CRG (7642) 2026Q1 法說會簡報

Company Overview

基本資料 (Basic Information)

• 董事長 (Chairman): 蔡翔如
• 總經理 (General Manager): 楊偉成
• 成立日期 (Establishment Date): 2011年
• 總公司及生產基地 (Headquarters & Production Base): 台中市龍井區關連工業區
• 主要產品 (Main Products): DC直流馬達吊扇
• 資本額 (Capital): 新台幣3.015億
• 公司人數 (Number of Employees): 97人 (統計至2026年2月28日)
• 公司治理 (Corporate Governance): 2025鄧白氏中小企業菁英獎「再次」獲獎 (Top1000菁英企業)

公司概況 (Company Profile)

• 立足於臺灣的專業DC直流馬達吊扇設計製造商。
• 創立於2011年，致力於DC直流馬達吊扇設計、研發、製造及銷售。
• 主要市場為美國、澳洲及歐洲。
• 在南北半球均有客戶，使我們的產能在各季可平均互補。

公司廠房 (Company Facilities)

• 研發中心預定地 (R&D Center Planned Site): 226坪 (Ping)
• 梧棲廠 (Wuqi Factory): 618坪
• 龍井二廠 (Longjing Second Factory): 521坪
• 停車場 (Parking Lot): 525坪
• 龍井一廠 (Longjing First Factory): 737坪
• 未來廠房預定地 (Future Factory Planned Site): 1604坪

公司介紹 (Company Introduction) - Milestones

• 2011/9: 創立 (Established)
• 2014/10: HKTDC香港燈展榮獲 My Favorite Lighting Products Decorative Household Award
• 2015: ISO 9001認證 (ISO 9001 Certified)
• 2018/12: 移至新總部 (Moved to new headquarters)
• 2020/07: 導入鼎新ERP系統 (Implemented Dingxin ERP system)
• 2020/09: 全廠推行TPS精實管理 (Implemented TPS Lean Management across all factories)
• 2020/10: 昶瑞卡內基內訓 (Champ-Ray Carnegie Internal Training)
• 2020/11: 導入CRG企業識別系統 (Implemented CRG Corporate Identity System)
• 2022/04: 與客戶開發案獲IF設計獎 (Won iF Design Award for customer development project)
• 2023/04: OTC股票代碼7642 (OTC stock code 7642)
• 2023/06: 正式登創櫃板 (Officially listed on Emerging Stock Board)
• 2023/09: 正式公開發行 (Officially Publicly Issued)
• 2023/12: 正式興櫃 (Officially listed on Emerging Stock Market)
• 2024/01: ISO 14064-1 查證 (ISO 14064-1 Verified)
• 2024/04: ISO 27001認證 (ISO 27001 Certified)
• 2024/05: AS9100認證 (AS9100 Certified)
• 2025/05: 正式上櫃 (Officially listed on Main Board)
• 2025/08: ESG永續報告書 (ESG Sustainability Report)
• 2025/09: 獲頒年度供應商 (Awarded Annual Supplier)

Financial Highlights

經營實績 (Operating Results)

簡明綜合損益表 (Condensed Consolidated Income Statement) 單位:新台幣千元 (Unit: NT$ Thousand); EPS: 元 (NT$)

Products & Technologies

CRG 昶瑞機電 (CRG Champ-Ray Industrial)

• 智慧轉動，永續綠能 (Smart Revolution & Sustainable Green Energy)
• Core Technologies/Products:
  • DC CEILING FAN (DC直流馬達吊扇)
  • DRONE POWER MODULE (無人機動力模組)
  • FRAMELESS BLDC MOTORS (無框式直流無刷馬達)
  • CRG (likely refers to COBOT/Automation solutions)

CRG產品樹 (CRG Product Tree)

• 吊扇 (Ceiling Fan):
  • 外銷 (Export) -> 銷售地生產 (Production in sales regions)
  • 內銷 (Domestic Sales)
• 無人機動力模組 (Drone Power Module):
  • 馬達與電調 (Motors & ESCs)
    • 航太產業 (Aerospace Industry): 中大型無人機動力模組 (Medium to large UAV power modules)
  • 槳葉 (Propellers)
    • 碳纖維槳葉 (Carbon fiber propellers): 在地化 (Localization), 生產 (Production)
    • 專業設計葉片流體力學 + 複合材料廠商深度配合 (Professional design of blade fluid dynamics + deep cooperation with composite material manufacturers)
• COBOT:
  • 昶制科技股份有限公司 (Champ-Ray Industrial Co., Ltd.)
  • RAE系統 (RAE System)
  • 手臂整合模組 (Robot arm integration module)

主要業務與主力產品 (Main Business & Key Products)

1. 家用及商用的DC直流馬達吊扇 (Household and Commercial DC Ceiling Fans)
   • Applications:
     • Home: Ceiling Fans can be used in the living room, bedroom, kitchen and other places at home.
     • Commercial: Ceiling Fans can be used in commercial areas such as stations, airports, industrial plants, and sports venues.
   • Components: 馬達 (Motor), 燈具 (Lighting), 控制器 (Controller), 發射器 (Transmitter), 其他零配件 (Other accessories).
   • Source: Maia Research Analysis
2. DC直流馬達吊扇的零件備品 (DC Ceiling Fan Spare Parts): 燈具 (Lighting), 馬達 (Motor), 電控 (Electronic Control).

產品廣度 Product Road map (Product Breadth)

• CFM風量 (CFM Air Volume) vs. Size 吊扇尺寸 (Ceiling Fan Size)
• 一般市場主力 (Mainstream Market Focus): 36" to 56"
• 昶瑞主力 (Champ-Ray Focus): 52" to 120" (covering larger sizes)
• Design Philosophy: 設計 (Design), 製造 (Manufacturing), 節能 (Energy Saving), 廣度 (Breadth), 安全 (Safety), 整合 (Integration).

戶外扇示意圖與實際使用狀況 (Outdoor Fan Schematic and Actual Usage)

• Images show various outdoor ceiling fan installations in different settings (patios, covered outdoor areas).

優勢 (Advantages) - Ceiling Fans

1. 產品廣度專精於中、大尺寸 (Product breadth specializes in medium and large sizes).
2. 大部分生產機種為戶外扇，部分機型為Coastal-Rated (Most models produced are outdoor fans, some are Coastal-Rated).
3. 由OEM、ODM模式，進階以創新技術提供優質產品 (Progressing from OEM/ODM to providing high-quality products with innovative technology).
4. 產品性能優越，獨家單火線技術、高效能磁鐵搶攻市場 (Superior product performance, exclusive single live wire technology, high-efficiency magnets to capture the market).
5. 以無人機馬達技術優化吊扇產品性能 (Optimizing ceiling fan performance with drone motor technology).
6. 每季持續推出新產品設計，提供客戶選秀 (Continuously launching new product designs every quarter, offering choices to customers).
7. 建立韌性供應鏈並予以最佳化，彈性製造 (Establishing a resilient and optimized supply chain for flexible manufacturing).

重要專利 (Important Patents) - Ceiling Fans

無人機上下游產業鏈 (UAV Upstream and Downstream Industry Chain)

• 上游 (Upstream):
  • 無人機設計研發 (UAV Design & R&D)
  • 關鍵材料 (Key Materials): 鋼材 (Steel), 鎂鋁合金 (Magnesium-aluminum alloy), 鋁合金 (Aluminum alloy), 樹脂基 (Resin-based), 陶瓷基 (Ceramic-based).
• 中游 (Midstream):
  • 無人機組件製造 (UAV Component Manufacturing):
    • 飛控系統 (Flight Control System): 主控晶片 (Main control chip), 陀螺儀等 (Gyroscopes, etc.)
    • 動力系統 (Power System): 電源供應 (Power supply), 馬達+ESC+槳葉 (Motor+ESC+Propeller)
    • 任務酬載系統 (Payload System): 視覺影像 (Visual imaging), 雷達 (Radar), 傳感器 (Sensors), 圖傳系統 (Image transmission system), 雲台系統 (Gimbal system)
  • 地面系統 (Ground System): 輔助設備 (Auxiliary equipment), 監控設備 (Monitoring equipment), 數據處理 (Data processing), 起降系統 (Take-off & landing system).
  • 無人機整機 (Complete UAV)
• 下游 (Downstream):
  • 應用端 (Application End): 軍用偵查/攻擊 (Military reconnaissance/attack), 航空偵測 (Aerial detection), 農林植保 (Agricultural and forestry plant protection), 電力巡檢 (Power line inspection), 運輸 (Transportation), 城市交通 (Urban traffic).
  • 資料來源 (Source): 福邦投顧 (Fubon Securities Investment Consulting)

無人機級距 (UAV Categories)

• 無人航空載具UAV (Unmanned Aerial Vehicle)
• 城市空中運輸UAM (Urban Air Mobility)
• Examples: Cargo Drone, eVTOL.
• Scale (from smallest to largest): Passenger cars -> Drones (UAV) -> Flyingcars (UAM) -> Helicopters -> Airplanes -> Satellites.

無人機關鍵零部件 (UAV Key Components)

• 動力模組 (Power Module):
  • CR1506 Combo: CR1506 (Motor), CR200A-14S (ESC)
  • CR1508 Combo: CR1508 (Motor), CR280A-24S (ESC)
  • CR1510 Combo: CR1510 (Motor), CR280A-24S (ESC)
• 飛控模組 (Flight Control Module)
• 電力模組 (Power Module)
• 機身 (Airframe)

無人機動力模組產品-CR1506 Combo (UAV Power Module Products - CR1506 Combo)

• CR1506 (Motor):
  • 電壓範圍 (Voltage Range): 40~60 V
  • 推薦槳葉 (Recommended Propeller): 43 Inch
  • 最大電流 (Max Current): 120 A
  • 最大功率 (Max Power): 6,000 W
  • 最大推力 (Max Thrust): 30 kgf
  • 尺寸(WDH) (Dimensions): 150 x 150 x 60 mm
  • 重量 (Weight): 1.7 kg
  • IP: IP53
• CR200A-14S (ESC):
  • 電壓範圍 (Voltage Range): 40 ~ 60 V
  • 最大電流 (Max Current): 200 A (5s)
  • PWM 頻率 (PWM Frequency): 50 ~ 400Hz
  • PWM 脈寬 (PWM Pulse Width): 1100 μs ~ 1940μs
  • 尺寸 (Dimensions): 141 x 72.6 x 20.8 mm
  • 重量 (Weight): 530g
  • IP: IP56
• CR2X431401 (Propeller):
  • 43寸槳葉 (43-inch Propeller)
  • 一體、碳纖維槳葉 (Integrated, Carbon Fiber Propeller)

無人機動力模組產品-CR1508 Combo (UAV Power Module Products - CR1508 Combo)

• CR1508 (Motor):
  • 電壓範圍 (Voltage Range): 48~100 V
  • 推薦槳葉 (Recommended Propeller): 62 Inch
  • 最大電流 (Max Current): 113 A
  • 最大功率 (Max Power): 11,334 W
  • 最大推力 (Max Thrust): 60 kgf
  • 尺寸(WDH) (Dimensions): 156.8 x 156.8 x 85.5 mm
  • 重量 (Weight): 3.6 kg
  • IP: IP53
• CR280A-24S (ESC):
  • 電壓範圍 (Voltage Range): 48 ~ 100 V
  • 最大電流 (Max Current): 280 A (5s)
  • PWM 頻率 (PWM Frequency): 50 ~ 400Hz
  • PWM 脈寬 (PWM Pulse Width): 1100 μs ~ 1940μs
  • 尺寸 (Dimensions): 141 x 72.6 x 49.4 mm
  • 重量 (Weight): 1,130g
  • IP: IP56
• CR2X562001 (Propeller):
  • 56寸槳葉 (56-inch Propeller)
  • 一體、碳纖維槳葉 (Integrated, Carbon Fiber Propeller)

無人機動力模組產品-CR1510 Combo (UAV Power Module Products - CR1510 Combo)

• CR1510 (Motor):
  • 電壓範圍 (Voltage Range): 48~100 V
  • 推薦槳葉 (Recommended Propeller): 68 Inch
  • 最大電流 (Max Current): 200 A
  • 最大功率 (Max Power): 20,100 W
  • 最大推力 (Max Thrust): 93 kgf
  • 尺寸(WDH) (Dimensions): 156.8 x 156.8 x 105.3 mm
  • 重量 (Weight): 5.1 kg
  • IP: IP53
• CR280A-24S (ESC):
  • 電壓範圍 (Voltage Range): 48 ~ 100 V
  • 最大電流 (Max Current): 280 A (5s)
  • PWM 頻率 (PWM Frequency): 50 ~ 400Hz
  • PWM 脈寬 (PWM Pulse Width): 1100 μs ~ 1940μs
  • 尺寸 (Dimensions): 141 x 72.6 x 49.4 mm
  • 重量 (Weight): 1,130g
  • IP: IP56
• CR2X682401 (Propeller):
  • 68寸槳葉 (68-inch Propeller)
  • 一體、碳纖維槳葉 (Integrated, Carbon Fiber Propeller)

動力模組實測影片 (Power Module Testing Video)

• Slide shows images of power module testing setups.

試飛 (Test Flight)

• Slide shows images of drone test flights.

應用量級 (Application Scale)

• Images show agricultural spraying drones, large multi-rotor drones, and eVTOL aircraft.

優勢 (Advantages) - UAV Power Modules

1. 外徑15公分中大型馬達動力模組完整解決方案，取代競爭廠家 (Complete solution for medium to large motor power modules with an outer diameter of 15 cm, replacing competitors).
2. 小型、中小型無人機馬達快速打樣、量化能力 (Rapid prototyping and mass production capability for small and medium-sized UAV motors).
3. 運輸機、農噴機等重負載整機解決方案 (Complete solutions for heavy-load aircraft such as transport drones and agricultural spraying drones).
4. 0-100公斤動力拉載測試設備，加速產品驗證與性能優化 (0-100 kg thrust testing equipment to accelerate product verification and performance optimization).
5. AS9100、ISO27001等認證，加速切入全球供應鏈合作機會 (AS9100, ISO27001, and other certifications to accelerate entry into global supply chain cooperation opportunities).

昶制科技公司 (Chang-Zhi Technology Co.)

• 昶制不僅是系統整合商，更是手臂平台整合商，藉由機械手臂控制與3D技術的深度整合，並以3D視覺加工應用為核心，開發出「RAE 手臂編輯應用系統」，打造跨品牌、跨應用的手臂整合平台。可讓客戶無須再分別學習各家機械手臂的教導器與程式語言，輕鬆完成機械手臂操作與設定。
• RAE 手臂編輯應用系統 (RAE Robot Arm Editing Application System):
  • 圖形化堆棧 (Graphical Stacking): 擺脫傳統堆棧須個別排列，RAE只須設定棧板、箱體大小及棧板定位即可實施堆棧，讓廠內使用人員快速上手 (Eliminates traditional individual stacking arrangements; RAE only requires setting pallet, box size, and pallet position for stacking, allowing factory personnel to quickly get started).
  • 智慧拆棧 (Smart Unstacking): 拆棧取料、割袋、抖動倒料 (Unstacking, material retrieval, bag cutting, shaking to empty materials). 透過視覺判定系統，執行「破袋」、「抖袋」、「落袋」的工作，並於缺料自動預警或警示人員補料 (Through visual recognition system, performs "bag breaking," "bag shaking," and "bag dropping" tasks, and automatically warns or alerts personnel for material replenishment when shortages occur).
  • 視覺判定 (Visual Recognition): Images show visual inspection for missing components (e.g., "少底" - missing base).
  • 智慧產線建置 (Smart Production Line Setup): Diagram shows an automated packaging line with various machines (開箱機 - unboxing machine, 折蓋封箱機 - flap sealing machine, 角邊封箱機 - corner sealing machine, 動力皮帶捆包機 - power belt strapping machine, 水平棧板捆包機 - horizontal pallet strapping machine, 穿箭型棧板捆包機 - arrow-type pallet strapping machine, 動力羅拉裹膜機 - power roller stretch wrapper).

昶制重要專利 (Chang-Zhi Important Patents)

Outlook & Strategy

未來目標 (Future Goals)

• 短期目標 (Short-term Goals):
  • 實現無人機槳葉在地化生產，提供完整動力模組。 (Achieve localized production of UAV propellers and provide complete power modules.)
  • 執行吊扇產品內銷計畫。 (Execute domestic sales plan for ceiling fan products.)
  • 維繫既有吊扇客戶關係並積極拓展新客戶，穩定營運基礎並持續擴大市場版圖。 (Maintain existing ceiling fan customer relationships, actively develop new customers, stabilize operations, and continuously expand market share.)
  • 於歐洲、美國、日本等地持續開發無人機動力模組客戶。 (Continuously develop UAV power module customers in Europe, the US, Japan, and other regions.)
• 中期目標 (Mid-term Goals):
  • 建置(半)自動化產線。 (Establish (semi-)automated production lines.)
  • 優化無人機槳葉製程/技術，提升產能。 (Optimize UAV propeller manufacturing processes/technology to increase production capacity.)
  • 吊扇於重要客戶市場設立子公司，深耕當地市場。 (Establish subsidiaries in key customer markets for ceiling fans to deeply cultivate local markets.)
• 長期布局 (Long-term Strategy):
  • 於美國子公司生產吊扇產品，搭配自動化產線與視覺判定系統減低人力需求。 (Produce ceiling fan products at the US subsidiary, combined with automated production lines and visual recognition systems to reduce labor demand.)
  • 與無人機成機廠深度配合，提供完整解決方案。 (Deeply cooperate with UAV manufacturers to provide complete solutions.)
  • 申請Green UAS認證，打入美國市場。 (Apply for Green UAS certification to enter the US market.)

Additional Data

活動剪影 (Activity Highlights)

• 2024/2025 日本無人機展 (Japan Drone Exhibition)
• 2023/2025 杜拜航太展 (Dubai Airshow)
• 論壇活動 (Forum Activities):
  • 台美AI無人機數位協作平台論壇 (Taiwan-US AI UAV Digital Collaboration Platform Forum)
  • 塑膠中心塑膠產業創新論壇 (Plastic Industry Innovation Forum at the Plastics Industry Development Center)

免責聲明 (Disclaimer)

• 本簡報及同步發布的相關訊息中所提及的前瞻性資訊，包括營運展望、財務狀況及業務發展等內容，均根據本公司內部資料與當前整體經濟環境所推估。
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