转自：中国证券报·中证网 TCL电子持续投入高端显示与AI技术研发布局，将AI技术应用在产品、企业运营以及提升研发效率上。 TCL电子聚焦电视端AI交互，完成了"灵控桌面3.0"的升级，并在国际市场上深化与Google、Roku、 Netflix等国际互联网巨头的合作，推动海外商业模式不断突破。 此外，TCL电子也将AI技术应用在智能眼镜、陪伴机器人等新业务上，并取得了突破性进展。今年， TCL电子旗下孵化的新锐企业雷鸟创新推出了全彩AR+AI深度融合的个人信息终端——雷鸟X3 Pro AR 眼镜。8月，雷鸟创新宣布与蚂蚁集团达成战略合作，携手打造面向全球市场的数字支付融合创新解决 方案，推动AI与AR眼镜技术在本地生活、移动支付、跨境消费等场景落地。 陪伴机器人方面，TCL电子于今年年初的国际消费电子展（CES）上发布了全球首款分体式智能家居陪 伴机器人TCL AiMe。该产品集成了AI、物联网控制中枢和家庭陪伴机器人的功能，标志着TCL电子在 AI+IoT+机器人融合领域迈出了关键一步。 TCL电子表示，未来公司将秉承"战略领先、创新驱动、先进制造、全球经营"的经营理念，持续深 化"中高端+全球化"的双轮 ...

Core Viewpoint - TCL Electronics continues to deepen its "mid-to-high-end" and "globalization" strategies, achieving high-quality growth in global business with a significant optimization in product and channel structure, resulting in a 20.4% year-on-year revenue increase to HKD 54.78 billion in the first half of the year [1] Financial Performance - The company's after-tax profit for the first half of the year reached HKD 1.05 billion, a year-on-year increase of 60.5%, while adjusted net profit attributable to shareholders was HKD 1.06 billion, reflecting a 62.0% growth [1] - Overall expense ratio decreased by 1.0 percentage points to 11.5% due to enhanced operational efficiency from digital transformation and automation upgrades [1] Television Business - TCL's global TV shipment volume increased by 7.6% year-on-year to 13.46 million units, maintaining a top-two global ranking [2] - Mini LED TV shipments surged by 176.1% year-on-year to 1.37 million units, ranking first globally [2] - Domestic TV shipments grew by 3.5%, with TCL brand TV shipments increasing by 10.2% year-on-year [2] Market Expansion - TCL Electronics has established production bases in multiple countries, including Vietnam, Mexico, Brazil, Poland, and Pakistan, with an annual production capacity exceeding 30 million units [3] - International TV shipments rose by 8.7% year-on-year, with Mini LED TV shipments increasing by 196.8% [3] AI and Innovation - The company is investing in high-end display and AI technology, enhancing user satisfaction through AI interaction on TV [4] - TCL Channel has been upgraded, significantly improving content distribution efficiency and user experience [4] - The launch of the Thunder X3 Pro AR glasses and the TCL AiMe companion robot marks significant advancements in AI and IoT integration [5][6] Strategic Vision - TCL Electronics aims to enhance its global brand presence and increase R&D investment while optimizing its global supply chain and logistics [6] - The company adheres to a long-term operational goal of prioritizing net profit growth over revenue and sales volume growth, striving for high-quality development [6]

本报讯 （记者刘晓一）8月22日晚间，TCL电子控股有限公司（以下简称"TCL电子"）披露2025年中期 业绩。 整体来看，TCL电子持续深化"中高端"和"全球化"战略，全球业务实现高质量增长，产品及渠道结构明 显优化，创新业务规模保持快速扩张，今年上半年整体收入同比增长20.4%至547.8亿港元；此外，随着 数字化转型及自动化智能化升级，生产制造与物流仓储运营效率显著提升，叠加精准营销策略的持续落 地，整体费用率同比下降1.0个百分点至11.5%。 公告显示，TCL电子上半年除税后利润10.5亿港元，同比增长60.5%，经调整归母净利润10.6亿港元，同 比增幅达62.0%。 中高端与大屏化趋势显著 作为TCL电子的拳头业务，电视业务在品牌影响力显著提升、全球渠道高效拓展以及产品结构持续优化 等因素的共同推动下，实现全球出货规模稳步提升。 报告期内，TCL电视全球出货量同比增长7.6%至1346万台，排名稳居全球前二；其中，中高端产品 MiniLED电视全球出货量同比大幅增长176.1%至137万台，位居全球首位。2025年上半年，TCL电子大 尺寸显示业务全球收入同比增长9.4%至283.5亿港元，毛利 ...

8月22日晚间，TCL电子（01070.HK）披露2025年中期业绩，公司整体收入同比增长20.4%至547.8亿港 元；经调整归母净利润10.6亿港元，同比增幅达62.0%。此外，随着数字化转型及自动化智能化升级， 生产制造与物流仓储运营效率提升，叠加精准营销策略的持续落地，TCL电子整体费用率同比下降1.0 个百分点。 在规模领先优势及中高端战略成效的双重驱动下，TCL电子把握TV行业机构性机会，盈利能力进一步 增强。同时，通过将AI技术应用在产品、企业运营等方面的应用，TCL电子在上半年推出智能眼镜、陪 伴机器人等创新产品，有望驱动长期增长。 把握中高端与大屏化趋势 AI应用带来惊喜 在研发方面，TCL电子正持续加大对Mini LED、量子点等高端显示技术及AI领域的研发投入，以提升 产品竞争力并推动全球中高端化战略的落地。其中，TCL电子正在致力于将AI技术应用在产品、企业运 营以及提升研发效率上。 比如，在电视端AI交互方面，TCL电子完成了"灵控桌面3.0"的升级，实现了极简桌面优化的同时，在 电视终端上线超高清业务，超高清内容时长突破3万小时属行业领先。在国际市场，通过深化与国际互 联网巨头的密 ...

Investment Rating - The industry investment rating is maintained at "Overweight" [1] Core Insights - The report highlights the increasing importance of domestic GPU chip procurement supported by Beijing, emphasizing the significance of domestic substitution for AI chips [3] - The launch of multiple AI glasses is noted, with a rapid market growth rate anticipated [3] - The report indicates that the global top ten foundry output value is expected to reach a record high in Q4 2024, driven by strong demand for advanced processes [3] - The slowing of Moore's Law is leading to increased demand for heat dissipation solutions, with graphene heat dissipation expected to become a superior solution [3] - NAND price increases announced by SanDisk are expected to drive the storage industry's upward trend [3] Summary by Sections Recent Industry Performance - Over the past 12 months, the industry has shown a relative return of 26.37% compared to the CSI 300 index, with an absolute return of 33.15% [2] Key Events - The launch of the RayNeo X3 Pro AR glasses on May 27, 2025, is a significant event, featuring advanced specifications such as a Qualcomm Snapdragon AR1 platform and a display capable of 16.7 million colors [5] - CounterPoint forecasts a 42% year-on-year growth in AR glasses shipments for 2025, marking it as the fastest-growing segment [5] - The introduction of a 12-megapixel AI glasses application CMOS image sensor by SmartSens is also highlighted, showcasing advancements in lightweight and low-power technology [5] Investment Recommendations - The report suggests focusing on companies within the AR glasses supply chain, including GoerTek, Luxshare Precision, Yida Information, Crystal Optoelectronics, and SmartSens, due to the anticipated acceleration in AR glasses development driven by optical technology advancements and multimodal AI integration [5]

Group 1 - The core viewpoint of the article discusses various companies' recent developments and responses to rumors, highlighting the importance of accurate information in the business landscape [3][4][6][9][12][18][20][22][31]. Group 2 - Industrial and company updates include: - Industrial Bank's private banking program offering internship opportunities for high-net-worth clients' children has been suspended due to controversy [3]. - Xiaomi refuted claims that its product, the玄戒 O1, was customized by Arm, asserting it was developed independently [4]. - Tencent confirmed that there is currently no feature to view visitor records on WeChat Moments [6]. - Xiaomi Group reported a record revenue of RMB 111.3 billion for Q1 2025, a 47.4% year-on-year increase [9]. - Deep Blue Automotive's CEO apologized for the advertising on car screens, acknowledging customer feedback [11]. - Meituan clarified that its statement about "taking all necessary measures" refers to combating low-quality competition, not engaging in price wars [12]. - Kuaishou reported Q1 2025 revenue of RMB 32.608 billion, a 10.9% increase year-on-year [18]. - Zhihu reported a net loss of RMB 10.1 million for Q1 2025, a 93.9% reduction compared to the previous year [20]. - Pinduoduo's Q1 2025 revenue reached RMB 95.67 billion [20]. - The automotive industry saw a revenue increase of 7% in the first four months of 2025, totaling RMB 32,552 billion [31].

《科创板日报》27日讯，雷鸟创新RayNeo今日推出AR眼镜雷鸟X3 Pro、新一代口袋电视雷鸟Air 3s系 列，以及AI拍摄眼镜雷鸟V3 Slim等多款新品。其中雷鸟X3 Pro AR眼镜搭载全球最小可量产全彩Micro- LED光引擎，并与应用材料公司联合研发纳米光刻刻蚀RayNeo光波导，实现43英寸全彩3D空中透明屏 显示效果。雷鸟X3 Pro搭载第一代骁龙AR1平台、豪威定制的空间摄像头，内置通义定制的第一视角多 模态大模型，成为全球首批支持可视化Live AI交互的AR眼镜。 雷鸟X3 Pro AR眼镜发布 搭载豪威定制的空间摄像头 ...