TCL TECH.(SZ:000100) 2 1 Shi Ji Jing Ji Bao Dao·2025-12-27 10:05Core Viewpoint - Tijuana, located on the US-Mexico border, is emerging as a critical hub for global manufacturing and trade, particularly for electronics, automotive, and medical devices, as companies like TCL expand their production bases in response to global supply chain restructuring [2][3] Group 1: Globalization and Business Strategy - TCL's approach to globalization is not merely market expansion but involves a long-term strategy focused on industrial capabilities and organizational structure, with a systematic upgrade of its global operations [3] - The company aims to establish five regional centers globally, enhancing local production, assembly, and supply chains to increase brand influence and business value [3] - TCL's overseas sales now account for 60% of its smart terminal business, highlighting the importance of international markets for revenue and profit growth [3] Group 2: Challenges and New Cycles - The current global landscape presents two overlapping challenges: a new cycle in global economic and trade patterns and a technological transformation cycle [5] - The shift towards localization and regionalization in global trade is creating both opportunities and challenges for Chinese enterprises, including TCL [5] - The rise of artificial intelligence and green development is reshaping business models and necessitating a focus on sustainability for Chinese companies [5][9] Group 3: Industrial Capability and Local Integration - The logic of overseas expansion is shifting from mere production to collaborative capability building, emphasizing the construction of supply chains and R&D capabilities [6] - TCL's strategy includes establishing local supply chains and manufacturing bases, as seen in its operations in Vietnam and Poland, which integrate local resources and talent [6][7] - The MOKA factory in Tijuana has evolved from a production facility to a key player in the local industrial ecosystem, enhancing its profitability and operational capacity [7] Group 4: New Trade Ecosystem - The global manufacturing system is characterized by interdependent relationships among industries and economies, which are being reshaped by recent trade dynamics [10] - Chinese companies, including TCL, are playing a crucial role in developing new trade ecosystems in countries like Mexico and Vietnam, enhancing their competitiveness in the global market [10][11] - The expansion of Chinese enterprises into international markets is driven by domestic pressures and the need to compete with multinational corporations [11][12] Group 5: Future Outlook - Participation in international competition is essential for Chinese companies to overcome growth limitations and achieve global leadership [12] - The ongoing evolution of globalization is complex and decentralized, requiring companies to focus on capabilities, organization, and resilience in their international strategies [12]