Core Viewpoint - The company is expected to achieve a significant increase in net profit for the first half of 2025, with a forecasted range of approximately HKD 950 million to HKD 1.08 billion, reflecting a year-on-year growth of 45% to 65% [2]. Group 1: Performance Forecast - The midpoint of the profit forecast is HKD 1.015 billion, indicating a year-on-year increase of 55% [2]. - The company's stock incentive plan is highly likely to meet the performance target of HKD 2.008 billion for 2025, which represents a growth of over 25% compared to the adjusted net profit for 2024 [2]. Group 2: Growth Drivers - The company is entering a performance realization phase, driven by enhanced product competitiveness and a successful global mid-to-high-end strategy [3]. - The company has improved its supply chain and channel management, leading to better risk response capabilities [3]. - The first half of 2025 saw a significant improvement in core business scale and product/channel structure, with innovative businesses maintaining high growth [3]. Group 3: Product and Market Performance - The company's television segment, particularly Miniled TV, has seen a rapid increase in shipment proportion, indicating product structure optimization [3]. - In Q2 2025, global TV shipments reached 6.95 million units, a year-on-year increase of 4.1%, with domestic shipments at 1.4 million units (down 3.3%) and overseas shipments at 5.55 million units (up 6.2%) [3]. - The penetration rate of Miniled TVs has increased significantly, with approximately 820,000 units shipped globally in 2025, accounting for 11.8% of total shipments [3]. Group 4: Future Outlook - The company anticipates that the net profit margin for the second half of 2025 will accelerate due to ongoing domestic market support and the continued push for larger and Miniled TVs in overseas markets [3].
TCL电子(1070.HK)：业绩预告符合预期 MINILED出货迅速提升