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6152

百一 Communications & Internet 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 百一 to your watchlist to track signal changes on your next visit.
Valuation 22Quality 9Growth 89Momentum 41Chips 56

Is 百一 a buy? Fundamentals and valuation first

  • Weak profitability.Operating margin is in the 9th market percentile. Latest quarterly ROE ≈ -2.9%.

  • Valuation is high.PE is in the 96th market percentile; within its own history, PE is around the 86th percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 1.1% of volume (net buy).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 78.6%, 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 -0.07
BearishNeutralBullish

Institutional rotation, concentration steady — neutral

  • Institutional rotation, concentration steady — neutral
  • 新光-台南 holds 1,362 lots
  • sellers have 1,470 lots left, ~170 sessions to clear

Window from 2026-01-17 · Price -2% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 新光-台南 has accumulated 1,362 lots since the start (sold 1%), still adding.
  • Main distributor 凱基-台北 peaked at 1,448 lots, has sold 85%, 221 left, ~8 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders +0.49pp, mid holders -5, retail +1.88pp — concentration shifting upward.
  • Foreign hedge-desk net short Net short -102 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
新光-台南凱基-埔墘合庫-基隆華南永昌-東昇台灣企銀-北高雄康和-內湖
Distributing
凱基-台北港商野村美商高盛美林台灣摩根士丹利國泰-敦南
Desks
own scale
元大證券永豐金-中壢富邦-台北兆豐-高雄
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 新光-台南 +1,362
    sold 1%· still adding
  • 凱基-埔墘 +1,093
    sold 0%
  • 合庫-基隆 +656
    sold 0%· still adding
  • 華南永昌-東昇 +426
    sold 0%· still adding
  • 台灣企銀-北高雄 +392
    sold 0%
  • 康和-內湖 +367
    sold 0%· still adding

Distributing

  • 凱基-台北 221 left
    sold 85%· ~8 sessions to clear
  • 港商野村 197 left
    sold 81%· ~123 sessions to clear
  • 美商高盛 245 left
    sold 71%· ~31 sessions to clear
  • 美林 156 left
    sold 78%· ~25 sessions to clear
  • 台灣摩根士丹利 108 left
    sold 83%· ~3 sessions to clear
  • 國泰-敦南 188 left
    sold 61%· paused recently

Desks

  • 元大證券 -2,362
    unclassified
  • 永豐金-中壢 -2,146
    unclassified
  • 富邦-台北 -1,279
    unclassified
  • 兆豐-高雄 -881
    unclassified
Still selling 1,470 lots ~170 sessions to bottom at most
Recent buy/sell force +1,691 absorbed / -1,322 sold buyers slightly ahead
Hedge-desk net short -3 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 78.63%

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

61 historical occurrences (since 2007-04-23)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 57.6%, Sample 59, Median +2.11%, Excess +1.99%, Beat mkt rate 49.2%；60-day: Win 55.2%, Sample 58, Median +2.7%, Excess -1.56%, Beat mkt rate 39.7%；120-day: Win 47.4%, Sample 57, Median -0.24%, Excess -5.45%, Beat mkt rate 36.8%

120 days after: historical avg +3.25%

20-day +3.49%
60-day +4.07%
120-day +3.25%
20-day
60-day
120-day
Win
57.6%
55.2%
47.4%
Sample
59
58
57
Median
+2.11%
+2.7%
-0.24%
Excess
+1.99%
-1.56%
-5.45%
Beat mkt rate
49.2%
39.7%
36.8%

Over 57 occurrences, 120-day forward avg gained 3.25%, lagged the market by 5.45 pts; win rate 47.4%.

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 29Insufficient data
20-40 175-9% -6.9% 29.7% -26.1%
40-60 140+2.8% -4.8% 36.4% -25%
60-80 300-13.6% -5.6% 35.3% -38.6%
80-100 You are here644+1.7% -0.4% 49.5% -30.8%

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 ≈ 153.0, at the 86.1th 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
-2.8%
Win rate 49.4% Excess -9.6%
89d
-6.9%
Win rate 18.4% Excess -15.3%
158d
+8.6%
Win rate 42.6% Excess -8.7%
331d
60-day momentum down
+1.8%
Win rate 68.3% Excess -9.2%
63d
+11.5%
Win rate 58.3% Excess -3.1%
218d
Now
-6.5%
Win rate 35% Excess -18.8%
549d

Currently in “Expensive (own-history top 1/3) × 60-day momentum down”: across 549 historical days, 120-day forward avg declined 6.5%, win rate 35%, lagged the market by 18.8%.

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.

18 times historically; 60-day forward avg -2.06%, win rate 33.3%, beating the market by -7.98 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.

55 times historically; 60-day forward avg +2.22%, win rate 48.1%, beating the market by -1.82 pts on average.

What does 百一 do? Company profile

電子業－通信網路業；衛星通訊、數位機上盒、網通與AI智慧應用設備 台灣證券交易所上市

Overview

6152 對應證券為百一電子股份有限公司，證券類型為上市普通股。公司成立於 1995-06-12，公開發行日為 2000-06-29，興櫃日為 2002-01-02，上櫃日為 2002-04-17，上市日為 2009-12-08。總部位於桃園市中壢區自強一路3號，統一編號 89549585，實收資本額 1,677,384,630 元，已發行普通股 167,738,463 股，面額新台幣 10 元，無特別股、無公司債。公司官網揭露主要經營業務為有線通信機械器材製造業、無線通信機械器材製造業、電信管制射頻器材製造業及輸入業。董事長為許錦輝；公開資訊與新聞公告顯示 2026-04-01 起由許錦輝董事長兼任總經理與發言人，但公司官網基本資料頁仍可見舊任代理總經理資訊，故此人事欄以較新的公告與股市資料為準。2024 年報揭露 2025-04-19 主要股東包括許錦輝 7,222,196 股、謝德崇 5,544,555 股、李明昌 4,006,988 股、李樹枝 3,424,031 股、林高煌 2,000,000 股、偉城投資 1,993,340 股、謝東連 1,976,975 股、高輝投資 1,590,339 股、吳麗華 1,000,000 股、匯豐銀行託管摩根士丹利國際有限公司專戶 961,351 股。2024 年個體員工數 140 人，2025-04-30 為 138 人，平均年齡約 45.89 歲、平均服務年資約 15.11 年。重要子公司與關係企業包括東莞百一電子、百一寬頻科技（深圳）、翰碩寬頻科技（深圳）、北京加維通訊電子技術、成一電子等，主要從事彩色電視接收器、天線、天線反射器、寬頻接入網通信設備、無線局域網設備、電子產品與無線通訊IC等相關業務。

Business

百一主要從事數位通訊產品設計、製造與銷售，核心產品包括數位機上盒 STB、衛星通訊低雜訊降頻器 LNB、數位頭端系統 Headend、DAB 數位音訊廣播晶片與模組、無線通信產品，以及 iPhO 人工智慧電話秘書、AI-Care 日夜照護安全系統、AI 影像辨識、安全照護、智慧居家與智慧長照醫療相關產品。2024 年報揭露主要商品營收比重為數位通訊產品 100%。2024 年合併營收 2,268,560 仟元，較 2023 年 2,189,249 仟元成長 3.62%，但毛利率由 2023 年約 19% 下滑至 2024 年約 16%，營業損失擴大至 170,856 仟元，本期淨損 40,505 仟元。銷售地區以外銷為主，2024 年依客戶所在地區分，美國 923,118 仟元、占 40.69%；瑞士 415,387 仟元、占 18.31%；馬來西亞 355,786 仟元、占 15.68%；台灣 242,748 仟元、占 10.70%；中國大陸 144,434 仟元、占 6.37%；其他國家 187,087 仟元、占 8.25%。商業模式上，公司由傳統 OEM/ODM 製造逐步提高直接面對營運商比例，強調高彈性軟硬體客製化、CAS/DRM 鎖碼與內容保護、Android TV / Google TV / RDK 平台整合、OTA 遠端更新、用戶設備遠端診斷、廣告推播與緊急訊息跑馬燈等系統整合服務。年報揭露主要客戶因契約限制以 A、B、C 公司代號表示：2024 年 A 公司銷售 915,177 仟元、占 40.34%，為 IP Phone 產品主要客戶；B 公司銷售 355,786 仟元、占 15.68%，與標案量產出貨相關；C 公司銷售 415,387 仟元、占 18.31%，為近年開發歐美市場數位機上盒產品之主力客戶。主要客戶類型為衛星通訊商、電信系統服務商、OTT 內容商、有線電視與電信營運商。2024 年前十大客戶應收款占應收款總額 94.30%，顯示信用風險集中於主要客戶，但年報另稱主要單一銷貨客戶占營收比率區間約 18.11% 至 33.17%，尚無銷貨集中風險；兩者衡量基礎不同，需分別解讀。

Outlook 2025–2028

2025 至 2028 展望重點在四條線：一是 STB 從單純硬體轉向智慧家庭、OTT/IPTV、Hybrid DVB+IP、Android TV、RDK 與高階客製化系統整合；二是寬頻閘道器與 WiFi 7、xPON、GPON、Tri-Band/Dual-Band Gateway 等家庭網通產品；三是低軌與多軌衛星通訊，包含 Ka Vsat BUC+LNB、GEO+LEO Ku-band horn array antenna、up/down converter、海事天線載台、ACU 天線控制板等；四是 AI 應用，包含 iPhO 結合大型語言模型、會議轉錄、Edge 端語言模型、AI-Care 與 AI 視覺辨識。2024 年報列示 2025 年研發計畫與預計量產時程，包括 AN7551 Dual-Band WiFi 7 GPON、BCM72178 RDK Satellite Hybrid、RTD1325 Android TV IP、RTD1319D Cable/Satellite/ISDBT Hybrid、TMS 後台管理系統、S905X5 AOSP Signage、MT5751 Connected Cable、S905Y5 DVB-T2 zapper、GEO+LEO Ku-band 海事與天線產品、iPhO+LLM、AI 視覺辨識等。產業面有利因素包括 OTT 與串流影音滲透、4K/8K 高畫質、智慧家庭中控需求、WiFi 7 與光纖寬頻升級、5G FWA、低軌衛星終端設備需求、AI 邊緣運算與智慧照護應用。公司年報引用產業資料指出低軌衛星與地面終端設備需求具長期成長潛力，SpaceX Starlink、OneWeb、Amazon Kuiper 等計畫將帶動天線、通訊模組與終端設備供應鏈商機。主要風險包括 STB 市場受智慧電視內建 OTT 平台分流、傳統衛星/有線電視訂戶衰退、低價競爭、產品生命週期縮短、客戶驗證期長、主要客戶與應收款集中、IC/PCB/關鍵零組件供應與價格波動、美元與人民幣匯率波動、研發費用占營收偏高且新產品量產不確定、低軌衛星題材與實際訂單落地可能有落差。公司 2025 年後若能把 WiFi 7 Gateway、Android/RDK STB、低軌衛星海事/地面設備與 AI 軟體服務轉為量產訂單，營收結構與毛利率有改善空間；若仍停留在樣品驗證或標案遞延，則虧損與研發負擔可能延續。2026-2028 具體營收與獲利目標未見公司公開量化財測，故不推估數字。

Supply Chain

Upstream
  • 聯發科技／達發科技 2454 年報研發計畫提及將選用 Airoha／MTK 方案投入 GPON／Dual-Band WiFi 7 主流產品開發；達發科技為聯發科集團網通晶片公司，台股掛牌代號另為 6526，但此處以年報文字之 MTK 來源標示聯發科。
  • 達發科技 6526 Airoha 品牌對應達發科技，提供寬頻、網通與連線晶片方案；與百一 WiFi 7／GPON Gateway 研發方向相關。
  • 瑞昱半導體 2379 年報提及基於瑞昱晶片方案完成 Android Pure IP 與 Hybrid 雙模 Netflix Self-Serve 專案，屬 STB／多媒體 SoC 上游。
  • 高通 Qualcomm 美國上市公司；百一已投入基於 Qualcomm 方案的 XGSPON／Tri-Band WiFi 7 Broadband Gateway，屬寬頻閘道器上游晶片方案供應商。
  • 博通 Broadcom 美國上市公司；百一研發計畫列有 BCM72178 RDK Satellite Hybrid，屬 STB／衛星接收 SoC 方案供應商。
  • Amlogic 中國科創板上市公司；百一研發計畫列有 S905X5、S905Y5 系列產品，屬 Android／DVB 機上盒 SoC 方案供應商。
  • Nagravision／Irdeto／Verimatrix／Synamedia／Conax 多為海外或非台股掛牌內容保護與條件接收系統供應商；百一 STB 產品需整合 CAS／DRM，以符合營運商與內容商要求。
  • A公司、B公司等主要供應商 2024 年報因契約限制以代號揭露主要供應商；2024 年 A 公司進貨 362,835 仟元、占 21.46%，2023 年 A、B 公司分別占 21.07%、13.67%，推估為關鍵 IC、模組或零組件供應來源，但實名未公開。
  • PCB、IC、電晶體、二極體合格供應商 年報揭露主要原料為 IC、電晶體、二極體、PCB 板，國內外均有合格供應商供貨；未揭露具名廠商。
Downstream
  • A公司 年報因契約限制未揭露實名；2024 年銷售 915,177 仟元、占 40.34%，為 IP Phone 產品主要客戶，2025 年第一季占銷貨 43.79%。
  • B公司 年報因契約限制未揭露實名；2024 年銷售 355,786 仟元、占 15.68%，與標案量產出貨相關，2024 年因下單趨緩而較前一年減少。
  • C公司 年報因契約限制未揭露實名；2024 年銷售 415,387 仟元、占 18.31%，為近年開發歐美市場數位機上盒產品之主力客戶。
  • 衛星通訊商、電信系統服務商、OTT或有線電視系統營運商 MoneyDJ 與年報描述之主要客戶類型，百一提供 STB、Headend、LNB、網通終端與軟硬體整合方案；多數客戶為海外或未具名營運商。
  • TBC／大大寬頻、中嘉、凱擘 年報新產品規劃提及 RTD1319D Android Cable Hybrid 鎖定台灣三大 CATV 業者需求；此為目標應用市場與潛在客戶，非年報具名主要客戶。
  • 中華電信 2412 年報提及公司配合中華電信取得首個碳標籤機上盒產品；屬台灣電信營運商與終端設備應用關係，是否為主要銷貨客戶未由年報具名確認。
  • 印度、巴西、法國、馬來西亞、歐洲等地營運商與通路 年報多項新 STB／Gateway 研發計畫針對馬來西亞、印度、巴西、法國、歐洲運營商或零售市場；多為海外未具名客戶或通路。

Competitors

  • 台揚科技 2314 台股上市通信網路／衛星通訊設備公司，與百一在衛星通訊、微波與網通設備供應鏈具部分競爭或題材重疊。
  • 兆赫電子 2485 台股上市通信網路與視訊、機上盒、寬頻設備相關公司；StockFeel 將其列為百一衛星微波同業競爭者。
  • 昇達科技 3491 台股上櫃微波與衛星通訊元件公司，低軌衛星供應鏈能見度高；與百一低軌衛星與微波通訊布局有產業競合關係。
  • 耀登科技 3138 台股上櫃天線、射頻與測試服務公司；StockFeel 列為衛星微波同業，與百一天線、衛星終端研發方向部分重疊。
  • 譁裕實業 3419 台股上櫃天線與無線通訊相關公司；StockFeel 列為百一衛星微波競爭對手。
  • 德晉科技 3466 台股上櫃通信網路與衛星微波相關公司；MoneyDJ 與 StockFeel 均提及其為競爭廠商之一。
  • 明泰科技 3380 台股上市網通設備 ODM 公司，布局低軌衛星地面接收站與網通終端，與百一在網通與衛星應用市場有競爭。
  • 仲琦科技 2419 台股上市寬頻網通設備公司，投入用戶端設備與低軌衛星相關應用，與百一 Broadband Gateway、STB／終端設備方向相近。
  • 瑞祺電通 6416 台股上櫃網通設備與嵌入式平台公司，在網通硬體與邊緣設備市場與百一部分產品方向相鄰。
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.