公 司 点 评 报 告 主要财务指标 ＃研究助理： 刘珂瑞 liukerui@xyzq.com.cn assAuthor＃ 公 司 研 究 | --- | --- | |-------------------------------------------|------------| | ＃市场数据 marketData ＃ \n市场数据日期 | 2024-11-18 | | 收盘价（元） | 4.80 | | 总股本（百万股） | 18779.08 | | 流通股本（百万股） | | | | 18098.13 | | 净资产（百万元） | 53014.86 | | 总资产（百万元） | 393795.23 | | 每股净资产 ( 元 ) | 2.82 | ＃相关报告 relatedReport＃ 《【兴证电子】TCL 科技 2024 中 报点评：面板业务大幅改善，业 绩符合预期》2024-08-30 《【兴证电子】TCL 科技年报& 一季报点评：面板业务持续改 善，盈利能力稳步提升》2024- 05-16 《【兴证电子】TCL 科技 2023 中 报点评：面板业务格局稳定，业 绩符合预期》2023-08-3 ...

[Table_Profit] [Table_StockNameRptType] TCL 科技（000100） 公司覆盖 供需改善+份额提升，进入业绩收获期 | --- | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------|--------------------------------------------------------------------------------------------------------------------------------------------------- ...

%% %% 丨证券研究报告丨 公司研究丨点评报告丨 TCL 科技（000100.SZ） [Table_Title] 光伏业务触底，显示顺周期启动 | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------| | | | | 报告要点 | | | [Table_Summary] TCL 科技公布 2024 年第三季度报告，报告期内公司实现营业收入 1230.28 亿元，同比下降 | | | 7.57% ；归母净利润 15.25 亿元，同比下降 5.34% ；扣非归母净利润 7.29 亿元，同比增长 43.58% 。 单三季度收入 428.05 ，同比下降 10.75% ；归母净利润 5.30 亿元，同比下降 58.29% 。单季度 | ...

戏 / 电子设备 / 证券研 TCL科技（000100）2024年三季报点评 24Q3显示业务利润大幅改善,光伏行业 自律望促业务好转 2024 年 11 月 04 日 � � � � 25.74%；净利润 44.43 亿元，同比改善 60.67 亿元;(2) TCL 中环: 实现营业收入 225.82 亿元,同比下滑 53.6%,实现净利润-64.78 亿 元，经营性现金流净额 25.62 亿元。 显示业务方面：(1) 价格端：大尺寸 TV 面板价格预计在 10 月基本维 稳,中尺寸 IT 面板预计进入季度性下行趋势,手机面板价格稳中有 降；(2) 需求端：中国市场"以旧换新"补贴政策刺激大尺寸需求转 向强劲,海外市场备货旺季结束后趋于平稳:(3)供给端:面板厂稳 价需求强烈,控产依然是头部面板厂的核心策略,尤其是下调 IT 面 板稼动率以维稳保价。 市场份额提升,收购 LG 产线优化竞争格局。2024年前三季度，公司 【投资要点】 2024 年 10 月 30 日,TCL 科技公告 2024 年三季报,2024 年前三季度 公司实现营业收入 1231.32 亿元，同比下降 7.54%;实现归母净利润 15 ...

正做出投资决策在会议开始前我们提示各位投资者在主讲嘉宾发言结束后将留有提问时间接下来有请主讲嘉宾发言谢谢好的谢谢那么各位朋友大家下午好欢迎参加TCL科技2024年第三季度的议题交流会我是TCL科技的廖谦那么今天出席会议的公司管理层包括TCL科技的CFO李健女士 财务运营部部长丁春梅女士TCL华欣的CFO杨安民先生以及TCL华欣TVG商业事业部的负责人王秀义先生TCL中环COO兼CFO张长旭女士TCL中环光复材料BG负责人张海棠先生以及TCL中环副总经理董事会秘书秦世龙先生 各位都知道,我们在昨天晚上已经发布了我们第三季度的季报,那么在整个经济放缓、外部环境不确定的情况之下,公司主要产业还在加强局势的成本效率,聚焦提升竞争力,力争我们取得逆势的高质量发展。那么公司在两个主要板块中间的半导体显示业务方面, 自2023年Q3流回以来已经连续5个季度保持了比较稳健的利润也相应显示整个半导体显示行业的周期相较过去10年有了很大的变化那么从业务来看大尺寸在坚持整个理性的商业策略同时我们在坚定的引领电视面板的高端化趋势整体获利是稳重有增的 公司有两块还在成长的业务中小尺寸方面那么通过技术创新我们推动了OLED的产品高端化一 ...

证券时报网讯，证券时报•数据宝统计，两融数据来看，该股最新（10月31日）两融余额为37.53亿元， 其中，融资余额37.47亿元，较前一个交易日减少7278.28万元，环比下降1.91%，近3日累计增加1.16亿 元，环比增长3.20%。 龙虎榜数据显示，该股因连续三个交易日内，涨幅偏离值累计达20%、日涨幅偏离值达7%上榜龙虎榜1 次，买卖居前营业部中，深股通累计净买入2037.87万元，营业部席位合计净卖出8999.63万元。 ...

证券代码：000100 证券简称：TCL 科技 TCL 科技集团股份有限公司投资者关系活动记录表 编号：2024-006 | --- | --- | --- | |----------|-------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Financial Performance - Revenue for the third quarter of 2024 was RMB 42.80 billion, a decrease of 10.75% year-over-year[5] - Net profit attributable to shareholders for the third quarter was RMB 530.11 million, down 58.29% year-over-year[5] - Total operating income for the period was RMB 123.13 billion, a decrease of 7.5% compared to the previous period's RMB 133.17 billion[27] - Operating costs amounted to RMB 124.05 billion, down 3.8% from the previous period's RMB 129.01 billion[27] - Net profit for the period was a loss of RMB 1.83 billion, compared to a profit of RMB 5.57 billion in the previous period[28] - Basic earnings per share (EPS) were RMB 0.0821, down from RMB 0.0870 in the previous period[28] - Total comprehensive income was a loss of RMB 1.68 billion, compared to a profit of RMB 5.22 billion in the previous period[28] - Interest income increased by 81.3% to RMB 103.27 million from RMB 56.96 million in the previous period[27] - Financial expenses rose by 27.8% to RMB 3.41 billion from RMB 2.67 billion in the previous period[27] - Asset impairment losses increased by 45.6% to RMB 3.54 billion from RMB 2.43 billion in the previous period[27] - Other comprehensive income after tax was RMB 148.41 million, compared to a loss of RMB 350.45 million in the previous period[28] Semiconductor Display Business - Semiconductor display business revenue for the first three quarters reached RMB 76.96 billion, a 25.74% increase year-over-year[10] - Net profit for the semiconductor display business improved by RMB 6.07 billion year-over-year to RMB 4.44 billion in the first three quarters[10] - Semiconductor display business achieved revenue of 76.956 billion yuan, a year-on-year increase of 25.74%, with net profit of 4.443 billion yuan, a significant improvement of 6.067 billion yuan compared to the same period last year[11] - TCL CSOT's TV panel market share ranks second globally, with 65-inch and 75-inch panels holding the top global market share, and 65-inch and above products accounting for 55% of shipment area[12] - TCL CSOT plans to acquire 80% equity of LG Display (China) Co., Ltd. and 100% equity of LG Display (Guangzhou) Co., Ltd., aiming to enrich production line technology and deepen international customer cooperation[13] - TCL CSOT's flexible OLED smartphone panel shipments are steadily increasing, with a rising proportion of high-end products[13] TCL Zhonghuan Performance - TCL Zhonghuan's revenue for the first three quarters was RMB 22.58 billion, impacting TCL Tech's net profit by RMB -1.81 billion[10] - TCL Zhonghuan's revenue for the first three quarters of 2024 was 22.582 billion yuan, a year-on-year decrease of 53.6%, with a net loss of 6.478 billion yuan[14] - TCL Zhonghuan's photovoltaic monocrystalline production capacity increased to 190GW, with shipments of 94.86GW, a year-on-year increase of 11.4%, and a market share of 19.2%, ranking first in the industry[15] - N-type products achieved a monthly production lead of 505kg per unit and a lead of 1 more slice per kilogram compared to the industry's second-best[15] - TCL Zhonghuan has partnered with Saudi Arabia's PIF subsidiary RELC and Vision Industries to establish the largest overseas crystal wafer factory[15] - TCL Zhonghuan is focusing on cost efficiency and global strategy to enhance competitiveness during the industry's cyclical downturn[16] Assets and Liabilities - Total assets as of the end of the third quarter were RMB 393.80 billion, an increase of 2.86% compared to the end of the previous year[5] - Total assets increased to 393.8 billion yuan, up from 382.9 billion yuan at the beginning of the period[24][25][26] - Current assets rose to 115.8 billion yuan, compared to 102.3 billion yuan at the start of the period[24] - Non-current assets decreased slightly to 278.0 billion yuan from 280.6 billion yuan[25] - Total liabilities grew to 257.2 billion yuan, up from 237.6 billion yuan[25][26] - Current liabilities increased to 114.2 billion yuan, compared to 99.2 billion yuan[25] - Non-current liabilities rose to 142.9 billion yuan, up from 138.4 billion yuan[25] - Owner's equity decreased to 136.6 billion yuan from 145.3 billion yuan[26] - Inventory increased to 21.4 billion yuan, up from 18.5 billion yuan[24] - Accounts receivable grew to 23.5 billion yuan, compared to 22.0 billion yuan[24] - Short-term borrowings rose to 11.3 billion yuan, up from 8.5 billion yuan[25] - Short-term borrowings rose by 33.9% to RMB 11.35 billion, driven by optimization of debt cost structure[9] Cash Flow - Operating cash flow for the first three quarters was RMB 22.00 billion, a 36.28% increase year-over-year[5] - Sales of goods and services received cash of 123.37 billion yuan, an increase from 101.24 billion yuan in the previous period[30] - Net cash flow from operating activities increased to 22.00 billion yuan from 16.14 billion yuan[30] - Net cash flow from investing activities was -26.55 billion yuan, an improvement from -29.44 billion yuan in the previous period[30] - Net cash flow from financing activities was 6.85 billion yuan, slightly down from 7.66 billion yuan[31] - Cash and cash equivalents at the end of the period stood at 22.26 billion yuan, compared to 28.11 billion yuan at the beginning of the period[31] - Cash received from customers and deposits increased by 574.76 million yuan, compared to a decrease of 400.28 million yuan in the previous period[30] - Cash paid for goods and services was 88.06 billion yuan, up from 77.97 billion yuan[30] - Cash paid to employees increased to 9.18 billion yuan from 8.68 billion yuan[30] - Cash received from investments was 52.86 billion yuan, up from 36.41 billion yuan[30] - Cash paid for investments increased to 62.38 billion yuan from 46.04 billion yuan[30] Investments and Construction - Construction in progress increased by 57.0% to RMB 26.69 billion, mainly due to increased investment in semiconductor display production lines[9] - The total contract amount for forward foreign exchange contracts at the end of the period is 5,512,867 million yuan, accounting for 40.35% of the company's net assets[22] - The total contract amount for interest rate swaps at the end of the period is 308,838 million yuan, accounting for 2.26% of the company's net assets[22] - The total contract amount for hedging derivatives at the end of the period is 5,821,705 million yuan, accounting for 42.61% of the company's net assets[22] - The actual profit and loss from contract settlements during the reporting period is 152.96 million yuan[22] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 596,865[18] - Li Dongsheng holds 6.74% of the shares, totaling 1,265,347,805 shares[18] - Hong Kong Securities Clearing Company Limited holds 3.81% of the shares, totaling 715,658,083 shares[18] - Huizhou Investment Holding Co., Ltd. holds 2.85% of the shares, totaling 535,767,694 shares[18] - Wuhan Optics Valley Industry Investment Co., Ltd. holds 2.41% of the shares, totaling 452,866,342 shares[18] - China Securities Finance Corporation holds 2.19% of the shares, totaling 410,554,710 shares[18] Industry Outlook - The global display industry is expected to see improved profitability driven by trends such as large-size panels and AI, while the photovoltaic industry is poised for growth despite short-term competition[17] R&D and Expenses - R&D expenses decreased by 8.7% to RMB 6.58 billion from RMB 7.20 billion in the previous period[27]

财联社财经通讯社打开APP15:41:29【TCL科技：看好LCD未来较长时间内维持显示主流技术地位】财 联社10月28日电，TCL科技在互动平台表示，根据公司及市场机构研究，在当前显示绝大部分应用场景 中仍以LCD为绝对主流技术，公司看好未来较长时间内LCD都将维持显示主流技术地位。 TCL科技-0.67%互动平台精选财联社声明：文章内容仅供参考，不构成投资建议。 投资者据此操作，风险自担。 2024-10-28 15:41:2988946 阅读商务合作发送 ...

证券研究报告·公司点评报告·光学光电子 TCL 科技（000100） 2024 年中报点评：面板业务盈利大幅改善， 光伏业务静待修复 2024 年 09 月 02 日 买入（维持） | --- | --- | --- | --- | --- | --- | |------------------------------|---------|----------|----------|----------|----------| | 盈利预测与估值 [Table_EPS] | 2022A | 2023A | 2024E | 2025E | 2026E | | 营业总收入（百万元） | 166632 | 174446 | 192147 | 215950 | 236369 | | 同比（ % ） | 1.72 | 4.69 | 10.15 | 12.39 | 9.46 | | 归母净利润（百万元） | 261.32 | 2,214.93 | 4,718.98 | 6,687.33 | 8,844.42 | | 同比（ % ） | (97.40) | 747.60 | 113.05 | 41.71 | 32.26 | ...