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5483

中美晶 Semiconductor As of 2026-06-17 Updated daily after market close

steady quality, fair valuation.

1 active signal
252d high
This page refreshes daily after the close. Add 中美晶 to your watchlist to track signal changes on your next visit.
Valuation 45Quality 61Growth 44Momentum 86Chips 74

Is 中美晶 a buy? Fundamentals and valuation first

  • Above-average profitability.Operating margin is in the 67th market percentile. Latest quarterly ROE ≈ 2.2%.

  • Valuation is neutral.PE is in the 56th market percentile; within its own history, PE is around the 72th percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 4.3% of volume (net buy).

  • 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 +0.70
BearishNeutralBullish

Single-sided accumulation, concentration rising — bullish

  • Single-sided accumulation, concentration rising — bullish
  • 台灣摩根士丹利 holds 11,358 lots
  • sellers have 2,747 lots left, ~452 sessions to clear

Window from 2026-01-17 · Price +55% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 台灣摩根士丹利 has accumulated 11,358 lots since the start (sold 21%), still adding.
  • Main distributor 新加坡商瑞銀 peaked at 8,588 lots, has sold 25%, 6,407 left, paused recently.
  • TDCC big holders (absolute) >1000-lot holders +1.03pp, mid holders +2, retail -1.36pp — concentration shifting upward.
  • Foreign hedge-desk net short Net short -1,120 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
台灣摩根士丹利美商高盛摩根大通凱基-站前港商野村美林
Distributing
新加坡商瑞銀國泰-敦南統一花旗環球國泰證券國票-敦北法人
Desks
own scale
統一-新竹群益金鼎-內湖群益金鼎凱基
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 台灣摩根士丹利 +11,358
    sold 21%· still adding
  • 美商高盛 +8,132
    sold 8%· still adding
  • 摩根大通 +7,449
    sold 19%· still adding
  • 凱基-站前 +5,527
    sold 6%
  • 港商野村 +3,402
    sold 12%· still adding
  • 美林 +2,651
    sold 0%· still adding

Distributing

  • 新加坡商瑞銀 6,407 left
    sold 25%· paused recently
  • 國泰-敦南 1,121 left
    sold 33%· ~60 sessions to clear
  • 統一 313 left
    sold 81%· ~15 sessions to clear
  • 花旗環球 656 left
    sold 60%· ~9 sessions to clear
  • 國泰證券 343 left
    sold 74%· paused recently
  • 國票-敦北法人 226 left
    sold 80%· ~452 sessions to clear

Desks

  • 統一-新竹 -5,703
    unclassified
  • 群益金鼎-內湖 -4,335
    unclassified
  • 群益金鼎 -2,985
    unclassified
  • 凱基 -2,607
    unclassified
Still selling 2,747 lots ~452 sessions to bottom at most
Recent buy/sell force +19,097 absorbed / -1,548 sold buyers slightly ahead
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.

26 historical occurrences (since 2009-12-09)
Average forward return after 252-day price high (breakout)。20-day: Win 61.5%, Sample 26, Median +1.84%, Excess +4.16%, Beat mkt rate 53.8%；60-day: Win 56%, Sample 25, Median +2.61%, Excess +2.49%, Beat mkt rate 40%；120-day: Win 60%, Sample 25, Median +9.46%, Excess +0.37%, Beat mkt rate 44%

120 days after: historical avg +6.84%

20-day +4.75%
60-day +4.88%
120-day +6.84%
20-day
60-day
120-day
Win
61.5%
56%
60%
Sample
26
25
25
Median
+1.84%
+2.61%
+9.46%
Excess
+4.16%
+2.49%
+0.37%
Beat mkt rate
53.8%
40%
44%

Over 25 occurrences, 120-day forward avg gained 6.84%, beat the market by 0.37 pts; win rate 60%.

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)
0-20 644+29.3% +30% 82.1% -0.2%
20-40 780+3% -3.7% 44.1% -9.1%
40-60 335+29.2% -0.5% 49.3% +12.5%
60-80 You are here238+95.1% +94.8% 71% +70.3%
80-100 218+67.6% +46.3% 72.9% +39.3%

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 ≈ 25.92, at the 72.4th percentile of its own history (60-80 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
+15%
Win rate 74.8% Excess +2.2%
664d
+24.2%
Win rate 55.5% Excess +14.6%
353d
Now
-10.6%
Win rate 30.7% Excess -19.3%
244d
60-day momentum down
+8.2%
Win rate 50.9% Excess +2.1%
599d
+49.9%
Win rate 74.1% Excess +36.5%
370d
+8.3%
Win rate 54.8% Excess -3.5%
104d

Currently in “Expensive (own-history top 1/3) × 60-day momentum up”: across 244 historical days, 120-day forward avg declined 10.6%, win rate 30.7%, lagged the market by 19.3%.

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).

92 times historically; 60-day forward avg +2.38%, win rate 45.3%, beating the market by +1.09 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.

66 times historically; 60-day forward avg +4.32%, win rate 52.3%, beating the market by -0.68 pts on average.

What does 中美晶 do? Company profile

半導體業；再生能源、太陽能與綠電服務亦為重要業務 上櫃（櫃買中心）

Overview

5483 對應證券為中美矽晶製品股份有限公司，簡稱中美晶，英文名 Sino-American Silicon Products Inc.，英文簡稱 SAS，為台灣櫃買中心上櫃普通股。公司成立於 1981/01/21，1990/10/26 公開發行，2001/03/02 上櫃；總部位於新竹科學園區新竹市工業東二路8號4樓。董事長為徐秀蘭，總經理為陳振乾。依 2026 年公開股市基本資料，實收資本額約新台幣 64.12 億元，已發行普通股約 641,221,651 股。依 114 年度年報，合併員工數於 2026/03/31 為 11,034 人，2025 年度平均年齡約 42.11 歲、平均服務年資約 11.62 年。依 2026/03/27 年報主要股東名單，前十大股東包括弘望投資 3.91%、復華台灣科技優息 ETF 保管專戶 3.53%、元大台灣高股息優質龍頭基金保管專戶 3.13%、南山人壽 2.32%、張清照 2.07%、威連科技 2.05%、盧明光 1.73%、弘茂投資 1.63%、凱基人壽 1.29%、中華郵政 1.27%。中美晶已由早期矽晶圓與太陽能製造商，轉型為涵蓋半導體矽晶材料、車用電子元件、特殊氣體、化合物半導體材料、太陽能與綠電服務的跨國綜合集團；重要轉投資與關係企業包括環球晶圓 6488、台灣特品化學 4772、宏捷科 8086、朋程科技 8255、續升綠能、續興、艾涅爾電力等。

Business

依 114 年度年報，2025 年合併營收新台幣 781.71 億元，年減 1.89%；營收結構為半導體晶片 81.09%、汽車元件 10.37%、再生能源 4.76%、半導體晶錠 1.09%、其他 2.69%。年報營收結構為合併口徑，半導體晶片與晶錠主要來自環球晶圓等半導體材料事業，汽車元件主要連結朋程，特殊氣體與化合物半導體相關布局連結台特化、宏捷科等關係企業。中美晶母體與再生能源事業產品服務包含多晶高品質矽材料、半導體材料、太陽能模組、儲能與逆變器買賣、高效率單晶矽太陽能電池與模組、P 型與 N 型雙面太陽能電池、客製化太陽能電池、太陽能發電設備建置與維運、儲能系統、光儲系統、再生能源電力與憑證。商業模式上，半導體材料事業屬上游關鍵材料供應，產品供應晶圓代工、IDM、記憶體、功率元件與感測器等製造客戶；再生能源事業則由製造、系統建置、電廠投資/維運、綠電交易、PPA、儲能與節能 ESCO 形成服務平台。2025 年公司將組織定位為製造與服務兩大核心，太陽能製造由續日承接，綠電、售電、儲能與節能服務由續升綠能推動；續升旗下續興聚焦一型案場並服務電子與半導體產業，艾涅爾聚焦三型案場並涵蓋服務業、電信業與金融業客戶。年報揭露 2025 年底續升綠能累計簽訂綠電合約突破 180 億度，續興與艾涅爾 2025 年合併營收較前一年成長近 7 倍。公開年報未揭露具名主要客戶，僅以代號揭露 2024 年有乙客戶銷貨占比 10.24%，2025 年乙客戶降至 9.30%。

Outlook 2025–2028

2025 年實績方面，中美晶合併營收為新台幣 781.71 億元、年減 1.89%，半導體事業仍是最大收入來源，但受終端客戶庫存調整、成熟製程需求疲弱與太陽能供過於求影響，整體成長較溫和。2026 年展望重點包括：一、半導體矽晶圓庫存去化後，AI、先進製程、先進封裝、高階邏輯與部分記憶體需求可望帶動上游矽晶圓拉貨，但成熟製程、8 吋與 6 吋復甦較慢；二、環球晶的全球產能、先進產品組合與 AI 應用需求，是中美晶中長期主要獲利支撐；三、再生能源市場方面，PV InfoLink 等研究機構估 2026 年全球太陽能模組需求約 529GW 至 624GW，長期能源轉型仍支持需求，但中國大陸上游產能過剩使價格壓力延續至 2026 年初；四、台灣 2026 年 11 月太陽光電 20GW 政策目標、屋頂型光電韌性新制、新建築物設置太陽光電設備標準、用電大戶條款與碳費制度，有利屋頂型、高信賴性、BIPV、水上型、浪板型等利基產品，以及綠電交易、儲能與 ESCO；五、年報預估台灣 2026 年綠電需求達 70 億度以上，節能 ESCO 市場約新台幣 300 億元且年成長約 11.6%。2027 至 2028 年屬推估：若 AI 相關半導體投資與全球再生能源裝置量持續擴張，中美晶可受惠於環球晶高階矽晶圓、台特化特殊氣體、宏捷科化合物半導體、朋程車用元件與續升綠能平台化服務；若中國太陽能產能出清與價格回穩，太陽能製造虧損壓力可能下降。主要風險包括中國太陽能供過於求與低價傾銷、國際貿易稅率與產地認定變化、美國能源政策與 IRA 補貼不確定性、台灣案場審查/環評/農漁電共生制度延宕、半導體客戶庫存調整時間拉長、成熟製程需求不振、匯率與利率波動、矽原料與能源成本、關鍵供應商集中及技術替代風險。

Supply Chain

Upstream
  • 矽原料供應商（年報以甲公司、乙公司、丁公司代稱） 中美晶年報揭露矽晶棒主要原料為矽原料，主要供應商以代號揭露且供應狀況良好；2025 年前十大進貨供應商未揭露具名公司，故 stock_id 設為 null。
  • Epi 供應商（年報以戊公司代稱） 年報揭露 Epi 主要供應商以戊公司代稱，供應狀況良好；未揭露實名與掛牌資訊。
  • 台灣特品化學股份有限公司 4772 中美晶關係企業，布局半導體特殊氣體與材料，屬集團半導體供應鏈關鍵環節；此處列為集團上游材料布局，非代表年報揭露其為中美晶主要供應商。
  • 半導體設備、材料與低碳原物料供應商 年報揭露公司推動複數供應商、第二供應商驗證、供應商碳足跡與 ISO/RoHS/RBA 等管理；多數供應商未具名，故 stock_id 設為 null。
Downstream
  • 未揭露半導體客戶（年報以乙客戶代稱） 年報揭露 2024 年乙客戶銷貨占比 10.24%、2025 年降至 9.30%，但未揭露實名；推定屬半導體晶圓/材料下游客戶，stock_id 設為 null。
  • 晶圓代工、IDM、記憶體、功率元件與感測器製造客戶 半導體矽晶圓與材料下游應用族群；年報未揭露具名客戶，故以產業類別描述。
  • 電子與半導體產業綠電客戶 續升綠能旗下續興聚焦一型案場開發並服務電子與半導體產業，提供綠電媒合、PPA、儲能與節能服務；公開資料未逐一揭露客戶名稱。
  • 服務業、電信業與金融業綠電客戶 續升綠能旗下艾涅爾聚焦三型案場開發，客戶涵蓋服務業、電信業及金融業；公開資料未逐一揭露具名公司。

Competitors

  • 台勝科 3532 台灣上市半導體矽晶圓同業，與中美晶集團半導體矽晶圓事業在部分產品與客戶市場競爭。
  • 合晶 6182 台灣上櫃半導體矽晶圓同業，屬矽晶圓供應鏈競爭者。
  • 茂迪 6244 台灣上市太陽能電池/模組同業，與中美晶再生能源製造業務在台灣太陽能市場競爭。
  • 元晶 6443 台灣上市太陽能電池/模組與系統同業。
  • 聯合再生 3576 台灣上市太陽能電池、模組與系統同業。
  • 安集 6477 台灣上市太陽能模組與系統同業。
  • Shin-Etsu Handotai／信越化學 日本上市公司信越化學旗下半導體矽晶圓事業，全球大型矽晶圓供應商；非台股掛牌。
  • SUMCO Corporation 日本上市半導體矽晶圓大廠，非台股掛牌。
  • Siltronic AG 德國上市半導體矽晶圓廠，非台股掛牌。
  • SK Siltron 韓國 SK 集團旗下半導體矽晶圓廠，未在台股掛牌。
Sources（10）

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.