台灣福興工業股份有限公司 2025Q3 法說會簡報
Company Overview
| 項目 (Item) | 資訊 (Information) |
|---|---|
| 公司名稱 (Company Name) | 台灣福興工業股份有限公司 (TAIWAN FU HSING INDUSTRIAL CO., LTD) |
| 設立日期 (Establishment Date) | 民國46年11月23日 |
| 上市日期 (Listing Date) | 民國84年3月15日 |
| 登記實收資本額 (Registered Paid-in Capital) | 15億 (現金減資後) (NT$ 1.5 billion, after cash capital reduction) |
| 位址 (Location) | 高雄市岡山區育才路88號 |
| 集團員工人數 (Group Employee Count) | 2,200人 |
Products & Technologies
主要產品 (Main Products):
- 門鎖 (Door locks)
- 電子鎖 (Electronic locks)
- 關門器 (Door closers)
- 防火平推鎖 (Panic bars / Fire-rated push bars)
- 天地鉸鏈 (Floor hinges / Pivot hinges)
Recent Performance
綜合損益表 (Consolidated Income Statement) — 3Q 25 vs. 2Q 25 vs. 3Q 24
單位: 新台幣百萬元 (除特別標示者外)
| 項目 (Item) | 3Q 25 | 2Q 25 | 3Q 24 | 季變化 (Q/Q Change) | 年變化 (Y/Y Change) |
|---|---|---|---|---|---|
| 營業收入 (Revenue) | 1,977 | 1,927 | 2,224 | 2.6% | -11.1% |
| 營業毛利 (Gross Profit) | 402 | 430 | 566 | -6.5% | -29.0% |
| 營業費用 (Operating Expenses) | (214) | (209) | (236) | 2.4% | -9% |
| 營業淨利 (Operating Income) | 188 | 221 | 330 | -14.9% | -43.0% |
| 業外收支 (Non-operating Income/Expense) | 101 | (249) | (34) | N/A | N/A |
| 稅前淨利 (Profit Before Tax) | 289 | (28) | 296 | N/A | -2.4% |
| 歸屬母公司淨利 (Net Income Attributable to Parent) | 237 | (48) | 217 | N/A | 9.2% |
| 每股盈餘 (EPS, 新台幣元) | 1.42 | (0.25) | 1.16 | ||
| 平均匯率 (Avg. Exchange Rate, USD/NTD) | 29.76 | 30.77 | 32.35 | -3.3% | -8.0% |
註: 3Q 25每股盈餘係依現金減資後加權平均股本16.63億計算。
綜合損益表 (Consolidated Income Statement) — 2025 1Q3Q vs. 2024 1Q3Q
單位: 新台幣百萬元 (除特別標示者外)
| 項目 (Item) | 2025 1Q~3Q | 2024 1Q~3Q | 年變化 (Y/Y Change) |
|---|---|---|---|
| 營業收入 (Revenue) | 5,674 | 6,103 | -7.0% |
| 營業毛利 (Gross Profit) | 1,255 | 1,455 | -13.7% |
| 營業費用 (Operating Expenses) | (648) | (698) | -7.2% |
| 營業淨利 (Operating Income) | 607 | 757 | -19.8% |
| 業外收支 (Non-operating Income/Expense) | (90) | 162 | -156% |
| 稅前淨利 (Profit Before Tax) | 517 | 919 | -44% |
| 歸屬母公司淨利 (Net Income Attributable to Parent) | 387 | 697 | -44% |
| 每股盈餘 (EPS, 新台幣元) | 2.14 | 3.70 | |
| 平均匯率 (Avg. Exchange Rate, USD/NTD) | 30.90 | 32.00 | -3.4% |
註: 2025 1Q~3Q 每股盈餘係依現金減資後加權平均股本18.1億計算。
Financial Highlights and Key Metrics
獲利能力指標 (Profitability Ratios)
| 項目 (Item) | 3Q 25 | 2Q 25 | 3Q 24 | 季變化 (Q/Q Change) | 年變化 (Y/Y Change) |
|---|---|---|---|---|---|
| 毛利率 (Gross Margin) | 20.4% | 22.3% | 25.4% | -1.9 ppts | -5.0 ppts |
| 營業淨利率 (Operating Margin) | 9.5% | 11.5% | 14.8% | -2.0 ppts | -5.3 ppts |
| 純益率 (Net Margin) | 12.0% | -2.5% | 9.8% | +14.5 ppts | +2.2 ppts |
| 項目 (Item) | 2025 1Q~3Q | 2024 1Q~3Q | 年變化 (Y/Y Change) |
|---|---|---|---|
| 毛利率 (Gross Margin) | 22.1% | 23.8% | -1.7 ppts |
| 營業淨利率 (Operating Margin) | 10.7% | 12.4% | -1.7 ppts |
| 純益率 (Net Margin) | 6.8% | 11.4% | -4.6 ppts |
資產負債表 (Balance Sheet)
單位: 新台幣百萬元
| 項目 (Item) | 3Q 25 金額 (Amount) | 3Q 25 % | 2Q 25 金額 (Amount) | 2Q 25 % | 3Q 24 金額 (Amount) | 3Q 24 % |
|---|---|---|---|---|---|---|
| 現金 (Cash) | 1,778 | 20% | 1,699 | 19% | 2,294 | 24% |
| 應收票據及帳款 (A/R & Notes) | 1,199 | 14% | 1,269 | 14% | 1,489 | 16% |
| 存貨 (Inventory) | 874 | 10% | 1,059 | 12% | 846 | 9% |
| 固定資產 (Fixed Assets) | 3,297 | 37% | 3,246 | 37% | 2,806 | 30% |
| 長期投資 (Long-term Investments) | 408 | 5% | 407 | 5% | 496 | 5% |
| 資產總計 (Total Assets) | 8,849 | 100% | 8,848 | 100% | 9,478 | 100% |
| 流動負債 (Current Liabilities) | 1,682 | 19% | 1,598 | 18% | 1,591 | 17% |
| 非流動負債 (Non-current Liabilities) | 349 | 4% | 381 | 4% | 549 | 6% |
| 負債總計 (Total Liabilities) | 2,031 | 23% | 1,979 | 22% | 2,140 | 23% |
| 權益總計 (Total Equity) | 6,818 | 77% | 6,869 | 78% | 7,338 | 77% |
重要財務指標 (Key Financial Indicators)
| 項目 (Item) | 3Q 25 | 2Q 25 | 3Q 24 |
|---|---|---|---|
| 應收帳款週轉率(次) (A/R Turnover Rate, times) | 6.4 | 6.2 | 6.1 |
| 存貨週轉率(次) (Inventory Turnover Rate, times) | 5.9 | 5.4 | 6.5 |
| 流動比率(倍) (Current Ratio, times) | 2.9 | 3.1 | 3.5 |
現金流量表 (Cash Flow Statement)
單位: 新台幣百萬元
| 項目 (Item) | 3Q 25 | 2Q 25 | 3Q 24 |
|---|---|---|---|
| 期初現金 (Beginning Cash) | 1,699 | 2,771 | 3,098 |
| 營業活動淨變動 (Net Change from Operating Activities) | 60 | (625) | (75) |
| 資本支出 (Capital Expenditure) | (150) | (46) | (113) |
| 借(還)款 (Borrowing (Repayment)) | (34) | (23) | (7) |
| 現金股利 (Cash Dividends) | - | (584) | (565) |
| 投資及其他 (Investment and Others) | 203 | 206 | (44) |
| 期末現金 (Ending Cash) | 1,778 | 1,699 | 2,294 |
Strategic Initiatives and Plans
近期營運重點 (Recent Operational Focus)
- 完成現金減資案 (Completed cash capital reduction plan).
- 泰國子公司建廠 (Construction of the subsidiary factory in Thailand).
Key Charts, Graphs, and Data Points
美國-新屋開工,新屋銷售,成屋庫存 (US - Housing Starts, New Home Sales, Existing Home Inventory)
(Data points extracted from the chart for July 2025)
| 指標 (Indicator) | 數值 (Value) | 備註 (Note) |
|---|---|---|
| 美國-新屋開工 (SAAR) (US Housing Starts, SAAR) | 1,307k | |
| 美國-新屋銷售 (SAAR, 年增率) (US New Home Sales, SAAR, Y/Y Growth Rate) | 15.44% | |
| 美國-成屋庫存 (US Existing Home Inventory) | 1,520k |
Additional Data
免責聲明 (Disclaimer)
本簡報是建立於本公司從各項來源所取得之資訊。有些資訊可能受未來不確定性因素影響，致使與原先本公司對於未來前景的說明迥異。未來若有變更或調整時，請以公開資訊觀測站公告資訊為依據。
(This presentation is based on the information obtained from various sources which the Company believes to be reliable. But at some point in the future, there are a variety of factors which could cause actual results to differ materially from those statements. Therefore, please refer to the information on MOPS website as the main basis if any adjustment has been made.)
MOPS Website: http://mops.twse.com.tw/mops/web/index