津上机床(五百)二零二五年至二零二六年年度报告

(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 Annual Report年度報告2025-2026 Precision Tsugami (China) CorporationLimitedis a subsidiary establishedbyTsugami Corporation(“TsugamiJapan”or“ControllingShareholder”),a renowned JapaneseCNChigh precision machine toolm a n u f a c t u r e r ,f o r i t s C h i n e s eundertakings, and has grown into thelargest foreign-branded CNC machinetoolmanufacturer*in the Chinesemachinestools market through 23years of rapid development since thebusiness commencement in 2003. 23* The Company manufactures and sellshigh-end CNC machine tools includingprecisionlathes,precision machiningc e n t r e sa n d p r e c i s i o n g r i n d i n gmachines under the TSUGAMI brand.With its customer orientation, and highspeed, high precision and high rigidityasits quality targets,the Companyhasbeen widely recognized by theindustriesincluding automobile partsandcomponents,IT communicationsa n de l e c t r o n i c s a n d i n d u s t r i a lautomation. The Company’s productsaremainly for the Chinese market,andare also sold,with or withoutcustomisations,to Japan,Europe,the United States, Southeast Asia andotherregions through its overseassales channels Tsugami Japan. TSUGAMIIT CONTENTS目錄 RESULTS HIGHLIGHTS2CORPORATE INFORMATION3CHAIRMAN’S STATEMENT6MANAGEMENT DISCUSSION AND ANALYSISBusiness review11Financial review13Outlook22DIRECTORS AND SENIOR MANAGEMENT24CORPORATE GOVERNANCE REPORT32DIRECTORS’ REPORT66INDEPENDENT AUDITOR’S REPORT98Consolidated statement of profit or lossand other comprehensive income105Consolidated statement of financial position106Consolidated statement of changes in equity108Consolidated statement of cash flows110Notes to financial statements112FIVE-YEAR FINANCIAL SUMMARY212 R E S U L T S H I G H L I G H T S Executive Directors Dr. Wang Xiaokun(Chairman & Chief Executive Officer)(appointed as executive director on 25 June 2025 andChairman & Chief Executive Officer on 13 November 2025) Dr. Tang Donghao(appointed on 13 November 2025) Mr. Shoichiro Haga(re-designated as executive directoron 13 November 2025)Mr. Li Junying(appointed on 13 November 2025) Dr. Tang Donglei(resigned as executive director and Chairman &Chief Executive Officer on 13 November 2025)Dr. Li Zequn(resigned on 13 November 2025) Non-executive Directors Mr. Nobuhiro Watabe(appointed on 13 November 2025) Ms. Mami MatsushitaMr. Takao Nishijima(resigned on 13 November 2025) Mr. Shoichiro Haga(appointed as non-executive directoron 25 June 2025 and re-designated as executive Directoron 13 November 2025)Mr. Kenji Yoneyama(resigned on 25 June 2025) Independent Non-executive Directors Mr. Kunimasa Ota(appointed on 25 June 2025) Dr. Satoshi IwabuchiDr. Huang PingMr. Tam Kin Bor Audit Committee Mr. Tam Kin Bor(Chairman)Mr. Kunimasa Ota(appointed on 13 November 2025) Dr. Huang PingMr. Shoichiro Haga(appointed as a member of Audit Committeeon 25 June 2025 and ceased to be member of Audit Committeeon 13 November 2025)Mr. Kenji Yoneyama(resigned on 25 June 2025) C O R P O R A T E I N F O R M A T I O N Nomination CommitteeMr. Tam Kin Bor(Chairman)Ms. Mami Matsushita(appointed on 25 June 2025) Dr. Huang PingMr. Takao Nishijima(resigned on 25 June 2025) Remuneration Committee Dr. Huang Ping(Chairman)Mr. Shoichiro Haga(appointed on 25 June 2025) Mr. Tam Kin BorDr. Tang Donglei(resigned on 25 June 2025) Company SecretaryMs. Wong Wai Yee Ella Registered Office Vistra (Cayman) LimitedP.O. Box 31119 Grand PavilionHibiscus Way, 802 West Bay Road,Grand Cayman, KY1-1205Cayman Islands Vistra (Cayman) LimitedP.O. Box 31119 Grand PavilionHibiscus Way, 802 West Bay Road,Grand Cayman, KY1-1205Cayman Islands Auditor Ernst & YoungCertified Public Accountants 97943 Legal Advisers as to Hong Kong Laws Stephenson Harwood43/F, One Taikoo Place979 King’s RoadQuarry Bay, Hong Kong Principal Place of Business 2001314200 China RegionNo. 2001 Pingcheng RoadPinghu Economic and Technology Development DistrictZhejiang Province, 314200the People’s Republic of China (the “PRC”) 33191915 Hong Kong RegionRoom 1915, 19/F, Lee Garden One33 Hysan Avenue, Causeway BayHong Kong C O R P O R A T E I N F O R M A T I O N Principal Share Registrar P.O. Box 31119 Grand PavilionHibiscus Way, 802 West Bay Road,Grand Cayman, KY1-1205Cayman Islands P.O. Box 31119 Grand PavilionHibiscus Way, 802 West Bay Road,Grand Cayman, KY1-1205Cayman Islands 1617 Hong Kong Branch Share Registrar Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong 183343401 Compliance Adviser Halcyon Capital LimitedRm 3401, 34/F, Hopewell Centre,183 Queen’s Road East,Wanchai, Hong Kong Principal Bankers UFJ Hong KongBank of ChinaThe Bank of Tokyo-Mitsubishi UFJ, Ltd. Hong Kong BranchSumitomo Mitsui Banking Corporation Hong Kong Branch PRCSumitomo Mitsui Banking Corporation (China) LimitedMUFG Bank (China), Ltd.Mizuho Bank (China), Ltd.China Construction Bank Corporatio