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8908

欣雄 Oil, Gas & Electricity 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 欣雄 to your watchlist to track signal changes on your next visit.
Valuation 52Quality 62Growth 38Momentum 46Chips 86

Is 欣雄 a buy? Fundamentals and valuation first

  • Above-average profitability.Operating margin is in the 54th market percentile. Latest quarterly ROE ≈ 3.3%.

  • Valuation is neutral.PE is in the 45th market percentile; within its own history, PE is around the 37th percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 8.1% of volume (net buy).

Chip flow

Bullish +0.59
BearishNeutralBullish

Single-sided accumulation, concentration rising — bullish

  • Single-sided accumulation, concentration rising — bullish
  • 凱基-高美館 holds 3,898 lots
  • sellers have 90 lots left, ~80 sessions to clear

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

  • Largest holder 凱基-高美館 has accumulated 3,898 lots since the start (sold 0%), still adding.
  • Main distributor 新光-高雄 peaked at 145 lots, has sold 67%, 48 left, paused recently.
  • TDCC big holders (absolute) >1000-lot holders +0.74pp, mid holders -2, retail -0.91pp — concentration shifting upward.
  • Foreign hedge-desk net short Net short -292 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
凱基-高美館新光-台中元大-信義元富-城中國泰-台中康和-台南
Distributing
新光-高雄國泰-敦南摩根大通富邦-北港華南永昌元大-樹林
Desks
own scale
兆豐-桃園凱基-三重永豐金-鳳山元大-豐原
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 凱基-高美館 +3,898
    sold 0%· still adding
  • 新光-台中 +169
    sold 17%
  • 元大-信義 +86
    sold 9%
  • 元富-城中 +80
    sold 0%
  • 國泰-台中 +63
    sold 0%· still adding
  • 康和-台南 +60
    sold 0%

Distributing

  • 新光-高雄 48 left
    sold 67%· paused recently
  • 國泰-敦南 39 left
    sold 65%· ~21 sessions to clear
  • 摩根大通 22 left
    sold 65%· paused recently
  • 富邦-北港 6 left
    sold 87%· paused recently
  • 華南永昌 13 left
    sold 70%· paused recently
  • 元大-樹林 19 left
    sold 55%· paused recently

Desks

  • 兆豐-桃園 -506
    unclassified
  • 凱基-三重 -421
    unclassified
  • 永豐金-鳳山 -258
    unclassified
  • 元大-豐原 -227
    unclassified
Still selling 90 lots ~80 sessions to bottom at most
Recent buy/sell force +806 absorbed / -68 sold buyers slightly ahead
Hedge-desk net short -131 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)

Direction matches: big-holder share rose while retail share fell.

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.

PE percentile bandSample days240-day avg returnMedianWin rateAvg excess (vs index)
0-20 114+20.6% +22.9% 100% +10%
20-40 You are here373+18.2% +28% 60.9% +2.6%
40-60 377+17.7% +8.8% 92.3% +4.9%
60-80 923+14.3% +8.2% 69.2% -4.1%
80-100 1256+11.6% +4.4% 55.9% -5.3%

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 ≈ 19.98, at the 36.9th percentile of its own history (20-40 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
+5.2%
Win rate 77.1% Excess -2.2%
271d
Now
+13.6%
Win rate 86.6% Excess +5.4%
581d
+10.1%
Win rate 70.2% Excess +4.3%
1012d
60-day momentum down
+11.4%
Win rate 85.9% Excess -7%
64d
+7.4%
Win rate 89.2% Excess -8.8%
241d
-0.3%
Win rate 35.1% Excess -10.1%
758d

Currently in “Mid × 60-day momentum up”: across 581 historical days, 120-day forward avg gained 13.6%, win rate 86.6%, beat the market by 5.4%.

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.

37 times historically; 60-day forward avg +5.72%, win rate 64.9%, beating the market by +4.19 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).

103 times historically; 60-day forward avg +7.04%, win rate 77.3%, beating the market by +5.65 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.

13 times historically; 60-day forward avg -1.17%, win rate 41.7%, beating the market by -4.33 pts on average.

What does 欣雄 do? Company profile

油電燃氣業／公用天然氣事業 上櫃

Overview

8908 對應證券為欣雄，為櫃買中心上櫃普通股，非 ETF、ETN、權證或特別股。公司全名為欣雄天然氣股份有限公司，統一編號 07861475，成立於 1986/04/16，公開發行日為 1990/04/04，上櫃日為 1997/02/14，總部位於高雄市鳳山區國泰路一段 99 號。公司目前仍為上櫃公司，2025/08/07 董事會曾決議擬於適當時機向臺灣證券交易所申請股票轉上市，但截至 2026/06/17 可查資料仍列為上櫃。董事長為朱文煌；2026/05/27 董事會推選朱文煌續任董事長、王定中任副董事長，王定中亦為總經理及發言人。實收資本額依 2026 年可查公司資料為新台幣 3,153,327,420 元，普通股約 315,332,742 股。113 年年報列示 114/04/18 主要股東包括興泰投資 33.94%、國軍退除役官兵輔導委員會 23.56%、惠普投資 16.02%、朱文煌 5.21%、朱秀美 2.01%、李怡寧 1.37%、基達利投資 0.89%、朱文輝 0.45%、欣泰石油氣 0.42%、黃允賢 0.39%。員工規模方面，113 年底員工 139 人，至 114/04/30 為 141 人；平均年齡約 42 歲、平均服務年資約 8.49 年。114 年度合併財報經董事會通過，2025 年營業收入 103.89826 億元、營業利益 8.50555 億元、歸屬母公司業主淨利 6.79150 億元、EPS 2.16 元；2026 年第 1 季 EPS 約 0.46 元。股利政策依章程採剩餘股利政策，保留瓦斯管線埋設、維護、抽換及更新等資本支出後分配盈餘，現金股利不低於 10%；113 年度盈餘分派為每股現金股利 1.3 元、股票股利約 0.3 元，市場資料顯示 2026 年除權息發放現金股利 1.5 元及股票股利 0.3 元。

Business

欣雄為區域型公用天然氣公司，主要業務是在主管機關核准營業區內以導管供應天然氣及石油氣，並提供供氣管線設計、裝置工程、設備維護、瓦斯計量器製造租售、燃料導管安裝、燃氣熱水器承裝、再生能源自用發電設備及能源技術服務。113 年年報列示營業比重為天然氣收入 91%、裝置及其他收入 9%；113 年實際營收組成為售氣收入 74.0804 億元、裝置收入 6.1863 億元、售電收入 0.8845 億元、其他營業收入 0.0421 億元，合計 81.1933 億元。公司主要銷售區域為高雄市鳳山、大寮、鳥松、仁武、岡山、橋頭、大樹、燕巢、大社、林園、阿蓮、永安、旗山、田寮、美濃、內門等 16 個行政區，並供應永安、仁大、大發、林園、高雄臨海等經濟部產業園區，和發、本洲等高雄市政府產業園區，以及南科高雄園區。113 年底營業區住戶數約 435,269 戶，供氣使用戶數 99,645 戶，區域住戶滲透率 22.89%；其中工商戶 3,008 戶、一般戶 96,637 戶。商業模式為向台灣中油購買天然氣，經公司管網輸送至家庭、商業、服務業、工業用戶並按牌價或合約價格收取氣費；裝置工程則在導管承裝完成並驗收合格後認列裝置收入，部分表外管裝置收入依公用天然氣事業會計處理準則攤提。公司亦投資太陽光電系統，售電予台灣電力公司或其他再生能源售電業者，售電收入依實際售電度數與費率認列。113 年售氣量為 6.18380507 億度，較 112 年減少 3.71%，年報說明主要因石化業及鋼鐵業受海外同業產能過剩與低價傾銷影響，客戶訂單減少使售氣量下降；但 114 年財報營收大幅增至 103.89826 億元，市場公告顯示獲利同步提升。主要客戶為營業區內工業用戶；年報揭露 113 年主要銷貨客戶為工業用戶 C.H，金額 5.87298 億元，占銷貨淨額 7.23%，截至 114/03/31 主要客戶為 TSRC，金額 2.02643 億元，占銷貨淨額 7.82%。

Outlook 2025–2028

2025 至 2028 年展望可分為穩定核心與轉型成長兩部分。核心天然氣業務方面，欣雄位於法定營業區，區域公用天然氣事業具管網與特許經營門檻，營收基礎相對穩定；公司 113 年底供氣使用戶數 99,645 戶，仍僅占營業區住戶約 22.89%，未來補密舊大樓、新建案、社宅、重劃區與產業園區用氣可望提升普及率與管線利用率。年報列示的潛在開發區包括橋頭科學園區、仁武產業園區、白埔產業園區、北高雄產業園區、高雄新市鎮、岡山 87 期重劃區、鳳山 93 期重劃區、大樹 205 營區、九曲堂營區、光復營區、三井 LaLaport 與社宅興建計畫等，這些建設若如期導入管線，可支撐 2025 至 2028 年一般戶與工商戶新增。114 年公司投資計畫包括埋設輸氣管線 6,611 公尺、北高雄供氣服務中心興建、新設管線、計量表更新、資訊系統維護、整壓站監視系統與老舊管線檢測汰換，顯示未來資本支出重點仍在管網安全、北高雄服務能力與營運效率。產業趨勢方面，櫃買中心油電燃氣產業資料指出 2024 年國內天然氣總銷量 280.4 億立方公尺，其中公用天然氣事業占 14.3%，台灣中油為全台唯一進口天然氣能源公司，並持續擴大 LNG 卸收與輸儲能力；若台灣能源轉型與減煤政策延續，天然氣相對煤、油具低碳排優勢，有利工業鍋爐、學校、旅館、醫院與商業設施改用天然氣。轉型成長方面，欣雄明確表示天然氣事業已達高原期，將在穩定獲利基礎上發展同為能源產業的太陽光電；113 年光電實際發電量 1,959.6345 萬度，年增 30.31%，114 年計畫開發裝置容量 109,785.42kW，且售電合約通常具有長期躉購費率與穩定現金流特色。潛在風險包括：一，天然氣售價受政策與中油牌價影響，非完全自由定價；二，氣源高度集中於台灣中油，採購金額占進貨淨額約 96% 至 98%，存在供應與牌價集中風險；三，工業用戶需求受石化、鋼鐵與景氣循環影響，113 年售氣量已因客戶訂單減少而衰退；四，南部日照長，太陽能、熱泵、電熱水器、電磁爐與 LPG 等替代能源對家庭與部分商業用戶構成競爭；五，建築景氣與房市政策影響新建戶裝置需求，鋪設管線阻力與埋管成本上升也可能壓抑投資報酬；六，光電擴張可能受台電外線工程、漁電共生申請、併網時程與法規變動影響，113 年公司光電完工建置容量達成率僅 31.70%，即反映工程與申請延宕風險。整體而言，2025 至 2028 年欣雄較可能呈現核心天然氣穩定、光電與新區域管網提供增量、但工業景氣與政策價格牽動短期營收波動的型態；此段展望含對 2026 至 2028 年之推估，非公司正式財測。

Supply Chain

Upstream
  • 台灣中油股份有限公司 天然氣唯一主要供應商；113 年進貨金額 64.56222 億元，占全年進貨淨額 96.48%，截至 114/03/31 占 97.60%。台灣中油為國營公司，非台股上市櫃公司。
  • 國外 LNG 氣源供應商 年報說明台灣天然氣供應來源包含中油自印尼、馬來西亞等地進口液化天然氣，以及中油自行開採天然氣；實際上游海外供應商未逐一揭露，非台股上市櫃關係。
  • 瓦斯表、被覆無縫鋼管及管線工程供應商 公司 113 年因工程需要採購瓦斯表及被覆無縫鋼管等物料，累計金額約 2.19949 億元；年報未揭露個別供應商名稱，因此 stock_id 設為 null。
Downstream
  • 工業用戶 C.H 113 年主要銷貨客戶，年報以代號揭露，銷貨金額 5.87298 億元，占全年銷貨淨額 7.23%；未揭露完整公司名稱，stock_id 設為 null。
  • 台灣合成橡膠股份有限公司 2103 年報截至 114/03/31 主要銷貨客戶以 TSRC 揭露，銷貨金額 2.02643 億元，占當期銷貨淨額 7.82%；TSRC 對應台橡，為台股上市公司。
  • 台灣電力股份有限公司 公司投資太陽光電系統，售電予台灣電力公司或其他再生能源售電業者；台電為國營事業，非台股上市櫃公司。
  • 高雄營業區家庭、商業、服務業及產業園區用戶 公司供應鳳山、大寮、鳥松、仁武、岡山、橋頭、大樹、燕巢、大社、林園、阿蓮、永安、旗山、田寮、美濃、內門等 16 個行政區，以及多個產業園區；多為分散用戶或非上市櫃個體。

Competitors

Sources（30）

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.