Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to HK$63.45, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 9x in the Machinery industry in Hong Kong. Total returns to shareholders of 894% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$104 per share. Announcement • Jun 17
Precision Tsugami (China) Corporation Limited to Report Fiscal Year 2026 Final Results on Jun 29, 2026 Precision Tsugami (China) Corporation Limited announced that they will report fiscal year 2026 final results on Jun 29, 2026 New Risk • May 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to HK$54.90, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 10x in the Machinery industry in Hong Kong. Total returns to shareholders of 784% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$99.91 per share. Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to HK$43.44, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 10x in the Machinery industry in Hong Kong. Total returns to shareholders of 548% over the past three years. Upcoming Dividend • Nov 30
Upcoming dividend of HK$0.60 per share Eligible shareholders must have bought the stock before 04 December 2025. Payment date: 13 January 2026. Payout ratio is a comfortable 41% but the company is paying out more than the cash it is generating. Trailing yield: 3.8%. Lower than top quartile of Hong Kong dividend payers (6.8%). Higher than average of industry peers (3.4%). Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to HK$30.36, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 10x in the Machinery industry in Hong Kong. Total returns to shareholders of 434% over the past three years. Reported Earnings • Nov 19
First half 2026 earnings released: EPS: CN¥1.36 (vs CN¥0.90 in 1H 2025) First half 2026 results: EPS: CN¥1.36 (up from CN¥0.90 in 1H 2025). Revenue: CN¥2.50b (up 26% from 1H 2025). Net income: CN¥502.3m (up 48% from 1H 2025). Profit margin: 20% (up from 17% in 1H 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Machinery industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 63% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Nov 15
First half dividend of HK$0.60 announced Shareholders will receive a dividend of HK$0.60. Ex-date: 4th December 2025 Payment date: 13th January 2026 Dividend yield will be 3.0%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is covered by earnings (19% earnings payout ratio) but not covered by cash flows (110% cash payout ratio). The dividend has increased by an average of 31% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 116% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 03
Precision Tsugami (China) Corporation Limited to Report First Half, 2026 Results on Nov 13, 2025 Precision Tsugami (China) Corporation Limited announced that they will report first half, 2026 results on Nov 13, 2025 Major Estimate Revision • Oct 22
Consensus revenue estimates increase by 15% The consensus outlook for revenues in fiscal year 2026 has improved. 2026 revenue forecast increased from CN¥5.12b to CN¥5.89b. EPS estimate increased from CN¥2.89 to CN¥3.09 per share. Net income forecast to grow 38% next year vs 18% growth forecast for Machinery industry in Hong Kong. Consensus price target up from HK$30.68 to HK$39.65. Share price rose 15% to HK$35.70 over the past week. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$34.84, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 9x in the Machinery industry in Hong Kong. Total returns to shareholders of 539% over the past three years. Announcement • Oct 20
Precision Tsugami (China) Corporation Limited Provides Consolidated Earnings Guidance for the Six Months Ended September 30, 2025 Precision Tsugami (China) Corporation Limited provided consolidated earnings guidance for the six months ended September 30, 2025. Based on the preliminary assessment of the consolidated management accounts of the Group for the six months ended 30 September 2025 and the information currently available, the Group is expected to record a profit attributable to the owners of the Company of approximately RMB 502 million for the six months ended 30 September 2025, representing an increase of approximately 48% as compared to the profit attributable to the owners of the Company of approximately RMB 340 million (unaudited) for the six months ended 30 September 2024. Based on the information currently available, the Board believes that the Group's growth in results has benefited from the sustained recovery of the domestic economy. The transformation and upgrade of China's manufacturing industry, particularly the rapid development of user sectors such as new energy vehicles and artificial intelligence, have generated new demand for the machine tool industry. This, coupled with the Company's continuous expansion and penetration into various sub-sectors of the manufacturing industry in recent years, has led to an increased demand for the CNC high precision machine tools produced by the Group. At the same time, the Group's ongoing efforts in cost reduction, efficiency improvement, and operational optimization have significantly enhanced product competitiveness and substantially improved the Company's profitability. Announcement • Aug 18
Precision Tsugami (China) Corporation Limited Approves Final Dividend for the Year Ended 31 March 2025 At the annual general meeting (the "AGM") of Precision Tsugami (China) Corporation Limited held on 18 August 2025, the shareholders approved the final dividend of HKD 0.50 per share for the year ended 31 March 2025. Upcoming Dividend • Aug 14
Upcoming dividend of HK$0.50 per share Eligible shareholders must have bought the stock before 21 August 2025. Payment date: 12 September 2025. Payout ratio is a comfortable 43% but the company is paying out more than the cash it is generating. Trailing yield: 4.1%. Lower than top quartile of Hong Kong dividend payers (6.7%). Higher than average of industry peers (3.5%). Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to HK$25.30, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 9x in the Machinery industry in Hong Kong. Total returns to shareholders of 256% over the past three years. Announcement • Jul 30
Precision Tsugami (China) Corporation Limited to Report Q1, 2026 Results on Jul 30, 2025 Precision Tsugami (China) Corporation Limited announced that they will report Q1, 2026 results at 12:00 PM, China Standard Time on Jul 30, 2025 Reported Earnings • Jul 26
Full year 2025 earnings: EPS in line with analyst expectations despite revenue beat Full year 2025 results: EPS: CN¥2.08 (up from CN¥1.26 in FY 2024). Revenue: CN¥4.26b (up 37% from FY 2024). Net income: CN¥782.4m (up 63% from FY 2024). Profit margin: 18% (up from 15% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Machinery industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to HK$23.50, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 9x in the Machinery industry in Hong Kong. Total returns to shareholders of 236% over the past three years. Declared Dividend • Jun 27
Final dividend of HK$0.50 announced Shareholders will receive a dividend of HK$0.50. Ex-date: 21st August 2025 Payment date: 12th September 2025 Dividend yield will be 4.6%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is covered by earnings (43% earnings payout ratio) but not covered by cash flows (111% cash payout ratio). The dividend has increased by an average of 31% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 67% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 26
Full year 2025 earnings: EPS in line with analyst expectations despite revenue beat Full year 2025 results: EPS: CN¥2.08 (up from CN¥1.26 in FY 2024). Revenue: CN¥4.26b (up 37% from FY 2024). Net income: CN¥782.4m (up 63% from FY 2024). Profit margin: 18% (up from 15% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Machinery industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 25
Precision Tsugami (China) Corporation Limited, Annual General Meeting, Aug 18, 2025 Precision Tsugami (China) Corporation Limited, Annual General Meeting, Aug 18, 2025. Announcement • Jun 13
Precision Tsugami (China) Corporation Limited to Report Fiscal Year 2025 Results on Jun 25, 2025 Precision Tsugami (China) Corporation Limited announced that they will report fiscal year 2025 results on Jun 25, 2025 Valuation Update With 7 Day Price Move • Apr 23
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to HK$22.25, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 8x in the Machinery industry in Hong Kong. Total returns to shareholders of 241% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$43.15 per share. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to HK$20.00, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 9x in the Machinery industry in Hong Kong. Total returns to shareholders of 202% over the past three years. New Risk • Mar 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (24% accrual ratio). Minor Risks Dividend is not well covered by cash flows (185% cash payout ratio). Share price has been volatile over the past 3 months (11% average weekly change). Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to HK$20.50, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 9x in the Machinery industry in Hong Kong. Total returns to shareholders of 193% over the past three years. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$14.56, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 8x in the Machinery industry in Hong Kong. Total returns to shareholders of 99% over the past three years. Reported Earnings • Dec 14
First half 2025 earnings released: EPS: CN¥0.90 (vs CN¥0.58 in 1H 2024) First half 2025 results: EPS: CN¥0.90 (up from CN¥0.58 in 1H 2024). Revenue: CN¥1.98b (up 32% from 1H 2024). Net income: CN¥340.0m (up 54% from 1H 2024). Profit margin: 17% (up from 15% in 1H 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Machinery industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Upcoming Dividend • Nov 29
Upcoming dividend of HK$0.45 per share Eligible shareholders must have bought the stock before 05 December 2024. Payment date: 13 January 2025. Payout ratio is a comfortable 49% and the cash payout ratio is 76%. Trailing yield: 7.3%. Lower than top quartile of Hong Kong dividend payers (8.0%). Higher than average of industry peers (3.9%). Declared Dividend • Nov 15
First half dividend of HK$0.45 announced Shareholders will receive a dividend of HK$0.45. Ex-date: 5th December 2024 Payment date: 13th January 2025 Dividend yield will be 7.3%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is covered by both earnings (23% earnings payout ratio) and cash flows (66% cash payout ratio). The dividend has increased by an average of 32% per year over the past 6 years and payments have been stable during that time. EPS is expected to grow by 75% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 13
Precision Tsugami (China) Corporation Limited Announces Interim Dividend for the Six Months Ended September 30, 2024, Payable on 13 January 2025 Precision Tsugami (China) Corporation Limited announced the interim dividend of HKD 0.45 per share for the six months ended September 30, 2024. Ex-dividend date is 05 December 2024. Record date is 12 December 2024. Payment date is 13 January 2025. Announcement • Nov 02
Precision Tsugami (China) Corporation Limited to Report First Half, 2025 Results on Nov 13, 2024 Precision Tsugami (China) Corporation Limited announced that they will report first half, 2025 results on Nov 13, 2024 Announcement • Oct 18
Precision Tsugami (China) Corporation Limited Provides Preliminary Unaudited Consolidated Group Earnings Guidance for the Six Months Ended 30 September 2024 Precision Tsugami (China) Corporation Limited provided preliminary unaudited consolidated group earnings guidance for the six months ended 30 September 2024. For the period, the group expects to record a profit attributable to the owners of the Company of approximately RMB 340 million for the six months ended 30 September 2024, representing an increase of approximately 54% as compared to the profit attributable to the owners of the Company of approximately RMB 221 million (unaudited) for the six months ended 30 September 2023. Based on the information currently available, the Board believes that the Group's growth in results has benefitted from the gradual recovery of the domestic economy, where the increased capital expenditure in the manufacturing industries in China, including automotive industry and general machining industry, led to an increase in demand for CNC high precision machine tools of the Group, and was also attributable to the Group's continuous efforts in optimising operations. In addition, the Board believes that the performance of the machine tool industry shows cyclical changes from time to time, and therefore, the above change in the Group's financial results aligns the Company's expectation. Announcement • Aug 19
Precision Tsugami (China) Corporation Limited Approves Final Dividend for the Year Ended 31 March 2024 At the annual general meeting of Precision Tsugami (China) Corporation Limited held on 19 August 2024 approved to declare a final dividend of HKD 0.40 per share for the year ended
31 March 2024. Upcoming Dividend • Aug 15
Upcoming dividend of HK$0.40 per share Eligible shareholders must have bought the stock before 22 August 2024. Payment date: 02 September 2024. Payout ratio is a comfortable 58% and this is well supported by cash flows. Trailing yield: 8.2%. Lower than top quartile of Hong Kong dividend payers (8.3%). Higher than average of industry peers (3.6%). Announcement • Jul 03
An undisclosed buyer acquired 5.90% stake in Precision Tsugami (China) Corporation Limited (SEHK:1651) from Tsugami Corporation (TSE:6101). An undisclosed buyer acquired 5.90% stake in Precision Tsugami (China) Corporation Limited (SEHK:1651) from Tsugami Corporation (TSE:6101) on July 2, 2024.An undisclosed buyer completed the acquisition of 5.90% stake in Precision Tsugami (China) Corporation Limited (SEHK:1651) from Tsugami Corporation (TSE:6101) on July 2, 2024. Declared Dividend • Jun 28
Final dividend of HK$0.40 announced Shareholders will receive a dividend of HK$0.40. Ex-date: 22nd August 2024 Payment date: 2nd September 2024 Dividend yield will be 7.5%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is covered by both earnings (42% earnings payout ratio) and cash flows (68% cash payout ratio). The dividend has increased by an average of 32% per year over the past 6 years and payments have been stable during that time. EPS is expected to grow by 41% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 27
Precision Tsugami (China) Corporation Limited, Annual General Meeting, Aug 19, 2024 Precision Tsugami (China) Corporation Limited, Annual General Meeting, Aug 19, 2024. Reported Earnings • Jun 27
Full year 2024 earnings released: EPS: CN¥1.26 (vs CN¥1.52 in FY 2023) Full year 2024 results: EPS: CN¥1.26 (down from CN¥1.52 in FY 2023). Revenue: CN¥3.12b (down 23% from FY 2023). Net income: CN¥480.0m (down 17% from FY 2023). Profit margin: 15% (up from 14% in FY 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Machinery industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 2% per year and the company’s share price has also fallen by 2% per year. Announcement • Jun 26
Precision Tsugami (China) Corporation Limited Proposes Final Dividend for the Year Ended 31 March 2024, Payable on 02 September 2024 Precision Tsugami (China) Corporation Limited proposed final dividend of HKD 0.4 per share for the year ended 31 March 2024. Ex-dividend date is 22 August 2024; Record date is 28 August 2024. Payment date is 02 September 2024. Date of shareholders' approval is 19 August 2024. Announcement • Jun 15
Precision Tsugami (China) Corporation Limited to Report Fiscal Year 2024 Results on Jun 26, 2024 Precision Tsugami (China) Corporation Limited announced that they will report fiscal year 2024 results on Jun 26, 2024 Reported Earnings • Dec 14
First half 2024 earnings released: EPS: CN¥0.58 (vs CN¥0.79 in 1H 2023) First half 2024 results: EPS: CN¥0.58 (down from CN¥0.79 in 1H 2023). Revenue: CN¥1.49b (down 32% from 1H 2023). Net income: CN¥221.3m (down 26% from 1H 2023). Profit margin: 15% (up from 14% in 1H 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Machinery industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Nov 29
Upcoming dividend of HK$0.40 per share at 9.9% yield Eligible shareholders must have bought the stock before 06 December 2023. Payment date: 12 January 2024. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 9.9%. Within top quartile of Hong Kong dividend payers (8.2%). Higher than average of industry peers (2.7%). Major Estimate Revision • Nov 17
Consensus revenue estimates fall by 19% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥3.74b to CN¥3.04b. EPS estimate fell from CN¥1.33 to CN¥1.17 per share. Net income forecast to shrink 2.6% next year vs 20% growth forecast for Machinery industry in Hong Kong . Consensus price target down from HK$11.44 to HK$10.23. Share price was steady at HK$8.10 over the past week. Reported Earnings • Nov 14
First half 2024 earnings released: EPS: CN¥0.58 (vs CN¥0.79 in 1H 2023) First half 2024 results: EPS: CN¥0.58 (down from CN¥0.79 in 1H 2023). Revenue: CN¥1.49b (down 32% from 1H 2023). Net income: CN¥221.3m (down 26% from 1H 2023). Profit margin: 15% (up from 14% in 1H 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Machinery industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Nov 11
Precision Tsugami (China) Corporation Limited Announces Interim Dividend for the Six Months Ended 30 September 2023, Payable on 12 January 2024 Precision Tsugami (China) Corporation Limited announced the interim dividend of HKD 0.4 per share for the six months ended 30 September 2023. Ex-dividend date is on 06 December 2023 with Record date is on 12 December 2023.Payment date on 12 January 2024. Announcement • Nov 01
Precision Tsugami (China) Corporation Limited to Report Q2, 2024 Results on Nov 10, 2023 Precision Tsugami (China) Corporation Limited announced that they will report Q2, 2024 results on Nov 10, 2023 Announcement • Oct 18
Precision Tsugami (China) Corporation Limited Provides Preliminary Unaudited Consolidated Group Earnings Guidance for the Six Months Ended 30 September 2023 Precision Tsugami (China) Corporation Limited provided preliminary unaudited consolidated group earnings guidance for the six months ended 30 September 2023. For the period, the group expects to record a profit attributable to the owners of the Company of approximately RMB 220 million, representing a decrease of approximately 27% as compared to the profit attributable to the owners of the Company of approximately RMB 300 million (unaudited) for the six months ended 30 September 2022. Based on the information currently available, the Board believes the deterioration in financial performance of the Group was mainly attributable to the decrease in demand for computerised numerical control high precision machine tools (the CNC high precision machine tools)manufactured by the Group because of various macroeconomic uncertainties, including intensified international geopolitical conflicts and domestic macroeconomic downturn. In addition, the Board believes the performance of the machine tools industry continued to experience fluctuating adjustments during cyclical changes, which contributed to the anticipated decrease of the profit attributable to the owners of the Company for the six months ended 30 September 2023, and was not uncontemplated by the Company. Announcement • Aug 19
Precision Tsugami (China) Corporation Limited Approves to Declare Final Dividend for the Year Ended March 31, 2023 Precision Tsugami (China) Corporation Limited approved to declare a final dividend of HKD 0.40 per share for the year ended March 31, 2023 at the Annual General Meeting held on August 18, 2023. Upcoming Dividend • Aug 15
Upcoming dividend of HK$0.40 per share at 9.3% yield Eligible shareholders must have bought the stock before 22 August 2023. Payment date: 15 September 2023. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 9.3%. Within top quartile of Hong Kong dividend payers (7.7%). Higher than average of industry peers (2.6%). Reported Earnings • Jun 29
Full year 2023 earnings released: EPS: CN¥1.52 (vs CN¥1.75 in FY 2022) Full year 2023 results: EPS: CN¥1.52 (down from CN¥1.75 in FY 2022). Revenue: CN¥4.05b (down 8.4% from FY 2022). Net income: CN¥579.2m (down 13% from FY 2022). Profit margin: 14% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Jun 16
Precision Tsugami (China) Corporation Limited to Report Fiscal Year 2023 Final Results on Jun 28, 2023 Precision Tsugami (China) Corporation Limited announced that they will report fiscal year 2023 final results on Jun 28, 2023 Buying Opportunity • Jun 15
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 1.2%. The fair value is estimated to be HK$10.33, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Earnings per share has grown by 46%. Revenue is forecast to grow by 7.1% in 2 years. Earnings is forecast to grow by 8.9% in the next 2 years. Announcement • May 12
Precision Tsugami (China) Corporation Limited to Report Fiscal Year 2023 Results on May 11, 2023 Precision Tsugami (China) Corporation Limited announced that they will report fiscal year 2023 results at 12:00 PM, China Standard Time on May 11, 2023 Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to HK$9.25, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 12x in the Machinery industry in Hong Kong. Total returns to shareholders of 55% over the past three years. Upcoming Dividend • Nov 25
Upcoming dividend of HK$0.40 per share Eligible shareholders must have bought the stock before 02 December 2022. Payment date: 09 January 2023. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 12%. Within top quartile of Hong Kong dividend payers (9.0%). Higher than average of industry peers (3.0%). Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 6 experienced directors. 1 highly experienced director. 3 independent directors (5 non-independent directors). Independent Non-Executive Director & Member of Supervisory Committee Kin Bor Tam was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 09
First half 2023 earnings released: EPS: CN¥0.79 (vs CN¥0.99 in 1H 2022) First half 2023 results: EPS: CN¥0.79 (down from CN¥0.99 in 1H 2022). Revenue: CN¥2.20b (down 7.2% from 1H 2022). Net income: CN¥300.7m (down 20% from 1H 2022). Profit margin: 14% (down from 16% in 1H 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Machinery industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Nov 09
Precision Tsugami (China) Corporation Limited Announces Ordinary Interim Dividend for the Six Months Ended September 30, 2022, Payable on January 9, 2023 Precision Tsugami (China) Corporation Limited announced ordinary interim dividend for the six months ended September 30, 2022. For the period, the company announced interim (semi annual) of HKD 0.4 per share. Ex-dividend date is December 2, 2022. Record date is December 8, 2022. The dividend will be payable on January 9, 2023. Announcement • Oct 30
Precision Tsugami (China) Corporation Limited to Report Q2, 2023 Results on Nov 08, 2022 Precision Tsugami (China) Corporation Limited announced that they will report Q2, 2023 results on Nov 08, 2022 Announcement • Oct 22
Precision Tsugami (China) Corporation Limited Provides Unaudited Consolidated Earnings Guidance for the Six Months Ended 30 September 2022 Precision Tsugami (China) Corporation Limited provided unaudited consolidated earnings guidance for the six months ended 30 September 2022. For the period, the company expected to record a profit attributable to the owners of the Company of approximately RMB 300 million for the six months ended 30 September 2022, representing a decrease of approximately 21% as compared to the profit attributable to the owners of the Company of approximately RMB 380 million (unaudited) for the six months ended 30 September 2021. Announcement • Aug 17
Precision Tsugami (China) Corporation Limited Approves Final Dividend for the Year Ended 31 March 2022 Precision Tsugami (China) Corporation Limited at its AGM held on August 16, 2022 approved final dividend of HKD 0.40 per share for the year ended 31 March 2022. Upcoming Dividend • Aug 11
Upcoming dividend of HK$0.40 per share Eligible shareholders must have bought the stock before 18 August 2022. Payment date: 02 September 2022. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 9.2%. Within top quartile of Hong Kong dividend payers (8.4%). Higher than average of industry peers (3.6%). Announcement • Jul 16
Precision Tsugami (China) Corporation Limited, Annual General Meeting, Aug 16, 2022 Precision Tsugami (China) Corporation Limited, Annual General Meeting, Aug 16, 2022, at 10:00 China Standard Time. Location: 24/F,Admiralty Centre 1, 18 Harcourt Road, Hong Kong Hong Kong Agenda: To receive and consider the audited consolidated financial statements and the reports of the directors and auditor of the Company for the year ended 31 March 2022; to declare a final dividend of HK$0.40 per share for the year ended 31 March 2022; to re-elect each of the following as directors of the Company by separate resolutions: Mr. Takao Nishijima as a non-executive director of the Company; Ms. Mami Matsushita as a non-executive director of the Company; Mr. Motoi Yamada as a non-executive director of the Company; Mr. Tam Kin Bor as an independent non-executive director of the Company; to authorise the board of directors of the Company to fix the remuneration of directors; and to consider other matters. Announcement • Jun 28
Precision Tsugami (China) Corporation Limited Proposes Final Dividend for the Year Ended 31 March 2022, Payable 02 September 2022 Precision Tsugami (China) Corporation Limited proposed Final dividend of HKD 0.4 per share for the year ended 31 March 2022. Ex-dividend date: 18 August 2022. Record date: 23 August 2022. Payment date: 02 September 2022. The proposed final dividend is subject to the approval by shareholders of the Company at the forthcoming annual general meeting. Reported Earnings • Jun 28
Full year 2022 earnings: EPS in line with analyst expectations despite revenue beat Full year 2022 results: EPS: CN¥1.75 (up from CN¥1.03 in FY 2021). Revenue: CN¥4.42b (up 42% from FY 2021). Net income: CN¥667.4m (up 70% from FY 2021). Profit margin: 15% (up from 13% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 8.2%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 9.4%, compared to a 12% growth forecast for the industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Jun 16
Precision Tsugami (China) Corporation Limited to Report Fiscal Year 2022 Final Results on Jun 27, 2022 Precision Tsugami (China) Corporation Limited announced that they will report fiscal year 2022 final results on Jun 27, 2022 Announcement • May 13
Precision Tsugami (China) Corporation Limited to Report Q4, 2022 Results on May 12, 2022 Precision Tsugami (China) Corporation Limited announced that they will report Q4, 2022 results at 12:00 PM, China Standard Time on May 12, 2022 Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director & Member of Supervisory Committee Kin Bor Tam was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. 
