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TCL Technology Announces Results for First Half of 2021, Net Profit Hits USD1.426 Billion

SHENZHEN, China, August 13, 2021 / PRNewswire / – TCL Technology Group Corporation (“TCL Technology”, Stock Code 000100.SZ), a publicly traded company focused on the semiconductor display and materials industry, has closed its half year results (“the reporting period”) June 30, 2021.

In the reporting period, the company achieved an operating profit of around $ 11.45 billion, an increase of 153.3% over the previous year; Net profit was up $ 1.426 billion, a 7.65-fold increase over the previous year; The net profit attributable to the shareholders was around $ 1.04 billion, an increase of 461.5% over the previous year. The company’s two core industries, semiconductor displays and semiconductor photovoltaics, grew significantly during this period and exceeded the company’s annual budget target.

In addition, TCL CSOT, the panel production subsidiary of TCL Technology, achieved a sales area of 17.792 million square meters, which corresponds to an increase of 25.3% compared to the previous year. TCL CSOT’s semiconductor display business achieved an operating profit of $ 6.29 billion, an increase of 93.6% over the previous year; Net profit was $ 1.01 billion, an increase over the previous year $ 1.04 billion. In the second quarter of 2021, TCL CSOT posted net income of $ 649.15 million, an increase of 76% compared to the previous quarter. By continuously expanding and optimizing the product structure, TCL CSOT was able to further increase its market share in various areas, including TV panels, interactive whiteboards, LTPS, etc.

In addition, Zhonghuan Semiconductor, a TCL subsidiary focused on semiconductors and new energies, also contributed to the company’s earnings growth in the first half of 2021. Zhonghuan Semiconductor achieved an operating profit of $ 2.7 billion, an increase of 104.1% over the previous year and a net profit of $ 291.42 million, an increase of 160.6% over the previous year. The photovoltaic industry developed rapidly in the reporting period. Over this time, Zhonghuan Semiconductor’s accumulated technological advantages have developed, the product structure has been changed smoothly, and the production capacity has been continuously improved.

Looking to the future, TCL Technology will further optimize its business strategies with a focus on semiconductor displays, semiconductor photovoltaics and semiconductor materials. Meanwhile, TCL Technology will continue its innovation-driven development, improve operational quality and efficiency, and accelerate global layout to increase competitiveness and lead the global industry.

About TCL

TCL enables customers to enjoy more. With a line of award-winning televisions, audio products, mobile devices and devices, TCL prides itself on delivering meaningful experiences through the combination of thoughtful design and the latest technology. As one of the world’s largest consumer electronics brands, TCL helps bring innovation to everyone with our extensive manufacturing expertise, vertically integrated supply chain and state-of-the-art panel factory. For more product information please visit www.tcl.com for the complete portfolio.

About TCL CSOT

TCL CSOT (TCL China Star Optoelectronics Technology Co., Ltd) is a company dedicated to developing new technologies and innovations in the semiconductor display industry. TCL CSOT actively invests in future technologies such as mini-LED, micro-LED, OLED and ink-jet printing OLED. The company’s business includes large area displays, small medium-sized display and touch modules, interactive whiteboards, video walls, automotive displays and gaming monitors, which contribute to the core competence in the global panel industry.

About Tianjin Zhonghuan Semiconductor

Zhonghuan Semiconductor uses new energy materials and semiconductor materials as two main business areas to drive development, including research and development, production and sales of semiconductor wafers, semiconductor devices, solar wafers and solar cell modules, and the construction and operation of photovoltaic power plants. On July 15, 2020, TCL acquired Zhonghuan Semiconductor, gaining significant presence and strategic reserve in the semiconductor and new energies space.

SOURCE TCL Group

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