TCL TECH.(000100)2023-05-12 16:00Financial Performance - Revenue for Q1 2023 was RMB 39.44 billion, a decrease of 2.77% year-on-year[8] - Net profit attributable to shareholders was -RMB 548.99 million, a decline of 140.59% year-on-year[8] - Total revenue for the first quarter of 2023 was RMB 39.47 billion, a decrease from RMB 40.60 billion in the previous period[36] - Operating profit for the first quarter of 2023 was RMB 43.62 million, significantly lower than RMB 1.86 billion in the previous period[36] - Gross profit for the first quarter of 2023 was RMB 50,507,103, compared to RMB 2,435,650,322 in the previous period[37] - Net profit attributable to owners of the parent company was RMB -548,999,154, a significant decrease from RMB 1,352,533,125 in the previous period[37] - Total comprehensive income for the first quarter of 2023 was RMB 137,204,829, compared to RMB 2,453,561,296 in the previous period[37] - Basic earnings per share were RMB -0.0326, down from RMB 0.1008 in the previous period[37] Cash Flow and Financial Position - Net cash generated from operating activities increased by 16.34% to RMB 4.50 billion[8] - Net cash generated from operating activities was RMB 4,495,356,538, up from RMB 3,863,953,881 in the previous period[39] - Net cash used in investing activities was RMB -5,200,472,661, an improvement from RMB -12,591,690,089 in the previous period[40] - Net increase in cash and cash equivalents was RMB 2,431,666,015, a significant improvement from RMB -4,141,591,296 in the previous period[40] - Proceeds from disinvestments were RMB 15,215,716,206, up from RMB 9,653,344,653 in the previous period[39] - Cash paid for distribution of dividends and profits was RMB 8,748,893,383, compared to RMB 1,111,330,624 in the previous period[40] - Ending balance of cash and cash equivalents was RMB 36,107,290,306, up from RMB 25,940,113,568 in the previous period[40] - Total current assets increased to RMB 100.56 billion from RMB 95.49 billion at the beginning of the period[33] - Total non-current assets rose to RMB 278.83 billion from RMB 264.50 billion at the beginning of the period[33] - Total liabilities increased to RMB 241.44 billion from RMB 227.86 billion at the beginning of the period[34] - Long-term borrowings grew to RMB 128.77 billion from RMB 118.60 billion at the beginning of the period[34] - Accounts receivable increased to RMB 15.73 billion from RMB 14.05 billion at the beginning of the period[33] - Inventories rose to RMB 18.67 billion from RMB 18.00 billion at the beginning of the period[33] - Fixed assets increased to RMB 144.92 billion from RMB 132.48 billion at the beginning of the period[33] Semiconductor Display Business - Semiconductor display business revenue declined by 24.5% year-on-year to RMB 15.12 billion[15] - TCL CSOT sold 11.32 million square meters of display panels, up 0.7% year-on-year[15] - The Company ranked No.1 in MNT e-sports displays and No.2 in LTPS tablets and LTPS laptops by global market share[16] - More than 45% of the shipment area of TV products are above 65-inch[16] - The Company secured its top 2 position in TV panels, ranking No.1 in both 55-inch and 75-inch products[16] TCL Zhonghuan Performance - TCL Zhonghuan recorded revenue of RMB 17.62 billion, an increase of 31.8% year-on-year[19] - TCL Zhonghuan's net profit increased by 69.2% year-on-year to RMB 2.46 billion[19] - TCL Zhonghuan's total monocrystalline silicon capacity reached 150GW at the end of the reporting period[20] - The company's production utilization rate increased sharply month-over-month[20] - TCL Zhonghuan built an intelligent plant for 25GW N-type TOPCON batteries[20] Shareholder Information - Li Dongsheng and his acting-in-concert party hold 1,159,085,019 shares, making them the largest shareholder[25] - Huizhou Investment Holding Co., Ltd. and its acting-in-concert party decreased their shareholdings by 66,500,000 shares[25] - Wuhan Optical Valley Industrial Investment Co., Ltd. decreased its shareholdings by 280,620,000 shares[25] Hedging and Financial Instruments - The company's forward forex contracts had an ending contractual amount of RMB2,539,419, representing 18.41% of the company's ending net assets[29] - The company's interest rate swaps had an ending contractual amount of RMB373,303, representing 2.71% of the company's ending net assets[29] - Profit from change in fair value of hedged items was RMB58.25 million during the reporting period[29] - Profit from settlement of maturing forward exchange contracts was RMB34.02 million during the reporting period[29] Research and Development - R&D expenses increased to RMB 2.59 billion in the first quarter of 2023, up from RMB 2.04 billion in the previous period[36]