TCL Corporation Announces 2014 Full Year Results, with Revenue and Profits Hitting All-Time Highs
SHENZHEN, China, March 9, 2015 /PRNewswire/ -- In March 2015, TCL Corporation (000100.SZ), a Chinese multinational electronics giant and leading electronics company worldwide, announced its financial results for the full year ending December 31, 2014.
Highlights for 2014
- Full year total revenue increased 18.41% year-on-year to $16.44 billion; the sales revenue reached $15.875 billion, at 16.54% year-on-year growth.
- Full year net profit topped $0.689 billion, with a year-on-year growth of 46.73%; Net profit attributable to the shareholders rose by 59.83% to $0.518 billion, with basic earnings of $0.057 per share.
"In 2014, TCL Corporation hit all-time highs in revenue and profit, in spite of widespread weakness in the domestic Chinese market and unfavorable global economic environment," commented Mr. Tomson Li Dongsheng, the Chairman and CEO of TCL Corporation, according to whom, the accomplishment is driven by the corporation's "Double wheel" strategy, namely the "Double +" strategy ("Intelligent + Internet" and "Product + Service" strategy) and globalization strategy.
Performance of Main Business
TCL Corporation owns eleven business sectors which are spread over three major lines of business - products, services and venture investment. Among its business sectors, CSOT, TCL Corporation's LCD panel manufacturing arm and the group's most profitable entity last year, achieved sales revenue of $2.923 billion in 2014, a year-on-year increase of 15.67%, and net profit of $0.396 billion, 7.60% increase year-on-year. According to the data, CSOT has a production capacity exceeding 140,000 units/month and has maintained the leading position across the industry for eight successive quarters in terms of capacity utilization rate, integrated product yield and other major operating indexes. The shipment of large-sized panels had a year-on-year growth of 113% while that of Ultra-HD products recorded the year-on-year growth of 247%.
TCL Communication Technology, the group's fastest-growing company, achieved sales revenue of $3.991 billion in 2014, a year-on-year increase of 60.3%, and net profit of $0.141 billion, a 241% increase, hitting all-time highs in terms of revenue and profit. According to Gartner's data for the fourth quarter of 2014, the quarterly sales of TCL's mobile phone ranked the fourth in the global market. As the proportion of high and mid-end smart products continues to increase the product portfolio of TCL Communication, the product average selling price increased to $53.50 from $45 compared with last year.
TCL Multimedia Technology's business also maintained the steady growth during 2014. During the reporting period, the company generated sales revenue of $4.323 billion and net profit of $31 million. In 2014, TCL Multimedia Technology rolled out WeChat TV, which has proved extremely popular in the Chinese market, and Quantum Dot TV, a display technology that has taken the leading position in the global color TV industry. In addition, the company made remarkable progress in the construction of a smart TV ecosystem. By the end of 2014, total active users of TCL Multimedia Technology's smart network TV had reached 6.75 million. With the service-oriented expertise, TCL Multimedia will play a more significant role in the global market of the family-use large-sized screen.
Business Outlook for 2015
The overall objective of TCL Corporation for 2015 is to achieve an 18% rise in sales revenue, including a 25% rise in overseas revenue.
| Note: the above statistics come with the cumulative average USD to CNY rate of 6.1453 in 2014. |
About TCL Corporation
Founded in 1981, TCL Corporation (000100. SZ) is one of the global leading consumer electronics firms, with four listed companies under its wing: TCL Multimedia Technology (01070.HK), TCL Communication Technology (02618. HK) and Tonly Electronics (01249. HK). Currently, TCL owns 11 entities, with 7 focusing on the product businesses, 3 on the service businesses and 1 on the venture capital business. TCL employs 75,000 over 80 countries and regions, with 23 R&D and 21 manufacturing facilities across the globe.
TCL Corporation acquired Schneider's TV business (in 2002), Thomson's TV business (in 2004), Alcatel's mobile phone business (in 2004) and the right to use the Palm brand (in 2014).
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Marta Chen
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SOURCE TCL Corporation
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