Core Viewpoint -津上机床中国预计中期公司拥有人应占溢利5.02亿元，同比增长约48%，显著超出行业平均增长水平，成为机床行业复苏进程中的核心领跑者 [1] Company Performance -截至发稿，津上机床中国股价上涨6.8%，报33.94港元，成交额2306.79万港元 [1] -公司预计中期盈利同比增长48%，达到5.02亿元 [1] Industry Position -中金指出，津上机床中国在机床行业复苏中处于领先地位 [1] -公司第一大下游为汽车零部件，受益于资本开支红利期 [1] Future Growth Potential -公司已与行业头部液冷设备企业达成合作意向，预计2026年相关业务可实现营收贡献，成为继汽车零部件领域后的第二增长曲线 [1] -2025年9月，津上机床中国单月累计回购公司股份205.2万股，回购金额达6211万元，显示管理层对公司未来经营前景的信心 [1]

Core Viewpoint - Tsugami Machine Tool China (01651) has seen a significant stock price increase, with a rise of over 7%, currently trading at 33.94 HKD, reflecting strong market confidence following a positive earnings forecast [1] Financial Performance - The company has issued a profit warning, expecting a mid-term profit attributable to shareholders of 502 million HKD, representing a year-on-year growth of approximately 48% [1] - This projected profit growth significantly exceeds the average growth rate in the machine tool industry, positioning the company as a key leader in the industry's recovery [1] Business Development - The primary downstream market for the company is automotive parts, benefiting from a capital expenditure boom [1] - The company has established a cooperation intention with leading liquid cooling equipment firms, anticipating that this segment will contribute to revenue by 2026, marking a second growth curve following automotive parts [1] Share Buyback Activity - In September 2025, the company repurchased 2.052 million shares, amounting to 62.11 million HKD [1] - The ongoing share buyback reflects the management's strong confidence in the company's future operational prospects and recognition of its core technological capabilities and industry development opportunities [1]