TCL TECH.(SZ:000100) WitsView睿智显示·2026-01-13 11:18Core Viewpoint - TCL Technology expects a significant increase in net profit for 2025, projecting a range of 4.21 billion to 4.55 billion yuan, representing a year-on-year growth of 169% to 191% [1][2]. Financial Performance - The projected net profit for 2025 is between 4.21 billion and 4.55 billion yuan, compared to 1.564 billion yuan in the previous year, indicating an increase of 169% to 191% [2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses is expected to be between 2.89 billion and 3.2 billion yuan, up from 298 million yuan last year, reflecting a growth of 869% to 973% [2]. - Basic earnings per share are projected to be between 0.2174 yuan and 0.2350 yuan, compared to 0.0842 yuan per share in the previous year [2]. Business Operations - TCL Huaxing's operating revenue surpassed 100 billion yuan, with net profit exceeding 8 billion yuan and net operating cash flow exceeding 40 billion yuan, indicating high-quality growth [2]. - The company maintains a competitive advantage in large-size products such as TVs and commercial displays, while also experiencing rapid growth in the small and medium-size product sector [2]. - TCL completed the acquisition of 100% of the shares of the former LG Display (China) Co., Ltd., enhancing its capacity layout for large and medium-size LCD panels [2]. - The company also acquired a minority stake in Shenzhen Huaxing Optoelectronics Semiconductor Display Technology Co., Ltd., which is expected to boost the profit attributable to shareholders [2]. - Expansion of the G5.5 generation printed OLED production line and the establishment of the world's first high-generation printed OLED production line are underway, laying the foundation for future display technology upgrades [2]. Industry Position - The panel industry continues to see strong performance, with companies like Zhonghuan leading with over 5.7 billion yuan in revenue, maintaining the top position in domestic shipments [3]. - Miao Jia Technology is expanding its leading advantage, solidifying its position in TV OEM business and experiencing rapid growth in the display and gaming monitor OEM sectors, significantly enhancing profitability [3].