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AAEON Investor Presentation 2026
52586_rns_2026-05-13_ea903b3f-552c-4614-8bb8-4901a341ab48.pdf
Investor Presentation
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A+EON
Always Agile, Always Ahead.
研揚科技股份有限公司
2026年第一次法人說明會
2026.05.13 14:30PM
AMEON
免責聲明
合併報表係依據國際財務報導準則編制並經會計師查核簽證。
本資料除提供歷史信息外，部分內容若涉及未來業務機會的表述，因受到不確定因素風險及未知風險的影響，實際結果與表述內容可能不同，投資人應自行判斷與控制風險。
Always Agile, Always Ahead.
AMEON
議程
- 財務重點報告
- 營運回顧及業務展望
MEON
財務重點報告
AMZON
2026年第一季合併資產負債表
| 2026/3/31 | 2025/3/31 | |||
|---|---|---|---|---|
| 金額 | % | 金額 | % | |
| 流動資產 | 8,204,597 | 51% | 7,767,773 | 53% |
| 非流動資產 | 7,948,703 | 49% | 6,966,313 | 47% |
| 資產總計 | 16,153,300 | 100% | 14,734,086 | 100% |
| 流動負債 | 3,230,317 | 20% | 1,731,441 | 12% |
| 非流動負債 | 475,294 | 3% | 560,915 | 4% |
| 負債總計 | 3,705,611 | 23% | 2,292,356 | 16% |
| 歸屬於母公司業主之權益 | 10,445,657 | 65% | 10,379,607 | 70% |
| 非控制權益 | 2,002,032 | 12% | 2,062,123 | 14% |
| 權益總計 | 12,447,689 | 77% | 12,441,730 | 84% |
| 負債及權益總計 | 16,153,300 | 100% | 14,734,086 | 100% |
Always Agile, Always Ahead.
AMZON
2026年第一季合併綜合損益表
| 2026/1/1-2026/3/31 | 2025/1/1-2025/3/31 | Yoy% | |||
|---|---|---|---|---|---|
| 金額 | % | 金額 | % | ||
| 營業收入 | 2,410,208 | 100% | 1,958,385 | 100% | 23.07% |
| 營業成本 | (1,570,725) | -65% | (1,290,856) | -66% | 21.68% |
| 營業毛利 | 839,483 | 35% | 667,529 | 34% | 25.76% |
| 營業費用 | (629,844) | -26% | (537,849) | -27% | 17.10% |
| 營業利益 | 209,639 | 9% | 129,680 | 7% | 61.66% |
| 業外收支淨額 | 370,359 | 15% | 189,165 | 9% | 95.79% |
| 稅前淨利 | 579,998 | 24% | 318,845 | 16% | 81.91% |
| 所得稅費用 | (59,278) | -2% | (45,434) | -2% | 30.47% |
| 本期淨利 | 520,720 | 22% | 273,411 | 14% | 90.45% |
| 淨利歸屬於母公司業主 | 478,353 | 20% | 259,705 | 13% | 84.19% |
| 基本每股盈餘(元) | 3.81 | 2.07 |
單位：仟元(NTD)
Always Agile, Always Ahead.
MEON
營業績效
單位: 百萬(NTD)
單位: 百萬(NTD)
| 會計項目 | Q1-25 | Q2-25 | Q3-25 | Q4-25 | Q1-26 |
|---|---|---|---|---|---|
| 營業收入 | 1,958 | 2,102 | 2,306 | 2,260 | 2,410 |
| 營業利益 | 130 | 180 | 173 | 150 | 210 |
| 稅後淨利 | 273 | 2 | 229 | 310 | 521 |
| EPS(元) | 2.07 | -0.17 | 1.54 | 2.18 | 3.81 |
Always Agile, Always Ahead.
MEON
銷售區域別
Region (2026Q1-Q1)
Region (2025Q1-Q1)
Always Agile, Always Ahead.
AMEON
營運回顧及業務展望
9
MEON
譜收及成長
Always Agile, Always Ahead.
MAEON
2025 區域營收分佈
| Region | N. America | Europe | Asia & Emerging Countries | China | HQ Direct |
|---|---|---|---|---|---|
| Growth % | 45% | 20% | 25% | 91% | -23% |
Always Agile, Always Ahead.
AECON
2025 產品組合
| SBU | Industrial Mother Board | Embedded Mother Board | UP (Developer Board) | Box PC & AI Edge | Network Appliance | Rugged Tablet & Panel PC | Others |
|---|---|---|---|---|---|---|---|
| Growth % | 11% | 26% | 84% | 115% | 26% | 5% | 11% |
Always Agile, Always Ahead.
MEON
2025 AI Revenue
Always Agile, Always Ahead.
ALEON
Taiwan Key IPC Players - 2025
| Year Company | 2025 YTD Q4 | 2024 YTD Q4 | Rank | G/R | 2024 Y | G/R | 2023 Y | G/R | 2022 Y | G/R | 2021 Y |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AAEON | 86.25 | 71.86 | 1 | 20% | 71.9 | -11% | 80.7 | -3% | 83.5 | 32% | 63.5 |
| Advantech | 706.59 | 597.71 | 2 | 18% | 597.7 | -7% | 645.7 | -6% | 687.9 | 17% | 586.2 |
| AD-link | 117.31 | 101.50 | 3 | 16% | 101.5 | -11% | 114.1 | -3% | 117.2 | 21% | 96.7 |
| Avalue | 84.94 | 76.03 | 4 | 12% | 76.0 | -8% | 82.3 | 4% | 78.8 | 59% | 49.5 |
| NEXCOM | 57.02 | 54.21 | 5 | 5% | 54.2 | -6% | 57.7 | -27% | 79.2 | 17% | 67.8 |
| Axiomtek | 70.19 | 68.93 | 6 | 2% | 68.9 | 3% | 67.0 | 1% | 66.2 | 31% | 50.7 |
| iBase | 53.60 | 52.67 | 7 | 2% | 52.7 | -12% | 60.0 | -12% | 67.9 | 16% | 58.5 |
| Ennoconn | 1,425.59 | 1,470.52 | 8 | -3% | 1,470.5 | 21% | 1,218.2 | 1% | 1,204.5 | 25% | 960.8 |
| IEI | 65.13 | 68.40 | 9 | -5% | 68.4 | -10% | 75.9 | -5% | 79.7 | 28% | 62.4 |
Always Agile, Always Ahead.
MEON
營運狀況 – 2026 Q1
Always Agile, Always Ahead.
MEON
產品組合 - 2026 Q1
| SBU | Applied Computing | Embedded Computing | UP (Developer Board) | Smart Platform | Others |
|---|---|---|---|---|---|
| Growth % | -11% | 45% | 60% | 39% | 131% |
Always Agile, Always Ahead.
AMEON
Edge AI 正加速成長
Always Agile, Always Ahead.
AMEON
Edge AI 落地應用
Always Agile, Always Ahead.
MEON
Edge AI 落地應用
Always Agile, Always Ahead.
AECON
Ecosystem Collaboration
End User
Smart Retail
Smart City
Industrial Automation
Transportation
Healthcare
Silicon Vendor
intel. AMD NVIDIA
Qualcomm NLP Rockchip
AXELERA HAILLO DEEPX
ISV
Al Vision
Video Analytics
Robotics Software
Edge AI Platform
Automation Software
Peripheral
RealSense e-con Systems
Think Systems Think e-con
D3 Embedded StereoLabs* LEOPARD
TRADING
Always Agile, Always Ahead.
ALEON
Always Agile, Always Ahead.
「永遠敏捷，始終引領」
研揚始終走在科技前沿，確保客戶在競爭中始終領先。
MEON
In Summary...
- 傳統IPC 市場
- 穩定成長
- 成長機會: 醫療、網通、智慧製造
- 人工智慧市場
- 快速成長
- 成長機會: 半導體、機器人、軍事、交通、AI Agent
- CPU & Memory/Storage
- 低階CPU佔比不大，影響有限
- Memory/Storage - 去年提早備貨加上母公司華碩協助，缺貨衝擊較小
- 漲價部分由客戶吸收
Always Agile, Always Ahead.
THANK YOU
AAEON
Always Agile, Always Ahead.
www.aaeon.com
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