津上机床中国二零二三年中期报告

(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 中期報告2023Interim Report 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 20 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. 20* TSUGAMIIT * CONTENTS目錄 RESULTS HIGHLIGHTS2CORPORATE INFORMATION3MANAGEMENT DISCUSSION AND ANALYSIS5OTHER INFORMATION16INDEPENDENT REVIEW REPORT22INTERIM CONDENSED CONSOLIDATEDFINANCIAL INFORMATIONInterim condensed consolidated statement ofprofit or loss and other comprehensive income24Interim condensed consolidated statement offinancial position25Interim condensed consolidated statementof changes in equity26Interim condensed consolidated statement ofcash flows27Notes to the interim condensed consolidatedfinancial statements29 RESULTS HIGHLIGHTS INTERIMRESULTS REPORT FOR THE SIXMONTHS ENDED 30 SEPTEMBER 2023 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 2023(the“Period under Review”)together with theunauditedcomparative figures for the corresponding period in 2022.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. Motoi Yamada(resigned on 28 June 2023)Mr. Kenji Yoneyama(appointed on 28 June 2023) Independent Non-executive Directors Dr. Eiichi Koda(resigned on 28 June 2023)Dr. Satoshi Iwabuchi(appointed on 28 June 2023)Dr. Huang PingMr. Tam Kin Bor Audit Committee Mr. Tam Kin Bor(Chairman)Mr. Motoi Yamada(resigned on 28 June 2023)Mr. Kenji Yoneyama(appointed on 28 June 2023)Dr. Huang Ping Nomination Committee Mr. Tam Kin Bor(Chairman)Mr. Takao NishijimaDr. Huang Ping Remuneration CommitteeDr. Huang Ping(Chairman)Dr. Tang DongleiMr. Tam Kin Bor Company SecretaryMs. Wong Wai Yee Ella PO Box 309, Ugland HouseGrand Cayman KY 1-1104Cayman Islands Registered OfficePO Box 309, Ugland HouseGrand Cayman KY 1-1104Cayman Islands AuditorErnst & YoungCertified Public Accountants 97937 Legal Advisers as to Hong Kong LawsEversheds Sutherland37/F, One Taikoo PlaceTaikoo 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 Maples Fund Services (Cayman) LimitedPO Box 1093, Boundary HallCricket SquareGrand CaymanKY1-1102Cayman Islands Maples Fund Services (Cayman) LimitedPO Box 1093, Boundary HallCricket SquareGrand CaymanKY1-1102Cayman Islands 1617 Hong Kong Branch Share Registrar Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong 811 Compliance AdviserHalcyon Capital Limited11/F, 8 Wyndham StreetCentralHong 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 Code1651 www.tsugami.com.cn Company Websitewww.tsugami.com.cn MANAGEMENT DISCUSSION AND ANALYSIS BUSINESS REVIEW Duringthe Period under Review,affected by the macroeconomicsituation, the domestic manufacturing industry was still in a period ofadjustment, and the demand for CNC machine tools remained sluggish.The sales and profit of the Group recorded a decrease a