Market Overview - The demand for televisions is increasing as living standards improve, with Mini LED TVs becoming a popular choice due to their excellent picture quality. In 2024, the sales volume of Mini LED TVs in China is expected to reach 5.56 million units, accounting for 18.0% of the overall TV market, representing a 15 percentage point increase from the previous year. Predictions indicate that by 2025, the shipment of Mini LED products will grow to 9 million units, a 50% increase [1]. Screen Quality - TCL T7L Pro features a native contrast ratio of 7000:1, which is five times that of standard IPS screens, and has a low reflection rate of 1.8%, significantly reducing environmental light interference [3][6]. - Hisense's small ink E5Q Pro has not disclosed its contrast ratio but offers different screen configurations for various sizes, with the 100-inch version matching TCL's reflection rate, while smaller sizes have higher reflection rates [5][6]. Backlight Partitioning - TCL T7L Pro has 840 local dimming zones, while Hisense small ink E5Q Pro boasts 1248 zones. However, the effectiveness of picture quality is not solely determined by the number of zones, as excessive zones can lead to diminishing returns and halo effects [7][9]. Color and Brightness - Both models claim to cover 98% of the DCI-P3 color space, but TCL T7L Pro utilizes advanced quantum dot technology for better color stability and longevity, ensuring no color fading over time [11]. - TCL T7L Pro achieves a peak brightness of 2200 nits, providing a more realistic representation of high-light details compared to Hisense small ink E5Q Pro, which also claims 2200 nits but does not maintain brightness as effectively [13]. Picture Quality Chip - Hisense small ink E5Q Pro is equipped with an AI picture quality chip that enhances image parameters, while TCL T7L Pro features a dual-enhancement TSR AI chip that significantly improves the quality of lower-resolution content [14][16]. Smart System - TCL T7L Pro runs on a user-friendly system without startup ads, allowing direct access to content, while Hisense small ink E5Q Pro retains startup ads and has a more traditional interface [17][19]. Audio Experience - Hisense small ink E5Q Pro features a high-end sound system from Devialet, providing powerful bass and clear highs, while TCL T7L Pro uses Onkyo Hi-Fi sound, creating a 360-degree surround sound experience [20][22].

Group 1 - The China-Hong Kong-Macao Greater Bay Area Development Theme Index (931000) decreased by 0.59% as of May 27, 2025, with mixed performance among constituent stocks [1] - The Greater Bay Area ETF (512970) rose by 0.08%, with a one-month cumulative increase of 2.41% and a five-year net value increase of 16.76% as of May 26, 2025 [2] - The ETF has achieved a maximum monthly return of 21.99% since its inception, with an average monthly return of 5.28% [2] Group 2 - The central government emphasizes the orderly development of strategic emerging industries and future industries, aiming to enhance the resilience and safety of industrial supply chains [2] - High-end manufacturing and modern service industries are identified as key sectors in the Greater Bay Area, with potential for leading enterprises to emerge [3] - The economic growth of the Greater Bay Area is expected to be driven by advanced manufacturing and modern services, particularly in fields like big data, semiconductors, cloud computing, and biomedicine [3] Group 3 - The National Enterprise Win-Win ETF (159719) showed mixed performance, with a recent price of 1.5 yuan and a two-week cumulative increase of 0.67% as of May 26, 2025 [5] - The ETF has achieved a net value increase of 43.39% over the past three years, ranking 76 out of 1769 index stock funds [6] - The ETF closely tracks the FTSE China National Enterprises Open Win-Win Index, which reflects the performance of Chinese state-owned enterprises listed in mainland China and Hong Kong [6] Group 4 - The top ten weighted stocks in the Greater Bay Area Development Theme Index account for 53.26% of the index, with companies like BYD (002594) and Ping An Insurance (601318) among the leaders [9] - The performance of major stocks in the index varies, with BYD showing a decline of 2.09% and China Mobile (601728) increasing by 0.76% [11]

证券代码:000100 证券简称: TCL 科技 上市地:深圳证券交易所 TCL 科技集团股份有限公司 发行股份及支付现金购买资产 并募集配套资金报告书(草案) (上会稿) | 项目 | 交易对方 | | --- | --- | | 发行股份及支付现金购买资产 | 深圳市重大产业发展一期基金有限公司 | | 募集配套资金 | 不超过 35 名(含)符合条件的特定对象 | 独立财务顾问 二〇二五年五月 声明 一、上市公司声明 本公司及全体董事、监事、高级管理人员保证本报告书及其摘要内容的真实、 准确、完整,保证不存在虚假记载、误导性陈述或重大遗漏,并对其内容的真实 性、准确性、完整性承担个别和连带的法律责任。 本公司第一大股东及其一致行动人、全体董事、监事、高级管理人员承诺, 如本次交易所提供或披露的信息涉嫌虚假记载、误导性陈述或者重大遗漏,被司 法机关立案侦查或者被中国证监会立案调查的,在形成调查结论以前,不转让在 上市公司拥有权益的股份,并于收到立案稽查通知的两个交易目内将暂停转让的 书面申请和股票账户提交上市公司董事会,由上市公司董事会代其向证券交易所 和证券登记结算机构申请锁定;未在两个交易日内提交锁定 ...

证券代码: 000100 证券简称: TCL 科技 上市地:深圳证券交易所 TCL 科技集团股份有限公司 发行股份及支付现金购买资产 并募集配套资金报告书(草案) 摘要 (上会稿) | 项目 | 交易对方 | | --- | --- | | 发行股份及支付现金购买资产 | 深圳市重大产业发展一期基金有限公司 | | 募集配套资金 | 不超过 35 名(含)符合条件的特定对象 | 独立财务顾问 "1、本公司将依据相关法律、法规、规章、中国证券监督管理委员会和深 圳证券交易所的有关规定向 TCL 科技及相关中介机构及时提供本次交易相关信 息、文件和资料(包括但不限于原始书面材料及复印件、电子版资料等,下同)。 声明 一、上市公司声明 本公司及全体董事、监事、高级管理人员保证重组报告书及其摘要内容的真 实、准确、完整,保证不存在虚假记载、误导性陈述或重大遗漏,并对其内容的 真实性、准确性、完整性承担个别和连带的法律责任。 本公司第一大股东及其一致行动人、全体董事、监事、高级管理人员承诺, 如本次交易所提供或披露的信息涉嫌虚假记载、误导性陈述或者重大遗漏,被司 法机关立案侦查或者被中国证监会立案调查的,在形成调查结论 ...

申万宏源证券承销保荐有限责任公司 关于 TCL 科技集团股份有限公司 发行股份及支付现金购买资产并募集配套资金 之 独立财务顾问报告 (上会稿) 独立财务顾问 o azart spend production and the see and the see and the see and the see and the see and the see of the consisted to the | 日末 . | | --- | | 独立财务顾问声明与承诺 | | 一、独立财务顾问声明 . | | 二、独立财务顾问承诺 . | | 释义 … | | 一、一般术语 . | | 二、专业术语………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………… 10 | | 重大事项提示 . | | 一、本次重组方案简要介绍 | | 二、募集配套资金简要介绍 . | | 三、本次交易对上市公司的影响 . | | 四、本次交易已履行和尚需履行的审批程序 | | 五、上市公司主要股东关于本次重 ...

TCL 科技集团股份有限公司及董事会全体成员保证公告内容的真实、准确 和完整，没有虚假记载、误导性陈述或者重大遗漏。 TCL 科技集团股份有限公司（以下简称"公司"）拟通过发行股份及支付现 金的方式购买深圳市重大产业发展一期基金有限公司持有的深圳市华星光电半 导体显示技术有限公司 21.5311%股权，并拟向不超过 35 名（含）符合条件的特 定对象发行股份募集配套资金（以下简称"本次交易"）。 证券代码：000100 证券简称：TCL 科技 公告编号：2025-047 TCL 科技集团股份有限公司 关于深圳证券交易所审核公司发行股份及支付现金购买资产并 募集配套资金事项会议安排的公告 TCL 科技集团股份有限公司 董事会 2025 年 5 月 26 日 根据深圳证券交易所有关工作安排，深圳证券交易所并购重组审核委员会拟 于近期审核公司本次交易事项，具体会议时间待确定后另行公告。 本次交易尚需通过深圳证券交易所审核并取得中国证券监督管理委员会同 意注册的批复，最终能否通过审核、取得注册，以及最终通过审核、取得注册的 时间仍存在不确定性。公司将根据该事项的进展情况，按照有关法律法规的规定 和要求及时履行信息披露 ...

证券代码：000100 证券简称：TCL 科技 公告编号：2025-048 TCL 科技集团股份有限公司 发行股份及支付现金购买资产并募集配套资金报告书（草案） （上会稿）修订说明的公告 TCL 科技集团股份有限公司及董事会全体成员保证公告内容的真实、准确 和完整，没有虚假记载、误导性陈述或者重大遗漏。 TCL 科技集团股份有限公司（以下简称"公司"）拟发行股份及支付现金购买 深圳市重大产业发展一期基金有限公司（以下简称"交易对方"）持有的深圳市华 星光电半导体显示技术有限公司 21.5311%股权，并拟向不超过 35 名（含）符合 条件的特定对象发行股份募集配套资金（以下简称"本次交易"）。 近日，公司会同中介机构根据相关要求对 2025 年 5 月 24 日披露的《TCL 科 技集团股份有限公司发行股份及支付现金购买资产并募集配套资金报告书（草案） 2025 年 5 月 26 日 （修订稿）》（以下简称"重组报告书"）等相关信息披露文件进行了修订、补充及 完善，形成了《TCL 科技集团股份有限公司发行股份及支付现金购买资产并募集 配套资金报告书（草案）（上会稿）》。 本次补充和修订的主要内容如下（如无特别 ...

TCL科技：深交所并购重组审核委员会拟于近期审核公司本次交易事项 智通财经5月26日电，TCL科技(000100.SZ)公告称，公司拟通过发行股份及支付现金的方式购买深圳市 重大产业发展一期基金有限公司持有的深圳市华星光电半导体显示技术有限公司21.5311%股权，并拟 向不超过35名（含）符合条件的特定对象发行股份募集配套资金。深交所并购重组审核委员会拟于近期 审核公司本次交易事项，具体会议时间待确定后另行公告。本次交易尚需通过深交所审核并取得中国证 券监督管理委员会同意注册的批复，最终能否通过审核、取得注册，以及最终通过审核、取得注册的时 间仍存在不确定性。 ...

Core Insights - Xiaomi's first SUV YU7, featuring a display solution exclusively supplied by TCL Huaxing, was officially unveiled on May 22 [1] - The collaboration between Xiaomi and TCL Huaxing marks a significant achievement in the smart automotive sector, with the display solution including a 16.1-inch central control screen and three 11.98-inch panoramic screens [1] Group 1: Technological Advancements - The panoramic display technology represents an evolution of HUD technology, covering the lower area of the windshield from one A-pillar to the other, utilizing ultra-short throw projection for large-area, high-precision display [4] - Unlike traditional instrument panels, the panoramic display projects information onto a designated black area at the bottom of the windshield, reducing optical reflection errors and enhancing clarity and stability [6] - The integration of Mini LED backlight technology ensures clear image visibility even in bright conditions, providing accurate information reading for passengers and enhancing driving safety and user experience [6] Group 2: Strategic Collaboration - The partnership between TCL Huaxing and Xiaomi began in 2020 with the supply of screens for the Xiaomi 10 series, leading to a formal joint laboratory agreement in August 2021 to focus on cutting-edge semiconductor display technology research [7] - The mass production application of the panoramic display is a result of their collaborative research on advanced semiconductor display technologies [7] - As the first domestic supplier to achieve commercial mass production of panoramic displays, TCL Huaxing aims to deepen technical cooperation with strategic partners like Xiaomi to advance smart cockpit display systems in optical performance, reliability, and human-machine interaction [7]

Core Viewpoint - The meeting highlighted the challenges faced by international trade and economic order, emphasizing the need for proactive measures to stabilize the economy and maintain trade resilience [1] Group 1: Economic Challenges - The international economic and trade order is experiencing severe shocks, leading to increased fragmentation of supply chains and rising trade barriers [1] - These challenges are significantly impacting economic development across countries [1] Group 2: Policy Responses - In response to external shocks, the government is enhancing macroeconomic policy adjustments, implementing more proactive fiscal policies, and adopting moderately loose monetary policies [1] - The economy has shown signs of recovery this year, particularly in foreign trade, which has maintained strong resilience [1] Group 3: Future Measures - The government is preparing to introduce measures to stabilize employment and the economy, while also researching new policy tools, including unconventional measures, to be deployed as needed based on changing circumstances [1] - There is confidence in the ability to sustain positive economic momentum [1]