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

SHENZHEN, China, Aug. 13, 2021 /PRNewswire/ -- TCL Technology Group Corporation ("TCL Technology", Stock Code 000100.SZ), a publicly listed company focusing on the semiconductor display and materials industry, has announced its interim results for the six months ("the reporting period") ended 30 June 2021.

During the reporting period, the company achieved operating income of around USD11.45 billion, a year-on-year increase of 153.3%; net profit was around USD1.426 billion, a 7.65 times increase year-on-year; net profit attributable to shareholders was around USD1.04 billion, a year-on-year increase of 461.5%. The company's two core industries, semiconductor displays and semiconductor photovoltaics, achieved significant growth over this period and the company's annual budget target has been surpassed.

Furthermore, TCL CSOT, TCL Technology's panel production subsidiary, achieved sales area of 17.792 million square meters with a year-on-year increase of 25.3%. The semiconductor display business of TCL CSOT achieved operating income of USD6.29 billion, a year-on-year increase of 93.6%; net profit was USD1.01 billion, a year-on-year increase of USD1.04 billion. In the second quarter of 2021, TCL CSOT achieved a net profit of USD649.15 million, a quarter-on-quarter increase of 76%. Through continuous expansion and optimization of product structure, TCL CSOT continued to increase its market share in various fields, including TV panels, interactive whiteboards, LTPS, etc.

Additionally, Zhonghuan Semiconductor, a subsidiary of TCL that focusing on semiconductors and new energy, also contributed to the Company's profit growth in the first half of 2021. Zhonghuan Semiconductor achieved operating income of USD2.7 billion, a year-on-year increase of 104.1%, and net profit of USD291.42 million, a year-on-year increase of 160.6%. During the reporting period, the photovoltaic industry has developed rapidly. Over this time Zhonghuan Semiconductor's accumulated technological advantages have emerged, the product structure has been transformed smoothly and the scale of production capacity has been continuously improved.

Looking ahead, TCL Technology will continue to optimize its business strategies focusing 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 boost competitiveness and lead the global industry.

About TCL

TCL empowers customers to enjoy more. With a lineup of award-winning televisions, audio products, mobile devices, and appliances, TCL takes pride in delivering meaningful experiences by combining thoughtful design and the latest technology. As one of the world's largest consumer electronics brands, our extensive manufacturing expertise, a vertically integrated supply chain, and state-of-the-art panel factory, helps TCL deliver innovation for all. For additional product information, please visit www.tcl.com for the full portfolio.

About TCL CSOT

TCL CSOT (TCL China Star Optoelectronics Technology Co., Ltd), is a company committed to developing new technologies and innovations in semiconductor display industry. TCL CSOT actively invests in future technologies such as Mini-LED, Micro-LED, OLED, and Ink-Jet Printing OLED. The company business includes large area display, small medium display and touch modules, interactive white boards, video walls, automotive displays, and gaming monitors, which contributes to the core competence in the global panel industry.

About Tianjin Zhonghuan Semiconductor

Zhonghuan Semiconductor takes new energy materials and semi-conductor materials as its dual main business to drive development, including the R&D, production and sales of semi-conductor wafers, semi-conductor devices, solar wafers and solar cell modules, as well as the construction and operation of photovoltaic power stations. On July 15, 2020, TCL acquired Zhonghuan Semi-conductor, achieving the significant presence and strategic reserve in the field of semi-conductors and new energy.

SOURCE TCL Group