Sales and Revenue Performance - In Q3 2025, TCL's refrigerator and freezer sales reached 4.16 million units, a slight decrease of 4.4% year-on-year [2] - Washing machine sales totaled 1.01 million units, showing a year-on-year increase of 1.3% [2] - Total revenue for Q3 2025 was 4.869 billion CNY, down 2.3% compared to the previous year [2] Cash Flow and Inventory Management - For the first nine months of 2025, the net cash flow from operating activities was 1.93 billion CNY, an increase of 576 million CNY year-on-year [3] - As of September 2025, inventory decreased by 24.3% compared to the beginning of the year, with a reduction of 346 million CNY in the inventory of Oma refrigerators [3] Profitability and Strategic Initiatives - The net profit attributable to shareholders for the first nine months of 2025 was 977 million CNY, reflecting a year-on-year growth of 18.5% [3] - The company is actively expanding into overseas markets, particularly in the Middle East, Africa, and Latin America, achieving significant results in the UK, Brazil, and Spain [3] - Product structure optimization and the introduction of new products contributed to a 1.52% increase in gross margin [3] Research and Development - The R&D expense ratio for the first nine months of 2025 was 3.6%, a year-on-year increase of 0.1%, positioning the company among the top in the domestic appliance industry [3] Production Capacity and Future Plans - Current production capacity is primarily located in Zhongshan and Hefei, with plans to expand capacity in Thailand to enhance production efficiency [4] - The company has successfully launched a high-end refrigerator production project with an annual capacity of 2.8 million units [4] Dividend Policy - The company has not yet distributed dividends but emphasizes the importance of shareholder returns, with retained earnings meeting legal distribution conditions [5]

Sales and Revenue Performance - In Q3 2025, the sales volume of smart refrigerators and freezers was 1.01 million units, a slight decrease of 4.4% year-on-year [2] - Washing machine sales reached 416,000 units, an increase of 1.3% year-on-year [2] - Total revenue for Q3 2025 was 4.869 billion CNY, a decline of 2.3% year-on-year [2] Profitability and Market Strategy - The net profit attributable to shareholders for the first three quarters of 2025 was 977 million CNY, an increase of 18.5% year-on-year [3] - The company is committed to a globalization strategy, actively expanding into markets in the Middle East, Africa, and Latin America, achieving significant results in benchmark markets like the UK, Brazil, and Spain [3] - Product structure optimization has led to a 1.52% increase in gross margin [3] Future Market Expansion - The company plans to continue expanding in non-European markets, with growth in the Asia-Pacific, Latin America, and Middle East regions for the first nine months of 2025 [2] - Future initiatives include launching innovative products to meet diverse consumer needs and increasing brand visibility through international exhibitions and sports marketing [2] Shipping and Cost Management - The company primarily uses sea freight for exports, with costs managed through long-term agreements with shipping companies [3] - In the first nine months of 2025, shipping costs decreased, stabilizing cost pressures [3] Product Innovation - New product launches include the TCL AI Super Drum washing machine with a cleaning ratio of 1.31 and the TCL Ice Qilin refrigerator with advanced preservation technology [4] - The company aims to enhance product competitiveness through continuous R&D investment and product structure optimization [4] Shareholder Returns - As of the end of the reporting period, the company had undistributed profits of 862 million CNY, meeting the conditions for profit distribution [5] - The company is committed to returning value to shareholders in accordance with relevant laws and regulations [5] Business Focus - The company will continue to focus on its core business of refrigerators, freezers, and washing machines, enhancing its technological advantages in key industry segments [5]

Financial Performance - In Q1 2025, the company achieved revenue of 4.6 billion RMB, a year-on-year increase of 9.58%, marking nine consecutive quarters of positive growth [2] - The net profit attributable to shareholders reached 302 million RMB, up 33.98%, with 15 consecutive quarters of double-digit year-on-year growth [2] - The net cash flow from operating activities was 578 million RMB, reflecting a year-on-year growth of 33.33% [3] Market Position - According to third-party data, the company’s Oma refrigerator ranks second or third in export market share [2] - In 2024, the export sales of Oma refrigerators to France and Brazil increased by over 100%, significantly outpacing industry growth [2] - The company has maintained its position as the leading exporter of refrigerators from China to Europe for 17 consecutive years [3] Product Development - The company launched the TCL Ice Kirin series refrigerators, featuring advanced technologies such as deep freezing at -40°C and new molecular preservation technology [3] - The TCL AI Super Tube Washing Machine achieved a wash ratio of 1.31, utilizing the TCL Fuxi AI model for enhanced user experience [3] Expansion Plans - The company plans to establish a production base in Southeast Asia, with an initial investment of up to 80 million RMB for a cold cabinet production line, expected to add 300,000 units of annual capacity [3] - The second phase of the Southeast Asia project includes purchasing land for a new refrigerator production line, with an investment budget of up to 600 million RMB, aiming for an additional 1.4 million units of annual capacity [3] Dividend Policy - The company currently has negative retained earnings and does not meet the profit distribution conditions as per the Company Law and Articles of Association [4] - The company is committed to enhancing profitability and will actively consider returning value to shareholders once conditions are met [4] Business Strategy - The company focuses on AI smart home appliances and aims to become a global leader in this sector [5] - There are no current plans to expand into air conditioning, as the main business remains in refrigerators, freezers, and washing machines [5]