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6277

宏正 Computer & Peripherals As of 2026-06-17 Updated daily after market close

steady quality, fair valuation.

1 active signal
Foreign buy
This page refreshes daily after the close. Add 宏正 to your watchlist to track signal changes on your next visit.
Valuation 60Quality 69Growth 50Momentum 69Chips 91

Is 宏正 a buy? Fundamentals and valuation first

  • Above-average profitability.Operating margin is in the 74th market percentile. Latest quarterly ROE ≈ 2.7%.

  • Valuation is neutral.PE is in the 50th market percentile; within its own history, PE is around the 97th percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 10.5% of volume (net buy).

  • Signals are active now.On the latest data, signals such as Foreign net buying 5 straight days are active — see the historical forward returns after each occurrence below.

Chip flow

Bullish +0.32
BearishNeutralBullish

Institutional rotation, concentration steady — bullish

  • Institutional rotation, concentration steady — bullish
  • 國票-長城 holds 388 lots
  • sellers have 208 lots left, ~47 sessions to clear

Window from 2026-01-17 · Price +20% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 國票-長城 has accumulated 388 lots since the start (sold 22%), now trimming.
  • Main distributor 美商高盛 peaked at 255 lots, has sold 60%, 103 left, ~21 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders -0.15pp, mid holders -1, retail -0.36pp — little change.
  • Foreign hedge-desk net short Net short -73 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
國票-長城台灣摩根士丹利花旗環球永豐金-匯立凱基-市府港商麥格理
Distributing
美商高盛凱基-台北宏遠-光隆國泰-台南永豐金-板新凱基-板橋
Desks
own scale
永豐金證券元富永豐金-中正富邦證券
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 國票-長城 +388
    sold 22%
  • 台灣摩根士丹利 +346
    sold 0%· still adding
  • 花旗環球 +339
    sold 0%· still adding
  • 永豐金-匯立 +327
    sold 0%· still adding
  • 凱基-市府 +287
    sold 0%
  • 港商麥格理 +275
    sold 0%· still adding

Distributing

  • 美商高盛 103 left
    sold 60%· ~21 sessions to clear
  • 凱基-台北 79 left
    sold 48%· paused recently
  • 宏遠-光隆 48 left
    sold 30%· paused recently
  • 國泰-台南 15 left
    sold 73%· paused recently
  • 永豐金-板新 7 left
    sold 85%· paused recently
  • 凱基-板橋 15 left
    sold 67%· paused recently

Desks

  • 永豐金證券 -502
    unclassified
  • 元富 -76
    unclassified
  • 永豐金-中正 -74
    unclassified
  • 富邦證券 -69
    unclassified
Still selling 208 lots ~47 sessions to bottom at most
Recent buy/sell force +1,105 absorbed / -151 sold buyers slightly ahead
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.

Foreign net buying for 5 straight days

Active · now 8%

Foreign net flow (ex-dealer) positive for 5 straight days; event on day 5; repeats within 20 days counted once.

62 historical occurrences (since 2012-05-22)
Average forward return after Foreign net buying for 5 straight days。20-day: Win 59%, Sample 61, Median +0.98%, Excess -0.82%, Beat mkt rate 39.3%；60-day: Win 64.4%, Sample 59, Median +1.98%, Excess -2.27%, Beat mkt rate 39%；120-day: Win 54.2%, Sample 59, Median +0.45%, Excess -2.45%, Beat mkt rate 39%

120 days after: historical avg +5.26%

20-day +1.13%
60-day +3.26%
120-day +5.26%
20-day
60-day
120-day
Win
59%
64.4%
54.2%
Sample
61
59
59
Median
+0.98%
+1.98%
+0.45%
Excess
-0.82%
-2.27%
-2.45%
Beat mkt rate
39.3%
39%
39%

Over 59 occurrences, 120-day forward avg gained 5.26%, lagged the market by 2.45 pts; win rate 54.2%.

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)
0-20 607+6.9% +4.9% 78.3% -11.8%
20-40 269+19.7% +12.7% 96.3% -2.8%
40-60 503+21.1% +10.7% 79.9% +7.2%
60-80 660+10.4% +5.2% 79.2% -6.9%
80-100 You are here967+1.5% +1.4% 58.3% -12.6%

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 ≈ 22.4, at the 97.0th 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
+3.3%
Win rate 66.7% Excess -5%
405d
+13%
Win rate 67.3% Excess +5.5%
490d
Now
+4.7%
Win rate 52.6% Excess -3.7%
988d
60-day momentum down
+9.8%
Win rate 94.3% Excess -2%
351d
+8.4%
Win rate 91.5% Excess +0.6%
364d
-2.5%
Win rate 44.9% Excess -9.5%
528d

Currently in “Expensive (own-history top 1/3) × 60-day momentum up”: across 988 historical days, 120-day forward avg gained 4.7%, win rate 52.6%, lagged the market by 3.7%.

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.

30 times historically; 60-day forward avg +5.65%, win rate 50%, beating the market by +1.4 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).

22 times historically; 60-day forward avg +1.64%, win rate 61.1%, beating the market by -1.65 pts on average.

What does 宏正 do? Company profile

電腦及週邊設備業；IT 架構管理、專業影音與智慧能源管理設備 上市（台灣證券交易所）

Overview

6277 對應證券為宏正，係台灣證券交易所上市普通股。公司成立於 1979-07-06，總部位於新北市汐止區大同路二段125號3樓，上市日期為 2003-10-30。董事長兼總經理為陳尚仲。公開資料顯示股本約新台幣 1,194,711,660 元，流通在外普通股 119,471,166 股。2025 年報揭露 2025 年合併營收約 49.19 億元，年減 1.46%，合併毛利率 59%，稅後淨利約 3.76 億元，EPS 3.08 元；2025 年研發費用約 5.28 億元，占營收 10.7%。集團員工人數截至 2026-03-27 為 1,537 人，2025 年度平均人數 1,552 人。主要股東名單依 2026-03-27 年報包括陳錦堂、陳尚仁、群益證券香港客戶託管投資專戶、廖綛、陳尚仲、元喬投資有限公司、廖惠娟、廖玉莉、潘麗月、林美杏等。公司採自有品牌 ATEN 全球銷售，並透過美國、歐洲、日本、韓國、印度、澳洲、波蘭、羅馬尼亞、墨西哥、印尼、南非等子公司與通路布局。

Business

宏正主要從事 IT 架構管理解決方案、專業影音管理解決方案、智慧能源管理解決方案、資源分享設備與各式介面轉換器、延長器、分配器、切換器之研發、製造與銷售。2025 年產品營收結構：IT 架構管理解決方案 30.80 億元、占 62.62%；視訊產品 7.74 億元、占 15.74%；其他 10.64 億元、占 21.64%。IT 架構管理產品以 KVM 多電腦切換器、LCD KVM、矩陣 KVM、Over-IP KVM、遠端集中管理、電源管理器、序列訊號管理器、機房機櫃與資料中心管理方案為核心，應用於企業機房、AI/高密度資料中心、半導體與工控場域、控制中心。專業影音產品包括影音切換器、分配器、延長器、矩陣切換器、轉換器、AV over IP、視訊牆控制、會議室與控制室方案。其他產品包括 USB Hub、USB/Thunderbolt/Type-C 相關分享切換器、直播設備、ATEN essentials 消費性電子產品、智慧 PDU、機櫃與精密機殼加工服務。商業模式以自有品牌、全球子公司、代理商、系統整合商、專案標案與電商/消費通路並行；近年從單品銷售提高到解決方案與場域整合銷售。年報指出近兩年無單一供應商或單一銷貨客戶超過合併進貨或銷貨金額 10%，客戶與供應商分散。

Outlook 2025–2028

2025-2028 展望：一、AI 伺服器與高密度資料中心帶動機房遠端管理、KVM over IP、智慧 PDU、ORV3 標準機櫃與精密機殼需求，宏正 2026 年報告書亦明確表示將推廣符合 ORV3 標準之機櫃系統與三相智慧 PDU，以提升 AI 運算機房維運效率。二、資安需求提升，公司推出全球首款 5K Universal Secure KVM 系列並通過 PSD PP v4.0 資安認證，對政府、軍事、金融、研發與高機敏環境具題材。三、AV over IP、H.265 視訊延長收發器、Networked AV、智慧會議室、會議室預約系統、控制室智慧化等趨勢，有助專業影音產品從傳統切換器升級為系統方案。四、AI PC、混合辦公、SOHO、直播與內容創作推動 USB 分享切換器、消費性電子、ATEN essentials 與 AI Voice/ATEN 優聲學應用。五、公司持續投入研發，2025 年研發費用占營收 10.7%，核心技術涵蓋晶片設計、硬體、監控軟體/韌體與影像網路通訊，並布局全球專利。六、區域展望上，公開新聞指出亞洲市場較突出，印度、日本、韓國成長動能較佳；歐洲需求緩步回穩；中國市場受政府投資力道、價格競爭與內捲影響較大。七、產能方面，外部法說摘要與媒體報導提及楊梅新廠預計 2027 下半年投產、目標提升產能，但此項非年報中逐字核實，列為中等信心。主要風險包括全球經濟復甦不均、匯率與通膨、地緣政治與關稅政策、AI 投資排擠傳統 IT 預算、專業影音標準化造成差異化下降、跨界競爭者進入、仿冒與侵權、供應鏈韌性、人才取得與留任，以及機櫃/AI 機房訂單能見度較短。

Supply Chain

Upstream
  • 光菱電子股份有限公司 8032 2025 年報列示為積體電路供應商，供應狀況正常；台股上櫃公司。
  • 安馳科技股份有限公司 3528 2025 年報列示為積體電路供應商，供應狀況正常；台股上市公司。
  • 進金生國際股份有限公司 2025 年報列示為液晶面板供應商，供應狀況正常；未確認為台股上市櫃公司。
  • 晶片、轉換器、連接器、PC 板、金屬/塑膠外殼、線材、電子零件、包裝材料供應商 年報揭露宏正產業上游涵蓋上述材料與電子零件供應商；除年報列名供應商外，個別公司名稱未充分揭露。
Downstream
  • 全球代理商與系統整合商 宏正以 ATEN 品牌透過海外子公司、代理商、SI 系統整合商與專案通路銷售 IT 架構管理、專業影音、智慧能源與 USB/消費性產品。
  • 資料中心、AI 伺服器機房、企業 IT 與半導體/工控客戶 KVM over IP、機櫃、智慧 PDU、遠端集中管理與控制中心方案之主要應用客群；年報未揭露單一客戶名稱。
  • 政府、軍事、金融、醫療、教育、媒體、運輸、航太、通訊、電腦、網際網路與消費性電子市場 年報列示為下游應用產業，涵蓋高機敏資安 KVM、專業影音、控制室、會議室與家庭/SOHO 等場景。
  • ATEN 海外子公司與區域銷售據點 包括美國、歐洲、日本、韓國、印度、澳洲、波蘭、羅馬尼亞、墨西哥、印尼、南非等區域據點，屬集團銷售與服務網絡；多為海外未上市子公司。

Competitors

  • Vertiv / Avocent KVM、資料中心基礎設施與遠端管理領域競爭者；Vertiv 為美國上市公司，非台股。
  • Legrand / Raritan KVM、PDU 與資料中心管理競爭者；Legrand 為歐洲上市集團，Raritan 為其旗下品牌，非台股。
  • Belkin Secure KVM、周邊連接與消費性電子競爭者；未確認為台股上市櫃。
  • Black Box KVM、AV、網路與基礎設施解決方案競爭者；非台股上市櫃。
  • Extron 專業影音、矩陣切換、控制系統與 AV over IP 競爭者；未上市，非台股。
  • Crestron 專業影音、控制系統、會議室與智慧建築方案競爭者；未上市，非台股。
  • Kramer 專業影音、矩陣切換、AV over IP 與會議室方案競爭者；非台股。
  • Barco 專業影音、控制室、會議協作與視覺化方案競爭者；比利時上市公司，非台股。
  • 圓剛科技股份有限公司 2417 台股上市公司，視訊擷取、直播與影音周邊產品與宏正部分直播/影音產品線相鄰競爭。
  • 圓展科技股份有限公司 3669 台股上市公司，視訊會議、教育與專業影音設備與宏正會議室/影音應用部分重疊。
Sources（11）

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.