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） 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 （股份代號：1651） 變更香港主要營業地點的地址 及 變更開曼群島主要股份過戶登記處及註冊辦事處 津上精密機床（中國）有限公司（「本公司」）董事會（「董事會」）謹此宣佈： 卓佳證券登記有限公司仍為本公司在香港的股份過戶登記分處。本公司的電 話、傳真號碼及網站也將維持不變。 承董事會命 津上精密機床（中國）有限公司 主席及行政總裁兼執行董事 唐東雷博士 香港，二零二五年一月九日 Vistra (Cayman) Limited P.O. Box 31119 Grand Pavilion Hibiscus Way, 802 West Bay Road, Grand Cayman KY1-1205 Cayman Islands 於本公告 ...

津 上 精 密 機 床 （中 國）有 限 公 司 (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） （Stock Code 股份代號：1651） Precision Tsugami (China) Corporation Limited – Notice of publication of Interim Report 2024 (the "Current Corporate Communication") The English and Chinese versions of the Company's Current Corporate Communications are now available on the Company's website at www.tsugami.com.cn and the website of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") at www.hkexnews.hk respe ...

Precision Tsugami (China) Corporation Limited 津 上 精 密 機 床 （中國）有 限 公 司 NOTIFICATION LETTER 通知信函 (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） （Stock Code 股份代號：1651） Dear Non-registered Shareholder(s)(Note 1) , 13 December 2024 Precision Tsugami (China) Corporation Limited (the "Company") - Notification of publication of Interim Report 2024 (the "Current Corporate Communication") The English and Chinese versions of the Company's Current Corporate Communications are available on ...

Financial Performance - Revenue for the six months ended 30 September 2024 amounted to approximately RMB1,978,056,000, representing a 32.4% increase compared to the same period last year[17] - Gross profit reached approximately RMB634,943,000, a 53.3% increase year-on-year[18] - Net profit attributable to shareholders was approximately RMB340,036,000, up 53.7% compared to the same period in 2023[18] - Basic earnings per share increased by 55.2% to RMB0.90[19] - Gross profit margin improved by 4.4 percentage points to 32.1%[17] - Net profit margin increased by 2.4 percentage points to 17.2%[17] - Profit before tax grew by 50.7% to RMB491,491,000[17] - Group's sales revenue and net profit increased by approximately 32.4% and 53.7% YoY to approximately RMB1,978,056,000 and RMB340,036,000 respectively[28] - Gross profit margin increased by approximately 4.4 percentage points to approximately 32.1% compared with the same period last year[28] - Net profit margin increased by approximately 2.4 percentage points to approximately 17.2% compared with the same period last year[28] - Basic earnings per share during the Period under Review was approximately RMB0.90 (same period of last year: RMB0.58)[30] - Total revenue for the six months ended 30 September 2024 was RMB1,978,056,000, a 32.4% increase compared to the same period last year[34][35] - Gross profit increased by 53.3% to RMB634,943,000, with gross profit margin rising 4.4 percentage points to 32.1%[40][45] - Profit for the six months ended 30 September 2024 increased by 53.7% to approximately RMB340,036,000, up by approximately RMB118,778,000 compared to the same period last year[60] - Revenue for the six months ended 30 September 2024 increased to RMB 1,978,056 thousand, up 32.4% from RMB 1,494,386 thousand in the same period in 2023[152] - Gross profit rose to RMB 634,943 thousand, a 53.3% increase compared to RMB 414,077 thousand in 2023[152] - Profit before tax grew to RMB 491,491 thousand, up 50.7% from RMB 326,039 thousand in the previous year[152] - Net profit attributable to owners of the parent increased to RMB 340,036 thousand, a 53.7% rise from RMB 221,258 thousand in 2023[152] - Basic and diluted earnings per share increased to RMB 0.90, up from RMB 0.58 in the same period last year[152] - Profit before tax for the six months ended September 30, 2024, was RMB 491,491,000, up from RMB 326,039,000 in the same period in 2023[162] - Revenue from the sale of goods increased to RMB 1,974,920 thousand, up from RMB 1,491,153 thousand in the same period last year[182] - Total revenue for the six months ended 30 September 2024 was RMB 1,978,056 thousand, compared to RMB 1,494,386 thousand in 2023[182] Market and Industry Trends - Domestic CNC machine tools industry downtrend slowed down and almost hit bottom in Q3 2023, with significant market recovery since March 2023[28] - The demand for machine tools in the manufacturing industry has begun to pick up, expected to enter a new growth cycle[69] - The Group remains confident in the development prospects of CNC machine tools in China, aiming to achieve higher annual results for FY2025 compared to the previous year[73] - The company remains confident in the development prospects of CNC machine tools in China, aiming for full-year performance in FY2025 to exceed the previous year[76] Operational Highlights - The company is the largest foreign-branded CNC machine tool manufacturer in the Chinese market[2] - Products are primarily sold in China, with additional sales to Japan, Europe, the US, and Southeast Asia[3] - The company specializes in high-end CNC machine tools, including precision lathes, machining centers, and grinding machines[3] - Group proactively adjusted product pricing strategy and increased investment in research and development[31] - New plant of the fifth factory in Pinghu completed construction and passed completion acceptance in August, to be put into operation as an assembly plant for turret machines in the second half of this financial year[31] - Precision Tsugami Anhui continued to increase parts and components processing categories to expand its machining capacity of parts and components[31] - Precision lathes sales increased by RMB455,982,000 (36.1%), contributing the most to revenue growth[34][35] - The company invested approximately RMB130 million in two new plants, expected to increase production capacity by 3,000 to 4,000 units of CNC precision machine tools[63] - The Group expects to increase production capacity by 3,000 to 4,000 units of CNC precision machine tools with the new plant in Pinghu[74] - The company expects to increase production capacity by 3,000 to 4,000 units of CNC precision machine tools with the new Pinghu factory operational in October[76] - The company plans to enhance production efficiency and expand capacity to strengthen its competitive advantage[76] - The company will continue to improve cost efficiency and introduce new models that better meet market and customer demands[76] - The company's primary business is the manufacture and sale of high precision CNC machine tools[167] - The Group operates in a single reportable segment, manufacturing and selling high-precision CNC machine tools[179] Expenses and Costs - Selling and distribution expenses increased by 22.3% to RMB93,057,000, accounting for 4.7% of total revenue[42][47] - Administrative expenses rose by 58.0% to RMB85,633,000, representing 4.3% of total revenue[49][50] - Other income and gains decreased by RMB12,596,000 to RMB36,460,000, mainly due to lower bank interest income[43][46] - Other expenses decreased by RMB6,795,000 to RMB750,000, primarily due to reduced net exchange losses[51][53] - Net impairment loss on financial assets was RMB70,000, compared to a net gain of RMB1,326,000 in the same period last year[52][54] - Finance costs decreased to RMB402,000 from RMB606,000 due to lower interest from discounted bank bills[55] - Income tax expense increased by 44.5% to approximately RMB151,455,000 compared to the same period last year, driven by higher revenue and profit before tax[56][58] - Financing costs decreased to approximately RMB402,000 (compared to RMB606,000 last year) due to reduced bank bill discount interest[57] - Cost of inventories sold increased to RMB 1,343,219 thousand from RMB 1,079,349 thousand in the previous year[186] - Research and development costs rose significantly to RMB 46,566 thousand, up from RMB 16,848 thousand in 2023[186] - Employee benefit expenses, including wages and salaries, increased to RMB 189,147 thousand from RMB 147,732 thousand[186] - Income tax expense for the six months ended 30 September 2024 was RMB 151,455 thousand, compared to RMB 104,781 thousand in the same period in 2023, with current tax at RMB 135,537 thousand and deferred tax at RMB 15,918 thousand[191] Cash Flow and Financial Position - Cash and bank balances decreased to approximately RMB948,520,000 (from RMB1,111,063,000 as of 31 March 2024) due to lower net operating cash inflows, driven by increased inventories (RMB110,030,000) and trade receivables (RMB160,409,000)[60] - Net current assets increased to approximately RMB2,364,532,000 (from RMB2,156,810,000 as of 31 March 2024), with a current ratio of 4.3 times (up from 3.7 times)[60] - Capital expenditures for the six months ended 30 September 2024 amounted to approximately RMB31,466,000, primarily for factory buildings and parts processing equipment[60] - Capital commitments as of 30 September 2024 amounted to approximately RMB6,854,000 (down from RMB27,032,000 as of 31 March 2024)[63] - The company had no outstanding bank loans or other borrowings as of 30 September 2024[60] - Total non-current assets increased to RMB 679,019 thousand as of 30 September 2024, compared to RMB 669,217 thousand as of 31 March 2024[154] - Total current assets grew to RMB 3,075,948 thousand as of 30 September 2024, up from RMB 2,963,018 thousand as of 31 March 2024[154] - Net current assets increased to RMB 2,364,532 thousand as of 30 September 2024, compared to RMB 2,156,810 thousand as of 31 March 2024[154] - Total equity attributable to owners of the parent rose to RMB 2,900,224 thousand as of 30 September 2024, up from RMB 2,701,589 thousand as of 31 March 2024[154] - The company repurchased and cancelled ordinary shares, resulting in a reduction of RMB 5,819 thousand in treasury shares[158] - Total equity increased from RMB 2,528,893,000 to RMB 2,610,029,000 from April 1, 2023, to September 30, 2023, driven by retained profits growth[159] - Retained profits grew by RMB 221,258,000 during the period, reaching RMB 1,687,791,000 as of September 30, 2023[159] - Consolidated reserves increased from RMB 2,290,193,000 to RMB 2,611,793,000 as of September 30, 2024, compared to the same period in 2023[160] - Cash generated from operations for the six months ended September 30, 2024, was RMB 140,353,000, compared to RMB 378,663,000 in the same period in 2023[162] - Net cash flows from operating activities for the six months ended September 30, 2024, were RMB 9,462,000, significantly lower than RMB 277,677,000 in the same period in 2023[165] - Net cash flows from investing activities for the six months ended September 30, 2024, were RMB 247,254,000, compared to a net outflow of RMB 122,920,000 in the same period in 2023[165] - Cash and cash equivalents at the end of the period increased to RMB 788,391,000 from RMB 650,434,000 in the same period in 2023[165] - Dividends paid during the six months ended September 30, 2024, amounted to RMB 138,372,000, slightly lower than RMB 140,122,000 in the same period in 2023[165] - The company repurchased shares worth RMB 5,819,000 during the six months ended September 30, 2024[165] Shareholder and Ownership Information - The company's public float requirement is maintained at not less than 25% as per the Listing Rules[82] - Tang Donglei, Chairman and CEO, holds 350,000 shares directly, representing 0.09197% of issued shares[85] - Tang Donglei is deemed to have an interest in 75,000 shares through his spouse, representing 0.01970% of issued shares[85] - Li Zequn, Executive Director, holds 100,000 shares directly, representing 0.02627% of issued shares[85] - Mami Matsushita, Non-executive Director, holds 75,000 shares directly, representing 0.01970% of issued shares[85] - Kenji Yoneyama, Non-executive Director, holds 75,000 shares directly, representing 0.01970% of issued shares[85] - Tsugami Japan holds a 65.04% beneficial ownership in the company with 247,530,000 shares[93] - FIL Limited, Pandanus Associates Inc., and Pandanus Partners L.P. each hold a 7.01% interest in the company with 26,687,427 shares[93][94] - FMR LLC holds a 5.00% interest in the company with 19,049,425 shares[93][95] - Tang Donglei, Chairman and CEO, holds 39,000 shares in Tsugami Japan, representing 0.08125% ownership[88] - Takao Nishijima, Non-executive Director, holds 414,000 shares in Tsugami Japan, representing 0.8625% ownership[88] - Mami Matsushita, Non-executive Director, holds 115,900 shares in Tsugami Japan, representing 0.2414% ownership[88] - Kenji Yoneyama, Non-executive Director, holds 29,700 shares in Tsugami Japan, representing 0.0618% ownership[88] - As of 30 September 2024, no other substantial shareholders' interests were reported beyond those disclosed[99] Share Award Scheme - The company adopted a Share Award Scheme on 10 November 2023 to incentivize and retain talent[102] - The Share Award Scheme does not involve issuing new shares[103] - The company adopted a Share Award Scheme on November 10, 2023, aimed at incentivizing and retaining talent by allowing eligible participants to share in the company's strategic development[105] - The Share Award Scheme does not involve the issuance of new shares for awards[106] - The total number of awarded shares under the Scheme cannot exceed 6% of the company's issued share capital, which is 22,848,240 shares[109] - No single participant can receive more than 1% of the company's issued share capital under the Scheme[109] - The Scheme is valid for 10 years from the adoption date, with approximately 9 years remaining[109] - Awarded shares will vest according to the Scheme's terms, with no specified vesting period[115] - Vesting conditions require the grantee to remain a director or employee of the Group or related entity until the vesting date[115] - Details of the movements of awarded shares during the review period are provided in a table[118] - Tang Donglei, Director, was granted 200,000 unvested shares on 11 March 2024, with a vesting date of 11 March 2027 and a fair value of HKD 9.29 per share[120] - Wang Xiaojun, Director's spouse, was granted 75,000 unvested shares on 11 March 2024, with a vesting date of 11 March 2027 and a fair value of HKD 9.29 per share[120] - Li Zequn, Director, was granted 100,000 unvested shares on 11 March 2024, with a vesting date of 11 March 2027 and a fair value of HKD 9.29 per share[120] - Mami Matsushita, Director, was granted 75,000 unvested shares on 11 March 2024, with a vesting date of 11 March 2027 and a fair value of HKD 9.29 per share[120] - Kenji Yoneyama, Director, was granted 75,000 unvested shares on 11 March 2024, with a vesting date of 11 March 2027 and a fair value of HKD 9.29 per share[120] - Three other highest paid individuals were granted a total of 375,000 unvested shares on 11 March 2024, with a vesting date of 11 March 2027 and a fair value of HKD 9.29 per share[120] - 21 other employees of the Group were granted a total of 1,175,000 unvested shares on 11 March 2024, with a vesting date of 11 March 2027 and a fair value of HKD 9.29 per share[120] - Two related entity participants were granted a total of 150,000 unvested shares on 11 March 2024, with a vesting date of 11 March 2027 and a fair value of HKD 9.29 per share[120] - The total number of unvested shares granted during the reporting period was 2,225,000, with a fair value of HKD 9.29 per share[120] - As of 1 April 2024 and 30 September 2024, 20,623,240 awarded shares will be available for grant under the Scheme[126] Corporate Governance and Compliance - The Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers, and all Directors have complied with the required standards during the review period[139][141] - Dr. Tang Donglei has been serving as both the Chairman and CEO since April 1, 2022, a deviation from the Corporate Governance Code, but the Board believes this arrangement benefits the Company by ensuring consistent leadership and operational efficiency[140] - The audit committee reviewed the Group's unaudited condensed consolidated interim financial results for the six months ended September 30, 2024, including accounting principles, risk management, and internal controls[143][144] - Ernst & Young conducted an independent review of the unaudited condensed consolidated interim financial results in accordance with Hong Kong Standard on Review Engagement 2410[144][146] - The interim financial information for the six months ended September 30, 2024, was prepared in accordance with International Accounting Standard 34 (IAS 34), and no material discrepancies were identified[148][149] - The company adopted revised IFRSs for the first time in the current period's financial information, including amendments to IFRS 16, IAS 1, and IAS 7/IFRS 7[169][170][171] - Amendments to IFRS 16 did not impact the company's financial position or performance as it has no sale and leaseback transactions with variable lease payments[174] - The 2020 and 2022 amendments to IAS 1 clarified the classification of liabilities as current or non-current, but did not change the company's liability classification[174] - Amendments to IAS 7 and IFRS 7 require additional

Summary of Earnings Call Transcript Company Overview - The earnings call pertains to Jing Shang Precision Machine Tool (China) Co., Ltd. [1] Financial Performance - **Sales Revenue**: 1.98 billion RMB, a year-on-year increase of 32.4% [1] - **Gross Profit**: Increased by 53.3%, with a gross margin of 32.1%, up by 4.4 percentage points [1] - **Net Profit**: 340 million RMB, a year-on-year increase of 53.7%, with a net margin of 17.2%, up by 2.4 percentage points [1][2] - **Historical Performance**: Both gross and net margins have reached historical highs [2] Market Conditions - The market for CNC machine tools has entered a growth cycle since March 2023, with significant improvements noted in March and April, followed by slight declines in May and June, and a recovery in October [2][3] - Despite improved performance, competition remains intense, with price reductions becoming a common strategy among manufacturers [3][4] Company Strategy and Operations - The company has focused on cost reduction and efficiency improvements since 2018, which has positively impacted profitability [4][5] - **Financial Indicators**: - Current assets increased by 110 million RMB - Net assets increased by 200 million RMB - Current liabilities decreased by 76 million RMB - Total assets grew by 120 million RMB [5][6] Cash Flow and Inventory Management - Cash flow from operating activities decreased to 900,000 RMB due to increased receivables and inventory [6][7] - Inventory increased by 110 million RMB, but the company maintains that the inventory is manageable and necessary for meeting short delivery times [7][9] Product Sales Breakdown - **Precision Lathes**: Account for 86.8% of sales, with a year-on-year increase of 36.1% [10] - **Sales by Product Type**: - Automatic lathes: 65.2% of precision lathe sales, with a growth of 42.4% - Tool lathes: 21.6% of precision lathe sales, with a growth of 20.3% [10][11] - **Domestic vs. Overseas Sales**: Domestic sales increased by 34.9%, while overseas sales grew by 19.4% [12] Industry Trends - The automotive sector has become increasingly significant, contributing 40.4% of sales, with 12.4% from new energy vehicles [13] - Other sectors like 3C electronics have seen a decline in sales contribution, dropping below 10% [13] New Product Development - The company is focusing on optimizing existing products and introducing new models to meet market demands [14][15] - New industries targeted include humanoid robots and AI-related applications, with significant potential for growth [17][18] Future Outlook - The company anticipates challenges from economic pressures and international trade dynamics but remains optimistic about maintaining competitive advantages [32][34] - Plans to expand production capacity and improve operational efficiency are in place to prepare for future market demands [24][25] Dividend Policy - The company has increased its dividend from 0.4 HKD to 0.45 HKD, reflecting strong performance and cash reserves [27] Key Takeaways - The company has demonstrated strong financial growth amidst a competitive landscape, with a focus on cost management and product optimization - Future growth is expected to be driven by new product development and expansion into emerging markets, particularly in the automotive and AI sectors - The company remains vigilant about market conditions and is prepared to adjust strategies as necessary to maintain profitability and market share

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 截至二零二四年九月三十日止上半年之財務業績 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。 於二零二四年十一月十三日（香港時間中午十二時正），本公司控股股東日本津 上將公佈其截至二零二四年九月三十日止上半年之財務業績，並送交存檔。 https://www.tsugami.co.jp/ir/presentation/ 日本津上中期證券報告（日文）： https://www.tsugami.co.jp/ir/security-report/ 津上精密機床（中國）有限公司（「本公司」）根據證券 ...

第 1 頁 共 2 頁 v 1.1.1 EF001 EF001 免責聲明 | 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 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。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 津上精密機床（中國）有限公司 | | | 股份代號 | 01651 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 截至二零二四年九月三十日止六個月的中期股息 | | | 公告日期 | 2024年11月13日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 中期（半年期） | | 股息性質 | 普通股息 | | 財政年末 | 2025年3月31日 | | 宣派股息的報告期末 | 2024年9月30日 | | 宣派股息 | 每 股 0.45 HKD | | 股東批准日期 | 不適用 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 | 每 股 0. ...

Revenue and Profit Growth - Revenue for the six months ended September 30, 2024, increased to RMB 1,978,056 thousand, up 32.4% compared to RMB 1,494,386 thousand in the same period last year[2] - Net profit attributable to owners of the parent company grew to RMB 340,036 thousand, up 53.7% from RMB 221,258 thousand in the same period last year[2] - Revenue from customer contracts for the six months ended September 30, 2024, was RMB 1,978.056 million, compared to RMB 1,494.386 million for the same period in 2023, representing a 32.4% increase[14][15] - Sales revenue increased by 32.4% to approximately RMB 1,978,056 thousand, with net profit rising by 53.7% to RMB 340,036 thousand[27] - Profit for the period increased by 53.7% to approximately RMB 340,036 thousand, an increase of RMB 118,778 thousand compared to the same period last year[39] Gross Profit and Margin - Gross profit rose to RMB 634,943 thousand, a 53.3% increase from RMB 414,077 thousand in the prior year period[2] - Gross profit margin increased by 4.4 percentage points to 32.1%, and net profit margin rose by 2.4 percentage points to 17.2%[27] - Gross profit increased by 53.3% to RMB 634,943 thousand, driven by cost reduction and efficiency improvements[31] Earnings Per Share - Basic earnings per share increased to RMB 0.90, compared to RMB 0.58 in the prior year period[2] - Basic earnings per share for the six months ended September 30, 2024, were RMB 0.90, based on a profit attributable to ordinary equity holders of RMB 340.036 million, compared to RMB 0.58 for the same period in 2023[20] Assets and Liabilities - Total assets as of September 30, 2024, stood at RMB 3,075,948 thousand, up 3.8% from RMB 2,963,018 thousand as of March 31, 2024[3] - Inventory increased to RMB 968,719 thousand as of September 30, 2024, up 13.0% from RMB 857,075 thousand as of March 31, 2024[3] - Trade receivables and bills rose to RMB 1,141,877 thousand, a 16.3% increase from RMB 981,537 thousand as of March 31, 2024[3] - Cash and bank balances decreased to RMB 948,520 thousand, down 14.6% from RMB 1,111,063 thousand as of March 31, 2024[3] - Trade receivables and notes as of September 30, 2024, amounted to RMB 1,141.877 million, a 16.3% increase from RMB 981.537 million as of March 31, 2024[21] - Trade payables and notes as of September 30, 2024, were RMB 459.253 million, a 14% decrease from RMB 533.783 million as of March 31, 2024[23] - Net current assets increased to RMB 2,364,532 thousand, with a current ratio of 4.3 times, and capital expenditure for the period was approximately RMB 31,466 thousand, mainly for factory buildings and equipment[41] Equity and Dividends - Total equity attributable to owners of the parent company increased to RMB 2,900,224 thousand, up 7.4% from RMB 2,701,589 thousand as of March 31, 2024[5] - The company declared an interim dividend of HK$0.45 per ordinary share for the six months ended September 30, 2024, compared to HK$0.40 per ordinary share for the same period in 2023[18] - The company declared an interim dividend of HKD 0.45 per share for the six months ended September 30, 2024[25] - The company will pay an interim dividend of HK$0.45 per share for the six months ended September 30, 2024, an increase from HK$0.4 in 2023[51] Expenses and Costs - Sales and distribution expenses increased by 22.3% to RMB 93,057 thousand, mainly due to higher employee salaries and after-sales service costs[33] - Administrative expenses rose by 58.0% to RMB 85,633 thousand, primarily due to increased salaries and development costs[34] - Other expenses decreased by approximately RMB 6,795 thousand to RMB 750 thousand, mainly due to reduced net foreign exchange losses[35] - Net loss on financial assets impairment was approximately RMB 70 thousand, compared to a net gain of RMB 1,326 thousand in the same period last year, primarily due to increased provisions for receivables and notes[36] - Financing costs decreased to RMB 402 thousand from RMB 606 thousand, mainly due to reduced bank bill discount interest[37] - Income tax expenses increased by 44.5% to approximately RMB 151,455 thousand, driven by higher income and pre-tax profits[38] Production and Capacity Expansion - The company continued to expand production capacity, with the new factory in Pinghu completed and operational in the second half of the fiscal year[29] - The company invested approximately RMB 31,466 thousand in fixed assets, including RMB 20,046 thousand in buildings and RMB 5,669 thousand in machinery, to expand production capacity[43] - The company completed the construction of two new factory buildings in the fifth plant area, with a planned investment of approximately RMB 130 million, expected to increase production capacity by 3,000 to 4,000 CNC precision machine tools[43] Industry and Market Trends - The domestic CNC machine tool industry showed signs of recovery, with downstream manufacturing demand rebounding after a period of stagnation[26] - The company expects to enter a new growth cycle, with demand for CNC machine tools in industries such as new energy vehicles, industrial automation, and medical sectors expected to remain strong[47] Financial Reporting and Governance - The company adopted revised International Financial Reporting Standards (IFRS) during the period, including amendments to IFRS 16 and IAS 1, which did not have a material impact on the financial statements[10] - The company's audit committee has reviewed the unaudited condensed interim financial results for the six months ended September 30, 2024, and discussed audit, risk management, internal control, and financial matters with management[58] - The company's external auditor, Ernst & Young, has reviewed the unaudited condensed interim financial results in accordance with Hong Kong Standard on Review Engagements 2410[58] - The company has deviated from the Corporate Governance Code by having the same individual serve as both Chairman and CEO, but believes this arrangement benefits the company by ensuring consistent leadership and efficient execution of business strategies[56] - The company has adopted the Standard Code for Securities Transactions by Directors of Listed Issuers and confirmed that all directors have complied with the code during the review period[57] - The company maintained a public float of not less than 25% as required by the Listing Rules[54] - The company has not purchased, sold, or redeemed any of its listed securities during the six months ended September 30, 2024[53] - The company's financial condition and business operations have not undergone any significant changes since the publication of the latest annual report for the year ended March 31, 2024[50] - The company will suspend the registration of share transfers from December 9, 2024, to December 12, 2024, to determine eligibility for the interim dividend[52] - The company's interim report will be published on the Hong Kong Exchanges and Clearing Limited website and the company's website at an appropriate time[59] Product Sales Performance - Revenue from sales of high-precision CNC machine tools in mainland China for the six months ended September 30, 2024, was RMB 1,684.905 million, a 35% increase from RMB 1,248.770 million in the same period in 2023[15] - Overseas revenue for the six months ended September 30, 2024, was RMB 293.151 million, a 19.3% increase from RMB 245.616 million in the same period in 2023[15] - Precision lathe sales increased by 36.1% to RMB 1,717,388 thousand, contributing the most to revenue growth[30] - Precision machining center sales grew by 8.7%, and precision grinding machine sales increased by 5.4%[30]

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分內容而產生或因倚 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) 董事會會議召開日期 津上精密機床（中國）有限公司（「本公司」及其附屬公司，「本集團」）董事會（「董 事會」）茲通告謹定於二零二四年十一月十三日（星期三）舉行董事會會議，藉以考 慮及通過本集團截至二零二四年九月三十日止的六個月中期業績，及派發中期股 息（如有），以及處理其他事項。 承董事會命 津上精密機床（中國）有限公司 主席及行政總裁兼執行董事 唐東雷博士 香港，二零二四年十一月一日 於本公告日期，本公司的執行董事為唐東雷博士及李澤群博士；本公司的非執行 董事為西嶋尚生先生、松下真実女士及米山賢司先生；及本公司的獨立非執行董 事為岩渕聡博士、黃平博士及譚建波先生。 ...

Financial Performance - The net profit for FY2024 is RMB 800 million, an increase from RMB 700 million in FY2023, representing a growth of approximately 14.3%[5] - The total net assets of the company stand at RMB 3,000 million as of FY2024, up from RMB 2,702 million in FY2023[5] - The Group's sales revenue for the Year was approximately RMB 3,119,674,000, representing a decrease of approximately 22.9% compared to the previous financial year[12] - The net profit for the Year was approximately RMB 479,970,000, with a net profit margin of approximately 15.4%, reflecting a year-on-year increase of approximately 1.1 percentage points[12] - The Group's profit for the year decreased by approximately 17.1% from RMB579,188,000 to RMB479,970,000[41] - Total revenue decreased by approximately 22.9%, or approximately RMB 927,228,000, from approximately RMB 4,046,902,000 in the last financial year to approximately RMB 3,119,674,000[29] - Gross profit decreased by approximately 13.6% to approximately RMB 895,539,000, while gross profit margin increased from approximately 25.6% to approximately 28.7%[33] - Basic earnings per share during the Year under Review was approximately RMB1.26, down from approximately RMB1.52 in the last financial year[25] Market Position and Business Operations - The company has established itself as the largest foreign-branded CNC machine tool manufacturer in the Chinese market, with 21 years of rapid development since its inception in 2003[2] - The main business includes the customization, development, production, and sales of CNC high precision machine tools, primarily serving industries such as automobile parts, IT electronics, and industrial automation[9] - The company exports its products to various regions including Japan, South Korea, Europe, and the United States, in addition to its primary market in Mainland China[9] - The company has a strong presence in the supply chains of renowned global manufacturers in the automotive and electronics sectors[9] - The company’s products are recognized for their high quality and have gained wide acceptance in multiple industries, including medical instruments and construction machinery[3] Strategic Initiatives and Future Outlook - The company continues to explore market expansion opportunities and new product development to sustain its competitive edge[8] - The Company plans to continue investing in new models and proprietary models for special industries to capture potential segment-specific demand and boost sales[15] - The Group plans to continue expanding its product lines and production capacity while strengthening marketing and after-sales service systems[18] - The Group expects performance in 2024 to be significantly higher than 2023, driven by the robust supply chain and intelligent transformation in China's manufacturing industry[69] - Demand for CNC machine tools has been in a downturn throughout 2023, but signs of recovery were observed in March and April, indicating a potential new growth cycle[16] Challenges and Market Conditions - The domestic manufacturing industry is facing weak demand for CNC machine tools, leading to a price reduction strategy among machine tool companies[13] - The macroeconomic environment remains challenging, with insufficient demand for production equipment across the domestic manufacturing industry[22] - The real estate industry continued to decline, negatively impacting related upstream and downstream industries[22] - The new energy vehicle industry experienced slight growth but is currently undergoing capacity adjustments, leading to reduced demand for manufacturing equipment[22] - The domestic manufacturing industry's demand for CNC machine tools remained sluggish, influenced by a complex international situation and geopolitical conflicts[22] Corporate Governance and Management - Dr. Tang was appointed as the CEO and Chairman of the Company on April 1, 2022, and has been with the Group since November 2005, focusing on overall management and strategic planning[74] - The Company has a strong management team with members having backgrounds in precision machinery and engineering from prestigious institutions such as Harbin Institute of Technology and Kanazawa University[75][78] - The Company is focused on expanding its market presence and enhancing its product offerings through strategic management and operational excellence[74][76] - The governance structure has been reinforced with the establishment of various committees, including audit and remuneration committees, to ensure accountability[84] - The Board is committed to maintaining robust corporate governance practices across all departments to ensure satisfactory and sustainable returns to shareholders[96] Risk Management and Internal Controls - The Board acknowledges its responsibility for risk management and internal control systems, continuously supervising their effectiveness to manage business objective risks[174] - An independent professional risk advisor has been commissioned to develop a risk management framework and conduct risk assessments, identifying major risks faced by the Group[175] - The Group's risk management process includes ranking risks based on likelihood and severity, with appropriate internal control measures developed to mitigate these risks[175] - The Group's risk management and internal control systems are regularly reviewed by the Board and the Audit Committee to ensure effectiveness[179] ESG and Corporate Social Responsibility - The Group received the "Most Valuable Industrial Manufacturing Company" award at the 8th Golden Hong Kong Stocks Awards in December 2023[187] - The ESG Report aims to demonstrate the Group's performance in corporate governance, environmental protection, employment practices, operational practices, and community investment[188] - The Group's ESG governance structure includes a Board and an Audit Committee responsible for overseeing ESG matters, with at least one annual meeting to align ESG strategies with business objectives[189] - The Group values stakeholder opinions and maintains close communication to improve ESG performance and create greater value for society[200] Shareholder Engagement and Communication - The Company aims to keep investors updated with relevant information in a timely manner[167] - The Company has established a Shareholders' Communication Policy to promote effective communication with shareholders and stakeholders, ensuring satisfactory implementation and effectiveness[170] - Shareholders can propose candidates for election as Directors by submitting a written notice to the Company within a specified timeframe[164] - The Company encourages shareholders to submit proposals as early as practicable to facilitate necessary arrangements[163]