Free trial

Ask AI to review this stock

Copy the prompt to get recent events, historical reactions, and a short research brief.

Tell your AI:

Help me set up FinLab and analyze 6154 順發. Please read: https://finlab.finance/en/setup?stock=6154

No install, open FinLab Studio

6154

順發 Electronics Distribution As of 2026-06-17 Updated daily after market close

steady quality, fair valuation, no active signal today.

This page refreshes daily after the close. Add 順發 to your watchlist to track signal changes on your next visit.

Is 順發 a buy? Fundamentals and valuation first

Above-average profitability.Operating margin is in the 43th market percentile. Latest quarterly ROE ≈ 3.0%.
Valuation is neutral.PE is in the 33th market percentile; within its own history, PE is around the 62th percentile.
Foreign investors are net buying.Foreign 20-day net flow ≈ 4.4% of volume (net buy).

Chip flow

Neutral -0.11

BearishNeutralBullish

Institutional rotation, concentration steady — neutral

Institutional rotation, concentration steady — neutral
群益金鼎-民權 holds 216 lots
sellers have 120 lots left, ~110 sessions to clear

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

Largest holder 群益金鼎-民權 has accumulated 216 lots since the start (sold 2%), holding.
Main distributor 合庫證券 peaked at 80 lots, has sold 72%, 22 left, ~18 sessions to clear at the recent pace.
TDCC big holders (absolute) >1000-lot holders -1.31pp, mid holders -1, retail +1.10pp — drifting down to retail.
Foreign hedge-desk net short Net short -6 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

群益金鼎-民權大昌-桃園凱基-斗六元大-六合第一金-新竹國泰-敦南

Distributing

合庫證券玉山-新莊康和-嘉義凱基-台北台新-五權西富邦-台北

Desks

own scale

永豐金-南投永豐金-竹科台中銀-高雄元大-草屯

Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline

Branch details Unit: lots

Accumulating

群益金鼎-民權 +216

sold 2%
大昌-桃園 +145

sold 0%
凱基-斗六 +100

sold 0%
元大-六合 +95

sold 0%· still adding
第一金-新竹 +85

sold 0%
國泰-敦南 +73

sold 1%· still adding

Distributing

合庫證券 22 left

sold 73%· ~18 sessions to clear
玉山-新莊 35 left

sold 46%· ~18 sessions to clear
康和-嘉義 22 left

sold 63%· ~110 sessions to clear
凱基-台北 40 left

sold 30%· paused recently
台新-五權西 22 left

sold 31%· paused recently
富邦-台北 7 left

sold 71%· paused recently

Desks

永豐金-南投 -1,053

unclassified
永豐金-竹科 -284

unclassified
台中銀-高雄 -61

unclassified
元大-草屯 -55

unclassified

Still selling 120 lots ~110 sessions to bottom at most

Recent buy/sell force +443 absorbed / -89 sold buyers slightly ahead

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

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.

0-20 +2.1%

20-40 +5.3%

40-60 -4%

60-80 +2.9% Now

80-100 +3.6%

PE percentile band	Sample days	240-day avg return	Median	Win rate	Avg excess (vs index)
0-20	244	+2.1%	+2.8%	63.1%	-2.6%
20-40	101	+5.3%	+9.4%	78.2%	-13.7%
40-60	271	-4%	-4.6%	44.6%	-6%
60-80 You are here	917	+2.9%	+5.1%	72.5%	-12%
80-100	1509	+3.6%	-2.3%	39%	-18.1%

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 ≈ 16.63, at the 62.1th 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

+1.4%

Win rate 52.1% Excess -3.3%

121d

Now

+0.3%

Win rate 43.3% Excess -3.2%

270d

+1%

Win rate 50.8% Excess -7.2%

1193d

60-day momentum down

+0.2%

Win rate 45.5% Excess +2.6%

191d

+1.3%

Win rate 50% Excess -2.8%

198d

+1.9%

Win rate 53.9% Excess -10.7%

1173d

Currently in “Mid × 60-day momentum up”: across 270 historical days, 120-day forward avg gained 0.3%, win rate 43.3%, lagged the market by 3.2%.

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.

252-day price high (breakout)

Pending

Adjusted close makes a new 252-day high; repeats within 20 days counted once.

22 times historically; 60-day forward avg -0.32%, win rate 36.4%, beating the market by -1.79 pts on average.

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).

10 times historically; 60-day forward avg +2.36%, win rate 40%, beating the market by -3.4 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.

9 times historically; 60-day forward avg -1.3%, win rate 57.1%, beating the market by -2.3 pts on average.

What does 順發 do? Company profile

電子通路業／3C資訊商品零售通路上櫃

Overview

6154 對應之證券為順發電腦股份有限公司普通股，於櫃買中心上櫃交易。公司法定成立日為1995/12/21，營運源流可追溯至1982年嘉義地區門市零售；總部位於高雄市三民區建國二路2號。公開資料顯示上櫃日期為2002/02/18，公開發行日期為2000/07/17，興櫃日期為2002/01/02。2026/06/17可查資料顯示實收資本額約新台幣8.01億元，已發行普通股80,080,000股，每股面額10元，無特別股。董事長為吳錦昌；2026/05/29董事會因任期屆滿改選後，吳錦昌續任董事長；總經理為黃柏峰，發言人為楊佳芳。2024年永續報告書揭露期末員工總人數558人，其中正職519人、非正職39人；公司專營3C資訊商品銷售，2024年揭露共有60家直營門市，另有人力銀行與公司簡介資料稱全台約70家直營門市與電商平台，門市數可能因統計口徑或時間不同而差異。主要股東方面，可查董監持股資料顯示宜鴻投資股份有限公司為法人董事，2026年董事改選資料提及宜鴻投資持股11,869,885股；另歷史董監持股資料曾列佳鴻投資股份有限公司為大股東約13,102張，惟未取得2026年最新完整十大股東名冊，故主要股東資訊以已揭露董監持股為準。

Business

順發為台灣3C通路零售商，主要銷售電腦、筆記型電腦、電腦零組件、螢幕、鍵盤滑鼠、印表機、智慧型手機、通訊商品、生活家電、遊戲主機與遊戲軟體等，並提供維修、保固、會員、分期付款、買貴退差價等通路服務。公司商業模式以向3C品牌原廠、製造商、代理商或物流業者採購商品後，透過直營門市、官方網站、購物網與第三方平台銷售給個人消費者、家庭用戶、玩家族群及中小企業／公司行號。可查年報摘要與外部研究指出，順發銷售商品主要由3C商品製造商、代理商或物流業者供應，並無生產製造流程；較舊公開資料曾揭露營收比重約為3C商品銷售99%、勞務收入及其他1%，2024年MoneyDJ報導則指出資訊產品銷售占總營收八成以上。2026年第一季合併營收1,046,919仟元、營業毛利202,964仟元、營業利益46,776仟元、歸屬母公司業主淨利38,070仟元、EPS 0.48元；2026年1至5月累計營收1,672,800仟元，年增4.58%。2024年合併營收約37.07億元，2025年全年營收約39.27億元，顯示近年營收規模約在37至39億元區間。公司另強調公益型企業定位，公開徵才資料稱2010年起從盈餘提撥20%協助弱勢學童，形成差異化品牌形象。

Outlook 2025–2028

2025至2028年展望：一、成長動能來自PC換機與Windows 10終止支援。Microsoft已於2025/10/14終止Windows 10支援，帶動消費者與企業升級Windows 11或汰換舊機；Omdia與Gartner資料顯示2025年下半年全球PC出貨受Windows 10 EOS換機潮帶動，Gartner並估計2025年AI PC占全球PC出貨31%、2026年占比可達55%，中期有利於順發的筆電、桌機、零組件、周邊與維修服務需求。二、公司自身策略包括優化多元購物平台、提升購物網便利性、與其他平台合作建立品牌線上旗艦店、優化實體門市購物空間與硬體設施、深耕會員關係、提供買貴退差價與分期付款等服務。三、產品面可受惠AI PC、電競商品、智慧家電、智慧型手機、LCD-TV、NB及PC等品類更新，但順發作為通路商，成長幅度取決於終端需求、品牌供貨、價格競爭與門市／電商轉換效率。四、2026年以後潛在風險包括：PC換機潮可能提前在2025至2026年反映而後續趨緩；電商平台、品牌直營與大型量販通路競爭加劇；3C零售毛利率偏低且需承擔庫存跌價、促銷折扣與租金人事成本；AI資料中心需求可能推升DRAM、NAND／SSD等零組件價格，壓縮低價PC需求與通路毛利；台灣消費景氣、匯率、利率與可支配所得變化會影響耐久財消費。五、2027至2028年展望較缺乏公司正式財測，可合理推估重點在AI PC滲透率提升、老舊設備汰換、全通路會員經營與高毛利周邊／服務占比提升，但此部分屬產業趨勢推估，非公司保證。

Supply Chain

Upstream

華碩電腦股份有限公司 2357 台股上市品牌原廠；筆電、桌機、主機板、顯示卡、螢幕、周邊等3C商品可能透過原廠、代理商或通路供應至順發銷售。
宏碁股份有限公司 2353 台股上市品牌原廠；筆電、桌機、螢幕等資訊產品供應來源之一，實際採購可能經由代理商或物流商。
微星科技股份有限公司 2377 台股上市品牌原廠；電競筆電、主機板、顯示卡與周邊產品屬順發銷售品類相關供應來源。
技嘉科技股份有限公司 2376 台股上市品牌原廠；主機板、顯示卡、電競筆電與電腦零組件屬順發銷售品類相關供應來源。
群光電子股份有限公司 2385 台股上市電腦周邊與電源相關供應鏈業者；鍵盤、電源與周邊產品可能經品牌或代理體系進入3C通路，非直接供應關係未確認。
Apple Inc. 美國上市品牌原廠；Mac、iPad、iPhone及周邊屬3C通路常見銷售品類，是否由順發直接或間接採購未逐項確認。
Samsung Electronics Co., Ltd. 韓國上市品牌原廠；手機、螢幕、SSD、記憶體、家電等屬3C通路相關品類，是否由順發直接或間接採購未逐項確認。
3C商品代理商與物流業者年報資料明確指出順發商品主要由3C商品製造商、代理商或物流業者供應；個別未上市或非台股掛牌代理商未逐一揭露。

Downstream

個人與家庭終端消費者主要下游客群；購買筆電、桌機、零組件、智慧手機、家電、遊戲與周邊商品，非台股掛牌公司。
中小企業與公司行號商用PC、周邊、耗材、維修與汰換需求客群；通常為分散型客戶，未揭露特定上市櫃大客戶。
學生、玩家與DIY組裝族群順發歷史上以電腦零組件、DIY裝機、電競與資訊商品通路著稱，屬終端應用族群而非單一企業。
教育與公益受助族群公司公益機制透過消費盈餘提撥協助弱勢學童，屬品牌與社會回饋的下游利害關係人，非營收大客戶。

Competitors

燦坤實業股份有限公司 2430 台股上市電子通路業，經營燦坤3C電子賣場，與順發在3C零售、家電、電腦與通訊商品銷售直接競爭。
全國電子股份有限公司 6281 台股上市電子通路業，家電、通訊、電腦與維修服務通路，與順發在實體門市與家電／3C商品零售競爭。
網路家庭國際資訊股份有限公司 8044 台股上櫃電商平台業者，PChome 24h購物等平台銷售3C與消費電子，與順發線上購物及第三方平台業務競爭。
富邦媒體科技股份有限公司 8454 台股上市momo購物網營運商，線上3C、家電與消費商品銷售規模大，是順發電商與全通路策略的重要競爭者。
建達國際股份有限公司 6118 台股上櫃電子通路業，偏資訊產品代理與通路批發，與順發在部分電腦與資訊產品通路鏈上有競合關係。
方土昶股份有限公司 6265 台股上櫃電子通路業，屬同產業比較公司；業務型態與順發零售不完全相同，但同受電子通路景氣與產品價格循環影響。
倍微科技股份有限公司 6270 台股上櫃電子通路業，為同產業比較公司，偏IC與電子零組件通路，與順發直接零售競爭程度較低。

Sources（24）

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.