TCL TECH.(SZ:000100)2024-08-27 16:58Group 1: Financial Performance - In the first half of 2024, TCL Technology achieved operating revenue of 80.224 billion CNY, with a net profit attributable to shareholders of 999.5 million CNY, representing a year-on-year growth of 192.28% [2] - The semiconductor display business generated revenue of 49.877 billion CNY, a year-on-year increase of 40.39%, with a net profit of 2.696 billion CNY, improving by 6.145 billion CNY [2] - The cash flow from operations for the semiconductor display business increased by 60.9% to 13.2 billion CNY [2] Group 2: Semiconductor Display Business Insights - The global retail market for television terminals remains sluggish, but the supply-side competition has improved, leading to a healthy industry development [2] - The average price of television panels has been steadily increasing due to supply-side adjustments and demand-side factors such as sports events and larger screen sizes [2] - The second quarter saw a significant profit of 2.157 billion CNY, with a quarter-on-quarter growth of 300.19% [2] Group 3: New Energy and Silicon Materials Business - In the first half of 2024, TCL Zhonghuan reported revenue of 16.213 billion CNY, a decrease of 53.54%, resulting in a net profit loss of 914 million CNY [3] - The photovoltaic industry is facing supply-demand imbalances, leading to price declines and cash cost losses [3] Group 4: OLED Business Growth - The flexible OLED mobile panel shipments reached 39 million units, a year-on-year increase of 180%, with a market share ranking third globally [4] - The company is focusing on high-end product strategies to enhance product average prices [4] Group 5: Market Trends and Future Outlook - The global television sales have shown resilience, maintaining around 200 million units annually over the past decade, with emerging markets continuing to grow [4] - The average size of televisions is expected to increase, driving demand for larger panels [4] - TCL plans to enhance its production capacity while maintaining a focus on efficiency and cost management [5]