Core Viewpoint - Tsugami Machine Tool China (01651) has seen its stock price rise over 6%, reaching a new historical high of 43.4 HKD, driven by strong financial performance and growth prospects in the high-end CNC machine tool market [1] Financial Performance - The controlling shareholder, Tsugami Japan, reported financial results for the nine months ending December 31, 2025, with revenue in China amounting to 81.58 billion JPY, representing a year-on-year increase of 28.3% [1] - The segment profit reached 22.534 billion JPY, reflecting a year-on-year increase of 51.2% [1] Market Position and Growth Prospects - 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 Haitong International's research report, the company's automotive-related business is expected to maintain steady growth from 2026 to 2028, with a recovery in the 3C business and rapid growth in new AI-related ventures [1] - The lathe business is projected to achieve stable growth of 20%-25%, driven by high-margin products such as precision lathes and grinding machines, positively impacting the company's profitability [1]

Core Viewpoint - Tsugami Machine Tool China (01651) has seen a significant stock price increase, reaching a new historical high, driven by strong financial performance and growth prospects in various business segments [1] Financial Performance - Tsugami's parent company, Tsugami Japan, reported a revenue of 81.58 billion JPY for the nine months ending December 31, 2025, representing a year-on-year increase of 28.3% [1] - The segment profit for the same period was 22.534 billion JPY, showing a year-on-year increase of 51.2% [1] Business Growth and 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] - The company is expected to maintain steady growth in its automotive-related business from 2026 to 2028, with a recovery in its 3C business and rapid growth in new AI-related ventures [1] - The lathe business is projected to achieve stable growth of 20%-25%, with new high-margin products such as precision lathes and grinding machines positively contributing to profitability [1]

Core Viewpoint - Tsugami Machine Tool China (01651) has seen its stock price rise over 6%, reaching a new historical high of 43.4 HKD, driven by strong financial performance and growth prospects in the high-end CNC machine tool market [1] Financial Performance - The controlling shareholder, Tsugami Japan, reported financial results for the nine months ending December 31, 2025, with revenue in China amounting to 81.58 billion JPY, representing a year-on-year increase of 28.3% [1] - The segment profit reached 22.534 billion JPY, reflecting a year-on-year increase of 51.2% [1] Market Position and Growth Prospects - 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 Haitong International's research report, the company's automotive-related business is expected to maintain steady growth from 2026 to 2028, with a recovery in the 3C business and rapid growth in new AI-related ventures [1] - The lathe business is projected to achieve stable growth of 20%-25%, driven by high-margin products such as precision lathes and grinding machines, positively impacting the company's profitability [1]

【申万北交所】再call铁拓机械（920706） 各位领导，我们今晚召开了铁拓机械电话会，公司管理层如数出席，和投资者交流了新的五轴数控机床团队的基 本情况。 核心要点如下： 1. 团队过来没有知识产权、竞业禁止问题； 2. 给北京科索(宇树关节代工厂)供货3年，厦门麦达供货5年，其中北京科索表达有几百台需求(50-100万/台），供 给厦门麦达的设备比公司原有设备的加工效率 【申万北交所】再call铁拓机械（920706） 各位领导，我们今晚召开了铁拓机械电话会，公司管理层如数出席，和投资者交流了新的五轴数控机床团队的基 本情况。 核心要点如下： 1. 团队过来没有知识产权、竞业禁止问题； 2. 给北京科索(宇树关节代工厂)供货3年，厦门麦达供货5年，其中北京科索表达有几百台需求(50-100万/台），供 给厦门麦达的设备比公司原有设备的加工效率高3倍。 强催化剂出现：民爆光电拟收购厦门麦达！ 民爆光电本周公告停牌收购厦门麦达，厦门麦达为鼎泰高科对标，是 家有日本技术底蕴的pcb钻针厂（由日本东芝泰珂洛设立），擅长0.20mm以下极小径微钻的研发与制造，供货胜宏 科技。 民爆光电的并购事项，将为铁拓机械的出 ...

Group 1 - The core message emphasizes the importance of implementing policies effectively to promote development and improve people's livelihoods, aligning with the directives from the central government [1] - The focus on intelligent manufacturing as a key direction for industrial technology transformation and optimization, highlighting the need for continuous investment in research and development to enhance competitiveness [2] - The promotion of clean heating solutions is recognized for its benefits to both public welfare and ecological protection, with an emphasis on regional energy coordination and the application of green technologies [2] Group 2 - The meeting with local government representatives aimed to gather feedback on the "Government Work Report" and the draft of the "14th Five-Year Plan," stressing the need for local governments to actively implement central policies and foster new growth points [5] - The call for high-quality development and the importance of planning significant initiatives and projects to strengthen domestic circulation and promote employment and income growth [5] - The emphasis on a pragmatic approach in local government planning, advocating for concise and effective special plans rather than overly ambitious ones [5]

● 新华社济南2月2日电（记者邹伟） 李强首先来到济南二机床集团有限公司，察看灯塔工厂生产线，详细询问减材制造、增材制造等工艺以 及新材料应用情况，对企业通过数智化转型持续提升竞争力表示赞许。李强说，智能制造是推动产业技 术变革和优化升级的主攻方向，要积极利用人工智能技术对生产制造全链条全周期进行重塑。在保持规 模优势基础上更加注重科技创新，推动技术产品迭代升级，提高自主可控能力。要根据相关产业特别是 新兴产业、未来产业发展需求，持续加大研发投入，强化软硬件协同，不断增加优质供给。在聊热入济 供热北线4号中继能源泵站，李强深入了解聊热入济、济南燃煤锅炉替代等工作进展，对当地供热"一张 网"建设予以肯定。李强指出，清洁供热既有利于民生保障，又有利于降碳增效和生态保护，具有良好 综合效益。要加强区域能源统筹利用，推进管网设施联通，优化供热计量方式，加快绿色低碳技术研发 应用，将工业余热转化为稳定清洁热源。李强听取山东省能源建设和核电发展情况汇报，要求统筹抓好 清洁能源项目建设和运行安全，提升技术水平和监管能力，更好助力构建新型能源体系。 调研期间，李强主持召开省市县乡四级政府负责同志代表座谈会，听取对《政府工作报 ...

Group 1 - The core message emphasizes the importance of implementing policies effectively to promote development and improve people's livelihoods, aligning with the directives from the central government [1] - The focus on intelligent manufacturing as a key direction for industrial technological transformation and optimization, highlighting the need for continuous investment in research and development to enhance competitiveness [2] - The promotion of clean heating initiatives is recognized for its benefits to both public welfare and ecological protection, with an emphasis on integrating regional energy utilization and advancing green technology [2] Group 2 - The government is urged to actively implement the "14th Five-Year Plan" and ensure effective execution of various policies to foster new growth points and enhance local advantages [2] - There is a call for local governments to focus on practical and systematic planning, particularly in grassroots special planning, to avoid overly ambitious projects [2]

Group 1 - The core message emphasizes the importance of implementing policies effectively to promote development and improve people's livelihoods, aligning with the directives from the central government [1] - The focus on intelligent manufacturing as a key direction for industrial technological transformation and optimization, highlighting the need for continuous investment in research and development to enhance competitiveness [2] - The significance of clean heating for both public welfare and ecological protection, with an emphasis on the integration of regional energy utilization and the advancement of green low-carbon technologies [2] Group 2 - The meeting with government representatives aimed to gather feedback on the "Government Work Report" and the draft of the "14th Five-Year Plan," stressing the need for local governments to actively implement central policies and foster new growth points [3] - The call for high-quality development and the necessity for local governments to create precise and practical plans for the "14th Five-Year Plan," avoiding overly ambitious projects [3]

好企业关切和诉求。要围绕推动高质量发展，结合"十五五"规划的编制和实施，深入谋 划一批重大举措、重大项目，在因地制宜发展新质生产力、做强国内大循环、促进居民 就业增收等重点领域取得更大进展，为未来发展夯实基础、积聚动能。李强强调，地方 政府编制"十五五"规划要坚持实事求是，注重系统集成，特别是基层的专项规划编制要 坚持少而精，不要贪大求全。 吴政隆陪同调研。 来源：新华社 李强首先来到济南二机床集团有限公司，察看灯塔工厂生产线，详细询问减材制造、 增材制造等工艺以及新材料应用情况，对企业通过数智化转型持续提升竞争力表示赞 许。李强说，智能制造是推动产业技术变革和优化升级的主攻方向，要积极利用人工智 能技术对生产制造全链条全周期进行重塑。在保持规模优势基础上更加注重科技创新， 推动技术产品迭代升级，提高自主可控能力。要根据相关产业特别是新兴产业、未来产 业发展需求，持续加大研发投入，强化软硬件协同，不断增加优质供给。在聊热入济供 热北线4号中继能源泵站，李强深入了解聊热入济、济南燃煤锅炉替代等工作进展，对当 地供热"一张网"建设予以肯定。李强指出，清洁供热既有利于民生保障，又有利于降碳 增效和生态保护，具有良好 ...

Group 1 - The core message emphasizes the importance of implementing policies effectively to promote development and improve people's livelihoods, aligning with the directives from the central government [1] - The focus on intelligent manufacturing as a key direction for industrial technological transformation and optimization, highlighting the need for continuous R&D investment and collaboration between software and hardware [2] - The significance of clean heating for both public welfare and ecological protection, with an emphasis on regional energy coordination and the application of green low-carbon technologies [2] Group 2 - The meeting with government representatives aimed to gather feedback on the "Government Work Report" and the draft of the "14th Five-Year Plan," stressing the need for local governments to actively implement central policies and foster new growth points [3] - The call for high-quality development and the importance of planning major initiatives and projects in line with the "14th Five-Year Plan" to strengthen domestic circulation and promote employment [3] - The recommendation for local governments to adopt a pragmatic approach in drafting the "14th Five-Year Plan," focusing on systematic integration and avoiding overly ambitious plans [3]