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6139

亞翔 Other Electronics As of 2026-06-17 Updated daily after market close

steady quality, fair valuation.

2 active signals
252d high Revenue ≥20%
This page refreshes daily after the close. Add 亞翔 to your watchlist to track signal changes on your next visit.
Valuation 38Quality 88Growth 92Momentum 86Chips 16

Is 亞翔 a buy? Fundamentals and valuation first

  • Above-average profitability.Operating margin is in the 78th market percentile. Latest quarterly ROE ≈ 10.5%.

  • Valuation is neutral.PE is in the 50th market percentile; within its own history, PE is around the 90th percentile.

  • Foreign investors are net selling.Foreign 20-day net flow ≈ -3.3% of volume (net sell).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 103.3%, above the 20% growth threshold.

  • Signals are active now.On the latest data, signals such as 252-day price high, Revenue YoY ≥ 20% are active — see the historical forward returns after each occurrence below.

Chip flow

Bearish -0.44
BearishNeutralBullish

Distribution to retail — bearish

  • Distribution to retail — bearish
  • 永豐金證券 holds 1,949 lots
  • sellers have 3,720 lots left, ~51 sessions to clear

Window from 2026-01-17 · Price +36% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 永豐金證券 has accumulated 1,949 lots since the start (sold 0%), still adding.
  • Main distributor 摩根大通 peaked at 3,858 lots, has sold 54%, 1,775 left, ~28 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders -4.75pp, mid holders +3, retail +2.86pp — drifting down to retail.
  • Foreign hedge-desk net short Net short -6,771 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
永豐金證券港商野村永豐金-匯立群益金鼎富邦證券富邦-新店
Distributing
摩根大通凱基-台北大和國泰台新國泰證券宏遠證券
Desks
own scale
新加坡商瑞銀台灣摩根士丹利元大證券美林
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 永豐金證券 +1,949
    sold 0%· still adding
  • 港商野村 +1,339
    sold 13%· still adding
  • 永豐金-匯立 +1,254
    sold 10%
  • 群益金鼎 +1,176
    sold 7%· still adding
  • 富邦證券 +840
    sold 0%· still adding
  • 富邦-新店 +546
    sold 0%· still adding

Distributing

  • 摩根大通 1,775 left
    sold 54%· ~28 sessions to clear
  • 凱基-台北 1,605 left
    sold 29%· ~51 sessions to clear
  • 大和國泰 526 left
    sold 65%· paused recently
  • 台新 282 left
    sold 33%· paused recently
  • 國泰證券 246 left
    sold 39%· paused recently
  • 宏遠證券 165 left
    sold 58%· paused recently

Desks

  • 新加坡商瑞銀 -3,060
    hedge desk · will cover
  • 台灣摩根士丹利 -1,571
    hedge desk · will cover
  • 元大證券 -1,135
    unclassified
  • 美林 -1,108
    hedge desk · will cover
Still selling 3,720 lots ~51 sessions to bottom at most
Recent buy/sell force +3,664 absorbed / -1,531 sold buyers slightly ahead
Hedge-desk net short -6,521 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)

Weak direction: big-holder share fell while retail share rose.

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.

36 historical occurrences (since 2009-11-20)
Average forward return after 252-day price high (breakout)。20-day: Win 67.6%, Sample 34, Median +5.8%, Excess +3.55%, Beat mkt rate 55.9%；60-day: Win 68.8%, Sample 32, Median +10.29%, Excess +10.87%, Beat mkt rate 62.5%；120-day: Win 64.5%, Sample 31, Median +32.85%, Excess +31.48%, Beat mkt rate 54.8%

120 days after: historical avg +42.76%

20-day +6.18%
60-day +14.89%
120-day +42.76%
20-day
60-day
120-day
Win
67.6%
68.8%
64.5%
Sample
34
32
31
Median
+5.8%
+10.29%
+32.85%
Excess
+3.55%
+10.87%
+31.48%
Beat mkt rate
55.9%
62.5%
54.8%

Over 31 occurrences, 120-day forward avg gained 42.76%, beat the market by 31.48 pts; win rate 64.5%.

Monthly revenue YoY ≥ 20% (from filing deadline)

Active · now 103.26%

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

119 historical occurrences (since 2007-04-23)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 63%, Sample 108, Median +1.37%, Excess +2.37%, Beat mkt rate 54.6%；60-day: Win 59.4%, Sample 106, Median +1.73%, Excess +4.53%, Beat mkt rate 50.9%；120-day: Win 57.3%, Sample 103, Median +3.28%, Excess +10.57%, Beat mkt rate 48.5%

120 days after: historical avg +17.21%

20-day +3.71%
60-day +8.37%
120-day +17.21%
20-day
60-day
120-day
Win
63%
59.4%
57.3%
Sample
108
106
103
Median
+1.37%
+1.73%
+3.28%
Excess
+2.37%
+4.53%
+10.57%
Beat mkt rate
54.6%
50.9%
48.5%

Over 103 occurrences, 120-day forward avg gained 17.21%, beat the market by 10.57 pts; win rate 57.3%.

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)
0-20 218+174.1% +52.2% 99.5% +141.7%
20-40 533+76.3% +13.5% 82.7% +52.8%
40-60 674+48.7% +6.7% 66.2% +31%
60-80 862+24.2% +4.5% 51.9% +9.8%
80-100 You are here756+22.5% +13.8% 78.6% +14.4%

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 ≈ 22.37, at the 90.5th 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
+49.2%
Win rate 83.7% Excess +38%
294d
+23.2%
Win rate 71.1% Excess +17.6%
644d
Now
+23.2%
Win rate 59.6% Excess +9.5%
888d
60-day momentum down
+26.7%
Win rate 96.6% Excess +8.1%
204d
+12.1%
Win rate 66% Excess +6.7%
529d
+3.4%
Win rate 38.2% Excess +1.8%
604d

Currently in “Expensive (own-history top 1/3) × 60-day momentum up”: across 888 historical days, 120-day forward avg gained 23.2%, win rate 59.6%, beat the market by 9.5%.

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.

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.

68 times historically; 60-day forward avg +9.89%, win rate 58.2%, beating the market by +5.57 pts on average.

What does 亞翔 do? Company profile

其他電子業／電子設備工程／無塵室與機電整合工程 上市（台灣證券交易所）

Overview

亞翔工程股份有限公司為營運公司普通股，成立於1978/12/07，總部登記於新北市汐止區大同路一段175號14樓，主要營運據點亦揭露台北市內湖區內湖路一段120巷17號5樓。公司於2002/01/22上櫃、2003/08/25上市；董事長為姚祖驤，總經理兼發言人為蔣曉麟。公開資料顯示資本額約新台幣23.56億元、發行普通股約2.35億股。2025年股東會年報揭露截至2025/02/28集團員工合計4,674人，2025/12法說新聞則揭露集團總人數4,958人。主要子公司包括榮工工程、亞翔系統集成科技（蘇州）、尊偉、成都翔生實業、成都翔生投資等；亞翔持有中國A股上市子公司亞翔集成（603929.SH）約53.99%。2025/03/18主要股東包括生生投資10.48%、懷陽投資6.04%、薰輝投資興業4.93%、韋日投資3.88%、元大證券受託保管資本聯合銀行投資專戶3.07%、姚祖驤2.79%、渣打受託保管凱基證券亞洲投資專戶2.61%、昇輝投資2.55%、趙玉華1.41%、林辰陽1.02%。

Business

亞翔主業為生化無菌室、電子業無塵室及相關機電、製程管線之設計與建造，尤以TURN-KEY總責任承包與EPC（設計、採購、施工）整廠建廠服務為特長，服務涵蓋規劃、設計、採購、施工安裝、系統整合、試俥調適、驗證、維護保養與保固。2024年年報揭露營業比重為其他（含統包工程）63.27%、無塵室工程28.92%、機電工程3.93%、製程管路工程3.88%；2024年合併營收650.90億元，其中工程收入636.98億元、銷貨收入13.92億元。區域別收入為其他國家313.12億元、台灣200.57億元、中國大陸含香港137.21億元，顯示新加坡與東協工程已是重要成長來源。服務產業包括半導體晶圓代工、記憶體、先進封裝、面板、生技醫療、生化製藥、商業大樓、住宅大樓、化工、太陽能、節能改善、軌道、機場、能源與公共工程。商業模式以專案承攬為主，工程收入依IFRS 15完工比例認列；前期可能收少部分預收款，後續依工程階段驗收請款，常見計價驗收後30至90天付款，採購及分包則常見訂金10%至35%、貨到55%至80%、驗收尾款10%與月結30至120天。客戶集中度會隨大型專案完工進度波動；2024年年報以匿名方式揭露第一大客戶「甲公司」占銷貨淨額46.70%。

Outlook 2025–2028

2025至2028年的核心成長動能來自AI、高效能運算、先進製程、記憶體與先進封裝擴產帶動的無塵室、機電、製程管線與整廠統包需求。公司2025年股東會年報指出，AI、雲端服務、5G/6G、精準醫療、新能源、電動車、自動駕駛、機器人與低軌衛星等應用將帶動半導體晶圓代工、記憶體、測試封裝、面板與生技醫療產業持續建廠與擴廠，公共工程投資亦提供需求支撐。2025/06法說新聞揭露亞翔前5月新簽訂單957億元、在手訂單2,084億元，皆創歷史新高；在手訂單中半導體占63%，區域為東協55%、台灣43%、中國約2%，且訂單認列期普遍約2年，代表2025下半年至2027年前後營收能見度較高。2025/12法說新聞進一步揭露當年新簽訂單1,121億元、97%來自半導體，在建工程合約金額1,753億元，東協與半導體仍為主軸。台灣展望包括北中南捷運、鐵公路、機場、水資源、能源、商辦、資料中心、AI驅動半導體製造鏈、高階PCB、IC載板、生醫製藥；東協以新加坡、馬來西亞、越南具潛力，新加坡案件包含12吋晶圓代工、記憶體先進封裝與美系記憶體廠EPC統包；中國市場相對保守但仍有儲存晶片、IC、生醫、PCB商機。公司技術面持續導入BIM、二次配管資訊管理、微振在線監測、潔淨環境監測控制與綠色工程。主要風險包括半導體資本支出循環反轉、單一大型客戶或大型專案集中、工程估計成本與完工比例認列偏差、缺工與分包成本上升、原材料與設備交期、工程款收付時點造成營運資金壓力、海外新加坡與東協執行風險、匯率與地緣政治、中國房市低迷拖累成都土地開發、碳費與供應鏈減碳成本，以及大型統包專案品質、工期與保固責任。

Supply Chain

Upstream
  • 高架地板、FFU、空調箱、內裝材料、照明設備、電線電纜、濾網、管類、閥類、監控系統等供應商 年報揭露之主要材料設備類別；公司未公開主要供應商真名，且指出單一供應商占比不大、供貨集中風險不高。
  • 工程分包與協力廠商 亞翔依工程性質、業主需求、施工地點、施工品質與配合度選擇分包廠商；多數未揭露公司名稱或是否上市櫃。
  • Takenaka Singapore Pte Ltd 新加坡共同成立Takenaka-L&K Joint Venture LLP之合作夥伴；非台股上市櫃公司。
  • Lum Chang Builders Pte Ltd 2025年公告與亞翔新加坡分公司共同成立L&K-LCB Joint Venture LLP以擴展新加坡業務；非台股上市櫃公司。
Downstream
  • 台積電 2330 半導體晶圓代工客戶；公開新聞揭露亞翔承接台積電先進封裝AP8拆除、MEP與無塵室工程，以及高雄F22 P1/P2/P3地下管道工程；年報亦列台積電南京相關機電工程。
  • 聯電 2303 半導體晶圓代工客戶；公開新聞與年報揭露亞翔承接聯電新加坡廠、P3/P4廠及新加坡分公司Cleanroom、HVAC、消防、電氣材料等工程。
  • 世界先進 5347 半導體晶圓代工客戶／合資案相關方；公開新聞揭露亞翔取得世界先進與NXP合資VSMC之CSA、土建與機電統包案。
  • 恩智浦半導體（NXP） 與世界先進合資VSMC，新加坡專案相關方；美國上市公司，非台股上市櫃。
  • 美光科技 公開新聞稱亞翔取得美系記憶體廠新加坡EPC／廠務統包工程；美國上市公司，非台股上市櫃，部分細節未見公司完整正式公告。
  • 中芯國際 中國半導體客戶；年報列中芯深圳、天津、上海、北京等廠務、潔淨室或電力系統工程；港股／中國掛牌，非台股上市櫃。
  • 福建省晉華積體電路 中國記憶體客戶；年報列電力擴充、Hook up、機電水二次配等工程；非台股上市櫃。
  • 長江存儲科技 中國記憶體客戶；年報列國家記憶體基地FAB2潔淨室與通用配電工程；未上市、非台股上市櫃。
  • 交通部鐵道局／地方捷運與公共工程業主 公共工程下游客戶，包括捷運、鐵路、機場、能源、水資源與區段徵收等；政府機關或公營事業，非台股上市櫃。
  • 台灣電力公司 能源公共工程業主；年報列大林電廠筒式煤倉系統統包工程，非上市櫃公司。
  • 台灣中油公司 能源公共工程業主；年報列台中廠三期氣化設施及整體管線統包工程，非上市櫃公司。

Competitors

  • 漢唐 2404 台股上市無塵室與廠務工程主要同業，常與亞翔、洋基工程、聖暉、帆宣並列半導體建廠／廠務概念股。
  • 聖暉* 5536 台股上櫃無塵室與機電整合同業。
  • 洋基工程 6691 台股上市無塵室與機電統包工程同業。
  • 帆宣 6196 台股上市廠務、系統整合與設備工程同業。
  • 漢科 3402 台股上櫃廠務系統與高科技工程同業。
  • 朋億* 6613 台股上櫃製程供應系統、機電與廠務工程同業。
  • 信紘科 6667 台股上櫃廠務供應系統與半導體相關工程同業。
  • 中鼎 9933 台股上市大型統包工程與工程服務集團，在大型EPC與公共／工業工程領域具競爭或替代關係。
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.