TCL Electronics (01070.HK) Reports Significant Growth in Results for the First Three Quarters of 2026

Adjusted Profit Attributable to Owners of the Parent Surges 54.5% Year-on-Year to HK$2.24 Billion

Global Business Continues to Grow, with Strong Operating Performance in International Markets

Results Highlights

• TCL Electronics firmly implemented its dual-drive strategy of "Globalisation" and "Mid-to-High-End Premiumisation", achieving strong growth in operating performance. For the first three quarters of 2026, the Group recorded total revenue of HK$95.79 billion, representing a year-on-year increase of 15.7%. Adjusted profit attributable to owners of the parent increased by 54.5% year-on-year to HK$2.24 billion.
• Display Business: For the first three quarters of 2026, revenue from the Display Business increased by 19.1% year-on-year to HK$62.38 billion, while gross profit increased by 38.4% year-on-year to HK$11.51 billion. Further product mix optimisation in international markets continued to enhance profitability. In particular, international shipments of TCL Mini LED TVs recorded rapid year-on-year growth of 94.5%, driving a 4.4-percentage-point year-on-year increase in the gross profit margin of the Large-Sized Display business in international markets to 19.0%.
• Internet Business: For the first three quarters of 2026, revenue from the Internet Business increased by 28.2% year-on-year to HK$2.70 billion. The proportion of the higher-margin international internet business with its share of total Internet Business revenue increased to over 50%. This drove a 4.6-percentage-point year-on-year increase in the overall gross profit margin of the Internet Business to 60.9%, continuing to contribute high-quality earnings.
• Innovative Business: For the first three quarters of 2026, revenue from the Innovative Business increased by 8.5% year-on-year to HK$30.68 billion. Among its businesses, the Photovoltaic Business maintained resilient growth amid industry headwinds, with revenue increasing by 11.8% year-on-year to HK$18.18 billion.
• Strategic Development: The Company acquired the TCL air-conditioning business for a total consideration of HK$5.61 billion. The transaction was completed on 2 November 2026, and the acquired business was consolidated into the Company's financial statements, marking a significant step towards the comprehensive implementation of its "All-category Smart Device" strategy.

HONG KONG, Nov. 13, 2026 /PRNewswire/ -- TCL Electronics Holdings Limited ("TCL Electronics" or the "Company", 01070.HK) today announced its unaudited results for the first three quarters of 2026, covering the nine months ended 30 September 2026. During the reporting period, the Company firmly implemented its dual-drive strategy of "Globalisation" and "Mid-to-High-End Premiumisation" and actively deepened cooperation with global channels, achieving strong growth in operating performance. For the first three quarters of 2026, the Company recorded total revenue of HK$95.79 billion, representing a year-on-year increase of 15.7%. Gross profit increased by 29.5% year-on-year to HK$16.26 billion, while gross profit margin increased by 1.8 percentage points year-on-year to 17.0%. The overall expense^[1] ratio was 11.9%. Driven by both improved operating efficiency and the realisation of economies of scale, adjusted profit attributable to owners of the parent increased by 54.5% year-on-year to HK$2.24 billion.

In terms of strategic development, the Company continued to advance industrial synergies, the integration of core assets and the optimisation of its business structure. On 31 March 2026 (after trading hours), the Company entered into a transaction framework agreement with Sony in relation to the home entertainment business. The two parties proposed to establish a joint venture to jointly build a new global home entertainment ecosystem, providing important strategic support for the expansion into the mid-to-high-end market. In addition, on 15 July 2026 (after trading hours), the Company announced its proposed acquisition of the TCL air-conditioning business for a total consideration of HK$5.61 billion. The transaction was completed on 2 November 2026, and the relevant business has been consolidated into the Company's financial statements since the completion date, laying an important foundation for the Company to comprehensively implement its "All-category Smart Device" strategy. On 24 August 2026, the Company announced that it was considering the spin-off and separate listing of its photovoltaic business through a distribution in specie. The Company will comprehensively and prudently evaluate the various impacts of implementing this proposal from the perspective of maximising the interests of all shareholders. Looking ahead to the full year of 2026, the Company is confident that it will achieve sustained and steady growth through firm execution of its strategies.

Continued Enhancement of Global Brand Strength, with Significant Improvements in Profitability of Mid-to-High-End and Large-Sized TVs in International Markets

Underpinned by continued enhancement of its global brand strength, efficient channel expansion and ongoing product mix optimisation, the Company's Display Business recorded revenue of HK$62.38 billion, representing a year-on-year increase of 19.1%, and gross profit of HK$11.51 billion, representing a year-on-year increase of 38.4%. Gross profit margin increased by 2.6 percentage points year-on-year to 18.5%. Benefitting from the continued increase in the proportion of mid-to-high-end and large-sized TVs, revenue from the TCL TV business increased by 16.7% year-on-year to HK$52.03 billion, while gross profit margin increased by 3.2 percentage points year-on-year to 19.5%.

TCL Mini LED TVs maintained rapid growth for the first three quarters of 2026, with global shipments increasing by 57.9% year-on-year and their share of total shipments rising by 6.1 percentage points year-on-year to 17.5%. In particular, shipments in international markets increased by 94.5% year-on-year, driving a 4.4-percentage-point year-on-year increase in the gross profit margin of the TV business in international markets to 19.0%. The Company continued to expand its global channel footprint and deepen the development of key channels. These efforts helped TCL TV rank among the top three globally in sales revenue, maintain its second-place ranking globally in shipment volume, and retain its position as the world's No. 1 brand in TCL Mini LED TV shipments^[2]. TCL X11L SQD-Mini LED TV was named one of TIME magazine's "Best Inventions of 2026" in the United States, making it the only Chinese television product selected in this category and further demonstrating the Company's leading position in premium display technology.

In the Small-and-Medium-Sized Display business, the Company adhered to the strategy of "prioritising efficiency and focusing on key markets" and continued to deepen its presence in key channels in Europe and the United States. Leveraging differentiated products such as NXTPAPER eye-care display technology, the business achieved growth against the market trend, with both revenue and gross profit outperforming the industry as a whole. For the first three quarters of 2026, revenue from the Small-and-Medium-Sized Display business increased by 32.2% year-on-year to HK$9.32 billion.

International Internet Business Contributes to High-Quality Earnings, While Photovoltaic Business Achieves Substantive Progress in the European Market

During the Reporting Period, the Company's Internet Business recorded revenue of HK$2.70 billion, representing a year-on-year increase of 28.2%. Among its businesses, the expansion of the higher-margin international internet business continued to accelerate, with its share of Internet Business revenue increasing by 17.0 percentage points year-on-year. This drove a 4.6-percentage-point year-on-year increase in the overall gross profit margin of the Internet Business to 60.9%, continuing to contribute high-quality earnings. In international markets, leveraging its scale advantages, the Company continued to deepen cooperation with internet giants such as Google, Roku and Netflix. The content application TCL Channel continued to undergo iterative upgrades in terms of content richness, user experience and monetisation efficiency. As at the end of September 2026, TCL Channel had a cumulative user base of 56.99 million.

In the Innovative Business, for the first three quarters of 2026, the Company recorded revenue of HK$30.68 billion, representing a year-on-year increase of 8.5%. Among its businesses, the Photovoltaic Business maintained resilient growth amid industry headwinds, with revenue increasing by 11.8% year-on-year to HK$18.18 billion. The business focused on key countries in Europe in international markets and made substantive progress in advancing integrated energy solutions combining photovoltaics, energy storage and heating, leveraging the brand influence of SunPower.

For the first three quarters of 2026, the Company continued to promote the synergistic development of its All-Category Marketing business and improve the layout of its smart device product portfolio. Revenue increased by 3.3% year-on-year to HK$10.95 billion. Meanwhile, in August 2026, the Company launched TCL AiMe, an AI companion and caregiving robot, further enriching its all-scenario smart ecosystem and opening up new growth opportunities in the emerging consumer electronics sector.

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About TCL Electronics

TCL Electronics Holdings Limited (01070.HK, incorporated in the Cayman Islands with limited liability) has been listed on the Main Board of The Stock Exchange of Hong Kong Limited since November 1999. Its business scope covers display business, innovative business, and internet business. Guided by the business philosophy of "Strategy Guidance, Innovation Driven, Advanced Manufacturing and Global Operation", TCL Electronics actively embraces transformation and innovation and focuses on breaking into the mid-to high-end global market, and strives for an all-category layout for the "Smart IoT Ecosystem". Dedicated to providing users with all-scenario smart healthy living experiences, TCL Electronics aims to become a leading global intelligent terminal enterprise. TCL Electronics is included in the list of eligible shares for the Shenzhen-Hong Kong Stock Connect. It is a constituent stock of the Hang Seng Stock Connect Hong Kong Index, the Hang Seng Composite LargeCap & MidCap Index, the Hang Seng Composite MidCap Index and the "Hang Seng SCHK Electronics Theme Index". Since 2018, the Company has been awarded an ESG rating of A by Hang Seng Indexes Company for several consecutive years.

 For more information, please visit TCL Electronics' investor relations website at http://electronics.tcl.com.