
宏達電自2015年進軍VR市場以來,面臨研發成本高和市場未成熟的挑戰,透過出售不動產、團隊和專利等資產變現策略維持營運,並藉由此獲得的業外收益扭轉虧損。根據最新半年報,其總資產仍達388.6億元,顯示財務基礎堅實。歷年來,除2018年和2025年因資產處分獲利外,多年來核心業務持續虧損。
AI-generated summary
宏達電曾是智慧手機市場重要玩家,2011年股價曾達1300元台幣,市值突破兆元。但隨著國際競爭加劇,其手機業務從2013年起陷入虧損,2015年決定轉進VR領域,然而該市場發展緩慢,導致公司長期依賴資產處分來維持營運。
宏達電家底深厚。(資料照)
〔記者高嘉和/台北報導〕以智慧型手機起家的宏達電(HTC),2015年宣布正式切入VR(虛擬實境)市場。在面對研發成本投入過高、VR環境至今尚未成熟下,近年來採取活化資產、以空間換取時間的財務策略,也是就靠著「賣樓、賣團隊、賣專利」支撐轉型,並多次在業外收益的助攻下,扭轉本業虧損。根據宏達電最新半年報,帳上總資產仍達388.6億元,顯示家底仍深厚。
宏達電2011年站上1300元股王巔峰,市值衝破兆元台幣,但在手機市場遇逆風下,2013年即虧損,2014年雖然小賺,但2015年至今,除2018、2025年因處分專利、土地廠房等的挹注,當年出現獲利外,其餘年度都呈虧損。
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在智慧型手機本業赤字,以及VR研發成本過高下,宏達電2015年起啟動一連串資產處分以充實營運資金,包括2015年以60.6億元將桃園廠區 TY5大樓賣給英業達,處分利益約21億元;2017年以11億美元、約台幣330億元,將手機團隊售予給Google,直接讓出手機硬體研發主力,這筆交易推升宏達電2018年每股稅後盈餘(EPS)達到14.72元,順利轉虧為盈。
2019到2020年持續精簡非核心資產,以數億元人民幣出售上海土地使用權與廠房,撤出手機組裝製造的大規模固定成本;2025年1月以2.5億美元、約台幣81.9億元,將旗下的 XR(混合實境)研發團隊成員移轉至 Google,並將XR智慧財產權(IP)以非專屬授權方式授予Google使用,第二次與Google的交易,挹注宏達電EPS 9.83元。
同年,也將位於桃園、鶯歌等共17筆土地及建物出售給和碩,貢獻EPS約4.67元,二筆大筆交易下,2025年宏達電EPS 7.21元。
一手掌握經濟脈動 點我訂閱自由財經Youtube頻道
AI outlook — possibilities, not facts
宏達電將在未來12個月內繼續評估非核心資產的處分可能性
Likely · Within months

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