奇鋐科技 2026Q1 法說會簡報
Company Overview
- 公司名稱: 奇鋐科技 (Asia Vital Components Co., Ltd.)
- 簡報主題: AVC 2026年第一季財務數據
Financial Highlights
2026 Q1 綜合損益表
- 幣別: 新台幣百萬元 (NT$ millions)
- 備註: 上述財務數據均經會計師查核/核閱簽證 | 會計科目 | 2026.Q1 | 2025.Q4 | QoQ | 2025.Q1 | YoY | | :------- | :------ | :------ | :---- | :------ | :---- | | 營業收入 | 49,038 | 47,775 | 1,263 (2.64%) | 23,333 | 25,705 (110.17%) | | 營業毛利 | 14,597 | 12,610 | 1,987 (15.76%) | 6,028 | 8,569 (142.15%) | | 營業毛利率 | 29.77% | 26.39% | 3.38% (12.81%) | 25.83% | 3.94% (15.25%) | | 營業淨利 | 12,019 | 10,015 | 2,004 (20.01%) | 4,361 | 7,658 (175.60%) | | 營業淨利率 | 24.51% | 20.96% | 3.55% (16.94%) | 18.69% | 5.82% (31.14%) | | 稅前淨利 | 11,979 | 10,053 | 1,926 (19.16%) | 4,620 | 7,359 (159.29%) | | 母公司稅後淨利 | 7,916 | 6,636 | 1,280 (19.29%) | 3,214 | 4,702 (146.30%) | | 淨利率 | 16.14% | 13.89% | 2.25% (16.20%) | 13.77% | 2.37% (17.21%) | | 每股盈餘(台幣元) | 20.17 | 16.92 | 3.25 (19.21%) | 8.28 | 11.89 (143.60%) |
2026 Q1營業外收入及支出
- 幣別: 新台幣百萬元 (NT$ millions)
- 備註: 上述財務數據均經會計師查核/核閱簽證 | 會計科目 | 2026.Q1 | 2025.Q4 | QoQ | 2025.Q1 | YoY | | :------- | :------ | :------ | :---- | :------ | :---- | | 淨利息收入(支出) | (10) | 103 | (113) (-109.71%) | (31) | 21 (-67.74%) | | 投資收益(損失) | (6) | 11 | (17) (-154.55%) | (44) | 38 (-86.36%) | | 處分固定資產收益(損失) | (20) | (280) | 260 (-92.86%) | (32) | 12 (-37.50%) | | 匯兌收益(損失) | (305) | (85) | (220) (258.82%) | 70 | (375) (-535.71%) | | 資產減損 | (18) | (57) | 39 (-68.42%) | (13) | (5) (38.46%) | | 其他 | 319 | 346 | (27) (-7.80%) | 309 | 10 (3.24%) | | 合計 | (40) | 38 | (78) (-205.26%) | 259 | (299) (-115.44%) |
2026 Q1簡明資產負債表
- 幣別: 新台幣百萬元 (NT$ millions)
- 備註: 上述財務數據均經會計師查核/核閱簽證 | 會計科目 | 2026.3.31 | 2025.12.31 | QoQ | 2025.3.31 | YoY | | :------- | :-------- | :--------- | :---- | :-------- | :---- | | 現金及銀行存款 | 67,880 | 58,530 | 9,350 (15.97%) | 34,492 | 33,388 (96.80%) | | 應收票據/帳款 | 11,406 | 12,133 | (727) (-5.99%) | 4,909 | 6,497 (132.35%) | | 存貨 | 50,968 | 49,572 | 1,396 (2.82%) | 39,585 | 11,383 (28.76%) | | 流動資產 | 135,871 | 126,176 | 9,695 (7.68%) | 86,217 | 49,654 (57.59%) | | 不動產,廠房及設備淨額 | 20,943 | 17,849 | 3,094 (17.33%) | 14,708 | 6,235 (42.39%) | | 非流動資產 | 40,122 | 33,961 | 6,161 (18.14%) | 25,608 | 14,514 (56.68%) | | 資產總額 | 175,993 | 160,137 | 15,856 (9.90%) | 111,825 | 64,168 (57.38%) | | 短期銀行借款 | 17,608 | 16,311 | 1,297 (7.95%) | 13,876 | 3,732 (26.90%) | | 應付票據/帳款 | 48,857 | 48,109 | 748 (1.55%) | 32,663 | 16,194 (49.58%) | | 流動負債 | 112,699 | 97,495 | 15,204 (15.59%) | 70,395 | 42,304 (60.10%) | | 長期銀行借款 | 7,190 | 6,949 | 241 (3.47%) | 3,324 | 3,866 (116.31%) | | 非流動負債 | 11,979 | 12,077 | (98) (-0.81%) | 8,077 | 3,902 (48.31%) | | 負債總額 | 124,678 | 109,572 | 15,106 (13.79%) | 78,472 | 46,206 (58.88%) | | 歸屬於母公司業主之權益 | 45,165 | 44,601 | 564 (1.26%) | 28,847 | 16,318 (56.57%) | | 股東權益合計 | 51,315 | 50,565 | 750 (1.48%) | 33,353 | 17,962 (53.85%) | | 每股淨值(台幣元) | 115.06 | 113.73 | 1.33 (1.17%) | 74.32 | 40.74 (54.82%) |
2026 Q1主要財務比率
| 主要財務比率 | 2026.3.31 | 2025.12.31 | QoQ | 2025.3.31 | YoY |
|---|---|---|---|---|---|
| 流動比率 | 120.56% | 129.42% | -8.86% (-6.85%) | 122.48% | -1.92% (-1.57%) |
| 速動比率 | 74.36% | 77.86% | -3.50% (-4.50%) | 64.97% | 9.39% (14.45%) |
| 負債比率 | 70.84% | 68.42% | 2.42% (3.54%) | 70.17% | 0.67% (0.95%) |
| 應收帳款周轉天數 | 22 | 26 | (4) (-15.38%) | 25 | (3) (-12.00%) |
| 存貨週轉天數 | 132 | 146 | (14) (-9.59%) | 194 | (62) (-31.96%) |
2026 Q1現金流量表
- 幣別: 新台幣百萬元 (NT$ millions)
- 備註: 上述財務數據均經會計師查核/核閱簽證 | 會計科目 | 2026.Q1 | 2025.Q1 | YoY | | :------- | :------ | :------ | :---- | | 折舊與攤銷 | 1,015 | 761 | 254 (33.38%) | | 營業活動之淨現金流(出)入 (A) | 13,674 | 5,705 | 7,969 (139.68%) | | 資本支出(B) | (3,657) | (1,359) | (2,298) (169.09%) | | 投資活動之淨現金流(出)入 | (6,675) | (2,213) | (4,462) (201.63%) | | 籌資活動之淨現金流(出)入 | 1,212 | 473 | 739 (156.24%) | | 期末現金餘額 | 67,880 | 34,492 | 33,388 (96.80%) | | 自由現金流量 (A)-(B) | 10,017 | 4,346 | 5,671 (130.49%) |
Business Segments
奇鋐科技營收組合(產品別)
- 幣別: 新台幣百萬元 (NTD in Million)
- 產品類別:
- 散熱產品 (Thermal Products)
- 機箱產品 (Chassis Products)
- 系統及周邊產品 (System Assembly and Peripheral Products)
- 富世達(轉軸) (Fositek(Hinge))
| 產品別 Product | Q1'26 Amount | Q1'26 % | Q4'25 Amount | Q4'25 % | QoQ Amount | QoQ % | Q1'25 Amount | Q1'25 % | YoY Amount | YoY % |
|---|---|---|---|---|---|---|---|---|---|---|
| 散熱產品Thermal | 31,191 | 63.60% | 24,153 | 50.56% | 7,038 | 29.14% | 13,789 | 59.10% | 17,402 | 126.20% |
| 機箱產品Chassis | 9,913 | 20.20% | 9,943 | 20.81% | (30) | -0.30% | 3,629 | 15.55% | 6,284 | 173.16% |
| 小計散熱與機箱Subtotal for TMG | 41,104 | 83.80% | 34,096 | 71.37% | 7,008 | 20.55% | 17,418 | 74.65% | 23,686 | 135.99% |
| 系統及周邊產品System Assembly and Peripheral Products | 3,750 | 7.70% | 9,703 | 20.31% | (5,953) | -61.35% | 3,663 | 15.70% | 87 | 2.38% |
| 富世達(轉軸) Fositek(Hinge) | 4,184 | 8.50% | 3,976 | 8.32% | 208 | 5.23% | 2,252 | 9.65% | 1,932 | 85.79% |
| 總合併營收Total Revenue | 49,038 | 100.00% | 47,775 | 100.00% | 1,263 | 2.64% | 23,333 | 100.00% | 25,705 | 110.17% |
奇鋐科技營收組合(應用別)
- 幣別: 新台幣百萬元 (NTD in Million)
- 應用類別:
- Server & Networking
- Telecom
- 3C
- others
- System intergation
- Fositek(Hinge)
| 產品別 Product | Q1'26 Amount | Q1'26 % | Q4'25 Amount | Q4'25 % | QoQ Amount | QoQ % | Q1'25 Amount | Q1'25 % | YoY Amount | YoY % |
|---|---|---|---|---|---|---|---|---|---|---|
| Server & Networking | 32,544 | 66.40% | 25,597 | 53.58% | 6,947 | 27.14% | 10,613 | 45.48% | 21,931 | 206.64% |
| Telecom | 2,939 | 6.00% | 2,128 | 4.45% | 811 | 38.11% | 2,496 | 10.70% | 443 | 17.75% |
| 3C | 4,920 | 10.00% | 5,570 | 11.66% | (650) | -11.67% | 3,558 | 15.25% | 1,362 | 38.28% |
| others | 701 | 1.40% | 801 | 1.68% | (100) | -12.48% | 751 | 3.22% | (50) | -6.66% |
| System intergation | 3,750 | 7.70% | 9,703 | 20.31% | (5,953) | -61.35% | 3,663 | 15.70% | 87 | 2.38% |
| Fositek(Hinge) | 4,184 | 8.50% | 3,976 | 8.32% | 208 | 5.23% | 2,252 | 9.65% | 1,932 | 85.79% |
| 總合併營收Total Revenue | 49,038 | 100.00% | 47,775 | 100.00% | 1,263 | 2.64% | 23,333 | 100.0% | 25,705 | 110.17% |
Products & Technologies
- 散熱產品 (Thermal Products)
- 機箱產品 (Chassis Products)
- 系統及周邊產品 (System Assembly and Peripheral Products)
- 富世達(轉軸) (Fositek(Hinge))
Clients & Markets
- Server & Networking
- Telecom
- 3C
- Other
- System intergation
- Fositek
Additional Data
奇鋐科技年度營收 CAGR
- 年度營收 (Annual Revenue):
- 2018: 29 (十億)
- 2019: 37 (十億)
- 2020: 40 (十億)
- 2021: 47 (十億)
- 2022: 56 (十億)
- 2023: 59 (十億)
- 2024: 72 (十億)
- 2025: 139 (十億)
- 營收CAGR: 25%
奇鋐科技年度EPS CAGR
- 年度EPS (Annual EPS):
- 2018: 2 (元)
- 2019: 2.7 (元)
- 2020: 5.4 (元)
- 2021: 8.2 (元)
- 2022: 11.8 (元)
- 2023: 14.1 (元)
- 2024: 21.2 (元)
- 2025: 49.2 (元)
- EPS CAGR: 58%
奇鋐科技年度毛利率 CAGR
- 年度毛利率 (Annual Gross Margin):
- 2018: 11.9%
- 2019: 11.8%
- 2020: 15.7%
- 2021: 17.7%
- 2022: 19.4%
- 2023: 20.9%
- 2024: 23.5%
- 2025: 25.8%
- 毛利率 CAGR: 12%
奇鋐科技近五年單季營收以及EPS
- 營收 (NT$億):
- 1Q21: 106
- 2Q21: 127
- 3Q21: 118
- 4Q21: 122
- 1Q22: 126
- 2Q22: 138
- 3Q22: 149
- 4Q22: 148
- 1Q23: 118
- 2Q23: 149
- 3Q23: 158
- 4Q23: 167
- 1Q24: 153
- 2Q24: 165
- 3Q24: 191
- 4Q24: 209
- 1Q25: 233
- 2Q25: 296
- 3Q25: 389
- 4Q25: 478
- 1Q26: 490
- 每股盈餘 (NT$):
- 1Q21: 1.53
- 2Q21: 2.25
- 3Q21: 2.42
- 4Q21: 2.01
- 1Q22: 2.11
- 2Q22: 3.10
- 3Q22: 3.51
- 4Q22: 3.06
- 1Q23: 2.85
- 2Q23: 3.18
- 3Q23: 3.72
- 4Q23: 4.36
- 1Q24: 4.08
- 2Q24: 5.08
- 3Q24: 6.02
- 4Q24: 6.03
- 1Q25: 8.28
- 2Q25: 10.30
- 3Q25: 13.67
- 4Q25: 16.92
- 1Q26: 20.17
奇鋐科技近五年度營收以及EPS
- 營業收入 (NT$億):
- Y2021: 473
- Y2022: 560
- Y2023: 592
- Y2024: 718
- Y2025: 1,396
- 每股盈餘 (NT$):
- Y2021: 8.21
- Y2022: 11.78
- Y2023: 14.11
- Y2024: 21.21
- Y2025: 49.17
奇鋐科技每季營收變化(產品別)
- 單位: NT$(百萬) | | Q1'25 | Q2'25 | Q3'25 | Q4'25 | Q1'26 | | :------------------- | :---- | :---- | :---- | :---- | :---- | | 散熱產品 | 13,789 | 17,710 | 24,557 | 24,153 | 31,191 | | 機箱產品 | 3,629 | 4,960 | 6,452 | 9,943 | 9,913 | | 系統及周邊產品 | 3,663 | 4,304 | 4,362 | 9,703 | 3,750 | | 富世達(轉軸) | 2,252 | 2,620 | 3,566 | 3,976 | 4,184 |
奇鋐科技每季營收變化(應用別)
- 單位: 數字以台幣十億表達 | Group | Product | 2026Q1 Revenue | 2026Q1 Ratio | 2025Q1 Revenue | 2025Q1 Ratio | YoY Diff. | YoY % growth | | :---- | :------ | :------------- | :----------- | :------------- | :----------- | :-------- | :----------- | | Thermal & Mechanical Group | Server | 32.5 | 66% | 10.6 | 45% | 21.9 | 207% | | | Telecom | 2.9 | 6% | 2.5 | 11% | 0.4 | 18% | | | 3C | 4.9 | 10% | 3.6 | 15% | 1.4 | 38% | | | Other | 0.7 | 1% | 0.8 | 3% | (0.1) | -7% | | TMG Total | TMG Total | 41.1 | 84% | 17.4 | 75% | 23.7 | 136% | | System intergation | SIG | 3.8 | 8% | 3.7 | 16% | 0.1 | 2% | | Fositek | Fositek | 4.2 | 9% | 2.3 | 10% | 1.9 | 86% | | Grand Total | Grand Total | 49.0 | 100% | 23.3 | 100% | 25.7 | 110% |