達運精密工業股份有限公司 (6120) 2026年法人說明會
Company Overview
公司基本資料 (Company Basic Information)
- 公司名稱: Darwin Precisions Corporation (達運精密工業股份有限公司)
- 股票代碼: 6120 (TAIEX)
- 營收額 (2025): 新台幣 171.1 億元
- 資本額 (2026): 新台幣 59.9 億元
- 員工人數 (2026/09平均值): 4,000人
- 研發實力: 研發團隊碩博士學歷佔59.5%，已核准全球專利745件 (專利累積申請1,171件，通過率64%)
- 業務項目: 製造服務、關鍵零組件、系統整合、醫療/光學解決方案
- 核心競爭力: 以精密製造服務為基礎，結合系統整合能力與跨領域研發資源，提供從設計、測試到量產的一站式技術支持。布局涵蓋光學、醫療、生技與智慧應用等多元領域，展現靈活應變與創新實力，打造穩健且具前瞻性的競爭優勢。
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- 製造服務 (Manufacturing Services)
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- 系統整合 (System Integration)
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- 多元佈局 (Diversified Layout)
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企業發展 (Corporate Development)
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多角化布局 (Diversified Layout)
- 1989: 輔祥實業成立，專注顯示器背光模組研發與生產。
- 2005: 達運精密成立，大陸第1個生產據點，專注背光模組生產。
- 2006: 輔德高分子成立，垂直整合LGP板材供應鏈。
- 2010: 景智電子成立，專注TV整機組裝設計(SET)。
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策略整併 (Strategic Mergers & Acquisitions)
- 2010: 輔祥實業合併奈普光電，發展NB背光模組事業。
- 2011: 達運精密合併景智電子，發展TV尺寸背光模組事業、整機組裝設計(SET)，並投資OLED關鍵零組件(FMM)研發。
- 2014: 輔祥實業合併景智電子，提供全方位背光技術和產品，涵蓋車用、NB、電視、GD和PID應用。
- 2015: 正式更名為達運精密工業。
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全方位價值整合 (Comprehensive Value Integration)
- 2017: 設立湖口廠，佈局OLED關鍵零組件(FMM)量產。
- 2020: 設立新技術室，佈局光學/機電/半導體及關鍵零組件開發。
- 2024: 轉投資企業：
- 新一智能 (Onexis Solution) - 智慧解決方案
- 微一生醫 (MicroDoctor Biomedical) - 生物醫療技術
- 遠近科技 (Vixora Technology) - 光學元件開發
- 晶至生醫 - 專業醫材代工
國際布局 (International Layout)
- 台灣: 新竹總部、大雅廠區
- 大陸: 吳江廠區、廈門廠區
- 韓國: 首爾
- 日本: 東京
- 泰國: 曼谷
- 美國: 加州
Financial Highlights
合併綜合損益表摘要 (Consolidated Statement of Comprehensive Income Summary) 單位:新台幣千元 (除每股盈餘(損失)外)
| 項目 (Item) | 115年第二季 (Q2 2026) | 季增減% (QoQ Change%) | 115年第一季 (Q1 2026) | 季增減% (QoQ Change%) | 114年第四季 (Q4 2025) |
|---|---|---|---|---|---|
| 銷貨淨額 (Net Sales) | 4,229,913 (100%) | (7%) | 4,526,331 (100%) | 12% | 4,053,636 (100%) |
| 營業成本 (Cost of Sales) | (4,058,234) (96%) | (7%) | (4,364,886) (96%) | 14% | (3,825,302) (94%) |
| 營業毛利 (Gross Profit) | 171,679 (4.1%) | 6% | 161,445 (3.6%) | (29%) | 228,334 (5.6%) |
| 營業費用 (Operating Expenses) | (383,021) (9.1%) | 46% | (263,110) (5.8%) | (9%) | (290,419) (7.2%) |
| 營業淨利(損) (Operating Income (Loss)) | (211,342) (5.0%) | (108%) | (101,665) (2.2%) | (64%) | (62,085) (1.5%) |
| 營業外收入及支出 (Non-operating Income and Expenses) | 1,178,974 (27.9%) | 2174% | 51,841 (1.1%) | (40%) | 86,310 (2.1%) |
| 稅前淨利(損) (Income (Loss) Before Tax) | 967,632 (22.9%) | 2042% | (49,824) (1.1%) | (306%) | 24,225 (0.6%) |
| 本期淨利(損) (Net Income (Loss) for the Period) | 944,903 (22.3%) | 1131% | (91,678) (2.0%) | (1131%) | (7,446) (0.2%) |
| 基本每股盈餘(損失)(元) (Basic EPS (Loss) (NTD)) | 1.57 | (0.15) | (0.02) | ||
| 營業淨利(損)+折舊攤銷 (Operating Income (Loss) + D&A) | 7,749 (0.2%) | (94%) | 135,873 (3.0%) | (19%) | 168,630 (4.2%) |
合併綜合損益表摘要 (半年) (Consolidated Statement of Comprehensive Income Summary - Half-Year) 單位:新台幣千元 (除每股盈餘(損失)外)
| 項目 (Item) | 115年上半年度 (H1 2026) | 114年上半年度 (H1 2025) | 增減% (Change%) |
|---|---|---|---|
| 銷貨淨額 (Net Sales) | 8,756,244 (100%) | 9,100,454 (100%) | (4%) |
| 營業成本 (Cost of Sales) | (8,423,120) (96%) | (8,684,293) (95%) | (3%) |
| 營業毛利 (Gross Profit) | 333,124 (3.8%) | 416,161 (4.6%) | (20%) |
| 營業費用 (Operating Expenses) | (646,131) (7.4%) | (536,551) (5.9%) | 20% |
| 營業淨利(損) (Operating Income (Loss)) | (313,007) (3.6%) | (120,390) (1.3%) | (160%) |
| 營業外收入及支出 (Non-operating Income and Expenses) | 1,230,815 (14.1%) | 86,313 (0.9%) | 1326% |
| 稅前淨利(損) (Income (Loss) Before Tax) | 917,808 (10.5%) | (34,077) (0.4%) | 2793% |
| 本期淨利(損) (Net Income (Loss) for the Period) | 853,225 (9.7%) | (82,570) (0.9%) | 1133% |
| 基本每股盈餘(損失)(元) (Basic EPS (Loss) (NTD)) | 1.42 | (0.12) | |
| 營業淨利(損)+折舊攤銷 (Operating Income (Loss) + D&A) | 143,622 (1.6%) | 330,785 (3.6%) | (57%) |
合併資產負債表摘要 (Consolidated Balance Sheet Summary) 單位:新台幣千元
| 項目 (Item) | 115.06.30 | 季增減% (QoQ Change%) | 115.03.31 | 季增減% (QoQ Change%) | 114.12.31 |
|---|---|---|---|---|---|
| 現金及約當現金 (Cash and Cash Equivalents) | 5,474,521 (31%) | 6% | 5,184,779 (31%) | 7% | 4,859,611 (30%) |
| 應收帳款 (Accounts Receivable) | 3,569,381 (21%) | 15% | 3,106,202 (18%) | 2% | 3,050,726 (19%) |
| 存貨 (Inventory) | 1,067,734 (6%) | 15% | 929,947 (6%) | (14%) | 1,084,038 (7%) |
| 按攤銷後成本衡量之金融資產-流動+非流動(1) (Financial Assets Measured at Amortized Cost - Current + Non-current(1)) | 1,440,477 (8%) | 1% | 1,420,977 (8%) | 28% | 1,110,844 (7%) |
| 短期借款或一年內到期之長期借款(a) (Short-term Borrowings or Long-term Borrowings Due within One Year(a)) | 33,017 (0%) | (1%) | 33,424 (0%) | (78%) | 150,097 (1%) |
| 長期借款 (Long-term Borrowings) | 1,066,280 (6%) | (8%) | 1,161,896 (7%) | 9% | 1,068,012 (7%) |
| 負債總額 (Total Liabilities) | 7,480,889 (43%) | (6%) | 7,961,602 (47%) | 9% | 7,287,157 (45%) |
| 權益總額 (Total Equity) | 9,917,676 (57%) | 11% | 8,937,811 (53%) | 1% | 8,810,204 (55%) |
| 資產總額 (Total Assets) | 17,398,565 (100%) | 3% | 16,899,413 (100%) | 5% | 16,097,361 (100%) |
關鍵財務比率 (Key Financial Ratios)
| 項目 (Item) | 115.06.30 | 季增減% (QoQ Change%) | 115.03.31 | 季增減% (QoQ Change%) | 114.12.31 |
|---|---|---|---|---|---|
| 應收帳款週轉天數(b) (Accounts Receivable Turnover Days) | 72 | 10% | 62 | (2%) | 64 |
| 存貨週轉天數(c) (Inventory Turnover Days) | 22 | 1% | 21 | (5%) | 26 |
| 應付帳款週轉天數(d) (Accounts Payable Turnover Days) | 85 | 7% | 78 | (3%) | 81 |
| 現金轉換循環(天) (Cash Conversion Cycle Days) | 9 | 4% | 5 | (4%) | 9 |
| 金融負債淨值比率(e) (Net Financial Debt to Equity Ratio) | 11% | (2%) | 13% | (0%) | 14% |
合併現金流量表摘要 (Consolidated Cash Flow Statement Summary) 單位:新台幣千元
| 項目 (Item) | 115年上半年度 (H1 2026) | 114年上半年度 (H1 2025) |
|---|---|---|
| 營業活動之現金流量 (Cash Flow from Operating Activities) | (207,601) | 726,157 |
| 稅前淨利(損) (Income (Loss) Before Tax) | 917,808 | (34,077) |
| 折舊及攤銷 (Depreciation and Amortization) | 456,629 | 451,175 |
| 營運資金變動 (Changes in Working Capital) | (1,582,038) | 309,059 |
| 投資活動之現金流量 (Cash Flow from Investing Activities) | 784,799 | (197,012) |
| 資本支出 (Capital Expenditures) | (557,341) | (203,950) |
| 處分不動產、廠房及設備價款 (Proceeds from Disposal of Property, Plant and Equipment) | 1,691,330 | 185 |
| 其他金融資產或投資(增)減(1) (Increase (Decrease) in Other Financial Assets or Investments(1)) | (335,506) | 12,307 |
| 籌資活動之現金流量 (Cash Flow from Financing Activities) | (153,549) | (278,052) |
| 銀行借款淨變動 (Net Change in Bank Borrowings) | (119,306) | (268,459) |
| 現金及約當現金增加(減少)數(2) (Net Increase (Decrease) in Cash and Cash Equivalents(2)) | 614,910 | (35,292) |
| 期末現金及銀行存款餘額 (Cash and Bank Deposits at End of Period) | 5,474,521 | 5,836,403 |
Recent Performance and Results
合併營業收入趨勢 (Consolidated Operating Revenue Trend) 單位:新台幣百萬元
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近二年單季營業收入趨勢表 (Quarterly Operating Revenue Trend for the Past Two Years)
- 113Q1: 4,998
- 113Q2: 5,253
- 113Q3: 6,003
- 113Q4: 4,618
- 114Q1: 4,755
- 114Q2: 4,345
- 114Q3: 3,951
- 114Q4: 4,054
- 115Q1: 4,526
- 115Q2: 4,230
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113年度~115年度營業收入 (Operating Revenue from 2024 to 2026)
- 113年度 (2024): 20,873
- 1Q: 4,998
- 2Q: 5,253
- 3Q: 6,003
- 4Q: 4,618
- 114年度 (2025): 17,106
- 1Q: 4,755
- 2Q: 4,345
- 3Q: 3,951
- 4Q: 4,054
- 115年度 (2026): 8,756 (H1 total)
- 1Q: 4,526
- 2Q: 4,230
- 113年度 (2024): 20,873
合併營業概況趨勢 (Consolidated Operating Overview Trend) 單位:新台幣千元
- 近二年單季營業淨利(損)與稅後淨利(損)趨勢表 (Quarterly Operating Income (Loss) and Net Income (Loss) Trend for the Past Two Years)
- 營業淨利(損) (Operating Income (Loss))
- 113Q1: ~ (100,000)
- 113Q2: ~ (50,000)
- 113Q3: ~ 50,000
- 113Q4: ~ (50,000)
- 114Q1: ~ (50,000)
- 114Q2: ~ (70,000)
- 114Q3: ~ (60,000)
- 114Q4: ~ (60,000)
- 115Q1: ~ (100,000)
- 115Q2: ~ (210,000)
- 稅後淨利(損) (Net Income (Loss) after Tax)
- 113Q1: ~ (140,000)
- 113Q2: ~ (5,000)
- 113Q3: ~ 50,000
- 113Q4: ~ (50,000)
- 114Q1: ~ (50,000)
- 114Q2: ~ (70,000)
- 114Q3: ~ (60,000)
- 114Q4: ~ (10,000)
- 115Q1: ~ (90,000)
- 115Q2: ~ 900,000
- 營業淨利(損) (Operating Income (Loss))
Business Segments
產品別合併營收佔比 (Consolidated Revenue Share by Product)
| 產品類別 (Product Category) | 2024 | 2025 | 2026H1 |
|---|---|---|---|
| Manufacturing Service | 91.14% | 96.40% | 97.14% |
| System Integration | 8.52% | 3.43% | 2.67% |
| Strategic Deployment | 0.34% | 0.17% | 0.19% |
產品類別說明 (Product Category Description)
- Manufacturing Service: MNT/NB/Car
- System Integration: Service, Onexis Solution, Vixora Technology
- Strategic Deployment: MicroDoctor Biomedical
Products & Technologies
達運精密 (Darwin Precisions)
- MNT (Monitor)
- 四邊無邊框/曲面高階產品布局 (Four-sided borderless/curved high-end product layout)
- 微結構導光技術降低能耗 ES9.0 (Micro-structure light guide technology to reduce energy consumption ES9.0)
- 工控背光 (Industrial Control Backlight)
- 高亮/Low power 背光技術開發 (High brightness/Low power backlight technology development)
- Medical/Gaming 背光顯示器應用 (Medical/Gaming backlight display applications)
- Car (Automotive)
- 可切換防窺技術 Privacy (Switchable privacy technology)
- 超薄/高亮/低耗能 Mini LED BLU (Ultra-thin/high brightness/low power Mini LED BLU)
轉投資企業產品與技術 (Products and Technologies from Invested Companies)
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Micro Doctor (微一生醫)
- 美妝醫療 (Beauty Medical)
- 微晶貼片 (Microcrystal patches)
- 可溶式微晶滾輪 (Soluble microcrystal rollers)
- 複合式微針晶眼/面膜 (Compound microneedle eye patches/masks)
- 生醫檢測 (Biomedical Detection)
- 器官晶片 (Organ-on-a-chip)
- 仿生模擬系統 (Biomimetic simulation system)
- 表面增強拉曼散射(SERS)檢測晶片 (Surface-enhanced Raman scattering (SERS) detection chips)
- 美妝醫療 (Beauty Medical)
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Onexis (新一智能)
- 智慧場域解決方案 (Smart Field Solutions)
- 智慧零售 (Smart Retail)
- 智慧交通 (Smart Transportation)
- 智慧客服 (Smart Customer Service)
- 智慧醫療 (Smart Healthcare)
- 智慧港灣 (Smart Harbors)
- 智慧電桿 (Smart Poles)
- 智慧場域解決方案 (Smart Field Solutions)
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Vixora Technology Corp. (遠近科技)
- 整合服務解決方案 (Integrated Service Solutions)
- Advanced Optoelectronics (先進光電)
- System Integration (系統整合)
- Customized Display Module (客製化顯示模組)
- 整合服務解決方案 (Integrated Service Solutions)
Outlook & Strategy
營運策略與方向 (Operating Strategy and Direction)
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優化核心業務:產品、市場與製造服務內容重新定義 (Optimize core business: Redefine product, market, and manufacturing service content)
- 差異化製造服務 (Differentiated Manufacturing Services):
- 由製造規模轉向技術差異化與高階製造服務為優先。
- 導入高階 MNT 製程技術，四邊無邊框與曲面顯示器應用以及低耗能 ES9.0。
- 車載領域: 透過防窺、高亮等領先技術，深化與Tier 1 車用客戶的合作。
- 強化工控背光板 (BLU) ODM 製造服務。
- 高附加價值的整合服務解決方案:遠近科技 (High-value-added Integrated Service Solutions: Vixora Technology):
- 提供專業顯示器、戶外高亮及節能顯示產品之設計、製造與系統整合服務，依據不同應用場域提供彈性、高附加價值的整合服務解決方案。
- 積極拓展美國及全球海外市場，聚焦戶外高亮顯示產品，擴大全球市場布局。
- 擴充整機ODM 產品組合，提供客製化產品整合服務。
- 差異化製造服務 (Differentiated Manufacturing Services):
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多元發展:聚焦新事業紮根與成長 (Diversified development: Focus on new business rooting and growth)
- 微一生醫 (MicroDoctor Biomedical):
- 將Darwin 精密微成型技術延伸至美妝生醫領域，及生物晶片系統(Biochip System Solutions)兩大核心平台，展現從研發、精密製造到量產的整合能力。
- 布局微針與生物晶片兩大平台:
- 微針醫美系列產品: 痘痘貼、微針貼片/面膜、微針滾輪。
- 器官晶片解決方案: 自動化液體處理系統、仿生器官晶片平台。
- 生物晶片檢測: 蘇丹紅快篩拉曼檢測平台。
- 品質管理認證: 通過QMS (醫療器材品質管理系統)，並預計於Q4'26 取得ISO 13485認證。
- 新一智能 (Onexis Solution):
- 智慧場域系統開發: 整合多元顯示裝置(LCD、EPD等)、前端作業系統與後台管理平台，並依場域需求導入感測器及AI技術，提供軟硬體整合之智慧場域解決方案。
- 戶外電子紙整合自供電解決方案，已通過日本客戶認證，應用於太陽能智慧公車站牌及大型廣告看板，拓展日本市場。
- 智慧電桿及交通解決方案，與合作夥伴共同導入政府智慧節點基建計畫，未來將在北、中、南等五縣市逐步完成。
- 微一生醫 (MicroDoctor Biomedical):
Additional Data
Safe Harbor Notice
- The presentation contains forward-looking statements regarding financial conditions, future expansion plans, and business strategies, which are subject to risks, uncertainties, and assumptions. The company undertakes no obligation to update or revise these statements, and actual results may differ materially from those anticipated.
Footnotes for Financial Statements
- (1) 按攤銷後成本衡量之金融資產-流動+非流動: 係理財目的承作3個月以上之定期存款。(Financial assets measured at amortized cost - current + non-current: refers to time deposits with a maturity of more than 3 months for financial management purposes.)
- (a) 短期借款係指一年內到期之附息或無息借款,含一年內到期之長期借款。(Short-term borrowings refer to interest-bearing or interest-free borrowings due within one year, including long-term borrowings due within one year.)
- (b) 推算全年之銷貨收入除以當季平均應收帳款,再以365天除算而得。(Accounts Receivable Turnover Days: Calculated by dividing annual sales revenue by average quarterly accounts receivable, then multiplying by 365 days.)
- (c) 推算全年之營業成本除以當季平均存貨,再以365天除算而得。(Inventory Turnover Days: Calculated by dividing annual cost of sales by average quarterly inventory, then multiplying by 365 days.)
- (d) 推算全年之營業成本除以當季平均應付帳款,再以365天除算而得。(Accounts Payable Turnover Days: Calculated by dividing annual cost of sales by average quarterly accounts payable, then multiplying by 365 days.)
- (e) (短期借款+長期借款)/權益總額。(Net Financial Debt to Equity Ratio: (Short-term borrowings + Long-term borrowings) / Total Equity.)
- (2) 現金及約當現金增加(減少)數: 包括營業活動、投資活動、籌資活動之現金流入(出),以及匯率影響數。(Net increase (decrease) in cash and cash equivalents: Includes cash inflows (outflows) from operating, investing, and financing activities, as well as exchange rate effects.)
Contact Information
- Website: https://www.darwinprecisions.com
- IR Email: ir@darwinprecisions.com