奇鋐科技 (AVC) 2026Q2 法說會簡報
Company Overview
AVC (Asia Vital Components Co., Ltd.)
Financial Highlights
2026 Q2 單季綜合損益表 (Quarterly Income Statement)
幣別為新台幣百萬元 (Currency: NTD millions)
| 會計科目 (Account Item) | 2026.Q2 | 2026.Q1 | QoQ (Change) | QoQ (%) | 2025.Q2 | YoY (Change) | YoY (%) |
|---|---|---|---|---|---|---|---|
| 營業收入 (Operating Revenue) | 49,121 | 49,038 | 83 | 0.17% | 29,595 | 19,526 | 65.98% |
| 營業毛利 (Gross Profit) | 15,999 | 14,597 | 1,402 | 9.60% | 7,224 | 8,775 | 121.47% |
| 營業毛利率 (Gross Margin) | 32.57% | 29.77% | 2.80% | 9.41% | 24.41% | 8.16% | 33.43% |
| 營業淨利 (Operating Income) | 13,478 | 12,019 | 1,459 | 12.14% | 5,095 | 8,383 | 164.53% |
| 營業淨利率 (Operating Income Margin) | 27.44% | 24.51% | 2.93% | 11.95% | 17.21% | 10.23% | 59.44% |
| 稅前淨利 (Income Before Tax) | 13,935 | 11,979 | 1,956 | 16.33% | 5,896 | 8,039 | 136.35% |
| 母公司稅後淨利 (Net Income Attributable to Owners of Parent) | 9,567 | 7,916 | 1,651 | 20.86% | 3,997 | 5,570 | 139.35% |
| 淨利率 (Net Income Margin) | 19.48% | 16.14% | 3.34% | 20.69% | 13.51% | 5.97% | 44.19% |
| 每股盈餘(台幣元) (EPS (NTD)) | 24.37 | 20.17 | 4.20 | 20.82% | 10.30 | 14.07 | 136.60% |
* 上述財務數據均經會計師核閱簽證;幣別為新台幣百萬元
2026 Q2 綜合損益表 (H1 Income Statement)
幣別為新台幣百萬元 (Currency: NTD millions)
| 會計科目 (Account Item) | H1'2026 | H1'2025 | YoY (Change) | YoY (%) |
|---|---|---|---|---|
| 營業收入 (Operating Revenue) | 98,159 | 52,927 | 45,232 | 85.46% |
| 營業毛利 (Gross Profit) | 30,596 | 13,252 | 17,344 | 130.88% |
| 營業毛利率 (Gross Margin) | 31.17% | 25.04% | 6.13% | 24.48% |
| 營業淨利 (Operating Income) | 25,497 | 9,455 | 16,042 | 169.67% |
| 營業淨利率 (Operating Income Margin) | 25.97% | 17.86% | 8.11% | 45.41% |
| 稅前淨利 (Income Before Tax) | 25,914 | 10,517 | 15,397 | 146.40% |
| 母公司稅後淨利 (Net Income Attributable to Owners of Parent) | 17,483 | 7,211 | 10,272 | 142.45% |
| 淨利率 (Net Income Margin) | 17.81% | 13.62% | 4.19% | 30.76% |
| 每股盈餘(台幣元) (EPS (NTD)) | 44.54 | 18.58 | 25.96 | 139.72% |
* 上述財務數據均經會計師核閱簽證;幣別為新台幣百萬元
2026 Q2 單季營業外收入及支出 (Quarterly Non-Operating Income and Expenses)
幣別為新台幣百萬元 (Currency: NTD millions)
| 會計科目 (Account Item) | 2026.Q2 | 2026.Q1 | QoQ (Change) | QoQ (%) | 2025.Q2 | YoY (Change) | YoY (%) |
|---|---|---|---|---|---|---|---|
| 淨利息收入(支出) (Net Interest Income (Expense)) | 255 | (10) | 265 | -2650.00% | 34 | 221 | 650.00% |
| 投資收益(損失) (Investment Income (Loss)) | (20) | (6) | (14) | 233.33% | (42) | 22 | -52.38% |
| 處分固定資產收益(損失) (Gain (Loss) on Disposal of Fixed Assets) | (11) | (20) | 9 | -45.00% | (8) | (3) | 37.50% |
| 匯兌收益(損失) (Foreign Exchange Gain (Loss)) | 49 | (305) | 354 | -116.07% | 689 | (640) | -92.89% |
| 資產減損 (Asset Impairment) | 6 | (18) | 24 | -133.33% | (41) | 47 | -114.63% |
| 其他 (Other) | 178 | 319 | (141) | -44.20% | 169 | 9 | 5.33% |
| 合計 (Total) | 457 | (40) | 497 | -1242.50% | 801 | (344) | -42.95% |
* 上述財務數據均經會計師核閱簽證;幣別為新台幣百萬元
2026 Q2 營業外收入及支出 (H1 Non-Operating Income and Expenses)
幣別為新台幣百萬元 (Currency: NTD millions)
| 會計科目 (Account Item) | H1'2026 | H1'2025 | YoY (Change) | YoY (%) |
|---|---|---|---|---|
| 淨利息收入(支出) (Net Interest Income (Expense)) | 245 | 2 | 243 | 12150.00% |
| 投資收益(損失) (Investment Income (Loss)) | (26) | (87) | 61 | -70.11% |
| 處分固定資產收益(損失) (Gain (Loss) on Disposal of Fixed Assets) | (32) | (40) | 8 | -20.00% |
| 匯兌收益(損失) (Foreign Exchange Gain (Loss)) | (256) | 759 | (1,015) | -133.73% |
| 資產減損 (Asset Impairment) | (12) | (54) | 42 | -77.78% |
| 其他 (Other) | 498 | 482 | 16 | 3.32% |
| 合計 (Total) | 417 | 1,062 | (645) | -60.73% |
* 上述財務數據均經會計師核閱簽證;幣別為新台幣百萬元
2026 Q2 簡明資產負債表 (Condensed Balance Sheet)
幣別為新台幣百萬元 (Currency: NTD millions)
| 會計科目 (Account Item) | 2026.6.30 | 2026.3.31 | QoQ (Change) | QoQ (%) | 2025.6.30 | YoY (Change) | YoY (%) |
|---|---|---|---|---|---|---|---|
| 現金及銀行存款 (Cash and Bank Deposits) | 77,715 | 67,880 | 9,835 | 14.49% | 32,944 | 44,771 | 135.90% |
| 應收票據/帳款 (Notes/Accounts Receivable) | 9,488 | 11,406 | (1,918) | -16.82% | 7,770 | 1,718 | 22.11% |
| 存貨 (Inventory) | 57,874 | 50,968 | 6,906 | 13.55% | 42,305 | 15,569 | 36.80% |
| 流動資產 (Current Assets) | 149,870 | 135,871 | 13,999 | 10.30% | 89,718 | 60,152 | 67.05% |
| 不動產,廠房及設備淨額 (Property, Plant and Equipment, Net) | 23,818 | 20,943 | 2,875 | 13.73% | 14,211 | 9,607 | 67.60% |
| 非流動資產 (Non-Current Assets) | 44,707 | 40,122 | 4,585 | 11.43% | 24,925 | 19,782 | 79.37% |
| 資產總額 (Total Assets) | 194,577 | 175,993 | 18,584 | 10.56% | 114,643 | 79,934 | 69.72% |
| 短期銀行借款 (Short-term Bank Loans) | 19,007 | 17,608 | 1,399 | 7.95% | 13,323 | 5,684 | 42.66% |
| 應付票據/帳款 (Notes/Accounts Payable) | 53,027 | 48,857 | 4,170 | 8.54% | 33,497 | 19,530 | 58.30% |
| 流動負債 (Current Liabilities) | 118,878 | 112,699 | 6,179 | 5.48% | 72,627 | 46,251 | 63.68% |
| 長期銀行借款 (Long-term Bank Loans) | 7,735 | 7,190 | 545 | 7.58% | 3,547 | 4,188 | 118.07% |
| 非流動負債 (Non-Current Liabilities) | 13,573 | 11,979 | 1,594 | 13.31% | 7,944 | 5,629 | 70.86% |
| 負債總額 (Total Liabilities) | 132,451 | 124,678 | 7,773 | 6.23% | 80,571 | 51,880 | 64.39% |
| 歸屬於母公司業主之權益 (Equity Attributable to Owners of Parent) | 55,197 | 45,165 | 10,032 | 22.21% | 29,648 | 25,549 | 86.17% |
| 股東權益合計 (Total Equity) | 62,126 | 51,315 | 10,811 | 21.07% | 34,072 | 28,054 | 82.34% |
| 每股淨值(台幣元) (Net Asset Value per Share (NTD)) | 140.57 | 115.06 | 25.51 | 22.17% | 76.38 | 64.19 | 84.04% |
* 上述財務數據均經會計師核閱簽證;幣別為新台幣百萬元
2026 Q2 主要財務比率 (Key Financial Ratios)
| 主要財務比率 (Key Financial Ratios) | 2026.6.30 | 2026.3.31 | QoQ (Change) | QoQ (%) | 2025.6.30 | YoY (Change) | YoY (%) |
|---|---|---|---|---|---|---|---|
| 流動比率 (Current Ratio) | 126.07% | 120.56% | 5.51% | 4.57% | 123.53% | 2.54% | 2.06% |
| 速動比率 (Quick Ratio) | 76.39% | 74.36% | 2.03% | 2.73% | 63.85% | 12.54% | 19.64% |
| 負債比率 (Debt Ratio) | 68.07% | 70.84% | -2.77% | -3.91% | 70.28% | -2.21% | -3.14% |
| 應收帳款周轉天數 (Days Sales Outstanding) | 20 | 22 | (2) | -9.09% | 27 | (7) | -25.93% |
| 存貨週轉天數 (Days Inventory Outstanding) | 145 | 132 | 13 | 9.85% | 174 | (29) | -16.67% |
2026 Q2 現金流量表 (Cash Flow Statement)
幣別為新台幣百萬元 (Currency: NTD millions)
| 會計科目 (Account Item) | H1'2026 | H1'2025 | YoY (Change) | YoY (%) |
|---|---|---|---|---|
| 折舊與攤銷 (Depreciation and Amortization) | 2,158 | 1,501 | 657 | 43.77% |
| 營業活動之淨現金流(出)入 (A) (Net Cash Flow from Operating Activities (A)) | 26,291 | 9,543 | 16,748 | 175.50% |
| 資本支出(B) (Capital Expenditure (B)) | (7,112) | (3,209) | (3,903) | 121.63% |
| 投資活動之淨現金流(出)入 (Net Cash Flow from Investing Activities) | (11,639) | (4,740) | (6,899) | 145.55% |
| 籌資活動之淨現金流(出)入 (Net Cash Flow from Financing Activities) | 2,958 | 1,176 | 1,782 | 151.53% |
| 期末現金餘額 (Cash and Cash Equivalents at End of Period) | 77,715 | 32,944 | 44,771 | 135.90% |
| 自由現金流量 (A)-(B) (Free Cash Flow (A)-(B)) | 19,179 | 6,334 | 12,845 | 202.79% |
* 上述財務數據均經會計師核閱簽證;幣別為新台幣百萬元
Business Segments
奇鋐科技營收組合(產品別) (Revenue Mix by Product)
幣別: 新台幣百萬元 (Currency: NTD in Million)
| 產品別 (Product) | 1H'26 Amount | 1H'26 % | 1H'25 Amount | 1H'25 % | YoY Amount | YoY % |
|---|---|---|---|---|---|---|
| 散熱產品 (Thermal Products) | 61,820 | 62.98% | 31,499 | 59.51% | 30,321 | 96.26% |
| 機箱產品 (Chassis Products) | 20,062 | 20.44% | 8,589 | 16.23% | 11,473 | 133.58% |
| 小計散熱與機箱 Subtotal for TMG | 81,882 | 83.42% | 40,088 | 75.74% | 41,794 | 104.26% |
| 系統及周邊產品 (System Assembly and Peripheral Products) | 8,353 | 8.51% | 7,967 | 15.05% | 386 | 4.84% |
| 富世達(轉軸) Fositek(Hinge) | 7,924 | 8.07% | 4,872 | 9.21% | 3,052 | 62.64% |
| 總合併營收 Total Revenue | 98,159 | 100.00% | 52,927 | 100.00% | 45,232 | 85.46% |
1H'26 Revenue Mix by Product:
- 散熱產品 (Thermal Products): 63.0%
- 機箱產品 (Chassis Products): 20.4%
- 系統及周邊產品 (System Assembly and Peripheral Products): 8.5%
- 富世達(轉軸) Fositek(Hinge): 8.1%
1H'25 Revenue Mix by Product:
- 散熱產品 (Thermal Products): 59.5%
- 機箱產品 (Chassis Products): 16.2%
- 系統及周邊產品 (System Assembly and Peripheral Products): 15.1%
- 富世達(轉軸) Fositek(Hinge): 9.2%
奇鋐科技每季營收變化(產品別) (Quarterly Revenue Change by Product)
NT$(百萬) (NTD (Millions))
| Product | Q1'25 | Q2'25 | Q3'25 | Q4'25 | Q1'26 | Q2'26 |
|---|---|---|---|---|---|---|
| 散熱產品 (Thermal Products) | 13,789 | 17,711 | 24,557 | 24,153 | 31,191 | 30,629 |
| 機箱產品 (Chassis Products) | 3,629 | 4,960 | 6,452 | 9,943 | 9,913 | 10,149 |
| 系統及周邊產品 (System Assembly and Peripheral Products) | 3,663 | 4,304 | 4,362 | 9,703 | 3,750 | 4,603 |
| 富世達(轉軸) (Fositek(Hinge)) | 2,252 | 2,620 | 3,566 | 3,976 | 4,184 | 3,740 |
奇鋐科技營收組合(應用別) (Revenue Mix by Application)
幣別: 新台幣百萬元 (Currency: NTD in Million)
| 產品別 (Product/Application) | 1H'26 Amount | 1H'26 % | 1H'25 Amount | 1H'25 % | YoY Amount | YoY % |
|---|---|---|---|---|---|---|
| Server & Networking | 64,919 | 66.14% | 25,621 | 48.41% | 39,298 | 153.38% |
| Telecom | 5,937 | 6.05% | 5,158 | 9.76% | 779 | 15.10% |
| 3C | 9,394 | 9.57% | 7,838 | 14.81% | 1,556 | 19.85% |
| others | 1,632 | 1.66% | 1,471 | 2.78% | 161 | 10.94% |
| System intergation | 8,353 | 8.51% | 7,967 | 15.05% | 386 | 4.84% |
| Fositek(Hinge) | 7,924 | 8.07% | 4,872 | 9.21% | 3,052 | 62.64% |
| 總合併營收 Total Revenue | 98,159 | 100.00% | 52,927 | 100.00% | 45,232 | 85.46% |
1H'26 Revenue Mix by Application:
- Server & Networking: 66.1%
- 3C: 9.6%
- System intergation: 8.5%
- Fositek(Hinge): 8.1%
- Telecom: 6.0%
- others: 1.7%
1H'25 Revenue Mix by Application:
- Server & Networking: 48.4%
- System intergation: 15.1%
- 3C: 14.8%
- Fositek(Hinge): 9.8%
- Telecom: 9.2%
- others: 2.8%
奇鋐科技每季營收變化(應用別) (Quarterly Revenue Change by Application)
數字以台幣十億表達 (Numbers expressed in NTD billions)
| Product | 2026Q2 Revenue | 2026Q2 Ratio | 2025Q2 Revenue | 2025Q2 Ratio | Diff. | YoY % growth |
|---|---|---|---|---|---|---|
| Server | 32.4 | 66% | 15.0 | 51% | 17.4 | 116% |
| Telecom | 3.0 | 6% | 2.7 | 9% | 0.3 | 13% |
| 3C | 4.5 | 9% | 4.3 | 14% | 0.2 | 5% |
| Other | 0.9 | 2% | 0.7 | 2% | 0.2 | 29% |
| TMG Total | 40.8 | 83% | 22.7 | 77% | 18.1 | 80% |
| SIG | 4.6 | 9% | 4.3 | 15% | 0.3 | 7% |
| Fositek | 3.7 | 8% | 2.6 | 9% | 1.1 | 43% |
| Grand Total | 49.1 | 100% | 29.6 | 100% | 19.5 | 66% |
Additional Data
奇鋐科技年度營收 CAGR (Annual Revenue CAGR)
- 年度營收 (Annual Revenue)
- 2018: 29 (十億 NTD)
- 2019: 37 (十億 NTD)
- 2020: 40 (十億 NTD)
- 2021: 47 (十億 NTD)
- 2022: 56 (十億 NTD)
- 2023: 59 (十億 NTD)
- 2024: 72 (十億 NTD)
- 2025: 139 (十億 NTD)
- 營收CAGR (Revenue CAGR): 25%
奇鋐科技年度EPS CAGR (Annual EPS CAGR)
- 年度 EPS (Annual EPS)
- 2018: 2 (元 NTD)
- 2019: 2.7 (元 NTD)
- 2020: 5.4 (元 NTD)
- 2021: 8.2 (元 NTD)
- 2022: 11.8 (元 NTD)
- 2023: 14.1 (元 NTD)
- 2024: 21.2 (元 NTD)
- 2025: 49.2 (元 NTD)
- EPS CAGR: 58%
奇鋐科技年度毛利率 CAGR (Annual Gross Margin 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 (Gross Margin CAGR): 12%
奇鋐科技近五年單季營收以及EPS (Quarterly Revenue and EPS - Last Five Years)
單季營收及EPS (Quarterly Revenue & EPS)
| Quarter | 營業收入(NT$億) (Operating Revenue (NT$ Billion)) | 每股盈餘(NT$) (EPS (NT$)) |
|---|---|---|
| 1Q21 | 106 | 1.53 |
| 2Q21 | 127 | 2.25 |
| 3Q21 | 118 | 2.42 |
| 4Q21 | 122 | 2.01 |
| 1Q22 | 126 | 2.11 |
| 2Q22 | 138 | 3.10 |
| 3Q22 | 149 | 3.51 |
| 4Q22 | 148 | 3.06 |
| 1Q23 | 118 | 2.85 |
| 2Q23 | 149 | 3.18 |
| 3Q23 | 158 | 3.72 |
| 4Q23 | 167 | 4.36 |
| 1Q24 | 153 | 4.08 |
| 2Q24 | 165 | 5.08 |
| 3Q24 | 191 | 6.02 |
| 4Q24 | 209 | 6.03 |
| 1Q25 | 233 | 8.28 |
| 2Q25 | 296 | 10.30 |
| 3Q25 | 389 | 13.67 |
| 4Q25 | 478 | 16.92 |
| 1Q26 | 490 | 20.17 |
| 2Q26 | 491 | 24.37 |
奇鋐科技近五年度營收以及EPS (Annual Revenue and EPS - Last Five Years)
年度營收及EPS (Annual Revenue & EPS)
| Year | 營業收入(NT$億) (Operating Revenue (NT$ Billion)) | 每股盈餘(NT$) (EPS (NT$)) |
|---|---|---|
| Y2021 | 473 | 8.21 |
| Y2022 | 560 | 11.78 |
| Y2023 | 592 | 14.11 |
| Y2024 | 718 | 21.21 |
| Y2025 | 1,396 | 49.17 |
奇鋐科技每季營收變化(應用別) (Quarterly Revenue Change by Application - Chart Data)
(NTD Billions)
| Quarter | Server | Telecom | 3C | Other |
|---|---|---|---|---|
| Q1'24 | 4.7 | 2.6 | 3.6 | 0.4 |
| Q2'24 | 5.5 | 2.1 | 3.0 | 0.5 |
| Q3'24 | 7.0 | 2.2 | 3.0 | 0.8 |
| Q4'24 | 8.4 | 1.9 | 2.6 | 0.7 |
| Q1'25 | 10.6 | 2.5 | 2.5 | 0.8 |
| Q2'25 | 15.0 | 2.7 | 4.3 | 0.7 |
| Q3'25 | 21.0 | 2.5 | 6.6 | 0.9 |
| Q4'25 | 25.6 | 2.1 | 5.6 | 0.8 |
| Q1'26 | 32.5 | 2.9 | 4.9 | 0.7 |
| Q2'26 | 32.4 | 3.0 | 4.5 | 0.9 |
免責宣言 (Disclaimer)
報告內容係依現有資訊而做成,其中的財務或相關資訊可能包含一些對本公司及其子公司未來前景的說明,這些說明易受重大的風險和不確定性因素影響,致使最後結果與原先的說明迥異,是本公司特此聲明,本報告中的內容,僅為資訊流通之目的而公佈,並非投資建議,本公司不對報告內容的正確性、完整性或任何使用本報告內容所產生的損害負任何責任。
(The content of this report is based on existing information, and the financial or related information contained therein may include forward-looking statements regarding the future prospects of the Company and its subsidiaries. These statements are subject to significant risks and uncertainties, which may cause actual results to differ materially from those originally stated. The Company hereby declares that the content of this report is published solely for the purpose of information dissemination and is not investment advice. The Company assumes no responsibility for the accuracy, completeness, or any damages arising from the use of the content of this report.)