TCL科技：2026年第一季度报告(英文版)
StockCode:000100StockAbbr.:TCLTECH.AnnouncementNo.:2026-033
TCL科技集团股份有限公司
TCLTechnologyGroupCorporation
FirstQuarter2026Report
April2026
Content
SectionIImportantNoticesandDefinitions ...... 3
SectionIIKeyFinancialInformation ...... 5
SectionIIIManagementDiscussionandAnalysis ...... 7
SectionIVUseoftheCapitalRaised ...... 12
SectionVShareholderInformation ...... 13
SectionVIQuarterlyFinancialStatements ...... 16
SectionIImportantNoticesandDefinitions
TheBoardofDirectors(orthe"Board"),thedirectors,andseniormanagementofTCLTechnologyGroupCorporation(hereinafterreferredtoasthe"Company")herebyguaranteethatthisquarterlyreportisfactual,accurate,andcomplete,andshallbejointlyandseverallyliableforanymisrepresentations,misleadingstatements,ormaterialomissionstherein.
Mr.LiDongsheng,theperson-in-chargeoftheCompany,Ms.LiJian,theperson-in-chargeoffinancialaffairs(ChiefFinancialOfficer),andMs.JingChunmei,theperson-in-chargeofthefinancialdepartment,herebyguaranteethatthefinancialstatementsinthisReportarefactual,accurate,andcomplete.
AlloftheCompany'sdirectorsattendedtheBoardmeetingforthereviewofthisFirstQuarter2026Report.
Thefutureplans,developmentstrategiesorotherforward-lookingstatementsmentionedinthisReportshallNOTbeconsideredaspromisesoftheCompanytoinvestors.Therefore,investorsarekindlyremindedtopayattentiontopossibleinvestmentrisks.
ThisReporthasnotbeenaudited.ThisReporthasbeenpreparedinbothChineseandEnglish.Shouldtherebeanydiscrepanciesormisunderstandingsbetweenthetwoversions,theChineseversionshallprevail.
Definitions
| Term | Refersto | Definition |
| The"Company",the"Group","TCLTECH.",or"we" | Refersto | TCLTechnologyGroupCorporation |
| ReportingPeriod | Refersto | TheperiodfromJanuary1,2026toMarch31,2026. |
| TCLCSOT | Refersto | TCLChinaStarOptoelectronicsTechnologyCo.,Ltd. |
| TZE | Refersto | TCLZhonghuanRenewableEnergyTechnologyCo.,Ltd.,amajority-ownedsubsidiaryoftheCompanylistedontheShenzhenStockExchange(stockcode:002129.SZ) |
| ZhonghuanAdvanced | Refersto | ZhonghuanAdvancedBandaotiTechnologyCo.,Ltd. |
| MokaTechnology | Refersto | MokaInternationalLimited |
| TPC | Refersto | TianjinPrintronicsCircuitCorporation,amajority-ownedsubsidiaryoftheCompanylistedontheShenzhenStockExchange(stockcode:002134.SZ) |
| Highly | Refersto | HighlyInformationIndustryCo.,Ltd.,aholdingsubsidiaryoftheCompanylistedontheNationalEquitiesExchangeandQuotations |
| ChuangkePhotoelectrics | Refersto | HunanChuangkePhotoelectricsCo.,Ltd. |
| DKE | Refersto | DKEHoldingCompanyLimited |
| CSRC | Refersto | TheChinaSecuritiesRegulatoryCommission |
| SZSE | Refersto | ShenzhenStockExchange |
| RMB | Refersto | Renminbi |
SectionIIKeyFinancialInformation
(I)KeyaccountingdataandfinancialindicatorsIndicatewhetherthereisanyretrospectivelyadjustedorrestateddatuminthetablebelow
□Yes?No
| Q12026 | Q12025 | Change(%) | |
| Operatingrevenue(RMB) | 43,454,292,275 | 40,075,565,888 | 8.43% |
| Netprofitsattributabletothecompany'sshareholders(RMB) | 1,556,452,595 | 1,012,576,836 | 53.71% |
| Netprofitsattributabletothecompany'sshareholdersafternon-recurringgainsandlosses(RMB) | 1,154,847,882 | 957,668,832 | 20.59% |
| Netcashgeneratedfromoperatingactivities(RMB) | 11,394,756,856 | 12,074,907,584 | -5.63% |
| Basicearningspershare(RMB/share) | 0.0692 | 0.0545 | 26.97% |
| Dilutedearningspershare(RMB/share) | 0.0682 | 0.0539 | 26.53% |
| Weightedaveragereturnonequity(%) | 2.47% | 1.91% | Increasedby0.56percentagepointsYoY |
| March31,2026 | December31,2025 | Change(%) | |
| Totalassets(RMB) | 366,410,203,352 | 372,738,314,312 | -1.70% |
| EquityattributabletoshareholdersoftheCompany(RMB) | 63,684,356,235 | 61,432,756,524 | 3.67% |
(II)Non-recurringprofitandlossitemsandamount
?Applicable□Notapplicable
Unit:RMB
| Item | AmountintheReportingPeriod |
| Gainsandlossesondisposalofnon-currentassets(inclusiveofimpairmentallowancewrite-offs) | 43,261,132 |
| Publicgrantschargedtocurrentgainsandlosses(exceptforpublicgrantsthatarecloselyrelatedtotheCompany'sdailyoperations,complywithnationalpolicies,aregrantedbasedondeterminedstandards,andhaveacontinuousimpactontheCompany'sgainsandlosses) | 616,591,592 |
| Theprofitsorlossesgeneratedfromchangesinfairvaluearisingfromfinancialassetsandfinancialliabilitiesheldbynon-financialenterprisesandtheprofitsorlossesfromthedisposalofsuchfinancialassetsandfinancialliabilities,exceptfortheeffectivehedgingbusinessrelatedtothecompany'snormalbusinessoperations | 19,423 |
| Non-operatingincomeandexpensesotherthantheabove | 142,961,493 |
| Less:Amountaffectedbyincometax | 99,919,613 |
| Amountaffectedbyequityofminorityshareholders(netoftax) | 301,309,314 |
| Total | 401,604,713 |
Detailsofotherprofitandlossitemsthatmeetthedefinitionofnon-recurringprofitsandlosses:
□Applicable?NotapplicableTheCompanyhasnootherprofitandlossitemsthatmeetthedefinitionofnon-recurringprofitsandlosses.Notesonnon-recurringprofitandlossitemsthatarelistedintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic—Non-RecurringGain/LossshallbeusedtodefineRecurringGain/Lossitems
□Applicable?NotapplicableTheCompanydoesnothaveanynon-recurringprofitandlossitemslistedintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic—Non-RecurringGain/Lossthataredefinedasrecurringprofitandlossitems.
(III)Changesinkeyaccountingdataandfinancialindicatorsandreasonsforsuchchanges
?Applicable□Notapplicable
| BalanceSheetitems | Endingbalance | Beginningbalance | Increase/decreaseratio(%) | Reasonsforchanging |
| Held-for-tradingfinancialassets | 25,093,411,353 | 14,473,193,131 | 73% | Mainlyduetotheincreaseinwealthmanagementproducts |
| Othernon-currentassets | 11,212,157,283 | 18,311,725,167 | -39% | MainlyduetotheequitytransfercompletedduringtheReportingPeriod |
| IncomeStatementitems | Currentbalance | Priorbalance | Increase/decreaseratio(%) | Reasonsforchanging |
| Returnoninvestment | 771,371,339 | 410,385,564 | 88% | Mainlyduetotheincreaseinshareofprofitfromassociates |
| Gainonchangesinfairvalue | 364,862,412 | 264,792,963 | 38% | Mainlyduetothechangesinfairvalueofinvestments |
| CashFlowStatementitems | Currentbalance | Priorbalance | Increase/decreaseratio(%) | Reasonsforchanging |
| Netcashgeneratedfrominvestingactivities | -10,586,883,805 | -29,606,911,388 | 64% | Mainlyduetotheincreaseinproceedsfromdisinvestments |
| Netcashgeneratedfromfinancingactivities | -6,786,894,329 | 20,775,743,981 | -133% | MainlyduetothedecreaseinfinancingactivitiesduringtheReportingPeriod |
SectionIIIManagementDiscussionandAnalysisI.OverallOperatingPerformanceoftheCompanyDuringtheReportingPeriod
Sincethestartoftheyear,escalatinginternationalgeopoliticalconflictsandsurgingupstreamenergypriceshavereignitedupwardpressureoninflation.Againstthisbackdrop,themomentumofglobaleconomicgrowthhasweakened,withmacroeconomicuncertaintiesincreasingsubstantially.Inthefaceofexternalchallenges,theCompanyfocusedonthreekeybusinesspillars,includingdisplays,newenergyphotovoltaics,andothersiliconmaterials.Wecontinuouslystrengthenedtheoperationsbarrierscharacteristicofhigh-tech,heavy-asset,andlong-cycleindustries,anchoredourleadingstrategy,andpursuedsustainablehigh-qualitydevelopment.
DuringtheReportingPeriod,theCompanyachievedoperatingrevenueofRMB43.45billion,representedayear-on-yearincreaseof8.4%.NetprofitattributabletoshareholdersoftheCompanyamountedtoRMB1.56billion,representedasubstantialyear-on-yearsurgeof53.7%,whileoperatingcashflowreachedRMB11.39billion.AsoftheendoftheReportingPeriod,theCompany'sdebt-to-assetratiostoodat65.0%,anincreaseof0.8percentagepointsfromtheendofthepreviousreportingperiod;cashandcashequivalentsattheendoftheReportingPeriodwereRMB20.60billion.II.OperationsPerformanceoftheCompany'sCoreBusinessesDuringtheReportingPeriod
TheCompanywasdeeplyengagedinleadingedgemanufacturingindustriescharacterizedbyhightechnology,heavyassets,andlongcycleswithdisplays,newenergyphotovoltaics,andothersiliconmaterialsatitscore,andcontinuouslypromotedtechnologicalinnovationandindustrialadvancementsupportingthestrategicgoalsofgloballeadership.(I)DisplayBusiness
1.TCLCSOT
InQ12026,thesupply-demanddynamicsoftheglobalLCDpanelindustryimprovedremarkably.Theoverallhealthoftheindustryenhanced,anditwasenteringatrackofsounddevelopment.Onthedemandside,themarketdemandremainedresilient,supportedbyinventorystockinginpreparationfortheFIFAWorldCupandthecontinuedimplementationofChina'strade-inpolicy.TVpanelpricesgenerallyrosethisquarter,whilepricesformonitorandnotebookpanelsremainedstable.However,followingthesecondroundofpriceincreasesby
smartphonebrands,therewasariskofaphasedslowdowninend-userdemand.Onthesupplyside,theindustrymaintainedastrategyofon-demandproductionandprecisecapacitycontrol,effectivelyaligningwithmarketrhythmsandmaintainingadynamicsupply-demandbalance,layingasolidfoundationforstableoperationandsustainabledevelopment.DuringtheReportingPeriod,TCLCSOTachievedsteadygrowthdrivenbyitsbalancedbusinesslayout.Inthefirstquarter,itrecordedoperatingrevenueofRMB25.18billionandnetprofitofRMB1.85billion,withnetprofitattributabletoshareholdersofTCLTECH.reachedRMB1.56billion.
Inthelarge-sizeddisplayfield,TCLCSOTmaintainedaleadingglobalpositionincomprehensivecompetitivenessandprofitability,withitsstatusasanindustryleaderfurtherconsolidated.TheCompanycontinuedtopromotehigh-endTVsolutionscenteredonHVAUltratechnology,leadingtheultra-large-sizedandhigh-endmarketswithpicturequalitythattranscendedthelimitsofhumanvisualperception.
Inthemedium-sizeddisplaysegment,thebusinessmaintainedrapidgrowth,withbothmarketshareandcorecompetitivenessenhancedsimultaneously.MNTmaintaineditsglobalNo.?2ranking,withitsmarketsharerisingby3%year-on-year;meanwhile,itse-sportsmonitorscontinuedtoholdtheworld'sNo.?1position.LeveragingitstechnologicaladvantagesinHVAandHFS,theCompanyhasbeentheofficialstrategicdisplayequipmentpartneroftheIntelMasterChallengeforthreeconsecutiveyears.Thenotebookandvehicle-mountedsegmentsalsoachievedrobustgrowth.GlobalnotebookpanelshipmentsrosetoNo.?4worldwide,whileLTPSvehicle-mountedpanelshipmentareasurgedtoNo.?1globally,markingaleapfrogbreakthrough.
Inthesmall-sizeddisplaysector,theCompanyfocusedonthemid-to-high-endmarketwithcontinuouslyenhancedproductcompetitiveness.Boastinghighimagequalityandlowpowerconsumption,SuperPixeltechnologyhasbeenwidelyadoptedintheflagshipmodelsoftheworld'sleadingsmartphonebrandsonalargescale,andwasrapidlyexpandingtocoverabroaderrangeofproductlines.
Thespecializeddisplaybusinessfurtheroptimizeditsindustriallayoutthroughmergers,acquisitionsandstrategiccooperation.TCLCSOTcompletedthestrategicacquisitionofChuangkePhotoelectrics,integratedsuperiorresources,anddroveintegratedinnovationindisplayandoptoelectronictechnologies.JoiningforceswithpartnerssuchasDKE,itadvancedthee-papermoduleprojects,therebyfillinggapsinthemedium-sizedspecializeddisplayportfolioandacceleratingthelarge-scale,standardizedapplicationofe-paperacrossdiversescenarios.
Intermsofcutting-edgetechnologylayout,theindustrializationprocessoftwostrategictracks—printedOLEDandMLED—advancedsteadily.TheconstructionofGuangzhouG8.6printedOLEDproductionline(t8Project)progressedasplanned.Themainfactorybuildingisexpectedtobetoppedoutinthesecondquarter,withthemove-inofmainequipmenttocommenceinthefourthquarter.TheyieldandqualityofproductsfromtheWuhanG5.5printedOLEDproductionline(t12)continuedtoimprove.Medicaldisplayproductshavealreadyachievedstablemassproduction,andITcategoryproductswillentermassproductioninthethirdquarter.Inaddition,theCompany,inpartnershipwithaworld-leadingbrand,unveiledarollabledisplayconceptnotebook.Its16-inchscreencanbeseamlesslyextendedto21.5or23.8inches,fullydemonstratingtheenormouspotentialofprintedOLEDtechnologyindrivingnext-generationdisplayformfactorinnovation.Thefull-chainlayoutofMLEDwasfurtherimproved.DuringtheReportingPeriod,theequitytransferbetweentheCompanyandFujianElectronics&Information(Group)Co.,Ltd.forFujianZhaoyuanOptoelectronicsCo.,Ltd.wascompletedsuccessfully,whichwasrenamedFuzhouHuazhaoOptoelectronicsCo.,Ltd.ThisacquisitionenablesverticalintegrationfromLEDchipstodisplaymodules,whichwillfurtheracceleratethelarge-scaleimplementationandpenetrationofMini/MicroLEDinscenariossuchasultra-large-screenTVs,commercialdisplaysandintelligentvehicle-mountedcockpits.
DuringtheReportingPeriod,TCLCSOTcontinuouslyoptimizeditsglobalindustriallayoutandbuiltahighlyresilientandreliableglobalsupplychainsystem,withoverseasbusinessmaintainingsteadygrowth.OperationsattheIndianbaseforTVandvehicle-mounteddisplayshaveadvancedsteadily,withongoingimprovementsinoperatingefficiency.AttheVietnamesebase,ITproductshaveenteredstablemassproductionandshipment,furtherenhancingoverseasdeliverycapacityandcustomerservicestandards.
Lookingahead,asindustryconcentrationcontinuestoriseandthesupply-sidelandscapekeepsoptimizing,theindustry'sabilitytomaintainstableprofitabilitywillbefurtherstrengthened.Asanindustryleader,TCLCSOTwillupholdthedual?enginestrategyof"technologicalinnovation"and"brandvalue",continuouslystrengthenitsleadingpositionintheglobaldisplayindustry,anddrivehigh?qualitydevelopmentacrossthesector.
2.MokaTechnology
MokaTechnologyspecializesintheODMbusinessforintelligentdisplayterminalproductssuchasTVs,monitors,andcommercialdisplays,andistheworld'slargestTVODMmanufacturer.InQ12026,MokaTechnologyachievedoperatingrevenueofRMB4.58billion.
ItsshipmentvolumeofTVODMbusinessremainedthetopglobally;theshipmentvolumeofmonitorODMincreasedby12%yearonyear,rankingfourthglobally.(II)NewEnergyPhotovoltaicsBusiness
DuringtheReportingPeriod,theCompany'sphotovoltaicmaterialsbusinessfocusedonenhancingitscompetitiveedgebyaligningproductionwithactualdemand,pursuingstringentcostefficiency,andfurtheroptimizingitsflexiblesupplychainsystem.Itachievedcostreductionsthroughtechnologicaliterationandprocessimprovement,whiletightlycontrollingmanufacturingexpensesandvariousperiodcostsbyimplementingend-to-endleanorganizationalprocesses.Byfurtherdeepeningcooperationwithstrategiccustomersandstrengtheningproductdifferentiationadvantages,theCompany'sphotovoltaicmaterialsachievedashipmentvolumeof25GW.TheCompany'sphotovoltaiccellandmodulebusinesspursuedadualapproachoforganicgrowthandexternalacquisitionstocontinuouslyenhanceitsbusinesscapabilities.DuringtheReportingPeriod,theCompany'smoduleshipmentreached2.9GW,ayear-on-yearincreaseofover50%.TheCompanywassuccessivelyshortlistedandwonbidsforcentralizedprocurementprojectsofcentralstate-ownedenterprises,makingcertainbreakthroughsinthecentralandstate-ownedenterprisebusinesssector.Meanwhile,theCompanyactivelyseizedopportunitiesatthebottomoftheindustrycycle,promotedtheverticalextensionandhorizontalexpansionofitsindustrialchainthroughexternalacquisitions,therebyaddressingbusinessshortcomings.(III)OtherSiliconMaterialsBusiness
Inlinewithitsstrategicgoalofgloballeadership,theCompany'ssiliconmaterialsbusinessactivelyrespondedtokeyindustrialtransformationopportunities.Itconsolidatedthecompetitiveadvantagesofitspowerproducts,bolsteredthecompetitivenessfoundationforhigh-valueproducts,andactivelyexpandedoverseasbusinesstocreatedifferentiatedcompetitiveness.DuringtheReportingPeriod,theproductionandsalesscaleofthesiliconmaterialsbusinesscontinuedtoexpand,achievingoperatingrevenueofRMB1.44billion,ayear-on-yearincreaseof
8.5%,withalloperationalactivitiesadvancingsteadily.(IV)Non-corebusiness
DuringtheReportingPeriod,TianjinPrintronicsCircuitandHighlymaintainedstableoperationsacrosstheircorebusinesses,whiletheirfinancialandinvestmentsegmentscontinuedtogeneratesteadyearnings.Facingasevereandcomplexexternalenvironment,theCompanywillembracethespiritof"ForgingAheadtoConquerNewChallenges".Byadheringtotheoperationalphilosophyof"StrategicLeadership,Innovation-Driven,AdvancedManufacturing,andGlobalOperations",theCompanywillseizethehistoricopportunitiespresentedbytheadvancementoftheleadingedgemanufacturingindustryandtransformationoftheglobalenergystructuretoachievesustainablehigh-qualitydevelopmentandmovetowardgloballeadership.
SectionIVUseoftheCapitalRaised
□Applicable?NotapplicableTherewasnoinstanceofutilizationofraisedcapitalduringtheReportingPeriod.
SectionVShareholderInformation(I)Tableofthetotalnumberofordinaryshareholdersandthenumberofpreferredshareholderswithresumedvotingrightsaswellastheshareholdingsofthetop10shareholders
Unit:share
| TotalnumberofordinaryshareholdersbytheendoftheReportingPeriod | 614,385 | TotalnumberofpreferredshareholderswithresumedvotingrightsbytheendoftheReportingPeriod | 0 | |||
| Shareholdingsoftop10shareholdersofordinaryshares(excludingthelendingofsharesunderrefinancing) | ||||||
| Nameofshareholder | Natureofshareholder | Shareholdingpercentage(%) | Numberofsharesheld | Numberofrestrictedordinarysharesheld | Sharesinpledge,markedorfrozen | |
| Status | Number | |||||
| LiDongsheng | Domesticindividual/Domesticgenerallegalentity | 6.09% | 1,266,680,807 | 674,839,553 | Notapplicable | 0 |
| NingboJiutianLianchengEquityInvestmentPartnership(LimitedPartnership) | Inpledge | 153,100,000 | ||||
| ShenzhenMajorIndustrialDevelopmentPhaseIFundCo.,Ltd. | Publiclegalentity | 4.74% | 986,292,106 | 986,292,106 | Notapplicable | 0 |
| HongKongSecuritiesClearingCompanyLtd. | Foreignlegalentity | 3.78% | 785,681,678 | 0 | Notapplicable | 0 |
| HuizhouInvestmentHoldingCo.,Ltd. | Publiclegalentity | 2.58% | 535,767,694 | 0 | Notapplicable | 0 |
| WuhanOpticsValleyIndustrialInvestmentCo.,Ltd. | Publiclegalentity | 1.20% | 249,848,896 | 0 | Inpledge | 124,000,000 |
| PerseveranceAssetManagementPartnership(LimitedPartnership)-GaoyiXiaofengNo.2ZhixinFund | Fund,wealthmanagementproduct,etc. | 0.90% | 188,000,000 | 0 | Notapplicable | 0 |
| BankofChinaLimited-Huatai-PinebridgeCSIPhotovoltaicIndustryETF | Fund,wealthmanagementproduct,etc. | 0.86% | 179,276,240 | 0 | Notapplicable | 0 |
| TCLTechnologyGroupCorporation-2025EmployeeStockOwnershipPlan | Fund,wealthmanagementproduct,etc. | 0.84% | 174,747,985 | 0 | Notapplicable | 0 |
| IndustrialandCommercialBankofChina-Huatai-PinebridgeCSI300ETF | Fund,wealthmanagementproduct,etc. | 0.80% | 167,406,726 | 0 | Notapplicable | 0 |
| Shareholdingsoftop10non-restrictedordinaryshareholders(excludingthelendingofsharesunderrefinancingandrestrictedsharesheldbyseniormanagement) | ||||||
| Nameofshareholder | Numberofnon-restrictedsharesheld | Typeofshares | ||
| Typeofshares | Quantity | |||
| HongKongSecuritiesClearingCompanyLtd. | 785,681,678 | RMB-denominatedordinaryshares | 785,681,678 | |
| LiDongsheng | 591,841,254 | RMB-denominatedordinaryshares | 591,841,254 | |
| NingboJiutianLianchengEquityInvestmentPartnership(LimitedPartnership) | ||||
| HuizhouInvestmentHoldingCo.,Ltd. | 535,767,694 | RMB-denominatedordinaryshares | 535,767,694 | |
| WuhanOpticsValleyIndustrialInvestmentCo.,Ltd. | 249,848,896 | RMB-denominatedordinaryshares | 249,848,896 | |
| PerseveranceAssetManagementPartnership(LimitedPartnership)-GaoyiXiaofengNo.2ZhixinFund | 188,000,000 | RMB-denominatedordinaryshares | 188,000,000 | |
| BankofChinaLimited-Huatai-PinebridgeCSIPhotovoltaicIndustryETF | 179,276,240 | RMB-denominatedordinaryshares | 179,276,240 | |
| TCLTechnologyGroupCorporation-2025EmployeeStockOwnershipPlan | 174,747,985 | RMB-denominatedordinaryshares | 174,747,985 | |
| IndustrialandCommercialBankofChina-Huatai-PinebridgeCSI300ETF | 167,406,726 | RMB-denominatedordinaryshares | 167,406,726 | |
| AbuDhabiInvestmentAuthority–Ownfunds | 166,363,472 | RMB-denominatedordinaryshares | 166,363,472 | |
| Noteontheaboveshareholders'associationsorconcertedactions | Amongthetop10shareholders,Mr.LiDongshengandNingboJiutianLianchengEquityInvestmentPartnership(LimitedPartnership)becamepersonsactinginconcertbysigningtheAgreementonConcertedAction.Mr.LiDongshengholds899,786,071sharesandNingboJiutianLianchengEquityInvestmentPartnership(LimitedPartnership)holds366,894,736shares,representing1,266,680,807sharesintotalandbecomingthelargestshareholderoftheCompany. | |||
| Explanationofthetop10ordinaryshareholdersparticipatinginsecuritiesmargintrading(ifany) | AttheendoftheReportingPeriod,WuhanOpticsValleyIndustrialInvestmentCo.,Ltd.,amongtheshareholdersabove,heldcertainsharesoftheCompanythroughacreditsecurityaccount. | |||
Note:TheshareholderlistedaboveasTCLTechnologyGroupCorporation-2025EmployeeStockOwnershipPlanrepresentsthesecuritiesaccountfortheCompany'semployeestockownershipplan.Thesharesheldunderthisaccountaresubjecttoa12-monthlock-upperiodcommencingfromNovember6,2025,duringwhichnotradingshallbeconducted.Participationofshareholdersholdingmorethan5%,thetop10shareholders,andthetop10non-restrictedshareholdersinthelendingofsharesundertherefinancingbusiness
□Applicable?Notapplicable
Changeinthetop10shareholdersandthetop10non-restrictedshareholdersduetosecuritieslending/returningunderrefinancingascomparedtothepreviousperiod
□Applicable?Notapplicable
(II)Totalnumberofpreferredshareholdersandshareholdingsofthetop10preferredshareholders
□Applicable?Notapplicable
IV.OtherSignificantEvents
?Applicable□Notapplicable
1.TheCompanyplanstoacquirethe45%equityinterestinGuangzhouChinaStarOptoelectronicsBandaotiDisplayTechnologyCo.,Ltd.heldinaggregatebyGuangdongHengjianInvestmentHoldingCo.,Ltd.,GuangzhouChengfaXingguangInvestmentPartnership(LimitedPartnership)andScienceCity(Guangzhou)InvestmentGroup,bywayofshareissuancesandcashpayments.OnMarch30,2026,theCompanyconvenedthe21stmeetingofthe8thBoardofDirectors,atwhichitreviewedandapprovedproposalsincludingtheReport(Draft)onAssetPurchaseviaShareIssuanceandCashPaymentandRaisingofSupportingFundsofTCLTechnologyGroupCorporation.TheCompanyproposestoacquire,throughshareissuanceandcashpayment,the45%equityinterestinGuangzhouChinaStarOptoelectronicsBandaotiDisplayTechnologyCo.,Ltd.(correspondingtoaregisteredcapitalofRMB7.875billion)heldbyGuangdongHengjianInvestmentHoldingCo.,Ltd.,GuangzhouChengfaXingguangInvestmentPartnership(LimitedPartnership)andScienceCity(Guangzhou)InvestmentGroupCo.,Ltd.,andtoraisesupportingfundsconcurrently.
TheabovematterswerereviewedandapprovedattheCompany's2025AnnualGeneralMeetingheldonApril24,2026,andtheCompanyisproceedingwiththerelevantmattersinanorderlymanner.
SectionVIQuarterlyFinancialStatements
(I)Financialstatements
1.ConsolidatedBalanceSheetPreparedby:TCLTechnologyGroupCorporation
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Currentassets: | ||
| Cashandcashequivalents | 21,787,856,313 | 30,460,060,493 |
| Held-for-tradingfinancialassets | 25,093,411,353 | 14,473,193,131 |
| Derivativefinancialassets | 45,325,549 | 78,957,405 |
| Notesreceivable | 199,089,202 | 480,225,462 |
| Accountsreceivable | 20,244,993,133 | 22,153,002,606 |
| Receivablesfinancing | 284,671,277 | 625,788,752 |
| Prepayments | 2,847,204,113 | 1,909,443,641 |
| Otherreceivables | 3,283,717,482 | 3,500,621,513 |
| Including:Dividendsreceivable | 2,807,610 | 424,441,285 |
| Inventories | 20,357,706,451 | 18,370,708,289 |
| Contractassets | 385,518,416 | 385,576,416 |
| Held-for-saleassets | 363,065,629 | |
| Non-currentassetsduewithinoneyear | 2,088,309,443 | 1,564,945,242 |
| Othercurrentassets | 8,475,150,063 | 8,411,623,798 |
| Totalcurrentassets | 105,092,952,795 | 102,777,212,377 |
| Non-currentassets: | ||
| Debtinvestments | 576,326,999 | 578,158,579 |
| Long-termreceivables | 91,207,095 | 120,628,033 |
| Long-termequityinvestments | 23,738,591,438 | 23,349,193,104 |
| Investmentsinotherequityinstruments | 176,335,401 | 356,455,767 |
| Othernon-currentfinancialassets | 3,629,853,342 | 3,172,659,077 |
| Investmentproperties | 432,939,269 | 401,873,017 |
| Property,Plantandequipment | 162,600,655,432 | 165,003,155,646 |
| Constructioninprogress | 17,930,431,670 | 16,176,848,470 |
| Right-of-useassets | 4,483,953,814 | 6,189,174,496 |
| Intangibleassets | 18,416,559,958 | 18,467,310,369 |
| Developmentcosts | 1,120,135,105 | 1,204,955,478 |
| Goodwill | 11,436,177,181 | 11,409,749,045 |
| Long-termdeferredexpenses | 2,486,902,673 | 2,282,883,407 |
| Deferredtaxassets | 2,985,023,897 | 2,936,332,280 |
| Othernon-currentassets | 11,212,157,283 | 18,311,725,167 |
| Totalnon-currentassets | 261,317,250,557 | 269,961,101,935 |
| Totalassets | 366,410,203,352 | 372,738,314,312 |
| Currentliabilities: | ||
| Short-termborrowings | 9,596,818,988 | 7,552,523,460 |
| BorrowingsfromtheCentralBank | 29,887,683 | 29,756,431 |
| Held-for-tradingfinancialliabilities | 254,908,868 | 235,716,703 |
| Derivativefinancialliabilities | 45,880,973 | 50,434,753 |
| Notespayable | 7,547,742,980 | 6,465,600,185 |
| Accountspayable | 33,540,699,579 | 32,251,944,054 |
| Advancesfromcustomers | 5,384,384 | 6,823,420 |
| Contractliabilities | 1,503,491,703 | 2,009,842,277 |
| Customerdepositsanddepositsfromotherbanksandfinancialinstitutions | 233,298,530 | 364,713,587 |
| Employeecompensationpayable | 4,966,799,007 | 4,966,488,419 |
| Taxesandleviespayable | 1,245,369,984 | 1,238,333,745 |
| Otherpayables | 17,414,476,170 | 17,715,637,558 |
| Including:Dividendspayable | 13,248,740 | 48,248,756 |
| Held-for-saleliabilities | 71,510,148 | |
| Non-currentliabilitiesduewithinoneyear | 29,829,131,878 | 30,909,783,775 |
| Othercurrentliabilities | 1,626,897,874 | 1,662,143,866 |
| Totalcurrentliabilities | 107,840,788,601 | 105,531,252,381 |
| Non-currentliabilities: | ||
| Long-termborrowings | 112,266,361,757 | 116,139,349,491 |
| Bondspayable | 7,984,166,666 | 7,981,874,250 |
| Leaseliabilities | 4,049,730,956 | 4,148,597,798 |
| Long-termpayables | 1,376,035,211 | 1,388,758,641 |
| Long-termemployeecompensationpayable | 21,449,962 | 21,605,303 |
| Provisionforliabilities | 238,324,096 | 231,480,076 |
| Deferredincome | 2,814,040,646 | 2,151,175,867 |
| Deferredtaxliabilities | 1,657,408,547 | 1,775,607,133 |
| Othernon-currentliabilities | 17,934,506 | 25,635,061 |
| Totalnon-currentliabilities | 130,425,452,347 | 133,864,083,620 |
| Totalliabilities | 238,266,240,948 | 239,395,336,001 |
| Owner'sequity: | ||
| Sharecapital | 20,800,862,447 | 20,800,862,447 |
| Otherequityinstruments | 997,630,000 | |
| Including:Perpetualbonds | 997,630,000 | |
| Capitalreserves | 13,810,362,042 | 14,155,724,550 |
| Less:Treasuryshare | 1,499,481,826 | 1,503,652,075 |
| Othercomprehensiveincome | -1,004,023,599 | -1,042,359,133 |
| Specificreserves | 5,971,438 | 5,597,597 |
| Surplusreserves | 4,096,815,620 | 4,096,815,620 |
| Generalriskreserve | 8,933,515 | 8,933,515 |
| Retainedearnings | 26,467,286,598 | 24,910,834,003 |
| Totalequityattributabletotheownersoftheparentcompany | 63,684,356,235 | 61,432,756,524 |
| Non-controllinginterests | 64,459,606,169 | 71,910,221,787 |
| Totalowners'equity | 128,143,962,404 | 133,342,978,311 |
| Totalliabilitiesandowners'equity | 366,410,203,352 | 372,738,314,312 |
| Legalrepresentative:LiDongsheng | Person-in-chargeoffinancialaffairs:LiJian | Person-in-chargeofthefinancialdepartment:JingChunmei |
2.ConsolidatedIncomeStatement
Unit:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod |
| I.Totalrevenue | 43,477,821,237 | 40,119,483,879 |
| Including:Operatingrevenue | 43,454,292,275 | 40,075,565,888 |
| Interestincome | 23,528,962 | 43,917,991 |
| II.Totalcosts | 43,520,098,202 | 40,034,031,513 |
| Including:Operatingcost | 38,023,599,166 | 34,770,303,229 |
| Interestexpenditures | 411,121 | 3,394,533 |
| Taxesandlevies | 250,796,504 | 235,686,109 |
| Sellinganddistributionexpenses | 598,068,310 | 569,691,025 |
| Administrativeexpenses | 1,126,319,360 | 1,182,211,685 |
| R&Dexpenses | 2,217,816,895 | 2,141,488,676 |
| Financialexpenses | 1,303,086,846 | 1,131,256,256 |
| Including:Interestexpenses | 969,465,736 | 1,227,945,004 |
| Interestincome | 56,212,126 | 126,151,505 |
| Add:Otherincome | 321,820,527 | 443,667,749 |
| Returnoninvestment(lossesareindicatedby"-") | 771,371,339 | 410,385,564 |
| Including:Returnoninvestmentinjointventuresandassociates | 515,703,922 | 309,178,003 |
| Exchangegains(lossesareindicatedby"-") | 517,037 | 54,616 |
| Gainonchangesinfairvalue(lossesareindicatedby"-") | 364,862,412 | 264,792,963 |
| Creditimpairmentloss(lossesareindicatedby"-") | -3,523,177 | -12,143,461 |
| Assetimpairmentloss(lossesareindicatedby"-") | -835,062,580 | -776,773,537 |
| Assetdisposalincome(lossesareindicatedby"-") | 42,034,563 | -822,549 |
| III.Operatingprofit(lossesareindicatedby"-") | 619,743,156 | 414,613,711 |
| Add:Non-operatingincome | 7,092,027 | 11,671,427 |
| Less:Non-operatingexpenses | 3,201,091 | 41,571,815 |
| IV.Grossprofit(grosslossisindicatedby"-") | 623,634,092 | 384,713,323 |
| Less:Incometaxexpenses | 15,677,562 | 177,179,324 |
| V.Netprofits(netlossesareindicatedby"-") | 607,956,530 | 207,533,999 |
| (I)Classifiedbycontinuityofoperations | ||
| 1.Netprofitsfromcontinuingoperations(netlossesareindicatedby"-") | 607,956,530 | 207,533,999 |
| 2.Netprofitsfromdiscontinuedoperations(netlossesareindicatedby"-") | ||
| (II)Classificationbyownership |
| 1.Netprofitsattributabletotheowneroftheparentcompany | 1,556,452,595 | 1,012,576,836 |
| 2.Netprofitattributabletonon-controllinginterests | -948,496,065 | -805,042,837 |
| VI.Othercomprehensiveincome,netoftax | 68,858,125 | -84,831,631 |
| Othercomprehensiveincomeattributabletotheownersoftheparentcompany,netoftax | 38,335,534 | -113,612,587 |
| (I)Othercomprehensiveincomethatcannotbesubsequentlyreclassifiedintoprofitsorlosses | -10,606,690 | 5,892,927 |
| 1.Changesarisingfromremeasurementofdefinedbenefitplans | -7,979,968 | -114,396 |
| 2.Othercomprehensiveincomethatcannotbesubsequentlyreclassifiedintoprofitsandlossesundertheequitymethod | 5,829,012 | |
| 3.Changesinfairvalueofinvestmentsinotherequityinstruments | -2,626,722 | 178,311 |
| 4.Changesinfairvalueoftheenterprise'sowncreditrisks | ||
| 5.Others | ||
| (II)Othercomprehensiveincomethatmaysubsequentlybereclassifiedintoprofitsorlosses | 48,942,224 | -119,505,514 |
| 1.Othercomprehensiveincomethatcanbetransferredtoprofitsandlossesundertheequitymethod | 229,697 | -107,212,356 |
| 2.Changesinfairvalueofotherdebtinvestments | ||
| 3.Amountsoffinancialassetsreclassifiedintoothercomprehensiveincome | ||
| 4.Provisionsforcreditimpairmentofotherdebtinvestments | ||
| 5.Reservesforcashflowhedging | -389,377 | |
| 6.Conversiondifferencesinforeigncurrencyfinancialstatements | 48,712,527 | -11,903,781 |
| 7.Others | ||
| Othercomprehensiveincomeattributabletonon-controllinginterests,netoftax | 30,522,591 | 28,780,956 |
| VII.Totalcomprehensiveincome | 676,814,655 | 122,702,368 |
| Totalcomprehensiveincomeattributabletotheshareholdersoftheparentcompany | 1,594,788,129 | 898,964,249 |
| Totalcomprehensiveincomeattributabletonon-controllinginterests | -917,973,474 | -776,261,881 |
| VIII.Earningspershare: | ||
| (I)Basicearningspershare | 0.0692 | 0.0545 |
| (II)Dilutedearningspershare | 0.0682 | 0.0539 |
| Legalrepresentative:LiDongsheng | Person-in-chargeoffinancialaffairs:LiJian | Person-in-chargeofthefinancialdepartment:JingChunmei |
3.ConsolidatedCashFlowStatement
Unit:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod |
| I.Netcashgeneratedfromoperatingactivities: | ||
| Proceedsfromthesaleofcommoditiesandrenderingofservices | 48,294,959,578 | 45,174,581,952 |
| Netincreaseofdepositsfromcustomers,banks,andotherfinancialinstitutions | -131,454,837 | 139,860,802 |
| NetincreaseofborrowingsfromtheCentralBank | 184,513,784 | |
| Cashreceivedfrominterest,servicefeesandcommission | 26,474,420 | 35,868,326 |
| Taxandlevyrebates | 2,491,906,539 | 1,289,243,738 |
| Cashgeneratedfromotheroperatingactivities | 3,670,863,582 | 3,616,075,374 |
| Sub-totalofcashgeneratedfromoperatingactivities | 54,352,749,282 | 50,440,143,976 |
| Paymentsforcommoditiesandservices | 33,986,294,482 | 29,627,034,445 |
| Netincreaseofloansandadvancestocustomers | 118,573,900 | |
| NetincreaseofdepositswiththeCentralBank,banks,andotherfinancialinstitutions | -48,596,022 | 82,639,406 |
| Cashpaidforinterest,servicechargesandcommissions | 484,084 | |
| Cashpaidtoandforemployees | 3,800,798,164 | 3,432,782,131 |
| Taxesandleviespaid | 1,016,892,674 | 1,272,574,824 |
| Cashusedinotheroperatingactivities | 4,202,119,044 | 3,831,631,686 |
| Sub-totalofcashusedinoperatingactivities | 42,957,992,426 | 38,365,236,392 |
| Netcashgeneratedfromoperatingactivities | 11,394,756,856 | 12,074,907,584 |
| II.Cashflowgeneratedfrominvestingactivities: | ||
| Proceedsfromdisinvestments | 33,524,542,737 | 21,212,791,964 |
| Proceedsfromreturnoninvestments | 1,172,246,879 | 671,013,734 |
| Netproceedsfromdisposaloffixedassets,intangibleassets,andotherlong-termassets | 285,210,121 | 3,057,210 |
| Cashgeneratedfromotherinvestingactivities | 49,285,222 | 44,764,963 |
| Sub-totalofcashgeneratedfrominvestmentactivities | 35,031,284,959 | 21,931,627,871 |
| Paymentsfortheacquisitionandconstructionoffixedassets,intangibleassetsandotherlong-termassets | 5,240,054,252 | 5,194,578,467 |
| Paymentsforinvestments | 38,482,593,256 | 45,778,264,627 |
| Netpaymentsforacquiringsubsidiariesandotherbusinessunits | 1,757,431,269 | |
| Cashusedinotherinvestingactivities | 138,089,987 | 565,696,165 |
| Subtotalofcashusedininvestingactivities | 45,618,168,764 | 51,538,539,259 |
| Netcashgeneratedfrominvestingactivities | -10,586,883,805 | -29,606,911,388 |
| III.Cashflowgeneratedfromfinancingactivities: | ||
| Capitalcontributionsreceived | 1,548,453,718 |
| Including:Capitalcontributionsbynon-controllingintereststosubsidiaries | 550,823,718 | |
| Borrowingsraised | 13,120,757,091 | 35,183,666,808 |
| Cashgeneratedfromotherfinancingactivities | 2,710,069 | 482,123,391 |
| Sub-totalofcashgeneratedfromfinancingactivities | 14,671,920,878 | 35,665,790,199 |
| Cashpaidfordebtrepayment | 15,053,848,171 | 13,246,057,298 |
| Cashpaidfordistributionofdividendsandprofitsorrepaymentofinterests | 1,103,363,208 | 1,360,514,917 |
| Including:Dividendandprofitpaidbysubsidiariestominorityshareholders | 8,782,875 | |
| Cashusedinotherfinancingactivities | 5,301,603,828 | 283,474,003 |
| Subtotalofcashusedinfinancingactivities | 21,458,815,207 | 14,890,046,218 |
| Netcashgeneratedfromfinancingactivities | -6,786,894,329 | 20,775,743,981 |
| IV.Effectofexchangeratechangesoncashandcashequivalents | 8,649,128 | 78,850,276 |
| V.Netincreaseincashandcashequivalents | -5,970,372,150 | 3,322,590,453 |
| Add:Cashandcashequivalentsatthebeginningoftheperiod | 26,565,803,114 | 20,861,254,876 |
| VI.Cashandcashequivalentsattheendoftheperiod | 20,595,430,964 | 24,183,845,329 |
| Legalrepresentative:LiDongsheng | Person-in-chargeoffinancialaffairs:LiJian | Person-in-chargeofthefinancialdepartment:JingChunmei |
(II)Adjustmentstofinancialstatementitemsatthebeginningoftheyearofthefirstimplementationofthenewaccountingstandards,whichhavebeenimplementedsince2026
□Applicable?Notapplicable
(III)Auditor'sReport
WhethertheFirstQuarterFinancialReporthasbeenauditedornot?
□Yes?NoTheCompany'sFirstQuarterFinancialReporthasnotyetbeenaudited.
TCLTechnologyGroupCorporation
TheBoardofDirectors
April29,2026