津上机床中国二零二四年中期报告

(Incorporated in the Cayman Islands with limited liability)|Stock Code : 1651(於開曼群島註冊成立的有限公司) |股份代號: 1651 Precision Tsugami (China) Corporation Limited is a subsidiary established byTsugami Corporation(“Tsugami Japan” or “Controlling Shareholder”),a renowned Japanese CNC high precision machine tool manufacturer, for itsChinese undertakings, and has grown into the largest foreign-branded CNC machinetool manufacturer* in the Chinese machines tools market through 21 years of rapiddevelopment since the business commencement in 2003. The Company manufactures andsells high-end CNC machine tools includingprecision lathes, precision machining centres and precision grinding machines underthe TSUGAMI brand. With its customer orientation, and high speed, high precisionand high rigidity as its quality targets, the Company has been widely recognized bythe industries including automobile parts and components, IT communications andelectronics and industrial automation. The Company’s products are mainly for theChinese market, and are also sold, with or without customisations, to Japan, Europe,the United States, Southeast Asia and other regions through its overseas saleschannels Tsugami Japan. * According to the industry report prepared by Frost & Sullivan (Beijing) Inc., Shanghai Branch Co. in December 2018. 21* TSUGAMIIT * CONTENTS目錄 RESULTS HIGHLIGHTS2CORPORATE INFORMATION3MANAGEMENT DISCUSSION AND ANALYSIS5OTHER INFORMATION16INDEPENDENT REVIEW REPORT27INTERIM CONDENSED CONSOLIDATEDFINANCIAL INFORMATIONInterim condensed consolidated statement ofprofit or loss and other comprehensive income29Interim condensed consolidated statement offinancial position30Interim condensed consolidated statementof changes in equity31Interim condensed consolidated statement ofcash flows32Notes to the interim condensed consolidatedfinancial information34 RESULTS HIGHLIGHTS INTERIMRESULTS REPORT FOR THE SIXMONTHS ENDED 30 SEPTEMBER 2024 Theboard(the“Board”)of directors(the“Directors”)of PrecisionTsugami (China) Corporation Limited (the “Company”) hereby announcesthe unaudited condensed consolidated interim results of the Companyand its subsidiaries (collectively, the “Group”) for the six months ended30September 2024(the“Period under Review”)together with theunauditedcomparative figures for the corresponding period in 2023.Such results have been reviewed by the external auditor Ernst & Youngand the audit committee of the Company. RESULTS HIGHLIGHTS Executive Directors Dr. Tang Donglei(Chairman & Chief Executive Officer)Dr. Li Zequn Non-executive Directors Mr. Takao NishijimaMs. Mami MatsushitaMr. Kenji Yoneyama Independent Non-executive Directors Dr. Satoshi IwabuchiDr. Huang PingMr. Tam Kin Bor Audit Committee Mr. Tam Kin Bor(Chairman)Mr. Kenji YoneyamaDr. Huang Ping Nomination Committee Mr. Tam Kin Bor(Chairman)Mr. Takao NishijimaDr. Huang Ping Remuneration Committee Dr. Huang Ping(Chairman)Dr. Tang DongleiMr. Tam Kin Bor Company SecretaryMs. Wong Wai Yee Ella Registered Office Third Floor, Century Yard, Cricket Square,P.O. Box 902, Grand Cayman, KY1-1103,Cayman Islands Third Floor, Century Yard, Cricket Square,P.O. Box 902, Grand Cayman, KY1-1103,Cayman 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 CORPORATE INFORMATION Principal Place of Business 2001314200 China RegionNo. 2001 Pingcheng RoadPinghu Economic and Technology Development DistrictZhejiang Province, 314200the People’s Republic of China (the “PRC”) 3485 Hong Kong Region5/F, Manulife Place348 Kwun Tong Road, KowloonHong Kong Principal Share Registrar Tricor Services (Cayman Islands) LimitedThird Floor, Century Yard, Cricket Square,P.O. Box 902, Grand Cayman, KY1-1103,Cayman Islands Tricor Services (Cayman Islands) LimitedThird Floor, Century Yard, Cricket Square,P.O. Box 902, Grand Cayman, KY1-1103,Cayman Islands 1617 Hong Kong Branch Share Registrar Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong Compliance Adviser 183343401 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 PRC Sumitomo Mitsui Banking Corporation (China) LimitedMUFG Bank (China), Ltd.Mizuho Bank (China), Ltd.China Construction Bank Corporation 1651 Stock Code 1651 www.tsugami.com.cn Company Websitewww.tsugami.com.cn MANAGEMENT DISCUSSION AND ANALYSIS BUSINESS REVIEW The downtrend in the domestic CNC machine tools industry has sloweddown and almost hit bottom during the third quarter of 2023. SinceMarch this year, there has been a significant recovery in the market.Following the downturn of China’s manufacturing industry in the secondhalfof 2022 and the full year of 2023,the pent-up demand in th