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6226

光鼎 Optoelectronics As of 2026-06-17 Updated daily after market close

quality needs a look, premium valuation, no active signal today.

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

Is 光鼎 a buy? Fundamentals and valuation first

Weak profitability.Operating margin is in the 18th market percentile. Latest quarterly ROE ≈ 0.1%.
Valuation is high.PE is in the 100th market percentile; within its own history, PE is around the 96th percentile.
Foreign investors are net buying.Foreign 20-day net flow ≈ 8.6% of volume (net buy).

Chip flow

Neutral +0.02

BearishNeutralBullish

Institutional rotation, concentration steady — neutral

Institutional rotation, concentration steady — neutral
新加坡商瑞銀 holds 1,119 lots
sellers have 1,724 lots left, ~341 sessions to clear

Window from 2026-01-17 · Price +23% · branches to 2026-06-17· TDCC to 2026-06-12

Largest holder 新加坡商瑞銀 has accumulated 1,119 lots since the start (sold 3%), still adding.
Main distributor 國泰-敦南 peaked at 1,548 lots, has sold 60%, 613 left, ~341 sessions to clear at the recent pace.
TDCC big holders (absolute) >1000-lot holders -1.07pp, mid holders +5, retail -1.64pp — little change.
Foreign hedge-desk net short Net short -61 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

新加坡商瑞銀摩根大通台灣摩根士丹利元大-大益美商高盛安泰

Distributing

國泰-敦南凱基-台北元大-蘆洲中正永豐金-南京元大-大里華南永昌-林口

Desks

own scale

元大-土城永寧華南永昌-岡山台新證券兆豐-台中

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

Branch details Unit: lots

Accumulating

新加坡商瑞銀 +1,119

sold 3%· still adding
摩根大通 +893

sold 5%· still adding
台灣摩根士丹利 +805

sold 0%· still adding
元大-大益 +703

sold 5%
美商高盛 +674

sold 0%· still adding
安泰 +467

sold 19%

Distributing

國泰-敦南 613 left

sold 60%· ~341 sessions to clear
凱基-台北 508 left

sold 60%· ~7 sessions to clear
元大-蘆洲中正 133 left

sold 79%· ~3 sessions to clear
永豐金-南京 102 left

sold 73%· paused recently
元大-大里 95 left

sold 69%· paused recently
華南永昌-林口 190 left

sold 27%· paused recently

Desks

元大-土城永寧 -825

unclassified
華南永昌-岡山 -670

unclassified
台新證券 -515

unclassified
兆豐-台中 -476

unclassified

Still selling 1,724 lots ~341 sessions to bottom at most

Recent buy/sell force +1,925 absorbed / -1,608 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

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 +31%

20-40 Insufficient data

40-60 Insufficient data

60-80 -14.6%

80-100 +1.7% Now

PE percentile band	Sample days	240-day avg return	Median	Win rate	Avg excess (vs index)
0-20	419	+31%	+17.2%	64.7%	+10.4%
20-40	6	Insufficient data
40-60	0	Insufficient data
60-80	163	-14.6%	-14.6%	3.1%	-23.9%
80-100 You are here	379	+1.7%	-2.1%	46.2%	-11.7%

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 ≈ 1145.0, at the 95.6th 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

+20.4%

Win rate 75.2% Excess +4.6%

319d

Insufficient data
(7d)

-10.2%

Win rate 12.8% Excess -6.8%

242d

60-day momentum down

+23.8%

Win rate 64.2% Excess +5.3%

106d

Insufficient data
(19d)

Now

-2.6%

Win rate 26.4% Excess -7.6%

394d

Currently in “Expensive (own-history top 1/3) × 60-day momentum down”: across 394 historical days, 120-day forward avg declined 2.6%, win rate 26.4%, lagged the market by 7.6%.

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.

18 times historically; 60-day forward avg +1.7%, win rate 47.1%, beating the market by -6.56 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).

49 times historically; 60-day forward avg +3.98%, win rate 53.3%, beating the market by +0.9 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.

60 times historically; 60-day forward avg +1.38%, win rate 43.1%, beating the market by -2.41 pts on average.

What does 光鼎 do? Company profile

光電業；LED封裝、LED元件與模組、車用照明、功率半導體新事業上市

Overview

6226 對應證券為光鼎電子股份有限公司普通股，簡稱光鼎，英文名 Para Light Electronics Co., Ltd.，為台灣證券交易所上市公司。公司成立於 1987 年 9 月 23 日，2003 年 1 月 14 日上櫃，2008 年 11 月 10 日轉上市；總部位於新北市中和區建康路 8 號 11 樓。董事長兼總經理為馬景鵬；發言人為馬明珺。依 Goodinfo 與公司資料，實收資本額約新台幣 11.55 億元，已發行普通股約 115,534,789 股；公司官網列示資本額約 USD 3,700 萬。員工規模方面，公司 2024 年年報列 2024 年度 604 人、2023 年度 619 人、截至 2025 年 3 月 31 日 627 人；官網公司概況列約 592 人，兩者因統計時點或範圍不同。主要生產與營運據點包括台灣、中國南京、中國連雲港、緬甸仰光，銷售據點分布於台灣、中國、美國及印度。主要股東方面，公司官網股權結構頁揭露 2023 年 4 月 10 日股權分散表，持股 1,000,001 股以上者共 8 人、合計持股 19,807,226 股、占 16.98%；公開頁面未列具名十大股東。2024 年年報董事資料顯示董事長馬景鵬持有約 6,655,503 股、約 5.71%，另有親屬與董事持股；因 PDF 文字擷取部分亂碼，具名股東細節信心有限。

Business

光鼎為 LED 下游專業封裝製造商，主要業務為製造、加工及銷售各種發光二極體、發光二極體顯示器及模組，並兼有少量房地產開發經營業務。2024 年度營收結構：LED 元器件及模組產品新台幣 632,672 千元、占 96.54%；房產銷售 22,702 千元、占 3.46%；合計 655,374 千元。主要產品包括可見光與不可見光 LED、Lamp、SMD、PLCC、Display、Dot Matrix、Light Bar、Back Light、高功率 LED、照明燈具、車用照明、感測元件、光模組，以及新布局的 IGBT 功率半導體與規劃中的 SiC MOSFET。終端應用涵蓋家電、電腦主機與鍵盤、監視器、印表機、光碟機、通訊設備、汽車儀表板、煞車燈、方向燈、尾燈、交通號誌、戶外與商業照明、智慧照明、保全監視、遙控器、自動門、自動控制檢測、路由器、醫療制氧機顯示、電動車充電樁顯示、電競主機殼與車用氛圍燈等。商業模式以 LED 封裝製造、模組設計製造、OEM/ODM 客製、全球經銷與代理通路銷售為主；2024 年主要銷售地區為亞洲 77.79%、台灣 10.68%、美洲 10.42%、歐洲 0.67%、其他 0.44%。公司年報揭露最近二年度未有任一銷售客戶或供應商占比超過 10%，顯示客戶與供應商集中度不高或未達揭露門檻。

Outlook 2025–2028

2025 至 2028 年展望以「LED 本業修復、高附加價值應用、功率半導體轉型」為核心。成長動能包括：一、公司已在 2024 年年報中表示扣除中國房地產部分後 LED 本業營收成長 4.8%，且策略上提升高毛利、高附加價值產品比重。二、車用 LED、Mini LED 尾燈、貫穿式尾燈、智慧氛圍燈、UV/IR LED、農業照明、智慧照明與光模組仍屬利基成長應用；年報引述 TrendForce 估 2025 年車用 LED 市場產值有望達 35.09 億美元，且 2026 年車款持續導入先進技術。三、公司短期計畫擴大 SMD 產能、拓展東協/中東/歐洲/北美展會客戶、以緬甸廠作為重要生產基地、拓展東南亞，並強化經銷代理合作。四、功率半導體方面，公司自 2022 年布局，2024 年第 1 季推出第七代微溝槽 MPT 離散式 IGBT，2024 年下半年推出 IGBT 功率模組，官網稱 2026 年第 1 季推出離散式低溫度係數 RDS(on) 的 SiC MOSFET；目標應用含太陽能/風能逆變器、電網併網、工業儲能與充放電設備、UPS、伺服馬達驅動、資料中心伺服器、電動車直流快充等。五、2025 年官網月營收合計 609,246 千元，較 2024 年官網月營收合計 655,156 千元下滑；2026 年 1 至 4 月官網累計 215,724 千元，顯示截至可查時點本業仍處低檔修復而非明確高成長。主要風險與挑戰包括：傳統 LED 面臨中國業者補助擴產與價格競爭、通用照明需求疲弱、車用 LED 供應商面臨降價壓力、全球關稅與通膨壓縮終端消費與企業利潤、公司近年仍為虧損、功率半導體 IGBT/SiC 需通過客戶認證且面對國際與中國成熟對手，轉型貢獻時間與毛利改善幅度尚未能量化。2027 至 2028 的具體財務預測公司未公開，相關展望屬依公司策略與產業趨勢推估。

Supply Chain

Upstream

富采投資控股 3714 LED 產業上游/中游代表公司，旗下晶電等供應 LED 磊晶、晶粒相關能力；光鼎年報說明其主要原料晶粒採購維持二家以上供應商，但未具名揭露直接供應商，因此此列為產業關聯而非確認直接供應商。
台亞半導體 2340 台股掛牌光電半導體與 LED 磊晶/晶粒相關業者，可視為 LED 封裝廠之產業上游參考；非光鼎年報具名直接供應商。
三安光電中國上市 LED 磊晶與晶片大型供應商，屬全球 LED 封裝上游競合來源；非台股掛牌，且非光鼎年報具名直接供應商。
AIXTRON 德國上市 MOCVD 等化合物半導體設備供應商，屬 LED/功率半導體上游設備端；非台股掛牌，亦非光鼎具名供應商。

Downstream

華立企業 3010 光鼎官網經銷商名單與華立產品頁列示 Para Light/光鼎電子，華立為台股上市材料與通路商，屬通路/經銷關係。
益登科技 3048 光鼎官網經銷商聯絡資訊列示益登科技，為台股上市電子零組件通路商，屬通路/經銷關係。
聯想集團光鼎官網里程碑列 2015 年與戴爾、惠而普、聯想合作；聯想為香港上市公司，非台股掛牌。
Dell Technologies 光鼎官網里程碑列 2015 年與戴爾、惠而普、聯想合作；Dell 為美國上市公司，非台股掛牌。
Whirlpool 光鼎官網里程碑列 2015 年與戴爾、惠而普、聯想合作；Whirlpool 為美國上市公司，非台股掛牌。
東陽實業 1319 光鼎 2024 年年報計畫研發項目提及『東陽鴻華車內氛圍燈』，可視為車用照明/氛圍燈應用端線索；是否為正式量產客戶未能由公開資料確認。
鴻華先進 2258 光鼎 2024 年年報計畫研發項目提及『東陽鴻華車內氛圍燈』，與電動車/車用應用端相關；是否為正式量產客戶未能由公開資料確認。

Competitors

佰鴻工業 3031 光鼎 2024 年年報列為主要競爭對手；業務含發光二極體、紅外線元件模組、LED 照明及顯示模組。
立碁電子 8111 光鼎 2024 年年報列為主要競爭對手；業務含發光二極體指示燈、顯示器製造與買賣、電子零件製造與買賣。
宏齊科技 6168 光鼎 2024 年年報列為主要競爭對手；主要生產與銷售表面黏著發光二極體。
光寶科技 2301 年報 LED 趨勢段落提及光寶為 ≥100mW UV-C LED 單晶封裝主要廠商之一；與光鼎在特定 LED 封裝/光電元件應用具競合關係，但非公司列示之同規模主要競爭對手。
Nichia 日本未上市公司，為全球 LED 與 UV LED 重要業者；非台股掛牌。
ams OSRAM 歐洲上市光電半導體公司，為 UV-C LED、車用與照明 LED 重要競爭者；非台股掛牌。
Seoul Viosys 韓國上市 UV LED/光半導體業者；非台股掛牌。

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.