1月13日晚，TCL科技集团股份有限公司(以下简称"TCL科技")发布2025年度业绩预告。其预计全年实现 归属于上市公司股东净利润42.1亿元-45.5亿元，同比上升169%-191%；扣除非经常性损益后归属于上市 公司股东的净利润28.9亿元-32.0亿元，同比显著上升869%-973%，盈利能力强劲。 与此同时，TCL华星G5.5代印刷OLED产线(t12)扩建及全球首条高世代印刷OLED产线(t8)建设项目的推 进，标志着公司在下一代显示技术商业化道路上迈出了重要一步。 新能源光伏和半导体材料业务领域，报告期内，中环领先巩固半导体材料领域国内领先地位，全年实现 营业收入超57亿元，营收及出货量继续稳居国内第一；受光伏产业链各环节过剩影响，TCL中环正经历 光伏产业的剧烈波动，公司正通过坚持产品技术创新和全球化战略，推进组织变革，改善盈利能力。 此外，报告期内茂佳科技TV代工业务地位保持行业领先，显示器代工业务高速成长，并通过拓展高附 加值产品领域，实现了盈利能力的显著增强。公司其他业务板块经营稳健，继续贡献收益。 综合来看，TCL科技2025年凭借核心业务的强劲动能与前瞻性的产业布局，保持了业绩的稳健 ...

Core Viewpoint - TCL Technology Group expects a year-on-year increase in performance for the fiscal year 2025, focusing on sustainable high-quality development in its core businesses of semiconductor displays, new energy photovoltaics, and semiconductor materials [2][4]. Group 1: Performance Forecast - The performance forecast period is from January 1, 2025, to December 31, 2025, with anticipated growth compared to the previous year [2]. - The company has communicated with its auditing firm regarding the performance forecast, and there are no discrepancies in the data content as of now [3]. Group 2: Reasons for Performance Changes - TCL Huaxing is implementing a leading strategy, achieving over 100 billion yuan in revenue and exceeding 8 billion yuan in net profit, with operating cash flow exceeding 40 billion yuan, indicating high-quality growth [4]. - The company completed the acquisition of 100% of LG Display (China) Co., Ltd., enhancing its capacity layout for large and medium-sized LCD panels [4]. - TCL Zhonghuan achieved over 5.7 billion yuan in revenue, maintaining its leading position in the domestic semiconductor materials sector [4]. Group 3: Business Operations - The company is experiencing significant fluctuations in the photovoltaic industry but is committed to innovation and global strategies to improve profitability [5]. - The TV OEM business has solidified its industry-leading position, while the display OEM business is growing rapidly, expanding into high-value-added product areas [5]. - Other business segments are performing steadily and continue to contribute to overall revenue [6].

Core Viewpoint - TCL Technology (000100.SZ) announced a profit forecast for 2025, expecting net profit attributable to shareholders to be between 4.21 billion and 4.55 billion yuan, representing a year-on-year increase of 169% to 191% [1][7]. 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% [3][9]. - The net profit 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 an increase of 869% to 973% [3][9]. - 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 [3][9]. Business Strategy and Operations - The company focuses on three core areas: semiconductor displays, new energy photovoltaics, and semiconductor materials, aiming for sustainable high-quality development [3][9]. - TCL Huaxing is committed to a leading strategy, achieving a revenue of over 100 billion yuan and a net profit exceeding 8 billion yuan, with a net operating cash flow of over 40 billion yuan [3][9]. - The company maintains a competitive advantage in large-size products like TVs and commercial displays, while also rapidly growing in the small and medium-size product sectors [4][10]. Acquisitions and Expansions - The company 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 [4][10]. - TCL Huaxing is expanding its G5.5 generation printed OLED production line and building the world's first high-generation printed OLED production line, which will support future display technology upgrades [4][10]. Market Position - TCL Zhonghuan achieved over 5.7 billion yuan in revenue, maintaining its position as the leading domestic player in the semiconductor materials sector [4][10]. - The company is navigating significant fluctuations in the photovoltaic industry due to oversupply across various segments, focusing on product innovation and global strategies to improve profitability [4][10].

1月13日晚，TCL科技集团股份有限公司（以下简称"TCL科技"）发布2025年度业绩预告。其预计全年 实现归属于上市公司股东净利润42.1亿元-45.5亿元，同比上升169%-191%；扣除非经常性损益后归属于 上市公司股东的净利润28.9亿元-32.0亿元，同比显著上升869%-973%，盈利能力强劲。 报告期内，TCL华星坚持"领先战略"，通过深化产品结构改革和技术创新，实现营业收入突破1000亿 元，净利润超80亿元，经营性现金流净额超400亿元，实现高质量增长。TV和商显等大尺寸产品保持竞 争优势，稳固经营基本盘，在中小尺寸产品领域，规模快速增长，竞争力持续提高。 新能源光伏和半导体材料业务领域，报告期内，中环领先巩固半导体材料领域国内领先地位，全年实现 营业收入超57亿元，营收及出货量继续稳居国内第一；受光伏产业链各环节过剩影响，TCL中环正经历 光伏产业的剧烈波动，公司正通过坚持产品技术创新和全球化战略，推进组织变革，改善盈利能力。 此外，报告期内茂佳科技TV代工业务地位保持行业领先，显示器代工业务高速成长，并通过拓展高附 加值产品领域，实现了盈利能力的显著增强。公司其他业务板块经营稳健，继续贡 ...

Core Viewpoint - TCL Technology expects a significant increase in net profit for 2025, projecting a growth of 169% to 191% year-on-year, with estimated net profit ranging from 4.21 billion to 4.55 billion yuan [1] Group 1: Financial Performance - The company anticipates a net profit of 4.21 billion to 4.55 billion yuan for 2025, marking a substantial increase compared to the previous year [1] - TCL Technology's revenue is expected to exceed 100 billion yuan, with net profit surpassing 8 billion yuan and operating cash flow net amounting to over 40 billion yuan, indicating high-quality growth [1] Group 2: Strategic Developments - The company focuses on three core areas: semiconductor displays, new energy photovoltaics, and semiconductor materials [1] - TCL Huaxing is committed to a leading strategy, enhancing growth momentum and operational resilience [1] - The company completed the acquisition of 100% equity in the former LG Display (China) Co., Ltd., improving its capacity layout for large and medium-sized LCD panels [1] - TCL Technology is expanding its G5.5 generation printed OLED production line and is constructing the world's first high-generation printed OLED production line, which will advance the commercialization of printed OLED technology [1]

Core Viewpoint - TCL Technology expects a net profit of 4.21 billion to 4.55 billion yuan for the fiscal year 2025, representing a year-on-year growth of 169% to 191% [1] Group 1: Business Focus and Strategy - The company is focusing on three core businesses: semiconductor displays, new energy photovoltaics, and semiconductor materials [1] - TCL aims to continuously strengthen operational resilience and enhance competitive advantages, committing to sustainable high-quality development [1] Group 2: Financial Performance - During the reporting period, TCL Huaxing adhered to a leading strategy, solidifying growth momentum and improving operational resilience [1] - The company achieved a revenue exceeding 100 billion yuan, with a net profit surpassing 8 billion yuan and a net operating cash flow of over 40 billion yuan [1] - Large-size products, such as TVs and commercial displays, maintain competitive advantages, stabilizing the operational foundation [1] Group 3: Market Position - In the small and medium-sized product segment, TCL is experiencing rapid growth and continuously improving its competitiveness [1]

面对新一轮科技变革与产业革命浪潮，李东生强调了中韩两国在人工智能、半导体显示、新能源汽车以及生物科技等新兴领域的巨大合作潜力。他认为， 通过加强技术研发合作与创新生态共建，能够加速科技成果的转化，共同开拓全球市场的新蓝海。 本次中韩商务论坛共邀请了韩国经济代表团200多名企业家出席此次活动，包括三星电子会长李在镕、SK集团会长崔泰源等。 在全球经济格局加速重构的大背景下，尽管中韩两国面临新的产业竞争挑战，"和则两利"的合作逻辑始终清晰而坚定。 文/林典驰 TCL创始人、董事长李东生1月5日作为中国民营企业家代表受邀参加中韩商务论坛，并发言。 李东生指出，两国产业界应当立足长远、面向全球，推动更紧密的产业协同，具体从三个方面深化合作：一是充分利用中韩自贸协定的合作机制，深化双 边经贸合作；二是发挥各自产业优势，推动科技创新领域的合作；三是共筑产业韧性，优化区域供应链布局。 "站在新的历史起点，我们期待与韩国企业界深化互利合作，通过机制创新、技术协同和产业融合，共同谱写两国经贸关系的新篇章，为区域繁荣稳定作 出应有贡献。"李东生的表态，彰显了中国民营企业参与中韩经贸合作的诚意与担当。 以技术破局， 构建竞合共生生 ...

1月5日，TCL创始人、董事长李东生在中韩商务论坛上表示：面对新一轮科技变革与产业革命浪潮，中 韩两国在人工智能、半导体显示、新能源汽车、生物科技等新兴领域合作潜力巨大。 据了解，TCL已与多家韩国企业形成业务合作：在半导体显示领域，TCL华星与三星、LG、现代等韩 国企业开展业务合作，合作产品涉及电视、商用显示、笔记本电脑、手机和平板等；同时，TCL华星已 完成对苏州三星及广州LG部分面板产线的收购；在新能源光伏领域，TCL中环与韩国I-Solar Energy签 署合作备忘录，围绕韩国工商业光伏市场展开合作。 ...

图：创业板50指数四大赛道 创业板50指数：追"光"识"新"更掘"金"。横向对比来看，创业板50指数的光模块含量、新能源光伏含量 以及金融科技含量优于创业板指以及主流宽基指数。 创业板50ETF（159949）：汇聚创业板优势领域的成长白马，聚焦于科技成长属性的龙头企业。当前估 值41.83倍，近十年43.14%分位（数据来源：Wind，截至2025-12-31）。 创业板50指数（399673.SZ）权重行业观点： 行情回顾及主要观点： 2025年A股市场表现突出，主要指数全面上扬，成长风格领跑全市场：沪深300涨17.66%，中证500涨 30.39%，中证1000涨27.49%，创业板50涨57.45%，科创50涨35.92%。2025年的A股行情主要由流动性 宽松与主题轮动主导，2026年市场或将进入"业绩验证期"。建议把握政策驱动、盈利修复与景气回升方 向，重点关注科技成长与高端制造板块，如2025年涨幅达57.45%的创业板50指数（同期跑赢创业板指 7.88%）。（数据来源：Wind，截至2025.12.31） 创业板为主要"三创（创新、创造、创意）四新（新技术、新产业、新业态、新模式）"的成长 ...

新京报贝壳财经讯（记者陈维城）1月5日，在中韩商务论坛上，TCL创始人、董事长李东生表示："面 对新一轮科技变革与产业革命浪潮，中韩两国在人工智能、半导体显示、新能源汽车、生物科技等新兴 领域合作潜力巨大。通过加强技术研发合作与创新生态共建，能够加速科技成果转化，共同开拓全球市 场新蓝海。" 据悉，中韩商务论坛由中国贸促会与韩国大韩商工会议所共同主办。韩国总统李在明及韩国经济代表团 200多名企业家出席此次活动，包括三星电子会长李在镕、SK集团会长崔泰源、现代汽车集团会长郑义 宣、LG集团会长具光谟等。 编辑 岳彩周 校对 柳宝庆 目前，TCL三大核心产业与韩国企业构建起深厚竞合关系。在智能终端领域，TCL实业在韩国市场已实 现多品类布局；在半导体显示领域，TCL华星已与三星、LG、现代等韩国头部企业建立深度战略合 作，此前TCL华星先后收购苏州三星与广州LG面板产线。在新能源光伏领域，TCL中环与韩国I-Solar Energy已签署合作备忘录，双方共同开拓韩国工商业光伏市场。 "在全球经济格局加速重构的背景下，中韩两国虽面临产业竞争的新课题，但'合则两利'的合作逻辑始 终清晰而坚定。"李东生在现场表示，两 ...