TCL科技年内176亿收购强化主业 华星半导体估值562亿半年赚17亿

Core Viewpoint - TCL Technology is significantly increasing its stake in Huaxing Semiconductor by investing over 6 billion yuan to acquire an additional 10.77% equity, raising its total ownership to 94.98% [2][3]. Group 1: Acquisition Details - The recent acquisition involves TCL Technology's subsidiary TCL Huaxing, which will pay 60.45 billion yuan for the additional stake in Huaxing Semiconductor [2][3]. - This marks the second acquisition by TCL Technology in 2025, following a previous purchase of 21.53% equity for approximately 115.62 billion yuan in July [2][3][4]. - The total investment in Huaxing Semiconductor for 2025 now amounts to about 176.07 billion yuan, securing a total of 32.3% equity [2][3]. Group 2: Financial Performance and Valuation - Huaxing Semiconductor is currently valued at approximately 562 billion yuan, with a profit of around 17 billion yuan for the first half of 2025 [2][6]. - The company's total assets were reported at 680.40 billion yuan and net assets at 448.50 billion yuan by the end of 2024 [6]. - For the first half of 2025, Huaxing Semiconductor achieved revenues of 120.23 billion yuan, which is about half of its total revenue for 2024 [6]. Group 3: Strategic Importance - TCL Technology aims to enhance its core competitiveness in the semiconductor display industry through this acquisition, reinforcing its leading position [2][5]. - The company anticipates that the increased stake will improve profitability and allow shareholders to benefit more from Huaxing Semiconductor's economic performance [5]. - The semiconductor display industry is experiencing a positive transformation, with a healthy supply-demand relationship and rising prices for mainstream products like television panels [5]. Group 4: Business Focus - TCL Technology's operations are primarily concentrated in three sectors: semiconductor displays, new energy photovoltaics, and semiconductor materials [7]. - The company has made substantial investments in the display business, including over 10 billion yuan for acquiring stakes in LG Display and its affiliates [8]. - In the first three quarters of 2025, TCL Technology reported revenues of approximately 135.9 billion yuan, reflecting a year-on-year growth of 10.50% [8].