CROSBY Research – Precision Tsugami (China) (1651 HK/ NEUTRAL): An even better FY25

25 April 2025

Precision Tsugami (China) (PTC) issued a positive profit alert citing that the company expects its FY25 (Yr-ended Mar) net profit to increase by approximately 60% YoY to Rmb782m compared to FY24 net profit of Rmb480m. This encouraging improvement in results was driven by the gradual recovery of the domestic market, where the company’s downstream customers such as automotive, pneumatic and hydraulic and general machining industry had increased their capital expenditure, leading to an increase in demand for CNC high precision machine tools during the period under review.