三豐建設 (5514) 2025Q3 法說會簡報
免責聲明 (Disclaimer Statement)
- 本公司資料可能包含對於未來展望的表述，該類表述是基於對現況的預期，但同時受限於已知或未知風險或不確定性的影響，因此實際結果將可能明顯不同於表述內容。
- 除法令要求外，公司並無義務因應新資訊的產生或未來事件的發生，主動更新對未來展望的表述。
- 此簡報及其內容未經本公司書面許可，任何第三者不得任意取用。
(English Translation provided on Page 3)
- Sun Fon Construction Co., Ltd. (the "Company")'s statements of its current expectations are forward-looking statements subject to significant risks and uncertainties and actual results may differ materially from those contained in the forward-looking statements.
- Except as required by law, we undertake no obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.
- This presentation may not be stored, copied, distributed, transmitted, without prior written approval of the Company.
Company Overview
| 項目 (Item) | 中文 (Chinese) | Eglish (English) |
|---|---|---|
| 公司名稱 | 三豐建設股份有限公司 | Sun Fon Construction Co.,Ltd. |
| 公司成立時間 | 1988年 | Established : 1988 |
| 上櫃年度 | 1998年 (代號: 5514) | Listed on OTC : 1998 (Code5514) |
| 資本額 | 新台幣 23.6億 | Capital : NT$ 2.36 billion |
| 董事長 | 洪敏夫 | Chairman : Hung Min-Fu |
| 總經理 | 藍麗華 | General manager : Lan Li-Hua |
| 公司地址 | 台北市長安東路二段173號7樓 | Address : 173, Sec.2, Chang An East Road, Taipei, Taiwan |
Financial Highlights
營運績效 - 合併綜合損益表 (Financial Performance - Comprehensive Income Statement)
Unit: NTD thousand (新台幣仟元)
| 項目 (Item) | 2022 | 2023 | 2024 | 2025Q3 |
|---|---|---|---|---|
| 營業收入 (Net Sales) | 6,936 | 478,477 | 684,936 | 4,335 |
| 營業毛利 (Gross Profit) | 5,211 | 97,499 | 162,752 | 3,044 |
| 營業毛利率(%) (Gross margin(%)) | 75.13 | 20.37 | 23.76 | 70.22 |
| 營業損益 (Operating Income) | (52,560) | 33,649 | 95,566 | (40,492) |
| 營業淨利率(%) (Operating margin(%)) | (757.79) | 7.03 | 13.95 | (934.07) |
| 營業外收支 (Total Non-Op Income) | 34,955 | 17,194 | 25,085 | 31,181 |
| 稅後淨利 (Net Income) | (13,914) | 28,916 | 84,835 | (9,311) |
| 每股盈餘 (EPS) | (0.07) | 0.14 | 0.39 | (0.04) |
| 權益報酬率% (ROE(%)) | (0.51) | 1.03 | 2.83 | (0.30) |
營運績效 - 合併資產負債表 (Financial Performance - Balance Sheet)
Unit: NTD thousand (新台幣仟元)
| 項目 (Item) | 2022 | 2023 | 2024 | 2025Q3 |
|---|---|---|---|---|
| 存貨 (Inventories) | 2,436,588 | 2,983,394 | 3,403,713 | 4,213,056 |
| 總資產 (Total assets) | 4,658,220 | 5,393,342 | 5,963,019 | 6,472,385 |
| 流動負債 (Current liabilities) | 1,928,585 | 2,505,885 | 2,855,429 | 3,362,057 |
| 總負債 (Total liabilities) | 1,934,435 | 2,509,663 | 2,859,837 | 3,366,471 |
| 股本 (Capital stock) | 2,162,255 | 2,162,255 | 2,270,368 | 2,361,183 |
| 權益總額 (Total equity) | 2,723,785 | 2,883,679 | 3,103,182 | 3,105,914 |
| 每股淨值 (Book value per share) | 13.12 | 13.89 | 14.21 | 13.70 |
營運績效 - 資產2025Q3存貨結構 (2025Q3 Inventories Structure)
Unit: NTD thousand (新台幣仟元)
| 項目 (Item) | 金額 (Amount) | % (佔總資產) |
|---|---|---|
| 營建用地 (Land for Construction) | 349,189 | 5.40% |
| 在建工程 (Construction in progress) | 3,827,486 | 59.13% |
| 完工存貨 (Buildings and Land Held for Sale) | 32,575 | 0.50% |
| 其他 (Other) | 3,806 | 0.06% |
| 存貨合計 (Total Inventories) | 4,213,056 | 65.09% |
| 總資產 (Total Assets) | 6,472,385 | 100% |
2025Q3 存貨區域及狀態分佈 (Inventories Location and Status Distribution)
區域分佈 (Location Breakdown):
- 大同區 (Datong District): 85%
- 內湖區 (Neihu District): 10%
- 中正區 (Zhongzheng District): 5%
狀態分佈 (Status Breakdown):
- 興建及銷售佔 (Properties under construction and for sale account for): 93%
- 規劃中 (Under Planning): 7%
營運績效 - 20152024年發放股利情形 (Dividend Distribution 20152024)
Unit: NTD/share (新台幣元/股)
| 年度 (Year) | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | TOTAL |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 現金股利 (Cash Dividend) | - | 0.35 | 0.6 | 0.2 | 0.5 | 0.5 | - | - | - | - | 2.15 |
| 股票股利 (Stock Dividend) | - | - | - | - | 1 | 0.7 | 0.26 | - | 0.5 | 0.4 | 2.86 |
| 公積配股 (Allotment of capital reserve) | - | - | - | - | - | - | 0.14 | - | - | - | 0.14 |
Business Segments
營運概況 - 興建中建案 (Projects under Construction)
Unit: NT$m (新台幣百萬元)
| 案名 (Name) | 區域 (District) | 土地面積(坪) Land Size(ping) | 設計/標章 Design / Mark | 產品規劃 Product | 推案量 Project Value (NT$m) | 認列收入年度 Revenue Year |
|---|---|---|---|---|---|---|
| 三豐AIT (Sunfon AIT) | 內湖區 | 215.03 | 綠建築 Green building, 智慧建築 Intelligent building, 耐震 Earthquake resistant | 10F/B3F | 601 | 2025, 2026 |
| 雲迪 (Yundi) | 大同區 | 346.67 | 綠建築 Green building, 智慧建築 Intelligent building, 耐震 Earthquake resistant | 15F/B5F | 1,587 | 2026 |
| 南昌路 (Nanchang Road) | 中正區 | 134.92 | 綠建築 Green building, 智慧建築 Intelligent building, 耐震 Earthquake resistant | 15F/B3F | 639 | 2027 |
| 雲極 (Yunji) | 大同區 | 668.83 | 綠建築 Green building, 智慧建築 Intelligent building, 耐震 Earthquake resistant | 24F/B6F SRC | 3,643 | 2027 |
| 雲承 (Yun cheng) | 大同區 | 188.46 | 綠建築 Green building, 智慧建築 Intelligent building, 耐震 Earthquake resistant | 11F/B4F | 736 | 2027 |
| 日麗 (Ri li) | 內湖區 | 269.53 | 綠建築 Green building, 智慧建築 Intelligent building, 耐震 Earthquake resistant | 11F/B3F | 717 | 2027 |
營運概況 - 開發完成建案 (Development Completed Projects)
Unit: NT$m (新台幣百萬元)
| 案名 (Name) | 區域 (District) | 土地面積(坪) Land Size(ping) | 設計/標章 Design / Mark | 產品規劃 Product | 推案量 Project Value (NT$m) | 認列收入年度 Revenue Year |
|---|---|---|---|---|---|---|
| 雲都 (Yundu) | 大同區 | 694.05 | 綠建築 Green building, 智慧建築 Intelligent building, 耐震 Earthquake resistant | 23F/B5F SRC | 3,134 | 2028 |
| 天玉街 (Tianyu Street) | 士林區 | 142.18 | 綠建築 Green building, 智慧建築 Intelligent building | 15F/B3F | 367 | 2029 |
Products, Services & Technology
主要設計/標章 (Key Design/Markings):
- 綠建築 (Green building)
- 智慧建築 (Intelligent building)
- 耐震 (Earthquake resistant)
- SRC (Steel Reinforced Concrete structure, noted for 雲極, 雲都, 長安西路101號案, 長安西路案)
Outlook & Strategy
未來展望 - 投資位置及價值 (Future Plans - Portfolio Location and Value)
Unit: NT$m (新台幣百萬元)
| No. | 案名 (Name) | 地區 (Location) | 基地面積(坪) Size(ping) | 推案量 Project Value (NT$m) | 產品規劃 Product |
|---|---|---|---|---|---|
| 1 | 重慶北路三段31-1號案 (Chongqing North Road-31-1) | 台北市大同區 (Taipei City Datong District) | 464.94 | 1,900 | 15F/B4F |
| 2 | 長安西路101號案 (Chang'an West Road-101) | 台北市大同區 (Taipei City Datong District) | 641.91 | 4,613 | 24F/B6F SRC |
| 3 | 長安西路案 (Chang'an West Road) | 台北市大同區 (Taipei City Datong District) | 435 | 2,795 | 24F/B5F SRC |
| 4 | 昌吉街案 (Changji Street) | 台北市大同區 (Taipei City Datong District) | 664.59 | 2,337 | 14F/B4F |
| 5 | 太原路案 (Taiyuan Road) | 台北市大同區 (Taipei City Datong District) | 400.51 | 1,759 | 22F/B5F |
| 6 | 延平北路三段案 (Yanping North Road Section 3 Project) | 台北市大同區 (Taipei City Datong District) | 665.75 | 1,983 | 15F/B4F |