TCL TECH.(SZ:000100)2022-12-04 10:12Group 1: Company Overview and Financial Performance - TCL Group achieved a revenue of 41.16 billion CNY in the first three quarters of 2019, representing a year-on-year growth 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 operating efficiency improved, with per capita net profit rising from 28,500 CNY to 76,100 CNY, and the expense ratio decreased from 16.1% to 13.0% [2] Group 2: TCL Huaxing's Operational Performance - TCL Huaxing reported a revenue of 24.56 billion CNY from January to September 2019, a year-on-year increase of 28.4% [2] - The net profit was 1.3 billion CNY, a decline of 28.7%, with an EBITDA margin of 26.5% [2] - The large-size panel market share increased to the third globally, with large-size business revenue at 13.55 billion CNY, down 17.7% year-on-year [2] Group 3: Production and Capacity Expansion - The T3 factory's small and medium-sized product shipment area was 1.008 million square meters, a year-on-year increase of 252%, with a shipment volume of 87.787 million pieces, also more than doubling year-on-year [3] - The T4 flexible AMOLED factory made progress in capacity and yield, with significant advancements in differentiated technologies such as under-screen cameras and ultra-narrow bezels [4] - TCL Huaxing's overall shipment area is expected to grow at a CAGR of 18% over the next five years, significantly increasing market share [2] Group 4: Customer Base and Market Position - TCL Huaxing supplies major clients including Samsung, Huawei, Xiaomi, Oppo, Vivo, and Lenovo, with over 80% of shipments to the top six global brands [4] - The T3 factory is expanding into commercial display applications, with rapid development and mass production of products for laptops and automotive displays [4] - The company is enhancing its product structure by focusing on high-margin segments such as automotive and laptop displays [4]