TCL Electronics Announces First Three Quarters Net Profit of 860 Million Yuan, a Year-on-Year Increase of 70.85%

PVTIME - On the evening of October 28, TCL Electronics Holdings Limited (“TCL Electronics” or “the Company”) released its 2020 third quarter performance report. The announcement shows that from January to September this year, the company achieved operating income of 48.71 billion yuan, a year-on-year decrease of 17.18%, a gross profit of 2.025 billion yuan, a year-on-year decrease of 21.42%; and a net profit was 860 million yuan, a year-on-year increase 70.85%.

In the third quarter of this year, TCL Electronics achieved revenue of 19.377 billion yuan, a year-on-year increase of 28.87% and realized a net profit of 678 million yuan after the deduction of non-profits, a year-on-year increase of 168.13%.

TCL Electronics’ main business structure consists of three major sectors: semiconductor display and materials, industrial finance and investment, and other. However, after the company's public delisting and acquisition of 100% equity of Tianjin Zhonghuan Electronic Information Group Co., Ltd. (hereinafter referred to as "Zhonghuan Electronics"), Zhonghuan Electronics will consolidate its financial statements in the fourth quarter of 2020. At that time, TCL Electronics’ business structure will be adjusted into four major business sectors: semiconductor display and materials, semiconductor photovoltaic, industrial finance and investment, and other.

In the semiconductor display field, in the third quarter of this year, increased panel demand combined with the arrival of the peak sales season led to improved profitability. From January to September this year, TCL CSOT(TCL China Star Optoelectronics Technology Co., Ltd) achieved a sales area of ​​21.687 million square meters, a year-on-year increase of 41.7%; realized revenue of 32.38 billion yuan, a year-on-year increase of 31.9%, and achieved a net profit of 566 million yuan.

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