格隆汇9月29日丨津上机床中国(01651.HK)发布公告，2025年9月29日耗资130.6万港元回购4万股，回购 价格每股32.32-33港元。 ...

Core Viewpoint - The company,津上机床中国, announced a share buyback plan, indicating confidence in its financial position and future prospects [1] Group 1: Company Actions -津上机床中国 plans to repurchase 40,000 shares at a total cost of HKD 1.306 million [1] - The buyback price per share ranges from HKD 32.32 to HKD 33 [1]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 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） 呈交日期： 2025年9月29日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 01651 | 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | ...

Core Viewpoint - Tsugami Machine Tool China (01651) has seen a significant increase in stock price, rising over 8% and reaching 32.78 HKD, with a trading volume of 77.4634 million HKD, following the announcement of share buybacks and positive market outlook from CICC [1] Group 1: Company Performance - On September 26, Tsugami Machine Tool China announced a share buyback of 150,000 shares at a cost of 4.65614 million HKD [1] - Year-to-date, the company has conducted 48 buybacks, totaling 6.898 million shares and an aggregate amount of 151 million HKD [1] Group 2: Market Position and Outlook - CICC has initiated a "outperform industry" rating for the company, highlighting its strong competitive edge in the mid-to-high-end CNC lathe market [1] - The market has not fully recognized the growth potential in liquid cooling and robotics, which CICC views as significant opportunities for the company [1] - The company is actively expanding into AI liquid cooling connector processing, humanoid robot screw and reducer processing, indicating a strategic focus on emerging technologies [1] - Potential catalysts for growth include advancements in liquid cooling infrastructure and humanoid robot grinding machines [1]

Summary of Key Points Core Viewpoint - The company Tsunami Machine Tool China has been actively repurchasing its shares, indicating a strategy to enhance shareholder value amidst market fluctuations [2][3]. Share Buyback Details - On September 26, 2025, the company repurchased 150,000 shares at prices ranging from HKD 30.540 to HKD 31.660, totaling HKD 4.6561 million [2]. - The stock closed at HKD 30.380 on the same day, reflecting a decline of 5.71% with a total trading volume of HKD 63.2275 million [2]. - Year-to-date, the company has conducted 48 buybacks, acquiring a total of 6.898 million shares for a cumulative amount of HKD 151 million [2]. Historical Buyback Data - The buyback history includes various dates with specific details on the number of shares repurchased, highest and lowest prices, and total amounts spent [3]. - Notable buyback transactions include: - September 23, 2025: 70,000 shares at a maximum price of HKD 33.000, totaling HKD 2.3054 million [3]. - April 16, 2025: 635,000 shares at a maximum price of HKD 18.600, totaling HKD 11.6937 million [3]. - March 11, 2025: 800,000 shares at a maximum price of HKD 20.600, totaling HKD 16.3246 million [3].

Group 1 - The company, Tsugami Machine Tool (01651), announced a share buyback of 150,000 shares at a cost of HKD 4.65614 million on September 26, 2025 [1] - The buyback reflects the company's strategy to enhance shareholder value and confidence in its future prospects [1] - This transaction indicates the company's commitment to returning capital to shareholders amidst market conditions [1]

津上机床中国(01651)公布，2025年9月26日耗资465.614万港元回购15万股股份。 ...

格隆汇9月26日丨津上机床中国(01651.HK)发布公告，9月26日耗资465.61万港元回购15万股，回购价格 每股30.54-31.66港元。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 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） 呈交日期： 2025年9月26日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 01651 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | 已發行股份 ...

Investment Highlights - The company is covered for the first time by CICC with an "outperform" rating and a target price of HKD 38.60, based on a P/E valuation method corresponding to FY2026 at 13x P/E [1] - The company is a leading player in the high-end CNC lathe market, with strong internal competitiveness [1] Business Performance - Established in 2003, the company is rooted in China's manufacturing sector, with a stable growth in its main business. The company is primarily focused on lathes (Swiss-type lathes) and supplemented by machining centers and grinding machines [1] - For FY2025 (Q2 2024 to Q1 2025), the company expects revenue of CNY 4.262 billion and a net profit attributable to shareholders of CNY 780 million, representing year-on-year growth of 36.6% and 63% respectively [1] Market Position and Expansion - The metal cutting machine tools are long-lasting general-purpose equipment, with demand influenced by capital expenditures in the automotive and general manufacturing sectors. The cumulative growth rate of metal cutting output in China from January to August 2025 is 14.6%, indicating a recovery in the industry [1] - The CNC machine tool market in China is projected to be CNY 71.5 billion in 2024, with the company holding a market share of 4.1% (by revenue), ranking first in the lathe market [1] - In March 2025, the company announced the construction of its sixth factory in Pinghu, which is expected to add approximately 3,000 units of assembly capacity per year [1] Profitability and Dividends - The company has shown significant growth in profitability, maintaining a dividend payout ratio of over 40% since FY2023, reflecting stable operational quality [2] New Growth Areas - Since 2024, the company has actively expanded into AI liquid cooling connector processing and humanoid robot components, such as lead screws and reducers [2] - The market has not fully recognized the incremental potential of liquid cooling and robotics, but the company remains optimistic about the opportunities these sectors present [2] Earnings Forecast and Valuation - The company forecasts EPS of CNY 2.6 and CNY 3.1 for FY2026 and FY2027 respectively, with a CAGR of 22%. The target price of HKD 38.60 corresponds to a P/E of 13x for FY2026, with current prices reflecting P/E ratios of 11x and 10x for FY2026 and FY2027 respectively, indicating a potential upside of 17.1% [2]