津上机床中国二零二三年至二零二四年年度报告

(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 2023-2024Annual Report年 度 報 告 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 21years of rapid development since thebusiness commencement in 2003. 21* 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 RESULTS HIGHLIGHTS2CORPORATE INFORMATION3CHAIRMAN’S STATEMENT5MANAGEMENT DISCUSSION AND ANALYSIS9Business review9Financial review11Outlook19DIRECTORS AND SENIOR MANAGEMENT21CORPORATE GOVERNANCE REPORT29ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT60DIRECTORS’ REPORT107INDEPENDENT AUDITOR’S REPORT134Consolidated statement of profit or lossand other comprehensive income141Consolidated statement of financial position142Consolidated statement of changes in equity144Consolidated statement of cash flows145Notes to financial statements147FIVE-YEAR FINANCIAL SUMMARY248CONTENTS目錄 RESULTS HIGHLIGHTS Executive Directors Dr. Tang Donglei(Chairman & Chief Executive Officer)Dr. Li Zequn Non-executive Directors Mr. Takao NishijimaMs. Mami MatsushitaMr. Kenji Yoneyama(appointed on 28 June 2023) Independent Non-executive Directors Dr. Satoshi Iwabuchi(appointed on 28 June 2023)Dr. Huang PingMr. Tam Kin Bor Audit Committee Mr. Tam Kin Bor(Chairman)Mr. Kenji Yoneyama(appointed on 28 June 2023)Dr. 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 Third Floor, Century Yard, Cricket Square,P.O. Box 902, Grand Cayman, KY1-1103,Cayman Islands Registered OfficeThird Floor, Century Yard, Cricket Square,P.O. Box 902, Grand Cayman, KY1-1103,Cayman Islands AuditorErnst & YoungCertified Public Accountants 97943 Legal Adviser 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 811 Compliance AdviserHalcyon Capital Limited11/F, 8 Wyndham StreetCentral, Hong Kong UFJ Principal Bankers Hong KongBank of ChinaThe Bank of Tokyo-Mitsubishi UFJ, Ltd. Hong Kong BranchSumitomo Mitsui Banking Corporation Hong Kong Branch Sumitomo Mitsui Banking Corporation (China) LimitedMUFG Bank (China), LtdMizuho Bank (China), Ltd.China Construction Bank Corporation 1651 Stock Code1651 www.tsugami.com.cn Company Websitewww.tsugami.com.cn CHAIRMAN’S STATEMENT Precision Tsugami (China) Corporation Limited (the “Company”, togetherwith its subsidiaries, collectively, the “Group”) presents its annual resultsreportfor the year ended 31 March 2024(the“FY2024”,the“Yearunder Review” or the “Year”) to the shareholders of the Company (the“Shareholders”). TSUGAMI The Group has always been upholding the tradition of “high precision,highspeed and high rigidity”of the TSUGAMI brand.Against thebackdropof the globally leading CNC high precision machine tooltechnologyof Tsugami Japan,the Group is customer-oriented andstrives to provide customers with cost-effective products and servicesand contribute to the society. IT The Group’s main business is professional customisation, development,production and sales of various CNC high precision machine tools suchas precision lathes, precision machining centres and precision grindingmachines. The products of the Group are mainly used in the industriessuch as a