進駐並試營運，桃園楊梅新廠於2026年啟用，官方表示新廠導入自動化與智慧管理，可提升AI伺服器與高密度儲存系統量產能力；媒體另引述富岡／楊梅新廠產能高於蘆竹舊廠，蘆竹廠轉向少量多樣與高度客製化產品。四、產品組合升級：從單純機箱轉向伺服器與儲存準系統、AI Storage、GPU server、液冷與機櫃級整合，單機價值與技術門檻提高。五、全球供應鏈重組：中國加一、關稅、地緣政治與客戶供應鏈分散需求，支持台灣加越南製造布局。主要風險包括：AI伺服器專案認證與量產時程延後、AMD/NVIDIA平台出貨節奏不如預期、客戶集中與終端CSP資本支出循環波動、匯率急升侵蝕毛利率、關稅分攤、液冷與機櫃級產品良率／驗證風險、同業搶單造成價格壓力、關鍵零組件供應與庫存風險。2027至2028展望高度依賴AI資料中心投資週期、Helios/BlueField等平台放量程度與公司新產能稼動率，屬中高不確定性推估。

Supply Chain

Upstream
  • 超微半導體（AMD） 美國上市公司；營邦為AMD Helios／MI450機櫃級AI基礎設施合作夥伴，AMD提供GPU與平台生態，營邦負責關鍵機構架構、機櫃級硬體平台與系統整合。
  • 輝達（NVIDIA） 美國上市公司；營邦與NVIDIA BlueField／AI Storage生態合作，整合Vera BlueField-4 STX Storage Processor至AI儲存與伺服器平台。
  • 英特爾（Intel） 美國上市公司；營邦產品線支援Intel Xeon伺服器平台，並曾與Intel合作CXL與新世代儲存伺服器方案。
  • 博通（Broadcom） 美國上市公司；公司官方活動列為重要全球供應商之一，推估與高速網通、控制器或資料中心平台零組件生態相關。
  • 群聯電子 8299 台灣上櫃公司；官方楊梅新廠活動列為重要供應商之一，推估與SSD控制器、儲存模組或AI儲存平台生態合作相關。
  • 希捷（Seagate） 美國上市公司；官方楊梅新廠活動列為重要供應商之一，推估供應企業級硬碟／儲存裝置或參與儲存解決方案生態。
  • 美光（Micron） 美國上市公司；營邦官網揭露曾與Micron及Intel推出CXL相關次世代儲存伺服器，推估涉及記憶體與儲存元件合作。
  • 台達電 2308 台灣上市公司；非公開指定供應商，依伺服器機箱／機櫃產品BOM推估可能屬電源供應器、電源管理與散熱供應鏈同業／潛在供應商。
  • 建準電機 2421 台灣上市公司；非公開指定供應商，依伺服器產品主要原料包含風扇推估，屬伺服器風扇／散熱零組件潛在供應鏈。
  • 中鋼 2002 台灣上市公司；非公開指定供應商，年報列主要原料包含鋼板，故以鋼材上游供應鏈代表列示。
Downstream
  • Meta Platforms 美國上市公司；媒體報導AMD Helios／MI450相關平台由Meta等大型客戶採用或展示，屬終端雲端／AI資料中心需求端，未確認為營邦直接客戶。
  • OpenAI 未上市公司；媒體報導OpenAI與AMD合作並自2026年起布建AMD AI晶片，營邦可能透過AMD Helios供應鏈間接受惠，未確認為直接客戶。
  • 甲骨文（Oracle） 美國上市公司；媒體報導Oracle OCI將導入AMD MI450系列GPU，屬終端雲端資料中心需求端，未確認為營邦直接客戶。
  • VAST Data 未上市公司；與營邦、NVIDIA於AI儲存架構及COMPUTEX論壇合作，屬AI資料平台／儲存軟體生態夥伴。
  • 系統整合商與電子通路代理商 年報描述營邦銷售客戶多為國內外知名電子通路代理商、系統整合廠及軟體應用廠商；多數未公開名稱。
  • 雲端服務供應商與大型資料中心客戶 終端應用包含雲端、AI Factory、HPC、網路安全與企業AI部署；公司未完整揭露直接客戶名單。

Competitors

  • 勤誠 8210 台灣上櫃伺服器機殼與AI伺服器機櫃供應商，與營邦在AI伺服器機箱、機櫃與資料中心硬體領域競爭。
  • 晟銘電 3013 台灣上市機殼與伺服器機殼廠，屬機殼／AI伺服器機構件同業。
  • 迎廣 6117 台灣上櫃機殼、電源與伺服器相關產品廠，屬機殼與伺服器硬體同業。
  • 鴻準 2354 台灣上市機構件與機殼大廠，具伺服器與電子機構件競爭關係。
  • 廣達 2382 台灣上市伺服器ODM大廠，與營邦在AI伺服器平台、機櫃級系統與資料中心供應鏈部分重疊，但規模與商業模式不同。
  • 緯穎 6669 台灣上市雲端資料中心與AI伺服器ODM大廠，屬下游整機／機櫃級系統競爭與合作生態中的主要標竿。
  • 研華 2395 台灣上市工業電腦與邊緣運算平台大廠，與營邦在工業電腦、邊緣AI與伺服器平台部分應用市場重疊。
  • 艾訊 3088 台灣上櫃工業電腦與嵌入式平台廠，與營邦在工業電腦、邊緣運算與客製化系統市場部分重疊。
Sources（19）

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.