Anual Report年度报告

2024-2025

(Incorporated in the Cayman Islands with limited liability 于开曼群岛注册成立的有限公司)

Stock Code 股份代号: 1651

Precision Tsugami (China) Corporation

Limited is a subsidiary established

by Tsugami Corporation 株式会社ツガ

ミ (“Tsugami Japan” or “Controling

Shareholder”), a renowned Japanese

CNC high precision machine tol

manufacturer, for its Chinese

undertakings, and has grown into the

largest foreign-branded CNC machine

tol manufacturer* in the Chinese

machines tols market through 22

years of rapid development since the

busines comencement in 2003.

The Company manufactures and sels

high-end CNC machine tols including

precision lathes, precision machining

centres and precision grinding

machines under the TSUGAMI brand.

With its customer orientation, and high

sped, high precision and high rigidity

as its quality targets, the Company

has ben widely recognized by the

industries including automobile parts

and components, IT comunications

and electronics and industrial

automation. The Company’s products

are mainly for the Chinese market,

and are also sold, with or without

customisations, to Japan, Europe,

the United States, Southeast Asia and

other regions through its overseas

sales chanels Tsugami Japan.

& Sulivan (Beijing) Inc.,

Shanghai Branch Co. in December 2018.

津上精密机床（中国）有限公司是

日本著名数控高精密机床厂家株

式会社ツガミ（「日本津上」或「控

股东」）设立的中国事业的附属

公司，二零三年开业以来，经

过22年的快速发展，已成长为中

国机床市场最大的外资品牌的数

控机床制造商*。

本公司制造并销售TSUGAMI品

牌的精密车床、精密加工中心和

精密磨床等高端数控机床，以客

户为中心，以高速度、高精度和

高刚性为质量目标，得到了汽车

零部件、IT通讯电子和工业自动

化等行业的广泛认可。本公司产

品以中国市场为主，也通过其海

外销售渠道日本津上销往（不论

会否加以订制）日欧美及东南亚

等地区。

（北京）咨询有限公司上海分公司于二

零一八年十二月编制的行业报告。

RESULTS HIGHLIGHTS业绩摘要2

CORPORATE INFORMATION公司资料3

CHAIRMAN’S STATEMENT主席报告5

MANAGEMENT DISCUSION AND ANALYSIS管理层讨论及分析

Busines review 业务回顾9

Financial review 财务回顾11

Outlok 展望20

DIRECTORS AND SENIOR MANAGEMENT董事及高级管理层22

CORPORATE GOVERNANCE REPORT企业管治报告31

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT环境、社会及管治报告63

DIRECTORS’ REPORT董事会报告书150

INDEPENDENT AUDITOR’S REPORT独立核数师报告178

Consolidated statement of profit or los

and other comprehensive income

综合损益及其他

全面收益表

Consolidated statement of financial position 综合财务状况表186

Consolidated statement of changes in equity 综合权益变动表188

Consolidated statement of cash flows 综合现金流量表190

Notes to financial statements 财务报表附注192

FIVE-YEAR FINANCIAL SUMARY五年财务概要292

For the			Year-on-year
year ended 31	Proportion		increase
March 2025	(%)		(%)
截至
二零二五年
三月三十一日			同期对比增长
止年度	占比(%)		(%)
3,624,492	85.1%	2,654,911 85.1% 154,885 5.0% 144,330 4.6% 165,548 5.3%	36.5%
243,618	5.7%		57.3%
208,359	4.9%		44.4%
185,088	4.3%		11.8%
185,088	3,119,674 100%
4,261,557	100%		36.6%

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

FINANCIAL REVIEW

Revenue

During the Year under Review, the total revenue increased by

aproximately 36.6%, or aproximately RMB1,141,883,000, from

aproximately RMB3,119,674,000 in the last financial year to

aproximately RMB4,261,557,000. Such increase was primarily due

to (1) increased demand for machine tols from the downstream

manufacturing industry as a result of China’s pickup in overal economic

conditions in 2024 and the upturn in the CNC machine tols industry

comencing in March and April 2024; and (2) improved product

cost-efectivenes and competitivenes due to the Company’s ongoing

cost reduction and eficiency improvement initiatives, as wel as active

participation in market competition to reduce sales price. More orders

were secured by the Company, contributed by its continuously diversified

product oferings and increased penetration into downstream segments.

In particular, (i) the precision lathes recorded sales of aproximately

RMB3,624,492,000 during the Year under Review, representing

a year-on-year increase of aproximately 36.5%; (i) the precision

machining centres recorded sales of aproximately RMB243,618,000

during the Year under Review, representing a year-on-year increase

of aproximately 57.3%; (i) the precision grinding machines recorded

sales of aproximately RMB208,359,000 during the Year under Review,

representing a year-on-year increase of aproximately 44.4%; and

(iv) other sales, which mainly included sales of thread and form roling

machines, and ancilary parts and components, recorded aproximately

RMB185,088,000, representing a year-on-year increase of aproximately

11.8%.

The table below sets out the revenue breakdown by product category

for the Year under Review and the last financial year: (RMB’000)

Precision lathes精密车床

Precision machining centres精密加工中心

Precision grinding machines精密磨床

Others其他

Total合计

, parts and

components and after-sales service income.

财务回顾

收入

于回顾年度，收入总额由上一财年的约人

民币3,119,674千元增加约36.6%或约人民

币1,141,883千元至回顾年度的约人民币

4,261,557千元，增加的主要因素为(1)中国经济

形势2024年度总体向好，及数控机床行业自二

零二四年三、四月份开始进入上行周期，下游制

造业对机床需求增加；及(2)公司通过不断实施

降本增效的措施，以及积极参与市场竞争降低

售价，提高了产品的性价比和竞争力。通过不

断丰富产品线并对下游细分行业的不断渗透，

公司获得了更多订单。其中(i)精密车床在回顾年

度的销售额约人民币3,624,492千元，同比增加

约36.5%；(i)精密加工中心在回顾年度的销售额

约人民币243,618千元，同比增加约57.3%；(i)

精密磨床在回顾年度的销售额约人民币208,359

千元，同比增加约44.4%；(iv)其他销售额（主

要包括滚丝机及配套零部件的销售额）约人民币

185,088千元，同比增加约11.8%。

下表载列于回顾年度及上一财年按产品类别划分

的收入：（人民币千元）

、零部件销售及售后服务收入。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

Gros Profit and Gros Profit Margin

The gros profit during the Year under Review increased by

aproximately 57.5% to aproximately RMB1,410,433,000 as compared

to the last financial year. The gros profit margin increased from

aproximately 28.7% in the last financial year to aproximately 33.1%

during the Year under Review. The increased sales revenue during the

Year under Review led to a coresponding increase in gros profit, with

the gros profit margin rising by 4.4 percentage points, which was

mainly atributable to the substantial enhancements in cost reduction

and eficiency improvement implemented by the Company.

Other Income and Gains

Other income and gains of the Group primarily consist of bank interest

income, government grants and others. During the Year under Review,

other income and gains decreased by aproximately 5.7% as compared

with the last financial year to aproximately RMB80,384,000, primarily

due to the slight decrease in the bank interest income received as a

result of the slight decrease in the cash and bank balances held by

the Company during the Year under Review. The bank interest income

decreased by aproximately RMB5,146,000 year-on-year.

Seling and Distribution Expenses

Seling and distribution expenses primarily consist of staf salaries

and benefits, transportation and insurance costs, waranty expenses,

travel expenses, ofice utility expenses, marketing and advertisement

expenses and depreciation costs. During the Year under Review, seling

and distribution expenses of the Group amounted to aproximately

RMB189,947,000, representing an increase of aproximately 21.9% as

compared with the last financial year, and acounting for aproximately

4.5% of the Group’s revenue for the Year under Review. Such increase

in expenses was mainly atributable to the increase in salaries and

benefits costs for marketing and after-sales service staf, and the

increase in waranty expenses as a result of the increase in shipment

volume.

毛利及毛利率

回顾年度的毛利较上一财年增加约57.5%，至约

人民币1,410,433千元。毛利率由上一财年的约

28.7%上升至回顾年度的约33.1%。回顾年度销

售收入的增加，使得毛利相应增加，毛利率上升

4.4个百分点，主要得益于公司实施的大量降本

增效的改善措施。

其他收入及收益

本集团的其他收入及收益主要包括银行利息收

入、政府补助及其他。于回顾年度，其他收入

及收益约人民币80,384千元，较上一财年减少

约5.7%。主要由于回顾年度内，公司持有的现

金及银行结余略有减少，使得收取的银行利息收

入小幅下降。银行利息收入同比减少约人民币

5,146千元。

销售及分销开支

销售及分销开支主要包括员工薪金及福利、运输

及保险成本、保修开支、差旅费开支、办公室水

电费开支、市场推广及广告开支及折旧成本。于

回顾年度，本集团的销售及分销开支约为人民币

189,947千元，较上一财年增加约21.9%，占本

集团于回顾年度的收入约4.5%。开支增加主要

由于回顾年度内营销及售后服务人员薪金及福利

成本的增加，及随著出货量的增加带来保修开支

的增加。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

Administrative Expenses

Administrative expenses primarily consist of salaries and benefits for

management, administrative and financial personel, administrative

costs, customisation and development expenses, depreciation expenses

relating to property, plant and equipment used for administrative

purposes, amortisation expenses for the management information

systems, and other taxes and levies expenditure.

During the Year under Review, administrative expenses amounted

to aproximately RMB152,629,000, representing an increase of

aproximately 34.1% as compared with the last financial year, which was

mainly due to the increase in development expenses and salaries and

benefits costs for administrative staf, and the increase in ofice expenses

of the administrative department during the Year under Review.

Other Expenses

Other expenses primarily include exchange loses, loses on the disposal

of fixed asets, banking charges and others. During the Year under

Review, other expenses amounted to aproximately RMB4,434,000,

representing a decrease of aproximately RMB5,279,000 as compared

with the last financial year, mainly due to the combined efect of the

decrease in exchange loses arising from the Japanese Yen deposits

and receivables held by the Company as a result of movements in the

Japanese Yen against Renminbi exchange rates, and the decrease in the

loses on disposal of fixed asets during the Year under Review.

Impairment Loses on Financial Asets

During the Year under Review, the provision for net impairment loses

on financial asets amounted to aproximately RMB6,216,000, as

compared to the provision for net impairment gains of RMB2,340,000

in the last financial year, which was mainly due to the increase in sales

during the Year under Review and the coresponding increase in balance

of trade and notes receivables as at the end of the year, resulting in an

increase in the provision made for the same.

Finance Costs

During the Year under Review, the finance costs were aproximately

RMB412,000 (for the last financial year: RMB993,000), which was mainly

due to the decrease in interest arising from the discounting of bank bils

during the Year under Review as compared with that of the same period

last year.

管理费用

管理费用主要包括管理层、行政及财务人员薪金

及福利、行政办公费成本、订制及开发开支、用

作行政用途的物业、厂房及设备有关的折旧开

支、管理信息系统摊销开支、其他税项及征费开

支。

于回顾年度内，管理费用约为人民币152,629千

元，较上一财年增加约34.1%，主要由于回顾年

度内开发开支及行政人员的薪金及福利成本的增

加，及行政管理部门的办公费用的增加所致。

其他支出

其他支出主要包括汇兑亏损、出售固定资产的亏

损、银行手续费及其他。于回顾年度，其他支出

约为人民币4,434千元，较上一财年减少约人民

币5,279千元，主要由于回顾年度内日圆对人民

币的汇率波动，公司持有的日圆存款及应收款产

生的汇兑损失减少及固定资产处置损失减少的综

合影响所致。

金融资产减值损失

于回顾年度内，计提的金融资产减值为净损失

约人民币6,216千元（上一财年为净收益人民币

2,340千元），主要是由于回顾年度销售额的增

加，应收贸易款项及票据年度末余额相应增加，

由此计提的准备金增加所致。

财务成本

于回顾年度内，融资成本约为人民币412千元

（上一财年：人民币993千元）主要由于回顾年度

内银行汇票贴现所产生的利息比去年同期减少所

致。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

Income Tax Expenses

During the Year under Review, income tax expenses increased by

aproximately 59.3% as compared with the last financial year to

aproximately RMB354,762,000, which was mainly due to the increase

in revenue and profit before tax.

Profit for the Year

As a result of the aforementioned factors, the Group’s profit for the year

increased by aproximately 63.0% from aproximately RMB479,970,000

in the last financial year to aproximately RMB782,417,000 for the Year

under Review.

Liquidity, Financial Resources and Debt Structure

During the Year under Review, the Group continued to maintain

a healthy and solid liquidity position by funding its operations and

investments mainly with internal cash flows. As at 31 March 2025, the

cash and cash equivalents and time deposits with maturity of more than

thre months of the Group amounted to aproximately RMB390,064,000

and RMB676,000,000, respectively (31 March 2024: aproximately

RMB678,007,000 and RMB425,000,000, respectively).

As at 31 March 2025, the Group’s cash and cash equivalents were

mainly held in Renminbi, and part of them were held in Hong Kong

dolars and Japanese yen (“JPY”).

As at 31 March 2025, the Group recorded net curent asets of

aproximately RMB2,621,029,000 (31 March 2024: aproximately

RMB2,156,810,000). Capital expenditures for the year ended 31 March

2025 amounted to aproximately RMB45,904,000, which was mainly

utilised to finance the purchase and construction of plants, the adition

of procesing equipment, and the adition and purchase of design and

management software.

As at 31 March 2025, the Group had no outstanding bank loans

(31 March 2024: nil) and had no discounted bils with recourse (31

March 2024: nil). As at 31 March 2025, the Group’s gearing ratio was

aproximately 0.07% (31 March 2024: 0.15%), calculated by dividing

total debt (i.e.bank loans and other borowing and lease liabilities) by

total equity.

所得税开支

于回顾年度，所得税开支约为人民币354,762千

元，较上一财年增加约59.3%，主要由于收入及

除税前溢利的增加所致。

年内溢利

由于上述各项因素，本集团的年内溢利由上一财

年的约人民币479,970千元增加约63.0%至回顾

年度的约人民币782,417千元。

流动资金、财务资源及债务结构

于回顾年度，本集团主要以内部产生的现金流量

为其经营及投资提供资金，继续维持良好及稳健

的流动资金状况。于二零二五年三月三十一日，

本集团之现金及现金等价物及到期日三个月以

上的定期存款分别约为人民币390,064千元、人

民币676,000千元（二零二四年三月三十一日：

分别约人民币678,007千元、人民币425,000千

元）。

于二零二五年三月三十一日，本集团之现金及现

金等价物主要以人民币持有，并有部分以港元和

日圆（「日圆」）持有。

于二零二五年三月三十一日，本集团录得流动资

产净值约人民币2,621,029千元（二零二四年三

月三十一日：约人民币2,156,810千元）。截至

二零二五年三月三十一日止年度的资本支出约为

人民币45,904千元，主要用作为厂房购建及加

工设备的导入，及添置购买设计及管理软件。

于二零二五年三月三十一日，本集团概无未偿还

之银行贷款（二零二四年三月三十一日：无），

无具有追索权的已贴现票据（二零二四年三月三

十一日：无）。于二零二五年三月三十一日，本

集团的杠杆比率约为0.07%，该比例按照总负

债（即：银行贷款及其他借款及租赁负债）除以

权益总额计算得出（二零二四年三月三十一日：

0.15%）。

2025
二零二五年
114
109
73

2025
二零二五年
3.7

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

An analysis of the Group’s key liquidity ratios is as folows:

Year ended 31 March

截至三月三十一日止年度

二零二四年

Average inventory turnover days (Note 1)平均存货周转天数（附注1）157

Average turnover days of trade and notes

receivables (Note 2)

应收贸易款项及票据的平均周转天数

（附注2）105

Average turnover days of trade and notes

payables (Note 3)

应付贸易款项及票据的平均周转天数

（附注3）95

As at 31 March

于三月三十一日

二零二四年

Curent ratio (Note 4)流动比率（附注4）3.7

Notes:

1. Average inventory turnover days are calculated based on the average balance of

inventory at the begining and end of the relevant financial year divided by the cost

of sales for the relevant financial year multiplied by 365 days.

2. Average turnover days of trade and notes receivables are calculated based on the

average balance of trade and notes receivables at the begining and end of the

relevant financial year divided by the revenue for the relevant financial year multiplied

by 365 days.

3. Average turnover days of trade and notes payables are calculated based on the

average balance of trade and notes payables at the begining and end of the

relevant financial year divided by the cost of sales for the relevant financial year

multiplied by 365 days.

4. Curent ratio is calculated based on total curent asets divided by total curent

liabilities as at the end of the relevant financial year.

本集团的主要流动资金比率分析如下：

附注：

1. 平均存货周转天数乃按存货于有关财政年度初及年度

末的平均结余除以有关财政年度的销售成本再乘以

365天计算。

2. 应收贸易款项及票据的平均周转天数乃按应收贸易款

项及票据于有关财政年度初及年度末的平均结余除以

有关财政年度的收入再乘以365天计算。

3. 应付贸易款项及票据的平均周转天数乃按应付贸易款

项及票据于有关财政年度初及年度末的平均结余除以

有关财政年度的销售成本再乘以365天计算。

4. 流动比率乃按有关财政年度末的流动资产总额除以流

动负债总额计算。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

Average inventory turnover days

During the Year under Review, the Group’s average inventory turnover

days were 114 days, representing a decrease of 43 days as compared

to the last financial year, which was mainly due to the increase of

aproximately 36.6% in sales for the Year under Review as compared

with the last financial year. The increase in sales led to an increase in

production volume, which acelerated the turnover of the Company’s

inventory, resulting in a decrease in the average inventory turnover days.

Average turnover days of trade and notes receivables

During the Year under Review, the Group’s average turnover days of

trade and notes receivables were 109 days, representing an increase of

4 days as compared to the last financial year, which was mainly due to

the increase of aproximately 36.6% in sales for the Year under Review

as compared with the last financial year. However, the average balance

of trade and notes receivables increased by 41.6% as compared to the

last financial year. The increase in trade and notes receivables exceded

the increase in sales, resulting in an increase in average turnover days

as compared to the last financial year. Curently, the relevant trade

receivables are al within normal credit terms.

Average turnover days of trade and notes payables

During the Year under Review, the Group’s average turnover days of

trade and notes payables were 73 days, representing a decrease of 22

days as compared to the last financial year, which was mainly due to

the fact that the average balance of trade and notes payables during the

Year under Review remained basicaly flat with those of the last financial

year, while the cost of sales during the Year under Review increased

by 28.2% as compared to the last financial year, resulting in a faster

average turnover of trade and notes payables.

Curent ratio

As at 31 March 2025, the Group’s curent ratio was aproximately 3.7

times (31 March 2024: aproximately 3.7 times), which remained stable.

During the Year under Review, the Group recorded an increase in the

Company’s sales, resulting in an increase in trade and notes receivables,

as wel as a coresponding increase in procurement of materials due to

the increase in production volume of the Company, an increase of 14.4%

in the balance of trade payables as at 31 March 2025, an increase of

20.8% in overal curent liabilities, as wel as a year-on-year increase of

21.3% in the curent asets as at 31 March 2025.

平均存货周转天数

于回顾年度，本集团的平均存货周转天数为114

天，较上一财年减少43天。主要是由于回顾年

度的销售额较上一财年增加约36.6%，销售额的

增加带来产量的增加，加快了公司存货的周转，

反映出来的结果是平均存货周转天数减少。

应收贸易款项及票据的平均周转天数

于回顾年度，本集团的应收贸易款项及票据的平

均周转天数为109天，较上一财年增加了4天。

主要是由于回顾年度的销售额较上一财年增加约

36.6%，但应收贸易款项及票据的平均结余比上

一财年增加41.6%，应收贸易款项及票据的增加

幅度大于销售额的增加幅度，平均周转天数比上

一财年有所上升。目前有关应收贸易款项均处在

正常信贷期内。

应付贸易款项及票据的平均周转天数

于回顾年度，本集团的应付贸易款项及票据的平

均周转天数为73天，与上一财年相比减少了22

天，主要是由于回顾年度的应付贸易款项及票据

的平均结余额与上一财年基本持平，但是回顾年

度的销售成本较上一财年增加28.2%，应付贸易

款项及票据的平均周转加快所致。

流动比率

于二零二五年三月三十一日，本集团的流动比率

约为3.7倍，二零二四年三月三十一日同比率约

为3.7倍，保持稳定。于回顾年度内，本集团录

得公司销售增加，导致应收贸易款项及票据增

加，同时因公司产量的增加，资材采购相应增

加，截至二零二五年三月三十一日的应付贸易款

项余额增加14.4%，整体流动负债增加20.8%，

同时截至二零二五年三月三十一日的流动资产同

比增加21.3%所致。

2025
二零二五年
RMB’000
人民币千元
5,511
4,750
10,261

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

Capital Comitment

The Group had the folowing capital comitments during the Year under

Review and the last year:

As at 31 March

于三月三十一日

二零二四年

RMB’000

人民币千元

Contracted, but not provided for:已订约但未拨备：21,307

Property, plant and equipment 物业、厂房及设备

Equity investments designated at fair value

through other comprehensive income

指定为以公允价值计量且其变动

计入其他综合收益的股权投资5,725

Total总计27,032

Contingent Liabilities

As at 31 March 2025, the Group had no material contingent liabilities (31

March 2024: nil).

Curency Risk and Management

Apart from a few overseas busineses that are setled in JPY and United

States dolars, the sales and procurement of the Group are mainly

denominated in Renminbi. As such, the management of the Group

believes that the Company does not have significant curency exchange

exposure.

During the Year under Review, the Group did not enter into any foreign

curency forward contracts or use any derivative contracts to hedge

against its exposure. The Group manages its curency risk by closely

monitoring the movement of the foreign curency exchange rates and

may consider hedging against significant foreign curency exposure

should the ned arise.

资本承担

本集团于回顾年度及去年的资本承担如下：

或然负债

于二零二五年三月三十一日，本集团并无重大或

然负债（二零二四年三月三十一日：无）。

货币风险及管理

本集团除少数海外业务以日圆及美元结算外，主

要以人民币进行销售及采购，所以本集团的管理

层判断公司不存在重大汇兑风险。

于回顾年度，本集团并无订立任何外汇远期合约

或使用任何衍生工具合约来对冲此风险。本集团

密切监视外汇率变化以管理货币风险并会在必

要时考虑对冲重大外汇风险。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

Significant Investment, Material Acquisition and Disposal of

Subsidiaries and Asociated Companies

In order to expand its production capacity, the Group invested in fixed

asets of aproximately RMB42,405,000 during the Year under Review,

including aproximately RMB21,551,000 in buildings, aproximately

RMB8,486,000 in machinery and equipment and aproximately

RMB12,368,000 in other investments.

In order to ensure the Company’s future production capacity and met

the demand for CNC machine tols in the PRC market, the Company

built two new plants on the existing plant area of the fifth plant area of

the Group, with an investment of aproximately RMB130 milion. During

the Year under Review, the completion and aceptance procedures

for both new plants were completed, which comenced ful operation

since October 2024 as an asembly workshop for turet machines. It

is expected to increase production capacity of 3,000 to 4,000 units of

CNC precision machine tols for the Group, which wil greatly enhance

the Company’s production capacity.

Save for the investments disclosed above, the Group did not hold any

other significant investment nor make any material acquisition or disposal

of subsidiaries and asociated companies during the Year under Review.

Employes and Remuneration Policy

As at 31 March 2025, the Group employed 2,399 employes (31

March 2024: 2,131), of whom 12 (31 March 2024: 11) were seconded

employes from the Controling Shareholder. The Group’s staf costs

(including salaries, bonuses, social insurance, provident funds and

share award scheme) amounted to RMB459,168,000 (31 March 2024:

RMB377,995,000) in agregate, acounting for aproximately 10.8% of

the total revenue of the Group during the Year under Review.

The Group ofers atractive remuneration packages, including

competitively fixed salaries plus performance-based anual bonuses, and

continuously provides tailored training to its employes to promote their

upward mobility in the organisation and foster their loyalty. The Group’s

employes are subject to regular job performance reviews, which have

bearing on their promotion prospects and compensation. Remuneration

is determined with reference to market practice and condition and

individual employe’s performance, qualifications and experience.

重大投资、重大收购及出售附属公司及联

属公司

本集团为了扩大产能，于回顾年度内增加固定

资产投入约人民币42,405千元，其中房屋建筑

物投资约人民币21,551千元，机器设备投资约

人民币8,486千元，其他投资约人民币12,368千

元。

为了确保公司未来的产能，满足中国市场对数控

机床的需求，公司在集团第五厂区现有厂区内投

资约人民币1.3亿元建造的两栋新厂房，于回顾

年度内已完成全部新厂房的竣工验收手续，并二

零二四年十月起作为刀塔车床的组装车间全面投

入使用。预计将为本集团增加3,000至4,000台

数控精密机床产能，大增强公司的生产能力。

除上述所披露的投资外，本集团于回顾年度并无

持有任何其他重大投资或进行任何重大收购或出

售附属公司及联属公司。

雇员及薪酬政策

于二零二五年三月三十一日，本集团聘用2,399

名雇员（二零二四年三月三十一日：2,131名），

其中12名（二零二四年三月三十一日：11名）为

来自控股东的借调员工。本集团的员工成本

（包括薪酬、花红、社会保障、公积金及股份激

励计划）总额为人民币459,168千元（二零二四年

三月三十一日：人民币377,995千元），占本集

团回顾年度收入总额约10.8%。

本集团提供具有吸引力的薪酬方案，包括具有竞

争力的固定薪水加上年度绩效花红，并持续向雇

员提供专门培训，促进雇员于架构内向上流动及

提升雇员忠诚度。本集团的雇员须接受定期工作

绩效考核，从而厘定其晋升前景及薪酬。薪酬乃

参考市场常规及市况以及个别雇员表现、资历及

经验而厘定。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

The Group has also adopted a share award scheme to (i) recognise

contributions made by certain eligible participants and to provide them

with incentives to, through their oportunity in ownership of the equity

interests in the Company and sharing of the results of the Group’s

strategic development, contribute to the Group and increase the value

of the Company and the shares, thereby benefiting the Company and

the Shareholders as a whole; and (i) retain talents and atract suitable

personel for further development of the Group.

Charge on Asets

As at 31 March 2025, the Group had no asets charged to any financial

institutions (as at 31 March 2024: nil).

Future Plans for Material Investments or Capital Asets

Save as disclosed in this anual report, the Group did not have any

future plans for material investments or capital asets as at 31 March

2025.

本集团亦已采纳股份奖励计划，旨在(i)认可若干

合资格参与者的贡献，并通过他们拥有本公司股

权及共享本集团战略发展成果的机会为其提供激

励，为本集团作出贡献并提高本公司及股份的价

值，从而使本公司及股东整体受益；及(i)为本集

团的进一步发展挽留人才及吸引合适人才。

资产抵押

于二零二五年三月三十一日，本集团并无向任何

金融机构抵押其他资产（于二零二四年三月三十

一日：无）。

重大投资或资本资产的未来计划

除于本年报所披露者外，本集团于二零二五年三

月三十一日并无任何重大投资或资本资产的未来

计划。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

OUTLOK

Since March 2024, China’s machine tols industry has clearly entered

a new upward cycle. During the Year under Review, the demand for

machine tols in the manufacturing industry consistently increased, with

each quarter recording considerable year-on-year growth as compared

to the previous year. This trend has continued into 2025, particularly

with robust demand from January to March, resulting in the best order

performance since the establishment of the Group. In particular, the

demand from the automobile parts and components sector remained

robust, while other sectors also experienced year-on-year growth.

Folowing April, the tarif war initiated by the Trump administration

resulted in retaliatory escalations in tarifs betwen China and the United

States, along with uncertain prospects for subsequent negotiations

betwen representatives from both countries, casting a shadow over the

FY2026 trajectory that was initialy promising and introducing multiple

uncertainties.

Despite persistent external uncertainties, the broader context of China’s

transformation and upgrading in the manufacturing industry, along

with demand for equipment upgrades, wil continue to unfold. China’s

manufacturing industry remains the world’s largest in scale with the most

complete suply chains and continues to be the most atractive CNC

machine tols market globaly. Folowing the outbreak of tarif war, the

Chinese government promptly introduced relevant fiscal and financial

policies. Based on orders in April and May, the impact of the tarif war

has ben limited.

Acordingly, the Group maintains its anticipation of a more robust

industry demand in FY2026 compared to the Year under Review, and

wil work to seize this oportunity to achieve its best performance since

the establishment of the Group.

In terms of downstream segments, it can be observed that both in the

near term and future, the manufacturing demand for miniature precision

parts and components driven by the upgrade and transformation of

automotive technologies as wel as the rapid development of AI and

embodied robots, wil present an extremely apealing development

oportunity for the Group which specializes in miniature precision

machine tols.

展望

自2024年3月起，国内机床行业已明显进入一个

新的上行周期，在回顾年度中，制造业对机床的

需求一直处于增长态势，各季度对比前一年度均

有相当幅度的同比增长。进入2025年，这个趋

势仍然继续，特别是1~3月份的需求强劲，为本

集团成立以来的最佳订单业绩。其中，汽车零部

件行业需求持续旺盛，其他行业也有同比增长。

4月份之后，由于特朗普政权发动了关税战，中

美双方的相互报复性关税升级，以及后期的两国

代表的商谈前景不明，使原本良好开局的2026

财年走势，被蒙上了一层阴影，增添了诸多不确

定因素。

尽管外部环境仍充满不确定性，但国内制造业转

型升级与设备更新需求将逐步释放的大环境依然

存在，中国制造业在全球依然规模最大，供应链

最健全，仍是全球最具魅力的数控机床市场。在

进入关税战之后，中国政府及时出台了相关的财

政和金融政策。从4、5月份订单情况来看，关

税战的影响规模是限定的。

因此，本集团仍坚持2026财年的行业需求会好

于回顾年度的预估，并努力抓住这个机会挑战集

团成立以来的最佳业绩。

从下游细分行业来看，可以观察到近期及未来，

由于汽车行业技术的升级转型，以及AI和人形机

器人的急速发展所带来的小型精密零部件的制造

需求，对以小型精密机床为产品特色的本集团提

供了极具魅力的发展机遇。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

With the fifth plant in Pinghu put into operation in October 2024, the

Group expects to increase its anual production capacity by 3,000 to

4,000 units of machine tols. Precision Tsugami Anhui also continues to

adopt new equipment, constantly improving its machining capacity for

parts and components and its asembling capacity for function units.

In adition, the Group has formulated plans to strategicaly position its

production capacity in 2025. In May 2025, the Group acquired a land

of aproximately 34 mu in Pinghu Economic Development District, and

planed to construct two plants over the next two years. The new plant

area under planing is expected to increase the anual production

capacity by aproximately 3,000 units of machine tols. The Group

is confident in its future development and aims to further expand its

market share by providing cost-efective products and services to the

market to met customer demands, striving to become a world-clas

comprehensive machine tols manufacturer.

随著平湖第五工厂于2024年10月投产，本集团

预计年度增加3,000至4,000台机床产能。安徽

津上也在不断导入新设备，零部件加工产能及功

能单元组装产能在不断提升。2025年本集团也

有提前布局未来公司的产能的计划，5月已在平

湖经济开发区新购入约34亩土地，计划花两年

时间建设两栋厂房，规划的新厂区将来预计每年

可增加约3,000台的机床产能。本集团对未来的

发展充满信心，我们将通过向市场提供高性价比

的产品和服务，满足客户需求，进一步提升市场

份额，努力成长为世界级的综合机床厂家。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS AND SENIOR MANAGEMENT

董事及高级管理层

Executive Directors

Dr. Tang Donglei (唐东雷) (“Dr. Tang”), aged 62, is the Chief

Executive Oficer of the Company and was apointed as the chairman

on 1 April 2022. He was apointed as the executive Director of the

Company on 13 May 2015. He is primarily responsible for the overal

management, strategic planing and busines development of the

Group, our operating subsidiary in the PRC. From July 1992 to August

2002, Dr. Tang served in Tokyo Seimitsu Co., Ltd., a company listed

on the Tokyo Stock Exchange (TYO: 7729) and primarily engaged in

the manufacture and sales of semiconductor production equipment and

measuring instruments. From June 2017 to June 2018, Dr. Tang served

as an external director of Tokyo Seimitsu Co., Ltd. From September

2002 to October 2005, Dr. Tang served as the managing director of

MJC Microelectronics Shanghai Co., Ltd. (旺杰芯微电子(上海)有限

公司), a company primarily engaged in the design, manufacture of

probe card for semiconductor testing, test instrument and electronic

special equipment and sales of products, where he was responsible

for the overal operation of the company. Dr. Tang joined the Group in

November 2005 and was apointed as the director and president of

PTC in November 2005 and November 2006, respectively, where he was

responsible for the strategic planing and overal operation. From June

2010 to 13 February 2017, Dr. Tang held various positions in Tsugami

Japan (a company listed on the Tokyo Stock Exchange (TYO: 6101) and

last served as a director and an adviser who was primarily responsible

for the overal operation of the company. Dr. Tang was apointed as a

director of Tsugami Japan on 20 June 2018 and mainly managed the

busines arangement betwen Tsugami Japan and its subsidiaries

(except the Group) and the Group.

Dr. Tang is the brother in law of Dr. Wang Xiaokun who is the executive

director of the Group.

Dr. Tang received his bachelor’s degre in precision machinery and

instruments from Harbin Institute of Technology (哈尔滨工业大学) in July

1984 and his master’s degre in precision enginering from Shinshu

University (信州大学) in Japan in March 1988. Dr. Tang received his

doctor of enginering degre, majoring in precision machinery systems,

from Tokyo Institute of Technology (东京工业大学) in January 1994.

执行董事

唐东雷博士（「唐博士」），62岁，为本公司的行

政总裁，于二零二年四月一日获委任为主席。

于二零一五年五月十三日获委任为本公司之执行

董事，彼主要负责本集团的整体管理、策略规

划及业务发展。唐博士于一九二年七月至二

零二年八月在株式会社东京精密任职。株式

会社东京精密于东京证券交易所上市（东证所：

7729），主要从事制造及销售半导体制造设备及

测量仪器。二零一七年六月至二零一八年六月，

唐博士担任株式会社东京精密的外部董事。于二

零二年九月至二零五年十月，唐博士出任旺

杰芯微电子（上海）有限公司董事总经理。该公

司主要从事半导体测试用探针卡、测试仪器及特

殊电子设备的设计及制造以及产品销售，彼负责

该公司整体营运。唐博士于二零五年十一月加

入本集团，并分别于二零五年十一月及二零

六年十一月获委任为津上精密机床的董事及总

裁，负责策略规划及整体营运。于二零一零年六

月至二零一七年二月十三日，唐博士于日本津上

（于东京证券交易所上市（东证所：6101）担任

多个职位，最后出任董事及顾问，主要负责该公

司整体营运。唐博士于二零一八年六月二十日获

委任为日本津上的董事，主要管理日本津上与其

附属公司（本集团除外）与本集团之业务安排。

唐博士为本集团执行董事王晓坤博士之郎舅。

唐博士于一九八四年七月获哈尔滨工业大学精密

机械与仪器学士学位及于一九八年三月获日本

信州大学精密工程硕士学位。唐博士于一九四

年一月获东京工业大学精密机械系统工程博士学

位。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS AND SENIOR MANAGEMENT

董事及高级管理层

Dr. Wang Xiaokun (王晓坤) (“Dr. Wang”), aged 53, has ben

apointed as an executive director of the Company on 25 June 2025.

He joined the Group since March 2011. He has ben the director,

deputy general manager and general manager of the sales division of

Precision Tsugami (China) Corporation (“PTC”), our operating subsidiary

in the PRC, since November 2016 and was promoted to president in

October 2023 and was promoted to chairman and president on 25 June

2025. He is primarily responsible for the overal management, strategic

planing and busines development of the Group. From January 2006

to October 2007, Dr. Wang served as sales manager in Shokuken Co.,

Ltd. (株式会社食研). From November 2007 to February 2011, Dr. Wang

served as deputy general manager of Rongcheng Bodelong Fodstuf

Co., Ltd. (荣成波德隆食品有限公司). From March 2011 to October 2016,

Dr. Wang served as the asistant manager of the sales department of

PTC.

Dr. Wang obtained his bachelor’s degre in Fod Science and

Enginering from Northeast Agricultural University (东北农业大学) in the

PRC in July 1995. Dr. Wang received his master’s degre in Bioresource

Chemistry in March 2001 and his doctor’s degre in Diversity Science in

September 2005 from Chiba University (日本千叶大学) in Japan.

Dr. Wang is the brother-in-law of Dr. Tang Donglei, who is the executive

Director, chairman and chief executive oficer of the Company.

王晓坤博士（「王博士」），53岁，于二零二五年

六月二十五日获委任为执行董事。彼于二零一

年三月加入本集团，自二零一六年十一月出任本

公司的中国营运附属公司津上精密机床（浙江）

有限公司（「津上精密机床」）的董事、副总经理

及营业本部长，于二零二三年十月晋升为总裁，

并于二零二五年六月二十五日晋升为董事长兼总

裁。彼主要负责本集团的整体管理、策略规划

及业务发展。于二零六年一月至二零七年

十月，王博士出任株式会社食研(Shokuken Co.,

Ltd.)营业担当。于二零七年十一月至二零一

年二月，王博士出任荣成波德隆食品有限公司副

总经理。于二零一年三月至二零一六年十月，

王博士出任津上精密机床营业部副部长。

王博士于一九五年七月获中国东北农业大学食

品科学及工程学士学位。王博士于二零一年三

月取得日本千叶大学生物资源化学硕士学位及于

二零五年九月取得多样性科学博士学位。

王博士是本公司执行董事、主席兼首席执行官唐

东雷博士的郎舅。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS AND SENIOR MANAGEMENT

董事及高级管理层

Dr. Li Zequn (李泽群) (“Dr. Li”), aged 64, was apointed as the

executive Director of the Company on 20 August 2018. He joined the

Group since April 2013 and is the vice president of the Group. He

was a director of PTC from June 2017 to June 2018. He is also the

responsible person of management department of the Group. Prior to

joining the Group, from October 1991 to August 2003, Dr. Li served

in Seiko Instruments Inc. (セイコーインスツル株式会社), a company

primarily engaged in the manufacture of products and systems for the

electronic product components and machine tols. He was an asistant

manager from April 1998 to August 2003, and was primarily responsible

for the development of electronics and machinery components. From

September 2003 to March 2013, Dr. Li worked for Calsonic Kansei

Corporation (カルソニックカンセイ株式会社) and its group company.

He was primarily responsible for formulating busines strategies and

carying out feasibility study in the PRC. He also served as a manager in

Calsonic Kansei Corporation (カルソニックカンセイ株式会社) and the

head of a PRC group company of Calsonic Kansei Corporation (カルソニ

ックカンセイ株式会社). Dr. Li was also responsible for the development

of production technology, product integration and quality asurance and

for the provision of technical suport of Calsonic Kansei Corporation (カ

ルソニックカンセイ株式会社).

Dr. Li obtained his bachelor degre in enginering from North University

of China (中北大学) (then known as Taiyuan Institute of Machinery (太原

机械学院) in July 1982 and received his master’s degre and doctor’s

degre in enginering, from Kanazawa University (国立金泽大学) in

Japan in March 1988 and September 1991, respectively.

李泽群博士（「李博士」），64岁，于二零一八年

八月二十日获委任为本公司的执行董事。彼于二

零一三年四月加入本集团，为本集团副总裁。于

二零一七年六月至二零一八年六月期间为津上精

密机床董事。彼亦为本集团管理本部长。于加入

本集团前，李博士于一九一年十月至二零

三年八月期间，于セイコーインスツル株式会

社(Seiko Instruments Inc.)任职。该公司主要从

事为电子产品部件及机床制造产品及系统。于

一九八年四月至二零三年八月，彼担任助

理经理，主要负责开发电子及机器部件。于二

零三年九月至二零一三年三月，李博士于カ

ルソニックカンセイ株式会社(Calsonic Kansei

Corporation)及其集团公司任职。彼主要负责

在中国制定业务策略及开展可行性研究；彼亦

担任カルソニックカンセイ株式会社(Calsonic

Kansei Corporation)的经理及カルソニックカン

セイ株式会社(Calsonic Kansei Corporation)的

一家中国集团成员公司的部长。李博士亦负责开

发生产技术、产品整合、品质保证及提供技术支

援。

李博士于一九八二年七月获中北大学（时称太原

机械学院）工程学士学位。并分别于一九八

年三月及一九一年九月在日本国立金泽大学取

得其工程学硕士学位及博士学位。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS AND SENIOR MANAGEMENT

董事及高级管理层

Non-executive Directors

Mr. Takao Nishijima (西嶋尚生) (“Mr. Nishijima”), aged 77, is the

non-executive Director of the Company. Mr. Nishijima joined the Group

since September 2003 and was apointed as a Director on 2 July 2013

and was redesignated as a non-executive Director on 13 May 2015. Mr.

Nishijima was the general manager of the sales development division of

Tsugami Japan (a company listed on the Tokyo Stock Exchange (TYO:

6101) and the managing director of Tsugami Kohan Co., Ltd. from May

1999 to June 2000. He acted as the director and general manager of the

sales development division, control headquarters of Tsugami Japan from

June 2000 to April 2003. Mr. Nishijima has served as the representative

director, chairman and chief executive director of Tsugami Japan since

April 2003, and was redesignated as the supreme advisor of Tsugami

Japan since 22 June 2022, and is primarily responsible for advising the

overal operation of Tsugami Japan.

Mr. Nishijima graduated with a bachelor degre of economics from the

faculty of economics of the University of Tokyo (东京大学) in April 1970.

Ms. Mami Matsushita (松下真実) (“Ms. Matsushita”), aged 61,

was apointed as the non-executive Director on 13 May 2015 and has

ben apointed as a member of nomination comite on 25 June

2025. She is primarily responsible for advising the overseas busines.

Ms. Matsushita joined the Group as a supervisor in January 2010 and

was apointed as the director of PTC in October 2010, where she was

primarily responsible for advising the overal management relating to

export or import maters. Ms. Matsushita is the representative director

and the head of overseas operation division of Tsugami Japan (a

company listed on the Tokyo Stock Exchange (TYO: 6101). From April

2010, she served as the president of Tsugami Europe GmbH and a

director of Tsugami Korea Co., Ltd., respectively, both of which are

subsidiaries of Tsugami Japan. From June 2013, Ms. Matsushita served

as a director of Tsugami Universal Pte. Ltd. and Tsugami Precision

Enginering India Private Limited, respectively, both of which are

subsidiaries of Tsugami Japan. From June 2002 to March 2010, Ms.

Matsushita was employed by Tokyo Seimitsu Co., LTD. (株式会社东京精

密), the shares of which were listed on the Tokyo Stock Exchange (TYO:

7729).

Ms. Matsushita obtained her bachelor’s degre in arts and master’s

degre in arts from Meiji University (明治大学) in Japan in March 1988

and March 1990, respectively.

非执行董事

西嶋尚生先生（「西嶋先生」），77岁，为本公司

非执行董事。西嶋先生自二零三年九月起加入

本集团，并于二零一三年七月二日获委任为董事

及于二零一五年五月十三日获调任为非执行董

事。西嶋先生于一九年五月至二零年六

月担任日本津上（于东京证券交易所上市（东证

所：6101）的销售开发部总经理及津上工贩株

式会社的董事总经理。彼于二零年六月至二

零三年四月担任日本津上销售开发部及控制总

部的总监及总经理。西嶋先生自二零三年四月

起出任日本津上代表董事、主席兼首席执行董

事，并自二零二年六月二十二日起调任为日本

津上最高顾问，主要负责就日本津上整体营运提

供意见。

西嶋先生于一九七零年四月毕业于东京大学经济

学院，获得经济学士学位。

松下真実女士（「松下女士」），61岁，于二零一

五年五月十三日获委任为本公司非执行董事，

并于二零二五年六月二十五日获委任为提名委

员会成员。彼主要负责就海外业务提供意见。

松下女士于二零一零年一月加入本集团担任监

事并于二零一零年十月获委任为津上精密机床

董事，主要负责就进出口事务的整体管理提供

意见。松下女士为日本津上（于东京证券交易所

上市（东证所：6101）代表董事及海外统括部

部门主管。自二零一零年四月起，彼分别担任

Tsugami Europe GmbH总裁及Tsugami Korea

Co., Ltd.的董事。该两家公司均为日本津上的

附属公司。自二零一三年六月起，松下女士分

别担任Tsugami Universal Pte. Ltd. 及Tsugami

Precision Enginering India Private Limited的董

事。该两家公司均为日本津上的附属公司。松下

女士于二零二年六月至二零一零年三月受聘于

株式会社东京精密（其股份于东京证券交易所上

市（东证所：7729）。

松下女士分别于一九八年三月及一九零年三

月获得日本明治大学文学士学位及文学硕士学

位。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS AND SENIOR MANAGEMENT

董事及高级管理层

Mr. Shoichiro Haga (羽贺胜一郎) (“Mr. Haga”), aged 53, has

ben apointed as a non-executive Director, a member of the Audit

Comite and a member of the Remuneration Comite on 25 June

2025. He joined Tsugami Japan (the controling shareholder of the

Company, whose shares are listed on the Tokyo Stock Exchange, (TYO:

6101) in March 2025, and curently serves as the representative director

and head of Administration of Tsugami Japan. Prior to joining Tsugami

Japan, Mr. Haga held various positions at The Hokuetsu Bank, Ltd. from

April 1995 to February 2025.

Mr. Haga graduated from Nigata University in 1995, majoring in law.

Independent Non-executive Directors

Mr. Kunimasa Ota (太田邦正)(“Mr. Ota”), aged 76, has ben

apointed as an independent non-executive Director of the Company

on 25 June 2025. From June 2002 to March 2021, he served various

positions in Tokyo Seimitsu Co., Ltd., a company listed on the Tokyo

Stock Exchange (TYO: 7729) and primary engaged in the manufacture

and sales of semiconductor production equipment and measuring

instruments. He was the external auditor of Tsugami Japan (the

controling shareholder of the Company, whose shares are listed on

the Tokyo Stock Exchange, (TYO: 6101) from June 2009 to June

2011. He has served as an Outside Director (Members of the Audit

and Supervisory Comite) of Tsugami Japan since June 2025 and is

regarded as a non-executive and independent director under aplicable

laws in Japan, including the Japanese Companies Act and Securities

Listing Regulations.

He curently serves as Corporate Auditor (Outside) of Asia Pile Holdings

Corporation, a company listed on the Tokyo Stock Exchange (TYO:

5288) and primarily engaged in the manufacture and sale of concrete

piles. He is also a councilor of Musashino Art University and auditor of

The Precise Measurement Technology Promotion Foundation.

Mr. Ota graduated from Kyoto University in 1971, majoring in Economics.

羽贺胜一郎先生（「羽贺先生」），53岁，于二零

二五年六月二十五日获委任为非执行董事、审核

委员会成员及薪酬委员会成员。彼于二零二五年

三月加入日本津上（本公司的控股东，其股份

于东京证券交易所上市（东证所：6101），现为

日本津上之代表董事及管理部门统括。于加入日

本津上前，羽贺先生于一九五年四月至二零二

五年二月在株式会社第四北越银行担任多个职

位。

羽贺先生于一九五年毕业于新泻大学法学部，

主修法学。

独立非执行董事

太田邦正先生（「太田先生」），76岁，于二零二

五年六月二十五日获委任为独立非执行董事。彼

于二零二年六月至二零二一年三月于株式会社

东京精密担任多个职位。株式会社东京精密于东

京证券交易所上市（东证所：7729），主要从事

制造及销售半导体制造设备及测量仪器。彼于

二零九年六月至二零一年六月担任日本津

上（本公司的控股东，其股份于东京证券交易

所上市（东证所：6101）之社外监事。彼于二零

二五年六月起为日本津上的社外董事（审核及监

察委员会委员），根据日本相关法律（包括《公司

法》及《证券上市规则》），彼被视为非执行和独

立董事。

太田先生现为Asia Pile Holdings Corporation之

社外监事，该公司于东京证券交易所上市（东证

所：5288），主要从事混凝土桩的制造和销售。

彼亦现为武藏野美术大学之评议员及公益财团法

人精密测定技术振兴财团之监事。

太田先生于一九七一年毕业于京都大学，主修经

济学。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS AND SENIOR MANAGEMENT

董事及高级管理层

Dr. Satoshi Iwabuchi (“Dr. Iwabuchi”), aged 66, has ben apointed

as an independent non-executive Director of the Company on 28 June

2023. He was the lecturer at the Schol of Medicine of Toho University

(东邦大学医学部) from February 1993 to December 2005. He served as

an asociate profesor from January 2006 to March 2008, subsequently

a profesor, from April 2008 to March 2025, in Department of

Neurosurgery of the Schol of Medicine of Toho University (东邦大学医学

部) in Japan. He served as a dean of the Toho University Ohashi Medical

Center (东邦大学医疗中心大桥医院) in Japan from July 2018 to June

2024. Since April 2025, Dr. Iwabuchi served as a dean of the Yokohama

General Hospital (横滨综合医院) in Japan.

Dr. Iwabuchi graduated from the Schol of Medicine of Toho University

(东邦大学) in 1984 and received his doctorate’s degre in medicine from

Schol of Medicine of Toho University (东邦大学) in Japan in 1988.

Dr. Huang Ping (黄平) (“Dr. Huang”), aged 62, was apointed as an

independent non-executive Director on 13 May 2015. He was apointed

as a member of audit comite and remuneration comite since 4

September 2017, and was redesignated as the chairman of remuneration

comite since 2 February 2018. He was also apointed as a member

of nomination comite since 1 April 2022. From April 1991 to May

1999, Dr. Huang served as manager of software enginering in Uniden

Corporation (ユニデン株式会社, now Uniden Holdings Corporation), a

company listed on the Tokyo Stock Exchange (TYO: 6815) and primarily

engaged in the manufacture and sales of wireles comunications

equipment, where he was a software group leader responsible for

development of various kinds of wireles comunication products. From

May 1999 to November 2001, Dr. Huang served in Mitsubishi Wireles

Comunications, Inc., a company engaged in the manufacture and sales

of wireles comunications equipment, where he was responsible for

design and implementation of TDMA/AMPS dual mode celular phone.

Dr. Huang had afterwards served various positions in CalAmp Corp., a

company whose shares are listed on NASDAQ stock market (NASDAQ:

CAMP) and which is a wireles comunication solutions provider. Since

July 2009, Dr. Huang has ben serving as the general manager of eSky

Wireles Inc. (苏州翼凯通信科技有限公司), a company engaged in the

development and sales of GSM and W-CDMA wireles comunications

modules, where he is responsible for research and development of

modules and products of GSM/GPRS for sales in North America, Japan

and PRC, etc.

Dr. Huang received his bachelor’s degre in wireles comunication

from Tsinghua University (清华大学) in July 1984. Dr. Huang obtained

his master’s degre and doctor’s degre, majoring in electrical and

electronic enginering, from Tokyo Institute of Technology (东京工业大学)

in March 1988 and March 1991, respectively.

岩渕聡博士（「岩渕博士」），66岁，于二零二三

年六月二十八日获委任为独立非执行董事。彼于

一九三年二月至二零五年十二月为东邦大学

医学部讲师。彼于二零六年一月至二零八年

三月担任日本东邦大学医学部脑神经外科学部副

教授并自二零八年四月至二零二五年三月升任

该学部教授。彼于二零一八年七月至二零二四年

六月担任日本东邦大学医疗中心大桥医院长。

自二零二五年四月起，岩渕博士担任横滨综合医

院长。

岩渕博士于一九八四年毕业于日本东邦大学医学

部，并于一九八年在日本东邦大学获得其医学

博士学位。

黄平博士（「黄博士」），62岁，于二零一五年五

月十三日获委任为独立非执行董事。于二零一七

年九月四日起获委任为审核委员会及薪酬委员

会成员，并于二零一八年二月二日起调任为薪

酬委员会主席，及于二零二年四月一日起获

委任为提名委员会成员。于一九一年四月至

一九年五月，黄博士于ユニデン株式会社

（Uniden Corporation，现称为Uniden Holdings

Corporation）担任软件工程经理。该公司于东京

证券交易所上市（东证所：6815），主要从事制

造及销售无线通信设备，期间黄博士曾担任软件

团队负责人，负责开发多种无线通信产品。于

一九年五月至二零一年十一月，黄博士

于Mitsubishi Wireles Comunications, Inc.任

职。该公司从事制造及销售无线通信设备，期间

彼负责设计及实现TDMA/AMPS双模手机。黄博

士其后出任CalAmp Corp.的多个职位。该公司

股份于纳斯达克证券市场上市（纳斯达克交易代

号：CAMP）且为无线通信解决方案供应商。自

二零九年七月起，黄博士出任苏州翼凯通信

科技有限公司总经理。该公司从事开发及销售

GSM及W-CDMA无线通信模块，期间彼负责研

发于北美、日本及中国等地销售的GSM/GPRS

模块及产品。

黄博士于一九八四年七月获清华大学无线通信学

士学位。黄博士分别于一九八年三月及一九

一年三月取得东京工业大学硕士及博士学位，主

修电气及电子工程。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS AND SENIOR MANAGEMENT

董事及高级管理层

Mr. Tam Kin Bor (谭建波) (“Mr. Tam”), aged 56, was apointed as the

independent non-executive Director of the Company on 12 December

2016. He was apointed as the chairman of audit comite and the

chairman of remuneration comite and a member of nomination

comite since 4 September 2017, and was redesignated as a

member of remuneration comite since 2 February 2018, and was

redesignated as the chairman of nomination comite since 1 April

2022. From September 1997 to March 2007, Mr. Tam worked in Ernst

and Young Hong Kong and Beijing ofices, and last served as a senior

manager. From March 2007 to June 2010, Mr. Tam served as vice

president for Deutsche Bank’s wholy-owned subsidiary, Cathay Advisory

(Beijing) Co., Ltd. Mr. Tam subsequently served as chief financial oficer

at Debao Property Development Ltd. (德宝房地产开发有限公司), a

company listed on the Singapore Stock Exchange (stock code: BTF)

and primarily engaged in property development, construction contracting

and property. Mr. Tam also served as chief financial oficer at Tianfang

Hospitality Management Pte. Ltd. (天房酒店基金管理有限公司), where

he was responsible for the overal finance and monitoring the financial

performance of a real estate investment trust company and preparation

of acounts. Curently, Mr. Tam is the Head of Compliance at Optima

Capital Limited.

Mr. Tam received his bachelor’s degre in acounting from Monash

University in Australia in August 1997. He is a member of the Asociation

of Certified Public Acountants in Australia and the Hong Kong Institute

of Certified Public Acountants. He pased the test relating to capital

markets and financial advisory services organised by the Institute of

Banking & Finance Singapore in August 2015.

谭建波先生（「谭先生」），56岁，于二零一六年

十二月十二日获委任为本公司的独立非执行董

事。于二零一七年九月四日起获委任为审核委员

会主席，薪酬委员会主席及提名委员会成员，并

于二零一八年二月二日起调任为薪酬委员会成

员，及于二零二年四月一日起调任为提名委员

会主席。于一九七年九月至二零七年三月，

谭先生曾于安永会计师事务所香港及北京办事处

工作，离职时担任高级经理。于二零七年三月

至二零一零年六月，谭先生担任德意志银行全资

附属公司Cathay Advisory (Beijing) Co., Ltd.的

副总裁。谭先生其后担任德宝房地产开发有限

公司（一家于新加坡证券交易所上市并主要从事

物业发展、承建商及物业的公司，股份代号：

BTF）的财务总监。谭先生亦担任天房酒店基金

管理有限公司财务总监，负责一家房地产投资信

托公司的总体财务及监督财务业绩及账目编制。

谭先生现于创越融资有限公司担任合规部主管。

谭先生于一九七年八月获得澳洲莫纳什大学

(Monash University)会计学士学位。彼为澳洲

会计师公会及香港会计师公会的会员。彼于二零

一五年八月通过新加坡银行金融协会组织的与资

本市场及财务顾问服务相关之测试。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS AND SENIOR MANAGEMENT

董事及高级管理层

Senior Management

Mr. Lin Hsin-Tze (林新泽) (“Mr. Lin”), aged 55, joined the Group since

January 2009 and is the vice president of the Group and a director of

PTC. He is primarily responsible for technical management of the Group.

From March 1994 to November 2003, Mr. Lin served as deputy manager

of the customer services team of Great Tung Ching Trading Co., Ltd

(同清贸易股份有限公司), which primarily engages in distribution of high

precision machine tols. From December 2003 to December 2008, Mr.

Lin served as a manager in the production team of Tsugami Japan and

was seconded to PTC as vice president from October 2004. Mr. Lin left

Tsugami Japan in December 2008. From August 2010 to March 2021,

Mr. Lin served as a director of Shinagawa Precision. From April 2018 to

March 2021, he served as a director of Anhui PTC.

Mr. Lin completed his education in vehicle repair from The Afiliated

Senior Industrial Vocational Continuing Education Schol Taoyuan Senior

Agricultural Vocational Schol of Taiwan (台湾省立桃园高级农工职业学校

附设高级工业职业进修补习学校) in Taiwan in June 1988.

Mr. Li Junying (李军营) (“Mr. Li”), aged 51, joined the Group since

November 2012 and is the senior asistant of president and financial

manager of the Group and was promoted to vice president in April 2025.

He is primarily responsible for financial administration of the Group. Mr.

Li served in Matsui Mfg. Co., Ltd. (株式会社松井制作所), a company

primarily engaged in manufacturing and sales of plastics procesing

equipment and systems from April 2007 to June 2012. From July 2012

to November 2012, Mr. Li served as the head of acounting department

in Tsugami Japan where he was primarily responsible for the acounting

maters.

Mr. Li obtained his bachelor degre in acounting from Huazhong

University of Science and Technology (华中科技大学) in the PRC

in October 2002. Mr. Li received degre of master in technology

management from Yokohama National University (横滨国立大学) in Japan

in September 2006.

高级管理层

林新泽先生（「林先生」），55岁，自二零九年

一月加入本集团，为本集团副总裁以及津上精密

机床董事。彼主要负责本集团的技术管理。于一

九四年三月至二零三年十一月，林先生出任

同清贸易股份有限公司（主要从事高精密机床的

分销）客户服务团队副经理。于二零三年十二

月至二零八年十二月，林先生出任日本津上生

产团队经理并自二零四年十月起借调至津上精

密机床担任副总裁。林先生于二零八年十二月

离开日本津上。于二零一零年八月至二零二一年

三月，林先生出任品川精密董事，于二零一八年

四月至二零二一年三月，林先生出任安徽津上董

事。

林先生于一九八年六月在台湾的台湾省立桃园

高级农工职业学校附设高级工业职业进修补习学

校完成汽车维修教育。

李军营先生（「李先生」），51岁，自二零一二年

十一月加入本集团，为本集团总裁特别助理兼财

务经理，于二零二五年四月晋升为副总裁。彼主

要负责本集团财务管理。于二零七年四月至二

零一二年六月，李先生受聘于株式会社松井制作

所(Matsui Mfg. Co., Ltd.)。该公司主要从事塑料

加工设备及系统制造及销售。于二零一二年七月

至二零一二年十一月，李先生出任日本津上会计

部长，主要负责会计事务。

李先生于二零二年十月获中国华中科技大学会

计学士学位。李先生于二零六年九月取得日

本横滨国立大学科技管理硕士学位。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS AND SENIOR MANAGEMENT

董事及高级管理层

Company Secretary

Ms. Wong Wai Ye Ela (黄慧儿) (“Ms. Wong”), aged 49, was

apointed as the company secretary of the Company in June 2015.

Ms. Wong is a director of corporate services of Tricor Services Limited

(“Tricor”), which is a global profesional services provider specializing

in integrated Busines, Corporate and Investor Services. Ms. Wong has

over 20 years of experience in the corporate services field and has ben

providing profesional corporate services to Hong Kong listed companies

as wel as multinational, private and ofshore companies. Ms. Wong

curently serves as the company secretary/joint company secretary for

a number of companies listed on The Stock Exchange of Hong Kong

Limited (the “Stock Exchange”).

Ms. Wong is a Chartered Secretary, a Chartered Governance

Profesional and a Felow of both The Hong Kong Chartered Governance

Institute (formerly known as The Hong Kong Institute of Chartered

Secretaries) and The Chartered Governance Institute (formerly known

as The Institute of Chartered Secretaries and Administrators). Ms. Wong

holds her bachelor degre in economics from The University of Hong

Kong and a Postgraduate Diploma in Corporate Administration from the

City University of Hong Kong.

公司秘书

黄慧儿女士（「黄女士」），49岁，于二零一五年

六月获委任为本公司的公司秘书。黄女士现为

卓佳专业商务有限公司（「卓佳」）企业服务部董

事。卓佳是全球性的专业服务公司，为客户提供

商务、企业及投资者综合服务。黄女士于企业

服务范畴拥有逾20年经验，一直为香港上市公

司，以及跨国公司、私人公司及离岸公司提供专

业的企业服务。黄女士现出任数间于香港联合

交易所有限公司（「联交所」）上市公司的公司秘

书╱联席公司秘书。

黄女士为特许秘书、特许企业管治专业人员，

以及香港公司治理公会（前称为香港特许秘书公

会）及特许公司治理公会（前称为特许秘书及行

政人员公会）的资深会员。黄女士持有香港大学

颁发的经济学士学位及香港城市大学发出的企

业行政深造文凭。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

CULTURE AND PURPOSE/VALUE/STRATEGY

OF CORPORATE GOVERNANCE

The Company strives to ensure that its afairs are conducted in

acordance with high ethical standards. This reflects our belief that, in

achieving our long-term objectives, it is imperative to act with probity,

transparency and acountability. By so acting, the Company believes

that shareholder return wil be maximized in the long term and that its

employes, busines partners and the comunities in which it operates

wil al benefit. For further details of the Company’s culture, please

refer to “Directors’ Report” and “Environmental, Social and Governance

Report” in this anual report.

Corporate governance is the proces by which the Board instructs

management of the Group to conduct its afairs with a view to ensuring

that its busines objectives are met. The Board is comited to

maintaining and developing robust corporate governance practices from

top to down within the Group and reinforcing governance acros al

departments that are intended to ensure:

;

• the interests of those who deal with the Company are

safeguarded;

• the overal busines risk is understod and managed

apropriately;

• the delivery of high-quality products and services to the

satisfaction of customers; and

• that high standards of busines ethics are maintained.

The execution and enforcement of the Company’s corporate governance

system is monitored by the Board with regular asesments and

procedures in place to enable Shareholders to evaluate how the

principles of corporate governance are aplied.

COMPLIANCE WITH CORPORATE

GOVERNANCE CODE

The Company and its Board recognize that sound corporate governance

could not only strengthen the acountability of management and the

confidence of investors, but also lay a favourable foundation for the long-

term development of the Group. The Company has adopted the code

provisions set out in the Corporate Governance Code (the “CG Code”,

including any modification and amendment from time to time) contained

in Apendix C1 to the Rules Governing the Listing of Securities on the

Stock Exchange (the “Listing Rules”) as its own code of corporate

governance. The Company periodicaly reviews its corporate governance

practices to ensure its continuous compliance with the CG Code.

企业管治文化及宗旨╱价值╱战

略

本公司致力确保经营业务时恪守高尚的职业操

守。这反映我们相信要实现长远的业务目标，必

须以诚实、透明和负责任的态度行事。本公司相

信如此行事可为股东取得长远及最大的回报，而

雇员、业务伙伴及公司营运业务的社区亦可受

惠。有关本公司文化的进一步详情，请参阅本年

报中的「董事会报告书」和「环境、社会及管治报

告」。

企业管治是董事会指导本集团管理层如何营运业

务以达到业务目标的过程。董事会致力在本集团

内部自上而下维持及建立完善的企业管治常规，

并加强各部门的管治，以确保：

及

本公司企业管治制度的执行及实施由董事会监

察，并设有定期评估及程序，让股东可评估如何

应用企业管治原则。

遵守企业管治守则

本公司及其董事会深知，良好的企业管治不仅可

加强管理层的问责性及投资者的信心，亦可为本

集团长远发展奠下良好基础。本公司已采纳联交

所证券上市规则（「上市规则」）附录C1所载企业

管治守则（「企业管治守则」，包括任何不时作出

的修改及修订）的守则条文为其本身的企业管治

守则。本公司定期检讨其企业管治常规以确保其

持续遵守企业管治守则。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

During the Year, the legal action which the Directors of the Company

may face is covered in the internal risk management and control of the

Company. As the Company considers that no aditional risk exists,

insurance arangements for Directors have not ben made as required

under code provision C.1.8 of the CG Code during the Year.

Pursuant to code provision C.2.1 of the CG Code, the roles of Chairman

and chief executive oficer should be separate and not performed by the

same individual. Dr. Tang Donglei is the Chairman and chief executive

of the Group which deviates from the CG Code, details and reasons of

which are set out in the section headed “Chairman and Chief Executive

Oficer” in this report.

Save as disclosed above, the Board considers that the Company has

complied with al code provisions of the CG Code during the Year.

MODEL CODE FOR SECURITIES

TRANSACTIONS BY DIRECTORS

The Company has adopted the Model Code for Securities Transactions

by Directors of Listed Isuers (the “Model Code”) as set out in Apendix

C3 to the Listing Rules as the code of conduct in respect of transactions

in securities of the Company by the Directors. Having made specific

enquiries with al the Directors, the Company confirms that al the

Directors have complied with the required standard as set out in the

Model Code during the Year.

于本年度，本公司董事可能面临的法律行动已涵

盖于本公司的内部风险管理及监控。由于本公司

认为不存在额外风险，故于本年度内并无根据企

业管治守则的守则条文第C.1.8条的规定为董事

作出保险安排。

根据企业管治守则的守则条文第C.2.1条，主席

与行政总裁的角色应有区分，并不应由一人同时

兼任。唐东雷博士为本集团主席及行政总裁，

偏离企业管治守则，有关详情及理由载于本报告

「主席及行政总裁」一节。

除上文所披露者外，董事会认为，于本年度，本

公司一直遵守企业管治守则的所有守则条文。

董事进行证券交易之标准守则

本公司已采纳上市规则附录C3所载上市发行人

董事进行证券交易的标准守则（「标准守则」）为

董事进行本公司证券交易的行为守则。向全体董

事作出具体查询后，本公司确认全体董事于本年

度一直遵守标准守则所规定的标准。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

BOARD

The powers and duties of the Board include convening general metings

of the Company and reporting the Board’s work at the general metings

of the Company, determining the busines and investment plans of

the Group, preparing the Group’s anual financial budgets and final

reports, formulating proposals for profit distributions and exercising

other powers, functions and duties as confered by the Company’s

articles of asociation (the “Articles of Asociation”). The Board is

also responsible for supervising the management of the Group and has

delegated the responsibility for daily management and operation of the

Group’s busineses to the management.

Save as disclosed in this anual report, there is no relationship (including

financial, busines, family or other material relevant relationship) among

the Board members.

During the Year, the Company has met the requirements of the Listing

Rules relating to the apointment of at least thre independent non-

executive Directors with at least one independent non-executive Director

posesing apropriate profesional qualifications, acounting or

related financial management expertise. At al times during the Year, the

independent non-executive Directors represented at least one-third of

the Board.

During the Year, the management has provided al members of the

Board with monthly updates in acordance with code provision D.1.2 of

the CG Code.

董事会

董事会的权力及职责包括召开本公司股东大会及

在本公司股东大会上汇报董事会的工作、确定本

集团的业务及投资计划、编制本集团的年度财务

预算及决算报告、制定溢利分配方案，以及行使

本公司组织章程细则（「组织章程细则」）赋予的

其他权力、职能及职责。董事会亦负责监督本集

团管理层并将本集团业务之日常管理及营运责任

下放予管理层。

除本年报披露外，董事会成员之间概无关系（包

括财务、业务、家庭或其他重大相关系）。

本公司于本年度一直符合上市规则的规定，委任

最少三名独立非执行董事，而其中最少一名独立

非执行董事具备适当专业资格、会计或相关财务

管理的专业知识。于本年度任何时间，独立非执

行董事均占董事会至少三分之一。

于本年度，管理层已根据企业管治守则之守则条

文第D.1.2条向所有董事会成员提供每月更新资

料。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

BOARD COMPOSITION

During the Year and up to the date of this report, the members of the

Board have ben and are:

Executive Directors:

Dr. Tang Donglei (Chairman and Chief Executive Oficer)

Dr. Wang Xiaokun

(apointed on 25 June 2025)

Dr. Li Zequn

Non-executive Directors:

Mr. Takao Nishijima

Ms. Mami Matsushita

Mr. Kenji Yoneyama

(resigned on 25 June 2025)

Mr. Shoichiro Haga

(apointed on 25 June 2025)

Independent Non-executive Directors:

Mr. Kunimasa Ota

(apointed on 25 June 2025)

Dr. Satoshi Iwabuchi

Dr. Huang Ping

Mr. Tam Kin Bor

The list of Directors (by category) is also disclosed in al corporate

comunications isued by the Company from time to time pursuant to

the Listing Rules. The independent non-executive Directors are expresly

identified in al corporate comunications of the Company pursuant to

the Listing Rules. The biographical details of the Directors are set out

under the section headed “Directors and Senior Management” in this

report.

董事会组成

于本年度及直至本报告日期，董事会成员为：

执行董事：

唐东雷博士（主席及行政总裁）

王晓坤博士

（于二零二五年六月二十五日获委任）

李泽群博士

非执行董事：

西嶋尚生先生

松下真実女士

米山贤司先生

（于二零二五年六月二十五日辞任）

羽贺胜一郎先生

（于二零二五年六月二十五日获委任）

独立非执行董事：

太田邦正先生

（于二零二五年六月二十五日获委任）

岩渕聡博士

黄平博士

谭建波先生

董事列表（按类别划分）亦根据上市规则披露于

本公司不时刊发的所有公司通讯内。独立非执行

董事均根据上市规则在本公司所有公司通讯中列

明。董事的履历详情载于本报告「董事及高级管

理层」一节。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

RESPONSIBILITIES OF THE BOARD

The Board should asume responsibility for leadership and control of the

Company and is colectively responsible for directing and supervising the

Company’s afairs.

The Board directly, or indirectly through its comites, leads and

provides direction to management by laying down strategies and

overseing their implementation, monitors the Group’s operational and

financial performance, and ensures that sound internal control and risk

management systems are in place.

Al Directors, including non-executive Directors and independent non-

executive Directors, have brought a wide spectrum of valuable busines

experience, knowledge and profesionalism to the Board for its eficient

and efective functioning. The independent non-executive Directors are

responsible for ensuring a high standard of regulatory reporting of the

Company and providing a balance in the Board for bringing efective

independent judgement on corporate actions and operations.

Al Directors have ful and timely aces to al the information of the

Company and may sek independent profesional advice in apropriate

circumstances for discharging their duties to the Company.

The Directors shal disclose to the Company details of other ofices held

by them.

The Board reserves its decision on al major maters relating to policy

maters, strategies and budgets, internal control and risk management,

material transactions (in particular those that may involve conflict of

interests), financial information, apointment of Directors and other

significant operational maters of the Company. Responsibilities relating

to implementing decisions of the Board and directing and cordinating

the daily operation and management of the Company are delegated to

the management.

董事会责任

董事会应承担领导和管理公司的责任；并全面负

责指导和监督公司的事务。

董事会直接或间接地通过其委员会领导和指导管

理层，制定战略并监督其实施，监督集团的运营

和财务表现，并确保建立健全的内部监控和风险

管理系统。

所有董事，包括非执行董事和独立非执行董事，

都为董事会带来了广泛的宝贵的商业经验、知识

和专业精神，使其能够高效和有效地运作。独立

非执行董事负责确保公司有高标准的监管报告，

并在董事会中提供平衡，以便对企业行动和运营

作出有效的独立判断。

所有董事都可以充分和及时地获取公司的所有资

讯，并可在适当的情况下寻求独立的专业意见以

履行其对公司的职责。

董事应向公司披露他们所担任的其他职务的细

节。

董事会保留所有与政策事项、战略和预算、内部

监控和风险管理、重大交易（特别是可能涉及利

益冲突的交易）、财务资讯、董事任命和公司其

他重大运营事项有关的重大事项的决定。董事会

可授权管理层有关执行董事会的决定、指导和协

调公司的日常运作和管理的责任。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

CHAIRMAN AND CHIEF EXECUTIVE OFICER

Pursuant to code provision C.2.1 of the CG Code, the roles of Chairman

and chief executive oficer should be separate and should not be

performed by the same individual. Dr. Tang Donglei is the Chairman

and chief executive oficer of the Group, which deviates from the

relevant code provision of the CG Code. However, the Board believes

that it is in the interests of the Company to vest the roles of both the

Chairman and the chief executive oficer in the same person, so as to

provide consistent leadership within the Group and facilitate the prompt

execution of the Group’s busines strategies and bost operation

efectivenes. The Board also believes that the balance of power and

authority under this arangement wil not be impaired, as al major

decisions must be made in consultation with the Board as a whole

and its relevant comites, which comprise experienced individuals,

together with the independent non-executive Directors who are in the

position to provide independent insights and monitor the management

and operation of the Company. The Board wil periodicaly review and

consider the efectivenes of this arangement by taking into acount the

circumstances of the Group as a whole.

NON-EXECUTIVE DIRECTORS (INCLUDING

INDEPENDENT NON-EXECUTIVE

DIRECTORS)

The non-executive Directors (including the independent non-executive

Directors), who have diversified industry expertise but are not involved in

the day-to-day management of the Group, serve the important function

of advising the Board on strategic development of the Group, and

ensure that the Board maintains high standards of financial and other

mandatory reporting as wel as provides adequate checks and balances

for safeguarding the interests of the Company and the Shareholders as a

whole. The Company has received confirmations of independence from

al existing independent non-executive Directors and considers them

independent, in acordance with Rule 3.13 of the Listing Rules. Each

of the non-executive Directors (including the independent non-executive

Directors) has entered into a service contract or an apointment leter

(as the case may be) with the Company for a fixed term of thre years,

subject to retirement by rotation in acordance with the Articles of

Asociation.

主席及行政总裁

根据企业管治守则的守则条文第C.2.1条规定，

主席及行政总裁的角色应有区分，并不应由一人

同时兼任。唐东雷博士为本集团主席及行政总

裁，偏离企业管治守则的有关守则条文。然而，

董事会相信，由同一人士担任董事会主席及行政

总裁符合本公司的利益，有助于在本集团内提供

一致的领导及促进本集团业务策略的迅速执行并

提高运营效率。董事会亦相信，由于所有重大决

定都必须在与整个董事会及其相关委员会磋商后

作出，这些委员会由经验丰富的人士组成，连同

独立非执行董事提供独立见解并监察本公司的管

理及营运，因此安排下的权力和授权平衡不会

受到损害。董事会将根据本集团的整体情况，定

期检讨及考虑此安排的有效性。

非执行董事（包括独立非执行董

事）

具备不同行业专才的非执行董事（包括独立非执

行董事）并无参与本集团的日常管理，彼等担任

就本集团策略制定向董事会提供建议的重要职

责，及确保董事会维持高标准的财务及其他强制

性报告，以及就维护本公司与股东的整体利益作

出适当检查及平衡。本公司已接获所有现任独立

非执行董事的独立性确认函，故认为彼等按上市

规则第3.13条均属独立。各非执行董事（包括独

立非执行董事）已与本公司订立服务合约或委任

函（视情况而定），固定任期为三年，惟须根据

组织章程细则轮席退任。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

BOARD INDEPENDENCE EVALUATION

The Company has established a Board Independence Evaluation

Mechanism which sets out the proceses and procedures to ensure

a strong independent element on the Board, which alows the Board

to efectively exercises independent judgment to beter safeguard

Shareholders’ interests.

The objectives of the evaluation are to improve Board efectivenes,

maximise strengths, and identify the areas that ned improvement or

further development. The regular evaluation proces also clarifies what

actions of the Company ned to be taken to maintain and improve the

Board performance, for instance, adresing individual training and

development neds of each Director.

Pursuant to the Board Independence Evaluation Mechanism, the

Board wil conduct anual review on its independence. The Board

Independence Evaluation Report wil be presented to the Board which

wil colectively discus the results and the action plan for improvement,

if apropriate.

The Board believes that the independent non-executive Directors

constituting more than one-third of the Board provides adequate

checks and balances that safeguard the interests of the Shareholders

and the Group. Al our independent non-executive Directors poses

diferent backgrounds with a diverse range of busines, financial services

and profesional experience, and poses diversified expertise, skils

and experience. Their views and participation in Board metings and

comites’ metings bring independent judgment and advice on

isues relating to the Group’s strategies, prospects, internal control and

conflicts of interest, and ensure that the interests of the Shareholders

are wel taken into acount.

During the Year under Review, the independence asesment for al the

Directors has ben completed individualy. The Board Independence

Evaluation Report was presented to the Board and the evaluation results

were satisfactory.

During the Year under Review, the Board reviewed the implementation

and efectivenes of the Board Independence Evaluation Mechanism and

the results were satisfactory.

董事会独立性评估

本公司已建立了董事会独立性评估机制，制定了

确保董事会具有强大独立性的流程和程序，使董

事会能够有效地行使独立判断，以保障股东利

益。

评估的目标是提高董事会的效率以最大限度地发

挥优势，并确定需要改进或进一步发展的领域。

评估过程还明确了公司需要采取哪些行动来维持

和提高董事会绩效，例如，解决每位董事的个人

培训和发展需求。

根据董事会独立性评估机制，董事会每年对其独

立性进行审查。董事会独立性评估报告将提交给

董事会，董事会将集体讨论结果和改进行动计划

（如需要）。

董事会相信，独立非执行董事占董事会三分之一

以上能充分发挥平衡作用，以保障股东及本集团

的利益。本公司所有独立非执行董事都来自不同

的背景，并在商业、金融服务和专业经验方面，

拥有多元化的专业知识、技能和经验。彼等提出

的意见及透过参与董事会议及委员会议，对

有关本集团策略、前景、内部监控及利益冲突的

问题带来独立判断及意见，并确保股东之利益得

到充分考虑。

于回顾年度，所有董事均已单独完成独立性评

估，并向董事会提交了董事会独立性评估报告，

评估结果令人满意。

于回顾年度，董事会审核了董事会独立性评估机

制的实施情况和有效性，结果令人满意。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

CONTINUOUS PROFESIONAL

DEVELOPMENT OF DIRECTORS

Each Director, including Dr. Wang Xiaokun, Mr. Shoichiro Haga and Mr.

Kunimasa Ota, has received induction upon his/her apointment by the

listed company to ensure apropriate understanding of the busines

and operations of the Company and ful awarenes of Director’s

responsibilities and obligations under the Listing Rules and relevant

statutory requirements and the busines and governance policies of the

Company.

Pursuant to code provision C.1.4 of the CG Code, al Directors should

participate in continuous profesional development to refresh their

knowledge and skils. The existing Directors are continualy updated on

changes and developments of the Company’s busines and on the latest

developments in the laws, regulations and rules relating to Directors’

duties and responsibilities. Directors’ training is an ongoing proces. Al

Directors of the Company are encouraged to atend relevant training

courses at the Company’s expense.

Al Directors have participated in apropriate continuous profesional

development and provided the Company with their records of training

they received during the Year.

董事的持续专业发展

每位董事（包括王晓坤博士、羽贺胜一郎先生及

太田邦正先生）均于其获上市公司委任时接受入

职介绍，以确保其适当了解本公司的业务及营运

以及完全知悉上市规则及相关法定规定和本公司

业务及管治政策项下的董事责任及义务。

根据企业管治守则之守则条文第C.1.4条，全体

董事均须参与持续专业发展和更新其知识和技

能。现任董事会不断获知有关本公司业务变动和

发展及有关董事职责及责任的法律、法规及规例

的最新发展资料。董事培训是一个持续过程，本

公司鼓励全体董事出席相关培训课程，有关费用

由本公司负担。

全体董事均已参与适当持续专业发展并向本公司

提供其于本年度参加的培训记录。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

A sumary of the training received by the Directors for the Year and up

to the date of this anual report is set out below:

Note:

1. Resigned on 25 June 2025

A: Atending in-house training/external seminars/briefings/conference/forums and

workshops

B: Reading newspapers, journals and updates relating to economy, general busines,

corporate governance and directors’ duties and responsibilities

董事于本年度及直至本年报日期所接受培训的概

要载列如下：

Type of Training

Name of Director董事姓名培训类型

Executive Directors:执行董事：

Dr. Tang Donglei (Chairman and Chief Executive Oficer)唐东雷博士（主席及行政总裁）A and B A及B

Dr. Li Zequn李泽群博士A and B A及B

Non-executive Directors:非执行董事：

Mr. Takao Nishijima西嶋尚生先生A and B A及B

Ms. Mami Matsushita松下真実女士A and B A及B

Mr. Kenji Yoneyama (Note 1)米山贤司先生（附注1）A and B A及B

Independent non-executive Directors:独立非执行董事：

Dr. Satoshi Iwabuchi 岩渕聡博士A and B A及B

Dr. Huang Ping黄平博士A and B A及B

Mr. Tam Kin Bor谭建波先生A and B A及B

附注：

1. 于二零二五年六月二十五日辞任

A: 出席内部培训╱外部研讨会╱简介会╱会议╱论坛

及工作坊

B: 阅读报章、期刊及有关经济、一般商业、企业管治以

及董事职责及责任之最新资讯

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

BOARD METINGS

The Company considers that the Board should met regularly so that

al Directors are updated with the busines development of the Group.

Special metings wil be convened by the Board if the situation requires

so. During the Year, the Board convened a total of four Board metings.

Directors have received the meting agenda for decision and relevant

meting documents prior to each Board meting. Al Directors received

adequate information, which are acurate, clear, complete and reliable,

in a timely maner and are properly briefed on isues arising at Board

metings. A notice of at least 14 days is given before regular Board

metings and reasonable notice is given for other Board metings, so

that al Directors have an oportunity to include maters in the agenda

for regular Board metings. Board minutes are kept by the secretary of

the Board and are available for inspection by the Directors. Every Board

member is entitled to have aces to Board papers which are sent to

Directors at least 3 days prior to the meting and related materials and

has aces to the advice and services of the company secretary at

any time, and has the liberty to sek external profesional advice if so

required at the Company’s expense.

Apart from the Board metings, the Chairman also held a meting with

al independent non-executive Directors without the presence of other

Directors.

董事会议

本公司认为董事会须定期召开会议，致使董事获

悉本集团的业务发展。如有需要，董事会将召开

特别会议。于本年度，董事会共召开四次董事会

会议。

董事已于每次董事会议前收到会议的决策议程

及相关会议文件。全体董事均及时收到准确、清

晰、完整及可靠的充足资料，并适当知悉董事会

会议上提出的事项。定期董事会议的通告于会

议召开前至少14天发出，而董事会其他会议的

通告于合理时间内发出，因此全体董事均有机会

于定期董事会议之议程内列入商讨事项。董事

会议记录由董事会秘书保存，并可供董事查

阅。每位董事会成员均有权查阅会议召开前至少

3天寄发予董事的董事会文件及相关资料，并可

随时获公司秘书提供意见及服务，以及于有需要

时寻求外部专业意见，费用由本公司负担。

除董事会议外，主席亦主持一次全体独立非执

行董事出席且其他董事未出席之会议。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

BOARD COMITES

Audit Comite

The Company has established an audit comite of the Company

(the “Audit Comite”) on 4 September 2017 with writen terms

of reference in compliance with Rule 3.21 of the Listing Rules and

paragraph D.3 of the CG Code as set out in Apendix C1 of the Listing

Rules, which are available on the websites of the Stock Exchange and

the Company.

During the Year, the Audit Comite was composed of thre members,

namely Mr. Kenji Yoneyama, Mr. Tam Kin Bor, and Dr. Huang Ping, of

whom Mr. Kenji Yoneyama is a non-executive Director, and Mr. Tam Kin

Bor and Dr. Huang Ping are independent non-executive Directors. The

chairman of the Audit Comite is Mr. Tam Kin Bor.

On 25 June 2025, Mr. Kenji Yoneyama resigned as a non-executive

Director and as a member of the Audit Comite, and Mr. Shoichiro

Haga was apointed as a non-executive Director and a member of the

Audit Comite.

The primary duties of the Audit Comite include, among others,

reviewing the financial statements, anual reports and acounts and

interim reports of the Group, making recomendations in respect of the

apointment, re-apointment and removal of external auditor, reviewing

and supervising the financial reporting proces, risk management and

internal control system of the Group, supervising ESG maters, and

reviewing the acounting policies and practices adopted by the Group.

During the Year, the Audit Comite held two metings to review,

ases and coment on the audited consolidated financial statements

for the year ended 31 March 2024 and the unaudited consolidated

financial statements for the six months ended 30 September 2024,

respectively. It has also reviewed the efectivenes of the risk

management and internal control systems and internal audit functions of

the Group. Meanwhile, the Audit Comite also performed the folowing

duties:

(1) making recomendations to the Board on the re-apointment of

external auditor and aproving their remuneration and terms of

engagement;

董事委员会

审核委员会

本公司于二零一七年九月四日遵照上市规则第

3.21条及上市规则附录C1所载企业管治守则D.3

段成立本公司的审核委员会（「审核委员会」），

并订明书面职权范围（可于联交所及本公司网站

查阅）。

于本年度，审核委员会由三名成员组成，分别为

米山贤司先生、谭建波先生及黄平博士，其中米

山贤司先生为非执行董事，而谭建波先生及黄平

博士为独立非执行董事。审核委员会主席为谭建

波先生。

于二零二五年六月二十五日，米山贤司先生辞任

非执行董事及审核委员会委员，羽贺胜一郎先生

获委任为非执行董事及审核委员会委员。

审核委员会的主要职责为（其中包括）审阅本集

团的财务报表、年度报告及账目，以及中期报

告，就外聘核数师的委任，重新委任及罢免提供

建议、检讨及监督本集团的财务申报程序、风险

管理及内部监控系统，监督ESG事宜，以及就本

集团采纳之会计政策及实务进行检讨。

于本年度，审核委员会举行了两次会议，分别以

审阅、评估及对截至二零二四年三月三十一日止

年度的经审核综合财务报表和截至二零二四年九

月三十日止六个月的未经审核综合财务报表作出

评价。其亦审阅了本集团风险管理及内部监控系

统的有效性及内部审核功能。同时，审核委员会

还履行其职责如下：

(1) 就外聘核数师的重新委任向董事会提供

建议，以及批准外聘核数师的薪酬及聘

用条件；

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

’s independence

and objectivity and the efectivenes of the audit proces in

acordance with aplicable standards; discusing with the

external auditor the nature and scope of the audit and reporting

obligations; and

(3) implementing the policy of the Company on engaging external

auditor to provide non-audit services.

The Group’s audited consolidated anual results for the Year have also

ben reviewed by the Audit Comite, which is of the opinion that

the preparation of such results is in compliance with the aplicable

acounting standards and requirements and that adequate disclosure

has ben made.

Remuneration Comite

The Company has established a remuneration comite of the

Company (the “Remuneration Comite”) on 4 September 2017 with

writen terms of reference in compliance with Rule 3.25 of the Listing

Rules and paragraph E.1 of the CG Code as set out in Apendix C1

of the Listing Rules, which are available on the websites of the Stock

Exchange and the Company.

During the Year, the Remuneration Comite was composed of thre

members, namely Dr. Huang Ping, Mr. Tam Kin Bor, and Dr. Tang

Donglei, of whom Dr. Huang Ping and Mr. Tam Kin Bor are independent

non-executive Directors, and Dr. Tang Donglei is the Chairman, chief

executive oficer, and an executive Director. The chairman of the

Remuneration Comite is Dr. Huang Ping.

On 25 June 2025, Dr. Tang Donglei resigned as a member of the

Remuneration Comite, and Mr. Shoichiro Haga was apointed as a

non-executive Director and a member of the Remuneration Comite.

The primary duties of the Remuneration Comite include, among

others, making recomendations to the Board regarding the

policy and structure for the remuneration of al Directors and senior

management of the Group and on the establishment of formal and

transparent procedures for developing remuneration policies, making

recomendations to the Board on the remuneration packages of

Directors and senior management of the Group and reviewing and

aproving the management’s remuneration proposals with reference to

the Board’s corporate goals and objectives, asesing performance of al

Directors and senior management and reviewing and aproving maters

relating to share schemes. The remuneration policy for the Directors and

senior management members of the Group is based on their experience,

level of responsibility and general market conditions. Any discretionary

bonus and other merit payments are linked to the profit performance of

the Group and the individual performance of the Directors and senior

management members of the Group.

(2) 按适用标准监察外聘核数师是否独立客

观及核数程序是否有效；与外聘核数师

讨论核数性质，范畴及有关申报责任；

及

(3) 执行本公司委聘外聘核数师提供非核数

服务的政策。

本集团于本年度的经审核综合年度业绩亦已由审

核委员会审阅，审核委员会认为编制该等业绩符

合适用的会计准则及要求，且已作出详细的披

露。

薪酬委员会

本公司于二零一七年九月四日遵照上市规则第

3.25条及上市规则附录C1所载企业管治守则E.1

段成立本公司的薪酬委员会（「薪酬委员会」），

并订明书面职权范围（可于联交所及本公司网站

查阅）。

于本年度，薪酬委员会由三名成员组成，分别为

黄平博士、谭建波先生及唐东雷博士，其中黄平

博士及谭建波先生为独立非执行董事，而唐东雷

博士为主席、行政总裁兼执行董事。薪酬委员会

主席为黄平博士。

于二零二五年六月二十五日，唐东雷博士辞任薪

酬委员会委员，羽贺胜一郎先生获委任为非执行

董事及薪酬委员会委员。

薪酬委员会的主要职责为（其中包括）就全体董

事及本集团的高级管理层的薪酬政策及架构，以

及就建立有关制订薪酬政策的正式透明程序，向

董事会提出建议，就董事及本集团高级管理层的

薪酬待遇向董事会提出建议，及参考董事会的公

司目标及宗旨，审阅及批准管理层的薪酬建议，

评估全体董事及高级管理层的表现及审阅及批准

股份计划有关事项。董事及本集团高级管理层成

员的薪酬政策乃按彼等的经验、责任程度及整体

市况制订。任何酌情花红及其他奖励报酬乃与本

集团的溢利表现以及董事及本集团高级管理层成

员的个别表现挂钩。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

During the Year, one meting was held by the Remuneration Comite

to:

1) consider the share award scheme for 2024 to grant awarded

shares to the executive oficers, directors and important cadres

and core talents of the Group and related entities; and

2) review the remuneration policies on each operational staf of the

Group. Such remuneration policies are considered to be in line

with the market standards in the industry in which the Group

operates.

In respect of the awarded shares granted during the Year, the

Remuneration Comite considers that the scheme is intended to

reward eligible participants who have contributed to the busines

development of the Group and to encourage eligible participants to

work towards enhancing the value of the Company for the benefit

of the Company and the Shareholders as a whole. In adition, the

Remuneration Comite also considers that:

(i) the grantes in relation to the grant of awarded shares on 7

March 2025 (the “Grantes”) are eligible participants under the

scheme who have contributed directly to the overal busines

performance and sustainable development of the Group;

(i) the grant of awarded shares to the Grantes is a recognition for

their past contributions to the Group; and

(i) the awarded shares are subject to the terms of the scheme,

which provides for circumstances under which the awarded

shares may lapse.

Therefore, the Remuneration Comite is of the view that the grant

of awarded shares without any performance target and clawback

mechanism aligns with the purpose of the scheme.

于本年度，薪酬委员会曾举行一次会议，内容有

关：

1) 审议二零二四年度股份奖励计划，向本

集团及关联实体执行役员、董事及重要

干部、核心人才等授出奖励股份；及

2）审阅本集团各经营人员之薪酬政策，结

果认为该薪酬政策与本集团所属行业之

公司市场标准一致。

就本年度授予的奖励而言，薪酬委员会认为，本

计划旨在奖励对本集团的业务发展作出贡献的合

资格参与者，并鼓励合资格参与者为本公司及股

东的整体利益而努力提升本公司的价值。此外，

薪酬委员会亦认为：

(i) 二零二五年三月七日授予奖励股份涉及

的承授人（「承授人」）是为本集团的整体

业务表现及可持续发展作出直接贡献的

本计划下合资格参与者；

(i) 向承授人授予奖励股份乃为认可彼等过

去对本集团的贡献；及

(i) 奖励股份受本计划的条款所规限，当中

订明购奖励股份在何种情况下可能失效。

因此，薪酬委员会认为在并无业绩目标及退扣机

制情况下授予奖励股份符合本计划的目的。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

高级管理层薪酬

于本年度内，高级管理层薪酬范围如下：

Number of

individuals

Remuneration band薪酬等级人数

HK$1,000,001 to HK$1,500,0001,000,001港元至1,500,000港元1

HK$1,500,001 to HK$3,000,0001,500,001港元至3,000,000港元2

提名委员会

本公司于二零一七年九月四日遵照上市规则附录

C1所载企业管治守则B.3段及企业管治报告成立

本公司的提名委员会（「提名委员会」），并订明

书面职权范围（可于联交所及本公司网站查阅）。

于本年度，提名委员会由三名成员组成，分别为

西嶋尚生先生、谭建波先生及黄平博士，其中西

嶋尚生先生为非执行董事，而谭建波先生及黄平

博士为独立非执行董事。提名委员会主席为谭建

波先生。

于二零二五年六月二十五日，西嶋尚生先生辞任

提名委员会委员，非执行董事松下真実女士获委

任为提名委员会委员。

提名委员会的主要职责为（其中包括）考虑及向

董事会推荐合适资格可担任董事的人士，负责定

期及于需要时检讨董事会架构、人数及组成，评

估独立非执行董事的独立性，以及就委任或重新

委任董事及董事（尤其是主席及行政总裁）继任

计划向董事会提出建议。

于本年度，提名委员会曾举行一次会议。提名委

员会已就重选于本公司截至二零二四年三月三十

一日止年度股东周年大会上退任的所有退任董事

向董事会提出意见。提名委员会也审阅了董事会

之架构、规模、组成及董事会成员多元化，及董

事最新背景资料的适切性，并评估独立非执行董

事之独立性。

Remuneration of Senior Management

During the Year, senior management’s remuneration fals within the

folowing band:

Nomination Comite

The Company has established a nomination comite of the Company

(the “Nomination Comite”) on 4 September 2017 with writen terms

of reference in compliance with paragraph B.3 of the CG Code as set

out in Apendix C1 of the Listing Rules and the Corporate Governance

Report, which are available on the websites of the Stock Exchange and

the Company.

During the Year, the Nomination Comite was composed of thre

members, namely Mr. Takao Nishijima, Mr. Tam Kin Bor, and Dr. Huang

Ping, of whom Mr. Takao Nishijima is a non-executive Director, and

Mr. Tam Kin Bor and Dr. Huang Ping are independent non-executive

Directors. The chairman of the Nomination Comite is Mr. Tam Kin

Bor.

On 25 June 2025, Mr. Takao Nishijima resigned as a member of the

Nomination Comite, and Ms. Mami Matsushita, a non-executive

Director, was apointed as a member of the Nomination Comite.

The primary duties of the Nomination Comite include, among others,

considering and recomending to the Board suitably qualified persons

to act as Directors, reviewing the structure, size and composition

of the Board on a regular basis and as required, evaluating the

independence of the independent non-executive Directors and making

recomendations to the Board on the apointment or re-apointment

of Directors and the sucesion planing for Directors, in particular the

chairman and the chief executive oficer.

During the Year, one meting was held by the Nomination Comite.

Recomendations have ben made by the Nomination Comite to

the Board for the re-election of al retired Directors who retired at the

anual general meting of the Company for the year ended 31 March

2024. The Nomination Comite has also reviewed the structure,

size, composition and diversity of the Board and the suitability of latest

background information of Directors, and asesed the independence of

independent non-executive Directors.

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

多元化政策

本公司已采纳董事会成员多元化政策（「多元化

政策」），摘要载列如下：

(1) 构想

本公司明白并深信董事会成员多元化对

提升公司的表现素质裨益良多。本公司

认为，在董事会层面增加多元化，包括

性别多元化，是其支持可持续发展、保

持竞争优势和增强从尽可能广泛的可用

人才中吸引、留住和激励员工的能力的

重要因素。

(2) 政策声明

提名委员会将每年检讨董事会的架构、

规模及组成，并在适当情况下就董事会

的变动提出建议，以配合本公司的企业

策略，并确保董事会保持多元化的平

衡。在检讨及评估董事会的组成时，提

名委员会致力在各层面保持多元化，并

会考虑多个方面，包括但不限于专业及

行业经验、技能及知识、性别、年龄、

文化及教育背景。

(3) 可量测的目标

本公司的目标是保持与本公司业务增长

相关的多元化观点的适当平衡，并致力

于确保各级（从董事会向下）的招聘和甄

选实践具有适当的结构，以便考虑多样

化的候选人。

提名委员会将定期讨论，并在必要时就

实现董事会多元化（包括性别多元化）的

可衡量目标、如何以及何时实现董事会

的性别多元化、为实现董事会性别多元

化设定的数字目标和时间表，以及为培

养董事会潜在继任者以实现性别多元化

而采取的措施达成一致。提名委员会将

就上述事宜向董事会提出建议，供董事

会采纳及考虑。特别是，提名委员会将

确定并向董事会提出实施计划的建议，

这些计划将有助于发展更广泛和更多样

化的熟练和有经验的员工，使他们的技

能可为他们担任董事会职位及时做好准

备。

Diversity Policy

The Company has adopted a diversity policy for members of the Board

(the “Diversity Policy”), a sumary of which is set out as folows:

(1) Vision

The Company recognizes and embraces the benefits of having

a diverse Board to enhance the quality of its performance. The

Company ses an increasing level of diversity, including gender

diversity, at the Board level as an esential element contributing

to the sustainable development of the Company, maintaining its

competitive advantage and enhancing its ability to atract, retain

and motivate employes from the widest posible pol of available

talent.

(2) Policy Statement

The Nomination Comite wil review anualy the structure,

size and composition of the Board and where apropriate, make

recomendations on changes to the Board to complement the

Company’s corporate strategy and to ensure that the Board

maintains a balanced and diverse profile. In relation to reviewing

and asesing the Board composition, the Nomination Comite

is comited to diversity at al levels and wil consider a number

of aspects, including but not limited to profesional and industry

experience, skils and knowledge, gender, age, cultural and

educational background, etc.

(3) Measurable Objectives

The Company aims to maintain an apropriate balance of diversity

perspectives that are relevant to the Company’s busines

growth and is also comited to ensuring that recruitment and

selection practices at al levels (from the Board downwards) are

apropriately structured so that a diverse range of candidates are

considered.

The Nomination Comite wil discus periodicaly and when

necesary, agre on the measurable objectives for achieving

diversity, including gender diversity, on the Board, how and when

gender diversity wil be achieved in respect of the Board, the

numerical targets and timelines set for achieving gender diversity

on the Board and the measures adopted to develop a pipeline

of potential sucesors to the Board to achieve gender diversity.

The Nomination Comite wil make recomendations in relation

to the aforesaid to the Board for adoption and consideration.

In particular, the Nomination Comite wil identify and make

recomendations to the Board on implementation of programs

that wil asist in the development of a broader and more diverse

pol of skiled and experienced employes that, in time, their skils

wil prepare them for Board positions.

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

(4) 监控与报告

提名委员会将监察多元化政策的落实情

况。提名委员会将每年在公司年度报告

所载的企业管治报告中，报告一份关于

多元化政策的摘要、董事会为实施多元

化政策而通过的可衡量目标和相关计

划、实现这些目标的进展情况、如何以

及何时在董事会实现性别多元化、为实

现董事会性别多元化而设定的数字目标

和时间表，以及为培养董事会潜在继任

者以实现性别多元化而采取的措施。

(5) 审查多元化政策

提名委员会将不时且至少每年审查多元

化政策，以确保多元化政策的有效性。

提名委员会将讨论任何可能需要的修

订，并将任何修订建议提交董事会审议

和批准。

董事会目前有一名女性成员，董事会认为已在董

事会层面实现了性别多元化。本公司旨在维持至

少一名女性董事，严格遵守上市规则的性别多元

化要求。

提名委员会检讨了董事会的结构、规模及多样

性，以确保其组成符合上市规则，并适当组合了

与公司战略、管治及业务有关的技能、经验及多

样性，并有助于董事会的效能及效率。提名委员

会认为董事会的多元化观点保持适当平衡，本公

司已有效实施董事会多元化政策。

截至二零二五年三月三十一日，根据本年报所载

的环境、社会及管治报告中「B1. 雇佣」部分，

在本集团2,397名员工（包括高级管理人员）中，

男性员工占70.21%，女性员工占29.79%。董

事会认为，本集团的员工队伍（包括高级管理人

员）在性别上已属多元化，并将努力进一步增加

本集团的员工队伍（包括高级管理层）在性别方

面的多元化。

(4) Monitoring and Reporting

The Nomination Comite wil monitor the implementation of the

Diversity Policy. The Nomination Comite wil report anualy

a sumary of the Diversity Policy, the measurable objectives

and relevant programs that the Board has adopted for the

implementation of the Diversity Policy, the progres made towards

achieving these objectives, how and when gender diversity wil

be achieved in respect of the Board, the numerical targets and

timelines set for achieving gender diversity on the Board and the

measures adopted to develop a pipeline of potential sucesors

to the Board to achieve gender diversity in the corporate

governance report contained in the Company’s anual report.

(5) Review of the Diversity Policy

The Nomination Comite wil review the Diversity Policy on a

time to time basis and at least anualy to ensure the efectivenes

of the Diversity Policy. The Nomination Comite wil discus

any revisions that may be required, and recomend any such

revisions to the Board for consideration and aproval.

The Board curently has one female member and the Board is of

the view that gender diversity has ben achieved at the Board level.

The Company aims to maintain at least one female Director in strict

compliance with the gender diversity requirements of the Listing Rules.

The Nomination Comite has reviewed the structure, size, and

diversity of the Board, to ensure that its composition complies with the

Listing Rules and reflects an apropriate mix of skils, experience, and

diversity that are relevant to the Company’s strategy, governance, and

busines and contribute to the Board’s efectivenes and eficiency.

The Nomination Comite considered that an apropriate balance of

diversity perspectives of the Board is maintained and acordingly, the

Company has efectively implemented the Diversity Policy.

As of 31 March 2025, acording to the section headed “B1.

Employment” in the Environmental, Social and Governance Report as

contained in this anual report, among the 2,397 employes (including

senior management) of the Group, the percentages of male employes

and female employes are 70.21% and 29.79%, respectively. The Board

believes that the Group’s workforce (including senior management) is

diverse in terms of gender, and wil endeavour to further improve gender

diversity acros the Group’s workforce (including senior management).

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

提名政策

于二零一八年十二月二十八日，董事会采纳提名

政策（「提名政策」），其中载列提名及委任董事

的准则及程序。

，提名

委员会及╱或董事会应考虑下列准则：

，包括专业资格、技巧、知

识及与本公司业务及策略相关的

经验，以及本公司董事会成员多

元化政策所提述的多元化因素；

• 为达致董事会成员多元化而采纳

的任何可计量目标；

，董事会需包括独

立非执行董事的规定，以及参考

上市规则内列明候选人是否被视

为独立的指引；

、技巧、经

验、独立性及性别多元化方面可

为董事会带来的任何潜在贡献；

• 是否愿意及是否能够投入足够时

间履行身为本公司董事会及╱或

董事会辖下委员会成员的职责；

及

• 适用于本公司业务及其继任计划

及（如适用）董事会及╱或提名委

员会可不时就提名董事及继任计

划采纳及╱或修订的其他各项因

素。

Nomination Policy

On 28 December 2018, the Board adopted a nomination policy (the

“Nomination Policy”) seting out the criteria and procedures for

nomination and apointment of Directors.

, the

Nomination Comite and/or the Board should consider the

folowing criteria:

;

, skils,

knowledge and experience related to busines and

strategies of the Company) as wel as diversity factors as

refered to in the Board diversity policy of the Company;

• Any measurable objectives adopted to achieve diversity of

the Board;

, requirements put forward to the Board

to include independent non-executive Directors and the

guidelines as set out in the Listing Rules, stating whether

candidates are considered to be independent as reference;

• Any potential contribution to the Board in terms of

profesional qualifications, skils, experience, independence

and gender diversity of the candidates;

• Whether being wiling and able to devote suficient time to

discharge their duties as members of the Board and/or its

comites of the Company; and

’s busines and its sucesion

plans, and where aplicable, such other factors as the

Board and/or the Nomination Comite may from time to

time adopt and/or modify for the nomination of Directors

and sucesion plans.

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

(2) 委任新董事的程序

(i) 提名委员会及╱或董事会可从各

种途径招揽董事人选，包括但不

限于内部晋升、调任、由管理层

其他成员及外部招聘代理人推荐。

(i) 提名委员会及╱或董事会于收到

委任新董事的建议及候选人的履

历资料（或相关详情）后，依据上

述准则评估该候选人，以决定该

候选人是否合资格担任董事。

(i) 如过程涉及一个或多个合意的候

选人，提名委员会及╱或董事会

应根据本公司的需要及每位候选

人的证明审查（如适用）排列他们

的优先次序。

(iv) 提名委员会随后应就委任合适人

选担任董事一事向董事会提出建

议（如适用）。

(v) 对于任何经由股东提名于本公司

股东大会上选举为董事的人士，

提名委员会及╱或董事会应依据

上述标准评估该候选人，以决定

该候选人是否合资格担任董事。

提名委员会及╱或董事会应就于股东大

会上委任董事的提案向股东提出建议（如

适用）。

(2) Procedures for apointment of new Directors

(i) The Nomination Comite and/or the Board may recruit

director candidates from a variety of sources, including

but not limited to internal promotion, re-designation, and

recomendation from other members of the management

and external recruitment agencies.

(i) Upon receipt of the proposal for the apointment of a new

Director and the candidate’s biographical information (or

relevant details) by the Nomination Comite and/or the

Board, the candidate wil be asesed based on the above

criteria to determine whether the candidate is qualified to

be a Director.

(i) If the proces involves one or more suitable candidates,

the Nomination Comite and/or the Board shal prioritize

the candidates based on the Company’s neds and the

reference check of each candidate, as apropriate.

(iv) The Nomination Comite shal then make

recomendations to the Board on the apointment of a

suitable candidate as Director, as apropriate.

(v) For any person nominated by the Shareholders for election

as a Director at a general meting of the Company, the

Nomination Comite and/or the Board shal ases

the candidate based on the above criteria to determine

whether the candidate is qualified to be a Director.

The Nomination Comite and/or the Board shal make

recomendations to the Shareholders (if aplicable) on the

proposals for the apointment of Directors at the general meting.

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

(3) Re-election of Director at general meting

(i) The Nomination Comite and/or the Board shal review

the overal contribution and service of the retiring Directors

to the Company, as wel as their participation and

performance in the Board.

(i) The Nomination Comite and/or the Board shal also

review and determine whether the retiring Directors stil

conform with the above criteria.

(i) The Nomination Comite and/or the Board shal make

recomendations to the Shareholders on the proposals for

the re-election of Directors at the general meting.

If the Board proposes a resolution to apoint or re-elect a person

as a Director at the general meting, the information of the

candidate wil be set out in the circular to Shareholders and/or

explanatory statement acompanying the notice of the relevant

general meting in acordance with the Listing Rules and/or

relevant aplicable laws and regulations.

The above comite is provided with suficient resources to

perform its duties.

Competition Executive Comite

The Company has established an executive comite (the

“Competition Executive Comite”) on 4 September 2017. During

the Year, the Competition Executive Comite was composed of two

disinterested Directors, namely Dr. Tang Donglei and Dr. Li Zequn, of

whom Dr. Tang Donglei is the Chairman, chief executive oficer, and an

executive Director, and Dr. Li Zequn is an executive Director.

On 25 June 2025, Dr. Wang Xiaokun was apointed as an executive

Director and a member of the Competition Executive Comite.

Major responsibilities of the Competition Executive Comite are to

monitor the busines of the Company’s Controling Shareholder and its

close asociates.

(3) 于股东大会上重选董事

(i) 提名委员会及╱或董事会应检讨

退任董事对本公司的整体贡献及

服务，以及在董事会的参与程度

及表现。

(i) 提名委员会及╱或董事会亦应检

讨及确定退任董事是否仍然符合

上述准则。

(i) 提名委员会及╱或董事会应就于

股东大会上重选董事的提案向股

东提出建议。

若董事会拟于股东大会上提呈决议案委

任或重选某位人士为董事，有关股东大

会通告所随附的致股东通函及╱或说明

函件中，将会按照上市规则及╱或相关

适用法律及规则要求载列候选人的有关

资料。

上述委员会获提供充足资源以履行其职

责。

竞争执行委员会

本公司于二零一七年九月四日成立了执行委员会

（「竞争执行委员会」）。于本年度，竞争执行委员

会由两名无利害关系董事组成，分别为唐东雷博

士及李泽群博士，其中唐东雷博士为主席、行政

总裁兼执行董事，而李泽群博士为执行董事。

于二零二五年六月二十五日，王晓坤博士获委任

为执行董事及竞争执行委员会委员。

竞争执行委员会的主要职责为监督我们的控股

东及其紧密联系人的业务。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

竞争监察委员会

本公司于二零一七年九月四日成立了监察委员会

（「竞争监察委员会」）。于本年度，竞争监察委

员会由三名独立非执行董事组成，分别为黄平博

士、谭建波先生及岩渕聡博士。

于二零二五年六月二十五日，太田邦正先生获委

任为独立非执行董事及竞争监察委员会委员。

竞争监察委员会的主要职责为：

(i) 每季度开会并审阅竞争执行委员会的季

度检查记录及任何沟通记录；及

(i) 向董事会报告其审阅竞争执行委员会所

提供记录的结果，有关结果将于本公司

的年报内刊发。

有关竞争监察委员会发现的详情，请参阅本年报

「董事会报告书－不竞争契据」一节。

Competition Supervisory Comite

The Company has established a supervisory comite (the

“Competition Supervisory Comite”) on 4 September 2017. During

the Year, the Competition Supervisory Comite was composed of

thre independent non-executive directors, namely Dr. Huang Ping, Mr.

Tam Kin Bor, and Dr. Satoshi Iwabuchi.

On 25 June 2025, Mr. Kunimasa Ota was apointed as an independent

non-executive Director and a member of the Competition Supervisory

Comite.

Major responsibilities of the Competition Supervisory Comite are:

(i) to met quarterly and review the quarterly inspection records

and any comunication records of the Competition Executive

Comite; and

(i) to report findings during its review of the records provided by

the Competition Executive Comite to the Board which wil be

published in the Company’s anual reports.

For details of the Competition Supervisory Comite’s findings,

please refer to the section headed “Directors’ Report – Ded of Non-

Competition” of this anual report.

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

会议出席情况

董事于本年度出席本公司董事会议、委员会

议及股东大会的记录如下：

Number of metings

atended/held

出席╱举行会议次数

Board Meting

Audit

Comite

Meting

Remuneration

Comite

Meting

Nomination

Comite

Meting

Anual

General

Meting

董事会议

审核委员会

会议

薪酬委员会

会议

提名委员会

会议

股东周年

大会

Executive Directors:执行董事：

Dr. Tang Donglei (Chairman and

Chief Executive Oficer) (Note 1)

唐东雷博士

（主席及行政总裁）（附注1）

4/4N/A

不适用

1/1N/A

不适用

1/1

Dr. Li Zequn李泽群博士4/4N/A

不适用

N/A

不适用

N/A

不适用

1/1

Non-executive Directors:非执行董事：

Mr. Takao Nishijima (Note 2)西嶋尚生先生（附注2）4/4N/A

不适用

N/A

不适用

1/11/1

Ms. Mami Matsushita松下真実女士4/4N/A

不适用

N/A

不适用

N/A

不适用

1/1

Mr. Kenji Yoneyama (Note 3)米山贤司先生（附注3）4/42/2N/A

不适用

N/A

不适用

1/1

Independent non-executive

Directors:

独立非执行董事：

Dr. Satoshi Iwabuchi 岩渕聡博士4/4N/A

不适用

N/A

不适用

N/A

不适用

1/1

Dr. Huang Ping黄平博士4/42/21/11/11/1

Mr. Tam Kin Bor谭建波先生4/42/21/11/11/1

附注：

1. 唐东雷博士自二零二五年六月二十五日起不再担任薪

酬委员会成员。

2. 西嶋尚生先生自二零二五年六月二十五日起不再担任

提名委员会成员。

3. 米山贤司先生自二零二五年六月二十五日起不再担任

董事会及审核委员会成员。

Atendance of Metings

The atendance records of the Directors at the Board metings,

comite metings and general metings of the Company during the

Year are as folows:

Notes:

1. Dr. Tang Donglei ceased to be a member of the Remuneration Comite from 25

June 2025.

2. Mr. Takao Nishijima ceased to be a member of the Nomination Comite from 25

June 2025.

3. Mr. Kenji Yoneyama ceased to be a member of the Board and the Audit Comite

from 25 June 2025.

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

企业管治职能

根据企业管治守则守则条文第A.2条，董事会负

责履行本公司企业管治职责。董事会肩负以下职

责及责任，履行本公司企业管治职责：

1. 制定及检讨本集团企业管治政策及常规

并向董事会作出建议；

2. 检讨及监察本集团董事及高级管理层之

培训及持续专业发展；

3. 检讨及监察本集团在遵守法律及监管规

定方面之政策及常规；

、检讨及监察雇员及董事之操守准

则及合规手册（如有）；及

5. 检讨本集团是否遵守上市规则所载企业

管治守则及本公司年报内企业管治报告

之披露。

外聘核数师及核数师酬金

于本年度，向独立核数师安永会计师事务所及其

联属公司就其所提供的核数及非核数性质的服务

已付及应付的费用如下：

RMB’000

Type of services服务类型人民币千元

Audit services – audit fes for the

year ended 31 March 2025

核数服务－截至二零二五年三月三十一日止年度

的核数费用920

Non-audit services – interim review fes for the

six months ended 30 September 2024

非核数服务－截至二零二四年九月三十日止六个

月的中期审阅费用500

Non-audit services – others (Note)非核数服务－其他（附注）89

Total总计1,509

附注：其他非核数服务指审阅服务，包括：

；及

CORPORATE GOVERNANCE FUNCTIONS

Acording to code provision A.2 of the CG Code, the Board is

responsible for performing the corporate governance duties of the

Company. The Board has the folowing duties and responsibilities in

performing the corporate governance duties of the Company:

’s policies and practices on

corporate governance and make recomendations to the Board;

2. to review and monitor the training and continuing profesional

development of the Directors and senior management of the

Group;

’s policies and practices on

compliance with legal and regulatory requirements;

, review and monitor the code of conduct and

compliance manual (if any) aplicable to employes and Directors;

and

’s compliance with the CG Code as set out

in the Listing Rules and disclosure in the corporate governance

report in the anual report of the Company.

EXTERNAL AUDITOR AND AUDITOR’S

REMUNERATION

During the Year, the fes paid or payable to the independent auditor,

Ernst & Young and its afiliate companies, for services rendered in

respect of audit and non-audit natures are as folows:

Note: Other non-audit services represented review services, which include:

;

; and

• transfer pricing report producing service.

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

外聘核数师的独立性受审核委员会所监督，审核

委员会亦负责就委任外聘核数师以及批准其聘用

条件及薪酬，向董事会作出建议。

董事对财务报表须承担的责任

董事知悉他们编制每个财政年度真实而公平地反

映该年度本集团财务状况及本集团业绩及现金流

量的财务报表，以及遵守相关法例及上市规则披

露规定的责任。

于编制本年度的财务报表时，董事已经选取适当

的会计政策并加以贯彻应用，作出审慎及合理的

判断及估计以及随时编制具有合理准确度的本集

团财务状况的披露资料。

除国际地缘政治的不确定性可能对中国的制造业

及整体经济产生相对较大的负面影响从而导致高

端数控机床的需求变化外，董事并不知悉其他有

关任何可能导致本公司的持续经营能力存在重大

疑问的事件或状况的重大不明朗因素。

公司秘书

本公司之公司秘书为黄慧儿女士，由外聘服务供

应商委派。外聘服务供应商于本公司之主要联络

人为本集团执行董事兼副总裁李泽群博士。黄慧

儿女士符合上市规则所载之资历规定，彼之履历

详情载于本年报「董事及高级管理层」一节。根

据上市规则第3.29条项下的相关培训规定，黄

慧儿女士于本年度内已接受不少于15小时的相

关专业培训。

The independence of the external auditor is monitored by the Audit

Comite which is also responsible for making recomendations to the

Board on the apointment of the external auditor as wel as the aproval

of their terms of engagement and remuneration.

DIRECTORS’ RESPONSIBILITIES FOR

FINANCIAL STATEMENTS

The Directors acknowledge their responsibilities for the preparation of

the financial statements for each financial year, which give a true and fair

view of the financial position of the Group and of the results and cash

flows of the Group for that year in compliance with the relevant laws and

disclosure requirements of the Listing Rules.

In preparing the financial statements for the Year, the Directors have

selected apropriate acounting policies and aplied them consistently,

made judgements and estimations that are prudent and reasonable,

and prepared disclosure of the financial position of the Group with

reasonable acuracy at any time.

Apart from uncertainties of the international geopolitics, which may

materialy and negatively impact China’s manufacturing industry and the

economy as a whole and resulted in a decline in the demand for high-

end CNC machine tols, the Directors are not aware of any material

uncertainties relating to events or conditions that may cast significant

doubt on the Company’s ability to continue as a going concern.

COMPANY SECRETARY

The company secretary of the Company is Ms. Wong Wai Ye Ela as

delegated by an external service provider. The external service provider’s

primary contact person in the Company is Dr. Li Zequn, the executive

Director and vice president of the Group. Ms. Wong Wai Ye Ela fulfils

the qualification requirements contained in the Listing Rules and her

biographical details are set out under the section headed “Directors and

Senior Management” in this anual report. Ms. Wong Wai Ye Ela has

received no les than 15 hours of related profesional trainings during

the Year pursuant to the relevant training requirements under Rule 3.29

of the Listing Rules.

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

股息政策

本公司拟通过维持股息分配与充足流动资金及储

备之间的平衡满足其营运资金需求、未来业务增

长及其股权价值，从而为股东创造长期价值。本

公司并无任何预设的派息比率，董事会可全权酌

情向股东宣派及派付股息，惟须遵守组织章程细

则及所有适用的法律及法规。

根据本公司的股息政策（「股息政策」），董事会

在考虑宣派股息时，应同时考虑下列有关本集团

的因素：

；及

董事会将不时检讨股息政策，并可在其认为合适

及必要时随时全权酌情决定更新、修订及╱或

修改股息政策。股息政策并不构成本公司任何具

法律约束力的承诺，即任何股息将以任何特定金

额支付及╱或并不会要求本公司于任何时间或

不时宣派股息。

DIVIDEND POLICY

The Company intends to generate long-term value for the Shareholders

by maintaining a balance betwen dividend distributions and suficient

liquidity and reserves in order to met its working capital requirements,

realize future busines growth and its equity value. The Company does

not have any predetermined dividend payout ratio and the Board may

at its absolute discretion declare and pay dividends to the Shareholders

subject to the Articles of Asociation and al aplicable laws and

regulations.

Pursuant to the dividend policy of the Company (the “Dividend Policy”),

the Board shal consider the declaration of dividend by taking into

acount the folowing factors pertaining to the Group:

;

;

;

;

;

’ interests;

; and

• Any other factors which the Board may dem relevant.

The Board wil review the Dividend Policy from time to time and may

renew, amend and/or modify the Dividend Policy at its sole and absolute

discretion at any time as it thinks fit and necesary. The Dividend Policy

does not constitute any legaly binding comitment of the Company that

any dividend wil be paid in any particular amount and/or wil not require

the Company to declare dividend at any time or from time to time.

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

股东权利

由股东召开股东特别大会的程序

根据组织章程细则第12.3条，按存放于本公司

在香港之主要办事处名册上其中两位或以上的股

东的书面要求召开股东大会；倘本公司不再拥有

上述主要办事处，则由注册办事处指明本次会议

的对象，并由请求人签署，条件是该等请求人于

存放请求书之日须持有本公司不少于十分之一的

缴足股本，赋予他们于本公司股东大会的投票

权。本公司也可按其中一位股东的书面要求召

开股东大会，该股东应为认可结算所（或其代名

人），其名册存放于本公司在香港的主要办事处

内，倘本公司不再拥有上述主要办事处，则由注

册办事处指明本次会议的对象，并由请求人签

署，条件是该请求人于存放请求书之日须持有本

公司不少于十分之一的缴足股本，赋予他于本公

司股东大会的投票权。如果董事会并未于存放请

求书之日起21日内正式召开一个将于额外的21

天内举行的会议，请求人本身或他们当中任何

超过一半总投票权的人士，可以同样的方式（尽

可能接近董事会可召开会议的方式）召开股东大

会，条件是如此召开的任何会议不得在存放请求

书之日起三个月期满后举行，以及所有因董事会

不履行而对请求人造成的合理费用应当由本公司

向请求人作出赔偿。

股东于股东大会上提出议案的程序

倘股东拟于股东大会上提出议案，在满足上段

「由股东召开股东特别大会的程序」所载持股条

件的情况下，该股东可以依照相同程序向董事会

或公司秘书于本公司香港主要营业地点的地址发

出书面要求。该股东须在书面要求中列明其议案

及尽早呈交该书面要求以便公司秘书作出必要安

排。

SHAREHOLDER RIGHTS

Procedures for Shareholders to Convene an Extraordinary

General Meting

Acording to article 12.3 of the Articles of Asociation, general metings

shal be convened on the writen requisition of any two or more members

deposited at the principal ofice of the Company in Hong Kong. In

the event the Company ceases to have such a principal ofice, the

registered ofice specifying the objects of the meting and signed by the

requisitionists, provided that such requisitionists held as at the date of

deposit of the requisition not les than one-tenth of the paid-up capital

of the Company which caries the right of voting at general metings of

the Company. General metings may also be convened on the writen

requisition of any one member which is a recognized clearing house (or

its nomine(s) deposited at the principal ofice of the Company in Hong

Kong or, in the event the Company ceases to have such a principal

ofice, the registered ofice specifying the objects of the meting and

signed by the requisitionist, provided that such requisitionist held as at

the date of deposit of the requisition not les than one-tenth of the paid-

up capital of the Company which caries the right of voting at general

metings of the Company. If the Board does not within 21 days from the

date of deposit of the requisition proced duly to convene the meting

to be held within a further 21 days, the requisitionist(s) themselves or

any of them representing more than one-half of the total voting rights of

al of them, may convene the general meting in the same maner, as

nearly as posible, as that in which metings may be convened by the

Board provided that any meting so convened shal not be held after the

expiration of thre months from the date of deposit of the requisition,

and al reasonable expenses incured by the requisitionist(s) as a result

of the failure of the Board shal be reimbursed to them by the Company.

Procedures for Shareholders to Put Forward Proposals at

General Meting

If a Shareholder wishes to put forward proposals at a general meting,

the Shareholder, who has satisfied the shareholding requirements set

out in the above paragraph headed “Procedures for Shareholders to

Convene an Extraordinary General Meting”, may folow the same

procedures by sending a writen requisition to the Board or the company

secretary of the Company at the principal place of busines of the

Company in Hong Kong. The Shareholder should state his/her proposals

in the writen requisition and submit the writen requisition as early as

practicable to enable the company secretary of the Company to make

necesary arangement.

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

股东提名董事候选人士的程序

若股东拟提名个别人士（「候选人」）于股东大会

上参选本公司董事，依据组织章程细则第16.4

条，本公司在刊发股东大会通告后，彼须于本公

司香港主要营业地点（地址为香港铜锣湾希慎道

33号利园一期19楼1915室）存置一份书面通知

（「通知」），收件人为本公司的公司秘书。该通知

须：(i)包括上市规则第13.51(2)条所规定的候选

人个人资料；及(i)由有关股东签署并由候选人签

署，以表示其愿意参选和同意公布个人资料。递

交通知期间由寄发有关该推选的大会通告翌日开

始，但不得迟于该大会举行日期前七日结束。为

使股东有充足时间考虑有关选举候选人为本公司

董事的建议，本公司促请拟提建议的股东尽早于

有关股东大会日期前递交通知。

向董事会作出查询的程序

股东可随时直接向董事会作出查询。所有查询须

以书面邮递至本公司于香港的主要营业地点或电

邮至ir@ tsugami.com.cn ，以便投资者关系团队

跟进。

宪章文件

于本年度，本公司的组织章程大纲和细则并无重

大变动。

投资者关系

本公司透过举行分析师简报会和路演、参与投资

者会议和在会议上作公司简报、安排参观本公

司，及定期与机构股东和分析师会面，保持积极

促进投资者关系及沟通的政策。

本集团官网( w.tsugami.com.cn )包括「投资者

关系」一节，可供适时取得本公司的新闻稿、财

务报告以及公告。本公司将继续维持开放及有效

的投资者沟通政策，并适时向投资者提供本集团

企业管治报告

股东沟通政策

本公司已制定了股东沟通政策。该政策旨在促进

与股东和其他利益相关者的有效沟通，鼓励股东

与公司积极互动，并使股东能够有效行使其作为

股东的权利。董事会审查了股东沟通政策的实施

和效果，且经考虑股东大会上采取的措施、所收

到的查询（如有）的处理情况及下文所载的多种

沟通渠道，结果令人满意。

本公司已经建立了多种渠道，与股东保持续的

对话，具体如下：

(a) 公司通讯

根据上市规则的定义，「公司通讯」是指

本公司为其任何证券的持有人提供资讯

或采取行动而发出或将要发出的任何文

件，包括但不限于本公司的下列文件：

(A)董事报告、年度帐目连同审计员报告

的副本及（如适用）其财务摘要报告；(B)

中期报告；(C)会议通知；(D)上市文件；

(E)通函；及(F)代表委任表格。本公司的

公司通讯将按照上市规则的要求，及时

在联交所网站( w.hkex.com.hk )上发

布。公司通讯将按照上市规则的要求，

及时向股东和本公司证券的非登记持有

人提供中英文版本或在允许的情况下提

供单一语言版本。本公司证券的股东和

非注册持有人有权选择公司通讯的语言

（英文或中文）或接收方式（印刷品或通过

电子方式）。

(b) 根据上市规则的公告和其他文件

本公司应根据上市规则及时在联交所网

站上发布公告（关于内部资讯、企业行动

和交易等）和其他文件（如组织章程大纲

和章程细则）。

SHAREHOLDERS’ COMUNICATION POLICY

The Company has in place a Shareholders’ Comunication Policy. The

policy aims at promoting efective comunication with Shareholders

and other stakeholders, encouraging Shareholders to engage actively

with the Company and enabling Shareholders to exercise their rights as

Shareholders efectively. The Board reviewed the implementation and

efectivenes of the Shareholders’ Comunication Policy and having

considered the steps taken at the general meting, the handling of

queries received (if any) and the multiple chanels of comunication as

set out below, the results were satisfactory.

The Company has established a number of chanels for maintaining an

on-going dialogue with its Shareholders as folows:

(a) Corporate Comunication

“Corporate Comunication” as defined under the Listing Rules

refers to any document isued or to be isued by the Company

for the information or action of holders of any of its securities,

including but not limited to the folowing documents of the

Company: (A) the Directors’ report, anual acounts together

with a copy of the auditor’s report and, where aplicable, its

sumary financial report; (B) the interim report; (C) a notice of

meting; (D) a listing document; (E) a circular; and (F) a proxy

form. The Corporate Comunication of the Company wil be

published on the Stock Exchange’s website (w.hkex.com.hk)

in a timely maner as required by the Listing Rules. Corporate

Comunication wil be provided to Shareholders and non-

registered holders of the Company’s securities in both English

and Chinese versions or where permited, in a single language,

in a timely maner as required by the Listing Rules. Shareholders

and non-registered holders of the Company’s securities shal have

the right to chose the language (either English or Chinese) or

means of receipt (in printed form or through electronic means) of

the Corporate Comunication.

(b) Anouncements and Other Documents pursuant to

the Listing Rules

The Company shal publish anouncements (on inside information,

corporate actions and transactions etc.) and other documents

(e.g. the Memorandum and Articles of Asociation) on the Stock

Exchange’s website in a timely maner in acordance with the

Listing Rules.

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

本公司在联交所网站上发布的任何

资讯或文件也将在本公司的网站

( w.tsugami.com.cn )上公布。

(d) 股东会议

本公司的股东周年大会和其他股东大会

是本公司与股东之间沟通的主要论坛。

本公司应根据上市规则及时向股东提供

在股东大会上提出的决议案的相关资

讯。所提供的资讯应是合理必要的，以

使股东能够就拟议的决议案作出知情决

定。我们鼓励股东参加股东大会，如果

他们不能出席会议，也可以委托代理人

代表他们出席会议并投票。在适当或需

要的情况下，董事会主席和其他董事会

成员、董事会委员会主席或其代表以及

外部审计师应出席公司的股东大会，回

答股东的问题（如有）。独立董事委员会

的主席（如有）也应在任何批准关联交易

或任何其他须经独立股东批准的交易的

股东大会上回答问题。

(e) 股东的问询

关于持股的查询

股东应向本公司的股份登记分处卓佳证

券登记有限公司查询其持股情况，或拨

打其热线电话(852) 2980 1333，或亲自

前往位于香港夏悫道16号远东金融中心

17楼的公众柜台。

向董事会和公司提出有关企业管治或其

他事项的查询

本公司一般不会处理口头或匿名的查

询。股东可以通过电子邮件向董事会提

出任何询问：ir@ tsugami.com.cn 或邮寄

至香港铜锣湾希慎道33号利园一期19楼

1915室（收件人：公司秘书黄慧儿女士）。

Any information or documents of the Company posted on

the Stock Exchange’s website wil also be published on the

Company’s website (w.tsugami.com.cn).

(d) Shareholders’ Metings

The anual general meting and other general metings of the

Company are primary forum for comunication betwen the

Company and its Shareholders. The Company shal provide

Shareholders with relevant information on the resolutions(s)

proposed at a general meting in a timely maner in acordance

with the Listing Rules. The information provided shal be

reasonably necesary to enable Shareholders to make an

informed decision on the proposed resolution(s). Shareholders

are encouraged to participate in general metings or to apoint

proxies to atend and vote at the metings for and on their behalf

if they are unable to atend the metings. Where apropriate or

required, the Chairman of the Board and other Board members,

the chairmen of board comites or their delegates, and the

external auditors should atend general metings of the Company

to answer Shareholders’ questions (if any). The chairman of the

independent board comite (if any) should also be available to

answer questions at any general meting to aprove a conected

transaction or any other transaction that is subject to independent

Shareholders’ aproval.

(e) Shareholders’ Enquiries

Enquiries about Shareholdings

Shareholders should direct their enquiries about their

shareholdings to the Company’s branch share registrar, Tricor

Investor Services Limited, or cal its hotline at (852) 2980 1333,

or go in person to its public counter at 17/F, Far East Finance

Centre, 16 Harcourt Road, Hong Kong.

Enquiries about Corporate Governance or Other Maters to

be Put to the Board and the Company

The Company wil not normaly deal with verbal or anonymous

enquiries. Shareholders may send any enquiries to the Board by

email: ir@tsugami.com.cn or by post to Rom 1915, 19/F, Le

Garden One, 33 Hysan Avenue, Causeway Bay, Hong Kong (with

atention to Ms. WONG Wai Ye Ela, Company Secretary).

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

(f) 其他投资者关系沟通平台

投资者╱分析师简报会、路演（国内和国

际）、媒体采访、针对投资者的行销活动

和专业行业论坛等将在需要的基础上推

出。

风险管理及内部监控

董事会确认其就本集团风险管理及内部监控系统

应承担的责任，并已按照上市规则附录C1之企

业管治守则第D.2段的要求建立了风险管理及内

部监控系统，并持续监督和检讨其运行的有效

性。该系统旨在管理未能达成业务目标的风险

（包括ESG风险），以及促进有效及高效运营。

然而该系统乃旨在控制而非消除未能达成业务目

标之风险，并仅可为重大错误陈述或亏损提供合

理而非绝对的保证。

本集团的风险管理程序及内部监控架构

本集团亦已聘请独立专业风险顾问协助搭建风险

管理架构，制定《风险评估报告》，并进行风险

评估以确定本集团所面对风险的性质及程度。在

风险评估过程中，本集团的管理层及监查室鉴定

了本集团面对的主要风险（包括ESG风险），并

根据这些风险出现的机会及其对本集团业务的影

响的严重性进行排序，进而制定风险管理措施以

维持风险在可接受的程度内。公司会订立合适的

内部监控措施以减轻风险，亦会与管理层持续沟

通风险的变化。

(f) Other Investor Relations Comunication Platforms

Investor/analysts briefings, roadshows (both domestic and

international), media interviews, marketing activities for investors

and specialist industry forums etc. wil be launched on a required

basis.

RISK MANAGEMENT AND INTERNAL

CONTROLS

The Board has acknowledged its responsibility for the risk management

and internal control systems of the Group, and has established such

systems and continuously supervised and reviewed the efectivenes of

the system operation on an ongoing basis as required in paragraph D.2

of the CG Code as set out in Apendix C1 of the Listing Rules, with the

purpose of managing the risk of failure to achieve the busines objectives

(including the ESG risks), as wel as enhancing the efective and eficient

operation of the Group. However, such systems are designed to manage

rather than eliminate the risk of failure to achieve the busines objectives,

and can only provide reasonable and not absolute asurance against

material mistatement or los.

The Group’s Risk Management Proces and Internal

Control Framework

The Group has also comisioned an independent profesional risk

advisor to help build risk management framework, develop the “Risk

Asesment Manual”, and conduct risk asesments to determine the

nature and extent of the Group’s risks. In the risk asesment proces,

the management and the internal audit department of the Group have

identified the major risks (including the ESG risks) faced by the Group

and ranked these risks acording to the likelihod and the severity

of the impact of such risks on the busines of the Group, as wel as

further developed risk management measures to maintain the risks at an

aceptable level. Apropriate internal control measures are developed to

mitigate the risks and changes of risks are reported to management on

an ongoing basis.

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

本集团的监查室，负责独立检讨风险管理及内部

监控系统的充分性及有效性。

我们的风险管理及内部监控系统的主要特性：

、清楚

界定各主要职位的责任、权限及问责性；

，向所有员工解释本集团

对诚信及道德价值的要求；

，以提供各种绩效计

量指标并确保有关规则得以遵守；

、负责

本集团会计及财务申报职能的员工所具

备的资格及经验，以及向员工提供充足

培训；

• 管理层定期就内部监控程序及监控风险

因素进行的检讨及评估及向审核委员会

报告有关的调查结果；

，以防

贿赂、勒索、欺诈及洗黑钱活动，并遵

守本集团营运所在地方的法律，以及向

政府机关汇报有关事宜；及

，避

免泄露价格等敏感资料。

The internal audit department of the Group is responsible for performing

independent review of the adequacy and efectivenes of the risk

management and internal control systems.

The key features of our risk management and internal control systems

include the folowing:

, define

the responsibilities, authorities and acountabilities of each key

position;

, explain the Group’s requirements on

integrity and ethical value to al staf;

• A comprehensive financial acounting system to provide for

various performance measurement indicators and to ensure

compliance with relevant rules;

• Establish apropriate policy to ensure the efective use of

resources, the qualifications and experiences posesed by our

staf members who are responsible for the Group’s acounting

and financial reporting functions, and suficient training provided

to our staf members;

• Management to conduct review and evaluation on the internal

control procedures and monitoring of risk factors on a regular

basis and reports to the Audit Comite about the findings;

• Establish anti-coruption policy and whistleblowing mechanism

to prevent incidents of bribery, extortion, fraud, and money

laundering and comply with the laws of the place where the

busines of the Group caries on, to report the isues to the

relevant government authorities; and

• Establish apropriate level of information technology aces

rights, avoid leakage of sensitive information, such as price.

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

管理层和监查室会向审核委员会和董事会报告所

有发现及风险管理和内部监控系统的有效性。审

核委员会协助董事会领导管理层监督风险管理及

内部监控系统的设计、实施及监控，并提出建

议。审核委员会亦确保至少每年对该等系统的有

效性进行全面检讨，予董事会考虑。董事会对评

估和确定其在实现公司的战略目标所承担的风险

的性质和程度负有总体责任；且确认负责风险管

理和内部监控系统及检讨其有效性。

风险管理及内部监控系统的检讨

董事会连同审核委员会检讨了本年度内本公司风

险管理及内部监控系统（包括财务、营运及合规

监控）的有效性，以及考虑本公司在会计及财务

汇报与内部审计职能方面以及与本公司ESG表现

和汇报相关的资源、员工资历及经验是否足够，

以及员工接受的培训是否充足。本公司已订立程

序，借以（其中包括）保障资产不会在未经许可

下被使用或处置、控制资本支出、妥当存置会计

记录及确保用于营商及刊载的财务数据准确可

靠。本集团各级管理层持续维持及监察风险管理

及内部监控系统。

本公司的风险管理和内部控制系统每年都会进行

审查。董事会于本年度内进行了一次年度审核，

检讨了涵盖财务、营运与合规监控系统，并经考

虑由审核委员会、集团管理层、外聘及内部核数

师、ESG工作小组所进行的工作后评估该等系统

的有效性。根据监查室、ESG小组及管理层提交

的报告，董事会认为本公司的风险管理及内部监

控系统是有效及充足的。

The management and the internal audit department would report to the

Audit Comite and the Board on al findings and the efectivenes of

the risk management and internal control systems. The Audit Comite

asists the Board in leading the management to overse the design,

implementation and monitoring of the risk management and internal

control systems, and makes recomendations. The Audit Comite

also ensures that an overal review of the efectivenes of such systems

is conducted at least anualy and put forward to the Board for

consideration. The Board has the overal responsibility for evaluating

and determining the nature and extent of the risks it is wiling to take

in achieving the Company’s strategic objectives, and acknowledges its

responsibility for the risk management and internal control systems and

reviewing their efectivenes.

Review of Risk Management and Internal Control Systems

The Board and its Audit Comite reviewed the efectivenes of the

Company’s risk management and internal control systems which include

financial, operational and compliance controls during the Year, as wel

as tok into acount the adequacy of resources, staf qualifications and

experience and trainings for the staf of the Company’s acounting and

financial reporting and internal audit functions, as wel as the Company’s

ESG performance and reporting. Procedures have ben set up for,

inter alia, safeguarding asets against unauthorised use or disposition,

controling capital expenditure, maintaining proper acounting records

and ensuring the reliability of financial information used for busines and

publications. Management throughout the Group maintains and monitors

the risk management and internal control systems on an ongoing basis.

The Company’s risk management and internal control systems are

reviewed anualy. The Board conducted an anual review of the

financial, operational and compliance monitoring systems during the

Year and asesed the efectivenes of such systems after considering

the work performed by the Audit Comite, the management of the

Group, external and internal auditors and ESG working group. The Board

considered that, based on the reports submited by the internal audit

department, ESG working group and the management, the Company’s

risk management and internal control systems are efective and

adequate.

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

CORPORATE GOVERNANCE REPORT

企业管治报告

处理及发布内幕消息的程序和内部监控措

施

董事会已制定有关处理及发布内幕消息的内幕消

息政策。内幕消息政策订明本集团之责任、共享

非公开数据之限制、谣言处理、非故意之选择性

披露、豁免及免除内幕消息之披露、对外通讯与

沟通指引以及遵守及报告程序。本集团管理层须

不时采取一切合理措施，确保已有恰当程序预防

本集团违反有关披露规定。彼等必须实时知会财

务经理任何可能涉及透露或泄露内幕消息的事

宜，而财务经理将于合理切实可行情况下尽快通

知董事会，从而迅速采取适当行动。如有证据显

示严重违反有关内幕消息政策，董事会将决定或

指派适当人士决定有关纠正问题之适当行动及避

免重蹈覆辙。

Procedures and Internal Controls for the Handling and

Disemination of Inside Information

The Board has established the Inside Information Policy for the handling

and disemination of inside information. The Inside Information Policy

stipulates the obligations of the Group, restriction on sharing non-

public information, handling of rumors, unintentional selective disclosure,

exemptions and waiver to the disclosure of inside information, external

comunication guidelines and compliance and reporting procedures.

Management of the Group must take al reasonable measures from time

to time to ensure that proper safeguards are in place to prevent a breach

of a disclosure requirement in relation to the Group. They must promptly

bring any posible leakage or divulgence of inside information to the

atention of the financial manager who wil notify the Board as son as

reasonably practicable acordingly for taking the apropriate prompt

action. In the event that there is evidence of any material violation of the

Inside Information Policy, the Board wil decide, or designate apropriate

persons to decide, the apropriate course of actions for rectifying the

problem and avoiding the likelihod of its recurence.

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

关于本集团

津上精密机床（中国）有限公司（以下简称「本公

司」）及其附属公司（统称「本集团」或「我们」）是

领先的数控高精密机床专业制造商，主业务为专

业订制、开发、生产、销售精密车床、精密加工

中心及精密磨床等各类数控高精密机床。本集团

产品主要应用在汽车零部件、移动电话和通讯设

施等IT电子零部件、自动化、医疗器械和工程机

械等行业。其产品主要在中国大陆（「中国」）和

台湾市场销售，以及通过母公司株式会社ツガ

ミ（「日本津上」）出口日本、欧美及东南亚等地

区。本集团亦向世界著名的汽车厂家、家电厂家

及智慧手机厂家的供应链提供数控高精密机床。

本集团是日本著名数控高精密机床厂家日本津上

设立的中国事业的附属公司，二零三年开业以

来，经过二十多年的快速发展，已成长为中国机

床市场著名的外资品牌的数控机床制造商。

ABOUT THE GROUP

Precision Tsugami (China) Corporation Limited (the “Company”) together

with its subsidiaries (the “Group” or “we”) is a leading profesional

manufacturer of CNC high precision machine tols and its main busines

includes profesional customisation, development, production, and sales

of various CNC high precision machine tols such as precision lathes,

precision machining centres and precision grinding machines. The

products of the Group are mainly used in the industries which include

automobile parts and components, IT electronic parts such as mobile

phones and comunication facilities, automation, medical instruments

and construction machinery. They are mainly sold in the mainland of

the People’s Republic of China (the “PRC”) and Taiwan markets and

are also exported to Japan, Europe, America and Southeast Asia

through the Group’s parent company Tsugami Corporation 株式会社ツ

ガミ(“Tsugami Japan”). The Group also provides CNC high precision

machine tols to the suply chains of renowned auto manufacturers,

home apliance manufacturers, and smartphone manufacturers of the

world.

The Group is a subsidiary established by Tsugami Japan, a renowned

Japanese CNC precision machine tol manufacturer, for its Chinese

undertakings, and has grown into the largest foreign-branded

CNC machine tol manufacturer in the Chinese machines’ tols

market through more than 20 years of rapid development since its

comencement of busines in 2003.

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

本集团坚信可持续发展乃其持续实现成功的关

键，我们认同将环境、社会及管治（「ESG」）理

念融入其风险管理系统的重要性，且已于其日常

运营及管治方面采取相应的措施。本集团的使命

是通过提供计算机数字控制机床，延续人类的创

造力、创新及灵感。为达成上述使命，本集团相

信以下五个核心价值引领其迈向成功：

成功的决心：本集团全力以赴，为投资者

创造长期及可持续的价值。

因此，本集团不断精益求

精，在财务及非财务方面力

臻卓越表现。

在各个业务范畴上

的诚信：

本集团重视商业道德。本集

团以身作则，并要求业务伙

伴以诚实及正直的态度处

事。

尊重他人：本集团与投资者、员工、客

户、业务伙伴及供应商之间

互相尊重及关怀，珍重彼等

作出的贡献，与彼等并肩同

行。

保护环境：本集团致力于将其对环境造

成的潜在不利影响减至最

低，并保护天然资源。

以本集团的服务及

产品质量为傲：

本集团重视客户，致力于以

优质产品及服务满足客户需

要。

The Group firmly believes that sustainable development is the key to

its continued suces. We recognise the importance of integrating

environmental, social and governance (“ESG”) concepts into its risk

management system and adopting coresponding measures in runing

its daily operations and establishing its governance structure. The

Group’s mision is to perpetuate human creativity, inovation and

inspiration through the provision of CNC high precision machine tols.

With this mision, the Group believes that the folowing five core values

are vital:

A Wil to Suced:The Group is dedicated to creating long-

term and sustainable value for its investors.

As such, the Group continuously pursues

excelence in its performance, not only

financialy but also in non-financial aspects.

Integrity and Honesty in

Al Areas of Busines:

The Group emphasises busines ethics.

The Group leads by example and demands

honesty and integrity from its busines

partners.

Respect for People:The Group treats its investors, employes,

customers, busines partners and supliers

with mutual respect and care, values their

contributions and keps pace with them.

Protection of the

Environment:

The Group is comited to minimising its

potential adverse impact on the environment

and preserving natural resources.

Pride in the Group’s

Services and

Product Quality:

The Group treasures its customers and

strives to satisfy them with quality products

and services.

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

CORPORATE HONOURS

Pinghu Municipal People’s Government

2024 Meritorious Enterprise

平湖市人民政府

「2024年度功勋企业」

Party Working Comite of Pinghu Economic and

Technological Development Zone (Zhongdai Subdistrict),

Administrative Comite of Pinghu Economic and

Technological Development Zone

2024 Top 20 Taxpaying Enterprises – First Place

平湖经济技术开发区（钟埭街道）党工委、

平湖经济技术开发区管委会

「2024年度纳税二十强企业第一名」

The 9th Zhitong Finance Listed Company Awards

Most Valuable Industrial Manufacturing Company

第九届智通财经上市公司评选

「最具价值工业制造公司」

Party Working Comite of Pinghu Economic and

Technological Development Zone (Zhongdai Subdistrict),

Administrative Comite of Pinghu Economic and

Technological Development Zone

2024 Special Contribution Award

平湖经济技术开发区（钟埭街道）党工委、

平湖经济技术开发区管委会

「2024年度特别贡献奖」

企业荣誉

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

ABOUT THE ESG REPORT

The purpose of this ESG Report (the “Report”) is to enable stakeholders

to fuly understand the Group’s corporate mision and its social

responsibilities, and to demonstrate the Group’s ESG performance

in areas such as corporate governance, environmental protection,

employment practices, operational practices and comunity investment.

ESG Governance Structure

The Group has established an ESG governance structure to integrate

ESG governance into its busines operations and decision-making

proceses. The board (the “Board”) of directors (the “Directors”)

and its audit comite (the “Audit Comite”) asume overal

responsibility for ESG maters related to the Group, and their members

poses the apropriate skils, experience, knowledge, and perspectives

necesary to overse the Group’s ESG maters. The Board must hold

at least one meting each year to establish and plan the overal ESG

aproach, ensuring it aligns with the Group’s busines strategy. The

Audit Comite must develop and review ESG-related management

aproach, strategies, principles, policies, targets, and priorities of isues.

To beter monitor the Group’s performance, isues, and potential risks

in ESG-related areas, the Audit Comite must regularly ases and

identify the Group’s ESG risks and oportunities, as wel as evaluate and

review the ESG-related targets set and the efectivenes of policies. The

Audit Comite also neds to review the disclosure information in this

Report and recomend it to the Board for aproval, while proposing

specific actions or decisions for the Board to consider in order to

maintain the integrity of this Report.

To enhance the efectivenes of the Group’s ESG governance, the Group

has established an ESG Working Group (the “Working Group”) to asist

the Audit Comite in overseing ESG-related maters. The Working

Group is composed of core members from diferent departments who

poses relevant qualifications and profesional knowledge in al aspects

of ESG and is responsible for the specific implementation of ESG

management. The Working Group colaborates with an independent third

party to colect and analyse ESG data, monitor and evaluate the Group’s

ESG-related performance, track and review the progres of ESG-related

targets, ensure compliance with relevant laws and regulations, asist

in conducting materiality asesments, and prepare this Report. The

Working Group must also hold at least one meting each year to discus

the Group’s performance in ESG-related areas and develop apropriate

solutions to improve the overal performance of ESG policies. The

Working Group must also asist in evaluating and identifying the

Group’s ESG risks and oportunities and ensure the implementation

and efectivenes of risk management and internal control systems. The

Audit Comite and the Working Group must report their investigation

results, decisions, and recomendations to the Board at least once a

year.

关于ESG报告

本ESG报告（「本报告」）主要目的是为了让持份

者充分了解本集团的企业使命及履行的社会责

任，并展示本集团在企业管治、环境保护、雇佣

惯例、营运常规及社区投资等方面的ESG表现。

ESG管治架构

本集团已制定ESG管治架构，以将ESG管治融

入至其业务营运及决策过程当中。本公司董事

（「董事」）会（「董事会」）及其下属审核委员会

（「审核委员会」）对本集团ESG相关事宜承担整

体责任，其成员均具备监督本集团ESG事宜所

需的适当技能、经验、知识及观点。董事会需每

年至少召开一次会议，以确立及规划ESG整体方

针，从而确保其与本集团的业务策略方向达成一

致。审核委员会则需制定和审查ESG相关的管理

方针、策略、原则、政策、目标及议题的优次。

为了能更完善地监督本集团于ESG相关方面的

表现、问题和潜在风险，审核委员会需定期评估

及厘定本集团的ESG风险和机遇，以及就已制定

ESG相关目标及政策的有效性进行评核及检讨。

审核委员会亦需审阅本报告内的披露资料并建议

董事会通过，同时建议具体行动或决策以供董事

会考虑，以维持本报告的完整性。

为提高本集团ESG管治方面的有效性，本集团成

立了ESG工作小组（「工作小组」）以协助审核委

员会监督ESG相关事宜。工作小组由不同部门的

核心成员组成，其在ESG各方面的具备相关资

历及专业知识，以负责ESG管理的具体执行。

工作小组与独立第三方合作负责收集和分析ESG

数据、监测和评估本集团ESG相关表现、跟进及

检讨ESG相关目标的进度、确保遵守相关法律和

法规、协助开展重要性评估，以及编制本报告。

工作小组亦需每年举行至少一次会议，讨论本集

团于ESG相关方面的表现，并制定适当的解决方

案，以提高ESG政策的整体绩效。工作小组亦需

协助评估及识别本集团ESG风险及机遇，并确保

风险管理及内部控制系统的实施及有效性。审核

委员会连同工作小组需至少每年一次向董事会汇

报其调查结果、决定及建议。

Governance Level 治理层
Execution Level 执行层

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

ESG Working Group

ESG工作小组

Board of Directors

董事会

Audit Comite

审核委员会

Authorize授权

Monitor 监督

ESG Working Group Organizational Structure

ESG工作组织架构

REPORTING PERIOD

The Report details the ESG activities, chalenges and measures taken by

the Group as at the financial year ended 31 March 2025 (“FY2025” or

the “Reporting Period”).

REPORTING SCOPE

This reporting scope is mainly determined based on the importance of

ESG-related impacts of the Group’s operating locations. This Report

covers the Group’s major operating locations in the PRC, including

Precision Tsugami (China) Corporation (“PTC”), Shinagawa Precision

Machinery (Zhejiang) Co., Ltd. (“Shinagawa Precision”), and Precision

Tsugami (Anhui) Corporation (“Precision Tsugami Anhui”). Except as

specificaly stated, we obtained key performance indicators (“KPIs”) data

through the Group’s operating control mechanism. As the Group’s data

colection system becomes more mature and sustainable development

work depens, we wil continue to expand the reporting scope in the

future.

REPORTING FRAMEWORK

This Report has ben prepared in acordance with the Environmental,

Social and Governance Reporting Guide (the “ESG Reporting Guide”)

as set out in Apendix C2 of the Rules Governing the Listing of

Securities of The Stock Exchange of Hong Kong Limited (“HKEX”). For

information relating to the Group’s corporate governance practices,

please refer to the section headed “CORPORATE GOVERNANCE

REPORT” in the Anual Report.

报告期间

本报告详述本集团于截至二零二五年三月三十一

日止财政年度（「二零二五财年」或「本报告期」）

在ESG方面的活动、挑战和采取的措施。

报告范围

报告范围主要根据营运点ESG相关方面影响的

重要性而厘定。本报告涵盖本集团位于中国的

主要营运点，包括津上精密机床（浙江）有限公

司（「津上精密机床」）、浙江品川精密机械有限

公司（「品川精密」）及安徽津上精密机床有限公

司（「安徽津上」）。除了特别列明以外，我们通

过本集团的营运控制机制取得ESG关键绩效指标

（「关键绩效指标」）资料。待本集团之资料收集

系统更趋成熟，以及可持续发展工作深化之后，

我们将于未来继续扩大报告范围。

报告框架

本报告依照香港联合交易所有限公司（「联交

所」）证券上市规则附录C2《环境、社会及管治

报告指引》（「ESG报告指引」）所编制。有关本集

团的企业管治常规，请参阅年报中的「企业管治

报告」一节。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

During the preparation for this Report, the Group has aplied the

folowing reporting principles mentioned in the above ESG Reporting

Guide:

Materiality: The Group has conducted a Materiality Asesment to

identify material isues and has included the confirmed material isues

as the focus of this Report. The materiality of each of the isues was

reviewed and confirmed by the Board, the Audit Comite and the

Working Group. For further details, please refer to the sections headed

“STAKEHOLDER ENGAGEMENT” and “MATERIALITY ASESMENT”.

Balance: The source of information and cases of this Report are mainly

derived from the Group’s Statistical Reports, internal comunication

documents and other relevant documents. This Report does not contain

any false information or misleading statements. The Group acepts

responsibility for the contents of this Report as to its authenticity,

acuracy, and completenes and ensures that the information disclosed

truly reflect the overal ESG performance of the Group.

Quantitative: The standards, methodologies and aplicable asumptions

used in the calculation of KPIs data were suplemented in the

explanatory notes. The Group has established specific environmental

targets to mitigate and adres particular impacts.

Consistency: Unles otherwise stated, the preparation aproach of this

Report is consistent with the ESG report for the financial year ended

31 March 2024 (“FY2024”) for comparison purposes. If there are any

changes in the reporting scope or calculation methods that may afect

comparisons with previous Reports, the Group wil provide explanations

for the coresponding changes in the apropriate sections.

STAKEHOLDER ENGAGEMENT

The Group and its stakeholders comunicate and suport each other

through a two-way comunication mode to achieve mutual growth.

The Group values opinions from diferent stakeholders on its operation

and ESG maters and is comited to working with its stakeholders

to improve the Group’s ESG performance and to continue to create

greater value for the country and society. To fuly understand, respond

to and adres core concerns of diferent stakeholders, we have ben

maintaining close comunication with various stakeholders. We wil

continue to strengthen stakeholder engagement through constructive

dialogue to draw a blueprint for long-term prosperity.

在编写本报告时，本集团采用了上述ESG报告指

引中汇报原则，如下所示：

重要性：本集团开展了重要性评估，旨在识别重

大议题，并将已确定的重大议题作为本报告的编

制重点。每个议题的重要性已由董事会、审核委

员会和工作小组审阅及确认。有关进一步详情，

请参阅「持份者参与」及「重要性评估」两节。

平衡：本报告中的资料与案例，主要源自本集团

的统计报告、内部沟通文件及其他相关文件，不

存在任何虚假记载和误导性陈述。本集团对本报

告内容的真实性、准确性与完整性负责，确保所

披露的信息真实反映集团整体的ESG表现。

量化：计算关键绩效指标数据所使用的标准和方

法以及适用的假设中国均已于注释补充。本集团

已订立具体环境目标以减轻及解决特定影响。

一致性：除非另有说明，本报告的编制方法与截

至二零二四年三月三十一日止年度（「二零二四

财年」）ESG报告一致，以便进行比较。若报告

范围及计算方法出现任何可能影响与过往报告比

较的变化，本集团将在适当位置对相应变动予以

解释。

持份者参与

本集团与持份者以双轨沟通模式互相交流及支

持，达致共同成长。本集团重视持份者对经营及

ESG事宜之意见，积极与持份者合作，提升ESG

表现，持续为国家和社会创造更大价值。为全面

了解、回应及处理持份者核心关注点，本集团一

直与持份者紧密沟通。我们将继续透过建设性对

话，加强持份者参与度，规划长期繁荣发展蓝

图。

Stakeholders 持份者	Communication Channels 沟通管道	Expectations 期望
Investors and shareholders 投资者及股东	• Annual General Meeting and other shareholders’ meetings • 股东周年大会及其他股东会议 • Financial reports • 财务报告 • Announcements and circulars • 公告及通函 • The Group’s website • 本集团网站 • Investors meeting • 投资者会议	• Compliance with relevant laws and regulations • 遵守相关法律法规 • Timely release of the latest corporate information • 及时公布企业最新资讯 • Corporate sustainable development • 企业可持续发展 • Financial performance • 业绩 • Industry development trends • 行业发展趋势
Customers 客户	• Business meetings • 业务会议 • Customer service Hotline • 客服热线 • Email • 电邮 • Exhibitions • 展会	• Fulfilling product and service responsibilities • 履行产品及服务责任 • Customer information security • 客户资讯安全 • Business ethics • 商业道德 • Latest product introduction • 最新产品介绍 • Customer feedback management • 客户意见处理

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Through the engagement of diferent stakeholders and various

comunication chanels, we integrated their expectations into our

operation and ESG strategies. The Group’s comunication chanels

with its key stakeholders and their coresponding expectations are

outlined below:

通过不同的持份者参与及沟通管道，我们将他们

的期望带入我们的营运及ESG策略当中。本集团

与主要持份者的沟通管道及其相应的期望概述如

下：

Stakeholders 持份者	Communication Channels 沟通管道	Expectations 期望
Suppliers and partners 供应商与合作伙伴	• Supplier management meetings and events • 供应商管理会议及活动 • Business meetings • 业务会议 • Ongoing direct communication • 持续直接沟通	• Fair competition • 公平竞争 • Win-win cooperation • 合作共赢 • Business ethics • 商业道德
Employees 雇员	• Employee opinion survey • 员工意见调查 • Regular qualification assessments • 定期资格考核评定 • Employee training programmes • 员工培训课程 • Social media • 社交媒体 • Internal announcements • 内部公告 • Direct communication • 直接沟通	• Compensation and benefits • 薪酬与福利 • Career development • 职业发展 • Work environment • 工作环境 • Work performance • 工作表现 • Occupational health and safety • 职业健康与安全
Government and regulatory authorities 政府和监管机构	• Regulatory or voluntary disclosure • 监管或自愿披露 • News reporting • 新闻报道	• Promotion of employment • 促进就业 • Tax compliance • 依法纳税
Community, non-governmental organisations and media 社群、非政府机构及媒体	• Community investment programs • 社区投资计划 • The Group’s website • 本集团网站 • ESG Report • ESG报告 • News release • 新闻稿	• Giving back to Society • 回馈社会 • Environmental protection • 环境保护 • Corporate social responsibility • 企业社会责任 • Compliance operations • 合规经营 • Fair employment opportunities • 公平雇佣机会

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

MATERIALITY ASESMENT

The Group engages independent profesional organisations to conduct

surveys among internal and external stakeholders, gather their fedback,

and prioritise isues through materiality analysis. This provides valuable

reference for enhancing the Company’s ESG management and enables

us to beter adres the expectations and concerns of our stakeholders.

Going forward, we wil continue to monitor the key concerns of al

stakeholders based on the Company’s ESG materiality matrix, ensuring

that materiality ESG-related isues are acurately reflected in the

Company’s curent operations.

重要性评估

本集团通过聘请独立专业机构对内外部利益相关

方开展问卷调研，收集利益相关方的意见，并按

照议题重要性分析对议题进行优先顺序排序，为

本公司完善ESG管理提供参考，更好地回应利

益相关方的期望与诉求。我们在未来将基于公司

ESG重要性矩阵，持续跟进各利益相关方的关注

焦点，以确保ESG相关的重要性议题可以真实反

映公司的现状。

Isue Identiﬁcation

议题识别

•Based on the

Company’s

development

strategy and

busines model,

in conjunction

with the

Sustainable

Development

Acounting

Standards Board

SASB), national

policies, capital

market

requirements,

benchmarking

analysis of

leading pers,

and an

asesment of

stakeholder

concerns, 23

topics have

ben selected.

•基于本公司的

发展战略及业

务模式，结合

可持续发展会

计准则委员会

(SASB)、国家

政策、资本市

场要求，根据

优秀同业对标

分析结果，并

通过分析利益

环境、社会及管治报告

Materiality Matrix

Below is the Group’s FY2025 materiality matrix:

Serial NumberTopic

1Grenhouse Gas Emisions and Management

2Energy Consumption

3Water Resource Consumption

4Wastewater Discharge and Management

5Air Emisions and Management

6Waste Management

7Paper Consumption

8Packaging Material Consumption

9Environmental Risk Management

10Climate Change

11Prevention of Child and Forced Labour

12Ocupational Health and Safety

13Employe Development and Training

14Promoting Diversity

15Protection of Employe Rights and Interests

16Product and Service Quality

17Customer Satisfaction

18Comunity Engagement and Contribution

19Protection of Customer Privacy

20Protection of Intelectual Property

21Suply Chain Management

22Enhancing Risk Management

23Anti-Coruption and Anti-Money Laundering

重要性矩阵

以下为本集团二零二五财年重要性矩阵图：

序号议题

1温室气体排放与管理

2能源消耗

3水资源消耗

4污水排放与管理

5废气排放与管理

6废弃物管理

7纸张消耗

8包装材料消耗

9环境风险管理

10气候变化

11防止童工及强制劳工

12职业健康及安全

13员工发展与培训

14促进多样性

15员工权益保障

16产品及服务品质

17客户满意度

18社区参与及贡献

19保护客户隐私

20保护智慧财产权

21供应链管理

22加强风险管理

23反贪污与反洗钱

对津上的重要性

Significance to Tsugami

对

持

份

者

的

重

要

性

重要性矩阵

Materiality Matrix

Category 类别	Environmental Targets 环境目标	Progress Made in FY2025 二零二五财年取得的进展
Exhaust Gas Emissions 废气排放	Reduce exhaust gas emissions and progressively lower the Group’s carbon footprint. 减少废气排放，逐步降低集团的碳足迹。	Due to a substantial increase in business operations, the volume of exhaust gas emissions has risen compared to the FY2024. The company has always been actively fulfilling its environmental responsibilities, continuously investing efforts and resources to reduce the emissions level. 由于商业活动的大幅增加，废气排放量相较于上一年度有所上升。公司始终积极践行环保责任，持续投入精力与资源，致力于降低排放水平。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

The Group welcomes coments and sugestions from stakeholders.

If you have any opinions on this Report or the Group’s performance in

sustainable development, please fel fre to contact us via the folowing

methods:

Tel: 0573-8529 8093

Website: htps:/w.tsugami.com.cn/

E-mail: ir@tsugami.com.cn

A. ENVIRONMENT

Environmental Targets

As the negative impacts of climate change on the environment and

society become increasingly aparent, stakeholders acros society are

gaining a deper understanding of the importance of environmental

protection. The Group consistently upholds the concept of sustainable

development, viewing the reduction of environmental impact as a key

corporate mision. We actively fulfil our social responsibility and are

comited to establishing a gren, low-carbon, and environmentaly

friendly busines operation model.

The Group has designated fiscal year 2020 as the base year and

established a series of environmental targets, planing to progresively

advance the optimization of various types of emisions and achieve a

reasonable reduction in emision levels by 31 March 2030. To this end,

the Group has strengthened the management of material isues and

sustainable development performance, optimised busines practices,

and continuously monitors and reviews target progres, actively

implementing coresponding measures to facilitate the achievement

of these objectives. The folowing table and subsequent sections wil

provide a detailed overview of target progres, relevant data, and

year-on-year comparisons, clearly ilustrating the Group’s eforts and

achievements in environmental protection.

与我们联络

本集团欢迎持份者提供意见及建议。阁下可就

本报告或本集团在可持续发展方面的表现提供宝

贵意见，并通过以下方式与本集团联络：

电话：0573-8529 8093

网址： htps:/w.tsugami.com.cn /

电邮：ir@ tsugami.com.cn

A. 环境

环境目标

随著气候变化对环境与社会产生的负面影响日益

凸显，社会各利益相关方对环境保护重要性的认

知不断深化。本集团始终坚守可持续发展理念，

将降低对环境的影响作为企业发展的重要使命，

积极履行社会责任，致力于构建绿色、低碳、环

保的企业运营模式。

本集团以二零二零财年为基准年，制定了一系列

环境目标，计划截止二零三零年三月三十一日，

逐步推进各类别排放的优化工作，实现排放水准

的合理降低。为此，本集团强化了对相关重大议

题及可持续发展绩效的管理，优化业务实践，并

持续监控、审查目标进展，积极采取相应措施推

动目标达成。以下表格及后续章节将详细呈现目

标进展、相关数据以及同比较情况，直观展示

本集团在环境保护方面的努力与成果。

Category 类别	Environmental Targets 环境目标	Progress Made in FY2025 二零二五财年取得的进展
Greenhouse Gas (“GHG”) Emissions 温室气体（「温室气体」）排放	Reduce GHG emissions and progressively lower the Group’s carbon footprint. 减少温室气体排放，逐步降低集团的碳足迹。	Due to a substantial increase in business operations, GHG emissions have risen compared to the base year. However, the emission intensity has decreased by 11% compared to the FY2024. 由于商业活动的大幅增加，温室气体排放量与基准年相比有所增加。然而，与2024财年相比，排放密度下降了11%。
Waste 废弃物	Promote source reduction and recycling to minimise waste generation. 提倡源头减废及回收再用，减少废弃物的产生。	The total generation of both hazardous and non-hazardous wastes has increased. However, the wastes generation intensity has remained largely unchanged compared to the FY2024. 有害废弃物和无害废弃物虽然总产生量有所增长，但是密度相较于2024财年基本维持不变。
Energy Consumption 能源消耗	Enhance processes and control the production process to reduce energy consumption. 改善工艺和控制生产过程，降低能源消耗。	Due to a substantial increase in business operations, energy consumption has risen compared to the base year. However, the emission intensity has decreased by 10% relative to the FY2024. 由于商业活动的大幅增加，能源消耗量与基准年相比有所增加。然而，与2024财年相比，排放密度下降了10%。
Water Consumption 水资源消耗	Improve water use efficiency and reduce potable water waste. 改善用水效益，减少食水浪费。	Due to the launch of the fifth plant area during the Reporting Period, water consumption has increased significantly compared to the FY2024, while the emission intensity has decreased by 4%. 由于本报告期启动了第五厂区，水资源消耗量与2024财年相比，大幅增长，排放密度下降了4%。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Through the formulation and implementation of the aforementioned

targets, the Group has made significant progres in environmental

protection. In FY2025, the Group wil continue to advance steadfastly

towards its sustainable development goals, increase investment in

environmental protection, strengthen environmental management,

continuously optimise busines practices, and make greater

contributions to gren development and the protection of the ecological

environment.

透过上述一系列目标的制定与实施，本集团在环

境保护方面已取得了一定进展。在二零二五财

年，本集团将继续坚定地朝著可持续发展目标迈

进，加大环保投入，强化环境管理，不断优化业

务实践，为实现绿色发展、保护生态环境贡献更

大的力量。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

A1. Emisions

The Group places great emphasis on environmental

management and considers environmental protection a

vital aspect of fulfiling its social responsibility. In its daily

operations, the Group has established a comprehensive

environmental management system and operational

procedures, exercising strict control over emisions,

GHG emisions, wastewater discharge, and the disposal

of hazardous and non-hazardous waste. The Group is

fuly comited to sustainable development and actively

contributes to environmental protection.

The Group has obtained an ISO 14001:2015 Environmental

Management System certificate, aiming to minimise the

potential adverse environmental impacts of its operations

and actively engage in the protection of natural resources.

In its operations, the Group strictly complies with national

environmental protection laws and regulations to ensure

that al busines activities are lawful and compliant. The

specific laws and regulations observed include, but are not

limited to:

– Law of the People’s Republic of China on the

Prevention and Control of Environmental Polution by

Solid Wastes

– Environmental Protection Law of the People’s Republic

of China

– Law of the People’s Republic of China on the

Prevention and Control of Atmospheric Polution

– Water Polution Prevention and Control Law of the

People’s Republic of China

– Law of the People’s Republic of China on Environmental

Impact Apraisal

During the Reporting Period, the Group recorded no

violations of the aforementioned environmental laws and

regulations regarding emisions and GHG emisions,

water and land polution, or the disposal of hazardous and

non-hazardous waste, thereby seting a strong example for

environmentaly compliant operations.

A1. 排放物

本集团高度重视环境管理工作，

将保护环境视为履行社会责任的

重要一环。针对日常营运活动，

本集团制定了一套完善的环保

管理制度与操作规程，对废气排

放、温室气体排放、污水排放，

以及有害与无害废弃物的处置等

环节进行严格管控，全力追求可

持续发展，为环境保护贡献力量。

本集团已获得ISO14001:2015

环境管理体系认证，旨在将运营

活动对环境的潜在不利影响降至

最低限度，并积极投身于自然资

源的保护工作。在运营过程中，

本集团严守国家环境保护法律法

规，确保各项业务活动合法合

规。具体遵循的法律法规包括不

限于：

《中华人民共和国固体废物污染环

境防治法》

《中华人民共和国环境保护法》

《中华人民共和国大气污染防治

法》

《中华人民共和国水污染防治法》

《中华人民共和国环境影响评价

法》

于本报告期间，本集团在废气及

温室气体排放、水及土地排污，

以及有害与无害废弃物处置等方

面，均未出现任何违反上述环保

法律法规的情况，为环境合规运

营树立了良好典范。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Emision Control

Exhaust Gas Emisions

With respect to emision management, the Group has

established regular inspection and real-time monitoring

mechanisms. Each year, the Group engages a profesional

third-party testing agency to conduct comprehensive

emision testing, focusing on polutant concentrations at

emision outlets, including particulates, total non-methane

hydrocarbons, acetate esters, and benzene series

compounds. Folowing testing, the results are meticulously

compared and evaluated against the Ambient Air Quality

Standards in the PRC to ensure that emisions met

regulatory requirements. Meanwhile, the Group integrates

emisions data into the monitoring platform of the Ministry

of Ecology and Environment of the PRC, enabling 24-hour

uninterupted real-time supervision. Should any abnormal

emision data be detected, the Group wil imediately

implement corective measures to ensure ongoing

compliance with national standards.

Al machinery used in the Group’s production facilities is

with minimal negative environmental impact. During

the Reporting Period, the Group’s emisions primarily

originated from the use of petrol and diesel by vehicles.

To efectively limit emisions generated by transportation

activities and minimise environmental impact, the Group

has developed and implemented a series of emision

reduction measures, including but not limited to:

• Encourage employes to comute by public

transportation and to use environmentaly friendly

vehicles instead of high-emision vehicles;

• Encourage employes to carpol whenever posible

during busines trips, and to optimise routes and

itineraries to reduce vehicle usage and energy

consumption;

• Utilise electronic means of comunication such as

video conferencing to reduce the number of trips;

• Purchase standard vehicle fuel and conduct

regular inspections and maintenance of vehicles

and other mobile machinery to ensure compliance

with relevant emision standards and to prevent

ineficient energy consumption;

排放控制

废气排放

于废气排放管理上，本集团设有

定期检测及实时监管机制。每年

皆会委托专业第三方检测机构，

对废气排放作全面检测，检测重

点为排放口处的颗粒物、非甲烷

总烃、乙酸酯类及苯系物等污染

物含量。检测后，将结果与中国

《环境空气质量标准》细致比对评

估，确保排放达标。同时，本集

团将废气排放数据接入中国生态

环保部监测平台，实现24小时不

间断实时监管。若发现排放数据

异常，本集团会即刻采取整改措

施，保障排放持续符合国家标准。

本集团生产厂房所使用的机器均

以电力为动力源，具有清洁、高

效的特点，对环境的负面影响极

小。于本报告期间，本集团的废

气排放主要来源于车辆使用的汽

油及柴油。为有效限制运输活动

所产生的废气排放，降低对环境

的影响，本集团制定并实施了一

系列减排措施，包括但不限于：

• 鼓励员工使用公共交通

勤及使用更环保的车辆而

非高污染车辆；

• 鼓励员工出差时尽量车辆

共乘，优化路线和行程，

以减少车辆使用量及能源

消耗；

• 利用视频会议等电子通讯

手段减少出差次数；

，并定

期检查和保养车辆及其他

移动机器，以确保符合相

关的排放标准及避免低效

能源消耗；

FY2025 二零二五财年
254.51
1.60
23.38

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

• Require operators and drivers to turn of machines

and vehicles when in standby mode;

;

• Encourage employes to use shared bicycles within

the factory premises;

;

and

• Actively implement the emision reduction measures

outlined in the “GHG emisions” section in this

aspect.

During the Reporting Period, with the significant expansion

of the busines scale, the overal exhaust gas emisions

of the Group increased compared to FY2024. Notably, the

growth rate of exhaust gas emisions is lower than the

growth rate of production volume during the same period.

The specific performance is as folows:

Type of exhaust gas

废气种类

Unit

单位

FY2024

二零二四财年

Nitrogen oxides (NO

)

氮氧化物(NO

)

千克

225.14

Sulphur oxides (SO

)

硫氧化物(SO

)

千克

1.48

Particulate mater (PM)

颗粒物(PM)

千克

20.74

1 The calculation method of exhaust gas emisions is based on How

to prepare an ESG Report – Apendix 2: Reporting Guidance on

Environmental KPIs isued by HKEX.

GHG Emisions

The Group’s GHG emisions primarily originate from thre

sources: petrol and diesel consumed by vehicles (Scope

1), purchased electricity (Scope 2), and busines travel

activities (Scope 3).

• 规定操作员和驾驶员在待

机状态下关闭机器和车辆；

• 增加油电混合混动车辆的

使用；

• 鼓励员工在厂区内使用共

享自行车；

• 逐步使用电动叉车代替柴

油叉车；及

「温室气

体排放」一节中所说明的减

排措施。

于本报告期间，伴随业务规模的

显著扩张，本集团整体废气排放

量较二零二四财年有所上升。值

得关注的是，废气排放量增幅低

于同期生产量的增长幅度，具体

表现如下：

1 废气排放数据计算乃参照联交所颁

布的《如何准备环境、社会及管治

报告－附录二：环境关键绩效指

标汇报指引》。

温室气体排放

本集团的温室气体排放主要源自

三个方面：车辆消耗的汽油及柴

油（属范畴一）；外购电力（属范畴

二）；差旅活动（属范畴三）。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

To proactively reduce GHG emisions, the Group has

vigorously implemented electricity and energy-saving

initiatives. In ofice areas, the usage duration and methods

of electrical equipment are strictly regulated. In the

production proces, the Group optimises the proces

flow of machining equipment to shorten procesing times,

thereby efectively reducing power consumption. For

detailed explanations of these specific measures, please

refer to the “Exhaust Gas Emisions” in this aspect and

“Energy Consumption” in aspect A2.

In adition, the Group actively promotes the use of

electronic comunication methods, such as telephone

and video conferences, to replace long-distance, in-person

metings, thereby significantly reducing carbon emisions

asociated with busines travel. At the same time,

the Group places strong emphasis on advocating and

diseminating its environmental philosophy. On one hand,

gren information notices and environmental protection

posters are displayed in ofice areas to foster a strong

atmosphere of environmental protection. On the other

hand, the Group regularly organises tre planting and

grening activities to convey environmental mesages

to employes through practical actions, enhance their

environmental awarenes, and actively promote efective

environmental management practices.

为积极削减温室气体排放，本集

团大力推行节电与节能举措。在

办公场所，严格管控电器设备的

使用时长与方式；于生产环节，

透过优化加工设备的工艺流程，

缩短加工时长，从而有效降低电

力消耗。关于这些具体措施的详

细说明，可参阅本层面「废气排

放」部分以及A2层面「能源消耗」

章节。

此外，本集团大力倡导以电话会

议、视频会议等电子沟通方式，

替代长途的实地面对面会议，藉

此大幅削减因商务差旅而产生的

碳排放。与此同时，本集团亦注

重环保理念的宣导与传播。一方

面，在办公区域张贴绿色资讯告

示及环保海报，营造浓厚的环保

氛围；另一方面，定期组织植树

绿化活动，以实际行动向雇员传

递环保讯息，提升其环保意识，

并积极推广行之有效的环境管理

实践。

FY2025 二零二五财年
273.60
18,984.41
107.09
1.31
19,363.79
1.48

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

During the Reporting Period, although the total GHG

emisions increased as a result of busines expansion,

the Group’s eforts in energy conservation and emision

reduction remained steadfast. Notable progres was

achieved in controling emision intensity and promoting

our environmental philosophy. Loking ahead, the Group

wil further strengthen its initiatives in energy conservation

and emision reduction, explore aditional low-carbon

development pathways, and make every efort to minimise

GHG emisions while sustaining busines growth. In doing

so, we aim to make a greater contribution to adresing

climate change. An overview of the Group’s GHG

emisions performance is as folows:

Indicators

指标

Unit

单位

FY2024

二零二四财年

Direct GHG emisions (Scope 1)

直接温室气体排放（范围一）

tCO

吨二氧化碳当量

254.56

Energy indirect GHG emisions (Scope 2)

能源间接温室气体排放（范围二）

tCO

吨二氧化碳当量

13,994.48

Other indirect GHG emisions (Scope 3)

其他间接温室气体排放（范围三）

tCO

吨二氧化碳当量

79.80

Reductions of GHG emisions

温室气体排放减排量

tCO

吨二氧化碳当量

Not aplicable

不适用

Total GHG emisions

温室气体排放总量

tCO

吨二氧化碳当量

14,328.84

Emision intensity

密度

tCO

e/production unit

吨二氧化碳当量╱生产单位

1.66

2 GHG emisions data are presented in terms of carbon dioxide

equivalent, and referenced to, including but not limited to, the

GHG Protocol: A Corporate Acounting and Reporting Standard

isued by the World Resources Institute and the World Busines

Council for Sustainable Development, How to prepare an ESG

Report – Apendix 2: Reporting Guidance on Environmental KPIs

isued by HKEX, the global warming potential values from the Fifth

Asesment Report and the Sixth Asesment Report published

by the Intergovernmental Panel on Climate Change, the Notice

on the Management of Enterprise GHG Emisions Reporting of

Power Generation Industry for 2023-2025 isued by the Ministry

of Ecology and Environment of the PRC, and the ICAO carbon

emisions calculator.

3 As at 31 March 2025, the Group’s total production units were

aproximately 13,079 units (FY 2024: aproximately 8,613 units).

This data is also used for calculating other density metrics.

于本报告期间，虽因业务扩张使

得温室气体排放总量增加，但本

集团在节能减排方面的努力并未

停歇，且在排放强度控制、环

保理念推广等方面取得了一定成

效。未来，本集团将继续加大节

能减排力度，探索更多低碳发展

路径，在保持业务增长的同时，

尽最大努力降低温室气体排放，

为应对气候变化做出更大贡献。

本集团的温室气体排放表现概述

如下：

2 温室气体排放资料乃按二氧化碳当

量呈列，并参照包括但不限于世界

资源研究所及世界可持续发展工商

理事会刊发的《温室气体盘查议定

书：企业会计与报告标准》、联交

所发布的《如何准备环境、社会及

管治报告－附录二：环境关键绩

效指标汇报指引》、政府间气候变

化专门委员会发布的《第五次评估

报告》及《第六次评估报告》的全球

升温潜能值、中国生态环境部刊发

的《关于做好2023-2025年发电行

业企业温室气体排放报告管理有关

工作的通知》，以及国际民航组织

碳排放量计算器。

3 截至二零二五年三月三十一日止，

本集团总生产单位为约13,079台

（二零二四财年：约8,613台）。此

资料亦会用作计算其他密度资料。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Sewage Discharge

The Group’s wastewater discharge is primarily categorised

into domestic wastewater and factory production

water. In the area of factory water management, the

Group consistently upholds the concept of sustainable

development, actively implements water resource recycling

strategies, and is comited to achieving both eficient

water resource utilisation and environmental protection.

To ensure stable circulating water quality and met

production requirements, the Group employs a water

quality monitoring system to conduct real-time, precise

monitoring of key indicators such as circulating water

concentration. By determining whether the circulating

water mets the criteria for continued use, the Company

ensures a stable and reliable water suply for production.

Typicaly, the circulating water is fuly replaced every six

months to maintain optimal water quality and ensure that

the production proces is not afected by fluctuations in

water quality.

To minimise the los of water resources during the

circulation proces, the Group is equiped with

specialised protective equipment, efectively reducing

water evaporation. When circulating water ultimately

reaches the disposal standard, the Group strictly adheres

to environmental protection regulations and treatment

procedures, integrating it with domestic wastewater into

a unified sewage treatment system. This mixture is then

conveyed through the municipal sewage pipeline network

to local sewage treatment plants for advanced procesing.

As a result, the Group’s total water consumption is

equivalent to its wastewater discharge volume. The data

on the Group’s total water consumption wil be explained

in the section headed “Water Consumption” under aspect

A2.

污水排放

本集团排放的污水主要分为生活

污水与工厂生产用水两大类。在

工厂用水管理领域，本集团始终

秉持可持续发展理念，积极推行

水资源循环利用策略，致力于实

现水资源的高效利用与环境保护

的双赢。

为确保循环水品质稳定、满足生

产需求，本集团通过水质监测体

系，对循环水的浓度等关键指标

进行即时、精准监测。通过识

别循环水是否具备继续使用的条

件，从而为生产提供稳定可靠的

水源保障。通常情况下，循环水

每半年会进行一次全面更换，以

此维持水质的优良状态，确保生

产过程不受水质波动影响。

为减少水资源在循环过程中的损

耗，本集团配备了专业的防护设

备，有效降低水的挥发量。当循

环水最终达到报废标准时，本

集团严格遵循环保法规与处理流

程，将其与生活污水一同纳入统

一的污水处理体系，经市政污水

管网输送至地方污水处理厂进行

深度处理。因此本集团水资源消

耗总量即为污水排放量。本集团

的水资源消耗总量数据将于A2层

面中「水资源消耗」一节中说明。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Waste Management

The Group consistently upholds waste management

principles, ensuring the proper handling and responsible

disposal of al waste generated from busines activities.

Acordingly, the Group has established clear and

specific waste management guidelines to ensure precise

identification and clasification of waste, centralised

storage, and unified disposal. In adition, designated

personel are responsible for promptly managing waste

and maintaining environmental hygiene around colection

bins. Al waste management initiatives of the Group strictly

comply with relevant environmental laws and regulations.

Hazardous Waste

The Group has established the Hazardous Waste

Management Regulations. In acordance with these

regulations, al hazardous waste is colected and procesed

by authorized agents with the necesary qualifications.

The quantity of disposed waste is meticulously recorded

and carefuly cros-checked with contractor reports to

ensure the proces is thorough and apropriate. The

Group requires al departments to colect and store waste

in acordance with the regulations, and to transport

hazardous waste to designated warehouses within the

specified timeframe. Employes are strictly prohibited from

storing hazardous waste outside of these warehouses.

Only designated hazardous waste managers are authorised

to handle storage operations; other employes are not

permited to enter the storage area without authorisation.

Managers must regularly inspect storage containers to

prevent leaks. In the event of a leak, prompt measures

must be taken to replace the storage container.

Furthermore, al containers must be clearly labeled with the

name and identification of the waste. Reactive hazardous

liquids must be stored separately in designated containers.

Hazardous waste generated by each department must

be registered prior to being sent to storage facilities, and

records must be properly maintained.

废弃物管理

本集团始终坚守废弃物管理原

则，致力于妥善处理并合理弃置

业务活动所产生的全部废弃物。

为此，本集团制定了清晰且具体

的废弃物管理指引，对废弃物进

行精准识别分类、集中存放以及

统一弃置。同时，指定管理责任

人及时处理废弃物，并维持收集

箱周边的环境卫生。本集团所有

废弃物管理举措均严格遵循相关

环保法律法规。

有害废弃物

本集团制定了《危废管理规定》。

依据规定，所有害废弃物均由

具备处理资质的授权代理负责

收集与处理。处置的废弃物数量

会详细记录，并与承包商报告仔

细核对，确保处理过程全面且恰

当。本集团要求各部门依照规定

收集、储存废弃物，并在规定时

间内将有害废弃物运送至专门仓

库。员工严禁在仓库以外区域存

放有害废弃物。仅被指定的有害

废弃物管理员有权负责储存工

作，其他员工未经许可不得进入

储存区域。管理员需定期检查储

存罐，防止出现泄漏情况。一旦

发现泄漏，必须及时采取措施更

换储存罐。此外，所有容器都要

张贴标明废弃物名称及标识的标

签，具有反应性的有害液体需单

独存放在特定容器中。各部门产

生的有害废弃物在送往储存设施

时均需进行登记，并妥善保存记

录。

FY2025 二零二五财年
0.13
104.67
127.54
37.81
13.25
7.45
2.22
0.61
0.73
294.41
0.02

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

To further reduce environmental impact, the Group has

developed an energy-saving and waste minimisation

solution for waste liquid treatment. This solution enables

water-soluble waste liquid to first undergo oil and residue

removal, folowed by low-temperature evaporation to

convert it into coling water (recycled water). The recycled

water is then further purified to met the standards

required for washing or proces water within the factory.

Folowing the implementation of this solution, hazardous

waste output has ben reduced, achieving significant

waste liquid minimisation while also lowering hazardous

waste treatment costs. Furthermore, the Group has

replaced disposable bateries used in equipment with

rechargeable bateries, efectively reducing the generation

of waste bateries.

During the Reporting Period, although the total volume of

hazardous wastes emisions increased significantly due

to busines expansion, the emision intensity remained

almost unchanged compared to the FY2024. An overview

of hazardous wastes generated by the Group is as folows:

Types of hazardous wastes

有害废弃物种类

Unit

单位

FY2024

二零二四财年

Electronic wastes

电子废弃物

tones

吨

0.09

Mineral oil waste

废矿物油

tones

吨

122.54

Emulsion waste

废乳化液

tones

吨

13.72

Grinder mud waste

废磨床泥

tones

吨

25.95

Paint bucket waste

废油漆桶

tones

吨

9.35

Waste filter material

废过滤材料

tones

吨

4.50

Filter media waste

废过滤介质

tones

吨

1.40

Resin waste

废树脂

tones

吨

0.63

Waste paint residue

废油漆渣

tones

吨

Not aplicable

不适用

Total hazardous wastes generated

有害废弃物产生总量

tones

吨

178.18

Intensity

密度

tones/production unit

吨╱生产单位

0.02

4 In FY2025, the Environmental Protection Agency adjusted the

clasification criteria for waste oil. Due to the higher water content

in waste oil at that time, it gradualy reclasified the waste oil as

emulsion. This change in clasification criteria altered the statistical

categories, leading to a significant increase in the statistical data

on emulsion production and a decrease in waste mineral oil.

为进一步降低对环境的影响，本

集团制定了节能减量的废液处理

解决方案。该方案可使水溶性废

液先经除油除渣设备处理，随后

通过低温蒸发转化为冷郤水（再

生水），再利用净化设备对再生水

进行深度净化，使其达到工厂内

洗涤用水或生产工艺用水标准。

该方案实施后，有害废弃物产出

量减少，实现了废液减量，同时

降低了有害废弃物处理成本。此

外，本集团将设备使用的一次性

电池更换为可充电池，有效减

少了废弃电池的产生。

于本报告期间，虽因业务扩张致

使有害废弃物排放总量大幅增

加，但排放密度较之二零二四财

年几乎维持不变。本集团所产生

的有害废弃物概述如下：

4 2025财年，环保局调整了废油的

分类判定标准，由于此时废油含

水量较高，便逐步将其归类为乳化

液。这一分类标准的变更，使统计

类别发生改变，进而导致乳化液产

生量的统计数据大幅增加，废矿物

油减少。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Non-hazardous Waste

The Group has established the PTC Regulations on

the Disposal of Recyclables, which clearly define the

procedures for managing non-hazardous waste. During the

Reporting Period, non-hazardous waste generated from

the Group’s busines operations primarily consisted of

general waste, paper, plastic, fod waste, and waste ash.

Al discarded paper was recycled.

To minimise the environmental impact of non-hazardous

waste generated by busines operations, the Group

has implemented a range of measures for handling

non-hazardous waste and introduced a series of waste

reduction initiatives. These measures include, but are not

limited to:

• Organise and maintain the waste clasification

system and recycling containers, colecting

wastepaper, metals, fod waste, and more;

• Display posters and clearly label the types of waste

or recyclable materials on the waste bins;

• Sort recyclable waste into the apropriate

containers;

• Educate employes on methods of waste

clasification; and

• Asign administrative personel to manage the

transportation of waste and recyclables for the

colection of garbage and recyclable materials.

Furthermore, the Group ofers recomendations to

employes regarding cafeteria waste isues to raise

awarenes of waste reduction. Surveilance cameras

have ben instaled in the cafeteria to monitor and reduce

the daily amount of fod available for composting. If

employes are found to be wasting fod, they wil receive a

verbal warning for the first ofense; repeated violations wil

result in disciplinary action. The Group seks to cultivate

environmental awarenes among employes and to share

responsibility for the disposal of non-hazardous waste.

无害废弃物

本集团制定了《津上精密机床可回

收物品处理规定》，明确了无害废

弃物的相关处理规则。于本报告

期间，本集团业务活动产生的无

害废弃物主要包含一般垃圾、纸

张、塑料、食物垃圾以及废灰。

其中，所有弃置的纸张均已回收。

为最大程度降低业务营运所产生

的无害废弃物对环境的影响，本

集团已落实多项处理无害废弃物

的措施，并推出一系列减少废弃

物的方案，相关措施包括但不限

于：

• 组织和维护废弃物分类系

统和回收箱，收集废纸、

金属和食物垃圾等；

，并在垃圾箱上

注明废弃物或可回收利用

的种类；

• 将回收废弃物分类到适当

的容器中；

• 对员工进行废弃物分类方

法教育；及

• 指派行政人员管理运输废

弃物和可回收物，以进行

垃圾和回收废弃物的收集。

此外，本集团针对食堂浪费问题

向员工提出建议，以提升员工对

浪费现象的重视程度。食堂内安

装了监控摄像头，用于管控及减

少每日可用于堆肥的食物量。若

员工被发现有浪费食物的行为，

初次将予以口头警告，再次违规

则会受到纪律处分。本集团期望

在员工群体中树立环保意识，共

同承担无害废弃物处理的责任。

FY2025 二零二五财年
69.00
17.74
62.00
3,391.80
3,540.54
0.27

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Regarding ofice paper usage, the Group has implemented

a range of environmental protection measures in line with

the principle of minimising the negative impact of busines

operations on the environment. To ensure the eficient

use of paper and provide convenience to both employes

and customers, the Group ofers customers the option of

paperles biling and requires employes to give priority to

using recycled paper for printing. Furthermore, the Group

encourages employes to minimise paper consumption

and actively promotes electronic comunication methods

for directories, forms, reports, and data storage. Al used

paper, cartons, and envelopes, including non-confidential

documents, are recycled by the Group. In factories with

complex production proceses, the Group equips each

machine with a tablet, enabling inspection checklists to

be managed in a paperles format. Information such as

working hours and proces details can be displayed on the

tablet, which not only enhances operational eficiency but

also further reduces paper consumption, in line with the

Group’s environmental philosophy.

During the Reporting Period, although the total volume of

non-hazardous waste emisions has substantialy increased

due to busines expansion, the emision intensity only

witnesed an 8% rise compared to the FY2024. The

folowing provides an overview of the non-hazardous waste

generated by the Group:

Types of non-hazardous wastes

无害废弃物种类

Unit

单位

FY2024

二零二四财年

General wastes

一般垃圾

tones

吨

27.00

Paper

纸张

tones

吨

15.42

Plastic

塑料

tones

吨

53.63

Waste ash

废灰

tones

吨

2,045.59

Total non-hazardous wastes generated

无害废弃物产生总量

tones

吨

2,141.64

Intensity

密度

tones/production unit

吨╱生产单位

0.25

在办公用纸方面，本著尽可能

降低业务营运对环境造成负面

影响的原则，本集团实施了诸多

环保措施。为确保纸张得到高效

利用，同时为员工及客户提供便

利，本集团为客户提供无纸化帐

单的选择，并要求员工优先使用

再生纸进行打印。此外，本集团

鼓励员工尽量减少纸张使用，在

名录、表格、报告及资料储存等

方面，积极推行电子化通讯方

式。对于已使用过的纸张、纸箱

及信封，包括所有非机密文件，

本集团均会进行循环再利用。在

生产工序复杂的工厂中，本集团

在每台机器上配备平板电脑，将

点检表转为无纸化模式。工时和

工序等信息均可在平板电脑上呈

现，既提升了工作效率，又进一

步减少了纸张消耗，契合本集团

的环保理念。

于本报告期间，虽因业务扩张致

使无害废弃物排放总量大幅增

加，但排放密度较之二零二四财

年仅增长8%。本集团所产生的无

害废弃物概述如下：

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

A2. Use of Resources

The Group is comited to actively promoting the eficient

use of resources, promptly monitoring the potential

environmental impacts of its busines operations and

vigorously advancing gren ofice and operational practices

to minimise the environmental impact of its activities.

The Group’s employes embrace a strong environmental

philosophy and voluntarily conserve resources, such as

electricity, petrol, diesel, and water. Furthermore, the

Group has established relevant policies and systems to

manage resource utilisation throughout its operations more

eficiently.

Energy Consumption

The Group actively practices the principles of energy

conservation and emision reduction and has established

clear Administration of Energy and Resources to control

and reduce unecesary energy consumption, ensuring the

eficient utilisation of resources.

Conserving the Use of Metal Castings

In our pursuit of both manufacturing excelence and our

environmental philosophy, the Group actively implements

a series of inovative strategies to optimise the eficiency

of metal casting utilisation. We make extensive use

of advanced precision analysis software to conduct

multi-dimensional profesional analysis of the core

components of our machine tols, striving for an optimal

design balance among key factors such as weight,

strength, rigidity, and heat transfer performance. This

initiative has not only achieved a substantial reduction

in consumable usage, but has also enhanced the

overal rigidity of the machine tol while streamlining the

manufacturing proces, resulting in dual optimisation of

manufacturing convenience and performance.

A2. 资源使用

本集团秉持积极推动资源有效运

用的宗旨，即时监察业务营运对

环境可能造成的潜在影响，并大

力推广绿色办公及营运模式，力

求将营运活动对环境的冲击降至

最低限度。本集团员工均深具环

保理念，自发珍惜电力、汽油、

柴油及水等资源。此外，本集团

已制定相关政策与制度，以更高

效地管理营运过程中的资源运用。

能源消耗

本集团积极践行节能减排理念，

并已制定明确的《能源资源管理规

定》，以控制并减少非必要的能源

消耗，确保资源得以有效运用。

节约金属铸件使用

本集团在追求卓越制造效能与环

保理念并重的道路上，积极推行

一系列创新策略以优化金属铸件

的使用效率。我们深度运用精密

解析软件，对机床各核心零部件

进行多维度的专业分析，在重

量、强度、刚性及传热效能等关

键因素间寻求精妙设计平衡。这

一举措不仅实现了耗材的大幅降

低，更在提升机床整体刚性的同

时，简化了制造流程，达成了制

造便捷性与效能提升的双重优化

效果。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Compared with the traditional design mode, the curent

standard design aproach for high-precision machine

tols adopted by the Group has demonstrated remarkable

efectivenes. This design aproach not only efectively

reduces the consumption of casting materials but also

drives a significant increase in production output. During

the Reporting Period, production output has increased

significantly, while the consumption of casting materials

per unit of product has droped notably. This strongly

demonstrates the dual outstanding efectivenes of the

new design aproach in enhancing production eficiency

and controling costs. This measure not only efectively

aleviates resource presures, but also significantly

reduces energy consumption during both the casting

and subsequent procesing stages, aligning with the

global trend towards gren manufacturing. In the actual

production proces at the factory, the Group has

further implemented inteligent upgrading strategies.

By comprehensively deploying robotic arm automation

systems, we have replaced manual asembly with

high-precision mechanical operations, thereby reducing

erors caused by human factors at the source. This ensures

that every proces strictly adheres to design standards

and enhances the consistency of finished product quality.

Meanwhile, in material procesing, we have thoroughly

optimised key procedures such as blanking and bending by

adopting advanced CNC blanking technology and precision

bending moulds, which minimises scrap generation and

maximises material utilization. This series of technological

inovations has significantly enhanced material utilisation

for the Group while safeguarding product performance,

thereby providing robust technical suport for sustainable

development objectives.

Power Saving

The Group incorporates inovative energy-saving

features acros al equipment models to uphold its

comitment to sustainable development. This feature

enables production machines to automaticaly stop the

oil coler, chip conveyor, oil pump, and other electric

motors thre minutes after entering standby mode upon

completion of procesing. Aditionaly, if the machine

operates automaticaly without human intervention for 10

minutes, the internal lighting and NC scren display wil be

automaticaly turned of to further enhance energy-saving

capabilities.

相较于传统设计模式，本集团现

行的高精密机床标准设计方式展

现出卓越成效。该设计方式在有

效降低铸材消耗量的基础上，促

使产量实现了显著增长。于本报

告期间，产量大幅增加，而每单

位产品的铸材消耗量则显著下

降。这有力地彰显了新设计方式

在提高生产效率与控制成本两个

维度上的双重卓越成效。此举不

仅有效缓解了资源压力，更在铸

材浇注及后续加工环节显著降低

了能源消耗，契合绿色制造的全

球趋势。在工厂实际生产环节，

本集团更进一步引入智能化升级

策略。通过全面部署机械臂自动

化作业系统，我们以高精度机械

操作取代人工装配，从源头上减

少了因人为因素导致的误差，确

保每一道工序都严格遵循设计标

准，提升了成品质的一致性。

同时，在材料加工方面，我们对

下料、折弯等关键工艺进行深度

优化，采用先进的数控下料技术

与精密折弯模具，最大限度减少

边角料产生，提升材料利用率。

此系列技术革新，使本集团在保

障产品性能的前提下，材料利用

率获得显著提升，为可持续发展

目标提供了强有力的技术支撑。

节约电能

本集团在全机型设备上使用创新

节电功能，以贯彻本集团可持续

发展的理念。该功能使生产机

器于加工结束进入待机状态3分钟

后，油冷机、排屑机、油泵和其

他各电机自动停止运行。另外，

机器自动运行过程中无人操作10

分钟后，亦将会自动关闭机内照

明和NC画面显示，以进一步加强

节电功能。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

In adition to the vehicle and equipment energy

management measures mentioned in the section headed

“Exhaust Gas Emisions” under aspect A1, the Group has

also developed wel-defined management measures for

ofice apliances. These measures include, but are not

limited to:

• Switch of al electrical equipment after working

hours;

• Maximise the use of natural light to reduce reliance

on lighting equipment whenever posible;

• Al machines and computers within the factory are

set to power-saving mode: if machines are not

in use and no activity is detected on computers

within 20 minutes, al machines and monitors wil be

turned of;

• The air conditioning temperature is set to an energy-

eficient range of 24 to 26℃;

, computer equipment, servers,

and monitors are continuously upgraded to more

energy-eficient models;

• Lighting at al operational sites is being replaced

with LED lights, with priority given to the use of

controlable switches in areas such as coridors and

pasageways;

• By optimising the procesing technology of

production equipment, shortening procesing times,

and reducing electricity consumption; and

• Energy-saving upgrades were implemented for

equipment such as power equipment, transformers,

and electric motors in the foundry workshop to

reduce their energy consumption.

除了于A1层面「废气排放」一节中

提及的车辆及设备能源管理措施

外，本集团亦针对工厂生产和办

公电器制定了清晰的管理措施。

其中包括但不限于：

，减少

照明设备的使用；

• 所有厂房内的机器及电脑

均设为省电模式：倘机器

不使用及电脑于20分钟内

未检测到任何操作，则所

有机器及显示器将关闭；

的节能程度；

• 持续更新厂房机器及电脑

设备、服务器及显示器至

更加节能的模式；

• 将各营运地点的照明更换

为LED灯，走廊、通道等

场所优先使用可控制开关；

• 通过优化生产用设备的加

工艺，缩短加工时间，

减少电量的使用；及

变压器及电机等设备进行

了节能升级，以降低它们

的能源消耗。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Factory Equipment Energy-saving Case Study

During the Reporting Period, the factory achieved efective

control of equipment energy consumption by implementing

refined equipment management, optimising procesing

sequences, and advancing equipment upgrades and

modifications, resulting in significant electricity savings.

M Series Turet Machine

Electricity savings: 33.40 kWh

M机型刀塔机

节省电量33.40千瓦╱小时

G300 Grinding Machine

Electricity savings: 30.80 kWh

G300磨床

节省电量30.80千瓦╱小时

To achieve sustainable development, the Group also

periodicaly provides employes with environmental

protection education and training, as wel as promotes

practical advice on environmentaly-friendly lifestyles to

enhance employes’ awarenes of energy conservation

and carbon reduction.

工厂设备节能案例

于本报告期间，工厂透过实施精

细化设备管理，优化设备加工时

序并推进设备升级改造，实现了

设备能耗的有效管控，达成显著

的电量节约成效。

为实现可持续发展，本集团亦会

不定期为员工提供环保教育培训

及宣扬有关环保生活方式的实用

建议，提高员工的节能减碳意识。

FY2025 二零二五财年
1,058.15
407.77
650.38
33,798.12
33,798.12
34,856.27
2.67

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

An overview of the Group’s energy consumption

performance is as folows:

Types of Energy

能源种类

Unit

单位

FY2024

二零二四财年

Direct Energy Consumption

直接能源消耗

MWh

兆瓦时

978.70

– Petrol

－汽油

MWh

兆瓦时

462.27

– Diesel

－柴油

MWh

兆瓦时

516.43

Indirect Energy Consumption

间接能源消耗

MWh

兆瓦时

24,538.80

– Purchased electricity

－外购电力

MWh

兆瓦时

24,538.80

Total energy consumption

能源消耗总量

MWh

兆瓦时╱生产单位

25,517.50

Intensity

密度

MWh/production unit2.96

5 The calculation of unit conversion refers to the Energy Statistics

Manual isued by the International Energy Agency.

Water Consumption

The Group’s primary sources of water usage include

production proceses, restrom flushing, washing, and

canten operations. Given the geographical locations of the

Group’s various operating sites, water is mainly suplied

by municipal pipeline networks; therefore, there are no

isues in securing suitable water sources.

We are comited to enhancing water conservation

awarenes among al employes and customers,

encouraging the development of conscientious

water-saving habits. The Group has implemented the

folowing measures:

• Always ensure that faucets are tightly closed to

prevent driping;

• Utilise dual-flush toilets to promote water

conservation;

• Implement efective water-saving production

methods and tols;

本集团的能源消耗表现概述如下：

5 单位换算是参考国际能源署发布的《能源统计手册》。

水资源消耗

本集团的主要用水来源为生产程

序、洗手间冲洗、洗涤及食堂使

用。基于本集团各营运地点的地

理位置，其用水主要来自市政管

道网络供应的自来水，因此其在

求取适用水源并无任何问题。

我们致力提高所有员工和客户节

约用水的意识，鼓励其养成自觉

节约用水的习惯。本集团已实施

下列措施：

，以免滴

漏；

• 采用双制式冲厕以节约用

水；

• 采用有效的节水生产方法

及工具；

FY2025 二零二五财年
69,317.00
5.30

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

• Employ multiple digital printing machines to avoid

chemical wastewater polution asociated with ofset

printing proceses;

• Conduct regular inspections of drainage systems in

restroms and pantries, and promptly identify and

repair any leaks;

• Regularly inspect and promptly repair hoses and

pipes that are leaking, cracked, or otherwise

damaged; and

• Prioritise the purchase of products that efectively

conserve water.

During the Reporting Period, although the total volume of

water consumption increased significantly due to busines

expansion, the emision intensity decreased by 4%

compared to the FY2024, thanks to the Group’s efective

water-saving measures. An overview of the Group’s water

consumption performance is as folows:

Unit

单位

FY2024

二零二四财年

Total water consumption

水资源消耗总量

立方米

47,388.00

Intensity

密度

/production unit

立方米╱生产单位

5.50

Use of Packaging Materials

The Group is comited to environmental protection and

regularly comunicates with its customers to minimise

the use of packaging materials. In the product packaging

and transportation proces, the Group has inovatively

introduced customised iron racks as packaging and

transportation cariers. This customised iron rack is

ingeniously designed and structuraly robust, providing

reliable safety protection for products while efectively

replacing certain traditional packaging materials, thereby

reducing packaging material consumption at the source.

Meanwhile, the Group actively promotes the reuse of

packaging cartons and other packaging materials. By

establishing comprehensive proceses for recycling,

inspection, and reuse, the Group ensures that packaging

materials can be safely and hygienicaly reused multiple

times, significantly enhancing resource utilization eficiency.

Given the characteristics of the Group’s busines

segments, the primary packaging materials curently in use

are plastic and paper.

，避

免柯式印刷过程中的化学

污染废水；

• 定期巡查卫生间和茶水间

的排水系统，及时排查和

修复渗漏点；

• 定期检查并及时维修渗

漏、破裂及存在其他损毁

情况的软管及管道；及

• 作出购买决定时优先考虑

有效节约用水的产品。

于本报告期间，虽因业务扩张致

使水资源消耗总量大幅增加，得

益于本集团有效的节水举措，排

放密度较之二零二四财年减少

4%。本集团的水资源消耗表现概

述如下：

包装材料消耗

本集团致力于保护环境，并定期

与其客户沟通，以尽量减少包装

材料。在产品包装及运输环节，

本集团创新性地引入定制铁架作

为包装与运输载体。这种定制化

铁架设计精巧、结构稳固，既能

为产品提供可靠的安全保障，又

有效替代了部分传统包装材料，

从源头上减少了包装材料的消

耗。同时，本集团大力推行包装

纸箱及其他包装材料的重复使用

计划，通过建立完善的回收、检

测、再利用流程，确保包装材料

在安全、卫生的前提下实现多次

循环使用，大幅提高了资源利用

效率。基于本集团业务分部的特

性，目前所使用的包装材料主要

为塑料和纸类。

FY2025 二零二五财年
34.40
19.50
53.90
0.004

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

During the Reporting Period, the Group’s total packaging

material consumption intensity decreased by aproximately

30% compared to FY2024. An overview of the packaging

materials used in the Group’s finished products is as

folows:

Types of Packaging Materials

包装材料种类

Unit

单位

FY2024

二零二四财年

Plastic

塑料

tones

吨

35.44

Paper

纸类

tones

吨

15.03

Total Packaging Materials Consumption

包装材料消耗总量

tones

吨

50.47

Intensity

密度

tones/production unit

吨╱生产单位

0.006

A3. Environment and Natural Resources

The Group is dedicated to achieving best practices

in environmental management and places significant

emphasis on the impact of its busines operations on

the environment and natural resources. Apart from the

environmental impact disclosed in the aforementioned

sections, the Group’s busines does not have any other

significant negative impact on the environment. The

Group strictly adheres to environmental regulations and

international standards, and actively and apropriately

protects the natural environment. At the same time,

the Group has implemented a series of measures and

suporting policies to minimise the environmental impact

of its busines operations to the greatest extent posible.

Furthermore, the Group places great emphasis on

environmental education for al employes, enhancing their

environmental awarenes through diversified training and

promotional activities, so that they can actively practice

the Group’s environmental philosophy both at work and in

daily life.

于本报告期间，本集团的包装材

料消耗总量密度较二零二四财年

减少约30%。本集团制成品所用

的包装材料概述如下：

A3. 环境及天然资源

本集团致力于达成环境管理最佳

实践，高度关注自身业务对环境

以及天然资源所产生的影响。除

前述章节已披露之环境影响外，

本集团业务对环境并无其他重大

负面影响。本集团严格遵循与环

境相关的法规及国际准则，积极

且恰当地保护自然环境。与此同

时，本集团还推行了一系列措施

及配套政策，力求最大程度降低

业务运营对环境造成的影响。此

外，本集团亦十分注重对全体员

工的环保教育，透过多样化的培

训与宣导活动，提升员工的环保

意识，使其在工作与生活中都能

积极践行环保理念。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Environmental Risk Management

The policies and measures established by the Group

for environmental performance management have ben

outlined under aspects A1 and A2. Building on this

foundation, and to further enhance the protection of the

environment and natural resources, the Group has also

implemented the folowing more targeted measures:

• Identify the main components and objectives of

each project;

• Establish an environmental management team to

overse resource consumption;

• Ases whether resource consumption complies

with relevant standards;

, estimating

the amounts and percentages directed toward the

objectives; and

, implement

measures to control total emisions, and pursue

continuous improvement.

A4. Climate Change

In response to increasingly severe climate chalenges, the

Group fuly recognises their significant impact on busines

development. We are comited to deply integrating

the concept of carbon neutrality into product inovation

and strategic decision-making. By efectively managing

the physical risks and transformation risk asociated with

climate change, we develop tailored strategies that align

with industry characteristics and continuously enhance the

Company’s overal capacity to adres climate change.

To ensure comprehensive identification and efective

management of climate-related risks and oportunities,

we rigorously adhere to the Task Force on Climate-related

Financial Disclosures framework and the new climate

disclosure regulations of the HKEX, systematicaly

disclosing the progres of our climate initiatives.

环境风险管理

本集团针对环境表现管理所制定

的政策与措施，已于A1及A2层

面有所阐述。在此基础上，为进

一步强化对环境及天然资源的保

护，本集团还采取了以下更具针

对性的措施：

• 识别项目的主要内容及目

标；

• 设立环境管理团队以监督

资源消耗；

• 评估资源消耗是否符合相

关要求标准；

，估计导向

目标的数额及百分比；及

，采取措施

以控制排放总量并加以改

进。

A4. 气候变化

面对日益严峻的气候挑战，本集

团充分认识到其对业务发展的重

要影响。我们坚持将碳中和理念

深度融入产品创新和战略决策，

通过有效管理气候变化带来的物

理风险和转型风险，量身定制符

合行业特点的发展策略，不断提

升企业应对气候变化的综合能

力。为确保气候相关风险与机遇

得到全面识别和有效管理，我们

严格参照气候相关财务资讯披露

工作组(TCFD)框架及香港联交所

气候披露新规，系统披露我们的

气候行动进展。

Risk Category 风险类别		Risk Description 风险描述	Potential Impact 潜在影响	Impact Period 影响时期	Our Actions 我们的行动
Physical Risks 实体风险	Acute 急性	The frequent occurrence of extreme weather events (such as typhoons, heavy rainfall, floods, etc.) may affect the safety of Company buildings and equipment, extend employee commuting times, and impact employee safety and the normal operation of the business. 极端天气事件（如台风、暴雨、洪水等）的频发可能会影响公司楼体及设备安全、延长员工通勤时间、对员工的安全及企业的正常经营造成一定的影响。	Increase in operating costs. Decrease in revenue. 营运成本增加收入减少	Short-term 短期	• Purchase insurance for employees and business assets. • 为员工及业务资产购置保险。 • Develop relevant policies and response measures to minimise or avoid losses when extreme weather events impact the operating site. • 制定相关政策及应对措施，在极端天气影响营运点时减少或避免损失。 • Regularly inspect the effectiveness of drainage facilities and closely monitor government emergency notifications to prevent workplace casualties or property loss caused by extreme weather events. • 定期检查排水设施的有效性，并密切关注政府应急通知，防止极端天气引发的工作场所伤亡或财产损失。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Climate Risk Management

We have identified a total of two physical risks and four

transformation risks and have asesed their financial

impacts on the Company acros thre-time horizons:

short-term (within thre years), medium-term (thre to six

years), and long-term (over six years). During the Reporting

Period, we have further optimised our measures for

adresing climate-related risks to enhance the Company’s

resilience to extreme weather events and long-term climate

change. The table below outlines the climate-related risks

and oportunities faced by the Group, as wel as the

actions taken during the Reporting Period.

气候风险管理

我们一共识别了2项实体风险和

4项转型风险，并从短期（3年以

内）、中期(3-6年）及长期（6年以

上）三个维度考虑其对公司财务的

影响。于本报告期间，我们进一

步优化了各项气候风险的应对措

施，以提升公司对极端天气事件

及长期气候变化的韧性。下表概

述了本集团所面临的气候相关风

险及机遇，以及于本报告期间所

采取的行动。

Risk Category 风险类别		Risk Description 风险描述	Potential Impact 潜在影响	Impact Period 影响时期	Our Actions 我们的行动
	Chronic 慢性	Persistent high temperatures resulting from global warming may increase the energy consumption of the Company’s cooling equipment and elevate the risk of heatstroke for employees working outdoors. 全球变暖导致的持续高温天气可能使公司制冷设备的能耗增加，同时亦会增加户外工作员工的中暑风险。	Increase in operating costs. Decrease in revenue. 营运成本增加收入减少	Long-term 长期	• Conduct regular emergency evacuation and medical rescue training to prepare for sudden extreme weather events. • 定期进行紧急疏散及医疗救助培训，以预防突发极端天气事件。 • Identify and prioritize risks with significant impact and implement timely preventive measures. • 识别并优先考虑具有严重影响的风险，及时采取预防措施。 • Assess the potential for transforming the business model to reduce or avoid significant impacts on business operations. • 研究改变业务模式的可能性，以减少或避免业务营运的严重影响。
Transition Risks 转型风险	Policy and regulatory risks 政策及法规风险	The ongoing introduction and strengthening of climate change- related policies, both domestically and internationally, may require the Company to incur additional costs to ensure compliance. 国际内外气候变化相关政策的不断增加和提升，可能导致公司投入更多的成本用以确保合规。	Increase in compliance costs 合规成本增加	Short – to medium-term 短至中期	• Regularly monitor the development trends of laws and regulations to ensure compliant operations. • 定期监察法律法规的发展趋势，确保合规经营。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Risk Category 风险类别		Risk Description 风险描述	Potential Impact 潜在影响	Impact Period 影响时期	Our Actions 我们的行动
	Technical risks 技术风险	Transitioning to a low-carbon economy typically requires substantial investment in research and development to create new technologies and innovative solutions. The Group’s efforts in technology development and investment may not produce the anticipated results, necessitating the allocation of significant resources to R&D, with a focus on precision machine tool manufacturing or other low-carbon propulsion systems. 低碳经济转型通常需要在研发方面进行大量投资，以开发新技术和创新解决方案。本集团在技术开发及投资方面的努力可能不会产生预期的结果，从而需要为研发工作分配大量资源，专注于精密机床制造或其他低碳推进系统。	Increase in R&D costs. Increase in operating costs. 研发成本增加营运成本增加	Medium to long term 中至长期	• Driven by technological innovation, we focus on energy conservation, consumption reduction, and advancements in mechanical processes, promoting continuous technological iteration and improvements in energy efficiency. • 以技术创新为核心引擎，聚焦节能降耗与机械工艺革新领域，推动技术反复运算与能效升级。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Risk Category 风险类别		Risk Description 风险描述	Potential Impact 潜在影响	Impact Period 影响时期	Our Actions 我们的行动
	Market risk. 市场风险	Frequent market fluctuations have heightened the Group’s exposure to market risk. As customer requirements for green transformation continue to evolve, the Group’s current green machine tool products and supporting solutions face challenges in meeting clients’ needs for reduced energy consumption and upgraded environmentally- friendly processes. 市场变化频繁，集团的市场风险加剧。客户绿色转型需求多变，集团现有绿色机床产品与配套方案，难以契合客户降低能耗、升级环保工艺需求。	Increase in marketing expenses. Decrease in revenue. 营销费用增加收入减少	Short – to medium-term 短至中期	• Develop green machine tool products to meet consumer demand. • 开发绿色机床产品，满足消费者需求。 • Enhance market research and promptly adjust sales strategies, particularly in international markets. • 加强市场调研，及时调整销售策略，特别是在国际市场。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Risk Category 风险类别		Risk Description 风险描述	Potential Impact 潜在影响	Impact Period 影响时期	Our Actions 我们的行动
	Reputational risk. 声誉风险	Failure by the Group to meet environmental standards or social responsibility expectations may result in public criticism and damage to the Company’s brand image, particularly in international markets. 本集团未能达到环境标准或社会责任期望可能导致公众批评，损害公司的品牌形象，特别是在国际市场上。	Damage to brand image may result in customer attrition 品牌形象受损可能导致客户流失	Medium to long term 中至长期	• Strengthen corporate social responsibility and enhance brand image. • 加强企业社会责任，提升品牌形象。 • Establish a transparent communication mechanism to promptly address public concerns, particularly regarding environmental and social responsibility performance. • 建立透明的沟通机制，及时解决公众关注的问题，特别是在环境和社会责任方面的表现。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Oportunities

In recent years, major global economies have placed

increasing emphasis on climate change isues,

sucesively formulating and implementing a series of

response strategies and policy measures. Against this

backdrop, the sustainable and gren finance market has

flourished. The Group fuly recognises this oportunity and

actively invests in gren and energy-saving environmental

protection initiatives, advancing the practice of sustainable

finance.

机遇

近年来，全球各主要经济体对气

候变迁问题的重视程度与日俱

增，相继制定并推出了一系列应

对策略与政策措施。在这样的背

景下，可持续和绿色金融市场蓬

勃发展。本集团充分意识到这个

机遇，积极投资绿色及节能环保

等项目，推动可持续金融的实践。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

B. SOCIETY

B1. Employment

The Group regards talent as a core strategic resource

for achieving sustainable development and is comited

to a lawful and compliant aproach to human resource

management. In key areas such as compensation and

benefits systems, recruitment and hiring proceses,

promotion and dismisal mechanisms, as wel as working

hours and leave arangements, we have established

a comprehensive compliance management system.

Regarding equal employment oportunity guarantes,

diversified employment policies, and anti-discrimination

regulations, the Group consistently upholds the principles

of fairnes and impartiality. The Group strictly enforces the

folowing laws and regulations, including but not limited to:

– Labour Law of the People’s Republic of China

– Labour Contract Law of the People’s Republic of China

– Special Provisions on Labour Protection for Female

Employes

During the Reporting Period, the Group fuly complied

with al relevant laws and regulations acros the entire

labour and employment proces, with no incidents of

non-compliance or legal violations related to employment

practices.

B. 社会

B1. 雇佣

本集团将人才视为实现可持续发

展的核心战略资源，坚持依法合

规的人力资源管理念。在薪酬

福利体系、招聘录用流程、晋升

与解聘机制、工作时间与休假安

排等重点领域，我们建立了完善

的合规管理体系；在平等就业机

会保障、多元化用工政策及反歧

视规定等方面，本集团始终秉持

公平公正原则。本集团严格执行

以下法律法规，包括不限于：

《中华人民共和国劳动法》

《中华人民共和国劳动合同法》

《女职工劳动保护特别规定》

于本报告期间，本集团在劳动用

工全流程中均符合相关法律法规

要求，未发生任何与雇佣相关的

违法违规情况。

As at 31 March 2025 截至二零二五年三月三十一日
2,397
1,683
714
2,397
0
981
1,001
380
31
4
2,386
11

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

截至二零二五年三月三十一日，

本集团报告范围内共有2,397名

雇员（截至二零二四年三月三十一

日本集团雇员：2,131名）。按性

别、类型、年龄组别和地区划分

的雇员人数概述如下：

As at 31 March 2025, the Group had a total of 2,397

employes within the reporting scope (as at 31 March

2024: 2,131 employes). An overview of the number of

employes by gender, employment type, age group, and

region is as folows:

Indicator Name

指标名称

As at 31

March 2024

截至

二零二四年

三月三十一日

Total Number of Employes (persons)

雇员总数（人）

2,131

Total Number of Employes by Gender

(persons)

按性别划分的员工总数（人）

Male

男性

1,459

Female

女性

Total Number of Employes by Employment

Type (persons)

按雇佣类型的员工总数（人）

Ful-time

全职

2,131

Part-time

兼职

Total Number of Employes by Age Group

(persons)

按年龄划分的员工总数（人）

20-30 years

20-30岁

31-40 years

31-40岁

41-50 years

41-50岁

51-60 years

51-60岁

Above 60 years

60岁以上

Total Number of Employes by Region

(persons)

按地区划分的员工总数（人）

China (including Hong Kong,

Macau, and Taiwan)

中国（包括港澳台）

2,120

Overseas

境外

6 Due to changes in statistical criteria, the disclosed data for FY2024

has ben updated.

6 因统计口径改变，更新2024财年

披露数据。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Human Resource Management Mechanism

The Group places a high priority on talent management

and has established a comprehensive system

encompasing talent recruitment and asesment, training

and development, and mobility management. Through

a scientific and standardised selection mechanism,

multi-dimensional carer development pathways, and

standardised mobility management, we continuously

optimise human resource alocation to provide robust talent

suport for the Group’s development.

With regard to talent recruitment, the Group adheres to the

philosophy of strengthening the enterprise through talent

and has enhanced its recruitment mechanisms. Campus

recruitment serves as the primary chanel, suplemented

by social recruitment to adres vacancies in general

positions. During the open recruitment proces, the Group

strictly adheres to the principle of equal employment,

resolutely rejecting discriminatory factors such as

gender, religion, ethnicity, and age, and fosters a fair and

competitive environment for al job aplicants. Furthermore,

by comprehensively evaluating aplicants’ profesional

experience, technical skils, competency levels, personality

traits, and carer aspirations, we conduct rigorous

screning and asesment to ensure that new hires are

highly aligned with the Group’s development strategy and

busines plans, thereby injecting high-calibre talent to drive

the Group’s growth.

人力管理机制

本集团高度重视人才管理，建立

了覆盖人才招募与考评、培养与

发展、流动管理的全流程制度体

系，通过科学规范的选拔机制、

立体化的成长通道和标准化的流

动管理，持续优化人才资源配

置，为集团发展提供强有力的人

才支撑。

在人才招聘方面，本集团贯彻人

才强企理念，完善招聘机制。以

校园招聘为主，结合社会招聘补

充普通岗位缺口。在公开招聘过

程中，本集团严格遵循平等就业

原则，坚决摒弃性别、宗教、种

族、年龄等歧视性因素，为所有

求职者营造公平竞争的环境。同

时，通过综合考量申请者的工作

经验、专业技能、能力水平、性

格特质以及职业目标等维度，进

行严格筛选与评估，确保录用人

员与本集团发展战略及经营规划

高度契合，为本集团发展注入优

质人才动力。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Case – University-Enterprise (Schol-Enterprise)

Coperation

To met the development neds of the Group and the

society’s demand for talent cultivation, we depen the

schol-enterprise colaborative education mechanism

and create a youth talent cultivation and employe care

system covering the entire carer development cycle.

Every year, we provide targeted internship and practical

positions, carying out systematic practical training

for fresh graduates, including standardised training in

corporate culture, rules and regulations, safety education,

etc. The Human Resources Department and the Technical

Department colaborate to formulate personalised

internship plans, asign exclusive mentors, and establish a

dynamic tracking mechanism, regularly holding discusions

to solve interns’ problems. At the same time, the Group

holds grand induction ceremonies, where management

and outstanding employes share experiences to convey

profesional beliefs. The labour union plans various cultural

and sports activities throughout the year, such as bal

games, outward bound training, outdor team-building,

etc. These series of measures have achieved remarkable

results: interns’ profesional and comprehensive qualities

have ben improved, they have sucesfuly become

ful-time employes, injecting vitality into the Company;

employes’ sense of belonging and corporate cohesion

have ben enhanced, forming a god cultural atmosphere.

案例－校园企业合作

为满足本集团发展及社会对人才

培育需求，深化校企协同育人机

制，打造覆盖职业发展全周期的

青年人才培育与员工关怀体系。

我们每年定向提供见习实践岗，

为应届毕业生开展系统实践培

养，涵盖岗前企业文化、规章制

度、安全教育等标准化培训；人

事部与技术部协同制定个性化见

习方案、配备专属导师，并建立

动态跟踪机制，定期座谈解决见

习生问题。同时，本集团举办隆

重入职仪式，管理层与优秀员工

分享经验传递职业信念；工会全

年策划球类竞技、拓展训练、户

外团建等多样文体活动。此系列

举措成效显著，见习生专业与综

合素质提升，顺利转正为公司注

入活力，员工归属感与企业凝聚

力增强，形成良好文化氛围。

“Campus Recruitment Onboarding Ceremony”

「校园招聘入社仪式」

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

The Group has established a comprehensive talent

asesment and management system. In acordance

with the Qualification Asesment and Evaluation

Management Regulations, al employes undergo anual

evaluations. Asesment results are directly linked to

salary adjustments, thereby strengthening performance

management, promoting the cordinated development

of the Company and its employes, and ensuring that

employe conduct aligns with the Group’s strategic

objectives. In adition, the Group implements a personel

transfer management system. Based on employes’ skils

and expertise, positions are reasonably adjusted to fuly

realize their potential and achieve optimal alocation of

human resources.

本集团建立完善的人才考核与管

理制度体系，依据《资格考核评定

管理规定》，每年对全体员工进行

考核，实行考核结果与薪资调整

联动机制，强化绩效管理，推动

企业与员工协同发展，确保员工

行为契合集团战略目标。同时，

落实人事异动管理制度，依据员

工技能特长，合理调动岗位，充

分发掘潜能，实现人力资源优化

配置。

“Schol-Enterprise Training Activities”

「校企培养活动」

As at 31 March 2025 截至二零二五年三月三十一日
10.97%
12.24%
7.98%
17.02%
6.99%
4.21%
32.26%
0
10.97%
0

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

During the Reporting Period, an overview of the Group’s

total employe turnover rate, categorised by gender, age

group, and region, is as folows:

Indicator Name

指标名称

As at 31

March 2024

截至

二零二四年

三月三十一日

Total employe turnover rate (%)

总员工流失率

(%)

13.98%

Employe turnover rate by gender

(%)

按性别划分的员工流失比率

(%)

Male

男性

16.72%

Female

女性

8.04%

Employe turnover rate by age group

(%)

按年龄划分的员工流失比率

(%)

20-30 years old

20-30岁

20.22%

31-40 years old

31-40岁

11.04%

41-50 years old

41-50岁

6.41%

51-60 years old

51-60岁

23.08%

60 years old and above

60岁以上

25%

Employe turnover rate by region

(%)

按地区划分的员工流失比率

(%)

China (including Hong Kong,

Macau, and Taiwan)

中国（包括港澳台）

13.98%

Overseas

境外

7 Total employe turnover rate = total number of employes who left

during the fiscal year ÷ total number of employes at the end of

the fiscal year × 100%.

8 Turnover rate for this employe category = (Total number of

employes who left this category during the year) ÷ (Number of

employes in this category at the end of the year) × 100%.

于本报告期间，本集团的总雇员

流失率，按性别、年龄组别及类

型划分的概述如下：

7 总雇员流失率=该财年的总离职雇

员人数÷ 该财年末的总雇员人数

×100%。

8 该类别雇员流失率=（本年度该类

别的离职雇员总人数）÷（本年度该

类别的期末雇员人数）×100%。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Equality and Diversity Principles

The Group upholds the core employment philosophy

of “Open Recruitment and Equal Oportunity”, strictly

adhering to the principles of fairnes and impartiality, and

firmly prohibits discrimination based on race, gender,

age, family background, ethnicity, religion, physical ability,

nationality, or other characteristics. Through standardised

and regulated recruitment and promotion systems, we

ensure that every employe enjoys equal oportunities at

every stage of their carer development. We are comited

to building a diverse and inclusive talent framework,

actively atracting outstanding individuals from various

backgrounds, and infusing the Company’s development

with inovative vitality and multicultural wisdom.

Compensation and Incentives

The Group adheres to four fundamental principles

“Competitivenes, Motivation, Equity, and Cost-efectivenes”

to establish a scientific and comprehensive compensation

management system. This system is based on job value

asesment and holisticaly considers individual capabilities

and performance, comprising a structured compensation

package that includes base salary, performance bonuses,

special alowances, and various incentive awards. We

have established an anual dynamic salary adjustment

mechanism, ensuring at least one salary review each

year. Salary adjustments are evaluated based on both

the Company’s performance and individual achievements

and are suported by a promotion review system to

ensure that compensation and carer development

progres in tandem. Aditionaly, through standardised

systems such as the Salary Regulations, Employe

Domestic and Overseas Travel Expense Management

Regulations, and Overseas Alowance Regulations, we

clearly define standards for various subsidies – including

transportation, housing, travel, meals, and acomodation

– to comprehensively safeguard employes’ legal rights

and interests. We continuously optimise a compensation

and reward system that is both market-competitive and

internaly equitable, dedicated to achieving mutual growth

and sustainable development for the Company and its

employes.

平等多元原则

本集团秉持「公开招聘、平等竞

争」的核心用人理念，严格遵循公

平公正原则，坚决杜绝因种族、

性别、年龄、家庭背景、民族传

统、宗教、身体素质和国籍等因

素的歧视行为。通过标准化、规

范化的招聘与晋升制度，我们确

保每一位员工在职业发展的各阶

段都能享有平等机会，致力于打

造多元化、包容性的人才体系，

积极吸纳不同背景的优秀人才，

为企业发展注入创新活力与多元

智慧。

薪酬激励

本集团秉持「竞争性、激励性、公

平性、经济性」四大原则，构建

了科学完善的薪酬管理体系，该

体系以岗位价值评估为基础，综

合考量个人能力与业绩表现，包

含基本薪酬、绩效奖金、专项补

贴及各类专项奖金等结构化薪酬

组合。我们建立了年度动态调薪

机制，每年至少实施一次薪酬回

顾，结合公司业绩与个人绩效进

行调薪评估，并配套晋升评审制

度，确保薪酬与职业发展同步提

升。同时，通过《工资规定》、《员

工境内外出差费用管理规定》及

《驻外补助规定》等标准化制度体

系，明确规范交通、住房、出行

及食宿等各类补贴标准，全面保

障员工合法权益。我们持续优化

具有市场竞争力和内部公平性的

薪酬回报体系，致力于实现企业

与员工的共同成长和可持续发展。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Rights and Interests Protection

The Group strictly complies with relevant laws and

regulations and has established a comprehensive system

to protect employe rights and interests. With regard to

labour contracts, we lawfuly sign and fulfil employment

contracts with our employes, efectively safeguarding

their legitimate rights and interests. In terms of social

security, in adition to making statutory contributions to

the “Five Social Insurances and One Housing Fund”—

which include pension insurance, medical insurance,

unemployment insurance, work-related injury insurance,

maternity insurance, and the housing provident fund – we

also provide al employes with aditional group acident

insurance and purchase suplementary medical insurance

for eligible personel, thereby establishing a multi-level

protection system for our employes. With regard to

leave policies, the Company strictly adheres to national

regulations and ofers a comprehensive and diversified

leave system, including paid anual leave, sick leave,

mariage leave, child’s mariage leave, maternity leave,

nursing leave, childcare leave, only-child family care leave,

and bereavement leave. Particular atention is given to the

specific neds of female employes during pregnancy,

maternity, and breastfeding periods, with coresponding

benefits and protections provided in strict acordance with

relevant laws and regulations.

The Group has established a comprehensive employe

asistance framework, including the formation of a

corporate Employe Asistance and Mental Health

Counseling Team that conducts regular psychological

counseling to suport employes’ mental health and

aleviate workplace stres. Aditionaly, when employes

face dificulties, the Group colaborates with the labour

union to promptly visit those who are hospitalised due to

ilnes and provide financial asistance. For employes

experiencing family hardships or ilnes, dedicated suport

measures are implemented to ofer comprehensive

asistance and demonstrate the Company’s comitment

to employe wel-being.

权益保障

本集团严格遵循相关法律法规，

构建了完善的员工权益保障体

系。在劳动合同方面，依法与员

工签订并履行劳动合同，切实保

障劳动者合法权益。社会保障层

面，除依法缴纳包含养老保险、

医疗保险、失业保险、工伤保

险、生育保险及住房公积金的「五

险一金」外，还额外为全体员工配

置团体意外伤害保险，并为符合

条件的人员购买补充医疗保险，

形成员工的多层次保障。在休假

制度方面，严格执行国家规定，

提供包括带薪年休假、病假、婚

假、子女婚假、产假、护理假、

育儿假、独生子女陪护假及恩恤

假等在内的多元化假期体系。特

别针对女性员工在妊娠期、产期

及哺乳期的特殊需求，严格依照

相关法律法规提供相应待遇保障。

本集团构建了完善的员工帮扶体

系，成立企业员工帮助及心理健

康疏导小组，通过不定期开展心

理疏导关注员工心理健康，缓解

职场压力；同时，在员工遭遇困

难时，联动工会及时看望生病住

院员工并给予经济补助，针对家

庭困难或患病员工制定专项帮扶

举措，全方位为员工提供支持，

传递企业人文关怀。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

The Group ofers a complimentary cafeteria for employes.

To enhance cafeteria management, the Company has

established a satisfaction comite comprising members

from various departments. This comite holds periodic

metings to systematicaly colect and consolidate

employes’ fedback on meal preferences. Aditionaly, we

led team members in conducting on-site inspections of two

catering companies, with a particular focus on hygiene,

dish freshnes, and shelf life. The menu is also updated

wekly to ensure that no dishes are repeated within the

same wek. Regarding ethnic minority employes, although

the majority of the Company’s staf are Han Chinese and

no special requests related to ethnic dietary restrictions

have ben received – nor have such situations arisen

during interviews – the Company remains atentive to this

mater. With respect to environmental improvements, the

cafeteria undertakes anual environmental optimisation

initiatives, implements thorough wekly and monthly

cleaning and disinfection, and conducts targeted pest

control measures during periods of hot weather.

本集团为员工提供免费食堂，

在食堂管理改进方面，企业成

立了由各部门人员组成的满意小

组，透过不定期召开会议，系统

收集员工对菜品口味的需求并进

行汇总。同时，带领小组成员实

地考察两家配餐公司，重点检查

卫生、菜品新鲜度及保质期等情

况。此外，每周更新菜单，保证

菜品一周内不重样。对于少数民

族员工，虽然企业员工以汉族为

主，且目前未收到员工因民族

饮食禁忌提出的特殊需求，面试

过程中也未出现此类情况，但仍

保持关注。在环境改善上，食堂

每年开展环境优化工作，落实每

周、每月大扫除与消毒，炎热天

气针对性去消杀四害等问题。

“Employe Asistance and Condolences”

「员工帮扶与慰问」

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Comunication and Activities

Employes are the core driving force behind the

development of the enterprise. The Group recognises that

efective comunication is a fundamental cornerstone for

building harmonious labour relations and enhancing team

cohesion. The Group places great emphasis on fostering

strong employe relations. By establishing multi-level and

multi-chanel comunication mechanisms – including

employe forums, cros-departmental colaboration

metings, and fedback platforms – the Group not only

promotes two-way comunication betwen management

and staf, but also cultivates an open and inclusive

corporate culture, thereby enhancing overal work

eficiency.

We have established a multi-dimensional employe

care mechanism. On one hand, we dynamicaly monitor

employe status through fedback from various

departments and provide targeted suport. On the other

hand, we have implemented a tiered comunication

mechanism, conducting periodic interviews with newly

hired university graduates to discus their work and life,

as wel as regular interviews with mid-to-long tenure

employes. This comprehensive aproach enables us to

listen to employe concerns and continuously enhance

their sense of belonging.

The Group has established a labour union comite,

comprising thre specialised subcomites: the Economic

Review Comite, the Labour Mediation Comite,

and the Women’s Comite. With nearly 2,000 curent

members, the union adheres to the philosophy of “Building

Management Confidence While Ensuring Employe

Satisfaction”. In line with its mision to serve employes,

the union actively organises a range of cultural and sports

activities, distributes holiday benefits, and provides various

skils development trainings, thereby enriching employes’

leisure time and fostering a harmonious corporate culture.

沟通与活动

员工是企业发展的核心驱动力。

本集团深知，有效的沟通是构建

和谐劳动关系、提升团队凝聚力

的重要基石。本集团高度重视员

工关系建设，通过建立多层次、

多渠道的沟通机制，包括开展的

员工座谈会、跨部门协作会议及

意见回馈平台等，不仅能促进集

团与员工之间的双向交流，更有

助于营造开放包容的企业文化氛

围，进而提升整体工作效率。

我们构建多维度的员工关怀机

制：一方面，借助各部门反馈信

息动态监测员工状态，给予针对

性关怀；另一方面，建立分层沟

通机制，每年不定期与新入职的

大学生进行工作生活情况面谈，

并对入职中长期的员工定期开展

面谈，全方位倾听员工诉求，持

续提升员工归属感。

本集团已成立工会委员会，下设

经审委、劳调委和女职委三大专

业委员会，现有会员近2,000人，

秉承「让公司放心，让员工满意」

的理念，为体现工会服务员工的

宗旨，通过积极组织开展各类文

体活动、发放节日福利及各项技

能提升培训等，丰富员工的业余

生活，促进公司和谐的文化氛围。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

“Employe Team-building Activities”

「员工更新团建活动」

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

B2. Health and Safety

We consistently regard employe health and safety as

our foremost responsibility. We place great emphasis

on fostering a safe working environment and are fuly

comited to protecting employes from ocupational

hazards. In our operations management, we strictly adhere

to a series of important laws and regulations, including but

not limited to:

– Work Safety Law of the People’s Republic of China

– Law of the People’s Republic of China on Prevention and

Control of Ocupational Diseases

– Fire Protection Law of the People’s Republic of China

By continuously strengthening internal management

measures, the Company comprehensively safeguards the

health and safety of al employes.

During the Reporting Period, the Group did not experience

any major violations of laws and regulations related to

ocupational health and safety.

Over the past thre years (including the Reporting

Period), there have ben no work-related fatalities and no

asociated compensation expenses. During the Reporting

Period, there has ben an improving trend in work-related

injuries, with 33 cases and a total of 741.5 lost workdays

(FY2024: 818 working days).

B2. 健康与安全

我们始终将员工健康与安全作为

首要责任，高度重视营造安全的

工作环境，全力保障员工免受职

业性危害。在运营管理中，严格

遵循一系列重要的法律法规，包

括不限于：

《中华人民共和国安全生产法》

《中华人民共和国职业病防治法》

《中华人民共和国消防法》

通过不断强化内部管理举措，全

方位守护全体员工的健康与安全。

于报告期间，本集团未发生任何

违反职业健康安全相关法律法规

的重大案件。

在过去三年（包括报告年度），

未发生与工作相关的亡故事件，

且未产生任何相关赔偿支出。本

报告期间，工伤情况呈现改善趋

势，工伤人数33人，工伤损失天

数为741.5个工作日（二零二四财

年：818个工作日）。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Ocupational Health and Safety Management

The Group strictly complies with relevant laws and

regulations and has established a comprehensive

ocupational health and safety management system.

This includes foundational policies such as the Code of

Conduct for Employes and Employment Regulations

(with dedicated chapters on “Work Rules” and “Safety

and Health”), which clearly define employe safety

standards. Specialised management systems, including the

Ocupational Health Management System and the Special

Equipment and Personel Safety Management System,

as wel as specific operating procedures such as the

Grinding Machine Safety Operating Procedures and other

suporting documents, are implemented to systematicaly

provide employes with safety knowledge education

and training. Through this system, we regularly conduct

institutional reviews and updates to ensure the efective

implementation of al safety measures, comprehensively

safeguarding employes’ ocupational health and

safety, and laying a solid foundation for the Company’s

sustainable development.

We consistently prioritise employe health and safety as

the foremost objective in our corporate development. By

establishing a comprehensive organisational management

system and robust institutional safeguards, we foster a

safe, healthy, and comfortable working environment for our

employes. In terms of organisational management, the

Group has established a Safety Production Comite to

comprehensively overse and cordinate al safety-related

operations. The Safety Comite rigorously enforces

relevant laws and regulations, as wel as the policy of

“Safety First, Prevention Focused, and Comprehensive

Management”. It promptly reports significant safety

production isues and recomendations for adresing

potential acident hazards to management and supervises

the implementation of safety production decisions and

regulatory standards acros al departments to ensure

a safe and controlable working environment. Through

exemplary safety production management, the Group

has ben awarded the Level 3 Safety Production

Standardization Enterprise (Machinery) certification. During

the Reporting Period, the Group recorded zero major

safety incidents.

健康安全管理

本集团严格遵循相关法律法规，

建立了完善的职业健康安全管理

体系，包括基础性制度《员工行

为准则》和《就业规则》（含「工作

规则」「安全及健康」专章），明确

雇员安全规范要求；专项管理制

度《职业健康管理制度》《特种设

备及人员安全管理制度》，以及具

体操作规程如《打磨机安全操作规

程》等配套文件，系统开展雇员安

全知识教育培训。我们通过该体

系，定期开展制度评审和更新，

确保各项安全措施落实到位，全

方位保障雇员职业健康安全，为

企业可持续发展奠定坚实基础。

我们始终将员工健康与安全作为

企业发展的首要任务，通过构建

完善的组织管理体系和制度保障

机制，为员工营造安全、健康、

舒适的工作环境。在组织管理方

面，本集团设立安全生产委员会

（安委会），全面统筹安全生产工

作。安委会严格贯彻相关法律法

规及「安全第一、预防为主、综合

管理」方针，及时向管理层反馈重

要安全生产问题与事故隐患处理

意见，并监督各部门安全生产决

策、法规标准执行情况，确保工

作环境安全可控。凭借卓越的安

全生产管理，本集团荣获安全生

产标准化三级企业（机械）认证。

于本报告期间，本集团未发生任

何重大安全事故。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

In terms of specific implementation, we have established

a “Prevention-Alert-Response” fire safety management

system, which includes regular drils, an emergency

replenishment mechanism, and periodic inventory

of firefighting equipment. Secondly, comprehensive

ocupational health management is implemented, including

anual health examinations for al employes and folow-up

asesments when necesary. Personalised management

plans are provided for employes with special health

conditions, with flexible measures such as suspension

from work, medical leave, or job reasignment. The Group

engages an authoritative third-party inspector to conduct

a comprehensive asesment of ocupational disease

hazards in the workplace. Through scientific evaluation

and systematic investigation, potential health and safety

risks wil be identified, and efective measures wil be

implemented to prevent and control them, thereby ensuring

employes’ ocupational health and a safe production

environment.

To comprehensively ensure workplace safety and

regulatory compliance, the Company strictly adheres to

national safety production laws and regulations and has

established a systematic safety management framework.

Firstly, we implement comprehensive safety training for

al employes, providing profesional instruction covering

acident prevention, emergency response, and the

operation of equipment and facilities. Secondly, we have

established a structured and actionable safety inspection

system, conducting regular inspections – such as daily

patrols, wekly checks, and monthly supervision – of

high-risk areas, special equipment, and fire protection

facilities. At the same time, emergency response plans are

formulated, regular drils are conducted, and an emergency

duty system is established. Through the integrated and

continuous optimisation of these measures, the efective

operation of the safety production management system is

ensured, thereby safeguarding employes’ ocupational

health and personal safety.

在具体实施方面，一是我们建

立「预防－预警－应急」消防安

全管理体系，包括定期演练和应

急补货机制，并定期统计消防器

材数量；二是实施职业健康全程

管理，包括年度全员健康检查、

必要时的复查。并对特殊健康状

况雇员提供个性化管理方案，如

灵活采取停止工作、停工治疗或

岗位调整等措施。本集团安排专

门人员对工作场所进行全面职业

病危害因素检测，通过科学评估

与系统排查，识别潜在健康及安

全风险，并采取有效措施予以防

控，切实保障雇员职业健康与安

全生产环境。

为全面保障工作场所安全合规，

本公司严格依照国家安全生产法

规要求，建立了系统化的安全管

理机制：首先实施全员安全培

训，开展涵盖事故预防、应急处

置及设备设施操作等内容的专业

培训；其次建立有序可执行的安

全检查制度，对高风险区域、特

种设备及消防设施实施定期安全

检查（如日常巡查、周度检查和

月度督查）；同时制定应急响应预

案，定期组织演练并建立应急值

班制度。通过以上措施的有机结

合与持续优化，确保安全生产管

理体系有效运行，切实保障员工

职业健康与生命安全。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Health and Safety Training

The Group has established a systematic and multi-level

ocupational health and safety training system, with a

focus on implementing thre major specialised programs:

• Safety induction training is provided for new

employes to promote safety awarenes, reduce

the incidence of workplace injuries, and ensure

that employes may comence work only after

completing the required training;

• We have established continuous improvement plans

for employes, including monthly safety metings

within the production department. Through training

in safety knowledge and operational procedures, we

aim to enhance employes’ safety awarenes and

protective capabilities; and

• We regularly organize practical drils.

To ensure the efectivenes of our training, we have

implemented an optimisation mechanism that dynamicaly

adjusts training plans based on theoretical examinations,

practical asesments, and evaluations of implementation

outcomes. This system integrates both theoretical and

practical aproaches to ensure that employes at al levels

poses the necesary safety knowledge and emergency

response capabilities, thereby providing comprehensive

asurance for the Group’s safe production.

健康安全培训

本集团构建了系统化、多层次的

职业健康安全培训体系，重点实

施三大专项计划：

• 针对新员工开展入职安全

教育培训，普及安全常

识，降低工伤发生率，并

确保完成培训后方能上岗；

• 为在职员工制定持续提升

计划，包括每月生产部门

的安全会议，通过安全知

识与操作规程的培训，强

化员工的安全意识和防护

能力；及

为确保培训效果，我们建立了优

化机制，通过理论考试、实操考

核以及实施结果评估，动态调整

培训计划。该体系以理论与实践

相结合的方式，确保各层级员工

具备必要的安全知识和应急能

力，为集团的安全生产提供全面

保障。

Fire Dril

「消防演练」

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

B3. Training and Development

The Group places a high priority on the profesional

and personal growth of its employes. By providing

esential training and skils development, employes are

able to establish a stronger foundation for their carer

advancement. To facilitate employe development,

the Group has established a comprehensive carer

development system and has planed targeted training

programes.

Employe Training

We provide a range of tailored training courses for

employes at various levels and positions to adres

busines neds and suport carer aspirations. The

training content encompases several core areas:

• Onboarding preparation courses are conducted for

new employes to facilitate their rapid integration

into the workplace environment;

• Employe safety awarenes is strengthened through

comprehensive safety education and training;

• Profesional knowledge and skils courses are

provided to enhance employes’ practical busines

capabilities;

• Corporate management knowledge and skils

courses are ofered to broaden managers’ strategic

perspectives; and

• Legal and regulatory learning activities are organised

to reinforce compliance awarenes among al

employes.

B3. 培训与发展

本集团优先考虑员工的专业和个

人成长。通过提供必要的培训和

技能发展，员工可以为职业发展

奠定更坚实的基础。为促进员工

的发展，本集团建立全面的职业

发展体系并规划培训计划。

雇员培训

我们为不同级别和职位的员工提

供各种定制的培训课程，以满足

业务需求和职业抱负。培训内容

覆盖多个核心维度：

• 针对新进员工开展入职准

备课程，帮助其快速融入

职场环境；

• 通过安全教育培训强化员

工安全防范意识；

提升员工业务实操水平；

• 开设企业管理知识和技能

课程，拓宽管理者战略视

野；及

增强全员合规意识。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

During the Reporting Period, we provided al employes

with a total of aproximately 93,987.00 hours of

profesional training, with an average of about 40.00

training hours per employe (FY2024: a total of

aproximately 85,240.00 hours provided to al employes,

with an average of about 40.00 training hours per

employe).

The overview of the percentage of employes participating

in training

and the average training hours per employe

sumarised by gender and employe category, is as

folows:

9 Percentage of trained employes in this category = (Number of

trained employes in this category ÷ Total number of trained

employes at the end of the fiscal year) × 100%; Training hours for

employes in this category = (Total training hours for employes in

this category ÷ Number of employes in this category at the end of

the fiscal year)

10 Average training hours per employe = (Total training hours for the

year ÷ Total number of employes at the end of the fiscal year) ×

100%

于本报告期间，我们为全体员

工累计提供约93,987.00小时的

专业培训，每位雇员受训的平均

时数约为40.00小时（二零二四

财年：为所有雇员提供合共约为

85,240.00小时，平均受训时数约

为40.00小时）。

本集团参与培训的雇员百分比

及

平均受训时数

，按性别和雇员类

型划分的概述如下：

9 该类别的受训雇员百分比=该类别

雇员受训人数÷ 该财年末的雇员受

训总人数×100% ; 该类别雇员受训

时数=该类别雇员的总受训时数÷

该财年末的该类别雇员人数

10 每位雇员受训的平均时数=本年度

的受训总时数÷ 该财年末总雇员人

数×100%

Employe Training

「员工培训」

As at 31 March 2025 截至二零二五年三月三十一日
Percentage of employees trained 受训雇员百分比	Average training hours 平均受训时数
70.21%	40
29.79%	40
0.46%	35
18.65%	40
80.89%	39

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Indicator Name

指标名称

As at 31 March 2024

截至二零二四年三月三十一日

Percentage

of employes

trained

受训雇员百分比

Average

training hours

平均受训时数

By gender

按性别划分

Male

男性

68.47%40

Female

女性

31.53%40

By employe category

按雇员类型划分

Director

董事

0.52%40

Manager

经理

20.41%40

General

employe

普通员工

79.07%40

Employe development

To inspire employe engagement and enhance both

theoretical knowledge and practical skils, the Group

periodicaly organises profesional skils competitions.

These competitions are closely aligned with busines

operations and consist of multiple rounds. Employes

engage in mutual learning and exchange during both

preparation and participation. To motivate employes, the

competition establishes awards and provide bonuses to

those with outstanding performance, seting exemplary

models, fostering the growth of al staf, and contributing

to the Group’s development.

雇员发展

为激发员工积极性、提升理论与

实操水准，本集团不定期举办技

能比武大赛。大赛项目贴合业

务，设多轮赛程。员工在备赛、

参赛中相互学习交流。为激励员

工，大赛设置奖项，对成绩优异

者给予奖金奖励，树立榜样，促

进全员成长，为本集团发展蓄能。

Profesional Skils Competition

技能大赛

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

During the Reporting Period, in adition to organising the

skils competition, the Group also held two improvement

proposal recognition conferences – one in each half of the

year – colecting tens of thousands of employe proposals.

Outstanding proposals were honoured with the Diamond

Award, Gold Award, Silver Award, Bronze Award, and the

Most Improvement Proposals Award. These proposals

have played a significant role in enhancing machining

eficiency, optimising machine quality, and improving

management systems. The sucesful organisation of the

proposal conference has established an important platform

for employes to contribute sugestions and insights.

Employes actively participate, ofering their wisdom and

strength to the development of the Group.

Case – Eficiency Enhancement and Cost Reduction

Improvement Proposal

Starting from January 2025, based on the sucesful

implementation of outstanding improvement proposals, the

S205A model has undergone a technological upgrade. The

original procesing method, which employed a pin-type

brake positioning shaft in conjunction with a power

head for miling, faced isues such as limited excitation

torque. This inovation has groundbreakingly introduced

advanced positioning technology, leading to an increase in

the model’s excitation torque while efectively enhancing

the equipment’s operational stability and adaptability to

complex working conditions. Aditionaly, the new proces

has streamlined the cumbersome asembly procedures

and suporting components previously required for the

pin-type structure. By optimizing the transmision chain

design, it has sucesfuly achieved a significant reduction

in the production cost of a single unit of equipment. This

technological iteration not only substantialy improves the

core performance of the product but also achieves a dual

breakthrough in both proces optimization, cost reduction,

and eficiency enhancement.

于本报告期间，本集团除举办技

能比武大赛外，还分上下半年组

织了两场改善提案表彰大会，共

征集到雇员提案上万件，并对

表现突出的提案授予钻石奖、金

奖、银奖、铜奖及最多改善提案

奖等荣誉；这些提案在提升机器

加工效率、优化机器品质、完善

管理体系等方面发挥了重要作

用，通过提案大会的成功举办，

已成为雇员建言献策的重要平

台，广大雇员积极参与，为集团

发展贡献了智慧和力量。

案例－增效降本改善提案

自2025年1月起，基于优秀改善

提案的落地实施，S205A机型

迎来工艺升级。原采用的插销式

样刹车定位轴配合动力头铣削加

工方式，存在励磁扭矩受限等问

题。此次革新突破性地引入先进

的定位技术，使该机型的励磁扭

矩提升，还有效增强了设备运行

稳定性与复杂工况适应性。此

外，新工艺精简了原先插销式结

构所需的繁琐装配工序及配套零

部件，通过对传动链进行优化设

计，成功实现单台设备生产成本

的显著降低。此次技术迭代，不

仅大幅提升了产品的核心性能，

更在工艺优化方面取得了降本增

效的双重突破。

“Production Proces Improvement”

「生产工艺改善」

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

In the production of mandrel-presed tubes, the original

proces involved using bar stock which was machined

into holow tube materials through dep-hole driling,

folowed by subsequent procesing steps. However, the

dep-hole driling proces was complex, with isues such

as a long procesing cycle and significant material waste.

After switching to precision tube materials provided by a

new suplier, these tubes met high standards in terms

of dimensional acuracy and surface quality, directly

satisfying the requirements for subsequent procesing

and eliminating the ned for the time-consuming and

labour-intensive dep-hole driling proces. Through

actual calculations, it was found that after adopting the

new solution, the average procesing time per tube

was reduced by several minutes, significantly improving

production eficiency.

在押管生产中，原本采用棒料通

过深孔钻加工成空心管材后再进

行后续处理。然而，深孔钻工序

复杂，存在加工周期长、材料损

耗大等问题。改用新供应商提供

的精密管材后，其在尺寸精度和

表面质量方面均达到较高标准，

能够直接满足后续加工要求，无

需再进行耗时耗力的深孔钻加

工。经实际测算，采用新方案

后，每根管材的平均加工时间缩

短了数分钟，显著提升了生产效

率。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

To establish a systematic talent pipeline, the Group has

formulated the Reserve Management Cadre Training

System, which aims to identify and cultivate young key

personel with development potential, thereby building a

talent pol for the Company’s management positions. The

Group conducts an anual selection proces, folowed by

the initiation of a two-year systematic training programes.

The selection proces comprehensively considers individual

aspirations, departmental evaluations, and the results

of human resources interviews. The training programe

utilises a variety of methods, including extracuricular

training, mentoring, bok sharing, topic seminars, on-site

internships, and diverse forms of exchange, to help

participants establish sound values, enhance management

capabilities, strengthen profesional foundations,

and acquire practical production skils. Participants

who complete al training requirements and pas the

asesments wil be awarded a certificate of completion.

Graduates wil be given priority for placement in various

management positions, with apointments determined

based on their training performance.

本集团为建立科学的人才梯队，

特制定《后备管理干部培养制

度》，旨在选拔和培养具有发展潜

力的年轻骨干，为公司管理岗位

储备人才。本集团每年开展选拔

工作，随后启动为期两年的系统

化培养。选拔过程综合考量个人

意愿、部门评价及人力资源面试

结果。培养计划通过业余培训、

导师指导、读书分享、课题研

讨、现场实习及多形式交流等多

种形式，帮助学员树立正确价值

观、提升管理能力、夯实专业基

础并掌握生产实践技能，完成全

部培训且考核合格者将获得结业

证书。结业人员将优先充实至各

管理岗位，根据培养表现定岗任

用。

Leadership Development Training

「管理干部培训」

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

B4. Labour Standards

The Group has consistently adhered to lawful and

compliant employment principles, strictly prohibiting the

employment of any child labour or forced labour and fuly

complying with al laws and regulations related to the

prevention of child labour and forced labour. Specificaly,

this includes the folowing legal provisions:

– Labour Law of the People’s Republic of China

– Provisions on Prohibition of Child Labour of the People’s

Republic of China

– Law of the People’s Republic of China on Protection of

Minors

During the Reporting Period, the Group did not experience

any violations or ilegal incidents involving child labour or

forced labour.

Prevention of Child Labour and Forced Labour

During the recruitment proces, the Group requires new

employes to provide genuine and acurate personal

information. Recruitment personel must rigorously verify

onboarding documents – such as medical examination

certificates, academic credentials, identification cards,

and household registration – and may only proced with

onboarding procedures after confirming the acuracy

of identity information. This ensures the prevention

of child labour and the avoidance of any involvement

in forced labour. If it is found that an employe has

provided false information or violated Group regulations,

the labour contract wil be imediately terminated or

disolved in acordance with internal policies, and

apropriate measures wil be taken based on the specific

circumstances.

Regarding working hours management, the Group has

established the Work Regulation and Salary Regulations to

standardize recruitment proceses and clarify departmental

responsibilities. These measures systematicaly regulate

key aspects such as personel recruitment, leave policies,

and working hours management, clearly defining working

hours and overtime arangements to prevent forced

labour, avoid violations of labour standards, and efectively

safeguard employes’ rights and interests. Should such

violations be identified, the Group wil adres them with

due seriousnes in acordance with actual circumstances

and internal regulations.

B4. 劳工准则

本集团始终严格遵循合法合规的

用工原则，坚决禁止雇用任何童

工及强制劳工，并全面遵守所有

与防范童工和强制劳工相关的法

律法规。具体包括以下法律规范：

《中华人民共和国劳动法》

《中华人民共和国禁止使用童工规

定》

《未成年工特殊保护规定》

于本报告期间，本集团未发生任

何涉及童工或强制劳工的违法违

规情况。

防止童工及强制劳工

在招聘环节，本集团要求新员工

入职时提供真实、准确的个人资

料。招聘人员需对入职资料（如

体检合格证明、学历证明、身份

证、户口等）进行严格审核，核对

身份信息无误后方可办理入职手

续，从而杜绝雇佣童工或涉及强

制劳动的行为。若发现员工使用

虚假资料或违反本集团规定，将

根据内部规章制度，立即终止或

解除劳动合同，并根据实际情况

采取相应处理措施。

在工作时间管理方面，本集团

通过制定《就业规则》及《工资规

定》，标准化招聘流程和明确部

门职责分工，系统规范人员招

聘、休假制度及工作时间管理等

关键环节，明确工作时间及加班

安排，以防止强制劳工现象的发

生，避免违反劳工准则，切实保

障员工权益。一旦发现此类违规

行为，本集团将依据实际情况及

内部规定予以严肃处理。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

B5. Suply Chain Management

To establish a comprehensive suply chain management

system for the Group and to enhance operational

eficiency and sustainable development capabilities, the

Group has formulated the Suplier Management Policy

to standardise the management of al material and gods

procurement activities within the Group. The Group

achieves suply chain optimisation and upgrading through

the folowing core initiatives: establishing standardised

suplier admision and evaluation mechanisms, promoting

information sharing and cost control, and strengthening

suply security systems to ensure a stable and reliable

suply chain. By integrating the concept of gren

procurement into management proceses, prioritising

environmentaly certified products, and promoting

sustainable development throughout al stages of the

suply chain, we achieve the synergistic development of

economic benefits and environmental responsibility.

Suplier Management System

The Group’s suply chain management is founded on

a multi-departmental colaborative mechanism, through

which the Suplier Management Policy is formulated and

implemented.

In comprehensive suplier management, the Group

leverages the surounding industry ecosystem and internet

platforms to actively expand chanels and extensively

identify potential partners. For newly introduced supliers,

the Group rigorously enforces qualification asesments

and price review procedures. During the admision

stage, supliers are required to thoroughly complete the

Suplier Qualification Questionaire and other relevant

documentation. Subsequently, a multi-departmental

joint review team, comprising profesionals from the

Procurement Department, Quality Asurance Department,

and Technical Management Department, conducts a

comprehensive and in-depth evaluation of supliers acros

four key dimensions: price competitivenes, technical

proces capability, quality standards, and suply chain

security.

B5. 供应链管理

为构建完善的集团供应链管理体

系，全面提升运营效率与可持续

发展能力，本集团特制定《供应商

管理制度》，对集团内所有资材及

物资采购活动进行规范化管理。

本集团通过以下核心举措实现供

应链优化升级：建立标准化供应

商准入与评估机制，促进信息共

享与成本管控；强化供应安全保

障体系，确保供应链稳定可靠；

将绿色采购理念融入管理流程，

优先选择环保认证产品，推动供

应链各环节的可持续发展，实现

经济效益与环境责任的协同发展。

供应商管理体系

本集团供应链管理基于多部门协

同合作机制，制定并实施《供应商

管理制度》。

在供应商全流程管理方面，本集

团依托周边行业生态及互联网平

台，积极拓展渠道，广泛挖掘潜

在合作伙伴。针对新引入之供应

商，集团严格推行资质考核与价

格审查流程。在准入阶段，供应

商需详尽填写《供方调查表》及其

他相关材料。随后，由采购部、

品证部及技术管理部专业人员共

同组建多部门联合评审小组，从

价格竞争力、技术工艺能力、品

质水平以及供应链安全性这四个

关键维度，对供应商展开全方

位、深层次之细致评估。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Aditionaly, the Group implements a suplier grading

management system, categorising supliers as “God,

Average, or Por”. Diferentiated management measures

are aplied acording to each category, such as rewarding

high-quality supliers, suporting potential supliers,

and eliminating or blacklisting unqualified supliers.

Furthermore, a dynamic maintenance mechanism has ben

established. The Procurement Department regularly reviews

core suplier documentation, and every six months,

conducts a freze confirmation for supliers with whom

there has ben no long-term coperation, procesing them

acording to established procedures. This ensures that the

suplier management system consistently remains scientific

and efective.

The Group adopts a diversified suplier strategy for

the same product, typicaly maintaining coperative

relationships with two to thre supliers. If a suplier’s

delivery is afected by force majeure factors such

as weather, the suplier switching mechanism can

be promptly activated to ensure that other supliers

can continue timely suply, thereby safeguarding the

stability and continuity of the suply chain. For domestic

procurement operations, the overal delivery cycle is

reasonable. As a result, most asets face a low risk

of storage isues caused by weather factors during

procurement and inventory management proceses,

efectively mitigating potential risks such as inventory

backlog and aset los that may arise from weather-related

factors.

During the Reporting Period, the Group implemented

relevant management systems for 83 new supliers.

Case Study: Suplier Colaboration Conference

During the Reporting Period, the Group sucesfuly

convened its Anual Suplier Colaboration Conference,

bringing together nearly one hundred high-quality suplier

partners from acros the country. This significant event

was not only a sincere expresion of gratitude for

the long-term and steadfast suport of our supliers,

but also an important oportunity for both parties to

depen coperation amid the curent complex economic

environment. The sucesful convening of the conference

not only demonstrated the Group’s strong comitment to

suply chain partnerships but also laid a solid foundation

for promoting sustainable and high-quality busines

development for both parties.

此外，本集团实施供应商分级管

理制度，将供应商划分为「好、一

般、差」三个等级，并依据不同等

级采取差异化管理措施，如奖励

优质供应商、辅导潜力供应商、

淘汰不合格供应商或列入黑名单

等。此外，建立动态维护机制，

采购部定期覆核供应商主文档数

据，每半年对长期未合作的供应

商进行冻结确认并按流程处理，

确保供应商管理体系始终保持科

学性与有效性。

本集团针对同一项产品推行多元

化供应商策略，通常维持两至三

家供应商的合作关系。当某一供

应商因天气等不可抗力因素影响

供货时，能迅速启动供应商切换

机制，确保其他供应商可及时接

续供货，保障供应链的稳定性和

连续性。就国内采购业务而言，

整体交货周期适中。鉴于此，大

部分资产在采购及库存管理流程

中，受天气因素影响而引发储存

问题的风险较低，有效避免了因

天气因素可能导致的库存积压、

资产损耗等潜在风险。

于本报告年度，本集团已对83家

新供应商执行相关管理制度。

案例：供应协作商大会

于本报告期间，集团成功召开年

度供应协作商大会，汇聚了来自

全国各地的近百家优质供应协作

商。此次盛会不仅是对供应商长

期鼎力支持的诚挚感谢，更是双

方在当前复杂经济形势下深化合

作的重要契机。大会的成功举

办，既彰显了集团对供应链伙伴

关系的高度重视，也为推动双方

业务可持续高质量发展奠定了坚

实基础。

As at March 31, 2025 截至二零二五年三月三十一日
537
524
9
4

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

于本报告期间，本集团共有537家

供应商（二零二四财年：567家）。

按地区划分的供应商数目概述如

下：

During the Reporting Period, the Group had a total of

537 supliers (FY2024: 567 supliers). An overview of the

number of supliers by region is as folows:

Indicator Name

指标名称

Unit

单位

As at

March 31, 2024

截至

二零二四年

三月三十一日

Total number of supliers

供货商总数

Entities

家

Number of supliers by region

按地区划分的供货商数量

China

中国

Entities

家

Japan

日本

Entities

家

Other

其他

Entities

家

Responsible procurement

The Group consistently integrates environmental

responsibility, social responsibility, and ethical busines

practices throughout the entire suply chain management

proces, strictly adhering to principles of compliance and

sustainable development from suplier onboarding to daily

management.

During the suplier admision proces, the Group enforces

stringent qualification standards. New supliers are

required to hold environmental protection permits relevant

to their respective industries, ensuring their qualifications

are closely aligned with the Group’s sustainable

development strategy. For manufacturing supliers

who have already obtained government environmental

protection permits (such as wire manufacturers), the

Group upholds the principles of pragmatism and eficiency

by refraining from imposing redundant environmental

asesment criteria, thereby reducing the burden on

supliers while ensuring compliance. Furthermore, we

conduct comprehensive and thorough audits of supliers’

busines reputation and compliance records, requiring

them to maintain a strong busines track record with no

major violations or ethical deficiencies. We are comited

to eliminating any form of improper benefit transfer, thereby

ensuring suplier quality at the source.

负责任采购

本集团始终将环境责任、社会责

任及道德商业实践融入供应链管

理的全流程，从供应商准入到日

常管理，均严格遵循合规经营与

可持续发展原则。

在供应商准入环节，本集团执行

严格的资质匹配标准。一方面，

要求新供应商必须持有所属行业

的环保许可，确保其资质与集团

可持续发展战略高度契合。对于

已获得政府环保许可的生产型供

应商（如电线生产企业），秉持务

实高效原则，不再增设重复性环

保考核指标，在保证合规的同时

减轻供应商负担。另一方面，全

面、深入审核供应商的商业信誉

与合规记录，要求供应商具备良

好的营商记录，无重大违规行为

或商业道德瑕疵，坚决杜绝任何

形式的不当利益输送，从源头把

控供应商质量。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

During the procurement execution phase, we actively

implement gren procurement policies. We prioritise

the use of environmentaly-friendly materials, adopt

minimalist packaging, and select products with recyclable

features. This significantly reduces the proportion of

single-use material procurement and efectively enhances

environmental awarenes throughout the suply chain.

In terms of resource recycling, the Group actively

colaborates with supliers to implement the recycling of

obsolete asets. For packaging materials such as woden

frames and large cartons used for the transportation and

securing of machining centres, supliers are required

to simultaneously colect recyclable waste items upon

delivery. By adopting a closed-lop management model,

the Group achieves eficient resource reuse and efectively

reduces resource waste throughout its operations.

Meanwhile, the Group continuously enhances its risk

management system. Through regular asesments and

dynamic monitoring, it consistently optimises procurement

proceses to ensure ful compliance and the efectivenes

of the management system, thereby achieving a dep

integration of busines value and social responsibility.

To further enhance suplier management, the Group

organises a profesional team every six months to conduct

on-site asesments at supliers’ manufacturing facilities.

By means of on-site introductions from supliers and

direct observation of changes in production line personel,

we gain a thorough understanding of their energy usage,

production operations, and other actual conditions.

This enables us to acurately ases their busines

development and ensure that supliers consistently met

the Company’s high standards. In the past reporting year,

the Group’s suply chain system remained stable, and no

supliers were replaced due to environmental protection

isues.

在采购执行环节，大力推行绿色

采购政策。优先选择使用环保材

料、采用简约包装且具备循环利

用特性的产品，显著降低一次性

物资采购比例，有效推动供应链

整体环保意识的提升。

在资源循环利用方面，本集团积

极与供应商开展废旧资产回收合

作。针对加工中心运输固定用木

架、大纸箱等包装物料，要求供

应商在完成送货时同步回收可循

环利用的废旧物品，通过闭环管

理模式实现资源的高效再利用，

切实降低运营环节的资源浪费。

同时，本集团不断完善风险管控

体系，通过定期评估与动态监控

等手段，持续优化采购流程，确

保采购全流程的合规性及管理体

系的有效性，实现商业价值与社

会责任的深度融合。

为进一步强化供应商管理，本集

团每半年组织专业团队前往供应

商生产工厂进行实地考核。通过

供应商现场介绍、实地观察生产

线人员数量变化等方式，深入了

解其能源使用变动、生产运营等

实际情况，精准判断其业务发展

状况，确保供应商持续符合公司

的高标准要求。在过去一个报告

年度内，本集团供应链体系保持

稳定，未因环保问题更换任何供

应商。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

B6. Product Responsibility

The Group has consistently regarded product responsibility

as the cornerstone of corporate sustainable development.

We strictly adhere to al relevant laws and regulations and

have established a comprehensive product responsibility

management system. Through systematic institutional

design and proces control, we ensure comprehensive

coverage of key areas, including product and service

quality, intelectual property protection, product sample

management, customer satisfaction, customer privacy

protection, as wel as advertising and user manuals. This

aproach ensures compliance and reliability throughout

the entire product life cycle, while efectively safeguarding

the legitimate rights and interests of customers and

consumers. The folowing are the relevant laws and

regulations, including but not limited to:

– Advertising Law of the People’s Republic of China

– Regulation on the Implementation of Law of the People’s

Republic of China on the Protection of Consumer Rights

and Interests

– Product Quality Law of the People’s Republic of China

– Trademark Law of the People’s Republic of China

– Patent Law of the People’s Republic of China

– Copyright Law of the People’s Republic of China

To efectively fulfil our product responsibility comitments,

we have established specialised management systems,

such as the Product Monitoring and Measurement Control

Procedures and the Operation Regulations for Service

Invention. These initiatives have enabled us to develop a

comprehensive management framework that encompases

research and development, production, sales, and

after-sales service. Through the continuous optimisation of

the Customer Satisfaction Survey Regulations, Customer

Satisfaction Measurement Procedures, and After-sales

Service Management System, we consistently enhance

service quality, efectively safeguard consumer rights

and interests, and establish a solid foundation for the

sustainable development of the enterprise.

During the Reporting Period, the Group did not incur any

violations of laws or regulations related to the health and

safety, advertising, labeling, privacy maters, or remedial

measures concerning the products and services provided.

B6. 产品责任

本集团始终将产品责任视为企

业可持续发展的基石。我们严

格遵守相关法律法规，建立了完

善的产品责任管理体系。通过系

统化的制度设计与流程管控，我

们在产品及服务品质、知识产权

保护、产品样本管理、客户满意

度、客户隐私保护以及广告和说

明书等关键环节实现了全面覆

盖。这确保了产品全生命周期的

合规性与可靠性，同时切实维护

了客户及消费者的合法权益。以

下为相关的法律法规，包括不限

于：

－《中华人民共和国广告法》

－《中华人民共和国消费者权益保

护法》

－《中华人民共和国产品质量法》

－《中华人民共和国商标法》

－《中华人民共和国专利法》

－《中华人民共和国著作权法》

为切实履行产品责任承诺，我们

建立了《产品的监视和测量控制程

序》、《职务发明操作规程》等专项

管理制度，形成了涵盖研发、生

产、销售及售后服务的全流程管

理体系。通过持续优化《客户满意

度调查规定》、《顾客满意度测量

程序》和《售后服务管理制度》，我

们不断提升服务品质，切实保障

消费者权益，为企业的可持续发

展奠定坚实基础。

于本报告期间，本集团未发生任

何违反与所提供产品和服务相关

的健康与安全、广告、标签及私

隐事项以及补救措施的法律法规

的情况。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Product and Service Quality

The Group strictly adheres to ISO9001 quality management

system standards and has established a comprehensive

quality management system encompasing the entire

proces of manufacturing CNC precision automatic lathes

and their components. Through internal policies such

as the Product Monitoring and Measurement Control

Procedure, Rectification Measures and Preventive

Measures Control Procedures, and Non-Conformity

Control Procedure, we have clearly defined the quality

responsibilities of each department, thereby establishing

an eficient closed-lop management model. Through

rigorous proces control and continuous improvement, we

ensure that product quality mets customer requirements,

providing a solid foundation for delivering high-quality

products and services to our customers.

The Group ensures that procured products, in-proces

products, and final products comply with quality

requirements through a systematic inspection proces. Al

inspection records must be authentic and complete and

are regularly consolidated and analysed by the Quality

Asurance Department to ensure comprehensive control

over product quality and to provide robust suport for

product liability management.

产品及服务品质

本集团严格遵循ISO9001质量管

理体系标准，建立了涵盖数控精

密自动车床设备及其配件制造全

流程的质量管理体系。我们通过

《产品的监视和测量控制程序》、

《纠正措施和预防措施控制程

序》、《不合格控制程序》等集团内

部政策，明确各部门质量职责，

形成了高效的闭环管理模式。通

过严谨的过程控制与持续改进，

确保产品质满足客户需求，为

客户提供高品质的产品与服务提

供了坚实保障。

本集团通过系统化的检验流程，

确保采购产品、过程产品和最终

产品符合质量要求。所有检验记

录要求真实完整，由品证部定期

汇总分析，确保产品质量全程可

控，为产品责任管理提供有力保

障。

Procured

products: Through

suplier management,

arival veriﬁcation, and

clasiﬁcation inspection,

nonconforming

products are strictly

handled in acordance

with procedures, and

emergency release is

strictly prohibited.

In-proces products:

Implement a

comprehensive

inspection mechanism

that combines ﬁrst

inspection,

reinspection, patrol

inspection, and special

inspection.

Final product:

Ful inspection may

only proced after the

preceding inspection

has ben pased

Nonconforming

products require

special aproval.

采购产品：经供方管理、

到货核对和分类检验，

不合格品严格按程序

处理且禁止紧急放行。

过程产品：实施首检、

复检、巡检和专检相结合

的多重检验机制。

最终产品：完成前序

检验合格后方可进行

全数检验，不合格品

需经特殊审批。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Regarding production proces inspections, the Group

has established a regular sampling and inspection

system, conducting inspections on a monthly basis. The

scope of inspection includes adherence to inspection

procedures, checklist operations, work methods, and ‘6S

Management’, among other aspects.

Within the quality and environmental management

improvement system, the Group has clearly defined the

responsibilities of the Quality Asurance Department and

the Enginering Department, categorising improvement

initiatives into thre levels: routine improvements, major

improvement projects, and other improvement measures.

The Quality Asurance Department is dedicated to quality

management enhancements, responsible for identifying,

analysing, and resolving isues related to product

quality. The Enginering Department is responsible for

environmental management improvements, striving to

elevate the Group’s environmental management standards

and minimise environmental impact. Al departments

colaborate closely, creating a strong colective synergy.

Regarding the control mechanism for nonconforming

products and items, the Group has established a

systematic management framework through the

Non-Conformity Control Procedure. Led and organised by

the Quality Asurance Department, this ensures that al

types of nonconformance isues are adresed promptly

and efectively.

在生产过程巡检方面，本集团建

立定期抽检巡检制度，以月度为

固定周期有序开展巡检工作，巡

检内容包括是否按检查手顺、点

检表操作，作业方法及「6S管理」

等方面。

在质量与环境管理改进体系中，

本集团明确划分了品证部与工程

部的职责，将改进工作划分为日

常改进、较重大改进项目和其他

改进措施三个层次。品证部专注

于质量管理改进，负责识别、分

析和解决与产品质量相关的问

题；工程部则负责环境管理改

进，致力于提升集团的环境管理

水平，减少对环境的影响。各部

门之间协同配合，形成强大的工

作合力。

在不合格品及不合格项管控机制

方面，本集团通过《不合格控制程

序》，构建了系统化的管控机制，

由品证部牵头组织实施，确保各

类不合格问题能够得到及时、有

效的处理。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Types of Nonconforming

Products

不合格品类型

Severity

严重程度

Handling Method

处理方式

Incoming Nonconformance

进货不合格

Minor

一般

For nonconforming products identified during the

incoming inspection stage, return or replacement is

prioritised. If concesion aceptance is required due

to special circumstances, a rigorous evaluation and

aproval proces must be conducted to ensure that

such aceptance does not adversely afect product

quality or subsequent production proceses.

对于进货环节发现的不合格品，首先考虑退换货；若因特

殊原因需让步接收，则需进行严格的评估和审批，确保让

步接收不会对产品质量和后续生产环节造成不利影响。

Semi-finished or finished

products during the

production proces

生产过程中的半成品╱成品

Case-Dependent

视具体情况而定

Depending on the specific nature of the nonconformity,

select apropriate measures such as rework, repair,

or scraping. Products that have undergone rework or

repair must be re-inspected to ensure compliance with

quality standards before proceding to the next stage of

production or delivery to the customer.

根据不合格的具体情况，选择返工、返修或报废等方式进

行处置。返工和返修后的产品需重新进行检验，确保其符

合质量标准后方可进入下一生产环节或交付客户。

Isues identified after sales

售后发现问题

Critical

严重

Isues identified after sales that are clasified as severe

nonconformities should be adresed acordingly.

Promptly trace the rot cause, organise profesional

technical personel for analysis and resolution, and

conduct a comprehensive inspection of similar products

to prevent recurence of similar isues.

售后发现的问题按严重不合格处理，及时追溯问题源头，

组织专业技术人员进行分析和解决，同时对同类产品进行

全面排查，防止类似问题再次发生。

During the Reporting Period, the Group did not recal any

products sold or shiped for safety or health reasons

(FY2024: None).

于本报告期间，本集团并没有任何因安全与健康

理由而需回收已售或已运送的产品（二零二四财

年：无）。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Product Description and Promotion

The Group consistently upholds the principle of integrity

in its operations, having established a rigorous and

comprehensive management system for product

descriptions and advertising promotions. Leveraging

the Product Manual Procedure, the Group implements

standardised management acros al product

documentation. Employes are required to conduct

multiple rounds of content verification to ensure that

product information precisely matches actual performance,

strictly preventing any form of false advertising, misleading

statements, or information omisions, thereby efectively

safeguarding customers’ right to information and consumer

interests.

In the management of product samples and promotional

materials, the Group has established a comprehensive

management system encompasing both policies and

procedures.

, the Group has clearly defined

standards for the isuance of new samples,

detailed the aplication procedures for promotional

materials, and set forth contact guidelines; and

, the Group exercises strict

control over sample printing management,

continuously colects and incorporates fedback for

improvements, and standardises the registration of

sample distribution, thereby forming a closed-lop

management mechanism.

Through this series of refined management initiatives, the

Group has not only achieved a comprehensive upgrade

in product quality control but also provides customers

with robust consumer protection through transparent and

standardized promotional content.

产品说明及宣传

本集团始终秉持诚信经营理念，

构建了严谨完善的产品说明与广

告宣传管理制度体系。依托《产

品说明书流程》，对所有产品说明

文档实施全流程规范化管理，要

求员工严格执行多轮内容核查机

制，确保产品说明信息与实际性

能精准匹配，坚决杜绝任何形式

的虚假宣传、误导性表述及信息

遗漏，切实保障客户的知情权与

消费权益。

在产品样本与宣传资料管理方

面，本集团已建立覆盖政策与流

程的完整管理体系。

：明确新样本发

行规范，细化宣传资料申

请流程与联络准则；及

：严格把控样本

印刷管理、持续收集修正

意见、规范样本领用登

记，形成闭环管理机制。

通过这一系列精细化管理举措，

本集团不仅实现产品质量管控的

全面升级，更以透明、规范的宣

传内容为客户提供坚实的消费保

障。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

During the Reporting Period, the Group has efectively

enhanced its brand influence through diversified

promotional strategies. On one hand, we have conducted

scientific asesments of resource alocation and carefuly

selected profesional exhibitions in multiple cities, with

a focus on promoting a wide range of machine models

to strengthen market recognition. On the other hand, we

have sucesfuly organised factory open day events,

inviting both new and existing customers for on-site visits

through interactive formats such as electronic welcome

screns and dynamic product displays, providing a direct

demonstration of the Company’s capabilities. While strictly

managing publicity risks, these initiatives have not only

precisely reached our target customer groups but have

also depened customer trust in the Group’s technology

and products through imersive experiences.

Protection of Intelectual Property Rights

The Group places a high priority on the protection

of intelectual property rights and has established a

comprehensive patent management system through

the Operational Procedures for Service Inventions. We

actively encourage technological inovation by providing

employes with patent aplication forms and have

established a dedicated Audit Comite responsible

for patent aplication review, reward evaluation, and

procedural revisions. At the same time, employes involved

in inventions are strictly required to maintain confidentiality

prior to obtaining patent certificates, thereby efectively

safeguarding the rights of inventors and the interests of the

Group.

In trademark management, the Group has established

the Company Trademark Operation Procedure to regulate

trademarks as important intangible asets. This procedure

clearly defines key maters such as new trademark

aplications and licensing, ensuring that trademark

management is conducted in a standardised and orderly

maner, thereby providing strong suport for the Group’s

busines development.

于本报告期间，本集团通过多元

化宣传推广方式有效提升品牌影

响力：一方面，我们科学评估资

源配置，精选多个城市的专业展

会参展，重点推介多型号机型以

强化市场认知；另一方面，成功

举办工厂开放日活动，通过电子

欢迎屏、动态产品展示等互动形

式，邀请新老客户实地考察，直

观展现企业实力。在严格管控宣

传风险的前提下，这些举措不仅

精准触达目标客户群体，更以沉

浸式体验深化了客户对集团技术

与产品的信任。

保护知识产权

本集团高度重视知识产权保护，

通过《职务发明操作规程》建立完

善的专利管理体系。我们积极鼓

励技术创新，为员工提供专利方

案申请表，并成立专门的发明审

核委员会负责专利申请审核、奖

励评定及规程修订。同时严格要

求涉及发明的员工在获得专利证

书前做好保密工作，切实保障发

明人权益和集团利益。

在商标管理方面，本集团制定《公

司商标操作流程》，将商标作为重

要无形资产进行规范管理。该流

程明确规定了商标新申请和授权

许可等关键事项，确保商标管理

工作规范有序开展，为集团业务

发展提供有力保障。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Case Study – Mas Production of New Machine

In 2024, the Group sucesfuly achieved mas production

of the new FMA5-V horizontal machining centre. This

product features a groundbreaking integrated inteligent

production line design, enabling extended unmaned

machining operations and further strengthening the

Group’s technological leadership in the high-end CNC

machine tol sector. The mas production of the FMA5-V

not only provides customers with advanced inteligent

manufacturing solutions but also underscores the

Group’s core strategy of inovation-driven development,

continuously advancing industrial upgrading and

technological progres.

案例

于二零二四年，本集团成功量产

新型卧式加工中心FMA5-V。该

产品采用突破性的集成式智能生

产线设计，具备长时间的无人化

加工能力，进一步强化了集团在

高端数控机床领域的技术优势。

FMA5-V的量产不仅为客户提供了

更先进的智能制造解决方案，更

彰显了集团以创新驱动发展的核

心战略，持续推动产业升级和技

术进步。

Protecting customer privacy

The Group places great emphasis on customer data

protection and privacy management, upholding data

privacy and security as fundamental operational principles.

A comprehensive protection system has ben established

acros multiple dimensions, including legal compliance,

system development, aces control, and technical

safeguards. We strictly adhere to laws and regulations

concerning consumer rights and customer privacy

protection, including but not limited to:

– Law of the People’s Republic of China on the Protection

of Consumer Rights and Interests

– Cybersecurity Law of the People’s Republic of China

保护客户隐私

本集团高度重视客户数据保护与

隐私管理，秉持资料隐私及安全

为关键经营原则，从法律遵循、

制度建设、权限管控、技术保障

等多维度构建严密防护体系。我

们严格遵循与消费者权益和客户

隐私保护相关的法律法规，包括

但不限于：

－《中华人民共和国消费者权益保

护法》

－《中华人民共和国网络安全法》

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

We have developed and implemented comprehensive

information privacy and data security policies, which have

ben efectively comunicated to al employes. We have

established a rigorous Client Master File Management

Policy, which clearly stipulates that only designated

employes, in acordance with the Group’s strict

information aces protocols and authority management

mechanisms, may aces such information. Customer

information is clasified as confidential and is acesible

only to management level and above. Employes who

require aces to relevant information for work purposes

must undergo a rigorous content management aproval

proces. Any violation of these regulations wil result

in termination of employment and may also entail legal

liability.

At the technical security level, the Group employs

multiple layers of security protection, including advanced

technologies such as firewals and data encryption. A strict

aces control mechanism is enforced, with imediate

revocation of data aces rights upon an employe’s

resignation or transfer. It is explicitly stipulated that

personal information may not be used for non-busines

purposes without customer consent, thereby establishing

a comprehensive customer information security protection

system.

During the Reporting Period, the Group did not identify any

serious violations of laws or regulations related to customer

personal data privacy.

Customer Satisfaction

The Group has established a systematic complaint

management system that encompases key areas such as

product quality, service atitude, and significant economic

loses. By implementing the Customer Satisfaction

Survey Regulations, Standards for Handling Complaints,

and After-Sales Service Management System, the Group

ensures standardised complaint handling procedures,

guaranteing that every complaint receives a profesional

and eficient response. Concurently, in daily operations,

we ensure al client requests identified during service

folow-ups are promptly documented and escalated to

relevant internal departments, ensuring eficient resolution

of isues. While earnestly safeguarding customer rights

and interests, we continuously promote the optimisation

and enhancement of service quality.

我们制定并实施全面的信息隐私

及数据安全政策，已有效传达至

全体员工。建立严格的《客户主文

档管理制度》，明确仅特定员工基

于集团建立了严格的信息查阅制

度与权限管理机制。客户信息属

于机密内容，仅限管理层及以上

人员访问。其他员工如因工作需

要访问相关信息，必须经过严格

的内容管理审批流程。任何违反

规定的行为将导致雇用终止，并

可能面临法律追责。

在技术保障层面，本集团采用多

重安全防护措施，包括防火墙、

数据加密等先进技术手段。严格

执行权限管控机制，在员工离

职或调岗时即时撤销数据访问权

限，并明确规定未经客户许可不

得将个人信息用于非业务用途，

构建全方位的客户信息安全防护

体系。

于本报告期间，本集团未发现任

何严重违反客户个人数据隐私相

关法律规例的情况。

客户满意度

本集团构建了涵盖产品质量、服

务态度以及重大经济损失等关键

环节的系统化投诉管理体系。通

过《客户满意度调查规定》、《苦

情对应基准书》和《售后服务管理

制度》，实施标准化的投诉处理流

程，确保每项投诉均能得到专业

高效的响应。与此同时，在日常

营业流程中，我们坚持在客户回

访环节及时记录客户诉求，同步

将相关信息反馈至公司内部，并

推动问题高效解决。在切实维护

客户权益的同时，推动服务质量

持续优化与提升。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

In acordance with the Customer Satisfaction Survey

Regulations, the Customer Service Department conducts

a questionaire survey every six months, distributing the

standardised questionaires to key customers nationwide.

After colecting and organising the responses, a Customer

Satisfaction Analysis Report is compiled to analyse

customer fedback and requirements, providing data

suport for the optimisation of products and services. The

survey results serve as an important basis for busines

decision-making. With the suport of the Standards

for Handling Complaints, a standardised complaint

management system has ben established, covering

various types of complaints and design improvements.

Folowing joint confirmation by multiple departments, the

technical team formulates the plan, which is implemented

after cros-departmental evaluation and supervised by

the Quality Asurance Department. Manufacturing isues

are adresed by the Manufacturing Department, while

design isues folow a dedicated improvement proces.

Al complaints are tracked through the Complaint Card

system to ensure closed-lop management and continuous

quality improvement. Leveraging the After-Sales Service

Management System, which encompases both the

headquarters’ Customer Service Department and branch

ofices, the Company clearly defines service standards

for thre categories: complimentary, paid, and machine

delivery services. A rapid response mechanism has

ben established, standardising the proceses for repair

requests, service delivery, and documentation. Closed-lop

management is implemented through folow-up visits

and customer fedback surveys. Spare parts sales are

regulated with tiered pricing and credit management.

Diferentiated proceses are aplied for various service

types, with comprehensive documentation and regular

folow-up visits to ensure timely and efective resolution of

after-sales isues.

During the Reporting Period, the Group did not receive any

significant writen complaints regarding its products and

services (FY2024: None).

依据《客户满意度调查规定》，客

服部每半年主导问卷调查，向全

国重点客户发《客户满意度调查

表》，回收整理后编制《客户满

意度分析报告》，剖析客户评价

与需求，为产品服务优化提供数

据支撑，调查结果用于经营决策

的重要依据。借助《苦情对应基

准书》，建立标准化投诉处理体

系，覆盖各类投诉与设计改善。

经多部门联合确认、技术团队定

方案、跨部门评估后实施，品证

部监督；针对制造问题由制造部

改进，设计问题走专项改善流

程，通过《苦情卡》追踪，实现每

项投诉都得到闭环处理与质量提

升。凭借《售后服务管理制度》，

涵盖总部客服部及分公司，明确

无偿、有偿、交机三类服务标

准。设置了快速响应机制，规范

报修、服务、归档流程，实行闭

环管理（回访、意见调查），规范

零部件销售（分级报价、信用管

理），不同服务实施差异化流程，

建立文档记录并定期回访，确保

售后问题得到及时有效解决。

于本报告期闲，本集团未收到任

何有关产品及服务的重大书面投

诉（二零二四财年：无）。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

B7. Anti-Coruption

The Group consistently prioritises compliance in its

operations, strictly adhering to al relevant laws and

regulations, and has established an efective compliance

management system to prevent bribery, extortion,

fraud, and money laundering. We have established a

comprehensive set of policy documents, including the

Tsugami Group Code of Conduct, Code of Conduct

for Employes, Anti-Coruption Policy, Anti-Fraud and

Reporting System, and Whistleblowing Policy. Through

the establishment of comprehensive systems and rigorous

enforcement mechanisms, the Group is comited to

fostering a corporate ecosystem defined by integrity,

transparency, and clear acountability. The Group strictly

adheres to the folowing laws and regulations, including but

not limited to:

– Criminal Law of the People’s Republic of China

– Company Law of the People’s Republic of China

– Biding and Tendering Law of the People’s Republic of

China

– Anti-Unfair Competition Law of the People’s Republic of

China

– Interim Provisions on the Prohibition of Comercial

Bribery

During the Reporting Period, the Group recorded no

violations of laws and regulations concerning the prevention

of bribery, extortion, fraud, or money laundering, nor were

there any coruption lawsuits involving the Group or its

employes (FY2024: None).

Anti-Coruption and Anti-Fraud

The Group consistently upholds the highest ethical

standards, fostering a corporate culture of integrity and

fairnes, and is dedicated to the prevention, monitoring,

and reporting of al forms of fraud, including coruption.

Acordingly, the Group has established an Anti-Coruption

Policy and requires al directors, senior oficers, and

employes to adhere to it strictly.

B7. 反贪污

本集团始终将合规经营置于重要

地位，严格恪守相关法律法规，

在防止贿赂、勒索、欺诈及洗黑

钱方面建立了有效的合规管理

体系。我们制定了一系列制度文

件，包括《津上集团行为规范》、

《员工行为准则》、《反贪污政

策》、《反舞弊及举报制度》以及

《举报政策》。通过完善的制度建

设和严格的执行机制，致力于构

建诚信、透明且责任明确的企业

生态。本集团严格执行以下法律

法规，包括不限于：

－《中华人民共和国刑法》

－《中华人民共和国公司法》

－《中华人民共和国招标投标法》

－《中华人民共和国反不正当竞争

法》

－《关于禁止商业贿赂行为的暂行

规定》

于本报告期间，本集团无任何违

反防止贿赂、勒索、欺诈及洗钱

法律法规的情况，也未发生针对

集团及其雇员的贪污诉讼案件（二

零二四财年：无）。

反贪污及反舞弊

本集团始终坚定不移地恪守最高

道德准则，秉持诚信与公正的公

司文化，致力于预防、监察并报

告各类欺诈（涵盖贪腐）行为。为

此，本集团专门制定了《反腐败政

策》，并严格要求全体董事、高级

职员及员工严格遵守。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

To adres violations, the Group has implemented

an Anti-Fraud and Reporting System, as wel as a

Whistleblowing Policy. Multiple reporting chanels are

available for improper conduct such as financial violations,

fraud, bribery, coruption, and safety hazards, including

both internal and external reporting mechanisms. Upon

receiving a report, the Company wil acknowledge receipt

within five working days and initiate an investigation based

on the circumstances. The investigation results wil also

be promptly comunicated to the whistleblower. The

Group places great emphasis on protecting the rights and

interests of whistleblowers, strictly prohibits information

leaks and retaliation, and ensures that whistleblowers

can report concerns with confidence and receive

comprehensive protection.

The Group’s Audit Comite regularly reviews the

efectivenes of relevant policies to ensure the continuous

optimisation of the whistleblowing mechanism. At the

same time, the Group requires its busines partners

to adhere to a zero-tolerance policy towards bribery

and coruption, jointly upholding a fair and transparent

busines environment. Furthermore, the Group conducts

anual training on anti-coruption laws and regulations,

continuously strengthening employes’ compliance

awarenes through regular training and fostering a culture

of integrity.

During the Reporting Period, the Group aranged

aproximately 22 hours and 970 hours of anti-coruption

training seminars for 11 directors and 485 employes,

respectively (FY2024: aproximately 16.00 hours and

874.00 hours of anti-coruption training were provided to 8

directors and 437 employes, respectively).

针对违规行为，本集团建立了《反

舞弊与举报制度》以及《举报政

策》。对财务违规、舞弊、贿赂、

贪污、安全危害等不当行为，提

供了多元化的举报渠道，包括内

部举报和外部举报。公司在收到

举报后的五个工作日内会予以确

认，并根据实际情况展开调查，

调查结果也将及时反馈给举报

人。本集团高度重视举报人的权

益保护，严禁信息泄露及打击报

复行为，确保举报人能够安心申

诉并获得充分保护。

本集团审核委员会定期对相关

政策的有效性进行检讨，以确保

举报机制持续优化。同时，集团

要求业务合作伙伴共同遵守对贿

赂和贪污零容忍的政策，共同维

护公平透明的商业环境。此外，

集团每年都会开展反贪污法律法

规培训，通过年度常态化培训不

断强化员工的合规意识，培育廉

洁的企业文化。

于本报告期间，本集团为11名董

事及485名员工分别安排了约22

小时及约970小时的反贪污培训讲

座（二零二四财年：向8名董事及

437名员工分别提供了约16.00小

时及约874.00小时反贪污培训）。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Internal Control Management and Audit

The Group advances operational rationalisation and

eficiency and ensures busines compliance by establishing

the Tsugami Group Code of Conduct, the Code of Conduct

for Employes, and the Internal Audit Management

Regulations, as wel as by implementing a systematic

internal audit mechanism. As the highest decision-making

authority, the Board of Directors delegates oversight and

cordination responsibilities to the Audit Comite, with

the Audit Ofice executing these duties. The positions of

Audit Ofice Director and Audit Oficer are established,

with clearly defined hierarchical responsibilities. Audits are

categorised as either regular or ad hoc, comprehensively

covering organisational structure, busines proceses,

and acounting systems, and, when necesary, extending

to afiliated companies and outsourced institutions. The

anual audit plan consists of a basic plan aproved by the

Audit Comite and an implementation plan authorised

by the Head of the Audit Ofice, with execution caried out

flexibly through writen or on-site methods. Audit results

are compiled into tiered reports, which are archived upon

aproval by the Board of Directors; significant maters

must be reported imediately. Subsequently, the General

Manager organises rectification discusions, the audited

departments are required to implement improvement

measures within a specified timeframe and provide

fedback, and the Audit Ofice continuously monitors

and verifies the proces. The entire proces emphasises

colaboration with acounting auditors to establish a

closed-lop management system of “Planing-Execution-R

eport-Rectification”.

内控管理与监查

本集团通过制定《津上集团行为

规范》、《员工行为准则》以及《内

部监查管理制度》，通过系统化内

部监查机制推动集团经营合理化

与效率化，保障业务合规运行。

董事会作为最高决策机构授权监

查委员会统筹监督，监查室具体

执行；设监查室长及监查担当，

明确分级职责。监查分为定期与

临时两类，覆盖组织架构、业务

流程、会计制度等全维度，必要

时延伸至关联公司及委托外部机

构。年度监查计划包含由审核委

员会批准的基本计划和监查室长

核准的实施计划，执行时灵活采

用书面或现场方式。监查结果形

成分级报告，经董事会批准后存

档，重大事项需即时汇报；后续

由总经理组织整改研讨，被监查

部门限期落实改进措施并反馈，

监查室持续跟踪验证。全过程强

调与会计监查员协同，构建「计

划－执行－报告－整改」闭环管

理体系。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

B8. Comunity Investment

The Group consistently upholds its corporate citizenship

responsibilities and systematicaly advances social

responsibility practices through its established Provisions

for Social Beneficial Activities. The Group vigorously

suports comunity initiatives in the public welfare

sector and encourages employe participation, thereby

fostering social responsibility awarenes and contributing

to comunity development. The Group demonstrates

strong comitment to environmental stewardship through

strategic investments in gren and energy-eficient

initiatives, coupled with active participation in diverse

sustainability practices. These concerted eforts have

tangibly enhanced our environmental engagement metrics

and operational eco-eficiency. These initiatives not only

demonstrate the Company’s social responsibility but also

foster a positive interaction betwen employe growth and

social development.

Case Study – Public Park Cleanup Initiative

In March 2025, demonstrating our comitment to

ecological civilization and corporate social responsibility,

the Group actively responded to the cal from Sanyou

Comunity, Zhongdai Subdistrict, Pinghu City, Zhejiang

Province, by participating in the ‘Learn from Lei Feng’

Lianxin public park cleanup initiative.

During preparation, we mobilised employes through

internal campaigns to form a profesional volunter team,

equiped with standardized cleaning tols including

broms, garbage pickers, and eco-friendly waste bags.

Volunters conducted focused cleanup of white polutants

in gren belts, cigarete buts on public roads, and falen

leaves on walkways, while systematicaly adresing

neglected sanitation areas.

The 4-hour initiative significantly improved comunity

living conditions. Beyond environmental remediation,

this activity embodied our eforts to promote Lei Feng’s

spirit and advance civilizational practices in the new era,

underscoring our dedication to comunity engagement

and public service.

B8. 社区投资

本集团始终秉持企业公民责任，

通过制定的《社会公益性活动规

定》系统推进社会责任实践：在公

益领域大力支持社区活动并鼓励

员工参与，促进社会责任意识培

养与社会共建；在环保领域重视

对绿色及节能环保项目的投资，

并积极投身各类环保实践活动，

切实提高环保参与度，切实提升

环保参与度。这些举措既彰显了

企业的社会担当，也实现了员工

成长与社会发展的良性互动。

案例－公益清洁活动

2025年3月，为积极响应生态文

明建设号召，践行企业社会责

任，深化社区共建机制，集团积

极响应所属辖区—浙江平湖市钟

埭街道三友社区的号召，主动参

与「学雷锋」主题连心公园公益清

洁活动。

活动筹备阶段，集团通过内部动

员号召员工踊跃报名，组建专业

化志愿者服务队伍，统筹配备扫

帚、垃圾夹、环保垃圾袋等清洁

工具。活动期间，志愿者针对绿

化带白色污染物、公共道路烟

蒂、步道落叶等进行集中清理，

同步对社区卫生死角进行专项治

理。

此次公益活动历时4小时，有效改

善社区人居环境质量。活动不仅

是环境治理实践，更是集团弘扬

雷锋精神、推动新时代文明实践

的重要举措，充分展现企业扎根

社区、服务群众的价值追求。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Lianxin Public Park Cleanup Initiative

「连心公园公益清洁活动」

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

HKEX ESG REPORTING GUIDE INDEX

KPIDescriptionNote

指标香港联交所ESG报告指引要求章节╱备注

Governance Structure

管治架构

General Disclosure

一般披露

A statement from the board containing the folowing elements:

由董事会发出的声明，当中载有下列内容：

(a) a disclosure of the board’s oversight of ESG isues;

(a) 披露董事会对环境、社会及管治事宜的监管；

(b) the board’s ESG management aproach and strategy,

including the proces used to evaluate, prioritise and manage

material ESG-related isues (including risks to the isuer’s

busineses); and

(b) 董事会的环境、社会及管治管理方针及策略，包括评估、优次

排列及管理重要的环境、社会及管治相关事宜（包括对发行人

业务的风险）的过程；及

goals and targets with an explanation of how they relate to

the isuer’s busineses.

们如何与发行人业务有关连。

ESG Governance Structure

ESG管治架构

Reporting Principles

汇报原则

General Disclosure

一般披露

A description of, or an explanation on, the aplication of the

folowing Reporting Principles in the preparation of the ESG

report:

描述或解释在编备环境、社会及管治报告时如何应用下列汇报原

则：

Materiality: The ESG report should disclose: (i) the proces to

identify and the criteria for the selection of material ESG factors;

(i) if a stakeholder engagement is conducted, a description of

significant stakeholders identified, and the proces and results of

the isuer’s stakeholder engagement.

重要性：环境、社会及管治报告应披露：(i)识别重要环境、社会及

管治因素的过程及选择这些因素的准则；(i)如发行人已进行持份者

参与，已识别的重要持份者的描述及发行人持份者参与的过程及结

果。

REPORTING FRAMEWORK

报告框架

联交所《ESG报告指引》索引

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

KPIDescriptionNote

指标香港联交所ESG报告指引要求章节╱备注

Quantitative: Information on the standards, methodologies,

asumptions and/or calculation tols used, and source of

conversion factors used, for the reporting of emisions/energy

consumption (where aplicable) should be disclosed.

量化：有关汇报排放量╱能源耗用（如适用）所用的标准、方法、

假设及╱或计算工具的资料，以及所使用的转换因素的来源应予

披露。

Consistency: The isuer should disclose in the ESG report any

changes to the methods or KPIs used, or any other relevant

factors afecting a meaningful comparison.

一致性：发行人应在环境、社会及管治报告中披露统计方法或关键

绩效指标的变更（如有）或任何其他影响有意义比较的相关因素。

Reporting Boundary

汇报范围

General Disclosure

一般披露

A narative explaining the reporting boundaries of the ESG report

and describing the proces used to identify which entities or

operations are included in the ESG report. If there is a change in

the scope, the isuer should explain the diference and reason

for the change.

解释环境、社会及管治报告的汇报范围，及描述挑选哪些实体或业

务纳入环境、社会及管治报告的过程。若汇报范围有所改变，发行

人应解释不同之处及变动原因。

REPORTING SCOPE

报告范围

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

KPIDescriptionDisclosed or notNote

指标香港联交所ESG报告指引要求是否披露章节╱备注

A.Environmental Aspect

A.环境

A1: Emisions

层面A1：排放物

General Disclosure

一般披露

Information on:

有关废气及温室气体排放、向水及土地的排污、有害及无害废

弃物的产生等的：

(a) the policies; and

(a) 政策；及

(b) compliance with relevant laws and regulations that

have a significant impact on the isuer relating to air and

grenhouse gas emisions, discharges into water and land,

and generation of hazardous and non-hazardous waste.

(b) 遵守对发行人有重大影响的相关法律及规例的资料。

Note:

注：

Air emisions include NOx, SOx, and other polutants regulated under

national laws and regulations.

废气排放包括氮氧化物、硫氧化物及其他受国家法律及规例规管的污染物。

Grenhouse gases include carbon dioxide, methane, nitrous oxide,

hydrofluorocarbons, perfluorocarbons and sulphur hexafluoride.

温室气体包括二氧化碳、甲烷、氧化亚氮、氢氟碳化合物、全氟化碳及六氟化

硫。

Hazardous wastes are those defined by national regulations.

有害废弃物指国家规例所界定者。

Disclosed

已披露

A1. Emisions

A1排放物

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

KPIDescriptionDisclosed or notNote

指标香港联交所ESG报告指引要求是否披露章节╱备注

A1.1The types of emisions and respective emisions data.DisclosedEmision Control

A1.1排放物种类及相关排放数据。已披露排放控制

A1.2Direct (Scope 1) and energy indirect (Scope 2) grenhouse

gas emisions (in tones) and, where apropriate, intensity

(e.g. per unit of production volume, per facility).

DisclosedEmision Control

A1.2直接（范围1）及能源间接（范围2）温室气体排放量（以吨计算）

及（如适用）密度（如以每产量单位、每项设施计算）。

已披露排放控制

A1.3Total hazardous waste produced (in tones) and, where

apropriate, intensity (e.g. per unit of production volume, per

facility).

DisclosedHazardous Waste

A1.3所产生有害废弃物总量（以吨计算）及（如适用）密度（如以每产

量单位、每项设施计算）。

已披露有害废弃物

A1.4Total non-hazardous waste produced (in tones) and, where

apropriate, intensity (e.g. per unit of production volume, per

facility).

DisclosedNon-hazardous

Waste

A1.4所产生无害废弃物总量（以吨计算）及（如适用）密度（如以每产

量单位、每项设施计算）。

已披露无害废弃物

A1.5Description of emision target(s) set and steps taken to

achieve them.

DisclosedEnvironmental

Targets

A1.5描述所订立的排放量目标及为达到这些目标所采取的步骤。已披露环境目标

A1.6Description of how hazardous and non-hazardous wastes

are handled, and a description of reduction target(s) set and

steps taken to achieve them.

DisclosedWaste Management

A1.6描述处理有害及无害废弃物的方法，及描述所订立的减废目标

及为达到这些目标所采取的步骤。

已披露废弃物管理

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

KPIDescriptionDisclosed or notNote

指标香港联交所ESG报告指引要求是否披露章节╱备注

A2: Use of Resources

层面A2：资源使用

General Disclosure

一般披露

Policies on the eficient use of resources, including energy,

water and other raw materials.

有效使用资源（包括能源、水及其他原材料）的政策。

Note:

注：

Resources maybe used in production, in storage, transportation, in buildings,

electronic equipment, etc.

资源可用于生产、储存、运输、楼宇、电子设备等。

Disclosed

已披露

A2. Use of

Resources

A2资源使用

A2.1Direct and/or indirect energy consumption by type (e.g.

electricity, gas or oil) in total (kWh in ’000s) and intensity (e.g.

per unit of production volume, per facility).

DisclosedEnergy

Consumption

A2.1按类型划分的直接及╱或间接能源（如电、气或油）总耗量（以

千个千瓦时计算）及密度（如以每产量单位、每项设施计算）。

已披露能源消耗

A2.2Water consumption in total and intensity (e.g. per unit of

production volume, per facility).

DisclosedWater Consumption

A2.2总耗水量及密度（如以每产量单位、每项设施计算）。已披露水资源消耗

A2.3Description of energy use eficiency target(s) set and steps

taken to achieve them.

DisclosedEnvironmental

Targets

A2.3描述所订立的能源使用效益目标及为达到这些目标所采取的步

骤。

已披露环境目标

A2.4Description of whether there is any isue in sourcing water

that is fit for purpose, water eficiency target(s) set and steps

taken to achieve them.

DisclosedEnergy

Consumption;

Environmental

Targets

A2.4描述求取适用水源上可有任何问题，以及所订立的用水效益目

标及为达到这些目标所采取的步骤。

已披露水资源消耗；环境目

标

A2.5Total packaging material used for finished products (in

tones) and, if aplicable, with reference to per unit

produced.

DisclosedUse of Packaging

Materials

A2.5制成品所用包装材料的总量（以吨计算）及（如适用）每生产单

位占量。

已披露包装材料消耗

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

KPIDescriptionDisclosed or notNote

指标香港联交所ESG报告指引要求是否披露章节╱备注

A3: The Environment and Natural Resources

层面A3：环境及天然资源

General DisclosurePolicies on minimising the isuer’s significant impacts on the

environment and natural resources.

DisclosedA3. Environment

and Natural

Resources

一般披露减低发行人对环境及天然资源造成重大影响的政策。已披露A3环境及天然资源

A3.1Description of the significant impacts of activities on the

environment and natural resources and the actions taken to

manage them.

DisclosedEnvironmental Risk

Management

A3.1描述业务活动对环境及天然资源的重大影响及已采取管理有关

影响的行动。

已披露环境风险管理

A4: Climate Change

层面A4：气候变化

General DisclosurePolicies on identification and mitigation of significant climate-

related isues which have impacted, and those which may

impact, the isuer.

DisclosedClimate Change

一般披露识别及应对已经及可能会对发行人产生影响的重大气候相关事

宜的政策。

已披露气候变化

A4.1Description of the significant climate-related isues which

have impacted, and those which may impact, the isuer, and

the actions taken to manage them.

DisclosedClimate Change

关键绩效指标A4.1描述已经及可能会对发行人产生影响的重大气候相关事宜，及

应对行动。

已披露气候变化

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

KPIDescriptionDisclosed or notNote

指标香港联交所ESG报告指引要求是否披露章节╱备注

B.Social Aspect

B.社会

B1: Employment

层面B1：雇佣

General Disclosure

一般披露

Information on:

有关薪酬及解雇、招聘及晋升、工作时数、假期、平等机会、

多元化、反歧视以及其他待遇及福利的：

(a) the policies; and

(a) 政策；及

(b) compliance with relevant laws and regulations that have a

significant impact on the isuer relating to compensation and

dismisal, recruitment and promotion, working hours, rest

periods, equal oportunity, diversity, anti-discrimination, and

other benefits and welfare.

(b) 遵守对发行人有重大影响的相关法律及规例的资料。

Disclosed

已披露

B1. Employment

B1雇佣

B1.1Total workforce by gender, employment type, age group and

geographical region.

DisclosedB1. Employment

B1.1按性别、雇佣类型（如全职或兼职）、年龄组别及地区划分的雇

员总数。

已披露B1雇佣

B1.2Employe turnover rate by gender, age group and

geographical region.

DisclosedHuman Resource

Management

Mechanism

B1.2按性别、年龄组别及地区划分的雇员流失比率。已披露人力管理机制

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

KPIDescriptionDisclosed or notNote

指标香港联交所ESG报告指引要求是否披露章节╱备注

B2: Health and Safety

层面B2：健康与安全

General Disclosure

一般披露

Information on:

有关提供安全工作环境及保障雇员避免职业性危害的：

(a) the policies; and

(a) 政策；及

(b) compliance with relevant laws and regulations that have

a significant impact on the isuer relating to providing a

safe working environment and protecting employes from

ocupational hazards.

(b) 遵守对发行人有重大影响的相关法律及规例的资料。

Disclosed

已披露

B2. Health and

Safety

B2健康与安全

B2.1Number and rate of work-related fatalities ocured in each

of the past thre years including the reporting year.

DisclosedB2. Health and

Safety

B2.1过去三年（包括汇报年度）每年因工亡故的人数及比率。已披露B2健康与安全

B2.2Lost days due to work injury.DisclosedB2. Health and

Safety

B2.2因工伤损失工作日数。已披露B2健康与安全

B2.3Description of ocupational health and safety measures

adopted, and how they are implemented and monitored.

DisclosedB2. Health and

Safety

B2.3描述所采纳的职业健康与安全措施，以及相关执行及监察方

法。

已披露B2健康与安全

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

KPIDescriptionDisclosed or notNote

指标香港联交所ESG报告指引要求是否披露章节╱备注

B3: Development and Training

层面B3：发展及培训

General Disclosure

一般披露

Policies on improving employes’ knowledge and skils for

discharging duties at work. Description of training activities.

有关提升雇员履行工作职责的知识及技能的政策。描述培训活

动。

Note:

注：

Training refers to vocational training. It may include internal and external

courses paid by the employer.

培训指职业培训，可包括由雇主付费的内外部课程。

Disclosed

已披露

B3. Training and

Development

B3培训与发展

B3.1The percentage of employes trained by gender and

employe category (e.g. senior management, midle

management).

DisclosedB3. Training and

Development

B3.1按性别及雇员类别（如高级管理层、中级管理层）划分的受训雇

员百分比。

已披露B3培训与发展

B3.2The average training hours completed per employe by

gender and employe category.

DisclosedB3. Training and

Development

B3.2按性别及雇员类别划分，每名雇员完成受训的平均时数。已披露B3培训与发展

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

KPIDescriptionDisclosed or notNote

指标香港联交所ESG报告指引要求是否披露章节╱备注

B4: Labour Standards

层面B4：劳工准则

General Disclosure

一般披露

Information on:

有关防止童工或强制劳工的：

(a) the policies; and

(a) 政策；及

(b) compliance with relevant laws and regulations that have

a significant impact on the isuer relating to preventing child

and forced labour.

(b) 遵守对发行人有重大影响的相关法律及规例的资料。

Disclosed

已披露

B4. Labour

Standards

B4劳工准则

B4.1Description of measures to review employment practices to

avoid child and forced labour.

DisclosedB4. Labour

Standards

B4.1描述检讨招聘惯例的措施以避免童工及强制劳工。已披露B4劳工准则

B4.2Description of steps taken to eliminate such practices when

discovered.

DisclosedB4. Labour

Standards

B4.2描述在发现违规情况时消除有关情况所采取的步骤。已披露B4劳工准则

B5: Suply Chain Management

层面B5：供应链管理

General DisclosurePolicies on managing environmental and social risks of the

suply chain.

DisclosedB5. Suply Chain

Management

一般披露管理供应链的环境及社会风险政策。已披露B5供应商管理

B5.1Number of supliers by geographical region.DisclosedB5. Suply Chain

Management

B5.1按地区划分的供应商数目。已披露B5供应商管理

B5.2Description of practices relating to engaging supliers,

number of supliers where the practices are being

implemented, and how they are implemented and monitored.

DisclosedB5. Suply Chain

Management

B5.2描述有关聘用供应商的惯例，向其执行有关惯例的供应商数

目，以及相关执行及监察方法。

已披露B5供应商管理

B5.3Description of practices used to identify environmental

and social risks along the suply chain, and how they are

implemented and monitored.

DisclosedB5. Suply Chain

Management

B5.3描述有关识别供应链每个环节的环境及社会风险的惯例，以及

环境、社会及管治报告

KPIDescriptionDisclosed or notNote

指标香港联交所ESG报告指引要求是否披露章节╱备注

B6: Product Responsibility

层面B6：产品责任

General Disclosure

一般披露

Information on:

有关所提供产品和服务的健康与安全、广告、标签及私隐事宜

以及补救方法的：

(a) the policies; and

(a) 政策；及

(b) compliance with relevant laws and regulations that have a

significant impact on the isuer relating to health and safety,

advertising, labeling and privacy maters relating to products

and services provided and methods of redres.

(b) 遵守对发行人有重大影响的相关法律及规例的资料。

Disclosed

已披露

B6. Product

Responsibility

B6产品责任

B6.1Percentage of total products sold or shiped subject to

recals for safety and health reasons.

Not aplicableNot aplicable

B6.1已售或已运送产品总数中因安全与健康理由而须回收的百分

比。

不适用不适用

B6.2Number of products and service-related complaints received

and how they are dealt with.

DisclosedB6. Product

Responsibility

B6.2接获关于产品及服务的投诉数目以及应对方法。已披露B6产品责任

B6.3Description of practices relating to observing and protecting

intelectual property rights.

DisclosedB6. Product

Responsibility

B6.3描述与维护及保障知识产权有关的惯例。已披露B6产品责任

B6.4Description of quality asurance proces and recal

procedures.

DisclosedB6. Product

Responsibility

B6.4描述质量检定过程及产品回收程式。已披露B6产品责任

B6.5Description of consumer data protection and privacy policies,

and how they are implemented and monitored.

DisclosedB6. Product

Responsibility

B6.5描述消费者资料保障及私隐政策，以及相关执行及监察方法。已披露B6产品责任

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

KPIDescriptionDisclosed or notNote

指标香港联交所ESG报告指引要求是否披露章节╱备注

B7: Anti-coruption

层面B7：反贪污

General Disclosure

一般披露

Information on:

有关防止贿赂、勒索、欺诈及洗黑钱的：

(a) the policies; and

(a) 政策；及

(b) compliance with relevant laws and regulations that have a

significant impact on the isuer relating to bribery, extortion,

fraud and money laundering.

(b) 遵守对发行人有重大影响的相关法律及规例的资料。

Disclosed

已披露

B7. Anti-Coruption

B7反贪污

B7.1Number of concluded legal cases regarding corupt practices

brought against the isuer or its employes during the

reporting period and the outcomes of the cases.

DisclosedB7. Anti-Coruption

B7.1于汇报期内对发行人或其雇员提出并已审结的贪污诉讼案件的

数目及诉讼结果。

已披露B7反贪污

B7.2Description of preventive measures and whistle-blowing

procedures, and how they are implemented and monitored.

DisclosedAnti-Coruption and

Anti-Fraud

B7.2描述防范措施及举报程序，以及相关执行及监察方法。已披露反贪污及反舞弊

B7.3Description of anti-coruption training provided to directors

and staf.

DisclosedAnti-Coruption and

Anti-Fraud

B7.3描述向董事及员工提供的反贪污培训。已披露反贪污及反舞弊

B8: Comunity Investment

层面B8：社区投资

General DisclosurePolicies on comunity engagement to understand the

neds of the comunities where the isuer operates and to

ensure its activities take into consideration the comunities’

interests.

DisclosedB8. Comunity

Investment

一般披露有关以社区参与来了解营运所在社区需要和确保其业务活动会

考虑社区利益的政策。

已披露B8社区投资

B8.1Focus areas of contribution (e.g. education, environmental

concerns, labour neds, health, culture, sport).

DisclosedB8. Comunity

Investment

B8.1专注贡献范畴（如教育、环境事宜、劳工需求、健康、文化、

体育）。

已披露B8社区投资

B8.2Resources contributed (e.g. money or time) to the focus

area.

DisclosedB8. Comunity

Investment

B8.2在专注范畴所动用资源（如金钱或时间）。已披露B8社区投资

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS’ REPORT

董事会报告书

The Board would like to present the anual report and the Consolidated

Financial Statements for the Year.

PRINCIPAL BUSINES

The Company is an investment holding company and the principal

busines of its major subsidiaries is set out in note 1 to the financial

statements.

BUSINES REVIEW

A fair review of the Group’s busines as required under Schedule 5

to the Companies Ordinance (Cap. 622 of the Laws of Hong Kong),

including the Group’s performance analysis for the Year, particulars of

important events afecting the Group that have ocured since the end

of the Year, as wel as the posible future busines development of the

Group, are set out in the “Chairman’s Statement” on pages 5 to 8, in the

“Management Discusion and Analysis” on pages 9 to 21 and “Directors’

Report – Events After the End of the Year Under Review” on page 151.

Description of the Group’s principal risk and uncertainties is set out in the

paragraphs headed “Directors’ Responsibilities for Financial Statements”

on page 53 under the “Corporate Governance Report”. Discusions on

the environmental policies and performance, compliance by the Group

with the relevant laws and regulations that have a significant impact on

the Group and the acount of the key relationships of the Group with

its stakeholders are set out in the paragraphs headed “Compliance

with Relevant Laws and Regulations” and “Key Relationships with

Employes, Customers and Supliers” of this Director’s Report and the

“Environmental, Social and Governance Report” on pages 63 to 149 of

this anual report.

COMPLIANCE WITH RELEVANT LAWS AND

REGULATIONS

The Group complies with the requirements under the Companies

Ordinance, the Listing Rules and the Securities and Futures Ordinance

(the “SFO”) for the disclosure of information and corporate governance

and other laws and regulations which are relevant to the Group’s

busines operation.

董事会谨提呈本年度之年报及综合财务报表。

主要业务

本公司是投资控股公司，其主要附属公司的主要

业务已记载于财务报表附注1。

业务回顾

按公司条例（香港法例第622章）附表5规定之对

本集团业务之中肯审视，其中包括本集团于本年

度之表现分析、自本年度结束后发生并对本集团

有影响之重要事项详情，以及本集团日后可能出

现之业务发展，载于第5至8页之「主席报告」、

第9至21页之「管理层讨论及分析」及第151页之

「董事会报告书－回顾年度结束后事项」内。

本集团所面对主要风险及不明朗因素之描述载于

「企业管治报告」内第53页之「董事对财务报表须

承担的责任」各段内。有关环境政策及表现之讨

论、本集团遵守对其有重大影响之相关法律及规

例，以及本集团与其利益相关人士之主要关系

论述，载于本董事会报告书「遵守相关法例及规

例」及「与雇员、客户及供应商的主要关系」两段

以及本年报第63至149页之「环境、社会及管治

报告」内。

遵守相关法例及规例

本集团遵守公司条例、上市规则及证券及期货条

例（「证券及期货条例」）下有关资料披露及企业

管治以及其他与本集团业务运营有关的法律法规

的规定。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS’ REPORT

董事会报告书

RESULTS AND DIVIDENDS

The Group’s results and consolidated statement of financial position for

the Year are set out in the Consolidated Financial Statements on pages

185 to 191 of this anual report.

The Board recomended the payment of a final dividend of HK$0.5

per share for the year ended 31 March 2025 to the Shareholders

whose names apear on the register of members of the Company as at

Wednesday, 27 August 2025.

The payment of the proposed final dividend is subject to aproval

by Shareholders at the anual general meting for FY2025. The final

dividend is expected to be paid to the Shareholders on Friday, 12

September 2025.

EVENTS AFTER THE END OF THE YEAR

UNDER REVIEW

After the end of the Year under Review, the Company repurchased

2,897,000 shares on the Stock Exchange during the period from April

2025 to the date of this report. Folowing the period during which

share repurchases are prohibited as stipulated in the Listing Rules, the

Company wil ases market conditions to determine whether to proced

with share repurchases pursuant to the share buy-back mandate.

Save as disclosed above and in this anual report, the Directors are

not aware of any material events relating to the busines or financial

performance of the Group after the Year under Review and up to the

date of this report.

PROPERTY, PLANT AND EQUIPMENT

The changes in property, plant and equipment of the Group during the

Year are set out in note 13 to the financial statements.

DISTRIBUTABLE RESERVES

The distributable reserves of the Company as at 31 March 2025,

calculated in acordance with the Companies Act of the Cayman

Islands, amounted to aproximately RMB749,629,000 (31 March 2024:

aproximately RMB543,740,000), including retained profits and share

premium.

DONATIONS

During the year ended 31 March 2025, no charitable and other donations

were made by the Group (2024: HK$Nil).

PRE-EMPTIVE RIGHTS

There are no provisions for pre-emptive rights under the Articles of

Asociation or the laws of the Cayman Islands which would require

the Company to ofer new shares on a pro rata basis to existing

Shareholders.

业绩及股息

本集团于本年度的业绩及综合财务状况表，载于

本年报第185至191页之综合财务报表。

董事会建议向于二零二五年八月二十七日（星期

三）名列本公司股东名册的股东就截至二零二五

年三月三十一日止年度派发末期股息每股份

0.5港元。

建议末期股息须于二零二五年财年股东周年大会

上获股东批准后方可派付。末期股息预期于二零

二五年九月十二日（星期五）派付予股东。

回顾年度结束后事项

于回顾年度结束后，本公司于二零二五年四月

至本报告日期间在联交所购回2,897,000股

份。本公司于上市规则所规定之禁止股份回购期

间后，将评估市场情况以决定是否依据股份购回

授权进行股份回购。

除上述及本年报披露外，于回顾年度后及直至本

报告日期，董事并不知悉任何与本集团业务或财

务表现相关的重大事项。

物业、厂房及设备

本集团物业、厂房及设备于本年度内之变动，记

载于财务报表附注13。

可供分派储备

按开曼群岛公司法计算，本公司于二零二五年

三月三十一日的可分派储备约为人民币749,629

千元（二零二四年三月三十一日：约人民币

543,740千元），包括保留溢利和股份溢价。

捐献

截至二零二五年三月三十一日止年度，本集团并

无作出慈善或其他捐献（二零二四年：零港元）。

优先购买权

根据组织章程细则或开曼群岛法例，并无优先购

买权条文要求本公司向现有股东按比例提呈发售

新股份。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS’ REPORT

董事会报告书

SHARE CAPITAL

The details of changes in the share capital of the Company are set out in

note 26 to the financial statements.

DIRECTORS AND SERVICE AGREMENTS

Executive Directors

Dr. Tang Donglei (Chairman and Chief Executive Oficer)

Dr. Wang Xiaokun

(apointed on 25 June 2025)

Dr. Li Zequn

Non-executive Directors

Mr. Takao Nishijima

Ms. Mami Matsushita

Mr. Kenji Yoneyama

(resigned on 25 June 2025)

Mr. Shoichiro Haga

(apointed on 25 June 2025)

Independent Non-executive Directors

Mr. Kunimasa Ota

(apointed on 25 June 2025)

Dr. Satoshi Iwabuchi

Dr. Huang Ping

Mr. Tam Kin Bor

Dr. Wang Xiaokun, Mr. Shoichiro Haga and Mr. Kunimasa Ota, who

were apointed as an executive Director, a non-executive Director and

an independent non-executive Director, respectively during the Year,

obtained legal advice as refered to in Rule 3.09D of the Listing Rules

on 20 June 2025 and understod al the requirements under the Listing

Rules that are aplicable to them as directors of a listed isuer and the

posible consequences of making a false declaration or giving false

information to the Exchange, and have confirmed they understod their

obligations as directors of a listed isuer.

股本

本公司股本之变动详情记载于财务报表附注26。

董事及服务协议

执行董事

唐东雷博士（主席及行政总裁）

王晓坤博士

（于二零二五年六月二十五日获委任）

李泽群博士

非执行董事

西嶋尚生先生

松下真実女士

米山贤司先生

（于二零二五年六月二十五日辞任）

羽贺胜一郎先生

（于二零二五年六月二十五日获委任）

独立非执行董事

太田邦正先生

（于二零二五年六月二十五日获委任）

岩渕聡博士

黄平博士

谭建波先生

王晓坤博士、羽贺胜一郎先生和太田邦正先生于

本年度分别获委任为执行董事、非执行董事及独

立非执行董事，于二零二五年六月二十日取得上

市规则第3.09D条所述的法律意见，明白上市规

则中所有适用于其作为上市发行人董事的规定，

以及向本交易所作出虚假声明或提供虚假信息所

可能引致的后果，并已确认其了解其作为上市发

行人董事的责任。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS’ REPORT

董事会报告书

Details of Directors are set out under the section headed “Directors and

Senior Management” in this anual report.

The Company has entered into a service contract with each of the

executive Directors and non-executive Directors. The Company has also

entered into a leter of apointment with each of the independent non-

executive Directors. The terms of ofice of Dr. Tang Donglei, Mr. Takao

Nishijima, Ms. Mami Matsushita, Dr. Huang Ping and Mr. Tam Kin Bor

are thre years from 25 September 2017, while the term of ofice of

Dr. Li Zequn is thre years from 20 August 2018, the term of ofice of

Mr. Kenji Yoneyama and Dr. Satoshi Iwabuchi are thre years from 28

June 2023 and the term of ofice of Dr. Wang Xiaokun, Mr. Shoichiro

Haga and Mr. Kunimasa Ota are thre years from 25 June 2025. Such

apointments may only be terminated in acordance with the provisions

of the service contract or leter of apointment (as the case may be), or

by (i) the Company giving any Director not les than thre months’ prior

writen notice or (i) a Director giving the Company not les than one

month’s prior writen notice.

None of the Directors have entered into a service contract with the

Company which is not determinable by the Company within one

year without payment of compensation other than normal statutory

compensation.

Due to Mr. Kenji Yoneyama’s desire to devote more time to his other

busines comitments, Mr. Kenji Yoneyama has resigned from his

position as a non-executive Director with efect from 25 June 2025.

Mr. Kenji Yoneyama has confirmed that he has no disagrement with

the Board and there is no other mater that neds to be brought to the

atention of the Shareholders or the Stock Exchange in relation to his

resignation. Mr. Shoichiro Haga has ben apointed as a non-executive

Director with efect from 25 June 2025.

董事的详情载于本年报「董事及高级管理层」一

节。

本公司已与各执行董事及非执行董事订立服务合

约。本公司亦已与各独立非执行董事订立委任

函。唐东雷博士、西嶋尚生先生、松下真実女

士、黄平博士和谭建波先生的任期为二零一七年

九月二十五日起为期三年，李泽群博士的任期为

二零一八年八月二十日起为期三年，米山贤司先

生和岩渕聡博士的任期为二零二三年六月二十八

日起为期三年及王晓坤博士、羽贺胜一郎先生和

太田邦正先生的任期为二零二五年六月二十五

日起三年。该等委任仅可根据服务合约或委任

函（视乎情况而定）的条文终止，或透过(i)本公司

向任何董事发出不少于三个月事先书面通知或(i)

董事向本公司发出不少于一个月事先书面通知终

止。

董事中无人与本公司签订本公司于一年之内在无

赔偿（正常的法定赔偿除外）的情况下不可终止

的服务合约。

由于米山贤司先生欲投入更多时间予其他业务承

担，其已辞任非执行董事职务，于二零二五年六

月二十五日起生效。米山贤司先生已确认其与董

事会并无分歧，亦无有关其辞任之其他事宜需提

请股东或联交所关注。羽贺胜一郎先生已获委任

为非执行董事，于二零二五年六月二十五日起生

效。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS’ REPORT

董事会报告书

Pursuant to article 16.2 of the Articles of Asociation, Directors

apointed by the Board shal hold ofice only until the next folowing

general meting and shal be eligible for re-election. Acordingly, Dr.

Wang Xiaokun, Mr. Shoichiro Haga and Mr. Kunimasa Ota shal hold

ofice until the forthcoming general meting and, being eligible, ofer

themselves for re-election at the forthcoming general meting.

Pursuant to article 16.18 of the Articles of Asociation, at each anual

general meting, one-third of the Directors for the time being (or, if their

number is not a multiple of thre (3), the number nearest to but not les

than one-third) shal retire from ofice by rotation provided that every

Director (including those apointed for a specific term) shal be subject to

retirement by rotation at an anual general meting at least once every

thre years. Dr. Li Zequn, Mr. Takao Nishijima, Dr. Satoshi Iwabuchi and

Dr. Huang Ping wil retire and, being eligible, ofer themselves for re-

election at the forthcoming anual general meting of the Company.

The Company has received from al independent non-executive Directors

an anual confirmation in respect of their respective independence

pursuant to Rule 3.13 of the Listing Rules. Pursuant to these

confirmations, the Company considers al independent non-executive

Directors are independent.

根据组织章程细则第16.2条，董事会委任的董

事仅可任职至下届股东大会，但合资格可被重新

选举为董事。因此，王晓坤博士、羽贺胜一郎先

生和太田邦正先生将任职至下届股东大会，并合

资格且有意于下届股东大会上重选连任。

根据组织章程细则第16.18条，于各届股东周

年大会上，届时三分之一的董事（若董事人数并

非三(3)的倍数，则须为最接近但不少于三分之

一的董事人数）须轮流退任，前提是每一位董事

（包括有特定任期的董事）须至少每三年轮流退

任一次。李泽群博士、西嶋尚生先生、岩渕聡博

士和黄平博士将于下届本公司股东周年大会上退

任，并合资格且有意于下届股东周年大会上重选

连任。

本公司已接获所有独立非执行董事各自根据上市

规则第3.13条就独立性发出的年度确认函。根

据该等确认，本公司认为全体独立非执行董事均

属独立。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS’ REPORT

董事会报告书

INTERESTS AND SHORT POSITIONS OF

THE DIRECTORS AND CHIEF EXECUTIVE IN

THE SHARES, UNDERLYING SHARES AND

DEBENTURES OF THE COMPANY AND ITS

ASOCIATED CORPORATIONS

As at 31 March 2025, the interests and short positions of the Directors

and chief executive of the Company in the shares, underlying shares and

debentures of the Company or any of its asociated corporations (within

the meaning of Part XV of the SFO) which wil have to be notified to the

Company and the Stock Exchange pursuant to Divisions 7 and 8 of Part

XV of the SFO (including interests and short positions in which they are

taken or demed to have under such provisions of the SFO), or which

wil be required, pursuant to section 352 of the SFO, to be recorded in

the register maintained by the Company refered to therein, or which

wil be required, pursuant to the Model Code (the “Model Code”) for

Securities Transactions by Directors of Listed Isuers as set out in

Apendix C3 to the Listing Rules, to be notified to the Company and the

Stock Exchange, were as folows:

(I) The Company

董事及最高行政人员于本公司及

其相联法团的股份、相关股份及

债权证中拥有的权益及淡仓

于二零二五年三月三十一日，本公司董事及最高

行政人员于本公司或其任何相联法团（定义见证

券及期货条例第XV部）的股份、相关股份及债权

证中拥有根据证券及期货条例第XV部第7及8分

部须知会本公司及联交所的权益及淡仓（包括根

据证券及期货条例的有关规定计作或被视为拥有

的权益及淡仓），或根据证券及期货条例第352

条须记录于本公司根据该条例所存置的登记册的

权益及淡仓，或根据上市规则附录C3所载上市

发行人董事进行证券交易的标准守则（「标准守

则」）须知会本公司及联交所的权益及淡仓如下：

(I) 本公司

Name of

Director

董事姓名

Position

职位

Long/short

positions

好仓╱淡仓

Capacity

身份

Number of

shares held

所持股份数目

Note

附注

Percentage

of isued

占已发行股份

之百分比

Tang DongleiChairman, chief executive oficer and

executive Director

Long positionBeneficial owner550,00010.1445%

唐东雷主席及行政总裁兼执行董事好仓实益拥有人

Tang DongleiChairman, chief executive oficer and

executive Director

Long positionInterest of

spouse

150,00020.0394%

唐东雷主席及行政总裁兼执行董事好仓配偶的权益

Li ZequnExecutive DirectorLong positionBeneficial owner200,00030.0526%

李泽群执行董事好仓实益拥有人

Mami MatsushitaNon-executive DirectorLong positionBeneficial owner150,00040.0394%

松下真実非执行董事好仓实益拥有人

Kenji YoneyamaNon-executive DirectorLong positionBeneficial owner75,00050.0197%

米山贤司非执行董事好仓实益拥有人

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS’ REPORT

董事会报告书

Notes:

1. Including 150,000 shares and 400,000 unvested awarded shares directly

held by Dr. Tang Donglei in his personal capacity. Details of the awarded

shares are set out under the section headed “Share Award Scheme” in this

anual report.

2. Dr. Tang Donglei is demed to be interested in 150,000 shares by virtue

of his spouse’s interests. The 150,000 shares represent the interests in

unvested shares granted under the Share Award Scheme of the Company.

Details of the awarded shares are set out in the section headed “Share

Award Scheme” in this anual report.

3. This represents the 200,000 unvested awarded shares directly held by Dr.

Li Zequn in his personal capacity. Details of the awarded shares are set out

under the section headed “Share Award Scheme” in this anual report.

4. This represents the 150,000 unvested awarded shares directly held by Ms.

Mami Matsushita in her personal capacity. Details of the awarded shares

are set out under the section headed “Share Award Scheme” in this anual

report.

5. This represents the 75,000 unvested awarded shares held by Mr. Kenji

Yoneyama in his personal capacity. Details of the awarded shares are set

out under the section headed “Share Award Scheme” in this anual report.

附注：

,000股

股份及400,000股未归属奖励股份。奖励股份之详情

载于本年报「股份奖励计划」章节。

，故被视为拥有150,000

股份之权益。150,000股份乃指根据本公司股份

奖励计划所授出之未归属股份之权益。奖励股份之详

情载于本年报「股份奖励计划」章节。

,000股未

归属奖励股份。奖励股份之详情载于本年报「股份奖

励计划」章节。

,000股

未归属奖励股份。奖励股份之详情载于本年报「股份

奖励计划」章节。

,000股未归

属奖励股份。奖励股份之详情载于本年报「股份奖励

计划」章节。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS’ REPORT

董事会报告书

(I) Asociated corporation (within the meaning of Part

XV of the SFO) – Tsugami Japan

Notes:

1. This represents the shares beneficialy held by Dr. Tang Donglei in his

personal capacity.

2. This represents the shares beneficialy held by Mr. Takao Nishijima in his

personal capacity.

3. This represents the shares beneficialy held by Ms. Mami Matsushita in her

personal capacity.

4. This represents the shares beneficialy held by Mr. Kenji Yoneyama in his

personal capacity.

Except as disclosed above, as at 31 March 2025, none of the Directors

or chief executive of the Company was interested or demed to be

interested in the long and short positions in the shares, underlying shares

and/or debentures of the Company or any of its asociated corporations

(within the meaning of Part XV of the SFO), which wil be required to be (i)

notified to the Company and the Stock Exchange pursuant to Divisions

7 and 8 of Part XV of the SFO; or (i) recorded in the register maintained

by the Company as required pursuant to Section 352 of the SFO as

aforesaid; or (i) notified to the Company and the Stock Exchange

pursuant to the Model Code.

(I) 相联法团（定义见证券及期货条例第

XV部）－日本津上

Name of Director

董事姓名

Position

职位

Long/short

positions

好仓╱淡仓

Capacity

身份

Number of

shares held

in the

asociated

corporation

于相联法团

所持的股份数目

Note

附注

Percentage of

shareholding

in the

asociated

corporation

占相联法团的

股权百分比

Tang DongleiChairman, chief executive oficer

and executive Director

Long positionBeneficial owner39,00010.08125%

唐东雷主席及行政总裁兼执行董事好仓实益拥有人

Takao NishijimaNon-executive DirectorLong positionBeneficial owner414,00020.8625%

西嶋尚生非执行董事好仓实益拥有人

Mami MatsushitaNon-executive DirectorLong positionBeneficial owner115,90030.2414%

松下真実非执行董事好仓实益拥有人

Kenji YoneyamaNon-executive DirectorLong positionBeneficial owner29,70040.0618%

米山贤司非执行董事好仓实益拥有人

附注：

1. 指唐东雷博士以其个人身份实益持有的股

份。

2. 指西嶋尚生先生以其个人身份实益持有的股

份。

3. 指松下真実女士以其个人身份实益持有的股

份。

4. 指米山贤司先生以其个人身份实益持有的股

份。

除上文所披露者外，于二零二五年三月三十一

日，概无本公司董事或最高行政人员于本公司

或其任何相联法团（定义见证券及期货条例第XV

部）的股份、相关股份及╱或债权证的好仓及淡

仓中拥有或被视为拥有须(i)根据证券及期货条例

第XV部第7及8分部知会本公司及联交所；或(i)

如上所述根据证券及期货条例第352条的规定记

录于本公司存置的登记册；或(i)根据标准守则

知会本公司及联交所的权益。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS’ REPORT

董事会报告书

CHANGES IN INFORMATION OF DIRECTORS

AND CHIEF EXECUTIVE

Pursuant to Rule 13.51B(1) of the Listing Rules, the changes in

information of the Directors during the period from 1 October 2024 to

the date of this report are set out as folows:

Dr. Tang Donglei ceased to be a member of the Remuneration

Comite with efect from 25 June 2025.

Dr. Tang Donglei ceased to be a director of Precision Tsugami (Hong

Kong) Limited, and the chairman of each of Precision Tsugami (China)

Corporation, Shinagawa Precision Machinery (Zhejiang) Co., Ltd. and

Precision Tsugami (Anhui) Corporation from 25 June 2025.

Dr. Wang Xiaokun was apointed as an executive Director with efect

from 25 June 2025.

Dr. Li Zequn ceased to be a supervisor of Precision Tsugami (Anhui)

Corporation with efect from 25 June 2025.

Mr. Takao Nishijima ceased to be a member of the Nomination

Comite with efect from 25 June 2025.

Ms. Mami Matsushita was apointed as a member of the Nomination

Comite with efect from 25 June 2025.

Ms. Mami Matsushita ceased to be a supervisor of Shinagawa Precision

Machinery (Zhejiang) Co., Ltd. and a director of Precision Tsugami

(Anhui) Corporation with efect from 25 June 2025.

Mr. Kenji Yoneyama resigned as a non-executive Director and ceased to

be a member of the Audit Comite with efect from 25 June 2025.

Mr. Shoichiro Haga was apointed as a non-executive Director, a

member of the Audit Comite and a member of the Remuneration

Comite with efect from 25 June 2025.

Mr. Kunimasa Ota was apointed as an independent non-executive

Director with efect from 25 June 2025.

Dr. Satoshi Iwabuchi served as a dean of the Yokohama General

Hospital (横滨综合医院) since April 2025.

Save as disclosed above, as of the date of this report, there has ben

no change in the information of the Directors and the chief executive of

the Company required to be disclosed pursuant to Rule 13.51B(1) of the

Listing Rules.

董事及最高行政人员资料变动

根据上市规则第13.51B(1)条，于二零二四年十

月一日至本报告日期间，董事资料之变动载列

如下：

唐东雷博士不再担任薪酬委员会成员，自二零二

五年六月二十五日起生效。

唐东雷博士于二零二五年六月二十五日起不再担

任津上精密机床（香港）有限公司董事，津上精

密机床（浙江）有限公司董事长，浙江品川精密

机械有限公司董事长，安徽津上精密机床有限公

司董事长。

王晓坤博士获委任为执行董事，自二零二五年六

月二十五日起生效。

李泽群博士于二零二五年六月二十五日起不再担

任安徽津上精密机床有限公司的监事。

西嶋尚生先生不再担任提名委员会成员，自二零

二五年六月二十五日起生效。

松下真実女士获委任为提名委员会成员，自二零

二五年六月二十五日起生效。

松下真実女士于二零二五年六月二十五日起不再

担任浙江品川精密机械有限公司监事、安徽津上

精密机床有限公司董事。

米山贤司先生辞任非执行董事及不再担任审核委

员会成员，自二零二五年六月二十五日起生效。

羽贺胜一郎先生获委任为非执行董事、审核委员

会成员及薪酬委员会成员，自二零二五年六月二

十五日起生效。

太田邦正先生获委任为独立非执行董事，自二零

二五年六月二十五日起生效。

岩渕聡博士自二零二五年四月起，担任横滨综合

医院长。

除上文所披露者外，截至本报告日期，并无根据

上市规则第13.51B(1)条规定须予披露的董事及

本公司最高行政人员资料变动。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS’ REPORT

董事会报告书

SUBSTANTIAL SHAREHOLDERS’ INTERESTS

Substantial shareholders’ interests or short positions in the

shares and underlying shares of the Company

As at 31 March 2025, so far as any of the Directors or chief executive

of the Company were aware, the folowing persons/entities had, or were

demed to have, interests or short positions in the shares or underlying

shares of the Company, which wil have to be notified to the Company

and the Stock Exchange pursuant to provisions of Divisions 2 and 3 of

Part XV of the SFO or which ought to be recorded in the register of the

Company required to be kept under Section 336 of the SFO:

Note:

1. The 247,530,000 shares were beneficialy owned by Tsugami Japan.

Except as disclosed above, as at 31 March 2025, the Directors and

chief executive of the Company were not aware of any person/entity

(other than the Directors or chief executive of the Company) who had, or

demed to have, an interest or short position in the shares or underlying

shares of the Company which wil have to be notified to the Company

and the Stock Exchange pursuant to provisions of Divisions 2 and 3 of

Part XV of the SFO or which ought to be recorded in the register of the

Company required to be kept under Section 336 of the SFO.

SHARE OPTION SCHEME

During the period from 1 April 2024 to the date of this report, the

Company did not have any subsisting share option scheme.

主要股东权益

主要股东于本公司的股份及相关股份中拥

有的权益或淡仓

于二零二五年三月三十一日，就任何本公司董事

或最高行政人员所知，下列人士╱实体于本公

司股份或相关股份中拥有或被视作拥有根据证券

及期货条例第XV部第2及第3分部条文须知会本

公司及联交所或须列入本公司根据证券及期货

条例第336条须予存置的登记册的权益或淡仓如

下：

Name of substantial

shareholderLong/short positionsCapacity

Number of

sharesNote

Percentage of

isued shares

主要股东名称好仓╱淡仓身份股份数目附注占已发行股份之百分比

Tsugami JapanLong positionBeneficial owner247,530,000165.04%

日本津上好仓实益拥有人

附注：

,530,000股份为日本津上实益持有。

除上文所披露者外，于二零二五年三月三十一

日，本公司董事及最高行政人员概不知悉任何人

士╱实体（本公司董事或最高行政人员除外）于

本公司股份或相关股份中拥有或被视为拥有根据

证券及期货条例第XV部第2及3分部条文须知会

本公司及联交所或须列入本公司根据证券及期货

条例第336条须予存置的登记册的权益或淡仓。

购股权计划

于二零二四年四月一日至本报告日期间，本公

司并无任何存续的购股权计划。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS’ REPORT

董事会报告书

SHARE AWARD SCHEME

The Company has adopted the Share Award Scheme (the “Scheme”) on

10 November 2023 and the folowing is a sumary of the principal terms

of the Scheme:

(i) Purposes and Objectives

The purpose of the Scheme is to (i) recognise contributions

made by certain Eligible Participants and to provide the Eligible

Participants with incentives to, through their oportunity in

ownership of the equity interests in the Company and sharing of

the results of the Group’s strategic development, contribute to the

Group and increase the value of the Company and the Shares,

thereby benefiting the Company and the Shareholders as a whole;

and (i) retain talents and atract suitable personel for further

development of the Group. For the avoidance of doubt, this

Scheme does not preclude the Group from providing incentives to

any Eligible Participants by way of other benefits.

The Scheme does not involve granting awards that are to be

satisfied by isue of new shares.

(i) Eligible Participants

Eligible Participants under the Scheme includes any Employe

Participant, Related Entity Participant or Service Provider,

provided that the Board Comite shal have absolute discretion

to determine whether or not one fals within the above categories.

(i) Scheme Limit

The Board Comite shal not make any further Awards

that would result in the total number of the Awarded Shares

awarded and aproved by the Board Comite under the

Scheme (excluding the Awarded Shares that are rejected by

a Selected Participant or that have lapsed pursuant to the

Scheme) exceding 6% of the isued shares of the Company

as at the Adoption Date (i.e. exceding 22,848,240 shares),

and representing aproximately 6% of the isued shares of the

Company as at the date of this anual report.

Up to the date of this anual report, a total of 4,629,000 Shares

(excluding the Awarded Shares that are rejected by a Selected

Participant or that have lapsed pursuant to the Scheme) had ben

awarded under the Scheme. The total number of Shares available

for grant under the Scheme (including Awarded Shares that are

rejected by a Selected Participant or that have lapsed pursuant

to the Scheme) as at the date of this anual report is 18,219,240,

representing aproximately 4.85% of the isued shares of the

Company as at the date of this anual report. The maximum

number of Awarded Shares that may be awarded to any Selected

Participant under the Scheme shal not exced 1% of the isued

share capital of the Company as at the Adoption Date.

股份奖励计划

本公司已于二零二三年十一月十日采纳股份奖励

计划（「本计划」），以下为本计划主要条款的概

要：

(i) 目的及目标

本计划的目的是(i)认可若干合资格参与者

的贡献，并通过他们拥有本公司股权及

共享本集团战略发展成果的机会为合资

格参与者提供激励，为本集团作出贡献

并提高本公司及股份的价值，从而使本

公司及股东整体受益；及(i)为本集团的

进一步发展挽留人才及吸引合适人才。

为免生疑问，本计划并不妨碍本集团以

其他福利的方式向任何合资格参与者提

供激励。

本计划并不涉及授出将通过发行新股份

实现的奖励。

(i) 合资格参与者

本计划的合资格参与者包括任何雇员参

与者、关联实体参与者或服务供应商，

但董事会委员会可全权酌情厘定任何人

士是否属于上述类别。

(i) 计划上限

倘奖励会导致本计划项下董事会委员会

奖励及批准的奖励股份总数（不包括选定

参与者拒绝或根据本计划已失效的奖励

股份）超过本公司于采纳日期的已发行股

份的6%（即超过22,848,240股份），以

及相当于本公司于本年报日期已发行股

份的约6%，则董事会委员会不得再作出

奖励。

直至本年报日期，已根据本计划奖励共

计4,629,000股份（不包括选定参与

者拒绝或根据本计划已失效的奖励股

份）。于本年报日期，根据本计划可供

授出的股份总数（已计入选定参与者拒

绝或根据本计划已失效的奖励股份）为

18,219,240，相当于本公司于本年报日

期已发行股份的约4.85%。可根据本计划

奖励予任何选定参与者的奖励股份数目

上限不得超过本公司于采纳日期的已发

行股本1%。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS’ REPORT

董事会报告书

(iv) Duration and Termination

Unles terminated earlier by the Board Comite pursuant to the

Scheme Rules, the Scheme shal be valid and efective for a term

of ten (10) years comencing from the Adoption Date, after which

period, no further Awards shal be granted or acepted.

Upon termination, (i) al Awarded Shares and Related Income shal

become vested in the relevant Selected Participants on such date

of termination save in respect of lapse as refered in the Scheme

Rules; and (i) net sale proceds (after making apropriate

deductions) of the Returned Shares and such non-cash income

together with the Residual Cash and such other funds remaining

in the Trust shal be remited to the Company forthwith.

The remaining duration of the Scheme is aproximately 8.5 years.

(v) Vesting of Awarded Shares

Subject to the terms and conditions of the Scheme and the

fulfilment of al vesting conditions to the vesting of the Awarded

Shares on such Selected Participant as specified in the Scheme

and the relevant grant instrument, the respective Awarded

Shares held by the Truste on behalf of the Selected Participant

shal vest in such Selected Participant in acordance with the

aplicable vesting schedule, and the Truste shal cause the

Awarded Shares to be transfered to such Selected Participant in

acordance with the terms of the Scheme.

(vi) Amount Payable on Aceptance of Awards

Under the Scheme, no consideration or payment shal be made

by the Eligible Participants upon the aceptance of the Awards.

(vi) Vesting Conditions

The Awarded Shares wil vest in the grantes in acordance with

the terms of the Scheme. The vesting of the Awarded Shares is

conditional on the relevant grante being a director or employe

of the Group or, where aplicable, any related entity up to each

date of vesting and executing the relevant document to give efect

to the transfer of the Truste.

There is no minimum vesting period required under the Scheme.

The Board has the authority to determine the vesting period of the

Awarded Shares.

For further details, please refer to the Company’s anouncements

dated 10 November 2023, 11 March 2024 and 7 March 2025.

(iv) 年期及终止

除非董事会委员会根据计划规则提前终

止，否则本计划的有效期为采纳日期起

计十(10)年，该期间之后，不得再授出或

接受任何奖励。

终止后，(i)除计划规则所述的失效外，所

有奖励股份及相关收入应于终止日期归

属予相关选定参与者；及(i)退回股份的

出售所得款项净额（在作出适当扣除后）

及非现金收入连同剩余现金及信托中剩

余的其他资金应立即汇给本公司。

股份奖励计划之余下年期约为8.5年。

(v) 归属奖励股份

在遵守本计划的条款及条件以及达成本

计划及相关授出文书中指明对该选定参

与者施加的归属奖励股份的所有归属条

件的情况下，受托人代表选定参与者持

有的相应奖励股份应根据适用的归属时

间表归属予该选定参与者，受托人应根

据本计划的条款安排将奖励股份转让予

该选定参与者。

(vi) 接纳奖励须付的金额

根据本计划，合资格参与者于接纳奖励

时无须支付任何代价或作出付款。

(vi) 归属条件

奖励股份将根据本计划的条款归属予承

授人。奖励股份的归属条件为相关承授

人直至各归属日期当日一直为本集团或

（倘适用）任何关联实体的董事或雇员及

其签立相关文件使受托人的转让生效。

本计划未规定最短归属期。董事会有权

力厘定奖励股份的归属期。

有关进一步详情，请参阅本公司日期为

二零二三年十一月十日、二零二四年三

月十一日及二零二五年三月七日的公告。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS’ REPORT

董事会报告书

Further information of the awarded shares granted pursuant to the

Scheme is set out in note 27 to the financial statements and the

details of the movements of the awarded shares during the Year

are set out in the table as folows.

根据本计划授出的奖励股份的进一步资

料载列于财务报表附注27及奖励股份于

本年度的变动详情载于下表内。

Details of movements during the reporting period

于报告期间变动详情

Name or

category of

grante

承授人的

姓名或类别

Position/

Relationship

职位╱关系

Date of grant

授出日期

Date of vesting

归属日期

Unvested

as at the

begining

of the

reporting

period

于报告

期间开始

尚未归属

Granted

during the

reporting

period

于报告

期间授出

Vested

during the

reporting

period

于报告

期间归属

Lapsed

during the

reporting

period

于报告

期间失效

Canceled

during the

reporting

period

于报告

期间注销

Unvested

as at the

end of the

reporting

period

于报告

期间结束

尚未归属

Closing

price of

the shares

imediately

prior to the

date of grant

(HK$)

紧接授出

日期前股份

的收市价

（港元）

Fair value

of restricted

share units

as at the

date of

grant and

acounting

standards

and policies

adopted

(Note 1)

(HK$)

受限制股份

单位于授出

日期的公允

价值以及

所采纳的

会计准则及

政策

（附注1）

（港元）

Weighted

average

closing

price of

the shares

imediately

prior to

the date

of vesting

股份于紧接

归属日期前

的加权平均

收市价

Tang DongleiDirector11 March 202411 March 2027200,000–200,0009.299.29N/A

唐东雷董事二零二四年

三月十一日

二零二七年

三月十一日

200,000–200,0009.299.29不适用

7 March 20257 March 2028–200,000–200,00021.6520.5N/A

二零二五年

三月七日

二零二八年

三月七日

–200,000–200,00021.6520.5不适用

Wang XiaojunDirector’s spouse11 March 202411 March 202775,000–75,0009.299.29N/A

王晓珺董事配偶二零二四年

三月十一日

二零二七年

三月十一日

75,000–75,0009.299.29不适用

7 March 20257 March 2028–75,000–75,00021.6520.5N/A

二零二五年

三月七日

二零二八年

三月七日

–75,000–75,00021.6520.5不适用

Li ZequnDirector11 March 202411 March 2027100,000–100,0009.299.29N/A

李泽群董事二零二四年

三月十一日

二零二七年

三月十一日

100,000–100,0009.299.29不适用

7 March 20257 March 2028–100,000–100,00021.6520.5N/A

二零二五年

三月七日

二零二八年

三月七日

–100,000–100,00021.6520.5不适用

Mami

Matsushita

Director11 March 202411 March 202775,000–75,0009.299.29N/A

松下真実董事二零二四年

三月十一日

二零二七年

三月十一日

75,000–75,0009.299.29不适用

7 March 20257 March 2028–75,000–75,00021.6520.5N/A

二零二五年

三月七日

二零二八年

三月七日

–75,000–75,00021.6520.5不适用

Kenji YoneyamaDirector11 March 202411 March 202775,000–75,0009.299.29N/A

米山贤司董事二零二四年

三月十一日

二零二七年

三月十一日

75,000–75,0009.299.29不适用

Thre grantesThre other highest

paid individuals during

the Year

(Note 2)

11 March 202411 March 2027375,000–375,0009.299.29N/A

3名承授人年内总薪酬最高

其他三名个人

（附注2）

二零二四年

三月十一日

二零二七年

三月十一日

375,000–375,0009.299.29不适用

7 March 20257 March 2028350,000350,00021.6520.5N/A

二零二五年

三月七日

二零二八年

三月七日

350,000350,00021.6520.5不适用

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS’ REPORT

董事会报告书

Details of movements during the reporting period

于报告期间变动详情

Name or

category of

grante

承授人的

姓名或类别

Position/

Relationship

职位╱关系

Date of grant

授出日期

Date of vesting

归属日期

Unvested

as at the

begining

of the

reporting

period

于报告

期间开始

尚未归属

Granted

during the

reporting

period

于报告

期间授出

Vested

during the

reporting

period

于报告

期间归属

Lapsed

during the

reporting

period

于报告

期间失效

Canceled

during the

reporting

period

于报告

期间注销

Unvested

as at the

end of the

reporting

period

于报告

期间结束

尚未归属

Closing

price of

the shares

imediately

prior to the

date of grant

(HK$)

紧接授出

日期前股份

的收市价

（港元）

Fair value

of restricted

share units

as at the

date of

grant and

acounting

standards

and policies

adopted

(Note 1)

(HK$)

受限制股份

单位于授出

日期的公允

价值以及

所采纳的

会计准则及

政策

（附注1）

（港元）

Weighted

average

closing

price of

the shares

imediately

prior to

the date

of vesting

股份于紧接

归属日期前

的加权平均

收市价

Twenty-one

grantes

Other employes

of the Group

11 March 202411 March 20271,175,000–1,175,0009.299.29N/A

21名承授人本集团其他雇员二零二四年

三月十一日

二零二七年

三月十一日

1,175,000–1,175,0009.299.29不适用

Fifty grantesOther employes

of the Group

7 March 20257 March 2028–1,529,000–1,529,00021.6520.5N/A

50名承授人本集团其他雇员二零二五年

三月七日

二零二八年

三月七日

–1,529,000–1,529,00021.6520.5不适用

Two grantesRelated entity

participants

11 March 202411 March 2027150,000–150,0009.299.29N/A

2名承授人关联实体参与者二零二四年

三月十一日

二零二七年

三月十一日

150,000–150,0009.299.29不适用

One granteRelated entity

participant

7 March 20257 March 2028–75,000–75,00021.6520.5N/A

1名承授人关联实体参与者二零二五年

三月七日

二零二八年

三月七日

–75,000–75,00021.6520.5不适用

Total2,225,0002,404,000–4,629,000

总计2,225,0002,404,000–4,629,000

附注：

(1) 奖励股份的公允价值是根据授予日的可观察

市场价格计量的。请参阅「财务报表附注」

附注27。

，总薪酬最高的五名个人包括

唐东雷博士和李泽群博士，其获授奖励股份

详情如上表。

(3) 截至二零二四年四月一日及二零二五年三月

三十一日，可根据计划授出的股份奖励数目

分别为20,623,240及18,219,240。

Notes:

(1) The fair value of the awarded shares is measured based on the observable

market price on the date of grant. Se note 27 to “Notes to Financial

Statements”.

, the five highest paid individuals included Dr. Tang

Donglei and Dr. Li Zequn, and details of the awarded shares granted to

them are set out in the table above.

, the number of share awards

available for grant under the Scheme was 20,623,240 and 18,219,240,

respectively.

(4) The purchase price of such share awards is nil.

(5) The awarded shares granted are without any performance targets.

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS’ REPORT

董事会报告书

EQUITY-LINKED AGREMENTS

No equity-linked agrements that wil or may result in the Company

isuing Shares or that require the Company to enter into any agrement

that wil or may result in the Company isuing Shares were entered into

by the Company during the Year and subsisted at the end of the Year.

DIRECTORS’ AND CONTROLING

SHAREHOLDER’S INTERESTS IN

TRANSACTIONS, ARANGEMENTS OR

CONTRACTS OF SIGNIFICANCE

Save for the disclosures under note 31 to the financial statements

and the section headed “Directors’ Report – Continuing Conected

Transactions”, no transactions, arangements or contracts of significance

to which the Company, its holding company, or any of its subsidiaries

was a party and in which a Director or the Controling Shareholder or an

entity conected with them had a material interest, whether directly or

indirectly, subsisted during or at the end of the Year.

PERMITED INDEMNITY PROVISION

Pursuant to the requirements of the Articles of Asociation and subject

to aplicable laws, every Director is entitled to be indemnified out of

the asets of the Company against al loses or liabilities which he/she

may sustain or incur in or about the execution of duties of his/her ofice

or otherwise in relation thereto provided that such indemnity shal not

extend to any mater in respect of fraud or dishonesty which may atach

to the Director. Such permited indemnity provision is curently in force

and has become efective during the Year.

DIRECTORS’ RIGHTS TO ACQUIRE SHARES

OR DEBENTURES

Save as disclosed above, at no time during the Year was the Company,

its holding company, or any of its subsidiaries or felow subsidiaries a

party to any arangement to enable the Directors or chief executives of

the Company or their respective spouses or children under 18 years of

age or their asociates to acquire benefits by means of the acquisition of

shares in, or debentures of, the Company or any other corporate.

股本挂钩协议

本公司于本年度并无订立且于本年度结束时并无

存在任何股本挂钩协议将或可能导致本公司发行

股份，或需要本公司订立任何将会或可能导致本

公司发行股份的协议。

董事及控股东于重大交易、安

排或合约中的权益

除财务报表附注31及「董事会报告书－持续关

连交易」一节所披露者外，本公司、其控股公司

或其任何附属公司概无订立董事或本公司控股

东或与彼等有关连的实体于其中直接或间接拥有

重大权益、且于本年度内或本年度结束时仍然存

续的重大交易、安排或合约。

获准许之弥偿条文

根据组织章程细则规定及受限于适用法律，各董

事有权就履行其职务或在履行其职务方面或在其

他有关方面可能蒙受或招致之所有损失或责任从

本公司之资产中获取弥偿，惟有关弥偿不得为与

所述董事本身的任何欺诈或不诚实事宜有关。该

获准许之弥补条文目前生效及已于本年度内生

效。

董事收购股份或债券的权利

除上文所披露者外，本公司、其控股公司或其任

何附属公司或同系附属公司均无于本年度内任何

时间作出安排，致使本公司董事或主要行政人员

或彼等各自之配偶或未满18岁之子女或彼等之

联系人可藉购入本公司或任何其他法人团体之股

份或债权证而得益。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS’ REPORT

董事会报告书

持续关连交易

日本津上为本公司之控股东，实益拥有本公司

股本中已发行股份约65.88%。因此，根据上市

规则第十四A章，日本津上及其附属公司（本集

团除外）（「日本津上集团」）于本报告日期为本公

司之关连人士。

于本年度内，根据上市规则第十四A章的规定，

本公司与日本津上集团所进行的下列交易构成本

公司的不获豁免的持续关连交易。

(1) 技术许可协议

本公司与日本津上于二零一七年九月四

日订立了技术许可协议，据此，日本津

上同意不可撤销地授予本公司(i)使用制造

本公司的数控高精密机床所需技术及提

供与该等产品有关的售后服务的独家许

可及(i)于中国、香港及台湾使用该等商

标的权利（作为唯一获许可方）以及在任

何地区（不包括中国、香港和台湾）使用

该等商标的非独家许可。

技术许可协议期限自二零一七年九月二

十五日起至二零二零年三月三十一日止

为期三年，随后分别自二零二零年四月

一日及二零二三年四月一日起重续连续

两期，每期三年。因此，技术许可协议

将于二零二六年三月三十一日届满。技

术许可协议之条款自二零一七年九月四

日订立起并无任何变动。技术许可协议

的续期及有关年度上限详情载于本公司

日期为二零二年六月二十七日之公告

及二零二年七月十八日之通函。

视乎本公司数控高精密机床的型号而

定，应付日本津上的该等商标及该技术

许可费应根据1.0%或5.0%的特许权使用

费率乘以该等型号数控高精密机床的销

售总额（不包括税项及其他杂项成本及开

支）计算。

日本津上将收取的售后服务费将按每日

费率约46,000日圆乘以日本津上员工

作日的总数计算。

CONTINUING CONECTED TRANSACTIONS

Tsugami Japan is the Controling Shareholder and beneficialy owns

aproximately 65.88% of the isued share capital of the Company.

Therefore, as at the date of this report, Tsugami Japan and its

subsidiaries (other than the Group) (“Tsugami Japan Group”) are

conected persons of the Company under Chapter 14A of the Listing

Rules.

During the Year, the folowing transactions betwen the Company and

Tsugami Japan Group constitute non-exempt continuing conected

transactions for the Company under Chapter 14A of the Listing Rules.

(1) Technology Licence Agrement

The Company entered into the Technology Licence Agrement

on 4 September 2017 with Tsugami Japan, pursuant to which,

Tsugami Japan agred to irevocably grant to the Company (i)

an exclusive licence to use the technology necesary for the

manufacture of the Company’s CNC high precision machine

tols and to provide after-sales services in conection with

these products and (i) as the sole license, the right to use the

trademarks in the PRC, Hong Kong and Taiwan, and a non-

exclusive licence to use the trademarks in any regions (excluding

the PRC, Hong Kong and Taiwan).

The Technology Licence Agrement is for a term of thre years

comencing from 25 September 2017 to 31 March 2020,

which was subsequently renewed for two sucesive periods

of thre years each comencing from 1 April 2020 and 1 April

2023, respectively. As such, the Technology Licence Agrement

wil expire on 31 March 2026. There were no changes to the

terms of the Technology Licence Agrement with efect from

4 September 2017. Details of the renewal of the Technology

License Agrement and relevant anual caps were set out in

the Company’s anouncement dated 27 June 2022 and circular

dated 18 July 2022.

Depending on the models of the CNC high precision machine

tols of the Company, the trademarks and technology licence

fes payable to Tsugami Japan shal be calculated based on a

royalty rate of 1.0% or 5.0% multiplied by the total sales of such

models of CNC high precision machine tols (excluding tax and

other miscelaneous costs and charges).

The aftersales services fes to be charged by Tsugami Japan

wil be determined based on the daily rate of aproximately

JPY46,000 multiplied by the total number of working days of the

staf of Tsugami Japan.

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS’ REPORT

董事会报告书

(2) 总销售协议

本公司与日本津上于二零一七年九月四

日订立了总销售协议，据此，本公司向

日本津上集团销售数控高精密机床。

总销售协议期限自二零一七年九月二十

五日起至二零二零年三月三十一日止为

期三年，随后分别自二零二零年四月一

日及二零二三年四月一日起重续连续两

期，每期三年。因此，总销售协议将于

二零二六年三月三十一日届满。总销售

协议之条款自二零一七年九月四日订立

起并无任何变动。总销售协议的续期及

有关年度上限详情载于本公司日期为二

零二年六月二十七日之公告及二零二

二年七月十八日之通函。

总销售协议项下拟进行的交易将在本集

团及日本津上集团的日常及一般业务过

程中，按照属公平合理且符合本集团及

股东整体利益的一般商业条款或更佳的

条款进行。总销售协议项下各最终协议

的代价将根据向独立第三方提供的类似

产品厘定。

本公司销售其数控高精密机床（不论会否

进一步订制）予日本津上集团。于厘定

销售予日本津上集团的数控高精密机床

之售价时，本公司将考虑数控高精密机

床作出各种规格及╱或订制的水平、时

间、所需能力、购买量、交付时程，以

及是否需要销售及市场推广、售后服务

及技术支持服务等因素。概无因日本津

上集团为本公司之关连人士而将向日本

津上集团提供任何特别折让。经计及上

述因素，本公司将提供一份报价，其将

可与至少两项独立第三方客户于同期进

行的交易相比较。

(2) Master Sales Agrement

The Company entered into the Master Sales Agrement on 4

September 2017 with Tsugami Japan, pursuant to which, the

Company sels CNC high precision machine tols to the Tsugami

Japan Group.

The Master Sales Agrement is for a term of thre years

comencing from 25 September 2017 to 31 March 2020, which

was subsequently renewed for two sucesive periods of thre

years each comencing from 1 April 2020 and 1 April 2023,

respectively. As such, the Master Sales Agrement wil expire

on 31 March 2026. There were no changes to the terms of the

Master Sales Agrement with efect from 4 September 2017.

Details of the renewal of the Master Sales Agrement and relevant

anual caps were set out in the Company’s anouncement dated

27 June 2022 and circular dated 18 July 2022.

The transactions contemplated under the Master Sales Agrement

wil be conducted in the ordinary and usual course of busines

of the Group and that of the Tsugami Japan Group on normal

comercial terms or beter and on terms which are fair and

reasonable and in the interests of the Group and its Shareholders

as a whole. The consideration in respect of each definitive

agrement under the Master Sales Agrement wil be determined

in line with similar products provided to the independent third

parties.

The Company sold its CNC high precision machine tols,

with or without customisations, to the Tsugami Japan Group.

In determining the seling prices of the CNC high precision

machine tols sold to the Tsugami Japan Group, the Company

wil consider factors including the level of customisations,

time and efort required for making various specifications and/

or customisations to the CNC high precision machine tols,

purchase quantity, the delivery schedule, whether sales and

marketing, aftersales services and technical suport services are

neded, etc. No special discount wil be ofered to the Tsugami

Japan Group by virtue of the fact that the Tsugami Japan Group

is a conected person of the Company. After taking into acount

the above factors, the Company wil provide a quotation which is

comparable to at least two transactions with independent third

party customers for the same period.

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS’ REPORT

董事会报告书

(3) 总采购协议

本公司与日本津上于二零一七年九月四

日订立了总采购协议，据此，本公司可

采购日本津上集团制造的零部件（包括透

过日本津上采购的有关数控系统面板的

相关保修成本）、生产机器及设备以及数

控高精密机床。

总采购协议期限自二零一七年九月二十

五日起至二零二零年三月三十一日止为

期三年，随后分别自二零二零年四月一

日及二零二三年四月一日起重续连续两

期，每期三年。因此，总采购协议将于

二零二六年三月三十一日届满。总采购

协议之条款自二零一七年九月四日订立

起并无任何变动。总采购协议的续期及

有关年度上限详情载于本公司日期为二

零二年六月二十七日之公告及二零二

二年七月十八日之通函。

总采购协议项下拟进行的交易将在本集

团及日本津上集团的日常及一般业务过

程中，按照属公平合理且符合本集团及

股东整体利益的一般商业条款或更佳的

条款进行。

就由独立第三方供应商制造但向日本津

上集团采购的零部件（包括第三方部件及

已售或将售往海外（包括台湾）的数控高

精密机床的数控系统面板）而言，该等产

品按日本津上集团自独立第三方供应商

采购该等产品产生的成本（另加若干手续

费及行政费用）出售予本公司。

(3) Master Purchase Agrement

The Company entered into the Master Purchase Agrement on

4 September 2017 with Tsugami Japan, pursuant to which, the

Company may procure parts and components (including the

relevant waranty costs in relation to the CNC system panels

procured through Tsugami Japan), production machinery and

equipment, and CNC high precision machine tols manufactured

by the Tsugami Japan Group.

The Master Purchase Agrement is for a term of thre years

comencing from 25 September 2017 to 31 March 2020, which

was subsequently renewed for two sucesive periods of thre

years each comencing from 1 April 2020 and 1 April 2023,

respectively. As such, the Master Purchase Agrement wil expire

on 31 March 2026. There were no changes to the terms of

the Master Purchase Agrement with efect from 4 September

2017. Details of the renewal of the Master Purchase Agrement

and relevant anual caps were set out in the Company’s

anouncement dated 27 June 2022 and circular dated 18 July

2022.

The transactions contemplated under the Master Purchase

Agrement wil be conducted in the ordinary and usual course

of busines of the Group and that of the Tsugami Japan Group,

on normal comercial terms or beter and on terms which are

fair and reasonable and in the interests of the Group and its

Shareholders as a whole.

In respect of the parts and components which are manufactured

by the independent third party supliers but procured from the

Tsugami Japan Group (including the third-party components and

CNC system panels for the CNC high precision machine tols

sold or to be sold overseas (including in Taiwan), such products

are sold to the Company at cost incured by the Tsugami Japan

Group in purchasing such products from the independent third

party supliers plus certain handling and administrative charges.

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS’ REPORT

董事会报告书

就日本津上集团应本公司需要所制造及

特别设计的零部件、生产机器及设备以

及数控高精密机床而言，该等产品按日

本津上集团开发及制造该等产品产生的

成本（另加若干手续费及行政费用）出售

予本公司。

下表记载该等持续关连交易于本年度的年度上限

和实际概约总交易金额。

No.

序号

Continuing conected transactions

持续关连交易

Anual caps

年度上限

Aproximate

total actual

transaction

amounts

实际概约

总交易金额

(RMB’000)(RMB’000)

（人民币千元）（人民币千元）

1Technology Licence Agrement

技术许可协议

398,000185,937

2Master Sales Agrement

总销售协议

2,376,000452,139

3Master Purchase Agrement

总采购协议

1,077,000109,361

有关该等持续关连交易之详情，请参阅本公司日

期为二零二年六月二十七日之公告及二零二

年七月十八日之通函。

根据上市规则第14A.55条，本公司独立非执行

董事已审核上述持续关连交易并确认上述持续关

连交易是(i)在本集团的一般及日常业务中订立；

(i)按照一般商务条款进行；及(i)根据有关交易

的协议进行，条款公平合理，并且符合本公司及

股东的整体利益。于厘定上文本年度进行之交易

的价格及条款时，本公司已遵守定价指引及已采

纳内部控制措施（详情请参阅有关各项交易之通

函）。

In respect of the parts and components, production machinery

and equipment and CNC high precision machine tols which

are manufactured and uniquely designed for the Company’s

neds by the Tsugami Japan Group, such products are sold

to the Company at cost incured by the Tsugami Japan Group

in developing and manufacturing such products plus certain

handling and administrative charges.

The folowing table sets out the anual caps and aproximate total actual

transaction amounts during the Year in respect of these continuing

conected transactions.

For details of these continuing conected transactions, please refer to

the Company’s anouncement dated 27 June 2022 and circular dated

18 July 2022.

Pursuant to Rule 14A.55 of the Listing Rules, the independent non-

executive Directors of the Company have reviewed the above continuing

conection transactions and confirmed that the above continuing

conected transactions are (i) entered into in the ordinary and usual

course of busines of the Group; (i) conducted on normal comercial

terms; and (i) conducted pursuant to the agrements governing the

relevant transactions on terms which are fair and reasonable and in

the interests of the Company and its Shareholders as a whole. In

determining the prices and terms of the above transactions conducted

during the Year, the Company has complied with the pricing guidelines

and adopted internal control measures (please refer to the circular in

relation to the respective transactions for details).

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS’ REPORT

董事会报告书

本公司核数师已获本集团委聘按照香港会计师公

会颁布之香港核证工作准则第3000号（修订本）

「审计或审阅历史财务资料以外的核证工作」之

规定，并参照实务说明第740号「关于香港上市

规则所述持续关连交易的核数师函件」，就本公

司之持续关连交易提交报告。根据上市规则第

14A.71(6)(b)条，董事会确认本公司核数师安永

会计师事务所已发出致董事会函件，其中包括，

根据上市规则第14A.56条就本公司于上文披露

的持续关连交易发出确认函。即：

a. 彼等没有注意到任何事项使彼等相信持

续关联交易未经董事会批准；

b. 对于涉及本公司提供商品或服务的交

易，彼等没有注意到任何事项使彼等相

信这些交易在任何重大方面不符合本公

司的定价政策；

，使彼等相信

交易在任何重大方面没有按照管理此类

交易的相关协议进行；及

，彼等

没有注意到任何事项使彼等相信持续关

连交易已超过本公司设定的年度上限。

关联方交易

本集团截至二零二五年三月三十一日止年度的关

联方交易详情载于财务报表附注31。

财务报表附注31(b)所披露的关联方交易构成上

市规则第十四A章界定的持续关连交易，故须遵

守上市规则第十四A章的披露规定。

The Company’s auditor was engaged by the Group to report on the

Company’s continuing conected transactions in acordance with

the Hong Kong Standard on Asurance Engagements 3000 (Revised)

“Asurance Engagements Other Than Audits or Reviews of Historical

Financial Information” and with reference to Practice Note 740 “Auditor’s

Leter on Continuing Conected Transactions under the Hong Kong

Listing Rules” isued by the Hong Kong Institute of Certified Public

Acountants. Pursuant to Rule 14A.71(6)(b) of the Listing Rules, the

Board confirms that the Company’s auditor, Ernst & Young, has isued a

leter to the Board, among other things, giving its confirmation in respect

of the continuing conected transactions disclosed by the Company

above in acordance with Rule 14A.56 of the Listing Rules, that:

a. nothing has come to their atention that causes them to believe

that the continuing conected transactions have not ben

aproved by the Board;

b. for transactions involving the provision of gods or services by the

Company, nothing has come to their atention that causes them

to believe that the transactions were not, in al material respects,

in acordance with the pricing policies of the Company;

c. nothing has come to their atention that causes them to believe

that the transactions were not entered into, in al material

respects, in acordance with the relevant agrements governing

such transactions; and

d. with respect to the agregate amount of each of the continuing

conected transactions, nothing has come to their atention that

causes them to believe that the continuing conected transactions

have exceded the anual cap as set by the Company.

RELATED PARTY TRANSACTIONS

The details of the related party transactions of the Group for the year

ended 31 March 2025 are set out in note 31 to the financial statements.

The related party transactions disclosed in note 31(b) to the financial

statements constitute continuing conected transactions as defined

under Chapter 14A of the Listing Rules and are therefore subject to the

disclosure requirements under Chapter 14A of the Listing Rules.

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS’ REPORT

董事会报告书

根据上市规则第十四A章，财务报表附注31(c)及

(d)所披露的关联方交易并不视为关连交易或持

续关连交易。

于本年度内，在本集团之关联方交易构成上市规

则所界定之关连交易或持续关连交易之情况下，

本公司已遵守上市规则第十四A章之相关披露规

定。

购买、出售或赎回本公司上市证

券

于回顾年度，本公司于联交所购回合共

1,982,000股份（「股份购回」）。其后，本公

司继续于二零二五年四月至七月于联交所购回

2,897,000股份。所有购回股份均于二零二五

年七月十六日注销。股份购回详情如下：

Month of repurchase

Number

of shares

repurchasedPrice per share

Agregate

price

购回月份购回股份数目每股价格总价格

HighestLowest

(excluding

comision

fe, etc.)

最高最低（扣除佣金等）

HK$HK$HK$

港元港元港元

February 2025

二零二五年二月756,00017.6012.2211,976,540

March 2025

二零二五年三月1,226,00022.4017.9425,428,310

Total

总计1,982,00037,404,850

Pursuant to Chapter 14A of the Listing Rules, the related party

transactions disclosed in note 31(c) and (d) to the financial statements

are not demed as conected transactions or continuing conected

transactions.

During the Year, the Company has complied with the relevant disclosure

requirements under Chapter 14A of the Listing Rules in the event that

the related party transactions of the Group constitute the conected

transactions or continuing conected transactions as defined under the

Listing Rules.

PURCHASE, SALE OR REDEMPTION OF THE

LISTED SECURITIES OF THE COMPANY

During the Year under Review, the Company repurchased a total of

1,982,000 shares on the Stock Exchange (the “Share Repurchase”).

Subsequently, the Company continued to repurchase 2,897,000 shares

on the Stock Exchange from April to July 2025. Al shares repurchased

were canceled on 16 July 2025. Details of the Share Repurchase are as

folows:

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS’ REPORT

董事会报告书

董事会相信，视乎当时市况及资金安排，股份购

回可提升每股份盈利，对本公司及股东有利。

除上文披露外，于本年度，本公司或其任何附属

公司概无购买、销售或购回本公司任何上市证

券，亦无销售本公司任何库存股。

主要客户及供应商

截至二零二五年三月三十一日止年度内，本集团

与主要供应商及客户的交易详情如下：

本年度，本集团五大客户占本集团总收入约

24.21%（二零二四年：26.49%），而本年度最

大客户占本集团收入约10.61%（二零二四年：

15.15%）。

本年度，本集团五大供应商占本集团总采购额约

40.92%（二零二四年：40.07%），而本年度最

大供应商占本集团总采购额约18.88%（二零二

四年：12.82%）。

本年度，本集团的最大客户是日本津上集团，最

大供应商是北京发那科机电有限公司。

据本公司董事所知，除日本津上集团（其为本公

司的关连人士）外，本公司的董事及╱或其各自

紧密联系人或拥有本公司已发行股份数目5%以

上的现有股东于本年度并无于五大客户或供应商

中拥有任何权益。

The Board believes that the Share Repurchase may, depending on

market conditions and funding arangements at that time, lead to an

enhancement of its earning per share, and wil benefit the Company and

the Shareholders.

Save as disclosed above, there was no purchase, sale and repurchase

of the listed securities of the Company by the Company or any of its

subsidiaries, nor were there any sales of treasury shares of the Company

during the Year.

MAJOR CUSTOMERS AND SUPLIERS

During the year ended 31 March 2025, the details of the transactions

betwen the Group and its major supliers and customers are as

folows:

During the Year, the revenue from the top five customers of the Group

acounted for aproximately 24.21% of the total revenue of the Group

(2024: 26.49%), while the revenue from the largest customer during the

Year acounted for aproximately 10.61% of the revenue of the Group

(2024: 15.15%).

During the Year, the purchases from the top five supliers of the Group

acounted for aproximately 40.92% of the total purchases of the Group

(2024: 40.07%), while the purchases from the largest suplier during the

Year acounted for aproximately 18.88% of the total purchases of the

Group (2024: 12.82%).

During the Year, the largest customer of the Group was Tsugami Japan

Group and its largest suplier is Beijing FANUC Co., Ltd.

To the best knowledge of the Directors of the Company, except for

Tsugami Japan Group, which is a conected person of the Company,

none of the Directors of the Company and/or their respective close

asociates, or any existing Shareholders who owned more than 5% of

the number of isued shares of the Company, had any interest in any of

the top five customers or supliers during the Year.

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS’ REPORT

董事会报告书

雇员

于二零二五年三月三十一日，本集团共有雇员

2,399名（二零二四年：2,131名）。下表为按照

职责划分的本集团雇员明细：

As at

31 March 2025

于

二零二五年

三月三十一日

Management管理层89名

Finance财务12名

Procurement采购16名

Technology技术281名

Customer service客服259名

Quality verification品证31名

Operation营业105名

Manufacture制造1,295名

Administration管理45名

Shinagawa Precision品川精密68名

Precision Tsugami Anhui安徽津上198名

Total总计2,399名

于本年度的总员工成本约为人民币459,168千元

（二零二四年：人民币377,995千元），详情载于

财务报表附注6。雇员薪酬乃基于彼等的资历、

经验、工作性质、表现及市况而厘定。

本集团已遵照中国规章及法规以及地方政府现行

政策规定，为本集团聘用的雇员设立多项福利计

划，包括提供养老金、医疗保险、失业保险、工

伤保险、生育保险及雇业责任险和团体意外商业

保险。

EMPLOYES

The Group had a total of 2,399 employes (2024: 2,131) as at 31

March 2025. The folowing table shows the breakdown of the Group’s

employes by responsibilities:

Total staf costs for the Year amounted to aproximately

RMB459,168,000 (2024: RMB377,995,000) and the details are set out in

note 6 to the financial statements. Remuneration for employes is based

upon their qualification, experience, job nature, performance and market

condition.

The Group has established various welfare plans including the provision

of pension funds, medical insurance, unemployment insurance,

employment injury insurance, maternity insurance, employment liability

insurance and group acident comercial insurance for employes who

are employed by the Group pursuant to the rules and regulations of the

PRC and the existing policy requirements of the local government.

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS’ REPORT

董事会报告书

The subsidiaries of the Company which are incorporated in the PRC

shal participate in the retirement scheme operated by the relevant local

governmental institutions. The PRC government shal be responsible

for the pension of the retired employes. The relevant subsidiaries

have to make contribution at a certain percentage of the employes’

salary for those employes who hold permanent residency in the PRC

(acording to the retirement pension policies in Zhejiang Province and

Anhui Province, the contribution ratio of the Company’s subsidiaries

was 16% and 16% from April 2024 to March 2025, respectively). Once

contributions are made by the subsidiaries to the retirement scheme, the

relevant employer’s contribution is fuly owned by the employes. For the

year ended 31 March 2025, the pension contribution of the Group was

aproximately RMB33,616,000.

KEY RELATIONSHIPS WITH EMPLOYES,

CUSTOMERS AND SUPLIERS

The Group recognises the acomplishment of the employes by

providing comprehensive benefit package, carer development

oportunities and internal training apropriate to individual neds. The

Group provides a healthy and safe workplace for al employes. No

strikes or cases of fatality due to workplace acidents were found during

the Year.

The Group values the coperation relationships with supliers to

met our customers’ neds in an efective and eficient maner. The

departments work closely to make sure the procurement proces is

conducted in an open, fair and just maner. The Group’s requirements

and standards are also wel-comunicated to supliers before the

comencement of procurement.

The Group values the views and opinions of al customers through

various means and chanels, including the usage of market research, to

understand customer trends and neds and regularly analyses customer

fedback. The Group also conducts comprehensive tests and checks to

ensure that quality products and services are ofered to the customers.

DIRECTORS’ INTERESTS IN COMPETING

BUSINES

During the Year, none of the Directors of the Company and their close

asociates (within the meaning of the Listing Rules) are demed to have

any interests in any busines which competes or is likely to compete,

directly or indirectly, with the busines of our Group that ned to be

disclosed under Rule 8.10 of the Listing Rules.

本公司在中国注册成立的子公司须参与由当地政

府机构管理的养老保险计划。中国政府须承担该

等退休雇员的退休金责任。该等子公司须为拥有

中国永久居民资格的雇员提供其薪金一定比例的

供款（根据浙江省及安徽省的养老保险金政策，

二零二四年四月至二零二五年三月本公司子公司

的供款比例分别为16%及16%）。子公司一经向

养老保险金计划供款，有关雇主供款即全数归雇

员所有。本集团于截至二零二五年三月三十一日

止年度的退休金供款约为人民币33,616千元。

与雇员、客户及供应商的主要关

系

本集团为雇员提供全面优厚福利、事业发展机会

及就个别需要提供适当的内部培训，以表扬雇员

的贡献。本集团为所有雇员提供一个健康而安全

的工作环境。于本年度，概无出现罢工或职场意

外而导致伤亡的个案。

本集团与供应商建立合作关系，有效及高效地满

足我们客户的需要。双方部门紧密合作，确保采

购过程公开、公平及公正。本集团于开始采购前

已向供应商清楚说明本集团的规定及标准。

本集团重视所有客户的观点及意见，并通过不同

方法及渠道（包括运用市场调研）了解客户趋势

及需要，并定期分析客户反馈。本集团亦进行全

面测试及检验，以确保向客户提供优质产品及服

务。

董事于竞争业务之权益

于本年度内，本公司董事或其紧密联系人（定义

见上市规则）均无被视为与本集团业务直接或间

接构成或可能构成竞争之业务中拥有任何根据上

市规则第8.10条须予披露的权益。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS’ REPORT

董事会报告书

管理合约

于本年度内，本集团概无订立或存续任何有关本

公司全部或任何主要部分业务的管理及行政的重

要合约。

股份持有人之税项

香港

买卖、出售及转让在本公司香港股东名册登记之

股份须缴纳香港印花税。现时买方及卖方（或承

让人及转让人）各自缴纳之现行税率为代价或被

购买╱出售或转让股份之公平值（不足之数当作

千港元计算）（以较大者为准）之0.1%。此外，

每份股份转让文件现时须缴纳固定税额5.00港

元。

产生自或源自于香港之买卖股份溢利可能亦须缴

纳香港利得税。

开曼群岛

根据开曼群岛现行法例，转让及╱或以其他方

式处置股份无须缴纳开曼群岛印花税。

咨询专业顾问

倘有意持有本公司股份之人士及投资者对认购、

购买、持有、出售或买卖股份之税务影响（包括

税务减免）有任何疑问，本公司建议咨询彼等之

专业顾问。谨此强调，本公司或其董事或高级行

政人员概不对本公司股份持有人因认购、购买、

持有、出售或买卖该等股份所产生之任何税务影

响或责任承担任何责任。

税务减免

本公司并不知悉本公司证券之任何持有人因其特

有关证券而享有任何税务减免。

公众持股量

于本年报发布前的最后实际可行日期，根据公开

予本公司查阅的资料并就董事会所知，本公司于

回顾年内一直维持上市规则所订明不少于25%

的公众持股量。

MANAGEMENT CONTRACTS

No material contracts in relation to the management and administration

of al or any principal part of the busines of the Company were entered

into by the Group or were subsisting during the Year.

TAXATION OF HOLDERS OF SHARES

Hong Kong

The dealings in sale and transfer of shares registered in the Company’s

branch register of members in Hong Kong wil be subject to Hong

Kong stamp duty. The curent rate charged curently on each of the

purchaser and the seler (or the transfere and the transferor) is 0.1% of

the consideration or, if greater, the fair value of the shares purchased/

sold or transfered (rounded up to HK$’000). In adition, a fixed duty of

HK$5.00 is curently payable on an instrument of transfer of shares.

Profits from dealings in shares arising in or derived from Hong Kong may

also be subject to Hong Kong profits tax.

Cayman Islands

Under the present Cayman Islands laws, transfers and/or otherwise

dispositions of shares are exempt from Cayman Islands stamp duty.

Consultation with Profesional Advisers

Potential holders and investors of the Company’s shares are

recomended to consult their profesional advisers if they are in any

doubt as to the taxation implications (including tax relief) of subscribing

for, purchasing, holding, disposing of or dealing in shares. It is

emphasized that none of the Company or its Directors or oficers wil

acept any responsibility for any tax efect on, or liabilities of, holders of

shares in the Company resulting from their subscription for, purchase,

holding, disposal of or dealing in such shares.

Tax Relief

The Company is not aware of any tax relief for any holder of the

Company’s securities due to its unique securities.

PUBLIC FLOAT

Based on information publicly available to the Company and to the best

knowledge of the Board, as at the latest practicable date prior to the

isuance of this anual report, the Company has always maintained

the prescribed public float under the Listing Rules of not les than 25%

during the Year under Review.

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS’ REPORT

董事会报告书

DED OF NON-COMPETITION

The Company entered into a ded of non-competition (the “Ded of

Non-competition”) with the Controling Shareholder on 4 September

2017 so as to beter safeguard the Group from any potential competition

and to formalise the principles for the management of potential conflicts

betwen them and to enhance the Group’s corporate governance in

conection with the listing of the shares of the Company on the Stock

Exchange.

The Company has received a declaration from the Controling

Shareholder confirming that it has complied with the non-competition

undertaking during the year ended 31 March 2025. The Controling

Shareholder and its close asociates have confirmed that they have

no interest in the busines that has or may have direct or indirect

competition with the Group’s busines during the Year, except for the

busines of the Group.

During the Year, the Competition Executive Comite comprising

two disinterested Directors has inspected the compliance with and

performance of the terms of the Ded of Non-competition by the

Controling Shareholder and its close asociates.

During the Year, the Competition Supervisory Comite comprising

thre independent non-executive Directors has reviewed the status

of compliance by the Controling Shareholder with the Ded of Non-

competition including the review of the inspection findings of the

Competition Executive Comite. The Competition Supervisory

Comite reported its review results to the Board, which reveals that

the Controling Shareholder has complied with and performed each term

of the Ded of Non-competition.

ANUAL GENERAL METING

The forthcoming AGM of the Company wil be held in Hong Kong on

Monday, 18 August 2025. Notice of the AGM wil be published and

despatched to the Shareholders in the maner as required by the Listing

Rules in due course.

不竞争契据

本公司已于二零一七年九月四日与控股东订立

不竞争契据（「不竞争契据」），以更好地保障本

集团免受任何潜在竞争，并规范针对彼等之间潜

在冲突的管理原则，以及就本公司股份于联交所

上市加强本集团的企业管治。

本公司已经收到来自控股东确认其于截至二零

二五年三月三十一日止年度遵守不竞争承诺声

明。控股东及其紧密联系人已声明确认，彼等

于本年度没有与本集团业务存在或可能存在直接

或间接竞争的业务中拥有任何利益，惟本集团业

务除外。

本年度内，由两名无利害关系董事组成的竞争执

行委员会，已检查控股东及其紧密联系人的遵

守及执行不竞争契据条款的情况。

本年度内，由三名独立非执行董事组成的竞争监

察委员会已审阅控股东遵守不竞争契据的情

况，包括竞争执行委员会的检查结果。竞争监察

委员会向董事会报告其审阅结果，其审核结果显

示控股东已遵守及执行了不竞争契据各项条

款。

股东周年大会

本公司应届股东周年大会将于二零二五年八月十

八日（星期一）在香港举行。股东周年大会通告

将于适当时候按上市规则规定的方式刊发，并寄

交股东。

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS’ REPORT

董事会报告书

暂停办理股份过户登记手续

本公司将于二零二五年八月十三日（星期三）至

二零二五年八月十八日（星期一）（包括首尾两

日）暂停办理股份过户登记手续，以确定有权出

席股东周年大会并于会上投票的股东资格。记录

日期将为二零二五年八月十八日（星期一）。为

符合资格出席应届股东周年大会并于会上投票，

股东须于二零二五年八月十二日（星期二）下午

四时三十分前将所有过户文件连同有关股票交回

本公司的香港股份过户登记处卓佳证券登记有限

公司，地址为香港夏悫道16号远东金融中心17

楼。

此外，本公司将于二零二五年八月二十五日（星

期一）至二零二五年八月二十七日（星期三）（包

括首尾两日）暂停办理股份过户登记手续，以确

定享有建议末期股息的股东资格。记录日期将为

二零二五年八月二十七日（星期三）。为符合资

格享有建议末期股息，股东须于二零二五年八月

二十二日（星期五）下午四时三十分前将所有过

户文件连同有关股票交回本公司的香港股份过户

登记处卓佳证券登记有限公司，地址为香港夏悫

道16号远东金融中心17楼。

五年财务概要

本集团最近五个财政年度的业绩、资产以及负债

概要载于本年报第292页。

银行贷款

于二零二五年三月三十一日，本集团无未偿还之

银行贷款（二零二四年三月三十一日：无）。

储备

本集团于年度内的储备的变动记载于综合财务报

表之综合权益变动表。

CLOSURE OF REGISTER OF MEMBERS

The register of members of the Company wil be closed from

Wednesday, 13 August 2025 to Monday, 18 August 2025, both days

inclusive, for the purpose of ascertaining Shareholders’ entitlement to

atend and vote at the AGM. The record date wil be Monday, 18 August

2025. In order to be eligible for the right to atend and vote at the

forthcoming AGM, al transfers documents acompanied by the relevant

share certificates must be lodged with the Company’s Hong Kong share

registrar, Tricor Investor Services Limited, at 17/F, Far East Finance

Centre, 16 Harcourt Road, Hong Kong, not later than 4:30 p.m. on

Tuesday, 12 August 2025.

In adition, the register of members of the Company wil be closed from

Monday, 25 August 2025 to Wednesday, 27 August 2025, both days

inclusive, for the purpose of ascertaining Shareholders’ entitlement to the

proposed final dividend. The record date wil be Wednesday, 27 August

2025. In order to be eligible for the proposed final dividend, al transfers

documents acompanied by the relevant share certificates must be

lodged with the Company’s Hong Kong share registrar, Tricor Investor

Services Limited, at 17/F, Far East Finance Centre, 16 Harcourt Road,

Hong Kong, not later than 4:30 p.m. on Friday, 22 August 2025.

FIVE-YEAR FINANCIAL SUMARY

The sumary of the Group’s results, asets and liabilities for the latest

five financial years is set out on page 292 of this anual report.

BANK LOANS

As at 31 March 2025, the Group has no outstanding bank loans (31

March 2024: nil).

RESERVES

The changes in the reserves of the Group during the Year are set out

in the consolidated statement of changes in equity of the Consolidated

Financial Statements.

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

DIRECTORS’ REPORT

董事会报告书

AUDITOR

There has ben no change of auditor in the Company in the past thre

years.

The resolution on the re-apointment of Ernst & Young as the auditor of

the Company wil be proposed at the forthcoming AGM.

By Order of the Board

Precision Tsugami (China) Corporation Limited

Dr. Tang Donglei

Chairman, Chief Executive Oficer and Executive Director

Hong Kong, 25 June 2025

核数师

在过去三年间，本公司没有更换核数师。

续聘安永会计师事务所为本公司核数师的决议案

将于应届股东周年大会上提呈。

承董事会命

津上精密机床（中国）有限公司

主席、行政总裁兼执行董事

唐东雷博士

香港，二零二五年六月二十五日

INDEPENDENT AUDITOR’S REPORT

独立核数师报告

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

Ernst & Young

27/F, One Taiko Place

979 King’s Road

Quary Bay, Hong Kong

安永会计师事务所

香港鲗鱼涌英皇道979号

太古坊一座27楼

Tel 电话: +852 2846 9888

Fax 传真: +852 2868 4432

ey.com

Independent auditor’s report

To the shareholders of Precision Tsugami (China) Corporation Limited

(Incorporated in the Cayman Islands with limited liability)

OPINION

We have audited the consolidated financial statements of Precision

Tsugami (China) Corporation Limited (the “Company”) and its

subsidiaries (the “Group”) set out on pages 185 to 291, which

comprise the consolidated statement of financial position as at 31

March 2025, and the consolidated statement of profit or los and other

comprehensive income, the consolidated statement of changes in equity

and the consolidated statement of cash flows for the year then ended,

and notes to the consolidated financial statements, including material

acounting policy information.

In our opinion, the consolidated financial statements give a true and fair

view of the consolidated financial position of the Group as at 31 March

2025, and of its consolidated financial performance and its consolidated

cash flows for the year then ended in acordance with IFRS Acounting

Standards isued by the International Acounting Standards Board

(“IASB”) and have ben properly prepared in compliance with the

disclosure requirements of the Hong Kong Companies Ordinance.

BASIS FOR OPINION

We conducted our audit in acordance with Hong Kong Standards on

Auditing (“HKSAs”) isued by the Hong Kong Institute of Certified Public

Acountants (“HKICPA”). Our responsibilities under those standards

are further described in the Auditor’s responsibilities for the audit of

the consolidated financial statements section of our report. We are

independent of the Group in acordance with the HKICPA’s Code of

Ethics for Profesional Acountants (the “Code”), and we have fulfiled

our other ethical responsibilities in acordance with the Code. We believe

that the audit evidence we have obtained is suficient and apropriate to

provide a basis for our opinion.

独立核数师报告

致津上精密机床（中国）有限公司全体股东：

（于开曼群岛注册成立的有限公司）

意见

我们已审计列载于第185至291页的津上精密机

床（中国）有限公司（以下统称「贵公司」）及其附

属公司（以下统称「贵集团」）的合并财务报表，

此合并财务报表包括于二零二五年三月三十一日

的合并财务状况表与截至该日止年度的合并损益

表、其他全面收益表、合并权益变动表和合并现

金流量表，以及合并财务报表附注，包括主要会

计政策概要。

我们认为，该等合并财务报表已根据国际会计准

则理事会（「IASB」）颁布的国际财务报告准则会

计准则，真实、公允地反映了贵集团于二零二

五年三月三十一日的合并财务状况及截至该日止

年度的合并财务报表及合并现金流量，并已遵照

香港《公司条例》的披露规定妥为拟备。

意见的基础

我们已根据香港会计师公会颁布的《香港审计准

则》进行审计。我们在该等准则下承担的责任已

在本报告「核数师就审计合并财务报表承担的责

任」部分中作进一步阐述。根据香港会计师公

会颁布的《专业会计师道德守则》（以下简称「守

则」），我们独立于贵集团，并已履行守则中的

其他专业道德责任。我们相信，我们所获得的审

计凭证能充足及适当地为我们的审计意见提供基

础。

Key audit matter 关键审计事项	How our audit addressed the key audit matter 该事项在审计中是如何应对的
Provision for impairment of inventories 存货减值准备
The gross balance of inventories as at 31 March 2025 was RMB937,207,000, against which a provision for inventories amounting to RMB6,863,000 was made. The inventory balance comprises raw materials, work in progress and finished goods. At the end of the year, inventories were measured at the lower of cost and net realisable value. 于二零二五年三月三十一日，存货余额为人民币937,207千元，计提存货准备金人民币6,863千元。存货余额包括原材料、在产品和产成品。年末存货按成本与可变现净值孰低计量。 The Group’s management reviews the inventory ageing list to identify slow-moving and obsolete inventories and then estimates the amount of provision for slowing- moving and obsolete inventories. The determination of provision for slow-moving and obsolete inventories requires management to exercise judgement in identifying slow- moving and obsolete inventories and make estimates of the appropriate level of provision required. 本集团管理层审阅存货账龄清单以识别滞销和陈旧存货，然后估计滞销和陈旧存货的拨备金额。厘定滞销及陈旧存货拨备需要管理层在识别滞销及陈旧存货时作出判断，并估计所需拨备的适当水平。	Our audit procedures included the following: 我们通过如下程序检查管理层做出的估计： We discussed with management to obtain an understanding of management’s assessment in estimating the provision for impairment of inventories. 我们与管理层进行了讨论，以了解管理层对滞销和过时存货的评估。 We examined management’s assessment by observing the physical condition of the inventories, and performed the inventory count on a sampling basis. 我们在年末观察了存货盘点和存货的物理状况以验证管理层的评估。 We compared the net realisable value of estimated selling price, after deducting the estimated costs of completion and the estimated costs necessary to make the sale, with the carrying amount, and traced to the source documents. 我们将账面价值与预计销售价格扣除预计完成成本、预计销售费用后得到的可变现净值进行比较，并查看了原始单据。

Key audit matter 关键审计事项

How our audit addressed the key audit matter 该事项在审计中是如何应对的

Provision for impairment of inventories 存货减值准备

The gross balance of inventories as at 31 March 2025 was RMB937,207,000, against which a provision for inventories amounting to RMB6,863,000 was made. The inventory balance comprises raw materials, work in progress and finished goods. At the end of the year, inventories were measured at the lower of cost and net realisable value. 于二零二五年三月三十一日，存货余额为人民币937,207千元，计提存货准备金人民币6,863千元。存货余额包括原材料、在产品和产成品。年末存货按成本与可变现净值孰低计量。 The Group’s management reviews the inventory ageing list to identify slow-moving and obsolete inventories and then estimates the amount of provision for slowing- moving and obsolete inventories. The determination of provision for slow-moving and obsolete inventories requires management to exercise judgement in identifying slow- moving and obsolete inventories and make estimates of the appropriate level of provision required. 本集团管理层审阅存货账龄清单以识别滞销和陈旧存货，然后估计滞销和陈旧存货的拨备金额。厘定滞销及陈旧存货拨备需要管理层在识别滞销及陈旧存货时作出判断，并估计所需拨备的适当水平。

Our audit procedures included the following: 我们通过如下程序检查管理层做出的估计： We discussed with management to obtain an understanding of management’s assessment in estimating the provision for impairment of inventories. 我们与管理层进行了讨论，以了解管理层对滞销和过时存货的评估。 We examined management’s assessment by observing the physical condition of the inventories, and performed the inventory count on a sampling basis. 我们在年末观察了存货盘点和存货的物理状况以验证管理层的评估。 We compared the net realisable value of estimated selling price, after deducting the estimated costs of completion and the estimated costs necessary to make the sale, with the carrying amount, and traced to the source documents. 我们将账面价值与预计销售价格扣除预计完成成本、预计销售费用后得到的可变现净值进行比较，并查看了原始单据。

INDEPENDENT AUDITOR’S REPORT

独立核数师报告

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

KEY AUDIT MATERS

Key audit maters are those maters that, in our profesional judgement,

were of most significance in our audit of the consolidated financial

statements of the curent period. These maters were adresed in the

context of our audit of the consolidated financial statements as a whole,

and in forming our opinion thereon, and we do not provide a separate

opinion on these maters. For each mater below, our description of how

our audit adresed the mater is provided in that context.

We have fulfiled the responsibilities described in the Auditor’s

responsibilities for the audit of the consolidated financial statements

section of our report, including in relation to these maters. Acordingly,

our audit included the performance of procedures designed to

respond to our asesment of the risks of material mistatement

of the consolidated financial statements. The results of our audit

procedures, including the procedures performed to adres the maters

below, provide the basis for our audit opinion on the acompanying

consolidated financial statements.

关键审计事项

关键审计事项是根据我们的专业判断，认为对本

期合并财务报表的审计最为重要的事项。这些事

项是在对合并财务报表整体进行审计并形成意见

的背景下进行处理的，我们不对这些事项提供单

独的意见。我们对下述每一事项在审计中是如何

应对的描述也以此为背景。

我们已经履行了本报告「核数师就审计合并财务

报表承担的责任」部分阐述的责任，包括与这些

关键审计事项相关的责任。相应地，我们的审计

工作包括执行为应对评估的合并财务报表重大错

报风险而设计的审计程序。我们执行审计程序的

结果，包括应对下述关键审计事项所执行的程

序，为合并财务报表整体发表审计意见提供了基

础。

Key audit matter 关键审计事项	How our audit addressed the key audit matter 该事项在审计中是如何应对的
Provision for impairment of inventories 存货减值准备
The above process also involves management’s estimation of the quantity of those inventories in excess of projected usage, consideration of the production plan and expected future market demand as a result of changes in current market conditions and technology. 此过程还涉及管理层对这些库存的预计过量数量的估计，考虑到当前市场条件和技术变化导致的生产计划和预期的未来市场需求。 The Group’s management also assesses the net realisable value of inventories based on the latest invoice prices, the estimated cost to be incurred to completion, the estimated selling expenses and taxes. 本集团管理层还根据最新发票价格、预计完工成本、预计销售费用和税金评估存货的可变现净值。 We focused on this area because it required a high level of management judgement and estimation and the amounts involved were significant. 我们关注这一领域，因为它需要高水平的管理层判断，而且涉及的金额很大。 Related disclosures are included in note 2.4, note 3 and note 17 to the consolidated financial statements. 相关披露载于综合财务报表附注2.4、附注3及附注17。	We checked the accuracy of the inventory ageing list, analysed the inventory turnover rate, and compared the planned consumption to the historical consumption and production plan on a sampling basis to verify the reasonableness of the provision for slow-moving inventories. 我们抽样检查了存货账龄的准确性，分析了存货周转情况，并通过对比历史的消耗量，抽样检查存货计划消耗量的合理性。 We also assessed the adequacy of the Group’s disclosures of the provision for inventories in the consolidated financial statements. 我们亦评估了本集团在综合财务报表中披露存货拨备的充分性。

Key audit matter 关键审计事项

How our audit addressed the key audit matter 该事项在审计中是如何应对的

Provision for impairment of inventories 存货减值准备

The above process also involves management’s estimation of the quantity of those inventories in excess of projected usage, consideration of the production plan and expected future market demand as a result of changes in current market conditions and technology. 此过程还涉及管理层对这些库存的预计过量数量的估计，考虑到当前市场条件和技术变化导致的生产计划和预期的未来市场需求。 The Group’s management also assesses the net realisable value of inventories based on the latest invoice prices, the estimated cost to be incurred to completion, the estimated selling expenses and taxes. 本集团管理层还根据最新发票价格、预计完工成本、预计销售费用和税金评估存货的可变现净值。 We focused on this area because it required a high level of management judgement and estimation and the amounts involved were significant. 我们关注这一领域，因为它需要高水平的管理层判断，而且涉及的金额很大。 Related disclosures are included in note 2.4, note 3 and note 17 to the consolidated financial statements. 相关披露载于综合财务报表附注2.4、附注3及附注17。

We checked the accuracy of the inventory ageing list, analysed the inventory turnover rate, and compared the planned consumption to the historical consumption and production plan on a sampling basis to verify the reasonableness of the provision for slow-moving inventories. 我们抽样检查了存货账龄的准确性，分析了存货周转情况，并通过对比历史的消耗量，抽样检查存货计划消耗量的合理性。 We also assessed the adequacy of the Group’s disclosures of the provision for inventories in the consolidated financial statements. 我们亦评估了本集团在综合财务报表中披露存货拨备的充分性。

INDEPENDENT AUDITOR’S REPORT

独立核数师报告

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

KEY AUDIT MATERS (Continued)关键审计事项（续）

INDEPENDENT AUDITOR’S REPORT

独立核数师报告

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

OTHER INFORMATION INCLUDED IN THE

ANUAL REPORT

The directors of the Company are responsible for the other information.

The other information comprises the information included in the Anual

Report, other than the consolidated financial statements and our

auditor’s report thereon.

Our opinion on the consolidated financial statements does not cover

the other information and we do not expres any form of asurance

conclusion thereon.

In conection with our audit of the consolidated financial statements,

our responsibility is to read the other information and, in doing so,

consider whether the other information is materialy inconsistent with the

consolidated financial statements or our knowledge obtained in the audit

or otherwise apears to be materialy mistated. If, based on the work

we have performed, we conclude that there is a material mistatement

of this other information, we are required to report that fact. We have

nothing to report in this regard.

RESPONSIBILITIES OF THE DIRECTORS

FOR THE CONSOLIDATED FINANCIAL

STATEMENTS

The directors of the Company are responsible for the preparation of

the consolidated financial statements that give a true and fair view in

acordance with IFRS Acounting Standards isued by the IASB and

the disclosure requirements of the Hong Kong Companies Ordinance,

and for such internal control as the directors determine is necesary to

enable the preparation of consolidated financial statements that are fre

from material mistatement, whether due to fraud or eror.

In preparing the consolidated financial statements, the directors of the

Company are responsible for asesing the Group’s ability to continue

as a going concern, disclosing, as aplicable, maters related to going

concern and using the going concern basis of acounting unles the

directors of the Company either intend to liquidate the Group or to cease

operations or have no realistic alternative but to do so.

The directors of the Company are asisted by the Audit Comite in

discharging their responsibilities for overseing the Group’s financial

reporting proces.

刊载于年度报告内其他资讯

董事需对其他资讯负责。其他资讯包括刊载于年

度报告内的资讯，但不包括合并财务报表及我们

的核数师报告。

我们对合并财务报表的意见并不涵盖其他资讯，

我们亦不对该等其他资讯发表任何形式的鉴证结

论。

结合我们对合并财务报表的审计，我们的责任是

阅读其他资讯，在此过程中，考虑其他资讯是否

与合并财务报表或我们在审计过程中所了解的情

况存在重大抵触或者似乎存在重大错报的情况。

基于我们已执行的工作，如果我们认为其他资讯

存在重大错报，我们需要报告该事实。在这方

面，我们没有任何报告。

董事就合并财务报表须承担的责

任

董事须负责根据国际会计准则理事会（「IASB」）

颁布的国际财务报告准则会计准则及香港《公司

条例》的披露规定拟备真实而公允的合并财务报

表，并对其认为使合并财务报表的拟备不存在

由于欺诈或错误而导致的重大错报所需的内部控

制负责。

在拟备合并财务报表时，董事负责评估贵集团

持续经营的能力，并在适用情况下披露与持续经

营有关的事项，以及使用持续经营为会计基础，

除非董事有意将贵集团清盘或停止经营，或别

无其他实际的替代方案。

审核委员会协助董事履行职责，监督贵集团的

财务报告过程。

INDEPENDENT AUDITOR’S REPORT

独立核数师报告

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

AUDITOR’S RESPONSIBILITIES FOR THE

AUDIT OF THE CONSOLIDATED FINANCIAL

STATEMENTS

Our objectives are to obtain reasonable asurance about whether the

consolidated financial statements as a whole are fre from material

mistatement, whether due to fraud or eror, and to isue an auditor’s

report that includes our opinion. Our report is made solely to you, as

a body, and for no other purpose. We do not asume responsibility

towards or acept liability to any other person for the contents of this

report.

Reasonable asurance is a high level of asurance, but is not a

guarante that an audit conducted in acordance with HKSAs wil always

detect a material mistatement when it exists. Mistatements can arise

from fraud or eror and are considered material if, individualy or in the

agregate, they could reasonably be expected to influence the economic

decisions of users taken on the basis of these consolidated financial

statements.

As part of an audit in acordance with HKSAs, we exercise profesional

judgement and maintain profesional scepticism throughout the audit.

We also:

• Identify and ases the risks of material mistatement of the

consolidated financial statements, whether due to fraud or eror,

design and perform audit procedures responsive to those risks,

and obtain audit evidence that is suficient and apropriate

to provide a basis for our opinion. The risk of not detecting a

material mistatement resulting from fraud is higher than for

one resulting from eror, as fraud may involve colusion, forgery,

intentional omisions, misrepresentations, or the overide of

internal control.

• Obtain an understanding of internal control relevant to the audit

in order to design audit procedures that are apropriate in the

circumstances, but not for the purpose of expresing an opinion

on the efectivenes of the Group’s internal control.

• Evaluate the apropriatenes of acounting policies used and the

reasonablenes of acounting estimates and related disclosures

made by the directors.

核数师就审计合并财务报表承担

的责任

我们的目标是对合并财务报表整体是否不存在由

于欺诈或错误而导致的重大错报取得合理保证，

并出具包括我们意见的核数师报告。我们仅对全

体股东作出报告，除此以外，本报告并无其他用

途。我们不会就核数师报告的内容向任何其他人

士负上或承担任何责任。

合理保证是高水准的保证，但不能保证按照《香

港审计准则》进行的审计，在某一重大错报存在

时总能发现。错报可以由欺诈或错误引起，如果

合理预期它们单独或汇总起来可能影响合并财务

报表使用者依赖合并财务报表所作出的经济决

定，则有关的错报可被视作重大。

在根据《香港审计准则》进行审计的过程中，我

们运用了专业判断，保持了专业怀疑态度。我们

亦：

• 识别和评估由于欺诈或错误而导致合并

财务报表存在重大错报的风险，设计及

执行审计程序以应对这些风险，以及获

取充足和适当的审计凭证，作为我们意

见的基础。由于欺诈可能涉及串谋、伪

造、蓄意遗漏、虚假陈述，或凌驾于内

部控制之上，因此未能发现因欺诈而导

致的重大错报的风险高于未能发现因错

误而导致的重大错报的风险。

，以设计适

当的审计程序，但目的并非对贵集团

内部控制的有效性发表意见。

• 评价董事所采用会计政策的恰当性及作

出会计估计和相关披露的合理性。

INDEPENDENT AUDITOR’S REPORT

独立核数师报告

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

AUDITOR’S RESPONSIBILITIES FOR THE

AUDIT OF THE CONSOLIDATED FINANCIAL

STATEMENTS (Continued)

’ use of the

going concern basis of acounting and, based on the audit

evidence obtained, whether a material uncertainty exists related

to events or conditions that may cast significant doubt on the

Group’s ability to continue as a going concern. If we conclude

that a material uncertainty exists, we are required to draw

atention in our auditor’s report to the related disclosures in the

consolidated financial statements or, if such disclosures are

inadequate, to modify our opinion. Our conclusions are based on

the audit evidence obtained up to the date of our auditor’s report.

However, future events or conditions may cause the Group to

cease to continue as a going concern.

, structure and content of the

consolidated financial statements, including the disclosures,

and whether the consolidated financial statements represent the

underlying transactions and events in a maner that achieves fair

presentation.

• Plan and perform the group audit to obtain suficient apropriate

audit evidence regarding the financial information of the entities or

busines units within the Group as a basis for forming an opinion

on the consolidated financial statements. We are responsible for

the direction, supervision and review of the audit work performed

for purposes of the group audit. We remain solely responsible for

our audit opinion.

We comunicate with the Audit Comite regarding, among other

maters, the planed scope and timing of the audit and significant audit

findings, including any significant deficiencies in internal control that we

identify during our audit.

We also provide the Audit Comite with a statement that we have

complied with relevant ethical requirements regarding independence

and to comunicate with them al relationships and other maters that

may reasonably be thought to bear on our independence, and where

aplicable, actions taken to eliminate threats or safeguards aplied.

核数师就审计合并财务报表承担

的责任（续）

• 对董事采用持续经营会计基础的恰当性

作出结论。根据所获取的审计凭证，确

定是否存在与事项或情况有关的重大不

确定性，从而可能导致对贵集团的持

续经营能力产生重大疑虑。如果我们认

为存在重大不确定性，则有必要在核数

师报告中提请使用者注意合并财务报中

的相关披露。假若有关的披露不足，则

我们应当发表非无保留意见。我们的结

论是基于核数师报告日止所取得的审计

凭证。然而，未来事项或情况可能导

致贵集团不能持续经营。

、结

构和内容，包括披露，以及合并财务报

表是否公允反映交易和事项。

，就贵集团

内实体或业务单位的财务资料获取充

足，适当的审核凭证作为对综合财务报

表发表意见的基础。我们负责指导、监

督及审阅为进行集团审核而执行的审核

工作。我们为审计意见承担全部责任。

除其他事项外，我们与审核委员会沟通了计划的

审计范围、时间安排、重大审计发现等，包括我

们在审计中识别出内部控制的任何重大缺陷。

我们还向审核委员会提交声明，说明我们已符合

有关独立性的相关专业道德要求，并与他们沟通

有可能合理地被认为会影响我们独立性的所有关

系和其他事项，以及在适用的情况下，相关的防

范措施。

INDEPENDENT AUDITOR’S REPORT

独立核数师报告

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

AUDITOR’S RESPONSIBILITIES FOR THE

AUDIT OF THE CONSOLIDATED FINANCIAL

STATEMENTS (Continued)

From the maters comunicated with the Audit Comite, we

determine those maters that were of most significance in the audit of the

consolidated financial statements of the curent period and are therefore

the key audit maters. We describe these maters in our auditor’s

report unles law or regulation precludes public disclosure about the

mater or when, in extremely rare circumstances, we determine that a

mater should not be comunicated in our report because the adverse

consequences of doing so would reasonably be expected to outweigh

the public interest benefits of such comunication.

The engagement partner on the audit resulting in this independent

auditor’s report is Hsu Lung Wu.

Ernst & Young

Certified Public Acountants

Hong Kong

25 June 2025

核数师就审计合并财务报表承担

的责任（续）

从与审核委员会沟通的事项中，我们确定哪些事

项对本期合并财务报表的审计最为重要，因而构

成关键审计事项。我们在核数师报告中描述这些

事项，除非法律法规不允许公开披露这些事项，

或在极端罕见的情况下，如果合理预期在我们报

告中沟通某事项造成的负面后果超过产生的公众

利益，我们决定不应在报告中沟通该事项。

出具本独立核数师报告的审计项目合伙人是吴旭

龙。

安永会计师事务所

执业会计师

香港

2025年6月25日

4,261,557
(2,851,124)
1,410,433
80,384
(189,947)
(152,629)
(6,216)
(4,434)
(412)
1,137,179
(354,762)
782,417
782,417
782,417

2.08
2.07

CONSOLIDATED STATEMENT OF PROFIT OR LOS AND OTHER COMPREHENSIVE INCOME

综合损益及其他全面收益表

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

Year ended 31 March

截至三月三十一日止年度

二零二五年二零二四年

NotesRMB’000RMB’000

附注人民币千元人民币千元

REVENUE收入53,119,674

Cost of sales销售成本(2,224,135)

Gros profit毛利895,539

Other income and gains其他收入及收益585,268

Seling and distribution expenses销售及分销成本(155,851)

Administrative expenses管理费用(113,856)

Impairment los on financial asets, net金融资产减值损失净额2,340

Other expenses其他支出(9,713)

Finance costs财务成本7(993)

PROFIT BEFORE TAX除税前溢利6702,734

Income tax expense所得税开支10(222,764)

PROFIT FOR THE YEAR本年度溢利479,970

TOTAL COMPREHENSIVE INCOME

FOR THE YEAR

全年综合收入总额

479,970

Atributable to:应占：

Owners of the parent 母公司拥有人479,970

Year ended 31 March

截至三月三十一日止年度

二零二五年二零二四年

RMBRMB

人民币人民币

EARNINGS PER SHARE

ATRIBUTABLE TO ORDINARY

EQUITY HOLDERS OF THE PARENT

母公司普通股权益持有人

应占每股盈利

Basic－基本

– For profit for the year －本年度溢利121.26

Diluted－摊薄

– For profit for the year －本年度溢利121.26

554,497
67,656
6,315
4,750
26,294
659,512
930,344
1,566,691
16,287
1,081,652
3,594,974
610,517
213,949
1,338
137,750
10,391
973,945
2,621,029
3,280,541
1,005
116,361
16,600
12,413
146,379
3,134,162

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

综合财务状况表

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

As at 31 March

于三月三十一日

二零二五年二零二四年

NotesRMB’000RMB’000

附注人民币千元人民币千元

NON-CURENT ASETS非流动资产

Property, plant and equipment物业、厂房及设备13567,773

Right-of-use asets使用权资产14(a)71,262

Intangible asets无形资产155,475

Equity investments designated at fair value

through other comprehensive income

指定为以公允价值计量且其变动计入

其他综合收益的股权投资163,775

Defered tax asets递延税项资产2420,932

Total non-curent asets非流动资产合计669,217

CURENT ASETS流动资产

Inventories存货17857,075

Trade and notes receivables应收贸易款项及票据18981,537

Prepayments, other receivables and other

asets

预付款项、其他应收款项及其他资产

1913,343

Cash and bank balances现金及银行结余201,111,063

Total curent asets流动资产合计2,963,018

CURENT LIABILITIES流动负债

Trade and notes payables应付贸易款项及票据21533,783

Other payables and acruals其他应付款项及应计费用22189,754

Lease liabilities租赁负债14(b)2,184

Tax payable应付所得税73,492

Provision拨备236,995

Total curent liabilities流动负债合计806,208

NET CURENT ASETS流动资产净额2,156,810

TOTAL ASETS LES CURENT

LIABILITIES

总资产减流动负债

2,826,027

NON-CURENT LIABILITIES非流动负债

Lease liabilities租赁负债14(b)1,902

Defered tax liabilities递延税项负债2491,280

Defered income递延收入2518,099

Other liabilities其他长期负债13,157

Total non-curent liabilities非流动负债合计124,438

Net asets净资产2,701,589

319,626
(87,058)
2,901,594
3,134,162

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

综合财务状况表

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

As at 31 March

于三月三十一日

二零二五年二零二四年

NotesRMB’000RMB’000

附注人民币千元人民币千元

EQUITY权益

Equity atributable to owners of the

parent

归属于母公司拥有人之权益

Isued capital已发行股本26319,836

Treasury shares库存股26(27,431)

Reserves储备282,409,184

Total equity权益合计2,701,589

Tang DongleiLi Zequn

唐东雷李泽群

DirectorDirector

董事董事

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

综合权益变动表

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

Atributable to owners of the parent

归属于母公司拥有人之权益

Isued

capital

Treasury

Merger

reserve*

premium

reserve*

Share-based

payment

reserve*

Statutory

reserve

fund*

Retained

profits*

Total

Equity

已发行

股本库存股

合并

储备*

股份溢价

储备*

股份支付

准备金*

法定储备

基金保留溢利

所有者权益

总值

RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000

人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元

At 1 April 2023于二零二三年四月一日319,836–(39,964)327,267–315,0991,606,6552,528,893

Total comprehensive

income for the year

本年度溢利合计

–479,970479,970

Dividend distribution股息分派–(280,148)(280,148)

Shares repurchased回购股份–(27,431)–(27,431)

Equity-setled share

based payment

权益结算为基础的股份

支付–305–305

Transfer from retained

profits

转拨自保留溢利

–648(648)–

At 31 March 2024于二零二四年

三月三十一日319,836(27,431)(39,964)327,267305315,7471,805,8292,701,589

319,836	(27,431)	(39,964)	327,267	305	315,747	1,805,829	2,701,589
–	–	–	–	–	–	782,417	782,417
–	–	–	–	–	–	(294,857)	(294,857)
–	(61,736)	–	–	–	–	–	(61,736)
–	–	–	–	6,749	–	–	6,749
(210)	2,109	–	(1,899)	–	–	–	–
–	–	–	–	–	63,353	(63,353)	–
319,626	(87,058)	(39,964)	325,368	7,054	379,100	2,230,036	3,134,162

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

综合权益变动表

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

* 该等储备账户构成于综合财务状况表中的综合储

备人民币2,901,594,000元（二零二四年：人民币

2,409,184,000元）。

Atributable to owners of the parent

归属于母公司拥有人之权益

Isued

capital

Treasury

Merger

reserve*

premium

reserve*

Share-based

payment

reserve*

Statutory

reserve

fund*

Retained

profits*

Total

Equity

已发行

股本库存股

合并

储备*

股份溢价

储备*

股份支付

准备金*

法定储备

基金保留溢利

所有者权益

总值

RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000

人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元

At 1 April 2024于二零二四年四月一日

Total comprehensive

income for the year

本年度溢利合计

Dividend distribution股息分派

Shares repurchased回购股份

Equity-setled share

based payment

权益结算为基础的股份

支付

Ordinary shares

canceled

库存股注销

Transfer from retained

profits

转拨自保留溢利

At 31 March 2025于二零二五年

三月三十一日

,901,594,000

(2024: RMB2,409,184,000) in the consolidated statement of financial position.

1,137,179
412
(22,518)
239
54,789
4,450
1,684
6,749
5,682
533
2,743
1
1,191,943
(76,012)
(591,369)
(2,945)
76,734
31,860
(744)
(7,666)
3,396
(1,499)
623,698
(270,785)
352,913

CONSOLIDATED STATEMENT OF CASH FLOWS

综合现金流量表

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

Year ended 31 March

截至三月三十一日止年度

二零二五年二零二四年

NotesRMB’000RMB’000

附注人民币千元人民币千元

CASH FLOWS FROM OPERATING

ACTIVITIES

经营业务现金流量

Profit before tax除税前溢利702,734

Adjustments for:调整项目：

Finance costs财务成本7993

Bank interest income银行利息收入6(27,664)

Los on disposal of items of property,

plant and equipment

出售物业、厂房及设备项目损失

Depreciation of property, plant and

equipment

物业、厂房及设备折旧

652,952

Depreciation of right-of-use asets使用权资产折旧64,392

Amortisation of intangible asets无形资产摊销61,393

Equity-setled share-based payment

expense

以权益结算的股票期权和股票激励

费用6305

Impairment los acrual/(reversed) of

trade receivables

应收贸易款项减值损失计提╱

（拨回）6(20)

Impairment los acrual/(reversed) of

financial asets at fair value through

other comprehensive income

按公允价值计量且其变动计入

其他综合收益之金融资产减值

损失计提╱拨回6(2,317)

Impairment los recognised of

inventories

存货减值损失计提

61,351

Impairment los acrual/(reversed)

of financial asets included in

prepayments, other receivables and

other asets

计入预付款项、其他应收款项及

其他资产之金融资产减值损失

计提╱拨回

6(3)

735,078

(Increase)/decrease in inventories存货（增加）╱减少196,765

Increase in trade and notes receivables应收贸易款项及票据增加(161,308)

(Increase)/decrease in prepayments, other

receivables and other asets

预付款项、其他应收款项及

其他资产（增加）╱减少6,415

Increase/(decrease) in trade and notes

payables

应付贸易款项及票据增加╱（减少）

(92,890)

Increase in other payables and acruals其他应付款项及应计费用增加9,970

(Decrease)/increase in other liabilities其他负债的（减少）╱增加1,057

(Decrease)/increase in contract liabilities合同负债（减少）╱增加13,312

Increase/(decrease) in provision拨备增加╱（减少）(2,679)

(Decrease)/increase in defered income递延收入（减少）╱增加1,681

Cash generated from operations经营活动产生的现金707,401

Income taxes paid已付所得税(201,587)

Net cash flows from operating

activities

经营活动现金流量流入净额

505,814

Continued/.

续╱.

22,518
(42,405)
653
(975)
(2,524)
428,000
(686,532)
(281,265)
(61,736)
(2,587)
(294,857)
(412)
(359,592)
(287,943)
678,007
390,064
390,064

CONSOLIDATED STATEMENT OF CASH FLOWS

综合现金流量表

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

Year ended 31 March

截至三月三十一日止年度

二零二五年二零二四年

NoteRMB’000RMB’000

附注人民币千元人民币千元

CASH FLOWS FROM INVESTING

ACTIVITIES

投资活动现金流量

Interest received已收利息27,664

Purchases of items of property, plant

and equipment

购买物业、厂房及设备项目

(86,260)

Proceds from disposal of items of

property, plant and equipment

出售物业、厂房及设备项目所得款项

Purchase of equity investments

designated at fair value through other

comprehensive income

购买以公允价值计量且其变动计入

其他综合收益的股权投资

(975)

Aditions to intangible asets无形资产增加(1,724)

Withdrawal of time deposits with original

maturity of more than thre months

原始到期日超过三个月的定期

存款到期562,000

Placement in time deposits with original

maturity of more than thre months

存入原始到期日超过三个月的

定期存款(656,056)

Net cash flows used in investing

activities

投资活动现金流出净额

(154,789)

CASH FLOWS FROM FINANCING

ACTIVITIES

融资活动现金流量

Repurchase of shares回购股份(27,431)

Principal portion of lease payments租赁支付的本金部分(3,018)

Dividends paid已付股息(280,148)

Interest paid已付利息(993)

Net cash flows used in financing

activities

融资活动现金流出净额

(311,590)

NET INCREASE IN CASH AND CASH

EQUIVALENTS

现金及现金等价物增加净额

39,435

Cash and cash equivalents at begining

of year

年初的现金及现金等价物

638,572

CASH AND CASH EQUIVALENTS AT

END OF YEAR

年末的现金及现金等价物

678,007

ANALYSIS OF BALANCES OF CASH

AND CASH EQUIVALENTS

现金及现金等价物的结余分析：

Cash and cash equivalents现金及现金等价物20678,007

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

1. CORPORATE AND GROUP INFORMATION

The Company is a limited liability company incorporated in

the Cayman Islands on 2 July 2013, and its shares have ben

listed on the Main Board of The Stock Exchange of Hong Kong

Limited (the “Stock Exchange”) since 25 September 2017. The

registered ofice adres of the Company is P.O. Box 31119

Grand Pavilion, Hibiscus Way, 802 West Bay Road, Grand

Cayman KY 1-1205, Cayman Islands.

The Company is an investment holding company. During the

year, the Company and its subsidiaries were primarily involved in

the manufacture and sale of high precision computer numerical

control (“CNC”) machine tols.

In the opinion of the directors of the Company, the holding

company and the ultimate holding company of the Company

is Tsugami Corporation (the “Controling Shareholder”), a

company incorporated in Japan whose shares are listed on the

Tokyo Stock Exchange.

Information about subsidiaries

Particulars of the Company’s subsidiaries are as folows:

Name of company

公司名称

Date of incorporation/

registration

and place of

operations

注册成立╱注册日期

及经营地点

Isued ordinary/

registered share

capital

已发行普通股╱

注册股本

Percentage of equity

atributable to the

Company

归属于本公司的

权益比例

Principal activities

主要业务

DirectIndirect

直接间接

Precision Tsugami (Hong Kong) Limited (note (a)

(“Precision Tsugami Hongkong”)

津上精密机床（香港）有限公司（附注(a)）

（「津上香港」）

24 September 2013

Hong Kong, China

中国香港，

二零一三年九月二十四日

HK$767,718,112

港元767,718,112

100–Investment holding

投资控股

津上精密机床(浙江) 有限公司(note (b)

Precision Tsugami (China) Corporation*

(“Precision Tsugami Zhejiang”)

津上精密机床（浙江）有限公司（附注(b)）

（「津上浙江」）

11 September 2003

Zhejiang, China

中国浙江，

二零三年九月十一日

US$148,700,000

美元148,700,000

–100Manufacture and sale

of high precision

CNC machine tols

制造及销售高精密数

控机床

1. 公司资讯

本公司于二零一三年七月二日在开曼群

岛注册成立为有限责任公司，其股份自

二零一七年九月二十五日起在香港联合

交易所有限公司（「联交所」）主板上市。

本公司注册地址位于P.O. Box 31119

Grand Pavilion, Hibiscus Way, 802 West

Bay Road, Grand Cayman KY 1-1205,

Cayman Islands。

本公司为投资控股公司。于本年度内，

本集团主要从事高精度计算机数字控制

（「CNC」）机床的制造和销售。

本公司的控股公司及最终控股公司为津

上株式会社（「控股东」），该公司于日

本注册成立并于东京证券交易所上市。

有关附属公司的资料

本公司的附属公司详情如下：

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

（续）

有关附属公司的资料（续）

Name of company

公司名称

Date of incorporation/

registration

and place of

operations

注册成立╱注册日期

及经营地点

Isued ordinary/

registered share

capital

已发行普通股╱

注册股本

Percentage of equity

atributable to the

Company

归属于本公司的

权益比例

Principal activities

主要业务

DirectIndirect

直接间接

浙江品川精密机械有限公司(note (b)

Shinagawa Precision Machinery (Zhejiang)

Co., Limited* (“Shinagawa Precision”)

浙江品川精密机械有限公司（附注(b)）

（「品川精密」）

24 November 2010

Zhejiang, China

中国浙江，

二零一零年十一月

二十四日

RMB 35,000,000

人民币35,000,000元

–100Manufacture and sale

of precision machine

tol castings

制造及销售精密

机床铸件

安徽津上精密机床有限公司(note (b)

Precision Tsugami (Anhui) Corporation*

(“Precision Tsugami Anhui”)

安徽津上精密机床有限公司（附注(b)）

（「安徽津上」）

18 April 2018

Anhui, China

中国安徽，

二零一八年四月十八日

RMB 150,000,000

人民币150,000,000元

–100Manufacture and sale

of high precision

CNC machine

tols and precision

machine tol

castings

制造及销售高精密

数控机床及精密

机床铸件

’s Republic of

China (the “PRC”) represent the best eforts made by the management of

the Company to translate their Chinese names as these subsidiaries do not

have oficial English names.

Notes:

(a) This entity is a limited liability company incorporated in Hong Kong.

(b) These entities are registered as limited liability companies under the laws of

the PRC.

1. CORPORATE AND GROUP INFORMATION

(Continued)

Information about subsidiaries (Continued)

（「中国」）注册的附属公

司的英文名称，代表本公司管理层已尽最大

努力翻译其中文名称，因为这些附属公司没

有正式的英文名称。

注：

(a) 该实体是一家于香港注册成立的有限公司。

(b) 该等实体根据中国法律注册为有限公司。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES

2.1 BASIS OF PREPARATION

These financial statements have ben prepared in

acordance with IFRS Acounting Standards (which include

al International Financial Reporting Standards, International

Acounting Standards (“IASs”) and Interpretations) isued

by the International Acounting Standards Board (“IASB”),

and the disclosure requirements of the Hong Kong

Companies Ordinance. They have ben prepared under the

historical cost convention, except for notes receivable and

equity investments which have ben measured at fair value.

These financial statements are presented in Renminbi,

and al values are rounded to the nearest thousand except

when otherwise indicated.

Basis of consolidation

The consolidated financial statements include the financial

statements of the Company and its subsidiaries (colectively

refered to as the “Group”) for the year ended 31 March

2025. A subsidiary is an entity (including a structured

entity), directly or indirectly, controled by the Company.

Control is achieved when the Group is exposed, or has

the rights, to variable returns from its involvement with the

investe and has the ability to afect those returns through

its power over the investe (i.e., existing rights that give

the Group the curent ability to direct the relevant activities

of the investe).

Generaly, there is a presumption that a majority of voting

rights results in control. When the Company has, les than

a majority of the voting or similar rights of an investe, the

Group considers al relevant facts and circumstances in

asesing whether it has power over an investe, including:

(a) the contractual arangement with the other vote

holders of the investe;

(b) rights arising from other contractual arangements;

and

2. 会计政策

2.1 编制基准

本财务报表已根据国际会计准则

委员会（「IASB」）颁布的国际财

务报告准则会计准则（包括所有国

际财务报告准则、国际会计准则

（「IAS」）及诠释）以及香港公司条

例的披露规定编制。该等财务报

表乃根据历史成本法编制，除按

公允价值计量的应收票据和权益

投资外。除另有说明者外，本财

务报表以人民币呈列并且所有数

值均调整至最接近的千位。

合并基础

综合财务报表包括本公司及其附

属公司（统称「本集团」）截至二零

二五年三月三十一日止年度的财

务报表。附属公司指本公司直接

或间接控制的实体（包括结构性实

体）。当本集团通过参与被投资方

的相关活动而承担可变回报的风

险或享有可变回报，并且有能力

运用对被投资方的权力（即本集团

目前有能力主导被投资方的相关

活动的现有权利）影响该等回报

时，即取得控制权。

一般来说，有一种假设，即大多

数投票权导致控制权。当本公司

拥有少于被投资方大多数的表决

或类似权利，在评估其是否拥有

对被投资方的权力时，本集团会

考虑所有相关事实及情况，包括：

(a) 与被投资方其他表决权持

有人的合同安排；

(b) 其他合同安排产生的权

利；及

决权。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.1 BASIS OF PREPARATION (Continued)

Basis of consolidation (Continued)

The financial statements of the subsidiaries are prepared

for the same reporting period as the Company, using

consistent acounting policies. The results of subsidiaries

are consolidated from the date on which the Group obtains

control, and continue to be consolidated until the date that

such control ceases.

Profit or los and each component of other comprehensive

income are atributed to the owners of the parent of the

Group and to the non-controling interests, even if this

results in the non-controling interests having a deficit

balance. Al intra-group asets and liabilities, equity,

income, expenses and cash flows related to transactions

betwen members of the Group are eliminated in ful on

consolidation.

The Group reaseses whether or not it controls an

investe if facts and circumstances indicate that there are

changes to one or more of the thre elements of control

described above. A change in the ownership interest of a

subsidiary, without a los of control, is acounted for as an

equity transaction.

If the Group loses control over a subsidiary, it derecognises

the related asets (including godwil), liabilities, any

non-controling interest and exchange fluctuation reserve

and recognises the fair value of any investment retained

and any resulting surplus or deficit in profit or los. The

Group’s share of components previously recognised in

other comprehensive income is reclasified as profit or los

or retained profits, as apropriate, on the same basis as

would be required if the Group had directly disposed of the

related asets or liabilities.

（续）

2.1 编制基准（续）

合并基础（续）

附属公司的财务报表与本公司的

报告期间一致，会计政策一致。

附属公司之经营业绩从集团取得

控制权之日起综合计算，并继续

计算至该控制停止。

损益及其他综合收益的各部分将

归属于本集团的母公司拥有人和

非控制权益人，即使这将导致非

控制权益出现赤字余额。本集团

内各公司之间所有往来资产及负

债余额、权益、收入、支出及交

易所产生的现金流量均于合并时

进行抵销。

如果事实和情形表明上述所描述

的三个控制因素有一个或以上发

生改变，本集团需重新评估其是

否继续控制被投资公司。附属公

司中所有权的变动在非失去控制

权的情况下，作为股权交易处理。

如果本集团失去一家附属公司的

控制，将终止对相关资产（包括

商誉）、负债、任何非控制性权益

和汇率波动准备金的确认；并在

利润表中确认任何留存投资的公

允价值以及由此产生的盈余或亏

损。本集团在其他综合收入中先

前确认的组成部分的份额，按本

集团直接处置相关资产或负债所

需的相同基础，酌情重新分类为

利润、亏损或留存利润。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.2 CHANGES IN ACOUNTING POLICIES AND

DISCLOSURES

The Group has adopted the folowing revised IFRS

Acounting Standards for the first time for the curent

year’s financial statements.

Amendments to IFRS 16Lease Liability in a Sale and

Leaseback

Amendments to IAS 1Clasification of Liabilities as

Curent or Non-curent

(the “2020 Amendments”)

Amendments to IAS 1Non-curent Liabilities with Covenants

(the “2022 Amendments”)

Amendments to IAS 7 and

IFRS 7

Suplier Finance Arangements

The nature and the impact of the revised IFRS Acounting

Standards are described below:

(a) Amendments to IFRS 16 specify the requirements

that a seler-lese uses in measuring the lease

liability arising in a sale and leaseback transaction

to ensure the seler-lese does not recognise any

amount of the gain or los that relates to the right

of use it retains. Since the Group has no sale and

leaseback transactions with variable lease payments

that do not depend on an index or a rate ocuring

from the date of initial aplication of IFRS 16,

the amendments did not have any impact on the

financial position or performance of the Group.

（续）

2.2 会计政策的变更及披露

本集团在本年度财务报表中首次

采用以下经修订的国际财务报告

准则会计准则。

国际财务报告准则

第16号（修订本）

售后租回交易中的租赁

负债

国际会计准则第1号

（修订本）

将负债分类为流动或

非流动（「2020年

修订本」）

国际会计准则第1号

（修订本

附带契诺的非流动负债

（「2022年修订本」）

国际会计准则第7号及

国际财务报告准则

第7号（修订本）

供应商融资安排

本集团所采纳的经修订国际财务

报告准则的性质及影响载于下文：

(a) 国际财务报告准则第16号

（修订本）明确了卖方－承

租人计量售后租回交易产

生的租赁负债时适用的规

定，以确保卖方－承租人

不会确认与所保留使用权

有关的任何损益金额。由

于本集团自首次应用国际

财务报告准则第16号日期

起并无涉及可变租赁付款

（并非视乎指数或比率而

定）的售后租回交易，故该

等修订不会对本集团的财

务状况或表现产生任何影

响。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

（续）

2.2 会计政策的变更及披露（续）

(b) 2020年修订本澄清了将

负债分为流动或非流动的

规定，包括于报告期间结

束日必须具有递延清偿权

利及递延权利的含义。负

债的分类不受实体行使其

递延清偿权利的可能性的

影响。该等修订亦澄清，

负债可以其本身的权益工

具清偿，且仅当可转换负

债的转换权本身作为权益

工具入账时，负债的条款

才不会影响其分类。2022

年修订进一步澄清，在贷

款安排所产生的债务契诺

中，只有实体必须于报告

日期或之前遵守的契诺会

影响该负债的流动或非流

动分类。实体就须于报告

期后12个月内遵守未来契

诺的非流动负债，应当作

出额外披露。

本集团已重新评估其于

2023年及2024年4月1日

的负债条款及条件，并得

出结论认为，其负债的流

动或非流动分类于首次应

用修订后保持不变。因

此，该等修订并未对本集

团的财务状况或表现产生

任何影响。

2. ACOUNTING POLICIES (Continued)

2.2 CHANGES IN ACOUNTING POLICIES AND

DISCLOSURES (Continued)

(b) The 2020 Amendments clarify the requirements

for clasifying liabilities as curent or non-curent,

including what is meant by a right to defer

setlement and that a right to defer must exist at

the end of the reporting period. Clasification of

a liability is unafected by the likelihod that the

entity wil exercise its right to defer setlement.

The amendments also clarify that a liability can

be setled in its own equity instruments, and that

only if a conversion option in a convertible liability

is itself acounted for as an equity instrument

would the terms of a liability not impact its

clasification. The 2022 Amendments further clarify

that, among covenants of a liability arising from

a loan arangement, only those with which an

entity must comply on or before the reporting date

afect the clasification of that liability as curent or

non-curent. Aditional disclosures are required for

non-curent liabilities that are subject to the entity

complying with future covenants within 12 months

after the reporting period.

The Group has reasesed the terms and conditions

of its liabilities as at 1 April 2023 and 2024 and

concluded that the clasification of its liabilities as

curent or non-curent remained unchanged upon

initial aplication of the amendments. Acordingly,

the amendments did not have any impact on the

financial position or performance of the Group.

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.2 CHANGES IN ACOUNTING POLICIES AND

DISCLOSURES (Continued)

characteristics of suplier finance arangements and

require aditional disclosure of such arangements.

The disclosure requirements in the amendments

are intended to asist users of financial statements

in understanding the efects of suplier finance

arangements on an entity’s liabilities, cash flows

and exposure to liquidity risk. As the Group

does not have suplier finance arangements,

the amendments did not have any impact on the

Group’s financial statements.

（续）

2.2 会计政策的变更及披露（续）

财务报告准则第7号的修订

本澄清了供应商融资安排

的特征，并要求对该等安

排作出额外披露。该等修

订本的披露规定旨在协助

财务报表使用者了解供应

商融资安排对实体负债、

现金流量及流动资金风险

敞口的影响。由于本集团

不适用供应商融资安排，

该等修订并未对本集团的

财务状况或表现产生任何

影响。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.3 ISUED BUT NOT YET EFECTIVE IFRS

ACOUNTING STANDARDS

The Group has not aplied the folowing new and revised

IFRS Acounting Standards, that have ben isued but are

not yet efective, in these financial statements. The Group

intends to aply these new and revised IFRS Acounting

Standards, if aplicable, when they become efective.

IFRS 18Presentation and Disclosure in Financial

Statements

IFRS 19Subsidiaries without Public Acountability:

Disclosures

Amendments to IFRS 9

and IFRS 7

Amendments to the Clasification and

Measurement of Financial Instruments

Amendments to IFRS 10

and IAS 28

Sale or Contribution of Asets betwen

an Investor and its Asociate or Joint

Venture

Amendments to IAS 21Lack of Exchangeability

Anual Improvements to

IFRS Acounting

Standards – Volume 11

Amendments to IFRS 1, IFRS 7, IFRS 9,

IFRS 10 and IAS 7

Amendments to IFRS 9 and

IFRS 7

Contracts Refering Nature-dependent

Electricty

Efective for anual periods begining on or after 1 January 2025

Efective for anual periods begining on or after 1 January 2026

Efective for anual/reporting periods begining on or after 1

January 2027

No mandatory efective date yet determined but available for

adoption

（续）

2.3 已颁布但尚未生效的国际财务

报告准则会计准则

本集团并未于该等财务报表中应

用以下已颁布但尚未生效的新订

及经修订国际财务报告准则会计

准则。本集团拟于其生效时应用

该等新订及经修订国际财务报告

准则会计准则（如适用）。

国际财务报告准则

第18号

财务报表的呈列及披露

国际财务报告准则

第19号

非公共受托责任的附属

公司：披露

国际财务报告准则第9号

及国际财务报告准则

第7号（修订本）

金融工具分类和计量的

修订

国际财务报告准则第10号

及国际会计准则

第28号（修订本）

投资者与其联营公司或

合营企业之间的资产

出售或出资

国际会计准则第21号

（修订本）

缺乏可兑换性

国际财务报告准则会计

准则的年度改进－

第11册

国际财务报告准则第1号、

国际财务报告准则

第7号、国际财务报告准

则第9号、国际财务报告

准则第10号及国际会计

准则第7号（修订本）

国际财务报告准则第9号

及和国际财务报告准则

第7号（修订本）

涉及依赖负然能源生产电力

的合约

于二零二五年一月一日或之后开始

的年度期间生效

于二零二六年一月一日或之后开始

的年度期间生效

于二零二七年一月一日或之后开始

的年度╱报告期间生效

仍未决定强制生效日期，但可供采

纳

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.3 ISUED BUT NOT YET EFECTIVE IFRS

ACOUNTING STANDARDS (Continued)

Except for the new IFRS Acounting Standards mentioned

below, the directors of the Company anticipate that the

aplication of al other amendments to IFRS Acounting

Standards wil have no material impact on the consolidated

financial statements in the foreseable future.

IFRS 18 replaces IAS 1 Presentation of Financial

Statements. While a number of sections have ben

brought forward from IAS 1 with limited changes, IFRS

18 introduces new requirements for presentation within

the statement of profit or los, including specified totals

and subtotals. Entities are required to clasify al income

and expenses within the statement of profit or los into

one of the five categories: operating, investing, financing,

income taxes and discontinued operations and to present

two new defined subtotals. It also requires disclosures

about management-defined performance measures in a

single note and introduces enhanced requirements on the

grouping (agregation and disagregation) and the location

of information in both the primary financial statements

and the notes. Some requirements previously included in

IAS 1 are moved to IAS 8 Acounting Policies, Changes

in Acounting Estimates and Erors, which is renamed

as IAS 8 Basis of Preparation of Financial Statements.

As a consequence of the isuance of IFRS 18, limited,

but widely aplicable, amendments are made to IAS 7

Statement of Cash Flows, IAS 33 Earnings per Share and

IAS 34 Interim Financial Reporting. In adition, there are

minor consequential amendments to other IFRSs. IFRS

18 and the consequential amendments to other IFRSs are

efective for anual periods begining on or after 1 January

2027 with earlier aplication permited. Retrospective

aplication is required. The Group is curently analysing

the new requirements and asesing the impact of IFRS 18

on the presentation and disclosure of the Group’s financial

statements.

（续）

2.3 已颁布但尚未生效的国际财务

报告准则会计准则（续）

除下文所述之新订国际财务报告

准则会计准则外，本集团预期于

可预见未来应用所有其他经修订

国际财务报告准则会计准则将不

会对综合财务报表造成重大影响。

国际财务报告准则第18号取代

国际会计准则第1号财务报表的

呈列。尽管国际会计准则第1号

的多个部分已被继承并作出有限

变动，但国际财务报告准则第18

号对损益表内的呈列方式引入新

规定，包括指定总计及小计。实

体须将损益表内的所有收入及开

支分类为五个类别之一：经营、

投资、融资、所得税及已终止经

营业务，并呈列两个新界定的小

计。其亦规定在单一附注中披露

管理层界定的绩效指标，并对主

要财务报表及附注中的组合（总计

及分类）及资讯位置提出更高的规

定。之前包含在国际会计准则第

1号的部分规定已移至国际会计准

则第8号会计政策、会计估计变动

及错误，并重新命名为国际会计

准则第8号财务报表的编制基准。

由于国际财务报告准则第18号的

颁布，国际会计准则第7号现金流

量表、国际会计准则第33号每股

盈利及国际会计准则第34号中期

财务报告已作出有限但广泛适用

的修订。此外，其他国际财务报

告准则会计准则亦有轻微相应修

订。国际财务报告准则第18号及

其他国际财务报告准则会计准则

的相应修订于2027年1月1日或之

后开始的年度期间生效，并可提

早应用，且须追溯应用。本集团

现正分析新规定及评估国际财务

报告准则第18号对本集团财务报

表的呈列及披露的影响。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES

Fair value measurement

The Group measures its notes receivable and equity

investments at fair value at the end of each reporting

period. Fair value is the price that would be received

to sel an aset or paid to transfer a liability in an

orderly transaction betwen market participants at the

measurement date. The fair value measurement is based

on the presumption that the transaction to sel the aset

or transfer the liability takes place either in the principal

market for the aset or liability, or in the absence of a

principal market, in the most advantageous market for the

aset or liability. The principal or the most advantageous

market must be acesible by the Group. The fair value of

an aset or a liability is measured using the asumptions

that market participants would use when pricing the aset

or liability, asuming that market participants act in their

economic best interest.

A fair value measurement of a non-financial aset takes

into acount a market participant’s ability to generate

economic benefits by using the aset in its highest and

best use or by seling it to another market participant that

would use the aset in its highest and best use.

The Group uses valuation techniques that are apropriate

in the circumstances and for which suficient data are

available to measure fair value, maximising the use of

relevant observable inputs and minimising the use of

unobservable inputs.

（续）

2.4 主要会计政策

公允价值计量

本集团在每期报告日，以公允价

值计量其应收票据和初始确认时

指定为以公允价值计量且其变动

计入其他综合收益的股权投资。

公允价值是指在计量日，市场参

与者在正常交易活动中销售资产

收到或者清偿债务所支付的金

额。公允价值计量基于假设销售

资产或清偿债务的交易发生于该

资产或债务的主要市场，或者在

缺失主要市场的情况下，发生在

最有利于该资产或负债的市场。

主要市场或者最优市场必须是本

集团可以参与的市场。一项资产

或负债的公允价值计量基于一项

假设，即当市场参与者进行定价

时会考虑使他们的经济利益最大

化。

非金融资产公允价值的计量需考

虑市场参与者在最优化使用该资

产或者将其销售给另一个能够最

优化使用该资产的市场参与者的

情况下产生经济利益的能力。

本集团使用在不同的情形下使用

适当的估值技术，为准确计量公

允价值需获取充足的数据，最大

化使用相关可观测因素，最小化

使用不可观察因素。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES (Continued)

Fair value measurement (Continued)

Al asets and liabilities for which fair value is measured

or disclosed in the financial statements are categorised

within the fair value hierarchy, described as folows, based

on the lowest level input that is significant to the fair value

measurement as a whole:

Level 1–based on quoted prices (unadjusted) in active

markets for identical asets or liabilities

Level 2–based on valuation techniques for which the

lowest level input that is significant to the

fair value measurement is observable, either

directly or indirectly

Level 3–based on valuation techniques for which the

lowest level input that is significant to the fair

value measurement is unobservable

For asets and liabilities that are recognised in the financial

statements on a recuring basis, the Group determines

whether transfers have ocured betwen levels in the

hierarchy by reasesing categorisation (based on the

lowest level input that is significant to the fair value

measurement as a whole) at the end of each reporting

period.

（续）

2.4 主要会计政策（续）

公允价值计量（续）

所有在财务报表以公允价值计量

和披露的资产和负债，可基于最

低级别确定公允价值的相关重要

因素，对公允价值的层级分类，

分类如下：

第一层级－采用活跃市场中未更

正的报价确定特定资

产或负债公允价值

（未经调整）。

第二层级－采用估值技术确定公

允价值的，所有对计

量的公允价值具有重

大影响的数据均为可

观察且可直接或间接

地取自公开市场。

第三层级－采用估值技术确定公

允价值的，所有对计

列的公允价值具有重

大影响的数据并非基

于可观察公开市场数

据。

在资产负债表持续存在的资产和

负债，本集团需考虑公允价值的

层级分类在每期报告日是否发生

转变（基于确定公允价值最低限度

因素的考虑）。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES (Continued)

Impairment of non-financial asets

Where an indication of impairment exists, or when anual

impairment testing for an aset is required (other than

inventories, defered tax asets, financial asets and

non-curent asets), the aset’s recoverable amount is

estimated. An aset’s recoverable amount is the higher of

the aset’s or cash-generating unit’s value in use and its

fair value les costs of disposal, and is determined for an

individual aset, unles the aset does not generate cash

inflows that are largely independent of those from other

asets or groups of asets, in which case the recoverable

amount is determined for the cash-generating unit to which

the aset belongs.

In testing a cash-generating unit for impairment, a

portion of the carying amount of a corporate aset (e.g.,

a headquarters building) is alocated to an individual

cash-generating unit if it can be alocated on a reasonable

and consistent basis or, otherwise, to the smalest group

of cash-generating units.

An impairment los is recognised only if the carying

amount of an aset exceds its recoverable amount. In

asesing value in use, the estimated future cash flows are

discounted to their present value using a pre-tax discount

rate that reflects curent market asesments of the time

value of money and the risks specific to the aset. An

impairment los is charged to profit or los in the period in

which it arises in those expense categories consistent with

the function of the impaired aset.

An asesment is made at the end of each reporting

period as to whether there is an indication that previously

recognised impairment loses may no longer exist or

may have decreased. If such an indication exists, the

recoverable amount is estimated. A previously recognised

impairment los of an aset other than godwil is reversed

only if there has ben a change in the estimates used to

determine the recoverable amount of that aset, but not to

an amount higher than the carying amount that would have

ben determined (net of any depreciation/amortisation) had

no impairment los ben recognised for the aset in prior

years. A reversal of such an impairment los is credited to

profit or los in the period in which it arises.

（续）

2.4 主要会计政策（续）

非金融资产减值

当有资产减值迹象，或需要每年

进行年度减值测试时（除存货、

递延税项资产、金融资产和非流

动资产外），则本集团需估计资产

或现金产生单位的可收回金额。

可收回金额为公允价值减处置成

本及其使用价值两者之中的较高

者，并就个别资产厘定，除非该

项资产生的现金流入很大程度

上不能与其他资产或组别资产独

立区分。在此情况下，需根据资

产所属的现金产生单元的可收回

金额而厘定。

在对现金产出单位进行减值测试

时，如果公司资产（例如，总部大

楼）账面价值的一部分能够在合理

和一致的基础上分配，该部分将

分配给单个现金产生单位，否则

该部分成为最小的现金产生单位

组。

仅当资产的账面价值超过其可收

回金额，该资产视为已经减值。

于评估非金融资产的使用价值

时，估计未来现金流量采用反映

当前市场对货币时间价值的估计

及资产的特定风险的税前折现率

折现至现值。减值损失乃于产生

期间根据减值的资产的相关类别

计入综合损益表内。

于每一报告日评估是否有迹象表

明以前确认的减值损失可能已不

存在或可能降低。倘若存在上述

迹象，则对可收回金额进行估

计。对于一项除商誉以外的资产

来说，只有在用于确认资产可收

回金额的估计发生变动时，以前

确认的减值损失方能转回，但是

该等资产的减值损失转回后的资

产账面金额，不应高于资产以前

年度没有确认减值损失时的账面

金额（减去摊销和折旧）。该减值

损失的转回计入其发生当期的综

合损益表。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES (Continued)

Related parties

A party is considered to be related to the Group if:

(a) the party is a person or a close member of that

person’s family and that person

(i) has control or joint control over the Group;

(i) has significant influence over the Group; or

(i) is a member of the key management

personel of the Group or of a parent of the

Group;

(b) the party is an entity where any of the folowing

conditions aplies:

(i) the entity and the Group are members of the

same group;

(i) one entity is an asociate or joint venture of

the other entity (or of a parent, subsidiary or

felow subsidiary of the other entity);

(i) the entity and the Group are joint ventures of

the same third party;

(iv) one entity is a joint venture of a third entity

and the other entity is an asociate of the

third entity;

（续）

2.4 主要会计政策（续）

关联方

下列各方视为与本集团有关联：

(a) 对方为下述(i)至(i)中提及

的任何人士及其近亲属：

(i) 控制本集团，或对

本集团拥有共同控

制；

(i) 对本集团有重大影

响；或

(i) 本集团或本集团之

母公司关键管理人

员的成员之一；

或

(b) 对方为下述(i)至(vi)中提及

的任何实体：

(i) 对方与本集团同属

同一集团控制下；

(i) 一实体为另一实体

的联营或合营企业

（或母公司、附属公

司或同属同一集团

控制下企业）；

(i) 对方与本集团同属

同一第三方的合营

企业；

(iv) 一实体为第三方实

体之合营企业，另

一方为同一第三方

实体之联营企业；

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES (Continued)

Related parties (Continued)

(v) the entity is a post-employment benefit plan

for the benefit of employes of either the

Group or an entity related to the Group;

(vi) the entity is controled or jointly controled by

a person identified in (a);

(vi) a person identified in (a)(i) has significant

influence over the entity or is a member of

the key management personel of the entity

(or of a parent of the entity); and

(vi) the entity, or any member of a group of

which it is a part, provides key management

personel services to the Group or to the

parent of the Group.

Property, plant and equipment and depreciation

Property, plant and equipment, other than construction in

progres, are stated at cost les acumulated depreciation

and any impairment loses. The cost of an item of

property, plant and equipment comprises its purchase

price and any directly atributable costs of bringing the

aset to its working condition and location for its intended

use.

Expenditure incured after items of property, plant and

equipment have ben put into operation, such as repairs

and maintenance, is normaly charged to profit or los in

the period in which it is incured. In situations where the

recognition criteria are satisfied, the expenditure for a major

inspection is capitalised in the carying amount of the aset

as a replacement. Where significant parts of property, plant

and equipment are required to be replaced at intervals,

the Group recognises such parts as individual asets with

specific useful lives and depreciates them acordingly.

（续）

2.4 主要会计政策（续）

关联方（续）

(v) 对方系为本集团或

与本集团有关的实

体之雇员设定离职

后福利计划的实体；

(vi) 对方受上述(a)中提

及人士之控制或共

同控制；

(vi) 上述(a)(i)中提及人

士对方具有重大

影响，或为对方或

其母公司关键管理

人员的成员之一；

和

(vi) 对方或对方成员向

本集团或本集团之

母公司提供关键管

理人员。

物业、厂房及设备及折旧

除在建工程外，物业、厂房及设

备以成本减累计折旧及任何减值

亏损入账。物业、厂房和设备的

成本包括其购买价及资产运抵指

定地点并使其达到能够按照预定

的方式进行运作状态的直接可归

属成本。

物业、厂房和设备投入运作后所

发生的支出，如维修及保养费

等，通常在费用发生当期计入损

益。在满足确认条件的情况下，

重大检查支出应当作为重置成本

予以资本化计入资产的账面价

值。如果物业、厂房和设备的重

要组成部分在使用期间内进行了

更换，本集团会确认该等部分为

有特定可使用年期的个别资产，

并对其作出相应折旧。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES (Continued)

Property, plant and equipment and depreciation

(Continued)

Depreciation is calculated on the straight-line basis to write

of the cost of each item of property, plant and equipment

to its residual value over its estimated useful life. The

principal anual rates used for this purpose are as folows:

Buildings4.5% to 9.0%

Plant and machinery9.0% to 18.00%

Instruments and tols18.0% to 30.0%

Furniture, fixtures and

ofice equipment

18.0% to 30.0%

Motor vehicles22.5%

Where parts of an item of property, plant and equipment

have diferent useful lives, the cost of that item is alocated

on a reasonable basis among the parts and each part is

depreciated separately. Residual values, useful lives and

the depreciation method are reviewed, and adjusted if

apropriate, at least at each financial year end.

An item of property, plant and equipment including any

significant part initialy recognised is derecognised upon

disposal or when no future economic benefits are expected

from its use or disposal. Any gain or los on disposal or

retirement recognised in the statement of profit or los

in the year the aset is derecognised is the diference

betwen the net sales proceds and the carying amount

of the relevant aset.

Construction in progres is stated at cost les any

impairment loses, and is not depreciated. It is reclasified

to the apropriate category of property, plant and

equipment when completed and ready for use.

（续）

2.4 主要会计政策（续）

物业、厂房及设备及折旧（续）

折旧以直线法按各项物业、厂房

及设备的估计可使用年期将其成

本撇销至其剩余价值计算。就此

使用的主要年率如下：

建筑物4.5%至9.0%

厂房及机器9.0%至18.0%

仪器及工具18.0%至30.0%

家具、装置及

办公室设备

18.0%至30.0%

汽车22.5%

当物业、厂房及设备的各部分可

使用年限不同时，则该项目的成

本按合理基准分配至各部分，而

各部分将独立计算折旧。于各报

告日对剩余价值、可使用年期及

折旧方法进行覆核，并于需要时

做出调整，至少于每年报告日进

行覆核或调整。

物业、厂房及设备项目包括任何

初始确认的重大部件于处置或预

期日后使用或处置不会有任何经

济利益时终止确认。处置或报废

收益或损失指出售所得款项净额

与有关资产账面价值之差额，于

终止确认资产当年的综合损益表

确认。

在建工程按成本减任何减值损失

入账而不计提折旧。在建工程于

落成可用时按适当类别重分类至

物业、厂房及设备。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES (Continued)

Intangible asets

Intangible asets acquired separately are measured on

initial recognition at cost. The cost of intangible asets

acquired in a busines combination is the fair value as at

the date of acquisition. The useful lives of intangible asets

are asesed to be either finite or indefinite. Intangible

asets with finite lives are subsequently amortised over the

useful economic life and asesed for impairment whenever

there is an indication that the intangible aset may be

impaired. The amortisation period and the amortisation

method for an intangible aset with a finite useful life are

reviewed at least at each financial year end.

Intangible asets with indefinite useful lives are tested

for impairment anualy either individualy or at the

cash-generating unit level. Such intangible asets are not

amortised. The useful life of an intangible aset with an

indefinite life is reviewed anualy to determine whether the

indefinite life asesment continues to be suportable. If

not, the change in the useful life asesment from indefinite

to finite is acounted for on a prospective basis.

Golf membership

Purchased membership is stated at cost les any

impairment loses and asesed for impairment at each

year end.

Software

A purchased software is stated at cost les any impairment

loses and is amortised on the straight-line basis over its

estimated useful life of five years.

Licence

Purchased licence is stated at cost les any impairment

loses and is amortised on the straight-line basis over its

estimated useful life of five years.

（续）

2.4 主要会计政策（续）

无形资产

单独取得之无形资产乃按取得时

成本计量。通过企业合并取得之

无形资产乃按收购时点之公允价

值计量。无形资产的可使用年限

列为有限期或无限期。有限期的

无形资产按可使用经济年期摊

销，并于有迹象显示无形资产可

能出现减值时评估减值。有限期

的无形资产的摊销期及摊销方法

至少于每年报告日进行覆核。

具有不确定使用年限的无形资

产，每年单独或以现金产生单元

（现金产生单元组）为基础进行减

值测试。这类资产无需摊销。具

有不确定使用年限的无形资产的

使用年限，应每年进行审阅，以

评定不确定使用年限的判断是否

继续有效。若该估计不再适用，

使用年限的预测由无限期改为有

限期，并采用未来适用法。

高尔夫会员

购买的会籍按成本减任何减值亏

损列值，并在每年底进行减值

评估。

软件

购买的软件按成本减任何减值亏

损列值，并在其估计可使用年限

五年内按直线法摊销。

执照

购买的许可证按成本减任何减值

亏损列账，并在其估计可使用年

限五年内按直线法摊销。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES (Continued)

Research and development costs

Al research costs are charged to the statement of profit or

los as incured.

Expenditure incured on projects to develop new products

is capitalised and defered only when the Group can

demonstrate the technical feasibility of completing the

intangible aset so that it wil be available for use or

sale, its intention to complete and its ability to use or sel

the aset, how the aset wil generate future economic

benefits, the availability of resources to complete the

project and the ability to measure reliably the expenditure

during the development. Product development expenditure

which does not met these criteria is expensed when

incured.

Leases

The Group aseses at contract inception whether a

contract is, or contains, a lease. A contract is, or contains,

a lease if the contract conveys the right to control the use

of an identified aset for a period of time in exchange for

consideration.

Group as a lese

The Group aplies a single recognition and measurement

aproach for al leases, except for short-term leases and

leases of low-value asets. The Group recognises lease

liabilities to make lease payments and right-of-use asets

representing the right to use the underlying asets.

（续）

2.4 主要会计政策（续）

研发费用

所有研究费用于产生时计入综合

损益表内。

新产品开发项目产生的开支仅于

本集团证明在技术上能够完成无

形资产供使用或出售、有意完成

及有能力使用或出售该资产、该

资产将带来的未来经济利益、具

有完成项目所需的资源且本集团

能够可靠地计量开发期间的开支

时，方会拨充资本并以递延方式

入账。不满足上述要求的研发费

用和产品开发支出在发生时确认

为费用。

租赁

本集团于合约开始时评估合约是

否为或包含租赁。倘合约为换取

代价而给予在一段时间内控制已

识别资产使用的权利，则该合约

分类为租赁或包含租赁。

本集团作为承租人

本集团对所有租赁采取单一确认

及计量方法，短期租赁及低价值

资产租赁除外。本集团确认租赁

负债以作出租赁款项，而使用权

资产指使用相关资产的权利。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES (Continued)

Group as a lese (Continued)

(a) Right-of-use asets

Right-of-use asets are recognised at the

comencement date of the lease (that is the

date the underlying aset is available for use).

Right-of-use asets are measured at cost, les

any acumulated depreciation and any impairment

loses, and adjusted for any remeasurement of

lease liabilities. The cost of right-of-use asets

includes the amount of lease liabilities recognised,

initial direct costs incured, and lease payments

made at or before the comencement date les any

lease incentives received. Right-of-use asets are

depreciated on a straight-line basis over the shorter

of the lease terms and the estimated useful lives of

the asets as folows:

Leasehold land39 to 50 years

Buildings1 to 5 years

If ownership of the leased aset transfers to

the Group by the end of the lease term or the

cost reflects the exercise of a purchase option,

depreciation is calculated using the estimated useful

life of the aset.

（续）

2.4 主要会计政策（续）

本集团作为承租人（续）

(a) 使用权资产

本集团于租赁开始日期（即

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES (Continued)

Group as a lese (Continued)

(b) Lease liabilities

Lease liabilities are recognised at the

comencement date of the lease at the present

value of lease payments to be made over the

lease term. The lease payments include fixed

payments (including in-substance fixed payments)

les any lease incentives receivable, variable lease

payments that depend on an index or a rate, and

amounts expected to be paid under residual value

guarantes. The lease payments also include the

exercise price of a purchase option reasonably

certain to be exercised by the Group and payments

of penalties for termination of a lease, if the lease

term reflects the Group exercising the option to

terminate the lease. The variable lease payments

that do not depend on an index or a rate are

recognised as an expense in the period in which the

event or condition that trigers the payment ocurs.

In calculating the present value of lease payments,

the Group uses its incremental borowing rate at

the lease comencement date because the interest

rate implicit in the lease is not readily determinable.

After the comencement date, the amount of lease

liabilities is increased to reflect the acretion of

interest and reduced for the lease payments made.

In adition, the carying amount of lease liabilities

is remeasured if there is a modification, a change

in the lease term, a change in lease payments

(e.g., a change to future lease payments resulting

from a change in an index or rate) or a change in

asesment of an option to purchase the underlying

aset.

The Group elected to present the lease liabilities

separately in the statement of financial position.

（续）

2.4 主要会计政策（续）

本集团作为承租人（续）

(b) 租赁负债

本集团于租赁开始日期确

认以租赁期内作出的租赁

款项现值计量租赁负债。

租赁款项包括定额付款（含

实质定额款项）减任何应

收租赁奖励款项、取决于

指数或利率的可变租赁款

项以及预期根据剩余价值

担保下支付的金额。租赁

款项亦包括本集团合理确

定行使的购买选择权的行

使价及倘在租赁期内反映

本集团正行使终止选择权

时，有关终止租赁支付的

罚款。不取决于指数或利

率的可变租赁款项在出现

触发付款的事件或条件的

期间内确认为支出。

于计算租赁款项的现值

时，由于租赁内所含利率

不易厘定，故本集团应用

租赁开始日期的增量借款

利率计算。于开始日期

后，租赁负债金额的增加

反映利息的增加，并因支

付租赁款项而减少。此

外，倘存在租期的修改以

及租期变更、实质定额租

赁付款变更（例如指数或比

率的变动导致对未来租赁

付款变更）或购买相关资产

的评估的变更，则重新计

量租赁负债的账面值。

本集团选择在财务状况表

中单独列报租赁负债。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES (Continued)

Group as a lese (Continued)

The Group aplies the short-term lease recognition

exemption to its short-term leases of building,

machinery and equipment that is those leases that

have a lease term of 12 months or les from the

comencement date and do not contain a purchase

option. It also aplies the recognition exemption

for leases of low-value asets to leases of ofice

equipment that is considered to be of low value.

Lease payments on short-term leases and leases of

low-value asets are recognised as an expense on a

straight-line basis over the lease term.

Investments and other financial asets

Initial recognition and measurement

Financial asets are clasified, at initial recognition, as

subsequently measured at amortised cost, fair value

through other comprehensive income, and fair value

through profit or los.

The clasification of financial asets at initial recognition

depends on the financial aset’s contractual cash flow

characteristics and the Group’s busines model for

managing them. With the exception of trade receivables

that do not contain a significant financing component or for

which the Group has aplied the practical expedient of not

adjusting the efect of a significant financing component,

the Group initialy measures a financial aset at its fair

value plus in the case of a financial aset not at fair value

through profit or los, transaction costs. Trade receivables

that do not contain a significant financing component or for

which the Group has aplied the practical expedient are

measured at the transaction price determined under IFRS

15 in acordance with the policies set out for “Revenue

recognition” below.

（续）

2.4 主要会计政策（续）

本集团作为承租人（续）

赁

本集团将短期租赁确认豁

免应用于其建筑物、机器

及设备的短期办公租赁（即

自租赁开始日期起计租期

为十二个月或以下，并且

不包含购买选择权的租

赁）。当本集团就一项低价

值资产订立租赁时，本集

团决定是否以个别租赁的

方式将租赁资本化。

短期租赁的租赁款项及低

价值资产租赁在租期内按

直线法确认为支出。

投资及其他金融资产

初始确认及计量

金融资产在初始确认时分类为随

后以摊销成本计量、按公允价值

计入其他综合损益及按公允价值

计入损益。

金融资产于初始确认时的分类取

决于金融资产的合同现金流量特

征，以及本集团管理金融资产的

业务模式。除不包括重大融资部

分的贸易应收款或本集团已应用

无须调整重大融资部分影响的可

行权宜方法者外，本集团按其公

允价值加交易成本（如金融资产并

非按公允价值计入损益）初始计量

金融资产。不包括重大融资部分

的贸易应收款或本集团已就其应

用可行权宜方法的资产，则根据

下文「收益确认」所载政策按基于

国际财务报告准则第15号规定的

交易价格计量。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES (Continued)

Investments and other financial asets (Continued)

Initial recognition and measurement (Continued)

In order for a financial aset to be clasified and

measured at amortised cost or fair value through other

comprehensive income, it neds to give rise to cash flows

that are solely payments of principal and interest (“SPI”)

on the principal amount outstanding. Financial asets with

cash flows that are not SPI are clasified and measured

at fair value through profit or los, irespective of the

busines model.

The Group’s busines model for managing financial asets

refers to how it manages its financial asets in order to

generate cash flows. The busines model determines

whether cash flows wil result from colecting contractual

cash flows, seling the financial asets, or both. Financial

asets clasified and measured at amortised cost are

held within a busines model with the objective to hold

financial asets in order to colect contractual cash flows,

while financial asets clasified and measured at fair value

through other comprehensive income are held within a

busines model with the objective of both holding to colect

contractual cash flows and seling. Financial asets which

are not held within the aforementioned busines models

are clasified and measured at fair value through profit or

los.

Purchases or sales of financial asets that require delivery

of asets within the period generaly established by

regulation or convention in the marketplace are recognised

on the trade date, that is, the date that the Group comits

to purchase or sel the aset.

（续）

2.4 主要会计政策（续）

投资及其他金融资产（续）

初始确认及计量（续）

为使金融资产按摊销成本或按公

允价值计入其他综合溢利分类及

计量，金融资产须产生纯粹为支

付本金及尚未偿还本金的利息

（「SPI」）的现金流量。具有非

SPI现金流的金融资产按公允价

值通过损益进行分类和计量，和

业务模式无关。

本集团管理金融资产的业务模式

指其管理金融资产以产生现金流

量的方式。业务模式决定现金流

量是否通过收取合同现金流量、

销售金融资产或两者并行的方式

产生。在持有金融资产的目的为

收取合同现金流的业务模式下，

金融资产分类为以摊余成本计

量；在持有金融资产的目的为收

取合同现金流及出售的业务模式

下，金融资产分类为以公允价值

计量且其变动计入其他综合收

益；在除上述之外的业务模式下

持有的金融资产分类为以公允价

值计量且其变动计入损益。

购置或出售须于市场规则或惯例

所设定的时间范围内交付资产的

金融资产于交易日（交易日即本集

团承诺购买或出售资产的日期）确

认。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES (Continued)

Investments and other financial asets (Continued)

Subsequent measurement

The subsequent measurement of financial asets depends

on their clasification as folows:

Financial asets at amortised cost (debt instruments)

Financial asets at amortised cost are subsequently

measured using the efective interest method and are

subject to impairment. Gains and loses are recognised in

profit or los when the aset is derecognised, modified or

impaired.

Financial asets at fair value through other comprehensive

income (debt instruments)

For debt investments at fair value through other

comprehensive income, interest income, foreign exchange

revaluation and impairment loses or reversals are

recognised in profit or los and computed in the same

maner as for financial asets measured at amortised

cost. The remaining fair value changes are recognised

in other comprehensive income. Upon derecognition,

the cumulative fair value change recognised in other

comprehensive income is recycled to profit or los.

Financial asets designated at fair value through other

comprehensive income (equity investments)

Upon initial recognition, the Group can elect to clasify

irevocably its equity investments as equity investments

designated at fair value through other comprehensive

income when they met the definition of equity under

IAS 32 Financial Instruments: Presentation and are not

held for trading. The clasification is determined on an

instrument-by-instrument basis.

（续）

2.4 主要会计政策（续）

投资及其他金融资产（续）

后续计量

金融资产的后续计量，取决于其

分类：

按摊销成本计量的金融资产（债务

工具）

按摊销成本计量的金融资产随后

采用实际利率法计量，可能出现

减值。当资产终止确认、经修改

或出现减值时，收益及亏损于损

益表内确认。

按公允价值列账计入其他综合损

益的金融资产（债务工具）

对于以公允价值计量且其变动计

入其他综合收益的债权投资，利

息收入、汇兑重估及减值损失或

转回均计入当期损益，其计算方

法与以摊余成本计量的金融资产

相同。其余公允价值变动计入其

他综合收益。终止确认后，计入

其他综合收益的累计公允价值变

动转至计入损益。

按公允价值计量且其变动计入其

他综合收益的金融资产（权益工

具）

初始确认时，本集团可选择将符

合国际会计准则第32号金融工

具：呈列项下权益定义的权益投

资不可撤销地分类为按公允价值

计量且其变动计入其他综合收益

的权益工具。该分类乃按各工具

逐一厘定。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES (Continued)

Investments and other financial asets (Continued)

Financial asets designated at fair value through other

comprehensive income (equity investments) (Continued)

Gains and loses on these financial asets are never

recycled to the statement of profit or los. Dividends are

recognised as other income in the statement of profit or

los when the right of payment has ben established,

except when the Group benefits from such proceds as a

recovery of part of the cost of the financial aset, in which

case, such gains are recorded in other comprehensive

income. Equity investments designated at fair value through

other comprehensive income are not subject to impairment

asesment.

Derecognition of financial asets

A financial aset (or, where aplicable, a part of a financial

aset or part of a group of similar financial asets) is

primarily derecognised (i.e., removed from the Group’s

consolidated statement of financial position) when:

• the rights to receive cash flows from the aset have

expired; or

• the Group has transfered its rights to receive

cash flows from the aset or has asumed an

obligation to pay the received cash flows in ful

without material delay to a third party under a

“pas-through” arangement; and either (a) the

Group has transfered substantialy al the risks

and rewards of the aset, or (b) the Group has

neither transfered nor retained substantialy al the

risks and rewards of the aset, but has transfered

control of the aset.

（续）

2.4 主要会计政策（续）

投资及其他金融资产（续）

按公允价值计量且其变动计入其

他综合收益的金融资产（权益工

具）（续）

该等金融资产的收益及亏损不会

划转至损益。股息于当偿付权确

立时于损益表确认为其他收入，

除非本集团将该等款项作为收回

部分金融资产成本而从中受益，

于此情况下，该等收益录入其他

综合收益。按公允价值计量且其

变动计入其他综合收益的权益工

具毋须进行减值评估。

金融资产终止确认

在下列情况下，一项金融资产（可

适用于某项金融资产的一部分，

或一组同类金融资产的一部分）须

主要终止确认（如：从本集团的综

合财务状况报表中移除）：

• 从资产收取现金流量的权

利已经届满；或

• 本集团已转移从资产收取

现金流量的权利，或已根

据「转付」安排有责任在无

重大延误的情况下将有关

现金全额付予第三方；以

及(a)本集团已转让与此项

资产相关的绝大部分风险

及回报；或(b)本集团并无

转让或保留资产绝大部分

风险及回报，但已转让资

产的控制权。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES (Continued)

Derecognition of financial asets (Continued)

When the Group has transfered its rights to receive cash

flows from an aset or has entered into a pas-through

arangement, it evaluates if, and to what extent, it has

retained the risk and rewards of ownership of the aset.

When it has neither transfered nor retained substantialy

al the risks and rewards of the aset nor transfered

control of the aset, the Group continues to recognise the

transfered aset to the extent of the Group’s continuing

involvement. In that case, the Group also recognises

an asociated liability. The transfered aset and the

asociated liability are measured on a basis that reflects

the rights and obligations that the Group has retained.

Continuing involvement that takes the form of a guarante

over the transfered aset is measured at the lower of the

original carying amount of the aset and the maximum

amount of consideration that the Group could be required

to repay.

Impairment of financial asets

The Group recognises an alowance for expected credit

loses (“ECLs”) for al debt instruments not held at fair

value through profit or los. ECLs are based on the

diference betwen the contractual cash flows due in

acordance with the contract and al the cash flows

that the Group expects to receive, discounted at an

aproximation of the original efective interest rate. The

expected cash flows wil include cash flows from the sale

of colateral held or other credit enhancements that are

integral to the contractual terms.

（续）

2.4 主要会计政策（续）

金融资产终止确认（续）

当本集团已将从资产收取现金流

量的权利转移或签订了「转付」

安排，其会评估有否保留该资产

所有权的风险以及回报以及其程

度。当本集团既没有转移也没有

保留与资产相关的绝大部分风险

和报酬，且未转让对该资产之控

制，本集团继续确认该转移资产

并以本集团之继续涉入为限。在

此情况下，集团须确认相关负

债。已转让之资产及相关负债之

计量以本集团保留之权利及义务

为基础。

以对所转让资产作出担保为形式

的继续涉及，以资产原账面值与

本集团可能须偿还的最高代价金

额中的较低者计量。

金融资产减值

本集团就所有并非按公允价值计

入损益持有的债务工具确认预期

信贷亏损准备。预期信贷亏损乃

以根据合同应付的合同现金流量

与本集团预期收取的所有现金流

量之间的差额为基准，按与原有

实际利率相近的利率贴现。预期

现金流量将包括来自销售所持有

抵押品或其他信贷增级的现金流

量，此乃合同不可或缺的部分。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES (Continued)

Impairment of financial asets (Continued)

General aproach

ECLs are recognised in two stages. For credit exposures

for which there has not ben a significant increase in credit

risk since initial recognition, ECLs are provided for credit

loses that result from default events that are posible

within the next 12 months (a 12-month ECL). For those

credit exposures for which there has ben a significant

increase in credit risk since initial recognition, a los

alowance is required for credit loses expected over the

remaining life of the exposure, irespective of the timing of

the default (a lifetime ECL).

At each reporting date, the Group aseses whether

the credit risk on a financial instrument has increased

significantly since initial recognition. When making the

asesment, the Group compares the risk of a default

ocuring on the financial instrument as at the reporting

date with the risk of a default ocuring on the financial

instrument as at the date of initial recognition and

considers reasonable and suportable information that is

available without undue cost or efort, including historical

and forward-loking information.

The Group considers a financial aset in default when

contractual payments are 180 days past due. However,

in certain cases, the Group may also consider a financial

aset to be in default when internal or external information

indicates that the Group is unlikely to receive the

outstanding contractual amounts in ful before taking into

acount any credit enhancements held by the Group. A

financial aset is writen of when there is no reasonable

expectation of recovering the contractual cash flows.

A financial aset is writen of when there is no reasonable

expectation of recovering the contractual cash flows.

Debt investments at fair value through other comprehensive

income and financial asets at amortised cost are subject

to impairment under the general aproach and they are

clasified within the folowing stages for measurement of

ECLs except for trade receivables and contract asets

which aply the simplified aproach as detailed below.

（续）

2.4 主要会计政策（续）

金融资产减值（续）

一般方法

预期信贷亏损于两个阶段确认。

对于自初始确认后并无显著增加

的信贷风险，预期信贷亏损就可

能于12个月内（12个月预期信贷

亏损）出现的违约事件导致的信用

亏损计提拨备。对于自初始后有

显著增加的信贷风险，须在信贷

亏损风险预期的剩余年限计提亏

损拨备，不论违约事件何时发生

（存续期预期信贷亏损）。

本集团于各报告日评估金融工具

信贷风险自初始确认后有否显著

增加。进行评估时，本集团将于

报告日金融工具发生违约的风险

与初始确认日期金融工具发生违

约的风险比较，并考虑无需付出

不必要的额外成本或努力即可获

取的合理且有证据支持的信息，

包括历史及前瞻性信息。

当合同付款逾期180天时，本集团

认为金融资产违约。然而，在某

些情况下，倘内部或外部资料反

映，在没有计及本集团任何现有

信贷提升措施前，本集团不大可

能悉数收到未偿还合约款项，则

本集团亦可认为金融资产将会违

约。

金融资产于无合理预期可收回合

约现金流时撇销。

以公允价值计量且其变动计入其

他综合收益的债务投资和以摊余

成本计量的金融资产在一般方法

下发生减值，除贸易应收款及合

同资产采用下列简化方法外，按

摊销成本计量的金融资产按一般

方法进行减值，并按下列预期信

贷亏损计量阶段分类。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES (Continued)

Impairment of financial asets (Continued)

General aproach (Continued)

Stage 1–Financial instruments for which credit risk

has not increased significantly since initial

recognition and for which the los alowance

is measured at an amount equal to 12-month

ECLs

Stage 2–Financial instruments for which credit risk has

increased significantly since initial recognition

but that are not credit-impaired financial

asets and for which the los alowance is

measured at an amount equal to lifetime ECLs

Stage 3–Financial asets that are credit-impaired at

the reporting date (but that are not purchased

or originated credit-impaired) and for which

the los alowance is measured at an amount

equal to lifetime ECLs

Simplified aproach

For trade receivables that do not contain a significant

financing component or when the Group aplies the

practical expedient of not adjusting the efect of a

significant financing component, the Group aplies

the simplified aproach in calculating ECLs. Under the

simplified aproach, the Group does not track changes in

credit risk, but instead recognises a los alowance based

on lifetime ECLs at each reporting date. The Group has

established a provision matrix that is based on its historical

credit los experience, adjusted for forward-loking factors

specific to the debtors and the economic environment.

（续）

2.4 主要会计政策（续）

金融资产减值（续）

一般方法（续）

阶段一：信贷风险自初始确认

后并无显著增加的金

融工具，亏损拨备按

等同12个月预期信

贷亏损的金额计量

阶段二：信贷风险自初始确认

后显著增加但未发生

信贷减值的金融工

具，亏损拨备按等同

存续期预期信贷亏损

的金额计量

阶段三：于报告日为信贷减值

的金融资产（但于购

买或发起时并无信贷

减值），亏损拨备按

等同存续期预期信贷

亏损的金额计量

简化方法

对于并无包含重大融资部分的贸

易应收款项，或本集团采用无须

调整重大融资部分影响的可行权

宜方式时，采用简化方法计量预

期信贷亏损。根据简化方法，本

集团不会追踪信贷风险的变化，

而是根据每个报告日期的存续期

预期信贷亏损确认亏损拨备。本

集团已根据历史信贷亏损经验建

立亏损矩阵，并根据债务人及经

济环境的前瞻性因素作出调整。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES (Continued)

Financial liabilities

Initial recognition and measurement

Financial liabilities are clasified, at initial recognition, as

financial liabilities at fair value through profit or los, loans

and borowings, payables, or as derivatives designated as

hedging instruments in an efective hedge, as apropriate.

Al financial liabilities are recognised initialy at fair value

and, in the case of loans and borowings and payables,

net of directly atributable transaction costs.

The Group’s financial liabilities include trade and notes

payables, financial liabilities included in other payables and

acruals and lease liabilities.

Subsequent measurement

The subsequent measurement of financial liabilities

depends on their clasification as folows:

Financial liabilities at amortised cost (trade and note

payables, other payables, and lease liability)

After initial recognition, trade and notes payables, other

payables and lease liabilities are subsequently measured

at amortised cost, using the efective interest rate method

unles the efect of discounting would be imaterial, in

which case they are stated at cost. Gains and loses

are recognised in profit or los when the liabilities are

derecognised as wel as through the efective interest rate

amortisation proces.

Amortised cost is calculated by taking into acount any

discount or premium on acquisition and fes or costs

that are an integral part of the efective interest rate. The

efective interest rate amortisation is included in finance

costs in profit or los.

（续）

2.4 主要会计政策（续）

金融负债

初步确认及计量

在初始确认时，金融负债应按适

当之形式分类为以公允价值计量

且变动计入损益之金融负债、银

行借款及其他借款、应付款项，

或指定为套期保值工具的衍生金

融工具（视情况而定）。

金融负债进行初始确认时，以其

公允价值计量。倘若金融负债为

银行借款及其他借款及应付款

项，以公允价值减去直接交易成

本计量。

本集团的金融负债包括应付贸易

款项及应付票据，其他应付款

项，以公允价值计量且其变动计

入损益之金融负债及租赁负债。

后续计量

金融负债的后续计量取决于其分

类：

以摊余成本计量的金融负债（贸

易，其他应付款及租赁负债）

初始确认后，贸易，其他应付款

及租赁负债采用实际利率法按摊

余成本计量。倘若折现影响属非

重大，按成本计量。实际利率法

的摊销及金融负债终止确认时的

相关损益于综合损益表中确认。

计算摊余成本时，应考虑购买时

产生的任何折价或溢价，包括费

用和交易成本并以实际利率计算

摊销。实际利率摊销计入综合损

益表之财务成本。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES (Continued)

Derecognition of financial liabilities

A financial liability is derecognised when the obligation

under the liability is discharged or canceled, or expires.

When an existing financial liability is replaced by another

from the same lender on substantialy diferent terms,

or the terms of an existing liability are substantialy

modified, such an exchange or modification is treated as

a derecognition of the original liability and a recognition of

a new liability, and the diference betwen the respective

carying amounts is recognised in the statement of profit or

los.

Ofseting of financial instruments

Financial asets and financial liabilities are ofset and the

net amount is reported in the statement of financial position

if there is a curently enforceable legal right to ofset the

recognised amounts and there is an intention to setle on

a net basis, or to realise the asets and setle the liabilities

simultaneously.

Treasury shares

Own equity instruments which are reacquired and held

by the Group (treasury shares) are recognised directly

in equity at cost. No gain or los is recognised in the

statement of profit or los on the purchase, sale, isue or

cancelation of the Group’s own equity instruments.

Inventories

Inventories are stated at the lower of cost and net

realisable value. Cost is determined on a weighted average

basis and, in the case of work in progres and finished

gods, comprises direct materials, direct labour and an

apropriate proportion of overheads. Net realisable value is

based on estimated seling prices les estimated costs to

be incured to completion and disposal.

（续）

2.4 主要会计政策（续）

终止确认金融负债

如果金融负债的责任已被解除、

撤销或届满，则对金融负债进行

终止确认。

如果现有金融负债被同一债权人

以实质上几乎全部不同条款的另

一金融负债取代，或者现有负债

的条款几乎全部被实质性修改，

则此类替换或修改作为终止确认

原负债和确认新负债处理，并且

两者账面金额的差异计入损益表。

金融工具抵消

当且仅当企业有意图且有现时法

定权利抵消已确认之金融资产与

金融负债，或同时变现金融资产

及清偿金融负债时，金融资产与

金融负债以相互抵消后的净额于

综合财务状况报表中列示。

库存股份

由本公司或受托人重新购回并持

有的自身权益工具（库存股份）按

成本直接于权益确认。购买、出

售、发行或注销本集团自身的权

益工具概无于损益表中确认收益

或亏损。

存货

存货按成本与可变现净值的较低

者入账。成本按加权平均基准计

算，在制品及制成品的成本包括

直接材料、直接人工及按适当比

例计算之间接成本。可变现净值

按预计售价减去任何预计完成及

销售所需的成本计算。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES (Continued)

Cash and cash equivalents

Cash and cash equivalents in the statement of financial

position comprise cash on hand and at banks, and

short-term highly liquid deposits with a maturity of generaly

within thre months that are readily convertible into known

amounts of cash, subject to an insignificant risk of changes

in value and held for the purpose of meting short-term

cash comitments.

For the purpose of the consolidated statement of cash

flows, cash and cash equivalents comprise cash on hand

and at banks, and short-term deposits as defined above,

les bank overdrafts which are repayable on demand and

form an integral part of the Group’s cash management.

Provisions

A provision is recognised when a present obligation (legal

or constructive) has arisen as a result of a past event and

it is probable that a future outflow of resources wil be

required to setle the obligation, provided that a reliable

estimate can be made of the amount of the obligation.

When the Group expects some or al of a provision to be

reimbursed, for example, under an insurance contract, the

reimbursement is recognised as a separate aset, but only

when the reimbursement is virtualy certain. The expense

relating to a provision is presented in the statement of

profit or los net of any reimbursement.

When the efect of discounting is material, the amount

recognised for a provision is the present value at the end

of the reporting period of the future expenditures expected

to be required to setle the obligation. The increase in the

discounted present value amount arising from the pasage

of time is included in finance costs in the statement of

profit or los.

The Group provides for waranties in relation to the sale

of certain industrial products during the waranty period.

Provisions for these asurance-type waranties granted by

the Group are initialy recognised based on sales volume

and past experience of the level of returns, discounted to

their present values as apropriate. The waranty-related

cost is revised anualy.

（续）

2.4 主要会计政策（续）

现金及现金等价物

就综合财务状况报表而言，现金

及现金等价物包括库存现金和银

行存款，以及流动性强、易转换

成已知金额的现金、价值变动风

险很小、且为买足短期现金承诺

而持有的购买时到期日通常为三

个月内的短期投资

就综合现金流量表而言，现金及

现金等价物包括库存现金和活期

存款，和满足上述定义的短期存

款，减去作为本集团现金管理一

项组成部分的见票即付的银行票

据。

拨备

因过去事项而需要承担现时义务

（法定或推定），而履行该义务很

可能导致经济利益的流出，且该

义务的金额能够可靠地估计，则

应确认拨备。

当本集团预计部分或全部准备金

将得到偿付时，（例如保险合同，

其仅当偿付经评估确定为既定事

项后，方可确认为单独资产）与准

备金相关的费用在扣除任何补偿

后的损益表中列报。

如果货币时间价值的影响重大，

准备的金额应是履行义务预期所

需支出在财务报表日的现值。随

时间推移增加的现值金额计入综

合损益表的财务成本。

本集团就在质保期内发生的某些

产品的销售和提供一般维修缺陷

的施工服务提供质保。本集团授

予的这些保证类保证的拨备是根

据销量和过往维修和退货水平的

经验确认的，并酌情折现至其现

值。质保所导致的相关成本每年

都会进行修订。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES (Continued)

Income tax

Income tax comprises curent and defered tax. Income

tax relating to items recognised outside profit or los

is recognised outside profit or los, either in other

comprehensive income or directly in equity.

Curent tax asets and liabilities are measured at the

amount expected to be recovered from or paid to the

taxation authorities, based on tax rates (and tax laws)

that have ben enacted or substantively enacted by the

end of the reporting period, taking into consideration

interpretations and practices prevailing in the countries in

which the Group operates.

Defered tax is provided, using the liability method, on al

temporary diferences at the end of the reporting period

betwen the tax bases of asets and liabilities and their

carying amounts for financial reporting purposes.

Defered tax liabilities are recognised for al taxable

temporary diferences, except:

• when the defered tax liability arises from the initial

recognition of an aset or liability in a transaction

that is not a busines combination and, at the time

of the transaction, afects neither the acounting

profit nor taxable profit or los and does not give

rise to equal taxable and deductible temporary

diferences; and

• in respect of taxable temporary diferences

asociated with investments in subsidiaries

when the timing of the reversal of the temporary

diferences can be controled and it is probable that

the temporary diferences wil not reverse in the

foreseable future.

（续）

2.4 主要会计政策（续）

所得税

所得税由即期及递延税项组成。

所得税计入损益，或当与损益项

目无关时，计入其他综合溢利或

直接计入权益。

现行税项资产和负债以预期从税

务主管部门返还或支付给其的金

额核算。采用之税率（及税收法

律）为于报告日已颁布已生效或与

报告日实际使用之税率（及税收法

律），且需考虑本集团经营地之解

释条款及实务惯例。

递延税项采用负债法，对所有于

报告日就资产及负债之账面价值

与计税基础不同而引致之暂时性

差异做出准备。

除以下事项外，对所有应课税暂

时性差异确认递延税项负债：

• 递延税项负债产生于交易

中对某一资产或负债的初

次确认，且此交易非企业

合并，交易时对会计列报

利润或应课税利润或亏损

亦无影响；及

，联营企业

和合营企业产生之应课税

暂时性差异，其转回之时

点能控制且可能不会在可

预见之将来转回。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES (Continued)

Income tax (Continued)

Defered tax asets are recognised for al deductible

temporary diferences, and the caryforward of unused

tax credits and any unused tax loses. Defered tax

asets are recognised to the extent that it is probable that

taxable profit wil be available against which the deductible

temporary diferences, and the caryforward of unused tax

credits and unused tax loses can be utilised, except:

• when the defered tax aset relating to the

deductible temporary diferences arises from

the initial recognition of an aset or liability in a

transaction that is not a busines combination

and, at the time of the transaction, afects neither

the acounting profit nor taxable profit or los and

does not give rise to equal taxable and deductible

temporary diferences; and

• in respect of deductible temporary diferences

asociated with investments in subsidiaries, defered

tax asets are only recognised to the extent that it is

probable that the temporary diferences wil reverse

in the foreseable future and taxable profit wil be

available against which the temporary diferences

can be utilised.

The carying amount of defered tax asets is reviewed

at the end of each reporting period and reduced to the

extent that it is no longer probable that suficient taxable

profit wil be available to alow al or part of the defered

tax aset to be utilised. Unrecognised defered tax asets

are reasesed at the end of each reporting period and are

recognised to the extent that it has become probable that

suficient taxable profit wil be available to alow al or part

of the defered tax aset to be recovered.

Defered tax asets and liabilities are measured at the tax

rates that are expected to aply to the period when the

aset is realised or the liability is setled, based on tax rates

(and tax laws) that have ben enacted or substantively

enacted by the end of the reporting period.

（续）

2.4 主要会计政策（续）

所得税（续）

递延税项资产乃按所有可抵扣

暂时性差异、未用税项资产及

未用可抵扣税项亏损之结转予以

确认，除以下事项外，惟以应纳

税利润可供抵消可抵扣暂时性差

异，可动用之未用税项资产及未

用可抵扣税项亏损之结转为限：

• 与递延税项资产有关之可

抵扣暂时性差异产生于交

易中对某一资产或负债的

初次确认，且此交易非企

业合并，交易时对会计列

报利润或应课税利润或亏

损亦无影响；及

，联营

企业和合营企业产生之可

抵扣暂时性差异，惟仅于

很有可能于可预见未来转

回暂时性差异及应课税利

润会用作抵销可动用的暂

时性差异时确认递延税项

资产。

递延税项资产之账面价值于每个

报告日予以审阅，并撇减至不再

可能拥有足够之应纳税利润以动

用全部或部分递延税项资产为

限。相反，以前年度未确认之递

延税项资产于每个报告日予以再

次评价，并以可能拥有足够之应

税利润以动用全部或部分递延税

项资产为限确认。

递延税项资产与负债以预期资产

被确认或负债被偿还时期之税率

计量，附以报告日颁布或被实际

适用之税率（及税收法律）为基准。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES (Continued)

Income tax (Continued)

Defered tax asets and defered tax liabilities are ofset

if and only if the Group has a legaly enforceable right to

set of curent tax asets and curent tax liabilities and

the defered tax asets and defered tax liabilities relate

to income taxes levied by the same taxation authority on

either the same taxable entity or diferent taxable entities

which intend either to setle curent tax liabilities and

asets on a net basis, or to realise the asets and setle

the liabilities simultaneously, in each future period in which

significant amounts of defered tax liabilities or asets are

expected to be setled or recovered.

Government grants

Government grants are recognised at their fair value

where there is reasonable asurance that the grant wil be

received and al ataching conditions wil be complied with.

When the grant relates to an expense item, it is recognised

as income on a systematic basis over the periods in which

the costs, for which it is intended to compensate, are

expensed.

Where the grant relates to an aset, the fair value is

credited to a defered income acount and is released to

profit or los over the expected useful life of the relevant

aset by equal anual instalments or deducted from the

carying amount of the aset and released to profit or los

by way of a reduced depreciation charge.

（续）

2.4 主要会计政策（续）

所得税（续）

当且仅当下列条件同时满足时，

递延所得税资产和递延所得税负

债以抵销后的净额列示：集团拥

有以净额结算当期所得税资产及

当期所得税负债的法定权利，并

且递延所得税资产与递延所得税

负债是与同一税收征管部门对同

一应纳税主体征收的所得税相关

或者对不同的纳税主体相关，但

在未来每一具有重要性的递延所

得税资产和递延所得税负债转回

的期间内，涉及的纳税主体意图

以净额结算当期所得税资产及当

期所得税负债或是同时取得资

产、清偿债务。

政府补助金

政府补助金在所有条件均已符合

且合理保证能收到时以公允价值

入账，当政府补助金与某个费用

项目相关联时，在其预期可获得

补偿的情况下，政府补助金的确

认需与费用配比。

当政府补助金与某个资产项目相

关联时，公允价值先计入递延收

入科目，并根据相关资产之预期

使用年限以直线法计入损益，或

者从资产的账面价值中扣除并通

过减少折旧的方式进入综合损益

表。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES (Continued)

Revenue recognition

Revenue from contracts with customers

Revenue from contracts with customers is recognised

when control of gods or services is transfered to the

customers at an amount that reflects the consideration to

which the Group expects to be entitled in exchange for

those gods or services.

When the consideration in a contract includes a variable

amount, the amount of consideration is estimated to which

the Group wil be entitled in exchange for transfering

the gods or services to the customer. The variable

consideration is estimated at contract inception and

constrained until it is highly probable that a significant

revenue reversal in the amount of cumulative revenue

recognised wil not ocur when the asociated uncertainty

with the variable consideration is subsequently resolved.

When the contract contains a financing component which

provides the customer with a significant benefit of financing

the transfer of gods or services to the customer for more

than one year, revenue is measured at the present value of

the amount receivable, discounted using the discount rate

that would be reflected in a separate financing transaction

betwen the Group and the customer at contract inception.

When the contract contains a financing component which

provides the Group with a significant financial benefit for

more than one year, revenue recognised under the contract

includes the interest expense acreted on the contract

liability under the efective interest method. For a contract

where the period betwen the payment by the customer

and the transfer of the promised gods or services is one

year or les, the transaction price is not adjusted for the

efects of a significant financing component, using the

practical expedient in IFRS 15.

（续）

2.4 主要会计政策（续）

收入确认

客户合约收益

客户合约收益于货品或服务的控

制权以某一金额转移予客户时确

认，有关金额反映本集团预期有

权以该等货品或服务换取的代价。

当合同中的对价包括可变金额

时，估计本集团将有权收取的对

价金额，以换取向客户转让商品

或服务。可变对价在合同开始时

进行估计并受到限制，直至当与

可变对价相关的不确定性因素得

到解决时，已确认的累计收入金

额很可能不会发生重大收入转回

为止。

当合同包含融资成分，而该融资

组成部分为客户提供超过一年的

货品或服务转让融资的重大利益

时，收入按应收金额的现值计

量，并利用将于本集团与客户在

合约开始时的单独融资交易中反

映的折现率折现。

当合同中包含的融资成分为本集

团提供超过一年的重大财务利益

时，合同项下确认的收入包括实

际利率法下合同负债所产生的利

息费用。对于客户付款与承诺商

品或服务的转让之间的期间为一

年或以下的合同，交易价格不使

用国际财务报告准则第15号中的

实务变通方法就重大融资成分的

影响进行调整。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES (Continued)

Revenue recognition (Continued)

Revenue from contracts with customers (Continued)

(a) Sale of products

Revenue from the sale of industrial products is

recognised at the point in time when control of the

aset is transfered to the customer, generaly on

delivery of the industrial products.

Some contracts for the sale of industrial products

provide customers with rights of return, giving rise

to variable consideration.

(i) Rights of return

For contracts which provide a customer

with a right to return the gods within a

specified period, the expected value method

is used to estimate the gods that wil not

be returned because this method best

predicts the amount of variable consideration

to which the Group wil be entitled. The

requirements in IFRS 15 on constraining

estimates of variable consideration are

aplied in order to determine the amount of

variable consideration that can be included

in the transaction price. For gods that

are expected to be returned, instead of

revenue, a refund liability is recognised. A

right-of-return aset (and the coresponding

adjustment to cost of sales) is also

recognised for the right to recover products

from a customer.

(b) Rendering of services

Revenue from the rendering of services is

recognised at the point in time when the services

are rendered.

（续）

2.4 主要会计政策（续）

收入确认（续）

客户合约收益（续）

(a) 销售货物

来自销售货物的收益于资

产控制权转移予客户时（即

一般于货物交付时）的时间

点确认。

所有工业产品销售合同均

赋予客户退货权。退货权

产生可变对价。

(i) 退货权

对于赋予客户在指

定期限内退货的权

利的合同，由于该

方法最能预测本集

团有权获得的可变

对价金额，因此采

用预期价值法估计

不予退货的商品。

应用国际财务报告

准则第15号关于

限制性估计可变对

价的要求以确定可

包含在交易价格中

的可变对价金额。

对于预期将被退回

的商品，而不是收

入，确认退款责

任。退货权资产（以

及相应的销售成本

调整）也被确认为从

客户处收回产品的

权利。

(b) 提供服务

提供服务的收入于提供服

务时点确认。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES (Continued)

Revenue recognition (Continued)

Other income

Interest income is recognised on an acrual basis using

the efective interest method by aplying the rate that

exactly discounts the estimated future cash receipts over

the expected life of the financial instrument or a shorter

period, when apropriate, to the net carying amount of

the financial aset.

Contract liabilities

A contract liability is recognised when a payment is

received or a payment is due (whichever is earlier) from

a customer before the Group transfers the related gods

or services. Contract liabilities are recognised as revenue

when the Group performs under the contract (i.e., transfers

control of the related gods or services to the customer).

Right-of-return asets

A right-of-return aset is recognised for the right to recover

the gods expected to be returned by customers. The

aset is measured at the former carying amount of the

gods to be returned, les any expected costs to recover

the gods and any potential decreases in the value of the

returned gods. The Group updates the measurement of

the aset for any revisions to the expected level of returns

and any aditional decreases in the value of the returned

gods.

Refund liabilities

A refund liability is recognised for the obligation to refund

some or al of the consideration received (or receivable)

from a customer and is measured at the amount the Group

ultimately expects it wil have to return to the customer.

The Group updates its estimates of refund liabilities (and

the coresponding change in the transaction price) at the

end of each reporting period.

（续）

2.4 主要会计政策（续）

收入确认（续）

其他收益

利息收入采用实际利率法在金融

工具的估计年限内或合理的更短

的期间内确认，使用的利率为将

估计未来的现金收入折现为金融

资产的账面净值的利率来确认。

合约负债

倘客户于本集团将货品或服务转

移予客户前支付代价，则于作出

付款或付款到期时（以较早者为

准）确认合约负债。合约负债于本

集团履行合约（即将货品或服务转

移予客户）时确认为收益。

退货权资产

收回预期客户退回的货物的权利

确认为退货权资产。该资产按待

退回货物的原账面价值减去收回

货物的任何预期成本及退回货物

价值的任何潜在减值后计量。本

集团更新资产的计量以应对预期

回报水平的任何修订以及退货价

值的任何额外下降。

退款负债

退款负债确认为退还部分或全部

从客户收到（或应收）的对价的义

务，并按本集团最终预计将必须

返还给客户的金额计量。本集团

于各报告期末更新其对退款负债

的估计（及交易价格的相应变动）。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES (Continued)

Share-based payments

The Company operates a restricted share unit scheme.

Employes (including directors) of the Group receive

remuneration in the form of share-based payments,

whereby employes render services in exchange for equity

instruments (“equity-setled transactions”). The cost of

equity-setled transactions with employes for grants under

a restricted share unit scheme is measured by reference to

the fair value at the date at which they are granted. The fair

value is determined at the closing price of the shares at the

grant date, les considerations received from the grantes

(if any), further details of which are given in note 27 to the

financial statements.

The cost of equity-setled transactions is recognised in

employe benefit expense, together with a coresponding

increase in equity, over the period in which the

performance and/or service conditions are fulfiled.

The cumulative expense recognised for equity-setled

transactions at the end of each reporting period until

the vesting date reflects the extent to which the vesting

period has expired and the Group’s best estimate of the

number of equity instruments that wil ultimately vest. The

charge or credit to the statement of profit or los for a

period represents the movement in the cumulative expense

recognised as at the begining and end of that period.

Service and non-market performance conditions are not

taken into acount when determining the grant date fair

value of awards, but the likelihod of the conditions being

met is asesed as part of the Group’s best estimate of

the number of equity instruments that wil ultimately vest.

Market performance conditions are reflected within the

grant date fair value. Any other conditions atached to an

award, but without an asociated service requirement,

are considered to be non-vesting conditions. Non-vesting

conditions are reflected in the fair value of an award and

lead to an imediate expensing of an award unles there

are also service and/or performance conditions.

（续）

2.4 主要会计政策（续）

以股份为基础的付款

本集团设立限制性股份单位计

划。本集团雇员（包括董事）以股

份支付的方式收取报酬，而雇员

则提供服务换取权益工具（权益结

算交易）。与雇员就授股事宜进行

权益结算交易的成本参考授出日

期的公允价值计量。公允价值乃

参照股份交易的最新市场价格厘

定，进一步详情载于财务资料附

注27。

股本结算交易的成本会在达成绩

效及╱或服务条件的期间内于雇

员福利开支确认，并相应增加权

益。于各报告期末直至归属日期

就股本结算交易确认的累计开支

反映归属期间已届满的部分及本

集团对最终将会归属的股本工具

数目的最佳估计。某一期间在损

益表中扣除或计入的款项代表该

期间开始及结束时确认的累计开

支变动。

服务及非市场绩效条件在厘定激

励于授出日期的公允价值时不予

考虑，但本集团对最终将归属的

股本工具数目作出最佳估计时会

评估有关条件获达成的可能性。

市场绩效条件反映于授出日期的

公允价值。激励的任何其他附带

条件（但不带有服务要求）视作非

归属条件。非归属条件反映于激

励的公允价值，除非同时具服务

及╱或绩效条件，否则会导致激

励即时支销。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES (Continued)

Share-based payments (Continued)

For awards that do not ultimately vest because non-market

performance and/or service conditions have not ben met,

no expense is recognised. Where awards include a market

or non-vesting condition, the transactions are treated as

vesting irespective of whether the market or non-vesting

condition is satisfied, provided that al other performance

and/or service conditions are satisfied.

Where the terms of an equity-setled award are modified,

as a minimum an expense is recognised as if the terms

had not ben modified, if the original terms of the award

are met. In adition, an expense is recognised for any

modification that increases the total fair value of the

share-based payments, or is otherwise beneficial to the

employe as measured at the date of modification. Where

an equity-setled award is canceled, it is treated as if it had

vested on the date of cancelation, and any expense not

yet recognised for the award is recognised imediately.

Other employe benefits

Pension scheme

The employes of the Group’s subsidiaries which

operate in Mainland China are required to participate in a

central pension scheme operated by the local municipal

government. These subsidiaries are required to contribute

a certain percentage of their payrol costs to the central

pension scheme. The contributions are charged to profit or

los as they become payable in acordance with the rules

of the central pension scheme.

（续）

2.4 主要会计政策（续）

以股份为基础的付款（续）

因非市场绩效及╱或服务条件未

能达成而最终未归属的激励并不

确认为开支。倘激励包含市场或

非归属条件，则无论市场条件或

非归属条件获达成与否，只要所

有其他绩效及╱或服务条件获达

成，交易仍被视为一项归属。

倘股本结算激励的条款经修订而

激励的原有条款已达成，则最少

须确认犹如条款并无修订的开

支。此外，倘任何修订导致以股

份为基础的付款于修订日期计量

的总公允价值有所增加或对雇员

有利，则就该等修订确认开支。

如股本结算激励被注销，应被视

为已于注销日期归属，而尚未就

有关激励确认的任何开支均应即

时确认。

雇员福利

养老金计划

本集团在中国大陆经营的附属公

司的雇员必须参加由当地市政府

经营的中央养老金计划。这些附

属公司须按其工资成本的一定百

分比向中央退休金计划供款。供

款根据中央退休金计划的规则于

应付时计入损益。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES (Continued)

Events after the reporting period

If the Group receives information after the reporting period,

but prior to the date of authorisation for isue, about

conditions that existed at the end of the reporting period,

it wil ases whether the information afects the amounts

that it recognises in its financial statements. The Group wil

adjust the amounts recognised in its financial statements

to reflect any adjusting events after the reporting period

and update the disclosures that relate to those conditions

in light of the new information. For non-adjusting events

after the reporting period, the Group wil not change the

amounts recognised in its financial statements, but wil

disclose the nature of the non-adjusting events and an

estimate of their financial efects, or a statement that such

an estimate canot be made, if aplicable.

Dividends

Final dividends are recognised as a liability when they

are aproved by the shareholders in a general meting.

Proposed final dividends are disclosed in the note 11 to the

financial statements. Interim dividends are simultaneously

proposed and declared, because the Company’s

memorandum and articles of asociation grant the directors

the authority to declare interim dividends. Consequently,

interim dividends are recognised imediately as a liability

when they are proposed and declared.

（续）

2.4 主要会计政策（续）

报告期后事项

倘本集团于报告期后但于授权刊

发日期前收到有关于报告期末存

在的条件的资料，其将评估有关

资料会否影响其财务报表中确认

的金额。本集团将调整其财务报

表中确认的金额以反映报告期后

的任何调整事项，并根据新资料

更新与该等条件有关的披露。就

报告期后的未调整事件而言，本

集团将不会更改其财务报表中确

认的金额，但会披露未调整事项

的性质及对其财务影响的估计，

或无法作出该估计的声明（如适

用）。

股息

年终股息在股东大会上获得股东

批准时，确认为负债。拟派末期

股息于财务报表附注披露。中期

股息同时提议和宣派，因为公司

的组织章程大纲和章程赋予董事

宣派中期股息的权力。因此，中

期股息在建议和宣派时立即确认

为负债。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

2. ACOUNTING POLICIES (Continued)

2.4 MATERIAL ACOUNTING POLICIES (Continued)

Foreign curencies

These financial statements are presented in Renminbi

(“RMB”), which is the Company’s functional curency. Each

entity in the Group determines its own functional curency

and items included in the financial statements of each

entity are measured using that functional curency. Foreign

curency transactions recorded by the entities in the Group

are initialy recorded using their respective functional

curency rates prevailing at the dates of the transactions.

Monetary asets and liabilities denominated in foreign

curencies are translated at the functional curency rates

of exchange ruling at the end of the reporting period. Al

diferences are taken to profit or los.

Non-monetary items that are measured in terms of

historical cost in a foreign curency are translated using

the exchange rates at the dates of the initial transactions.

Non-monetary items measured at fair value in a foreign

curency are translated using the exchange rates at the

date when the fair value was measured. The gain or los

arising on translation of a non-monetary item is treated

in line with the recognition of the gain or los on change

in fair value of the item (i.e., translation diference on the

item whose fair value gain or los is recognised in other

comprehensive income or profit or los is also recognised

in other comprehensive income or profit or los,

respectively).

In determining the exchange rate on initial recognition of

the related aset, expense or income on the derecognition

of a non-monetary aset or non-monetary liability relating

to an advance consideration, the date of initial transaction

is the date on which the Group initialy recognises the

non-monetary aset or non-monetary liability arising

from the advance consideration. If there are multiple

payments or receipts in advance, the Group determines

the transaction date for each payment or receipt of the

advance consideration.

（续）

2.4 主要会计政策（续）

外币

本财务报表以人民币列报，人民

币为本公司的功能性币及列报货

币。本集团下属各公司自行决定

其功能性货币，并以该功能性

货币对财务报表中的项目进行计

量。外币交易在初始确认时按交

易日的功能性货币汇率记账。以

外币列值的货币性资产和负债按

财务报表日的功能性货币汇率重

新折算。所有汇兑差额计入损益。

以历史成本按外币计量的非货币

项目按初步交易日的汇率进行换

算。以外币按公允价值计量的非

货币项目会使用厘定公允价值当

日的汇率换算。换算按公允值计

量的非货币项目而产生的收益或

亏损，按确认该项目的公允价值

变动的收益或亏损一致的方法处

理（即公允价值收益或亏损计入其

他综合溢利或损益的项目，其换

算差额亦分别于其他综合溢利或

损益确认）。

相关资产、费用或收入的首次识

别以及与预付款有关的非货币性

资产或非货币性负债的终止确认

的汇率的决定，最初交易日期系

集团首次识别预付款有关的非货

币性资产或非货币性负债产生。

如预先有多笔付款或收据，本集

团会为每笔付款或收据确定交易

日期。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

3. SIGNIFICANT ACOUNTING

JUDGEMENTS AND ESTIMATES

The preparation of the Group’s financial statements requires

management to make judgements, estimates and asumptions

that afect the reported amounts of revenues, expenses, asets

and liabilities, and their acompanying disclosures, and the

disclosure of contingent liabilities. Uncertainty about these

asumptions and estimates could result in outcomes that could

require a material adjustment to the carying amounts of the

asets or liabilities afected in the future.

Judgements

In the proces of aplying the Group’s acounting policies,

management has made the folowing judgements, apart from

those involving estimations, which have the most significant efect

on the amounts recognised in the financial statements:

Witholding tax arising from the distribution of dividends

The Group’s determination as to whether to acrue defered

tax liabilities in respect of witholding taxes arising from the

distribution of dividends by certain subsidiaries acording to

the relevant tax rules enacted in the jurisdictions is subject to

judgement on the plan of the distribution of dividends, based

upon the likely distribution level of such earnings from these

subsidiaries in the foreseable future. The carying value of

defered tax liabilities arising from the witholding tax asociated

with the investments in subsidiaries in Mainland China for the year

ended 31 March 2025 was RMB116,361,000 (31 March 2024:

RMB91,280,000). Further details are contained in note 24 to the

financial statements.

3. 重大会计判断和估计

编制本集团财务报表要求管理层作出影

响收入、费用、资产及负债及其附带披

露之报告金额及或有负债之披露的判

断、估计及假设。此等假设及估计之不

确定性可能会导致可能需要对未来受影

响之资产或负债之账面价值进行重大调

整的结果。

判断

在应用本集团会计政策的过程中，除涉

及估计的判断外，管理层做出了对财务

报表确认金额影响最大的判断：

股息分配产生的预扣税

本集团根据司法管辖区制定的相关税收

规则确定是否就某些附属公司分配股息

产生的预扣税项计提递延所得税负债，

取决于对股息分配方案的判断，基于这

些附属公司在可预见的未来可能分配的

收益水平。截至二零二五年三月三十一

日止年度，与投资中国内地附属公司相

关的预扣税项产生的递延所得税负债账

面值为人民币116,361千元（二零二四年

三月三十一日：人民币91,280千元）。更

多详情载于财务报表附注24。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

3. SIGNIFICANT ACOUNTING

JUDGEMENTS AND ESTIMATES

(Continued)

Judgements (Continued)

Defered tax asets

Defered tax asets are recognised for unused tax loses to

the extent that it is probable that taxable profit wil be available

against which the loses can be utilised. Significant management

judgement is required to determine the amount of defered tax

asets that can be recognised, based upon the likely timing and

the level of future taxable profits, together with future tax planing

strategies.

The Group has tax loses of RMB10,862,000 (2024:

RMB10,134,000) caried forward. These loses related to

subsidiaries that have a history of loses, have not expired, and

may not be used to ofset taxable income elsewhere in the Group.

The subsidiaries have neither any taxable temporary diference

nor any tax planing oportunities available that could partly

suport the recognition of these loses as defered tax asets.

On this basis, the Group has determined that it canot recognise

defered tax asets on the tax loses caried forward. Further

details on defered taxes are disclosed in note 24 to the financial

statements.

Estimation uncertainty

The key asumptions concerning the future and other key sources

of estimation uncertainty at the end of the reporting period, that

have a significant risk of causing a material adjustment to the

carying amounts of asets and liabilities within the next financial

year, are described below.

（续）

判断（续）

递延税项资产

未被动用税项亏损乃被确认为递延税项

资产，惟以应课税盈利可能可用作抵扣

可动用之亏损为限。管理层须根据未来

应课税盈利之可能时间及数额连同未来

纳税计划策略作出重大判断，以厘定可

予确认之递延税项资产金额。

本集团有结转税项亏损人民币10,862千

元（2024年：人民币10,134千元）。该等

亏损涉及曾录得亏损的子公司，尚未届

满且未必可用于抵销本集团其他地方的

应课税收入。该等子公司并无任何应课

税暂时差额，亦无任何税项计划机会可

部分支持将该等亏损确认为递延税项资

产。为此，本集团确定其无法就已结转

税项亏损确认递延税项资产。有关递延

税项的进一步详情于财务报表附注24中

披露。

估计之不确定性

下文载述有关未来的主要假设及于报告

期末估计不明朗因素的其他主要来源，

两者均涉及导致下个财政年度资产及负

债账面值大幅调整的重大风险。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

3. SIGNIFICANT ACOUNTING

JUDGEMENTS AND ESTIMATES

(Continued)

Estimation uncertainty (Continued)

(i) Provision for expected credit loses on trade

receivables

The Group uses a provision matrix to calculate ECLs for

trade receivables. The provision rates are based on days

past due for groupings of various customer segments that

have similar los paterns acording to the sales type,

customer type and rating.

The provision matrix is initialy based on the Group’s

historical observed default rates. The Group wil calibrate

the matrix to adjust the historical credit los experience

with forward-loking information. For instance, if forecast

economic conditions (i.e., gros domestic product) are

expected to deteriorate over the next year which can lead

to an increased number of defaults in the manufacturing

sector, the historical default rates are adjusted. At each

reporting date, the historical observed default rates are

updated and changes in the forward-loking estimates are

analysed.

The asesment of the corelation among historical

observed default rates, forecast economic conditions

and ECLs is a significant estimate. The amount of ECLs

is sensitive to changes in circumstances and forecast

economic conditions. The Group’s historical credit los

experience and forecast of economic conditions may also

not be representative of a customer’s actual default in the

future. The information about the ECLs on the Group’s

trade receivables is disclosed in note 18 to the financial

statements.

（续）

估计之不确定性（续）

(i) 贸易应收款项之预期信贷亏损拨

备

本集团使用拨备矩阵计算贸易应

收款项的预期信贷亏损。拨备率

乃基于具有类似亏损模式的多个

客户分部进行分组（即产品类型、

客户类型及评级）之逾期天数厘

定。

拨备矩阵初步以本集团的过往观

察所得违约率为基础。本集团将

调整矩阵，以对照前瞻性资料调

整过往信贷亏损经验。举例而

言，倘预测经济状况（即国内生产

总值）预期会于下一年恶化而可能

导致该界别的违约数目增加，则

会调整过往违约率。于各报告日

期，过往观察所得违约率会更新

及对前瞻性估计的变动会予以分

析。

过往观察所得违约率、预测经济

状况及预期信贷亏损之间关联系

数的评估为一项重大估计。预期

信贷亏损的金额对环境及预测经

济状况的变动敏感。本集团的过

往信贷亏损经验及经济状况的预

测亦未必反映客户未来的实际违

约情况。有关本集团贸易应收款

项的预期信贷亏损资料于财务报

表附注18披露。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

3. SIGNIFICANT ACOUNTING

JUDGEMENTS AND ESTIMATES

(Continued)

Estimation uncertainty (Continued)

(i) Impairment of non-financial asets (other than

godwil)

The Group aseses whether there are any indicators

of impairment for al non-financial asets (including the

right-of-use asets) at the end of each reporting period.

Indefinite life intangible asets are tested for impairment

anualy and at other times when such an indicator exists.

Other non-financial asets are tested for impairment when

there are indicators that the carying amounts may not

be recoverable. An impairment exists when the carying

value of an aset or a cash-generating unit exceds its

recoverable amount, which is the higher of its fair value

les costs of disposal and its value in use. The calculation

of the fair value les costs of disposal is based on available

data from binding sales transactions in an arm’s length

transaction of similar asets or observable market prices

les incremental costs for disposing of the aset. When

value-in-use calculations are undertaken, management

must estimate the expected future cash flows from the

aset or cash-generating unit and chose a suitable

discount rate in order to calculate the present value of

those cash flows.

(i) Useful lives of property, plant and equipment

The Group determines the estimated useful lives and

related depreciation charges for its property, plant and

equipment. This estimate is based on the historical

experience of the actual useful lives of property, plant

and equipment of similar nature and functions. It could

change significantly as a result of technical inovations, or

competitor actions in response to severe industry cycles.

Management wil increase the depreciation charge where

useful lives are shorter than previously estimated lives,

or it wil write of or write down technicaly obsolete or

non-strategic asets that have ben abandoned. Further

details are contained in note 13 to the financial statements.

（续）

估计之不确定性（续）

(i) 非金融资产减值（商誉除外）

本集团于各报告期末评估所有非

金融资产（包括使用权资产）是否

存在减值迹象。使用寿命不确定

的无形资产每年进行减值测试，

并在存在此类指标的其他时间进

行。其他非金融资产在有迹象表

明其账面价值可能无法收回时进

行减值测试。当资产或现金产生

单位的账面值超过其可收回金额

（即其公允价值减处置成本与其使

用价值两者中的较高者）时，存在

减值。公允价值减去处置成本的

计算基于类似资产的公平交易中

具有约束力的销售交易的可用数

据或可观察的市场价格减去处置

资产的增量成本。在进行使用价

值计算时，管理层必须估计资产

或现金产生单位的预期未来现金

流量并选择合适的折现率来计算

这些现金流量的现值。

(i) 物业、厂房及设备的使用寿命

本集团为其物业、厂房及设备确

定估计可使用年期及相关折旧费

用。此估计乃基于性质及功能相

似的物业、厂房及设备的实际可

使用年限的过往经验。由于技术

创新或竞争对手为应对严重的行

业周期而采取的行动，它可能会

发生重大变化。如果使用年限低

于先前估计的年限，管理层将增

加折旧费用，或者将注销或减记

已废弃的技术过时或非战略性资

产。更多详情载于财务报表附注

13。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

3. SIGNIFICANT ACOUNTING

JUDGEMENTS AND ESTIMATES

(Continued)

Estimation uncertainty (Continued)

(iv) Impairment of inventories

Net realisable value of an inventory item is the estimated

seling price in the ordinary course of busines, les

estimated costs to be incured to completion and disposal.

These estimates are based on the curent market condition

and the historical experience of seling products of a

similar nature which could change significantly as a result

of changes in customer taste or competitor actions in

response to severe consumer product industry cycles.

Management reaseses these estimates at each reporting

date. Further details are contained in note 17 to the

financial statements.

（续）

估计之不确定性（续）

(iv) 存货减值

存货项目的可变现净值是在日常

业务过程中的估计售价减去完成

和处置时预计将发生的成本。这

些估计是基于当前市场状况和销

售类似性质产品的历史经验，这

些产品可能由于客户品味的变化

或竞争对手针对严重的消费品行

业周期而采取的行动而发生重大

变化。管理层在每个报告日重新

评估这些估计。更多详情载于财

务报表附注17。

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

3. SIGNIFICANT ACOUNTING

JUDGEMENTS AND ESTIMATES

(Continued)

Estimation uncertainty (Continued)

(v) Variable consideration for returns

The Group estimates variable consideration to be included

in the transaction price for the sale of products with rights

of return.

The Group used the historical return data to come up

with expected return percentages. These percentages are

aplied to determine the expected value of the variable

consideration. Any significant changes in experience as

compared to the historical return patern wil impact the

expected return percentages estimated by the Group.

The Group updates its asesment of expected returns

quarterly and the refund liabilities are adjusted acordingly.

Estimates of expected returns are sensitive to changes in

circumstances and the Group’s past experience regarding

returns may not be representative of customers’ actual

returns in the future. As at 31 March 2025, the amount

recognised as refund liabilities was RMB4,013,000 for the

expected returns.

(vi) Leases – Estimating the incremental borowing rate

The Group canot readily determine the interest rate

implicit in a lease, and therefore, it uses an incremental

borowing rate (“IBR”) to measure lease liabilities. The IBR

is the rate of interest that the Group would have to pay to

borow over a similar term, and with a similar security, the

funds necesary to obtain an aset of a similar value to

the right-of-use aset in a similar economic environment.

The IBR therefore reflects what the Group “would have

to pay”, which requires estimation when no observable

rates are available (such as for subsidiaries that do not

enter into financing transactions) or when it neds to be

adjusted to reflect the terms and conditions of the lease (for

example, when leases are not in the subsidiary’s functional

curency). The Group estimates the IBR using observable

inputs (such as market interest rates) when available and is

required to make certain entity-specific estimates (such as

the subsidiary’s stand-alone credit rating).

（续）

估计之不确定性（续）

(v) 退货可变对价

本集团估计可变对价将包含在销

售具有退货权的产品的交易价格

中。

本集团利用历史退货数据得出预

期退货百分比。这些百分比用于

确定可变对价的预期值。与过往

退货模式相比，经验的任何重大

变化将影响本集团估计的预期退

货百分比。

本集团每季度更新其对预期退货

的评估，并相应调整退款负债。

预期回报的估计易受环境变化的

影响，本集团过往的退货经验未

必能代表客户未来的实际退货。

于二零二五年三月三十一日，确

认为退款负债的金额为人民币

4,013千元，用于预期退货。

(vi) 租赁－估算增量借款利率

本集团无法轻易确定租赁中的内

含利率，因此，本集团使用递增

借款利率（「递增借款利率」）计量

租赁负债。递增借款利率为本集

团于类似经济环境中为取得与使

用权资产价值相近的资产，而以

类似抵押品与类似期间借入所需

资金应支付的利率。因此，递增

借款利率反映了本集团「应支付」

的利率，当无可观察的利率时（如

就并无订立融资交易的附属公司

而言）或当须对利率进行调整以反

映租赁的条款及条件时（如当租赁

并非以附属公司的功能货币订立

时），则须作出利率估计。当可观

察输入数据可用时，本集团使用

可观察输入数据（如市场利率）估

算递增借款利率并须作出若干实

体特定的估计（如附属公司的独立

信贷评级）。

3,790,671
470,886
4,261,557

628,468

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

4. OPERATING SEGMENT INFORMATION

For management purposes, the Group is not organised into

busines units based on their products and only has one

reportable operating segment which is the manufacture and sale

of high precision CNC machine tols. Management monitors the

operating results of the Group’s operating segment as a whole for

the purpose of making decisions about resource alocation and

performance asesment. Therefore, no segment-specific analysis

by reporting segment is presented.

Geographical information

(a) Revenue from external customers

Year ended 31 March

截至三月三十一日止年度

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Mainland China中国内地2,632,420

Overseas海外487,254

Total revenue总收入3,119,674

The revenue information above is based on the locations of

customers.

(b) Non-curent asets

Year ended 31 March

截至三月三十一日止年度

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Mainland China中国内地644,510

The non-curent aset information of continuing operations

above is based on the locations of the asets and excludes

financial instruments and defered tax asets.

Information about major customers

Revenue of aproximately RMB452,140,000 (2024:

RMB472,684,000) was derived from sales by the industrial

products segment to a single customer, including sales to a group

of entities which are known to be under comon control with that

customer.

4. 经营分部资料

就管理目的而言，本集团不按产品划分

业务单位，且仅有一个可报告经营分

部，即制造及销售高精密数控机床。管

理层监控本集团经营分部的整体经营业

绩，旨在作出有关资源分配的决策及进

行表现评估。因此，并无呈列经营分部

的分析。

地区资料

(a) 来自外部客户的收入

以上收入数据基于客户所在地计

算。

(b) 非流动资产

上述非流动资产资料基于该等资

产所处的位置且不包含金融工具

及递延税项资产。

主要客户信息

业务收入约为人民币452,140千元（二零

二四年：人民币472,684千元），来自工

业产品分部向单一客户的销售，包括向

已知与该客户共同控制的一组实体的销

售。

4,255,516
6,041
4,261,557

4,255,516
3,621,081
243,055
207,691
183,689
6,041
4,261,557
3,790,671
470,886
4,261,557
4,255,516
6,041
4,261,557

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

5. REVENUE, OTHER INCOME AND GAINS

An analysis of revenue is as folows:

Year ended 31 March

截至三月三十一日止年度

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Revenue from contracts with customers来自客户合约之收入

Sale of gods销售货品3,113,567

Rendering of services提供服务6,107

Total总计3,119,674

(i) Disagregated revenue information

Year ended 31 March

截至三月三十一日止年度

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Type of gods or services货品或服务类型

Sale of gods销售货品3,113,567

Precision lathes 精密车床2,654,911

Precision machining centres 精密加工中心154,885

Precision grinding machines 精密磨床144,330

Other components 其他组件159,441

Rendering of services提供服务6,107

Total总计3,119,674

Geographical markets地区市场

Mainland China中国内地2,632,420

Overseas海外487,254

Total总计3,119,674

Timing of revenue recognition收入确认时间

Gods transfered at a point in time于某一时间点转让货品3,113,567

Services rendered at a point in time于某一时间点提供服务6,107

Total总计3,119,674

、其他收入及收益

收入分析如下：

(i) 分拆收入资料

92,107

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

5. REVENUE, OTHER INCOME AND GAINS

(Continued)

(i) Disagregated revenue information (Continued)

The folowing table shows the amount of revenue

recognised in the curent reporting period that was

included in the contract liabilities at the begining of the

reporting period:

Year ended 31 March

截至三月三十一日止年度

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Revenue recognised that was

included in contract liabilities at the

begining of the reporting period:

计入报告期初合同负债的

已确认收入：

Sale of gods销售货品78,795

There was no revenue recognised from performance

obligations satisfied in previous periods.

(i) Performance obligations

Information about the Group’s performance obligations is

sumarised below:

Sale of products

The performance obligation is satisfied upon delivery of

the products and payment is generaly due within 30

to 180 days from delivery. Certain contracts provide

customers with a right of return which give rise to variable

consideration subject to constraint.

Rendering of services

The performance obligation is satisfied upon the rendering

of the promised services to the customers and payment is

generaly due within about 30 days.

、其他收入及收益（续）

(i) 分拆收入资料（续）

下表显示了在本报告期间确认的

收入金额，这些收入已在报告期

初计入合同负债：

未有从先前期间已履行的履约义

务中确认的收入。

(i) 履约责任

关于本集团履约责任的资料概述

如下：

销售产品

履约责任于交付产品时达成，通

常于自交付起计30至180日内付

款。若干合约向客户提供退货权

利，这导致可变对价受到限制。

提供服务

履约责任于向客户交付承诺服务

时达成，通常于自交付起30日内

付款。

22,518
56,504
–
1,362
80,384

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

5. REVENUE, OTHER INCOME AND GAINS

(Continued)

(i) Performance obligations (Continued)

Rendering of services (Continued)

An analysis of other income and gains is as folows:

Year ended 31 March

截至三月三十一日止年度

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Other income and gains其他收入及收益

Bank interest income银行利息收入27,664

Government grants (note (a)政府补助（附注(a)）55,944

Foreign exchange gain, net外汇收益净额–

Others其他1,660

Total other income and gains其他收入及收益总计85,268

Note (a): The amount represents grants received from the local PRC

government related to subsidies. There are no unfulfiled conditions

or contingencies relating to these grants. Government grants

received for which related expenditure has not yet ben undertaken

are included in defered income in the statement of financial

position.

、其他收入及收益（续）

(i) 履约责任（续）

提供服务（续）

有关其他收入及收益的分析如下：

附注(a)：该金额指从中国地方政府获得的补

助。概无有关该等补助的为满足条

件或然事件。就尚未进行相关支

出获得的政府补助，在财务状况表

中计入递延收益。

2,848,239
2,885
2,743
54,789
4,450
1,684
72,217
3,363
6,749
1,420
374,491
33,616
51,061
459,168
3,759
5,682
533
1
6,216
16,433
(22,518)
239
(56,504)

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

6. PROFIT BEFORE TAX

The Group’s profit before tax is arived at after charging/

(crediting):

Year ended 31 March

截至三月三十一日止年度

二零二五年二零二四年

NotesRMB’000RMB’000

附注人民币千元人民币千元

Cost of inventories sold销售存货成本2,221,681

Cost of services provided提供服务成本2,454

Impairment los recognised of inventories存货减值损失计提╱（拨回）171,351

Depreciation of property, plant and equipment物业、厂房及设备折旧1352,952

Depreciation of right-of-use asets使用权资产折旧144,392

Amortisation of intangible asets无形资产摊销151,393

Research and development costs研发成本41,858

Lease payments not included in the

measurement of lease liabilities

未计入租赁负债计量的租赁付款

14(c)2,709

Equity-setled share-based payment expense股份支付费用27305

Auditor’s remuneration核数师酬金

– Anual audit－年度审核1,370

Employe benefit expense

(including directors’ remuneration (note 8):

雇员福利开支

（包括董事薪酬（附注8）:

Wages and salaries 工资及薪金304,377

Pension scheme contributions 退休金计划供款28,719

Social security contributions and

acomodation benefits

社保供款及住房福利

44,899

Total总计377,995

Foreign exchange diferences, net汇兑（收益）╱亏损5,909

Impairment of financial asets, net:金融资产减值净额：

Impairment los/(reversal) of

trade receivables

应收贸易款项减值损失

计提╱（拨回）18(20)

Impairment los/(reversal) of impairment of

financial asets at fair value through

other comprehensive income

按公允价值计量且其变动计入

其他综合收益之金融资产

减值损失计提╱（拨回）(2,317)

Impairment los/(reversal) of

financial asets included in

prepayments, other receivables and

other asets

计入预付款项、其他应收款项

及其他资产之金融资产减值

损失计提╱（拨回）

19(3)

Total总计(2,340)

Product waranty provision质保拨备234,809

Bank interest income银行利息收入5(27,664)

Los on disposal of items of property, plant

and equipment

出售物业、厂房及设备项目

损失962

Government grants政府补助5(55,944)

, plant and

equipment and employe benefit expense, which are also included in the

respective total amounts of the items disclosed above.

Impairment los recognized of inventories is included in “cost of sales”

in the consolidated statement of profit or los and other comprehensive

income.

* There are no forfeited contributions that may be used by the Group as the

employer to reduce the existing level of contributions. (2024: Nil).

6. 除税前溢利

本集团的除税前溢利经扣除╱（计入）以

下各项后达致：

、厂房和设备

折旧以及员工福利支出，这两项费用也包含

在上述项目各自的总金额中。

年内存货减值计提计入综合损益表的销售成

本中。

* 概无本集团作为雇主可用以扣减现有供款水

平的已没收供款。（二零二四年：无）

370
42
412

1,494
5,662
1,321
6,983
8,477

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

7. FINANCE COSTS

An analysis of finance costs is as folows:

Year ended 31 March

截至三月三十一日止年度

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Interest arising from discounted notes

receivable

应收贴现票据产生的利息

Interest on lease liabilities (note 14(c)租赁负债利息（附注14(c)）83

Total总计993

8. DIRECTORS’ AND CHIEF EXECUTIVE’S

REMUNERATION

Directors’ and chief executive’s remuneration for the year,

disclosed pursuant to the Listing Rules, section 383(1)(a), (b), (c)

and (f) of the Hong Kong Companies Ordinance and Part 2 of the

Companies (Disclosure of Information about Benefits of Directors)

Regulation, is as folows:

Year ended 31 March

截至三月三十一日止年度

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Fes袍金1,589

Other emoluments:其他酬金：

Salaries, alowances and benefits in kind 薪金、津贴及实物利益5,568

Equity-setled share-based payment

expense

股份支付费用

Subtotal小计5,629

Total总计7,218

There were no emoluments paid by the Group or receivable

by the directors or past directors as an inducement to join the

Group, or upon joining the Group, or as compensation for los of

ofice during the year. (2024: Nil)

7. 财务成本

持续经营业务之财务成本分析如下：

8. 董事薪酬

于本年度，根据上市规则第383章第(1)条

(a)、(b)、(c)及香港公司条例(f)及公司规

例第二部分（披露有关董事利益资料）披

露的董事及最高行政人员的薪酬如下：

本年度，本集团并无向董事或离任董事

支付或者董事或离任董事从本集团收到

任何酬金作为加入本集团或加入本集团

当时的奖励或离职的赔偿。（二零二四

年：无）

498
498
498
–
1,494

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

8. DIRECTORS’ AND CHIEF EXECUTIVE’S

REMUNERATION (Continued)

(a) Independent non-executive directors

The fes paid to independent non-executive directors

during the year were as folows:

Year ended 31 March

截至三月三十一日止年度

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Dr. Huang Ping黄平博士490

Dr. Satoshi Iwabuchi

岩渊聪博士

Mr. Tam Kin Bor谭建波先生490

Dr. Eichi Koda

甲田英一博士

Total总计1,469

Dr. Satoshi Iwabuchi was apointed as an independent non-

executive director of the Company on 28 June 2023.

Dr. Eichi Koda resigned as an independent non-executive director

of the Company on 28 June 2023.

（续）

(a) 独立非执行董事

年内支付予独立非执行董事的袍

金如下：

岩渊聪博士于二零二三年六月二十

八日获委任为本公司独立非执行董

事。

甲田英一博士于二零二三年六月二

十八日辞去本公司独立非执行董事

职务。

–	2,056	300	2,356
–	–	–	–
–	–	225	225
–	–	196	196
–	3,606	600	4,206
–	5,662	1,321	6,983

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

8. DIRECTORS’ AND CHIEF EXECUTIVE’S

REMUNERATION (Continued)

(b) Executive director, non-executive directors and

the chief executive

Fes

Salaries,

alowances

and benefits

in kind

Equity-setled

share based

payment

expenseTotal

袍金

薪金、津贴

及实物利益

以权益结算的

股份支付费用总额

RMB’000RMB’000RMB’000RMB’000

人民币千元人民币千元人民币千元人民币千元

Year ended 31 March 2025截至二零二五年三月三十一日

止年度

Executive director:执行董事：

– Dr. Li Zequn －李泽群博士

Non-executive directors:非执行董事：

– Mr. Takao Nishijima －西嶋尚生先生

– Ms. Mami Matsushita －松下真実女士

– Mr. Kenji Yoneyama

－

米山贤司先生

Chief executive and director:最高行政人员：

– Dr. Tang Donglei －唐东雷博士

Total总计

Year ended 31 March 2024截至二零二四年三月三十一日

止年度

Executive director:执行董事：

– Dr. Li Zequn －李泽群博士–1,965141,979

Non-executive directors:非执行董事：

– Mr. Takao Nishijima －西嶋尚生先生–

– Ms. Mami Matsushita －松下真実女士120–10130

– Mr. Motoi Yamada

－山田基先生

–

– Mr. Kenji Yoneyama

－米山贤司先生

–1010

Chief executive and director:最高行政人员：

– Dr. Tang Donglei －唐东雷博士–3,603273,630

Total总计1205,568615,749

Mr. Motoi Yamada resigned as a non-executive director of the

Company on 28 June 2023.

Mr. Kenji Yoneyama was apointed as a non-executive director of

the Company on 28 June 2023.

There was no arangement under which a director waived

or agred to waive any remuneration during the year.

（续）

(b) 执行董事、非执行董事及最高

行政人员

山田基先生于二零二三年六月二十

八日辞任本公司非执行董事。

米山贤司先生于二零二三年六月二

十八日获委任为本公司非执行董

事。

于本年度内概无董事放弃或同意

放弃任何薪酬的安排。

6,768
1,051
307
8,126

2
–
1
3

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

9. FIVE HIGHEST PAID EMPLOYES

The five highest paid employes during the year included two

directors (2024: two), details of whose remuneration are set out

in note 8 above. Details of the remuneration during the year of

the remaining thre (2024: thre) highest paid employes who

are neither a director nor chief executive of the Company are as

folows:

Year ended 31 March

截至三月三十一日止年度

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Salaries, alowances and benefits in kind薪金、津贴及实物利益6,204

Equity-setled share-based

payment expense

股份支付费用

Pension scheme contributions养老金计划缴款440

Total总计6,692

The number of non-director, highest paid employes whose

remuneration fel within the folowing band is as folows:

Year ended 31 March

截至三月三十一日止年度

二零二五年二零二四年

HK$2,000,001 to HK$2,500,0002,000,001港元至2,500,000港元2

HK$2,500,001 to HK$3,000,0002,500,001港元至3,000,000港元1

HK$3,000,001 to HK$3,500,0003,000,001港元至3,500,000港元–

Total总计3

There were no emoluments paid by the Group or receivable by

the five highest paid individuals as an inducement to join the

Group, or upon joining the Group, or as compensation for los of

ofice during the year. (2024: Nil)

9. 五名最高薪酬雇员

本年度五名最高薪酬雇员包括两名董事

（二零二四年：两名），其薪酬详情载于

上文附注8。本年度其余三名（二零二四

年：三名）并非本公司董事或最高行政人

员的最高薪酬雇员的薪酬详情如下：

酬金属于下列范围内的最高薪酬非董事

雇员的人数如下：

本年度，本集团并无向五名最高薪酬雇

员支付或者五名最高薪酬雇员从本集团

收到任何酬金作为加入本集团或加入本

集团当时的奖励或离职的赔偿。（二零二

四年：无）

335,043
19,719
354,762

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

10. INCOME TAX EXPENSE

The Group is subject to income tax on an entity basis on profits

arising in or derived from the tax jurisdictions in which members

of the Group are domiciled and operate.

Pursuant to the rules and regulations of the Cayman Islands, the

Company is not subject to any income tax in that jurisdiction.

Hong Kong profits tax is to be provided at the rate of 16.5%

(2024: 16.5%) on the estimated asesable profits arising in Hong

Kong.

The provision for Mainland China curent income tax is based on

the statutory rate of 25% (2024: 25%) of the asesable profits of

the PRC subsidiaries of the Group as determined in acordance

with the PRC Corporate Income Tax Law which was aproved

and became efective on 1 January 2008 (the “New Corporate

Income Tax Law”).

The major components of income tax expense are as folows:

Year ended 31 March

截至三月三十一日止年度

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Curent tax – Mainland China即期税项－中国大陆207,208

Defered tax (note 24)递延税项（附注24）15,556

Total tax charge for the year所得税年度开支合计222,764

10. 所得税开支

本集团须就在本集团成员公司所在及经

营业务所在司法权区产生或源自有关司

法权区的溢利缴纳企业所得税。

根据开曼群岛的规则及规例，本公司无

须缴纳该司法权区的任何所得税。

香港利得税乃按于香港产生的估计应课

税溢利以16.5%（二零二四年：16.5%）

的税率计提拨备。

中国内地即期所得税拨备乃按根据中国

企业所得税法（于二零八年一月一日获

批准并生效）（「新企业所得税法」）厘定

的本集团中国附属公司的应课税溢利以

25%（二零二四年：25%）的法定税率计

算。

所得税开支的主要组成部分载列如下：

1,137,179
284,295	25.00
170	0.01
3,942	0.35
2,204	0.19
81,081	7.13
(16,930)	(1.48)
354,762	31.20

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

（续）

适用于按本公司及其附属公司所在司法

权区法定税率计算的除税前溢利的所得

税项，与按实际所得税率计算的所

得税开支调节如下：

10. INCOME TAX EXPENSE (Continued)

A reconciliation of the tax expense aplicable to profit before tax

at the statutory tax rate for the jurisdiction in which the Company

and the majority of its subsidiaries are domiciled to the tax

expense at the efective tax rate is as folows:

Year ended 31 March

截至三月三十一日止年度

二零二五年二零二四年

RMB’000%RMB’000%

人民币千元%人民币千元%

Profit before tax除税前溢利702,734

Tax at the statutory tax rate按法定税率计算的税项175,68425.00

Adjustments in respect of curent tax

of previous periods

对过往期间即期税项的

调整–

Expenses not deductible for tax不可扣减税项的开支2,3450.33

Tax loses and temporary diferences

not recognised

未确认税务亏损及暂时

性差额8–

Efect of witholding tax at 10% on the

distributable profits of the Group’s

PRC subsidiaries

按10%计算的预扣税项

对本集团中国附属公

司可分派溢利的影响54,4347.75

Research and development super

deduction

研究及开发支出加计

抵扣(9,707)(1.38)

Total tax charge at the Group’s

efective rate

按本集团实际税率计算

的税项总支出222,76431.70

138,371
156,486
294,857

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

11. 股息

于二零二五年六月二十五日，董事会宣

布就截至二零二五年三月三十一日止年

度派付末期股息每股0.50港元。拟派末

期股息的来源预计为保留溢利。拟派末

期股息须于应届股东周年大会上获本公

司股东批准后，方可作实。

12. 本公司普通权益持有人应占

每股盈利

每股基本盈利金额乃按本公司普通权益

持有人应占年内溢利，以及年内已发行

普通股加权平均数376,040,025股（二零

二四年：380,119,975股）计算获得。

稀释每股收益数额的计算基于可归属于

母公司普通股东的当年利润。计算时

所采用的普通股加权平均数目，是根

据计算每股基本收益时所采用的年内发

行的普通股数目，以及假设在当作行使

或将所有稀释的潜在普通股转换为普通

股时没有付出代价而发行的普通股的加

权平均数目。

11. DIVIDENDS

Year ended 31 March

截至三月三十一日止年度

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Final dividends paid for the year ended 31 March

就截至二零二四年三月三十一日止年度

派付的末期股息

– HK$0.40 per ordinary share (HK$0.40

per ordinary share for the year ended 31

March 2023)

－每股普通股0.4港元（截至二零二

三年三月三十一日止年度每股普

通股0.40港元）140,122

Interim dividends paid for the six months

ended 30 September 2024

就截至二零二四年九月三十日止六个月

派付的中期股息

– HK$0.45 per ordinary share (HK$0.40

per ordinary share for the six months ended

30 September 2023)

－每股普通股0.45港元（截至二零二

三年九月三十日止六个月每股普通

股0.40港元）140,026

280,148

On 25 June 2025, the board of directors proposed the payment

of a final dividend of HK$0.50 per share for the year ended 31

March 2025. The source of the proposed dividend payment is

scheduled to be the retained profits. The proposed final dividend

is subject to the aproval by shareholders of the Company at the

forthcoming anual general meting.

12. EARNINGS PER SHARE ATRIBUTABLE

TO ORDINARY EQUITY HOLDERS OF

THE COMPANY

The calculation of the basic earnings per share amount is based

on the profit for the year atributable to ordinary equity holders

of the Company, and the weighted average number of ordinary

shares of 376,040,025 (2024: 380,119,975) outstanding during

the year.

The calculation of the diluted earnings per share amount is based

on the profit for the year atributable to ordinary equity holders

of the Company. The weighted average number of ordinary

shares used in the calculation is the number of ordinary shares

outstanding during the year, as used in the basic earnings per

share calculation, and the weighted average number of ordinary

shares asumed to have ben isued at no consideration on the

demed conversion of al dilutive potential ordinary shares into

ordinary shares.

782,417

376,040,025
1,243,082
377,283,107

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

12. 本公司普通权益持有人应占

每股盈利（续）

每股基本及摊薄盈利基于以下数据计算：

* 每股摊薄盈利金额乃根据截至二零二五年

三月三十一日止年度的利润人民币782,417

千元及年内已发行普通股加权平均数

377,283,107股得出。

12. EARNINGS PER SHARE ATRIBUTABLE

TO ORDINARY EQUITY HOLDERS OF

THE COMPANY (Continued)

The calculation of basic and diluted earnings per share is based

on:

Year ended 31 March

截至三月三十一日止年度

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Earnings溢利

Profit atributable to ordinary equity holders

of the Company used in the basic

earnings per share calculation

用于计算每股基本盈利的本公司

普通股权益持有人应占溢利

479,970

Number of shares

股份数目

二零二五年二零二四年

Shares股份

Weighted average number of ordinary

shares outstanding during the year used

in the basic earnings per share calculation

用于计算每股基本盈利的年内已发行

普通股加权平均数

380,119,975

– weighted average

number of ordinary shares:

－普通股加权平均数：

Restricted shares 限制股10,959

380,130,934

* The diluted earnings per share amount is based on the profit for the year

ended 31 March 2025 of RMB782,417,000 and the weighted average

number of ordinary shares of 377,283,107 outstanding during the year.

457,911	428,775	24,095	10,185	10,106	47,696	79,991	1,058,759
(147,273)	(275,615)	(17,933)	(8,160)	(7,854)	(34,151)	–	(490,986)
310,638	153,160	6,162	2,025	2,252	13,545	79,991	567,773
310,638	153,160	6,162	2,025	2,252	13,545	79,991	567,773
–	8,486	1,985	3,388	1,483	5,512	21,551	42,405
99,032	367	–	–	–	–	(99,399)	–
–	(663)	(51)	(93)	(53)	(32)	–	(892)
(23,904)	(20,059)	(1,817)	(1,326)	(940)	(6,743)	–	(54,789)
385,766	141,291	6,279	3,994	2,742	12,282	2,143	554,497
556,943	432,300	25,714	13,204	11,057	53,176	2,143	1,094,537
(171,177)	(291,009)	(19,435)	(9,210)	(8,315)	(40,894)	–	(540,040)
385,766	141,291	6,279	3,994	2,742	12,282	2,143	554,497

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

、厂房及设备13. PROPERTY, PLANT AND EQUIPMENT

Buildings

Plant and

machinery

Instruments

and tols

Furniture,

fixtures

and ofice

equipment

Motor

vehicles

Leasehold

Improvement

Construction

in progresTotal

楼宇厂房及机器仪器及工具

家私，

装置及

办公室设备汽车物业装修在建工程总计

RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000

人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元

31 March 2025二零二五年三月三十一日

At 31 March 2024:于二零二四年三月三十一日：

Cost 成本

Acumulated depreciation 累计折旧

Net carying amount 账面净值

At 31 March 2024, net of

acumulated depreciation

于二零二四年三月三十一日，

已扣除累计折旧

Aditions 添置

Transfers 在建工程转入

Disposals 处置

Depreciation provided during

the year

年内计提折旧

At 31 March 2025, net of

acumulated depreciation

于二零二五年三月三十一日，

已扣除累计折旧

At 31 March 2025:于二零二五年三月三十一日：

Cost 成本

Acumulated depreciation 累计折旧

Net carying amount 账面净值

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

、厂房及设备（续）13. PROPERTY, PLANT AND EQUIPMENT

(Continued)

Buildings

Plant and

machinery

Instruments

and tols

Furniture,

fixtures

and ofice

equipment

Motor

vehicles

Leasehold

Improvement

Construction

in progresTotal

楼宇厂房及机器仪器及工具

家私，

装置及

办公室设备汽车物业装修在建工程总计

RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000

人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元

31 March 2024二零二四年三月三十一日

At 31 March 2023:于二零二三年三月三十一日：

Cost 成本457,911418,69523,4749,82410,08543,39220,897984,278

Acumulated depreciation 累计折旧(126,572)(264,778)(16,496)(7,205)(6,941)(26,297)–(448,289)

Net carying amount 账面净值331,339153,9176,9782,6193,14417,09520,897535,989

At 31 March 2023, net of

acumulated depreciation

于二零二三年三月三十一日，

已扣除累计折旧331,339153,9176,9782,6193,14417,09520,897535,989

Aditions 添置–4,3821,002499214,30476,05286,260

Transfers 在建工程转入–16,785173–(16,958)–

Disposals 处置–(1,364)(146)(14)–(1,524)

Depreciation provided during

the year

年内计提折旧

(20,701)(20,560)(1,845)(1,079)(913)(7,854)–(52,952)

At 31 March 2024, net of

acumulated depreciation

于二零二四年三月三十一日，

已扣除累计折旧310,638153,1606,1622,0252,25213,54579,991567,773

At 31 March 2024:于二零二四年三月三十一日：

Cost 成本457,911428,77524,09510,18510,10647,69679,9911,058,759

Acumulated depreciation 累计折旧(147,273)(275,615)(17,933)(8,160)(7,854)(34,151)–(490,986)

Net carying amount 账面净值310,638153,1606,1622,0252,25213,54579,991567,773

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

14. 租赁

本集团作为承租人

本集团有租赁楼宇及土地的租赁合约。

本集团已提前一次性支付款项以获取租

赁土地，租期为40至50年，根据此类土

地租赁的条款，将不会继续支付任何款

项。楼宇的租期通常为1至5年。一般而

言，本集团不可向本集团以外人士转让

及分租赁资产。

(a) 使用权资产

本集团的使用权资产账面价值以

及年内变动如下：

14. LEASES

The Group as a lese

The Group has lease contracts for buildings and leasehold land

used in its operation. Lump sum payments were made upfront

to acquire the leased land from the owners with lease periods

of 40 to 50 years, and no ongoing payments wil be made under

the terms of these land leases. Leases of buildings generaly

have lease terms betwen 1 and 5 years. Generaly, the Group

is restricted from asigning and subleasing the leased asets

outside the Group.

(a) Right-of-use asets

The carying amounts of the Group’s right-of-use asets

and the movements during the year are as folows:

Leasehold

landBuildingsTotal

租赁土地楼宇总计

RMB’000RMB’000RMB’000

人民币千元人民币千元人民币千元

As at 31 March 2023于二零二三年四月一日68,2343,47471,708

Aditions添置–3,9463,946

Depreciation charge计提折旧(1,814)(2,578)(4,392)

As at 31 March 2024 and 1

April 2024

于二零二四年三月三十一日

及二零二四年四月一日66,4204,84271,262

Aditions添置–844844

Depreciation charge计提折旧(1,814)(2,636)(4,450)

As at 31 March 2025于二零二五年三月三十一日64,6063,05067,656

4,086
844
42
(2,629)
2,343
1,338
1,005

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

（续）

本集团作为承租人（续）

(b) 租赁负债

租赁负债账面价值以及年内变动

如下：

租赁负债的期限分析载于财务报

表附注34。

14. LEASES (Continued)

The Group as a lese (Continued)

(b) Lease liabilities

The carying amount of lease liabilities and the movements

during the year are as folows:

Year ended 31 March

截至三月三十一日止年度

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Carying amount at 1 April于四月一日的账面价值3,158

New leases新租赁3,946

Acretion of interest recognised

during the year (note 7)

年内确认利息的增加（附注7）

Payments付款(3,101)

Carying amount at 31 March于三月三十一日的账面价值4,086

Analysed into:按以下项目分析：

Curent portion 即期部分2,184

Non-curent portion 非即期部分1,902

The maturity analysis of lease liabilities is disclosed in note

34 to the financial statements.

42
4,450
3,363
7,855

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

（续）

本集团作为承租人（续）

下：

(d) 租赁现金流出总额载于财务报表

附注29(c)。

14. LEASES (Continued)

The Group as a lese (Continued)

leases are as folows:

Year ended 31 March

截至三月三十一日止年度

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Interest on lease liabilities租赁负债利息支出83

Depreciation charge of right-of-use

asets

使用权资产折旧开支

4,392

Expense relating to short-term

leases (included in administrative

expenses and seling and

distribution expenses) (note 6)

有关短期租赁的开支

（计入行政开支、销售及分销开支）

（附注6）

2,709

Total amount recognised in profit or

los

于损益内确认款项总额

7,184

(d) The total cash outflow for leases is disclosed in note 29(c)

to the financial statements.

1,330	4,145	–	5,475
–	2,524	–	2,524
–	(1,684)	–	(1,684)
1,330	4,985	–	6,315
1,330	14,236	307	15,873
–	(9,251)	(307)	(9,558)
1,330	4,985	–	6,315

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

15．无形资产15. INTANGIBLE ASETS

Golf

membershipSoftwareLicenceTotal

高尔夫会籍软件许可总计

RMB’000RMB’000RMB’000RMB’000

人民币千元人民币千元人民币千元人民币千元

31 March 2025二零二五年三月三十一日

Cost at 1 April 2024, net of

acumulated amortisation

于二零二四年四月一日的

成本，扣除累计摊销

Aditions添置

Amortisation provided during

the year

年内摊销

At 31 March 2025于二零二五年三月三十一日

At 31 March 2025:于二零二五年三月三十一日

Cost 成本

Acumulated amortisation 累计摊销

Net carying amount 账面净值

31 March 2024二零二四年三月三十一日

Cost at 1 April 2023, net of

acumulated amortisation

于二零二三年四月一日的成本，

扣除累计摊销1,3303,814–5,144

Cost at 1 April 2023, net of

acumulated amortisation

于二零二三年四月一日的

成本，扣除累计摊销1,3303,814–5,144

Aditions添置–1,724–1,724

Amortisation provided during

the year

年内摊销

–(1,393)–(1,393)

At 31 March 2024于二零二四年三月三十一日1,3304,145–5,475

At 31 March 2024 and

at 1 April 2024:

于二零二四年三月三十一日

及二零二四年四月一日

Cost 成本1,33011,71230713,349

Acumulated amortisation 累计摊销–(7,567)(307)(7,874)

Net carying amount账面净值1,3304,145–5,475

4,750

262,512
220,124
454,571
937,207
(6,863)
930,344

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

16. 指定为以公允价值计量且其

变动计入其他综合收益的股

权投资

上述股权投资不可撤销地指定为以公允

价值计量且其变动计入其他综合收益，

因为本集团认为该投资具有战略性质。

安徽津兴精密机械科技有限公司（「安徽

津兴」）设立于二零二年八月，注册资

本为人民币5,000万元，集团持有总股份

的19%。截至二零二五年三月三十一日

止年度，本集团支付了人民币975千元的

实收资本(截至二零二四年三月三十一日

止年度：人民币975千元)，未收到安徽

津兴的股息。

17. 存货

16. EQUITY INVESTMENTS DESIGNATED

AT FAIR VALUE THROUGH OTHER

COMPREHENSIVE INCOME

Year ended 31 March

于三月三十一日

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Equity investments designated at fair value

through other comprehensive income

指定为以公允价值计量且其变动计入

其他综合收益的股权投资

Non-listed equity investments, at fair value非上市股权投资，以公允价值计量

Anhui Jinxing Precision Machinery

Technology Co., Ltd.

安徽津兴精密机械科技股份有限公司

3,775

The above equity investments were irevocably designated at

fair value through other comprehensive income as the Group

considers this investment to be strategic in nature.

Anhui Jinxing Precision Machinery Technology Co., Ltd. (“Anhui

Jinxing”) was set up in August 2022 with registered capital of

RMB50,000,000 and the Group held 19% of total shares. During

the year ended 31 March 2025, the Group contributed in capital

of RMB975,000 (2024: RMB975,000) to Anhui Jinxing and

received no dividends from Anhui Jinxing.

17. INVENTORIES

Year ended 31 March

于三月三十一日

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Raw materials原材料274,915

Work in progres在制品194,020

Finished gods制成品392,260

861,195

Provision against inventories存货跌价准备(4,120)

Total总计857,075

224,032
1,349,782
1,573,814
(7,123)
1,566,691

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

18. 应收贸易款项及票据

* 应收贸易款项包括来自控股东及其他关联

方的应收贸易款项（附注31(c)）.

在本集团将货品交付予客户前，客户通

常须提前付款。然而，本集团与若干具

有良好还款记录及较高声誉的主要客户

的贸易条款属于赊账形式，信贷期一般

为一至六个月。本集团致力于严格控制

其尚未收回的应收款项，且有信贷控制

部门将信贷风险降至最低。高级管理层

定期审阅逾期结余。本集团并无就其应

收贸易账款结余持有任何抵押品或其他

信贷增级工具。应收贸易款项为无抵

押、不计息。

于二零二五年三月三十一日，本集团向

若干供应商背书获中国若干银行接受的

若干应收票据（「背书票据」），以结清

应付予该等供应商的账面价值合计人民

币124,123千元（二零二四年：人民币

236,234千元）应付贸易款项（「背书」）。

此外，本集团对部分中国内地银行承兑

的应收票据（「贴现票据」）进行贴现，本

年未发生相关金额（二零二四年：人民

币2,205千元）（「贴现」）。根据中国票据

法，倘银行违约，背书票据及贴现票据

持有人有权向本集团追索（「继续涉入」）。

18. TRADE AND NOTES RECEIVABLES

Year ended 31 March

于三月三十一日

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Trade receivables应收贸易款项111,688

Notes receivables应收票据871,290

982,978

Impairment减值(1,441)

Net carying amount账面净值981,537

* Trade receivables include trade receivables from the Controling Shareholder

and other related parties (note 31(c).

Customers are usualy required to make payment in advance

before the Group delivers gods to them. However, the Group’s

trading terms with certain major customers with god repayment

history and high reputations are on credit. The credit period

is generaly one to six months. The Group seks to maintain

strict control over its outstanding receivables and has a credit

control department to minimise credit risk. Overdue balances are

reviewed regularly and actively by senior management. The Group

does not hold any colateral or other credit enhancements over its

trade receivable balances. Trade receivables are unsecured and

non-interest-bearing.

At 31 March 2025, the Group endorsed certain notes receivable

not yet due as of year end acepted by banks in Mainland China

(the “Endorsed Notes”) to some of its supliers in order to setle

the trade payables due to such supliers with a carying amount

in agregate of RMB124,123,000 (2024: RMB236,234,000)

(the “Endorsement”). In adition, the Group discounted certain

notes receivable not yet due as of year end acepted by banks in

Mainland China (the “Discounted Notes”) with a carying amount

in agregate of nil (2024: RMB2,205,000) (the “Discount”). In

acordance with the Law of Negotiable Instruments in the PRC,

the holders of the Endorsed Notes and the Discounted Notes

have the right of recourse against the Group if the Mainland China

banks default (the “Continuing Involvement”).

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

（续）

董事认为，本集团已转移与若干获大型

及知名银行承兑的金额为人民币77,423

千元（二零二四年：人民币94,400千元）

的背书票据及金额为人民币零元（二零二

四年：人民币2,205千元）的贴现票据有

关的绝大部分风险及回报（「终止确认票

据」）。因此，本集团已终止确认该等终

止确认票据及以背书票据结清的相关应

付贸易款项的全部账面值。

本集团对终止确认票据的继续涉入产生

的最大损失风险以及购回该等终止确认

票据的未折现金流量等于其账面价

值。董事认为，本集团继续涉入终止确

认票据的公允价值并不重大。

于二零二五年三月三十一日，本集团继

续确认剩余背书票据及相关应付贸易款

项，金额为人民币46,700千元（二零二四

年：人民币141,834千元）原因为董事相

信本集团已保留绝大部分风险及回报，

包括有关该等剩余背书票据的违约风险。

本年度，本集团并无于转让终止确认票

据日期确认任何损益。于年内或累计过

程中概无确认继续涉入产生的损益。

根据国际财务报告准则第9号，应收票据

人民币572,368千元分类为按公允价值计

量且其变动计入其他综合收益的金融资

产，人民币777,414千元分类为以摊余成

本计量的金融资产。

18. TRADE AND NOTES RECEIVABLES

(Continued)

In the opinion of the directors, the Group has transfered

substantialy al the risks and rewards relating to certain of

the Endorsed Notes and Discounted Notes acepted by large

and reputable banks with amounts of RMB77,423,000 (2024:

RMB94,400,000) and nil (2024: RMB2,205,000), respectively

(the “Derecognised Notes”). Acordingly, the Group has

derecognised the ful carying amounts of these Derecognised

Notes and the asociated trade payables setled by the Endorsed

Notes.

The maximum exposure to los from the Group’s Continuing

Involvement in the Derecognised Notes and the undiscounted

cash flows to repurchase these Derecognised Notes is equal to

their carying amounts. In the opinion of the directors, the fair

values of the Group’s Continuing Involvement in the Derecognised

Notes are not significant.

At 31 March 2025, the Group continued to recognise the

ful carying amount of the remaining Endorsed Notes and

the asociated trade payables setled with an amount of

RMB46,700,000 (2024: RMB141,834,000) because the directors

believe that the Group has retained the substantial risks and

rewards, which include default risks relating to such remaining

Endorsed Notes.

During the year, the Group has not recognised any gain or los

on the date of transfer of the Derecognised Notes. No gains or

loses were recognised from the Continuing Involvement, both

during the year or cumulatively.

Notes receivable of RMB572,368,000 were clasified as financial

asets at fair value through other comprehensive income under

IFRS 9, and RMB777,414,000 were clasified as financial asets

at amortized cost under IFRS 9.

216,374
489
46
216,909

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

（续）

应收款项为实体无条件收取代价的权

利。实体应根据国际财务报告准则第9号

确认应收款项。于初步确认来自客户合

约的应收款项时，根据国际财务报告准

则第9号计量应收款项与相应已确认收

益金额之间的任何差额将呈列为减值亏

损。在按公允价值计量且其变动计入其

他综合收益的金融资产的后续计量中，

减值转回计入损益表，计算方法与以摊

余成本计量的金融资产相同。其余公允

价值变动计入其他综合收益。

本集团的应收票据账龄均为六个月内，

且并无逾期。

于报告期末，按发票日期划分的应收贸

易款项（扣除拨备）的账龄分析如下：

18. TRADE AND NOTES RECEIVABLES

(Continued)

A receivable is an entity’s right to consideration that is

unconditional. An entity shal recognize a receivable in

acordance with IFRS 9. Upon initial recognition of a receivable

from a contract with a customer, any diference betwen the

measurement of the receivable in acordance with IFRS 9 and the

coresponding amount of revenue recognised shal be presented

as an impairment los. In the subsequent measurement of

financial asets at fair value through other comprehensive income,

impairment reversals are recognised in the statement of profit or

los and computed in the same maner as for financial asets

measured at amortised cost. The remaining fair value changes are

recognised in other comprehensive income.

The Group’s notes receivables were al aged within six months

and none of them has past due.

An ageing analysis of the trade receivables as at the end of

the reporting period, based on the invoice date and net of los

alowance, is as folows:

Year ended 31 March

于三月三十一日

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Within 3 months3个月以内110,211

3 months to 6 months3个月以上至6个月以内36

6 months to 9 months6个月以上至9个月以内–

Total总计110,247

1,441
5,682
7,123

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

（续）

应收贸易款项亏损拨备之变动如下：

亏损拨备增加（二零二四年：减少）乃由

于账面总值的以下重大变化：

(i). 亏损拨备增加人民币5,682千元

（二零二四年：减少人民币20千

元）乃由于清算应收贸易款项及产

生新应收贸易款项后账面总值净

增加（二零二四年：减少）;

于各报告日期均采用拨备矩阵进行减值

分析，以计量预期信贷损失。拨备率根

据销售类型、客户类型和评级，针对损

失模式相似的不同客户细分市场的分

组，计提比例基于逾期天数。该计算反

映概率加权结果、货币时间价值及于报

告日期可得的有关过往事项、当前条件

及未来经济条件预测的合理及可靠资料。

18. TRADE AND NOTES RECEIVABLES

(Continued)

The movements in the los alowance for impairment of trade

receivables are as folows:

Year ended 31 March

于三月三十一日

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

At the begining of the year于年初1,461

Impairment loses, net (note 6)减值准备（净值）（附注6）(20)

At the end of the year于年末1,441

The increase (2024: decrease) in the los alowance was due to

the folowing change in the gros carying amount:

(i) A increase in the los alowance of RMB5,682,000 (2024:

decrease of RMB20,000) as a result of a net increase

(2024: decrease) in the gros carying amount after the

setlement of trade receivables and origination of new trade

receivables.

An impairment analysis is performed at each reporting date

using a provision matrix to measure expected credit loses. The

provision rates are based on days past due for groupings of

various customer segments with similar los paterns acording to

the sales type, customer type and rating. The calculation reflects

the probability-weighted outcome, the time value of money and

reasonable and suportable information that is available at the

reporting date about past events, curent conditions and forecasts

of future economic conditions.

0.453%	–	–	–	0.453%
1,573,814	–	–	–	1,573,814
7,123	–	–	–	7,123

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

（续）

以下为本集团采用拨备矩阵计量的贸易

应收款项及应收票据之信用风险敞口资

料：

于二零二五年三月三十一日

于二零二四年三月三十一日

18. TRADE AND NOTES RECEIVABLES

(Continued)

Set out below is the information about the credit risk exposure on

the Group’s trade and notes receivables using a provision matrix:

As at 31 March 2025

Past due

逾期

Curent

Les than

1 month

1 to

3 months

Over

3 monthsTotal

现时1个月以内1至3个月超过3个月总计

Expected credit los rate预期信贷损失率

Gros carying amount (RMB’000)账面总值（人民币千元）

Expected credit loses (RMB’000)预期信贷损失（人民币千元）

As at 31 March 2024

Past due

逾期

Curent

Les than

1 month

1 to

3 months

Over

3 monthsTotal

现时1个月以内1至3个月超过3个月总计

Expected credit los rate预期信贷损失率0.147%–0.147%

Gros carying amount (RMB’000)账面总值（人民币千元）982,978–982,978

Expected credit loses (RMB’000)预期信贷损失（人民币千元）1,441–1,441

11,505
–
4,788
16,293
(6)
16,287

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

、其他应收款项及

其他资产

本集团于各报告日期进行减值分析，并

参考本集团过往亏损记录使用损失率法

估计预期信贷亏损。损失率将于适当时

候作出调整以反映现时状况及未来经济

状况预测。于二零二五年三月三十一

日采用的损失率为0.1%（二零二四年：

0.1%）。

预付款项、其他应收款项及其他资产为

无抵押、免息及无固定还款期。

计入上述结余的金融资产与近期并无违

约记录及逾期金额的应收款项有关。于

二零二五年及二零二四年三月三十一

日，亏损拨备评估为微小。

19. PREPAYMENTS, OTHER RECEIVABLES

AND OTHER ASETS

于三月三十一日

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Prepayments预付款项5,852

Deductible VAT可扣减增值税进项2,752

Other receivables and other asets其他应收款项及其他资产4,744

13,348

Impairment alowance坏账准备(5)

Total总计13,343

An impairment analysis is performed at each reporting date, and

expected credit loses are estimated by aplying a los rate

aproach with reference to the historical los record of the Group.

The los rate is adjusted to reflect the curent conditions and

forecasts of future economic conditions, as apropriate. The los

rate aplied as at 31 March 2025 was 0.1% (2024: 0.1%).

Prepayments, other receivables and other asets are unsecured,

non-interest-bearing and have no fixed terms of repayment.

The financial asets included in the above balances relate to

receivables for which there was no recent history of default and

past due amounts. As at 31 March 2025 and 2024, the los

alowance was asesed to be minimal.

1,081,652
(691,588)
390,064

1,002,164
26,796
52,692
1,081,652

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

20. 现金及银行结余

本集团于每个报告截止日时的现金及银

行结余以下列货币计算：

报告期末，本集团以人民币计价的现金

和银行余额为人民币1,002,164千元（二

零二四年：人民币1,093,690千元）。人

民币不能自由兑换为其他货币，然而根

据中国内地《外汇管理条例》及《结汇、售

汇及付汇管理规定》，本集团获准通过获

授权经营外汇业务的银行将人民币兑换

为其他货币。

银行现金按每日银行存款利率赚取浮动

利息。短期定期存款期限由一天至三个

月不等，视本集团的即时现金需求而

定，并以相应的短期定期存款利率赚取

利息。原到期日为三个月以上的定期存

款按固定利率计息，期限为三个月到一

年不等。银行结余及已抵押存款存置于

最近无违约记录且信誉良好的银行。

20. CASH AND BANK BALANCES

Year ended 31 March

于三月三十一日

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Cash and bank balances现金及银行结余1,111,063

Les: Ti me deposits with original maturity

of more than thre months

减：到期日为三个月以上的定期存款

(433,056)

Cash and cash equivalents现金及现金等价物678,007

The Group’s cash and bank balances as at the end of each

reporting period are denominated in the folowing curencies:

Year ended 31 March

于三月三十一日

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Denominated in RMB以人民币计值1,093,690

Denominated in JPY以日圆计值14,020

Denominated in HK$以港元计值3,353

Total总计1,111,063

The cash and bank balances of the Group denominated in

RMB amounted to RMB1,002,164,000 (31 March 2024:

RMB1,093,690,000) at the end of the reporting period. The RMB

is not frely convertible into other curencies, however, under

Mainland China’s Foreign Exchange Control Regulations and

Administration of Setlement, and Sale and Payment of Foreign

Exchange Regulations, the Group is permited to exchange RMB

for other curencies through banks authorised to conduct foreign

exchange busines.

Cash at banks earns interest at floating rates based on daily bank

deposit rates. Short term time deposits are made for varying

periods of betwen one day and thre months depending on the

imediate cash requirements of the Group and earn interest at

the respective short term time deposit rates. Time deposits with

original maturity of more than thre months earn interest at fixed

interest rates for varying periods of betwen thre months and

one year. The bank balances and pledged deposits are deposited

with creditworthy banks with no recent history of default.

531,980
78,537
610,517

531,930
50
531,980

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

21. 应付贸易款项及票据

* 应付贸易款项包括应付控股东的应付贸易

款项（附注31(c)）.

于报告期末，基于发票日期的未偿还应

付贸易款项的账龄分析如下：

应付贸易款项为免息，应付第三方的贸

易款项一般于90天内清偿。

21. TRADE AND NOTES PAYABLES

Year ended 31 March

于三月三十一日

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Trade payables应付贸易款项452,107

Notes payable应付票据81,676

Total总计533,783

* Trade payables include trade payables to the Controling Shareholder (note

31(c).

An ageing analysis of the outstanding trade payables as at the

end of the reporting period, based on the invoice date, is as

folows:

Year ended 31 March

于三月三十一日

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Within 3 months3个月以内452,099

Over 3 months超过3个月8

Total总计452,107

Trade payables are non-interest-bearing, and trade payables to

third parties are normaly setled on terms within 90 days.

84,442
58,090
49,924
21,493
213,949

84,442

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

22. 其他应付款项及应计费用

附注：

(a) 合同负债详情如下：

合同负债包括为交付数控高精密机床而收取

的短期垫款。于二零二五年三月三十一日的

合同负债增加主要归因于就年末数控高精密

机床销售相关已收客户短期垫款增加。

(b) 其他应付款项为无抵押、免息及一年内还

款。

22. OTHER PAYABLES AND ACRUALS

Year ended 31 March

于三月三十一日

二零二五年二零二四年

NotesRMB’000RMB’000

附注人民币千元人民币千元

Contract liabilities合同负债(a)92,107

Other payables其他应付款项(b)45,982

Payrol and welfare acruals应计工资及福利35,874

Acruals应计费用15,791

Total总计189,754

Notes:

(a) Details of contract liabilities are as folows:

Year ended 31 March

于三月三十一日

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Short-term advances received from customers已收客户短期垫款

Sale of gods销售货品92,107

Contract liabilities include short-term advances received to deliver CNC high

precision machine tols. The decrease in contract liabilities as at 31 March

2025 was mainly due to the decrease in short-term advances received from

customers in relation to the sale of CNC high precision machine tols at the

end of the year.

(b) Other payables are unsecured, non-interest-bearing and repayable within

one year.

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

23. 拨备

本集团就其若干精密数控机床向其客户

提供一年保修，据此，有瑕疪的产品可

修理或更换。保修拨备的金额根据销量

及修理和退货水平的过往经验估计。该

估计基准会作持续复核并在适当时修订。

23. PROVISION

Waranties

保修拨备

RMB’000

人民币千元

At 1 April 2024于二零二四年四月一日6,995

Aditional provision本年度计入损益的增加的拨备16,433

Amounts utilised during the year于本年度使用的金额(13,037)

At 31 March 2025于二零二五年三月三十一日10,391

Analysis of total provision拨备总额分析

Curent即期10,391

The Group provides one-year waranties to its customers on

certain of its precision CNC machines, under which faulty

products are repaired or replaced. The amount of the provision

for the waranties is estimated based on sales volumes and past

experience of the level of repairs and returns. The estimation basis

is reviewed on an ongoing basis and revised where apropriate.

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

24. 递延税项

已确认递延税项资产及递延税项负债年

内变动如下：

递延税项资产

24. DEFERED TAX

The movements in defered tax liabilities and asets during the

year are as folows:

Defered tax asets

Provision/

acruals

and acrued

bonus

Inventory

provision

Provision for

receivablesTax loses

Fair value

adjustments

of financial

asets at

fair value

through other

comprehensive

income

Defered

income

Lease

liabilitiesOthersTotal

拨备

应计费用存货跌价

应收款项

减值

可抵扣

亏损

按公允价值计量且

其变动计入其他

综合收益的投资

公允价值调整递延收益租赁负债其他总计

RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000

人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元

Defered tax asets

at 1 April 2023

于二零二三年四月一日的

递延税项资产）

11,7686923672,8548134,1057902,67424,063

Defered tax

credited/(charged)

to profit or los

during the year

年内于损益表中计入╱

（扣除）的递延税项

(1,235)338(6)(1,383)(579)420231192(2,022)

Defered tax asets

at 31 March 2024

and 1 April 2024

于二零二四年三月三十一日

及二零二四年四月一日的

递延税项资产

10,5331,0303611,4712344,5251,0212,86622,041

Defered tax asets

at 31 March 2024

and 1 April 2024

于二零二四年三月三十一日

及二零二四年四月一日的

递延税项资产

10,5331,0303611,4712344,5251,0212,86622,041

Defered tax

credited/(charged)

to profit or los

during the year

年内于损益表中计入╱

（扣除）的递延税项

3,2286861,420(780)133(375)(435)1,1415,016

Defered tax asets

at 31 March 2025

于二零二五年三月三十一日

的递延税项资产

13,7611,7161,7816893674,1505864,00727,057

763
26,294
116,361

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

（续）

递延税项负债

出于列报目的，某些递延所得税资产和

负债已在财务状况表中抵销。以下是出

于财务报告目的对本集团递延所得税余

额的分析：

24. DEFERED TAX (Continued)

Defered tax liabilities

Witholding

tax

Right-of-use

asetsTotal

预扣税使用权资产总计

RMB’000RMB’000RMB’000

人民币千元人民币千元人民币千元

Defered tax liabilities at 1 April 2023于二零二三年四月一日的递延税项

负债78,10674978,855

Defered tax charged to profit or los

during the year

年内于损益表中计入的递延税项

13,17436013,534

Defered tax liabilities at 31 March

2024 and 1 April 2024

于二零二四年三月三十一日及二零

二四年四月一日的递延税项负债91,2801,10992,389

Defered tax charged to profit or los

during the year

年内于损益表中计入的递延税项

25,081(346)24,735

Defered tax liabilities at 31 March

于二零二五年三月三十一日的递延

税项负债116,361763117,124

For presentation purposes, certain defered tax asets and

liabilities have ben ofset in the statement of financial position.

The folowing is an analysis of the defered tax balances of the

Group for financial reporting purposes:

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Defered tax ofset in the consolidated

statement of financial position

合并财务状况表中的递延所得税抵销

1,109

Net defered tax asets recognized in

the consolidated statement of financial

position

在合并财务状况表中确认的递延所得税

资产净额

20,932

Net defered tax liability recognized in

the consolidated statement of financial

position

在合并财务状况表中确认的递延所得税

负债净额

91,280

10,862

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

（续）

以下项目未确认递延税项资产：

以上税务亏损可抵扣产生亏损之公司的

未来应课税溢利。由于不可能有应课税

溢利可用作抵销以上项目，因此并未就

以上项目确认递延税项资产。

本集团对在中国大陆设立的子公司根据

中国企业所得税法自二零八年一月一

日起分配的股息承担预提所得税的责

任。本集团适用税率为10%。

于二零二五年三月三十一日，与投资于

中国内地附属公司相关的暂时差额总额

约为人民币639,944千元（二零二四年：

人民币639,944千元），尚未就此金额确

认递延税项负债。董事认为，此等附属

公司不大可能于可预见未来分派该等盈

利。

24. DEFERED TAX (Continued)

Defered tax asets have not ben recognised in respect of the

folowing item:

Year ended 31 March

于三月三十一日

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Tax loses税务亏损10,134

The above tax loses are available for ofseting against future

taxable profits of the companies in which the loses arose.

Defered tax asets have not ben recognised in respect of the

above item as it is not considered probable that taxable profits

wil be available against which the tax loses can be utilised.

The Group is liable for witholding taxes on dividends distributed

by those subsidiaries established in Mainland China in respect of

earnings generated from 1 January 2008. The aplicable rate is

10% for the Group.

As at 31 March 2025, the agregate amount of temporary

diferences asociated with investments in subsidiaries in

Mainland China for which defered tax liabilities have not ben

recognised totaled aproximately RMB639,944,000 (2024:

RMB639,944,000). In the opinion of the directors, it is not

probable that these subsidiaries wil distribute such earnings in

the foreseable future.

16,600

1,000,000

380,554

319,626

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

25. 递延收入

递延收入指就物业、厂房及设备活动收

取的无条件政府补助。于二零二五年三

月三十一日及二零二四年三月三十一日

的递延收入结余如下：

26. 已发行股本

股份

25. DEFERED INCOME

Defered income represents unconditional government grants

received in respect of activities related to property, plant and

equipment. The balances of defered income as at 31 March

2025 and 2024 are as folows:

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Government grants政府补助18,099

26. ISUED CAPITAL AND TREASURY

As at 31 March

于三月三十一日

二零二五年二零二四年

HK$’000HK$’000

千港元千港元

Authorised: 1,000,000,000 ordinary shares

of HK$1.00 each

法定：1,000,000,000股每股面值1.00

港元的普通股1,000,000

As at 31 March

于三月三十一日

二零二五年二零二四年

HK$’000HK$’000

千港元千港元

Isued and fuly paid:已发行及缴足：

380,554,000 (2024: 380,804,000) ordinary

380,554,000股（二零二四年：

380,804,000股）普通股380,804

RMB’000RMB’000

人民币千元人民币千元

Equivalent to RMB相当于人民币元319,836

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

（续）

股本和库存股

二零二四年四月一日至二零二五年四月

一日期间已发行股本及库存股的变动情

况如下：

(a) 截至二零二五年三月三十一日止年度，本

公司及获委任的受托人于香港联交所回购

2,620,000股份，总代价为人民币61,736

千元。

(b) 截至二零二五年三月三十一日止年度，本公

司于香港联交所注销250,000股份，总代

价为人民币2,109千元。

26. ISUED CAPITAL AND TREASURY

SHARES (Continued)

Shares capital and treasury share

Movements in the isued share capital and treasury share from 1

April, 2024 to 31 March, 2025 were as folows:

Number of

shares in

isue

capital

Treasury

shareTotal

已发行股份

数目股本库存股合计

RMB’000RMB’000RMB’000

人民币千元人民币千元人民币千元

At 31 March 2024 and

1 April 2024

于二零二四年三月三十一日及

二零二四年四月一日380,804,000319,836(27,431)292,405

Shares repurchased (a)回购股份(a)–(61,736)(61,736)

Ordinary shares canceled (b)注销库存股(b)(250,000)(210)2,1091,899

At 31 March 2025于二零二五年三月三十一日380,554,000319,626(87,058)232,568

(a) During the year ended 31 March 2025, the Company and the Truste

apointed repurchased 2,620,000 of the Company’s shares on the Hong

Kong Stock Exchange at a total consideration of RMB61,736,000.

(b) During the year ended 31 March 2025, the Company canceled 250,000

of the Company’s shares on the Hong Kong Stock Exchange at a total

consideration of RMB2,109,000.

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

27. 以股份为基础的付款

股份奖励计划

本公司根据二零二三年十一月十一日

（「采纳日」）通过的决议案采纳股份奖励

计划，目的是(i)认可若干合资格参与者的

贡献，并通过他们拥有本公司股权及共

享本集团战略发展成果的机会为合资格

参与者提供激励，为本集团作出贡献并

提高本公司及股份的价值，从而使本公

司及股东整体受益。(i)为本集团的进一步

发展挽留人才及吸引合适人才。除非董

事会委员会根据计划规则提前终止，否

则本计划的有效期为采纳日起计十年，

该期间之后，不得再授出或接受任何奖

励。

可授予的奖励股份数量上限为

22,848,240股，不超过本公司于采纳日

已发行股份的6%。计划内每名合资格参

与者获批出的奖励股份上限为本公司于

采纳日已发行股份的1%。

于二零二四年三月十一日，向31名承受

人授予2,225,000股奖励股份。于合共

2,225,000股奖励股份中，1,300,000股

奖励股份授予身为本集团关连人士的四

名董事及十名雇员，而余下925,000股奖

励股份授予本集团其他雇员。年内并无

奖励股份被没收或行使。

27. SHARE-BASED PAYMENTS

Share award scheme

The Company adopted the Share award scheme (the “Scheme”)

pursuant to the resolutions pased on 11 November, 2023 (the

“Adoption Date”), for the purpose of (i) recognising contributions

made by certain eligible participants and providing the eligible

participants with incentives to, through their oportunity in

ownership of the equity interests in the Company and sharing of

the results of the Group’s strategic development, contribute to

the Group and increase the value of the Company and the shares,

thereby benefiting the Company and the shareholders as a whole;

and (i) retaining talents and atracting suitable personel for

further development of the Group. Unles terminated earlier by the

Board Comite pursuant to the rules of Scheme, the Scheme

shal be valid and efective for a term of 10 years comencing

from the adoption date, and after which period, no further awards

shal be granted or acepted.

The maximum of shares awarded in the Scheme shal not exced

22,848,240, 6% of the isued share capital of the Company as at

the Adoption Date. The maximum number of shares awarded to

each eligible participant under the Scheme shal not exced 1%

of the isued shares of the Company as at the Adoption Date.

On 11 March 2024, 2,225,000 shares were granted to 31

grantes with the same vesting period of thre years. Among

the agregate 2,225,000 awarded shares, 1,300,000 awarded

shares are granted to four Directors and ten employes who are

conected persons of the Group, and the remaining 925,000

awarded shares are granted to other employes of the Group.

There are no award shares forfeited or exercised during the year.

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

（续）

股份奖励计划（续）

经计及联交所于授出奖励股份日期发布

的每日报价表所报收市价每股份9.29

港元，2,225,000股奖励股份的公允价值

相当于约20,670,250港元。本集团于截

至二零二五年三月十一日止年度继续确

认了以权益结算的股份支付费用人民币

5,822,844元（截至二零二四年三月十一

日止年度：人民币304,932元）。

于二零二五年三月七日，向58名承受

人授予2,404,000股奖励股份。于合共

2,404,000股奖励股份中，1,250,000股

奖励股份授予身为本集团关连人士的两

名董事及十名雇员，而余下1,154,000股

奖励股份授予本集团其他雇员。年内并

无奖励股份被没收或行使。

经计及联交所于授出奖励股份日期发布

的每日报价表所报收市价每股份20.50

港元，2,404,000股奖励股份的公允价值

相当于约49,282,000港元。本集团于截

至二零二五年三月十一日止年度根据本

计划确认了以权益结算的股份支付费用

人民币925,846元。

根据国际财务报告准则第2号，奖励股份

的公允价值是根据授予日的可观察市场

价格计量的。

27. SHARE-BASED PAYMENTS (Continued)

Share award scheme (Continued)

The 2,225,000 awarded shares represent the fair value of

aproximately HK$20,670,250, taking into acount of the closing

price of HK$9.29 per share as stated in the daily quotation

shets isued by the Stock Exchange on the date of grant of the

awarded shares. The Group recognised the equity-setled share-

based payment expense of RMB5,822,844 during the year ended

March 31, 2025 under the Scheme (During the year ended March

31, 2024: RMB304,932).

On 7 March, 2025, 2,404,000 shares were granted to 58 grantes

with the same vesting period of thre years. Among the agregate

2,404,000 awarded shares, 1,250,000 awarded shares are

granted to two Directors and ten employes who are conected

persons of the Group, and the remaining 1,154,000 awarded

shares are granted to other employes of the Group. There are no

award shares forfeited or exercised during the year.

The 2,404,000 awarded shares represent the fair value of

aproximately HK$49,282,000, taking into acount of the closing

price of HK$20.50 per share as stated in the daily quotation

shets isued by the Stock Exchange on the date of grant of the

awarded shares, of which the Group recognised the equity-setled

share-based payment expense of RMB925,846 during the year

ended March 31, 2025 under the Scheme.

The fair value of the award share is measured on the basis of an

observable market price as at the grant date in acordance with

IFRS 2.

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

28. 储备

本集团于报告期的储备金额及其变动乃

于财务报表的综合权益变动表内呈列。

合并储备

合并储备指为上市进行重组而产生的储

备。

股份溢价储备

股份溢价储备指实缴股本超出本公司作

为交换条件而发行之股份的面值。

股份支付储备金

与公司股份奖励计划相关的准备金，更

多详情载于财务报表附注27。

法定储备金

根据适用于外商独资公司的相关中国法

规，本集团旗下的若干实体须依据中国

会计准则将一定比例（不少于10%，该比

例由该实体的董事会确定）的除税后溢利

分配至法定储备金（「法定储备金」），直

至有关储备达注册股本的50%为止。

法定储备金不可分派，惟出现清盘情况

及根据相关中国法规所载若干限制可用

作抵销累计亏损或拨充资本为已发行股

本除外。然而，于作出上述用途后，该

法定盈余储备金的结余须维持于不少于

股本的25%。

28. RESERVES

The amounts of the Group’s reserves and the movements

therein for the reporting period are presented in the consolidated

statement of changes in equity of the financial statements.

Merger reserve

The merger reserve represents those reserves arising from the

reorganisation for the purpose of listing.

Share premium reserve

The share premium reserve represents the exces of the paid-in

capital over the nominal value of the Company’s shares isued in

exchange therefor.

Share-based payment reserve

The share-based payment reserve comprises the fair value of

the share award scheme as previous explained in note 27 to the

financial statements.

Statutory reserve fund

In acordance with the relevant PRC regulations aplicable to

wholy-foreign-owned companies, certain entities within the Group

are required to alocate a certain portion (not les than 10%), as

determined by their boards of directors, of their profit after tax

in acordance with PRC GAP to the statutory reserve fund (the

“SRF”) until such reserve reaches 50% of the registered capital.

The SRF is non-distributable other than in the event of liquidation

and, subject to certain restrictions set out in the relevant PRC

regulations, can be used to ofset acumulated loses or be

capitalised as isued capital. However, the balance of the

statutory surplus reserve must be maintained at a minimum of

25% of the capital after such usages.

4,086
(2,629)
844
42
2,343

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

29. 综合现金流量表附注

(a) 主要非现金交易

在本年度内，本集团就楼宇租赁

安排确认非现金添置的使用权资

产及租赁负债分别为人民币844

千元及人民币844千元（二零二四

年：人民币3,946千元及人民币

3,946千元）。

(b) 融资活动产生的负债变动

截至二零二五年三月三十一日止

年度

截至二零二四年三月三十一日止

年度

29. NOTES TO THE CONSOLIDATED

STATEMENT OF CASH FLOWS

(a) Major non-cash transactions

During the year, the Group had non-cash aditions to

right-of-use asets and lease liabilities of RMB844,000

and RMB844,000, respectively, in respect of lease

arangements for buildings (2024: RMB3,946,000 and

RMB3,946,000).

(b) Changes in liabilities arising from financing

activities

For the year ended 31 March 2025

Lease liabilities

租赁负债

RMB’000

人民币千元

At 1 April 2024于二零二四年四月一日

Changes from financing cash flows筹资活动中现金流量的变动

New leases新租赁

Interest expense利息开支

At 31 March 2025于二零二五年三月三十一日

For the year ended 31 March 2024

Lease liabilities

租赁负债

RMB’000

人民币千元

At 1 April 2023于二零二三年四月一日3,158

Changes from financing cash flows筹资活动中现金流量的变动(3,101)

New leases新租赁3,946

Interest expense利息开支83

At 31 March 2024于二零二四年三月三十一日4,086

4,269
2,629
6,898

5,511
4,750
10,261

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

（续）

包含于现金流量表之租赁的总现

金流出如下：

30. 资本承担

本集团于报告期末的资本承担如下：

29. NOTES TO THE CONSOLIDATED

STATEMENT OF CASH FLOWS

(Continued)

The total cash outflow for leases included in the statement

of cash flows is as folows:

Year ended 31 March

截至三月三十一日止年

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Within operating activities经营活动内3,351

Within financing activities筹资活动内3,101

Total总计6,452

30. COMITMENTS

The Group had the folowing capital comitments at the end of

the reporting period:

As at 31 March

于三月三十一日

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Contracted, but not provided for:已订约但未拨备：

Property, plant and equipment 物业、厂房及设备21,307

Capital contribution in equity investment

designated at fair value through

other comprehensive income

指定为以公允价值计量且

其变动计入其他综合

收益的股权投资5,725

Total总计27,032

436,563
15,577
452,140
106,616
–
185,937
2,745

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

31. 关联方交易

(a) 名称及关系

(b) 除财务报表其他部分所披露的

交易及结余外，于本年度，本

集团与关联方进行如下重大交

易：

附注：

(i) 向关联方销售及采购以及向关联方

支付许可费及服务费乃参考当时市

价后按照共同商定的价格进行。

31. RELATED PARTY TRANSACTIONS

(a) Name and relationship

Name of related partyRelationship with the Group

关联方名称与本集团的关系

Tsugami CorporationThe Controling Shareholder

株式会社ツガミ控股东

Tsugami Korea Co., Ltd.Company controled by the Controling Shareholder

Tsugami Korea Co., Ltd.控股东控制的公司

(b) Apart from the transactions and balances

disclosed elsewhere in the financial statements,

the Group had the folowing material

transactions with related parties during the

year:

As at 31 March

截至三月三十一日止年度

二零二五年二零二四年

NoteRMB’000RMB’000

附注人民币千元人民币千元

Sales of gods to向下列关联方销售货品

Tsugami Corporation (note 4) 株式会社ツガミ（附注4）(i)441,027

Tsugami Korea Co., Ltd. Tsugami Korea Co., Ltd.(i)31,657

Total总计472,684

Purchases of materials from向下列关联方购买材料

Tsugami Corporation 株式会社ツガミ(i)130,858

Purchases of property, plant and

equipment from

向下列关联方购买物业、

厂房及设备

Tsugami Corporation 株式会社ツガミ(i)–

Licence fe to向下列关联方支付许可费

Tsugami Corporation 株式会社ツガミ(i)142,506

Service fe to向下列关联方支付服务费

Tsugami Corporation 株式会社ツガミ(i)4,687

Note:

(i) The sales to and purchases from related parties were made

and the licence fe and service fe were paid to related parties

acording to the prices mutualy agred after taking into acount

the prevailing market prices.

40,184
2,351
46,275

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

（续）

附注：

(i) 应收贸易款项中的应收关联方款项

属贸易性质、无抵押、免息及须于

90日内偿还。

(i) 应付贸易款项中的应付关联方款项

属贸易性质、无抵押、免息及须偿

还。未偿还结余须于90日内偿还。

31. RELATED PARTY TRANSACTIONS

(Continued)

As at 31 March

截至三月三十一日止年度

二零二五年二零二四年

NoteRMB’000RMB’000

附注人民币千元人民币千元

Amount due from the Controling

Shareholder

应收控股东款项

Tsugami Corporation 株式会社ツガミ

Trade receivables 应收贸易款项(i)79,970

Amount due from a company

controled by the Controling

Shareholder

应收控股东控制的

公司款项

Tsugami Korea Co., Ltd. Tsugami Korea Co., Ltd.

Trade receivables 应收贸易款项(i)9,057

Amounts due to the Controling

Shareholder

应付控股东款项

Tsugami Corporation 株式会社ツガミ

Trade payables 应付贸易款项(i)36,101

Notes:

(i) The amounts due from related parties in the trade receivables were

trade in nature, unsecured, interest-fre and repayable within 90

days.

(i) The amounts due to related parties in trade payables were trade

in nature, unsecured, interest-fre and repayable. The outstanding

balances were repayable within 90 days.

1,494
12,430
2,372
307
16,603

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

（续）

(d) 主要管理人员薪酬

有关董事酬金的进一步详情载于

财务报表附注8。

(e) 关连交易

上文附注31(b)(i)条披露之交易亦

构成上市规则第14章A所定义之持

续关连交易。

31. RELATED PARTY TRANSACTIONS

(Continued)

(d) Compensation of key management personel

As at 31 March

截至三月三十一日止年度

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Other emoluments:其他酬金：

Fes袍金1,589

Salaries, alowances and benefits in kind薪金、津贴及实物利益11,772

Equity-setled share-based payment expense股份支付费用109

Pension scheme contributions养老金计划缴款440

Total总计13,910

Further details of directors’ emoluments are included in

note 8 to the financial statements.

(e) Conected transactions

The transactions disclosed in note 31(b)(i) above also

constitute continuing conected transactions as defined in

Chapter 14A of the Listing Rules.

–	4,750	–	4,750
572,368	–	994,323	1,566,691
–	–	4,782	4,782
–	–	1,081,652	1,081,652
572,368	4,750	2,080,757	2,657,875

610,517
58,090
2,343
670,950

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

32. 按类别划分的金融工具

于报告期末各类别金融工具的账面价值

如下：

金融资产

金融负债

32. FINANCIAL INSTRUMENTS BY

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

（续）

于报告期末各类别金融工具的账面价值

如下：（续）

金融资产

金融负债

32. FINANCIAL INSTRUMENTS BY

CATEGORY (Continued)

The carying amounts of each of the categories of financial

instruments as at the end of the reporting period are as folows:

(Continued)

Financial asets

Financial asets at

fair value through other

comprehensive income

按公允价值计量且其变动计入其他

综合收益的金融资产

Debt

instruments

Equity

investments

Financial

asets at

amortised costTotal

债务工具股权投资

按摊余成本

列账之

金融资产总计

RMB’000RMB’000RMB’000RMB’000

人民币千元人民币千元人民币千元人民币千元

Equity investments designated at fair

value through other comprehensive

income

指定为以公允价值计量且其

变动计入其他综合收益的

股权投资–3,775–3,775

Trade and notes receivables应收贸易款项及票据276,491–705,046981,537

Financial asets included in

prepayments, other receivables

and other asets

计入预付款项、其他应收款项

及其他资产的金融资产

–4,7394,739

Cash and bank balances现金及银行结余–1,111,0631,111,063

Total总计276,4913,7751,820,8482,101,114

Financial liabilities

Financial

liabilities at

amortised cost

按摊余成本列账之

金融负债

RMB’000

人民币千元

Trade and notes payables应付贸易款项及票据533,783

Financial liabilities included in other payables and

acruals (note 22)

计入其他应付款项及应计费用的金融负债

（附注22）45,982

Lease liabilities租赁负债4,086

Total总计583,851

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

33. FAIR VALUE AND FAIR VALUE

HIERARCHY OF FINANCIAL

INSTRUMENTS

Management has asesed that the fair values of cash and bank

balances, trade and note receivables, trade and notes payables,

financial asets included in prepayments, other receivables and

other asets and financial liabilities included in other payables and

acruals and lease liabilities aproximate to their carying amounts

largely due to the short-term maturities of these instruments.

The Group’s finance department headed by the finance manager

is responsible for determining the policies and procedures for

the fair value measurement of financial instruments. The finance

manager reports directly to the chief financial oficer and the

audit comite. At each reporting date, the finance department

analyses the movements in the values of financial instruments

and determines the major inputs aplied in the valuation. The

valuation is reviewed and aproved by the chief financial oficer.

The valuation proces and results are discused with the audit

comite twice a year for interim and anual financial reporting.

The fair values of the financial asets and liabilities are included

at the amount at which the instrument could be exchanged in a

curent transaction betwen wiling parties, other than in a forced

or liquidation sale. The folowing methods and asumptions were

used to estimate the fair values:

Notes receivable held both to colect cash flows and to sel in

financial asets at fair value through other comprehensive income

are measured using the discounted cash flow method.

The fair values of unlisted equity investments designated at fair

value through other comprehensive income have ben estimated

using an asets-based valuation technique based on asumptions

that are not suported by observable market prices or rates. The

fair value measurement of these financial instruments may involve

unobservable inputs. Fair value change resulting from changes in

the unobservable inputs was not significant.

33. 金融工具公允价值及公允价

值层次

管理层评价其现金及银行结余、应收贸

易款项、应付贸易款项及票据、预付款

项、其他应收款以及其他资产中包含的

金融资产、其他应付款项及中包含的金

融负债及租赁负债的公允价值与其账面

价值相若，主要由于该等金融工具的到

期日较短。

本集团的财务部门由财务经理领导，负

责就金融工具的公允价值计量制定政策

及程序。财务经理直接向财务总监及审

核委员会汇报。于各报告日期，财务部

门分析金融工具价值变动及厘定应用于

估值的主要输入数据。该估值由财务总

监审阅及批准。中期和年度财务报告的

评估过程和结果会每年与审计委员讨论

两次。

金融资产及负债的公允价值按当前交易

中（强迫或清盘出售除外）双方自愿交换

的工具之金额入账。用于估计公允价值

的方法及假设如下：

持有目的为回收现金流以及出售的应收

票据计入按公允价值计量且其变动计入

其他综合收益的金融资产，采用折现

金流量法计量。

指定为以公允价值计量且其变动计其他

综合收益的股权投资的公允价值已使用

基于资产的估值技术进行估计，该估值

技术基于没有可观察市场价格或利率支

援的假设。这些金融工具的公允价值计

量可能涉及不可观察的输入值。不可观

察输入值的变化导致的公允价值变化并

不显著。

–	–	4,750	4,750
–	572,368	–	572,368
–	572,368	4,750	577,118

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

33. 金融工具公允价值及公允价

值层次（续）

公允价值层次

下表载列集团财务工具公允价值层次：

以公允价值计量之金融资产

于二零二五年三月三十一日

33. FAIR VALUE AND FAIR VALUE

HIERARCHY OF FINANCIAL

INSTRUMENTS (Continued)

Fair value hierarchy

The folowing tables ilustrate the fair value measurement hierarchy

of the Group’s financial instruments:

Asets measured at fair value:

As at 31 March 2025

Fair value measurement using

公允价值计量

Quoted prices

in active

markets

(Level 1)

Significant

observable

inputs

(Level 2)

Significant

unobservable

inputs

(Level 3)Total

于活跃市场的

报价

（第一层级）

重大可观察

的输入数据

（第二层级）

重大不可观察

的输入数据

（第三层级）总计

RMB’000RMB’000RMB’000RMB’000

人民币千元人民币千元人民币千元人民币千元

Equity investments designated

at fair value through other

comprehensive income

指定为以公允价值计量

且其变动计入其他综

合收益的股权投资

Notes receivable应收票据

Total总计

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

33. FAIR VALUE AND FAIR VALUE

HIERARCHY OF FINANCIAL

INSTRUMENTS (Continued)

Fair value hierarchy (Continued)

The folowing tables ilustrate the fair value measurement hierarchy

of the Group’s financial instruments: (Continued)

Asets measured at fair value: (Continued)

As at 31 March 2024

Fair value measurement using

公允价值计量

Quoted prices

in active

markets

(Level 1)

Significant

observable

inputs

(Level 2)

Significant

unobservable

inputs

(Level 3)Total

于活跃市场的

报价

（第一层级）

重大可观察

的输入数据

（第二层级）

重大不可观察

的输入数据

（第三层级）总计

RMB’000RMB’000RMB’000RMB’000

人民币千元人民币千元人民币千元人民币千元

Equity investments designated

at fair value through other

comprehensive income

指定为以公允价值计量

且其变动计入其他综

合收益的股权投资–3,7753,775

Notes receivable应收票据–276,491–276,491

Total总计–276,4913,775280,266

The Group did not have any financial liabilities measured at fair

value as at 31 March 2025 and 2024.

During the year, there were no transfers of fair value

measurements betwen Level 1 and Level 2 and no transfers into

or out of Level 3 for both financial asets and financial liabilities

(2024: Nil).

33. 金融工具公允价值及公允价

值层次（续）

公允价值层次（续）

下表载列集团财务工具公允价值层次：

（续）

以公允价值计量之金融资产（续）

于二零二四年三月三十一日

于二零二四年三月三十一日及二零二五

年三月三十一日，本集团无任何按公允

价值计量的金融负债。

本年第一层级和第二层级之间没有公允

价值计量的转移，对金融资产和金融负

债来说也没有转入或转出第三层级的情

况（二零二四年：无）。

(5%)	1,345
5%	(1,345)
(5%)	618
5%	(618)
(5%)	2,635
5%	(2,635)

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

34. 金融风险管理目标及政策

本集团的主要金融工具包括现金及银行

结余。该等金融工具的主要目的乃为本

集团的业务筹集资金。本集团拥有多种

其他金融资产及负债，如营运直接产生

的应收贸易款项及票据以及应付贸易款

项及票据。这些金融资产和负债直接来

自本集团的经营活动。

本集团的金融工具产生的主要风险为外

汇风险、流动资金风险及信贷风险。董

事会已审阅并同意管理各项该等风险的

政策，概述如下。

外汇风险

本集团面临交易货币风险。该等风险主

要源自经营单位以功能货币以外的货币

进行买卖。

下表说明于二零二五年及二零二四年三

月三十一日在所有其他变量保持不变的

情况下，本集团的除税前溢利对日圆、

美元及港元汇率合理可能变动的敏感度。

34. FINANCIAL RISK MANAGEMENT

OBJECTIVES AND POLICIES

The Group’s principal financial instruments comprise cash and

bank balances. The main purpose of these financial instruments

is to raise finance for the Group’s operations. The Group has

various other financial asets and liabilities such as trade and

notes receivables, trade and notes payables, which arise directly

from its operations.

The main risks arising from the Group’s financial instruments are

foreign curency risk, liquidity risk and credit risk. The board of

directors reviews and agres policies for managing each of these

risks and they are sumarised below.

Foreign curency risk

The Group has transactional curency exposures. Such exposures

mainly arise from sales or purchases by operating units in

curencies other than the units’ functional curencies.

The folowing table demonstrates the sensitivity as at 31 March

2025 and 31 March 2024 to a reasonably posible change in the

JPY, US$ and HK$ exchange rates, with al other variables held

constant, of the Group’s profit before tax.

Increase/

(decrease)

in JPY/US$/

HK$ rate

Increase/

(decrease)

in profit

before tax

汇率变动

除税前溢利

增加╱（减少）

RMB’000

人民币千元

31 March 2025二零二五年三月三十一日

If RMB weakens against JPY若人民币对日元贬值

If RMB strengthens against JPY若人民币对日元升值

If RMB weakens against US$若人民币对美元贬值

If RMB strengthens against US$若人民币对美元升值

If RMB weakens against HK$若人民币对港元贬值

If RMB strengthens against HK$若人民币对港元升值

31 March 2024二零二四年三月三十一日

If RMB weakens against JPY若人民币对日元贬值(5%)949

If RMB strengthens against JPY若人民币对日元升值5%(949)

If RMB weakens against US$若人民币对美元贬值(5%)(180)

If RMB strengthens against US$若人民币对美元升值5%180

If RMB weakens against HK$若人民币对港元贬值(5%)168

If RMB strengthens against HK$若人民币对港元升值5%(168)

–	–	–	224,032	224,032
–	–	–	1,349,782	1,349,782
4,788	–	–	–	4,788
1,081,652	–	–	–	1,081,652
1,086,440	–	–	1,573,814	2,660,254

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

34. FINANCIAL RISK MANAGEMENT

OBJECTIVES AND POLICIES (Continued)

Credit risk

The Group trades only with related parties and recognised

and creditworthy third parties. It is the Group’s policy that al

customers who wish to trade on credit terms are subject to

credit verification procedures. In adition, receivable balances are

monitored on an ongoing basis and the Group’s exposure to bad

debts is not significant.

Maximum exposure and year-end staging

The table below shows the credit quality and the maximum

exposure to credit risk based on the Group’s credit policy, which

is mainly based on past due information unles other information

is available without undue cost or efort, and year-end staging

clasification as at 31 March.

The amounts presented are gros carying amounts for financial

asets.

As at 31 March 2025

12-month

ECLsLifetime ECLs

12个月预期

信贷亏损存续期预期信贷亏损

Stage 1Stage 2Stage 3

Simplified

aproachTotal

阶段1阶段2阶段3简化方法总计

RMB’000RMB’000RMB’000RMB’000RMB’000

人民币千元人民币千元人民币千元人民币千元人民币千元

Trade receivables应收贸易款项

Notes receivable应收票据

Financial asets included

in prepayments, other

receivables and other

asets

计入预付款项、其他应

收款项及其他资产的

金融资产

– Normal－正常

Cash and bank balances现金及银行结余

– Not yet past due－未逾期

Total总计

34. 金融风险管理目标及政策

（续）

信贷风险

本集团仅与关联方及获公认兼信誉良好

的第三方进行交易。本集团的政策为所

有拟按信贷条款进行交易的客户均须通

过信贷审核程序。此外，本集团持续监

测应收结余情况且本集团面临的坏账风

险并不重大。

最高风险敞口及年终阶段

下表显示基于本集团信贷政策的信贷质

素及最高信贷风险，该信贷政策主要基

于过往逾期资料（除非无需额外成本或努

力即可获得其他资料）及于三月三十一日

的年终阶段分类作出。

呈列金额为金融资产的账面总值。

于二零二五年三月三十一日

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

34. 金融风险管理目标及政策

（续）

信贷风险（续）

最高风险敞口及年终阶段（续）

于二零二四年三月三十一日

* 就本集团应用简化减值方法的应收贸易款项

及票据而言，基于拨备矩阵的资料披露于财

务报表附注18。

计入预付款项、其他应收款项及其他资产的

金融资产尚未逾期，且并无资料显示金融资

产的信贷风险自初始确认以来显著增加，此

时信贷质量被视为「正常」。否则金融资产的

信贷质量被视为「可疑」。

有关本集团应收贸易款项及应收票据产

生的信贷风险敞口的进一步量化数据于

财务报表附注18中披露。

信贷集中风险按客户进行管理。于各报

告期末，本集团有若干信贷集中风险的

情况，于二零二五年三月三十一日，本

集团的应收贸易款项有29.10%（二零二

四年三月三十一日：76.46%）来自应收

本集团控股东及其最大的第三方客户

的款项。

34. FINANCIAL RISK MANAGEMENT

OBJECTIVES AND POLICIES (Continued)

Credit risk (Continued)

Maximum exposure and year-end staging (Continued)

As at 31 March 2024

12-month

ECLsLifetime ECLs

12个月预期

信贷亏损存续期预期信贷亏损

Stage 1Stage 2Stage 3

Simplified

aproachTotal

阶段1阶段2阶段3简化方法总计

RMB’000RMB’000RMB’000RMB’000RMB’000

人民币千元人民币千元人民币千元人民币千元人民币千元

Trade receivables应收贸易款项–111,688111,688

Notes receivable应收票据–871,290871,290

Financial asets included

in prepayments, other

receivables and other

asets

计入预付款项、其他应

收款项及其他资产的

金融资产

– Normal－正常4,744–4,744

Cash and bank balances现金及银行结余

– Not yet past due－未逾期1,111,063–1,111,063

Total总计1,115,807–982,9782,098,785

* For trade receivables to which the Group aplies the simplified aproach for

impairment, information based on the provision matrix is disclosed in note

18 to the financial statements.

The credit quality of the financial asets included in prepayments, other

receivables and other asets is considered to be “normal” when they are

not past due and there is no information indicating that the financial asets

had a significant increase in credit risk since initial recognition. Otherwise,

the credit quality of the financial asets is considered to be “doubtful”.

Further quantitative data in respect of the Group’s exposure to

credit risk arising from trade and notes receivables are disclosed

in note 18 to the financial statements.

Concentrations of credit risk are managed by customer.

At the end of each reporting period, the Group had certain

concentrations of credit risk as 29.10% of the Group’s trade

receivables were due from the Group’s Controling Shareholder

and the largest third-party customer as at 31 March 2025 (31

March 2024: 76.46%).

610,517	–	–	610,517
1,345	626	394	2,365
58,090	–	–	58,090
669,952	626	394	670,972

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

34. FINANCIAL RISK MANAGEMENT

OBJECTIVES AND POLICIES (Continued)

Liquidity risk

The Group monitors its risk to a shortage of funds using a

recuring liquidity planing tol. This tol considers the maturity

of both its financial instruments and financial asets (e.g., trade

receivables) and projected cash flows from operations.

The Group’s policy is to maintain suficient cash and cash

equivalents or have available funding through an adequate amount

of comited facilities from banks to met its comitments over

the foreseable future in acordance with its strategic plan.

The maturity profile of the Group’s financial liabilities as at the end

of the reporting period, based on the contractual undiscounted

payments, is as folows:

As at 31 March 2025

二零二五年三月三十一日

Within 1 years1 to 2 years2 to 5 yearsTotal

1年内1至2年内2至5年内总计

RMB’000RMB’000RMB’000RMB’000

人民币千元人民币千元人民币千元人民币千元

Trade and notes payables应付贸易款项及票据

Lease liabilities租赁负债

Financial liabilities included in other

payables and acruals

计入其他应付款项及应计费用的

金融负债

Total总计

As at 31 March 2024

二零二四年三月三十一日

Within 1 years1 to 2 years2 to 5 yearsTotal

1年内1至2年内2至5年内总计

RMB’000RMB’000RMB’000RMB’000

人民币千元人民币千元人民币千元人民币千元

Trade and notes payables应付贸易款项及票据533,783–533,783

Lease liabilities租赁负债2,2121,0938334,138

Financial liabilities included in other

payables and acruals

计入其他应付款项及应计费用的

金融负债45,982–45,982

Total总计581,9771,093833583,903

34. 金融风险管理目标及政策

（续）

流动资金风险

本集团使用循环流动资金计划工具监控

其资金短缺风险。该工具考虑其金融工

具及金融资产（如贸易应收款项）的到期

情况以及经营活动所产生的预计现金流

量。

本集团的政策为维持充足的现金及现金

等价物，或透过银行提供充足的承诺信

贷金额而获取可动用资金，以应付其策

略计划所定于可见将来之承担。

本集团于报告期末根据合约未折现付款

的金融负债到期情况如下：

2,343
2,343
3,134,162
0.07%

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

34. 金融风险管理目标及政策

（续）

资本管理

本集团进行资本管理的主要目标，是确

保本集团有能力持续经营及保持资本比

率稳健，以支持其业务及使股东价值最

大化。

本集团管理其资本架构，并就经济情况

变动和标的资产的风险特征对其作出调

整。为维持或调整资本架构，本集团可

调整向股东派付的股息、向股东退还资

本或发行新股份。本集团无须遵守任何

外部施加的资本规定。于截至二零二五

年三月三十一日及二零二四年三月三十

一日止年度，管理资本的目标、政策或

程序并无出现变动。

本集团以杠杆比率监控资本，该比率按

照总债务除以总资本计算得出。本集团

的总债务包括计租赁负债，资本为母公

司拥有人应占权益。

于报告期末的杠杆比率如下：

34. FINANCIAL RISK MANAGEMENT

OBJECTIVES AND POLICIES (Continued)

Capital management

The primary objectives of the Group’s capital management are to

safeguard the Group’s ability to continue as a going concern and

to maintain healthy capital ratios in order to suport its busines

and maximise shareholders’ value.

The Group manages its capital structure and makes adjustments

to it in light of changes in economic conditions and the risk

characteristics of the underlying asets. To maintain or adjust the

capital structure, the Group may adjust the dividend payment to

shareholders, return capital to shareholders or isue new shares.

The Group is not subject to any externaly imposed capital

requirements. No changes were made in the objectives, policies

or proceses for managing capital during the years ended 31

March 2025 and 31 March 2024.

The Group monitors capital using gearing ratio, which is total debt

divided by capital. Total debt includes lease liabilities. Capital

includes equity atributable to owners of the parent.

The gearing ratios at the end of the reporting periods were as

folows:

As at 31 March

于三月三十一日

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

Lease liabilities租赁负债4,086

Total debt总债务4,086

Equity atributable to owners of the parent母公司拥有人应占权益2,701,589

Gearing ratio杠杆比率0.15%

568,548
568,548
374,280
50,225
424,505
10,856
10,856
413,649
982,197
982,197
319,626
(87,058)
749,629
982,197

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

35. EVENTS AFTER THE REPORTING PERIOD

(a) On 25 June 2025, the board of the directors proposed a

final dividend for the year ended 31 March 2025, details of

which are set out in note 11.

36. STATEMENT OF FINANCIAL POSITION

OF THE COMPANY

Information about the statement of financial position of the

Company at the end of the reporting period is as folows:

As at 31 March

于三月三十一日

二零二五年二零二四年

RMB’000RMB’000

人民币千元人民币千元

NON-CURENT ASETS非流动资产

Investment in a subsidiary于附属公司的投资561,799

Total non-curent asets非流动资产合计561,799

CURENT ASETS流动资产

Prepayments, other receivables and

other asets

预付款项、其他应收款项及

其他资产281,600

Cash and cash equivalents现金及现金等价物3,495

Total curent asets流动资产总额285,095

CURENT LIABILITIES流动负债

Other payables and acruals其他应付款项及应计费用10,749

Total curent liabilities流动负债总额10,749

NET CURENT ASETS流动资产净值274,346

TOTAL ASETS LES CURENT

LIABILITIES

总资产减流动负债

836,145

Net asets资产净值836,145

EQUITY权益

Equity atributable to owners of the parent母公司拥有人应占权益

Isued capital已发行股本319,836

Treasury shares库存股(27,431)

Reserves (note)储备（附注）543,740

Total equity权益总额836,145

35. 报告期后事项

(a) 于二零二五年六月二十五日，董

事会宣派截至二零二五年三月三

十一日止年度的末期股息，详情

载于附注11。

36. 本公司的财务状况表

有关本公司于报告期末的财务状况表资

料如下：

–	–	–	–	495,896	495,896
–	(61,736)	–	–	–	(61,736)
–	–	–	6,749	–	6,749
(210)	2,109	(1,899)	–	–	–
–	–	–	–	(294,857)	(294,857)
319,626	(87,058)	325,368	7,054	417,207	982,197

NOTES TO FINANCIAL STATEMENTS

财务报表附注

Year ended 31 March 2025 截至二零二五年三月三十一日止年度

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

（续）

附注：

本公司的权益概要如下：

37. 批准财务报表

财务报表已于二零二五年六月二十五日

获董事会批准及授权刊发。

36. STATEMENT OF FINANCIAL POSITION

OF THE COMPANY (Continued)

Note:

A sumary of the Company’s reserve is as folows:

Isued

capital

Treasury

premium

reserve

Share-

based

payment

reserve

Retained

profitsTotal

已发行股本库存股

股份溢价

储备

股份支付

储备保留溢利总计

RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000

人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元

Balance at 1 April 2023于二零二三年四月一日319,836–327,267–133,475780,578

Total comprehensive income

for the year

年内全面收益总额

–362,841362,841

Shares repurchased回购股份–(27,431)–(27,431)

Equity-setled share based payment权益结算股份支付–305–305

Dividend distribution股息分派–(280,148)(280,148)

At 31 March and 1 April 2024于二零二四年三月三十一日319,836(27,431)327,267305216,168836,145

Total comprehensive income

for the year

年内全面收益总额

Shares repurchased回购股份

Equity-setled share based payment权益结算股份支付

Ordinary shares canceled注销库存股

Dividend distribution股息分派

At 31 March 2025于二零二五年三月三十一日

37. APROVAL OF THE FINANCIAL

STATEMENTS

The financial statements were aproved and authorised for isue

by the board of directors on 25 June 2025.

4,261,557 (2,851,124)
1,410,433
80,384
(189,947)
(152,629)
(6,216)
(4,434)
(412)
1,137,179
(354,762)
782,417
782,417

4,254,486 (1,120,324)
3,134,162

FIVE-YEAR FINANCIAL SUMARY

五年财务概要

ANUAL REPORT 2024-2025 年度报告

PRECISION TSUGAMI (CHINA) CORPORATION LIMITED 津上精密机床（中国）有限公司

A sumary of the results and of the asets and liabilities of the Group

for the last five financial years, as extracted from the published audited

financial statements, is set out below.

RESULTS

Year ended 31 March

截至三月三十一日止年度

二零二五年二零二四年二零二三年二零二年二零二一年

RMB’000RMB’000RMB’000RMB’000RMB’000

人民币千元人民币千元人民币千元人民币千元人民币千元

REVENUE

Cost of sales

收入

销售成本

3,119,674

(2,224,135)

4,046,902

(3,010,781)

4,419,887

(3,246,858)

3,116,976

(2,351,669)

GROS PROFIT毛利895,5391,036,1211,173,029765,307

Other income and gains其他收入及收益85,26868,357180,33437,785

Seling and distribution expenses销售及分销开支(155,851)(148,343)(162,723)(126,931)

Administrative expenses行政开支(113,856)(105,559)(95,918)(93,813)

Impairment loses on financial

asets, net

金融资产减值

损失净额2,3402,587(898)(8,795)

Other expenses其他开支(9,713)(11,470)(117,849)(2,305)

Finance costs融资成本(993)(674)(2,141)(990)

PROFIT BEFORE TAX除税前溢利702,734841,019973,834570,258

Income tax expense所得税开支(222,764)(261,831)(306,430)(178,306)

PROFIT AND TOTAL

COMPREHENSIVE

INCOME FOR THE YEAR

年内溢利及全面

收益总额

479,970579,188667,404391,952

ATRIBUTABLE TO:

Owners of the parent

以下人士应占：

母公司拥有人479,970579,188667,404391,952

CONSOLIDATED ASETS AND LIABILITIES

Year ended 31 March

截至三月三十一日止年度

二零二五年二零二四年二零二三年二零二年二零二一年

RMB’000RMB’000RMB’000RMB’000RMB’000

人民币千元人民币千元人民币千元人民币千元人民币千元

TOTAL ASETS

TOTAL LIABILITIES

资产总值

负债总额

3,632,235

(930,646)

3,509,365

(980,472)

3,513,071

(1,291,729)

2,708,955

(950,607)

TOTAL EQUITY权益总额2,701,5892,528,8932,221,3421,758,348

以下载列本集团过往五个财政年度的业绩和资产

及负债概要（摘录自已刊发的经审核财务报表）。

业绩

综合资产及负债

Anual Report年度报告

2024-2025

CONTENTS

目录

业绩摘要

公司资料

公司资料

主席报告

主席报告

主席报告

主席报告

管理层讨论及分析

管理层讨论及分析

管理层讨论及分析

管理层讨论及分析

管理层讨论及分析

管理层讨论及分析

管理层讨论及分析

Notes:

1. Average inventory turnover days are calculated based on the average balance of

2. Average turnover days of trade and notes receivables are calculated based on the

3. Average turnover days of trade and notes payables are calculated based on the

4. Curent ratio is calculated based on total curent asets divided by total curent

管理层讨论及分析

管理层讨论及分析

Review and the last year:

管理层讨论及分析

管理层讨论及分析

管理层讨论及分析

管理层讨论及分析

董事及高级管理层

董事及高级管理层

2025. He is primarily responsible for the overal management, strategic

董事及高级管理层

董事及高级管理层

2025. She is primarily responsible for advising the overseas busines.

董事及高级管理层

2025. He joined Tsugami Japan (the controling shareholder of the

2011. He has served as an Outside Director (Members of the Audit

董事及高级管理层

2023. He was the lecturer at the Schol of Medicine of Toho University

2024. Since April 2025, Dr. Iwabuchi served as a dean of the Yokohama

董事及高级管理层

2016. He was apointed as the chairman of audit comite and the

2022. From September 1997 to March 2007, Mr. Tam worked in Ernst

董事及高级管理层

董事及高级管理层

企业管治报告

企业管治报告

企业管治报告

企业管治报告

Board have ben and are:

企业管治报告

企业管治报告

企业管治报告

企业管治报告

企业管治报告

Note:

1. Resigned on 25 June 2025

企业管治报告

企业管治报告

企业管治报告

企业管治报告

企业管治报告

2024. The Nomination Comite has also reviewed the structure,

企业管治报告

企业管治报告

企业管治报告

企业管治报告

企业管治报告

企业管治报告

企业管治报告

Directors:

Year are as folows:

Notes:

1. Dr. Tang Donglei ceased to be a member of the Remuneration Comite from 25

2. Mr. Takao Nishijima ceased to be a member of the Nomination Comite from 25

3. Mr. Kenji Yoneyama ceased to be a member of the Board and the Audit Comite

企业管治报告

Note: Other non-audit services represented review services, which include: