TCL TECH.(SZ:000100)2022-12-04 10:14Group 1: Financial Performance - In the first three quarters of 2019, TCL Group achieved operating revenue of 41.16 billion CNY, a year-on-year increase of 19.2% [1] - Net profit reached 3.39 billion CNY, up 38.5% year-on-year, with net profit attributable to shareholders of the listed company at 2.58 billion CNY, an increase of 19.3% [1] - The company's per capita net profit increased from 2.85 million CNY to 7.61 million CNY, while the expense ratio decreased from 16.1% to 13.0% [2] Group 2: Capital Structure and R&D Investment - The asset-liability ratio improved from 68.4% to 60.3%, indicating a healthier capital structure [2] - R&D investment totaled 3.89 billion CNY in the first nine months, with 1,527 PCT international patent applications submitted [2] Group 3: Production and Market Position - TCL Huaxing achieved operating revenue of 24.56 billion CNY in the first nine months, a year-on-year increase of 28.4% [2] - The large-size panel market share increased to third globally, with large-size product shipments reaching 14.29 million square meters, a 10.1% increase year-on-year [3] - The T3 factory's small and medium-sized shipments reached 1.008 million square meters, a year-on-year increase of 2.52 times, with revenue of 11.01 billion CNY, up 3.14 times [3] Group 4: Technology and Product Development - The T4 factory's flexible AMOLED products are advancing in capacity and yield, with significant progress in differentiated technology areas such as under-screen cameras and ultra-narrow bezels [4] - The company is focusing on high-growth, high-margin segments such as automotive and laptops, with plans to introduce more high-end products in 2020 [5] - The T3 production line is the largest single capacity line globally, with a capacity of 50K, and is expected to further increase capacity to meet customer demand [4] Group 5: Market Trends and Future Outlook - The AMOLED market is expected to see increased demand as mobile manufacturers seek stable supply sources, with Chinese manufacturers making significant progress [6] - The company anticipates that OLED panels will become mainstream in the mid-to-high-end mobile market, particularly flexible OLEDs [6]