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5439

高技 Electronic Components As of 2026-06-17 Updated daily after market close

steady quality, fair valuation.

1 active signal
Revenue ≥20%
This page refreshes daily after the close. Add 高技 to your watchlist to track signal changes on your next visit.
Valuation 38Quality 84Growth 86Momentum 65Chips 72

Is 高技 a buy? Fundamentals and valuation first

  • Above-average profitability.Operating margin is in the 74th market percentile. Latest quarterly ROE ≈ 8.0%.

  • Valuation is neutral.PE is in the 48th market percentile; within its own history, PE is around the 84th percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 3.6% of volume (net buy).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 58.3%, 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

Bullish +0.62
BearishNeutralBullish

Single-sided accumulation, concentration rising — bullish

  • Single-sided accumulation, concentration rising — bullish
  • 美林 holds 3,813 lots
  • sellers have 3,333 lots left, ~564 sessions to clear

Window from 2026-01-17 · Price +11% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 美林 has accumulated 3,813 lots since the start (sold 0%), still adding.
  • Main distributor 美商高盛 peaked at 4,470 lots, has sold 68%, 1,410 left, ~564 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders +5.45pp, mid holders -3, retail -3.85pp — concentration shifting upward.
  • Foreign hedge-desk net short Net short -564 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
美林摩根大通兆豐證券國票-敦北法人玉山證券花旗環球
Distributing
美商高盛元大證券新加坡商瑞銀台灣摩根士丹利凱基-台北統一
Desks
own scale
凱基-站前群益金鼎富邦證券合庫-高雄
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 美林 +3,813
    sold 0%· still adding
  • 摩根大通 +3,102
    sold 4%· still adding
  • 兆豐證券 +921
    sold 10%
  • 國票-敦北法人 +829
    sold 16%· still adding
  • 玉山證券 +638
    sold 17%
  • 花旗環球 +487
    sold 0%· still adding

Distributing

  • 美商高盛 1,410 left
    sold 68%· ~564 sessions to clear
  • 元大證券 307 left
    sold 88%· ~7 sessions to clear
  • 新加坡商瑞銀 753 left
    sold 65%· paused recently
  • 台灣摩根士丹利 1,283 left
    sold 30%· paused recently
  • 凱基-台北 573 left
    sold 68%· ~27 sessions to clear
  • 統一 492 left
    sold 70%· ~4 sessions to clear

Desks

  • 凱基-站前 -1,838
    unclassified
  • 群益金鼎 -1,431
    unclassified
  • 富邦證券 -977
    unclassified
  • 合庫-高雄 -973
    unclassified
Still selling 3,333 lots ~564 sessions to bottom at most
Recent buy/sell force +2,448 absorbed / -2,179 sold buyers slightly ahead
Hedge-desk net short -478 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.

Monthly revenue YoY ≥ 20% (from filing deadline)

Active · now 58.3%

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

81 historical occurrences (since 2007-04-23)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 63.6%, Sample 66, Median +5.09%, Excess +2.92%, Beat mkt rate 60.6%；60-day: Win 62.5%, Sample 64, Median +9.05%, Excess +5.66%, Beat mkt rate 51.6%；120-day: Win 55.7%, Sample 61, Median +6.5%, Excess +6.57%, Beat mkt rate 37.7%

120 days after: historical avg +17.97%

20-day +4.92%
60-day +12.34%
120-day +17.97%
20-day
60-day
120-day
Win
63.6%
62.5%
55.7%
Sample
66
64
61
Median
+5.09%
+9.05%
+6.5%
Excess
+2.92%
+5.66%
+6.57%
Beat mkt rate
60.6%
51.6%
37.7%

Over 61 occurrences, 120-day forward avg gained 17.97%, beat the market by 6.57 pts; win rate 55.7%.

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 25Insufficient data
20-40 230+111.4% +109.5% 100% +94.6%
40-60 537+36.9% +31% 92.6% +24.2%
60-80 908+18.7% +15.7% 70.9% +7.7%
80-100 You are here1343+44% +23.3% 74.8% +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 ≈ 21.12, at the 84.2th 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
+72.3%
Win rate 100% Excess +56.7%
67d
+22.9%
Win rate 78.5% Excess +16.4%
331d
Now
+17.5%
Win rate 66.7% Excess +6.8%
1602d
60-day momentum down
+19.6%
Win rate 71.6% Excess +20.5%
141d
+11.9%
Win rate 66.5% Excess +8%
496d
+16.3%
Win rate 72.8% Excess +7.6%
526d

Currently in “Expensive (own-history top 1/3) × 60-day momentum up”: across 1602 historical days, 120-day forward avg gained 17.5%, win rate 66.7%, beat the market by 6.8%.

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.

38 times historically; 60-day forward avg +8.63%, win rate 51.4%, beating the market by +2.56 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.

52 times historically; 60-day forward avg +10.02%, win rate 64.7%, beating the market by +5.62 pts on average.

What does 高技 do? Company profile

電子零組件業；印刷電路板（PCB）製造 上櫃（櫃買中心/TPEX）

Overview

高技企業股份有限公司，英文名 First Hi-tec Enterprise Co., Ltd.，英文簡稱 FHt，統一編號 22773079，成立於 1988-01-29，總部位於桃園市桃園區興邦路43巷3號，股票代號 5439，2000-06-26 上櫃。董事長張景山，總經理李泰輝，發言人張秋雄（財務長）。截至公開資料，實收資本額新台幣929,757,520元，已發行普通股92,975,752股，簽證會計師事務所為勤業眾信聯合會計師事務所。2024年永續報告書揭露員工人數為台灣799人，營運據點以台灣為主；2024年合併營收新台幣4,177,705千元，主要產品銷售比重為單、雙層印刷電路板3.33%、多層印刷電路板96.67%，地區營收比重為台灣57.78%、亞洲41.33%、其他0.89%。公司官網主要股東頁面（114年04月21日）揭露主要股東包含朱意鈞、朱伯昇、久舜投資股份有限公司、張景山等；另董監持股資料顯示2026年5月張景山約持股2.58%、謝鏐雄約2.18%、景玉投資股份有限公司代表人湯坤道約1.11%、李泰輝約0.91%。

Business

高技為利基型硬式PCB製造商，核心業務為印刷電路板研發、製造與銷售，產品涵蓋多層板、厚銅板、盲埋孔/HDI、高層數板、散熱鋁基板等，應用於網通、電工、車用、半導體與其他高可靠度電子設備。2024年永續報告書將產業鏈位置列為PCB製造中游，上游包含銅箔、玻璃纖維布、酚醛樹脂、環氧樹脂、生產設備、銅箔基板與其他材料，下游為消費電子、工業電子、通訊電信、車用電子與半導體。2025年法說資料整理顯示，公司產品組合快速轉向AI伺服器：2025Q1網通約30%、伺服器相關約35%（絕大部分為AI伺服器）、電工含半導體約23%、車用約12%；2024全年約為網通40%、伺服器5%、電工含半導體30%、車用25%。商業模式以接單式、少量多樣及高可靠度客製化PCB製造為主，並受惠於台灣產能、非中國供應鏈與高階伺服器大尺寸板需求。應用面包括5G/光纖網通、高頻/網安/交換機、有線與無線區域網路、寬頻產品、閘道器、GPU運算模組、電源管理、AC/DC、Battery Charger、DC/DC Converter、Power Control、OBC、Server Power、汽車電源、Probe Card、Load Board、Burn-in Board、WLCSP、SSD、充電與儲能設備等。市場報導曾列舉智邦、台林、研華、威強電、融程電、台達電等為客戶群或間接客戶鏈，但公司未完整公開主要客戶名單，故客戶資料須視為非公司逐一確認資訊。

Outlook 2025–2028

2025至2028年展望以AI伺服器PCB、高頻高速網通、電工/電源與車用電子為核心。2025年主要成長動能來自AI伺服器UBB/大尺寸厚板放量、ASIC伺服器平台導入、400G交換器常態出貨，以及800G交換器與低軌衛星產品開發。2025年6月法說會與媒體報導指出，2025Q1伺服器營收占比已約35%，年底有機會超過50%，甚至在樂觀情境達60%至70%；公司2025年資本支出規劃約10億元，用於高階產品與AI伺服器板產能，目標2025年底產能較2024年底增加約50%，2026年再較2025年增加約20%至30%。公司新購第三廠已於2025年6月完成過戶，規劃2025年第3季整地、第4季設備進駐裝機，產能逐季開出，目標2026年三廠滿載。2026年截至5月累計營收約44.88億元、年增約59.76%，2026Q1 EPS約3.51元，顯示AI伺服器訂單與產品組合升級仍具支撐。2027至2028年可期待的中期動能包括AI資料中心GPU/ASIC平台迭代推升大尺寸、高層數、高可靠度PCB需求；800G/1.6T交換器與高速網通升級；電源模組、機器人、工業控制與車用電源板延續少量多樣利基；以及非中國供應鏈趨勢帶來台灣產能溢價。主要風險包括：AI伺服器需求集中於少數大型客戶與平台，若客戶拉貨節奏改變將造成營收波動；新廠與新設備良率爬坡、製程瓶頸及資本支出折舊壓力；高階材料供給、銅價、匯率與美元計價曝險；車用需求復甦不確定；PCB同業擴產造成價格競爭；以及高階大尺寸板對品質、可靠度、交期與客戶認證要求高，若認證或量產良率不如預期將壓縮毛利。2027至2028具體營收與EPS數字未見公司正式指引，故不做量化預測。

Supply Chain

Upstream
  • 台光電 2383 PCB上游高階銅箔基板/低損耗材料代表廠，屬AI伺服器與高速網通PCB關鍵材料供應鏈；未確認為高技直接供應商。
  • 聯茂 6213 PCB上游銅箔基板材料廠，供應高速、高頻與一般PCB材料；未確認為高技直接供應商。
  • 台燿 6274 PCB上游高頻高速銅箔基板材料廠，受惠AI伺服器與網通升級；未確認為高技直接供應商。
  • 金居 8358 PCB上游銅箔廠，銅箔為PCB基材重要原料；未確認為高技直接供應商。
  • 富喬 1815 PCB上游電子級玻璃纖維布供應商，玻纖布為銅箔基板重要材料；未確認為高技直接供應商。
  • 尖點 8021 PCB鑽針、成型刀等耗材及鑽孔服務供應鏈，與PCB製造製程相關；未確認為高技直接供應商。
  • 大量 3167 PCB設備與自動化設備廠，屬PCB產線擴充可能使用的設備供應鏈；未確認為高技直接供應商。
  • 牧德 3563 AOI/檢測設備廠，屬PCB製程檢測設備供應鏈；未確認為高技直接供應商。
Downstream
  • 智邦 2345 市場資料列為高技網通PCB客戶群之一，主要終端應用為交換器、網通設備；公司未逐一公開確認。
  • 台林 5353 市場資料列為高技網通PCB客戶群之一，應用於網通設備；公司未逐一公開確認。
  • 台達電 2308 市場資料列為電源板及車用電源鏈相關主要客戶/通路之一，並可能透過其電源與車用產品鏈間接進入國際車廠；公司未逐一公開確認。
  • 研華 2395 市場資料列為高技工業電腦/電工PCB客戶群之一；公司未逐一公開確認。
  • 威強電 3022 市場資料列為高技工業電腦/電工PCB客戶群之一；公司未逐一公開確認。
  • 融程電 3416 市場資料列為高技工業電腦/電工PCB客戶群之一；公司未逐一公開確認。
  • 大型美系CSP/AI伺服器客戶 媒體與法人資料指出高技AI伺服器UBB/大尺寸板目前以一大型客戶為主，並有其他EMS電子代工大廠詢單；實際客戶名稱未由公司正式揭露。
  • Tesla、Ford、GM、Volkswagen、Gogoro等車用終端品牌 市場資料稱高技可透過台達電等電源與車用供應鏈間接進入新能源車應用；其中Tesla、Ford、GM為美國上市公司，Volkswagen為德國上市公司，Gogoro為海外上市/非台股普通股；非高技直接公開客戶。

Competitors

  • 金像電 2368 台灣PCB廠，AI伺服器與高階伺服器板重要競爭者，高技因AI伺服器UBB題材常被市場類比為小金像電。
  • 博智 8155 高階多層板、伺服器及網通PCB競爭者。
  • 敬鵬 2355 車用PCB大廠，與高技車用PCB應用存在競爭。
  • 燿華 2367 PCB廠，布局車用、低軌衛星、AI與高階板，與高技部分終端應用重疊。
  • 華通 2313 大型PCB廠，產品涵蓋多層板、HDI等，與高技在部分PCB產品與客戶應用重疊。
  • 健鼎 3044 大型PCB製造商，涵蓋伺服器、網通、車用與工業電子等應用，屬同業競爭者。
  • 欣興 3037 PCB與IC載板龍頭，於高階板、HDI、載板與伺服器相關應用具競爭與產業比較意義。
  • 定穎投控 3715 PCB廠，車用與高階板應用與高技部分市場重疊。
  • 南電 8046 IC載板與高階PCB廠，雖產品組合不同，但在AI伺服器高階互連板/載板投資主題下常被列為比較同業。
Sources（15）

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.