Group 1 - In January, South Korea's semiconductor exports reached $20.5 billion, a year-on-year increase of over 102%, indicating strong global semiconductor demand driven by the AI wave [1] - The price increase trend in the chip industry is expected to continue into the first half of 2026, with more companies likely to follow suit [1] - Major cloud service providers are adopting liquid cooling as the default standard for next-generation architectures due to the rising AI computing power and chip power consumption [1] Group 2 - Minth Group (00425) has received orders for AI server liquid cooling business from leading Taiwanese manufacturers, entering the global semiconductor supply chain, and plans to establish a joint venture with Fuman Technology to achieve mass production capability by the end of 2025 [2] - Tsugami Corporation China (01651) is entering the bulk procurement phase for AI server liquid cooling equipment, focusing on automatic lathe products with a competitive advantage in processing rapid liquid cooling joints, having signed equipment orders with dozens of clients, accounting for about 5% of domestic order value from January to September 2025 [2]

Core Viewpoint - Tsugami Machine Tool (01651) has shown significant financial growth, with a notable increase in revenue and profit margins, indicating its strong position in the high-end CNC machine tool market in China [1][5]. Financial Performance - For the nine months ending December 31, 2025, Tsugami's revenue in China reached 81.58 billion yen, representing a year-on-year increase of 28.3% [1][5]. - The segment profit for the same period was 22.534 billion yen, reflecting a year-on-year increase of 51.2% [1][5]. Market Position - Tsugami has established itself as one of the largest foreign brand CNC machine tool manufacturers in the Chinese market, focusing on high-end CNC machine tool manufacturing and sales [1][5]. Industry Insights - According to Guotai Junan Securities, the AI server liquid cooling industry is entering a phase of bulk equipment procurement, with Tsugami's automatic lathe products offering significant cost-performance advantages in processing rapid liquid cooling connectors [1][5]. - From January to September 2025, Tsugami has signed equipment orders with dozens of clients, accounting for approximately 5% of the domestic order value [1][5]. - The company has successfully applied multiple equipment models in processing key components for humanoid robots, including planetary roller screws, harmonic reducers, and planetary reducers [1][5].

Group 1 - The core viewpoint of the article highlights the significant financial performance of Tsugami Machine Tool China, with a stock price increase of over 7% following the announcement of its parent company's financial results [1] - Tsugami Machine Tool China's revenue for the nine months ending December 31, 2025, reached 81.58 billion Japanese yen, representing a year-on-year increase of 28.3% [1] - The segment profit for the same period was 22.534 billion Japanese yen, showing a substantial year-on-year growth of 51.2% [1] Group 2 - Tsugami Machine Tool China focuses on the manufacturing and sales of high-end CNC machine tools and has become one of the largest foreign brand CNC machine tool manufacturers in the Chinese market [1] - According to Guotai Junan Securities, the AI server liquid cooling industry is entering a phase of bulk equipment procurement, with Tsugami's automatic lathe products offering significant cost-performance advantages in processing rapid liquid cooling connectors [1] - The company has signed equipment orders with dozens of clients, accounting for approximately 5% of the domestic order value for the period from January to September 2025 [1] - Several of the company's devices have successfully been applied in processing key components for humanoid robots, including planetary roller screws, harmonic reducers, and planetary reducers [1]

Group 1 - The core viewpoint of the article highlights the significant financial performance of Tsugami Machine Tool (China) Co., Ltd., with a notable increase in revenue and profit for the nine months ending December 31, 2025 [1] - Tsugami Machine Tool (China) reported a revenue of 81.58 billion Japanese yen, representing a year-on-year increase of 28.3% [1] - The company's segment profit reached 22.534 billion Japanese yen, reflecting a year-on-year increase of 51.2% [1] Group 2 - Tsugami Machine Tool (China) has established itself as one of the largest foreign brand CNC machine tool manufacturers in the Chinese market, focusing on high-end CNC machine tool manufacturing and sales [1] - According to Guotai Junan Securities, the AI server liquid cooling industry is entering a phase of bulk equipment procurement, with the company having a competitive advantage in processing rapid liquid cooling joints through its automatic lathe products [1] - The company has signed equipment orders with dozens of clients, accounting for approximately 5% of the domestic order value for the period from January to September 2025 [1] - Several of the company's devices have been successfully applied in processing key components for humanoid robots, including planetary roller screw, harmonic reducer, and planetary reducer [1]

津上机床中国(01651)公布控股股东日本津上截至2025年12月31日止9个月的财务业绩，在中国，收入为 815.8亿日圆，按年同比增加28.3%。分部溢利为225.34亿日圆，按年同比增加51.2%。 ...

智通财经APP讯，津上机床中国(01651)公布控股股东日本津上截至2025年12月31日止9个月的财务业 绩，在中国，收入为815.8亿日圆，按年同比增加28.3%。分部溢利为225.34亿日圆，按年同比增加 51.2%。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 Precision Tsugami (China) Corporation Limited 津 上 精 密 機 床（中 國 ）有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1651） 內幕消息 控股股東 TSUGAMI CORPORATION 截至二零二五年十二月三十一日止九個月之財務業績 本公告乃根據證券及期貨條例第XIVA部及香港聯合交易所有限公司證券上市規 則第13.09(2)(a)條刊發。 於二零二六年一月三十日（香港時間中午十二時正），本公司控股股東日本津上 將公佈其截至二零二五年十二月三十一日止九個月之財務業績，並送交存檔。 津上精密機床（中國）有限公司（「本公司」）根據證券及期貨條例第XIVA部及香港 聯合交易所有限公司證券上市規則第13.09(2)(a)條刊發本公告。 本公司控股股東Tsugami Corporation（「日本津上」）為於東京證券交易所上市之公 司。於本 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不對因本公告全部或任何部份內容而產生或因倚賴 該等內容而引致之任何損失承擔任何責任。 Precision Tsugami (China) Corporation Limited 津 上 精 密 機 床（中 國 ）有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1651） (1)持續關連交易－ 重續技術許可協議、總銷售協議及總採購協議及訂立技術修訂契據 及 (2)關連交易－建議修訂不競爭契據 持續關連交易－重續技術許可協議、總銷售協議及總採購協議及訂立技術 修訂契據 茲提述本公司日期為二零一七年九月十二日之招股章程、本公司日期為二零一 八年一月二十二日、二零二零年二月十九日、二零二一年六月八日及二零二二 年六月二十七日之公告及本公司日期為二零一八年二月十二日、二零二零年三 月十一日、二零二一年六月三十日及二零二二年七月十八日之通函，內容有關 （其中包括）現有協議。 於二零一七年九月四日，本公司與日本津上訂立現有協議，初始年期為三年， 自二零一七年九月二十五日起至二零二零年三月三 ...

Core Viewpoint - Cathay Securities has given a "Buy" rating to Tsunam Machine Tool China (01651), predicting significant revenue and profit growth from FY2026 to FY2028, driven by strong product capabilities and customer channels in the machine tool industry [1] Group 1: Financial Performance - For the first half of FY2026, the company achieved a revenue of approximately 2.497 billion yuan, representing a year-on-year growth of 26.2% [1] - The net profit attributable to shareholders was 502 million yuan, with a year-on-year increase of 47.7% [1] - The gross margin was 34.6%, up by 2.5 percentage points, while the net profit margin reached 20.1%, an increase of 2.9 percentage points [1] Group 2: Market Opportunities - The AI liquid cooling sector is entering a phase of bulk equipment procurement, with the company having a competitive edge in processing rapid liquid cooling connectors [2] - From January to September 2025, the company signed equipment orders with dozens of clients, accounting for about 5% of domestic order value [2] Group 3: Strategic Developments - The company is actively expanding into new fields, particularly in humanoid robotics, driven by the growing demand for small precision components due to advancements in autonomous driving and AI applications [3] - Cost reduction and efficiency improvement measures have enhanced the product's cost-effectiveness and market competitiveness, with several devices successfully applied in processing key components for humanoid robots [3] - In the same period (January to September 2025), the company secured orders for various equipment types, including automatic lathes and external cylindrical grinding machines [3]

Core Viewpoint - Cathay Securities has given a "Buy" rating to Tsunamachine China (01651), predicting significant revenue and profit growth from FY2026E to FY2028E, driven by strong product capabilities and customer channels in the machine tool industry [1] Group 1: Financial Projections - Projected revenues for FY2026E, FY2027E, and FY2028E are expected to be 5.182 billion, 5.823 billion, and 6.562 billion CNY respectively [1] - Projected net profits for FY2026E, FY2027E, and FY2028E are expected to be 1.018 billion, 1.108 billion, and 1.263 billion CNY respectively [1] - The company achieved a revenue of approximately 2.497 billion CNY in the first half of FY2026, representing a year-on-year growth of 26.2% [1] Group 2: Market Position and Product Strength - Tsunamachine China specializes in high-end CNC machine tools, including precision lathes, machining centers, and grinding machines, widely used in high-precision processing fields such as automotive and 3C [1] - The company has a gross margin of 34.6%, which is an increase of 2.5 percentage points year-on-year, and a net profit margin of 20.1%, up by 2.9 percentage points year-on-year [1] Group 3: Growth Opportunities - The AI liquid cooling sector is entering a phase of bulk equipment procurement, with the company having a competitive edge in processing rapid liquid cooling connectors [2] - The company has signed equipment orders with dozens of clients in the AI liquid cooling sector, accounting for about 5% of domestic order value from January to September 2025 [2] - The demand for small precision components is increasing due to the rapid expansion of autonomous driving and AI applications, with the company actively developing humanoid robot-related business [3] - The company has successfully applied multiple devices in processing key components for humanoid robots, including planetary roller screws and harmonic reducers [3]