Business Overview
[[新光合纖]] (Shinkong Synthetic Fibers) 為[[新光集團]]成員，主要產品涵蓋化纖 (聚酯粒、長短纖、加工絲)、塑膠 (瓶用酯粒、[[工程塑膠]])及光電材料 ([[TAC膜]]、增亮膜)。公司積極布局高附加價值產品，如[[電動車]]用[[工程塑膠]]、環保回收聚酯及半導體級化學品。生產基地橫跨台灣桃園、中國杭州及泰國。營收比重聚酯事業約74%、光電事業約18%、金融證券約8%。
Supply Chain
上游 (石化原料):
- 原料: [[PTA]] (純對苯二甲酸)、[[EG]] (乙二醇)
中游 (製造):
- 化纖事業: 聚合、紡絲、加工，生產聚酯粒、POY、DTY
- 光電事業: [[TAC膜]]、增亮膜等光學薄膜製造
- 塑膠事業: 瓶用酯粒、[[工程塑膠]]
下游 (終端應用):
- 紡織: 下游織布及成衣廠
- 包裝: 飲料大廠 (寶特瓶原料)
- 電子/車用: 面板廠、[[電動車]]零組件廠
Customers and Suppliers
主要客戶
- 紡織: 下游織布及成衣廠
- 包裝: 飲料大廠 (寶特瓶原料)
- 電子/車用: 面板廠 ([[TAC膜]])、[[電動車]]零組件廠 ([[工程塑膠]])
主要供應商
- 原料: [[台塑]]集團 ([[PTA]])、國內外[[MEG]]供應商
Financial Tables
Valuation Metrics (Share price $15.70 as of 2026-03-26 | TTM through 2025-12-31 | Forward forecast through 2026-12-31)
| P/E (TTM) | Forward P/E | P/S (TTM) | P/B | EV/EBITDA |
|---|---|---|---|---|
| 13.19 | N/A | 0.65 | 0.61 | 12.31 |
Annual Financials (Last 3 Years)
| 2025-12-31 | 2024-12-31 | 2023-12-31 | |
|---|---|---|---|
| Revenue | 37979.14 | 44945.22 | 38976.97 |
| Gross Profit | 9157.66 | 9961.18 | 7000.52 |
| Gross Margin (%) | 24.11 | 22.16 | 17.96 |
| Selling & Marketing Exp | 1522.61 | 1502.75 | 1178.13 |
| R&D Exp | 595.13 | 583.81 | 478.13 |
| General & Admin Exp | 2831.25 | 2633.85 | 2303.31 |
| Operating Income | 4208.66 | 5240.76 | 3040.94 |
| Operating Margin (%) | 11.08 | 11.66 | 7.80 |
| Net Income | 1922.53 | 1705.92 | 764.41 |
| Net Margin (%) | 5.06 | 3.80 | 1.96 |
| Op Cash Flow | 1561.41 | -6547.25 | -5351.37 |
| Investing Cash Flow | -1514.38 | -3133.48 | -3571.78 |
| Financing Cash Flow | -1070.77 | 8843.07 | 8237.58 |
| CAPEX | -1102.40 | -1859.23 | -3532.51 |
Quarterly Financials (Last 4 Quarters)
| 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | |
|---|---|---|---|---|
| Revenue | 8692.50 | 9636.58 | 9608.82 | 10041.25 |
| Gross Profit | 2274.45 | 2488.19 | 2150.18 | 2244.84 |
| Gross Margin (%) | 26.17 | 25.82 | 22.38 | 22.36 |
| Selling & Marketing Exp | 316.83 | 370.88 | 439.20 | 395.70 |
| R&D Exp | 143.63 | 170.88 | 131.57 | 149.06 |
| General & Admin Exp | 803.50 | 707.05 | 643.72 | 676.97 |
| Operating Income | 1010.49 | 1239.38 | 935.68 | 1023.11 |
| Operating Margin (%) | 11.62 | 12.86 | 9.74 | 10.19 |
| Net Income | 362.16 | 1271.71 | -108.25 | 396.92 |
| Net Margin (%) | 4.17 | 13.20 | -1.13 | 3.95 |
| Op Cash Flow | -1970.01 | -3113.40 | 9024.37 | -2379.54 |
| Investing Cash Flow | -1075.96 | 2.04 | -577.44 | 136.98 |
| Financing Cash Flow | 3339.25 | 2639.37 | -9874.68 | 2825.29 |
| CAPEX | -380.99 | -209.61 | -246.21 | -265.59 |