越峯電子 (ACME Electronics Corporation) 2026Q1 法說會簡報
Company Overview
- Company Name: 越峯電子材料股份有限公司 (ACME Electronics Corporation)
- Parent Company: 台聚集團 (ACME Group)
- Establishment Date: 1991/09/05
- Capital: 新台幣 21 億元 (NT$ 2.1 billion) (截至2026/02/28)
- Number of Employees: 1,832 (截至2026/02/28)
- Presenters:
- Company Overview, Business Review and Outlook: 王敏華 業務協理 (Wang Min-Hua, Business Associate Manager)
- Financial Information: 池玟萱 會計協理 (Chi Wen-Hsuan, Accounting Associate Manager)
- Disclaimer:
- 本次座談會發表內容,僅為迄今之資訊,未來如有進一步發展或調整,本公司將另依法公開訊息,但不更新或修正本簡報。
- 本報告中的內容,並非投資建議。
- (The content presented in this seminar is for information up to date only. If there are further developments or adjustments in the future, the Company will disclose information in accordance with the law, but will not update or amend this presentation. The content of this report is not investment advice.)
Financial Highlights
- Consolidated Revenue (合併營業額):
- 2024年度: 新台幣 30.96億元 (NT$ 3.096 billion)
- 2025年度: 新台幣 30.69億元 (NT$ 3.069 billion)
Recent Performance and Results
Consolidated Income Statement (單位:新台幣佰萬元)
| Metric (項目) | 2025 | 增(減)率 (YoY Change) | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| 銷貨收入 (Sales Revenue) | 3,069 | -0.8% | 3,095 | 2,552 | 3,057 |
| 銷貨成本 (Cost of Goods Sold) | 2,560 | 4.1% | 2,458 | 2,314 | 2,537 |
| 銷貨毛利 (Gross Profit) | 509 | -20.1% | 637 | 238 | 520 |
| 毛利率 (Gross Margin) | 16.6% | 20.6% | 9.3% | 17.0% | |
| 銷管費用 (Selling & Administrative Expenses) | 358 | 5.9% | 338 | 314 | 334 |
| 研發費用 (R&D Expenses) | 211 | 3.4% | 204 | 171 | 139 |
| 其他營業費損 (Other Operating Expenses/Losses) | 7 | 450.0% | (2) | 1 | 0 |
| 營業淨利(淨損) (Operating Income (Loss)) | (67) | -169.1% | 97 | (248) | 47 |
| 營業淨利(淨損)率 (Operating Income (Loss) Margin) | -2.2% | 3.1% | -9.7% | 1.5% | |
| 營業外收入(支出) (Non-Operating Income (Expenses)) | (24) | -150.0% | 48 | (1) | 6 |
| 稅前淨利(淨損) (Income (Loss) Before Tax) | (91) | -162.8% | 145 | (249) | 53 |
| 所得稅(利益)費用 (Income Tax (Benefit) Expense) | 3 | -80.0% | 15 | (38) | 38 |
| 稅後淨利(淨損) (Net Income (Loss)) | (94) | -172.3% | 130 | (212) | 15 |
| 稅後淨利(淨損)率 (Net Income (Loss) Margin) | -3.1% | 4.2% | -8.3% | 0.5% | |
| 稅後淨利(淨損)歸屬於 (Net Income (Loss) Attributable to): | |||||
| - 本公司業主 (Owners of the Company) | (66) | 155 | (171) | 16 | |
| - 非控制權益 (Non-controlling Interests) | (28) | (25) | (41) | (1) | |
| 基本每股盈餘(損失) (Basic EPS (Loss)) | (0.31) | 0.73 | (0.81) | 0.09 |
Financial Ratios Analysis (合併財報)
| Ratio (項目) | 2025年度 | 2024年度 | 2023年度 | 2022年度 |
|---|---|---|---|---|
| 營業利益率(%) (Operating Profit Margin) | (2.2) | 3.1 | (9.7) | 1.5 |
| 純益(損)率(%) (Net Income (Loss) Margin) | (3.1) | 4.2 | (8.3) | 0.5 |
| 負債占資產比率(%) (Debt-to-Asset Ratio) | 53 | 51 | 49 | 58 |
| 流動比率(%) (Current Ratio) | 274 | 216 | 271 | 199 |
| 速動比率(%) (Quick Ratio) | 178 | 135 | 171 | 111 |
| 平均收現日數 (Average Days to Collect Receivables) | 101 | 91 | 111 | 100 |
| 平均銷貨日數 (Average Days to Sell Inventory) | 135 | 128 | 146 | 137 |
Products & Technologies
- Main Products (主要產品):
- 錳鋅、鎳鋅軟性鐵氧磁鐵芯 (Manganese-zinc, nickel-zinc soft ferrite cores)
- 碳化矽粉體 (Silicon carbide powder)
- 碳化矽燒結體 (Silicon carbide sintered bodies)
- Product Categories:
- 軟性鐵氧磁鐵芯 (Soft Ferrite Cores):
- 產業鏈簡介 (Industry Chain Introduction - Passive Components):
- 上游 (Upstream):
- 電阻器材料 (Resistor materials): 氧化鋁陶瓷基板、導電漿墨 (Alumina ceramic substrates, conductive paste ink)
- 電容器材料 (Capacitor materials): 如電蝕/化成鋁箔、介面瓷粉 (e.g., electrolytic/formed aluminum foil, interface ceramic powder)
- 電感器材料 (Inductor materials): 如鐵氧體、導電漿墨 (e.g., ferrite, conductive paste ink)
- 濾波器、振盪器材料 (Filter, oscillator materials): 鋁酸鋰/鈮酸鋰晶圓/片、石英基板、金屬及陶瓷封裝材料 (Lithium aluminate/niobate wafers/sheets, quartz substrates, metal and ceramic packaging materials)
- 中游 (Midstream):
- 電阻器 (Resistors)
- 電容器 (Capacitors)
- 電感器 (Inductors)
- 濾波器、振盪器 (Filters, oscillators)
- 下游 (Downstream):
- 各類電子產品應用 (Various electronic product applications)
- 上游 (Upstream):
- 應用 (Applications):
- High power density module
- Test equipment
- Air-con
- LED Lighting
- UPS Power
- Telecom power
- PV Inverter
- Car charger
- EV & HEV OBC (On-Board Charger)
- Car charging pile
- Desk-top PC, IT PC, Bitcoin miner
- Server Power
- 產業鏈簡介 (Industry Chain Introduction - Passive Components):
- SiC (碳化矽):
- 產品 (Products):
- 高純度粉體 (High purity powder): N-type, 半絕緣 (Semi-insulating)
- 超微細粉體 (Ultrafine powder)
- SiC ring
- ICP Tray
- Bonding wafer
- SiC mill component
- SiC Block
- Seal Ring
- 碳化矽燒結體 (Silicon carbide sintered bodies)
- 應用 (Applications):
- From high purity powder: 功率組件 (Power components), 5G通訊/AR 眼鏡 (5G communication/AR glasses)
- From carbon silicon sintered body: 半導體領域 (Semiconductor field), 其他工業 (Other industries)
- 產品 (Products):
- 軟性鐵氧磁鐵芯 (Soft Ferrite Cores):
Outlook & Strategy
- Market Outlook (市場展望):
- 2023-2026年全球server、AI server出貨量年增/減變化 (2023-2026 Global server, AI server shipment YoY growth/decline):
- Total server:
- 2023: -6.0%
- 2024: 2.1%
- 2025: 7.8%
- 2026F: 12.8%
- AI server:
- 2023: 34.6%
- 2024: 46.0%
- 2025: 24.2%
- 2026F: 28.3%
- Source: TrendForce, Jan. 2026
- Total server:
- 2024-2030 POWER SIC DEVICE MARKET, SPLIT BY APPLICATION:
- Market Size:
- 2024: $3.4B
- 2030: $10.3B
- CAGR (2024-2030): 20.3%
- Market Share by Application (2030):
- Automotive and mobility: 71%
- Industrial: 28%
- Telecom and Infrastructure: 1%
- Others: 0.5%
- Application Categories:
- Mobile & Consumer: Home appliances, PC
- Automotive and Mobility: EV/HEV, E-motorcycle, Train
- Telecom and Infrastructure: Data centers, Servers, Base stations
- Industrial: UPS, Motor drives, Industrial power supply, DC charging station, Wind, Photovoltaics
- Others: Defense, Aerospace applications, Medical
- Source: Power SiC 2025 – Markets & Applications report, Yole Group, July 4, 2025
- Market Size:
- 2023-2026年全球server、AI server出貨量年增/減變化 (2023-2026 Global server, AI server shipment YoY growth/decline):
ESG / Sustainability
- ESG Milestones (ESG 大事紀):
- 越峰榮獲2025年TCSA台灣企業永續獎 (ACME won 2025 TCSA Taiwan Corporate Sustainability Award):
- 企業永續報告-【企業永續報告書-電子資訊製造業第二類白金獎】 (Corporate Sustainability Report - [Corporate Sustainability Report - Electronics and Information Manufacturing Industry, Category II Platinum Award])
- 企業永續綜合績效-【台灣永續企業績優獎】 (Corporate Sustainability Performance - [Taiwan Sustainable Enterprise Excellence Award])
- 越峰榮獲2025年TCSA台灣企業永續獎 (ACME won 2025 TCSA Taiwan Corporate Sustainability Award):
- Philosophy:
- 台聚集團秉持「創聚永續價值、共聚永續社會」的精神,將ESG思維深化於集團永續發展策略,持續推動及擴大社會正向影響力,創造企業與社會的共享價值。
- (ACME Group upholds the spirit of "creating sustainable value and building a sustainable society together", deepening ESG thinking into the Group's sustainable development strategy, continuously promoting and expanding positive social influence, and creating shared value for enterprises and society.)