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6922

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

strong quality, fair valuation.

1 active signal
Revenue ≥20%
This page refreshes daily after the close. Add 宸曜 to your watchlist to track signal changes on your next visit.
Valuation 38Quality 86Growth 91Momentum 60Chips 34

Is 宸曜 a buy? Fundamentals and valuation first

  • Top-tier profitability.Operating margin beats ~80% of the market. Latest quarterly ROE ≈ 6.9%.

  • Valuation is neutral.PE is in the 57th market percentile.

  • Foreign investors are net selling.Foreign 20-day net flow ≈ -0.6% of volume (net sell).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 87.8%, 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 +0.00
BearishNeutralBullish

Institutional rotation, concentration steady — neutral

  • Institutional rotation, concentration steady — neutral
  • 永豐金-桃園 holds 58 lots
  • sellers have 204 lots left, ~180 sessions to clear

Window from 2026-01-17 · Price +19% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 永豐金-桃園 has accumulated 58 lots since the start (sold 0%), still adding.
  • Main distributor 凱基 peaked at 135 lots, has sold 59%, 55 left, ~9 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders -0.05pp, mid holders -1, retail +1.62pp — drifting down to retail.
  • Foreign hedge-desk net short Net short -48 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-桃園永豐金-苓雅美商高盛美林兆豐證券富邦-花蓮
Distributing
凱基華南永昌港商野村摩根大通新加坡商瑞銀新光-新竹
Desks
own scale
台新元富新光第一金-華江
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 永豐金-桃園 +58
    sold 0%· still adding
  • 永豐金-苓雅 +47
    sold 0%· still adding
  • 美商高盛 +40
    sold 5%· still adding
  • 美林 +39
    sold 0%· still adding
  • 兆豐證券 +36
    sold 0%
  • 富邦-花蓮 +35
    sold 0%· still adding

Distributing

  • 凱基 55 left
    sold 59%· ~9 sessions to clear
  • 華南永昌 49 left
    sold 26%· paused recently
  • 港商野村 31 left
    sold 51%· paused recently
  • 摩根大通 18 left
    sold 68%· ~180 sessions to clear
  • 新加坡商瑞銀 12 left
    sold 73%· ~17 sessions to clear
  • 新光-新竹 14 left
    sold 64%· ~16 sessions to clear

Desks

  • 台新 -273
    unclassified
  • 元富 -123
    unclassified
  • 新光 -82
    unclassified
  • 第一金-華江 -56
    unclassified
Still selling 204 lots ~180 sessions to bottom at most
Recent buy/sell force +463 absorbed / -154 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

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 87.84%

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

18 historical occurrences (since 2024-02-15)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 47.1%, Sample 17, Median 0%, Excess +0.37%, Beat mkt rate 35.3%；60-day: Win 46.7%, Sample 15, Median -4.07%, Excess -1.5%, Beat mkt rate 26.7%；120-day: Win 57.1%, Sample 14, Median +1.68%, Excess -4.88%, Beat mkt rate 42.9%

120 days after: historical avg +7.93%

20-day +2.62%
60-day +3.88%
120-day +7.93%
20-day
60-day
120-day
Win
47.1%
46.7%
57.1%
Sample
17
15
14
Median
0%
-4.07%
+1.68%
Excess
+0.37%
-1.5%
-4.88%
Beat mkt rate
35.3%
26.7%
42.9%

Over 14 occurrences, 120-day forward avg gained 7.93%, lagged the market by 4.88 pts; win rate 57.1%.

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.

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 +4.27%, win rate 71.4%, beating the market by -2.45 pts on average.

What does 宸曜 do? Company profile

電腦及週邊設備業／工業電腦 上櫃

Overview

6922 對應證券為宸曜科技股份有限公司，為櫃買中心掛牌之上櫃普通股，非 ETF/ETN/權證。公司成立於 2010 年 7 月 14 日，主要從事工業控制產品、應用電腦及工業電腦之製造、加工及買賣；英文名稱 Neousys Technology Inc.。總部依公開市場資料為新北市中和區建八路198號11樓；公開說明書記載總公司曾為新北市中和區中正路868之3號15樓，地址可能隨營運總部搬遷而更新。董事長與總經理為高明和。股票於 2023 年 11 月 9 日上櫃；2026 年可查公開資料顯示實收資本額約新台幣 2.72 億元、已發行普通股約 27,155,385 股。公開說明書揭露 2023 年 6 月底員工約 186 人，其中研發 38 人；Goodinfo 顯示 2025 年全體員工平均薪資 116.5 萬元。2026 年 5 月內部人/主要持股資料顯示主要持有人包含蓮德芯投資 14.68%、倪浩然 12.68%、君揚投資 11.88%、高明和 8.52%、胡正濤 6.46%；部分比例來自非官方股市資訊彙整，需以公開資訊觀測站最新股東名冊為準。

Business

宸曜定位為少量多樣、高可靠度強固型工業電腦與邊緣 AI 運算平台廠商，以自有品牌 NEOUSYS 為主，並提供部分 OEM/ODM 客製化。2025 年產品營收結構為：AI 邊緣運算電腦 673,826 千元、佔 41.02%；強固型無風扇寬溫工業電腦 556,256 千元、佔 33.86%；垂直市場應用電腦 332,752 千元、佔 20.25%；I/O 卡、週邊產品及其他 80,068 千元、佔 4.87%。主要產品包含無風扇寬溫工業電腦、GPU/Jetson 邊緣 AI 電腦、車載/軌道 EN50155 電腦、機器視覺平台、GMSL2 影像擷取卡、防水防塵與軍規強固平台、SuperCAP UPS 與電源模組等。商業模式上，前段 PCBA 採委外計畫性生產，後段組裝、測試與出貨以訂單式生產為主；九成以上產品為自行開發標準品，約一成因客戶需求客製。下游客戶名稱多未公開，公司揭露主要銷貨客戶均未逾銷貨淨額 20%，主要合作對象為經銷商、系統整合商、解決方案提供商、軟硬體品牌商，終端應用涵蓋工業自動化、機器視覺、自動駕駛/輔助駕駛、智慧交通、智慧物流/AMR、無人移動載具、智慧監控、國防軍工、軌道交通與半導體/工廠設備等。2025 年合併營收 16.429 億元、年增 13.67%，毛利 6.900 億元、毛利率約 42%，營業利益 2.614 億元、營益率 15.91%，稅後淨利 1.869 億元，EPS 6.90 元。

Outlook 2025–2028

2025 年公司受惠邊緣 AI、智慧製造、智慧交通與國防軍工等垂直市場，營收創高且維持雙位數成長；2025 年產品組合已轉向 AI 邊緣運算電腦為最大營收來源。2026 年 6 月法說新聞指出，公司預期第二季營收優於 2025 年同期，並表示歐、美、亞三大核心市場的邊緣 AI 專案需求持續發酵；第一季 AI 邊緣運算電腦佔營收 42%，歐洲營收年增 40%、亞洲年增 74%，美洲維持兩位數成長。中期成長動能包括：高算力邊緣 AI 平台、可抗嚴苛環境的 IP67/IP69K/MIL-STD 強固產品、低功耗邊緣端平台、Intel Core Ultra/Atom、AMD、NVIDIA GPU/Jetson 新平台導入、GMSL2 車載影像、無人載具/AMR/智慧物流/無人防衛系統從概念驗證轉向部署。營運布局上，公司已擴大美國與中國子公司，德國子公司於 2025 年第四季投入營運，2026 年籌備韓國子公司以拓展東北亞；同時導入 SAP、啟用自購營運總部以提升全球營運效率。2027-2028 年展望屬推估：若邊緣 AI、工業自動化、智慧交通與國防專案持續落地，宸曜可望維持高毛利產品比重與外銷成長，但缺乏公司正式 2027-2028 財測，不能量化。主要風險包括：工業電腦同業競爭加劇、GPU 邊緣 AI 平台競爭升溫、記憶體/SSD/CPU/GPU 等關鍵零組件漲價或供應吃緊、台幣升值造成匯損、主要市場關稅與中美科技管制、客戶專案遞延、產品世代更迭與庫存跌價、出口比重高導致區域需求波動。

Supply Chain

Upstream
  • 聯強國際 2347 台股上市公司；公開說明書指出宸曜向聯強採購 Intel 及 Microsoft 品牌之晶片組、CPU、乙太網路控制器等零組件，屬電子零組件代理/通路供應商。
  • NVIDIA Singapore Pte Ltd. 非台股掛牌；NVIDIA 集團為美國上市公司，宸曜自 2019 年起向其採購 GPU，用於 AI 邊緣運算與工業電腦產品。
  • Intel 非台股掛牌，美國上市；宸曜產品大量採用 Intel CPU、晶片組與新世代 Core/Atom 平台，透過代理商與供應鏈採購。
  • AMD 非台股掛牌，美國上市；宸曜部分嵌入式與邊緣運算平台採用 AMD 處理器。
  • 貿特科技 未確認為台股掛牌；公開說明書記載為宸曜 PCBA 委外加工廠之一，負責自有產品組裝電路板打件，主要原物料由宸曜提供。
  • PCB/PCBA、記憶體、SSD、IC、機構件與通訊模組供應商 多數供應商名稱未完整揭露或以代稱揭露；宸曜主要營業成本約八成為 CPU、IC 元件、擴充卡、機構件、主機板等原物料，另採購 PCB、DRAM、SSD、電源管理晶片、通訊模組等。公開說明書指出主要供應商進貨佔比均未逾 20%。
Downstream
  • 經銷商與通路夥伴 多數未公開名稱；宸曜以全球經銷與通路銷售自有品牌工業電腦，銷售區域以歐洲、美洲、亞洲為主。
  • 系統整合商與解決方案提供商 多數未公開名稱；將宸曜強固型工業電腦、邊緣 AI 平台、車載與機器視覺設備整合至終端專案。
  • 軟硬體品牌商與垂直應用開發商 多數未公開名稱；應用於自動化設備、機器視覺、自駕/輔助駕駛、智慧交通、智慧物流、AMR、安防監控、國防軍工等。
  • 終端客戶：工業自動化、智慧交通、國防軍工、無人載具與智慧物流市場 終端客戶名稱未揭露；公開說明書與法說新聞均顯示公司主要銷貨客戶未逾 20%，並強調客戶及應用分散。

Competitors

  • 研華 2395 台股上市；工業電腦龍頭，公開說明書列為採樣同業，主要產品包含工業測控、工業用電腦、嵌入式板卡與系統。
  • 凌華 6166 台股上市；公開說明書列為採樣同業，產品涵蓋通訊暨電腦產品、量測與自動化、嵌入式平台及模組。
  • 鑫創電子 6680 台股上櫃；公開說明書列為採樣同業，主要聚焦智能車載電腦系統、無風扇 GPU 車載電腦與嵌入式電腦。
  • 艾訊 3088 台股上櫃；工業電腦、嵌入式系統與工業物聯網相關業者，屬廣義 IPC 競爭者。
  • 威強電 3022 台股上市；工業電腦、嵌入式系統與網通/醫療相關硬體業者，屬廣義 IPC 競爭者。
  • 廣積 8050 台股上櫃；工業電腦與嵌入式板卡業者，屬廣義 IPC 競爭者。
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.