TCL科技：2025年第三季度报告（英文版）

StockCode:000100 StockAbbr.:TCLTECH. TCL科技集团股份有限公司TCLTechnologyGroupCorporation ThirdQuarter2025Report October2025 Content SectionIImportantNoticesandDefinitions.............................................................3SectionIIKeyFinancialInformation........................................................................5SectionIIIManagementDiscussionandAnalysis....................................................7SectionIVShareholderInformation........................................................................13SectionVOtherSignificantEvents..........................................................................15SectionVIQuarterlyFinancialStatements.............................................................16 SectionIImportantNoticesandDefinitions TheBoard of Directors(or the“Board”),the directors,and seniormanagementofTCLTechnologyGroupCorporation(hereinafterreferredtoas Mr.LiDongsheng,theperson-in-chargeoftheCompany,Ms.LiJian,theperson-in-chargeof financial affairs(ChiefFinancial Officer),and Ms.Jing AlloftheCompany’sdirectorsattendedtheBoardmeetingforthereview Thefuture plans,development strategies or other forward-lookingstatementsmentionedinthisReportshallNOTbeconsideredaspromisesofthe ThisReporthasnotbeenaudited.ThisReporthasbeenpreparedinbothChineseandEnglish.Shouldtherebeanydiscrepanciesormisunderstandings Definitions SectionIIKeyFinancialInformation (I)Keyaccountingdataandfinancialindicators Indicatewhetherthereisanyretrospectivelyadjustedorrestateddatuminthetablebelow (II)Non-recurringprofitandlossitemsandamount Applicable□Notapplicable □ApplicableNotapplicable TheCompanyhasnootherprofitandlossitemsthatmeetthedefinitionofnon-recurringprofitsandlosses.Notesonnon-recurringprofitandlossitemsthatarelistedintheExplanatoryAnnouncementNo.1onInformationDisclosurefor □ApplicableNotapplicable TheCompanydoesnothaveanynon-recurringprofitandlossitemslistedintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic—Non-RecurringGain/Lossthataredefinedasrecurringprofitand (III)Changesofkeyaccountingdataandfinancialindicatorsandreasonstherefor SectionIIIManagementDiscussionandAnalysis I.OverallOperatingPerformanceoftheCompanyDuringtheReportingPeriod Sincethe beginning of the year,global economic and trade uncertainties have not onlypersistedbutintensified,amidarapidreshapingoftheinternationallandscapeandafundamentaloverhaulofglobalizationrules.Theintertwiningtrendsofanti-globalization,regionalization,and Inthefirstthreequartersof2025,theCompanyrealizedRMB135.9billioninoperatingrevenue,representinga10.5%increaseYoY.NetprofitattributabletoshareholdersreachedRMB3.05billion,surging99.8%YoY,whileoperatingcashflowgrew53.8%YoYtoRMB33.84billion.Specifically,thenetprofitattributabletoshareholdersofthelistedcompanyinthethirdquarterwas II.OperatingPerformanceoftheCompany’sCoreBusinessesDuringtheReportingPeriod TheCompanyhonedinadvancedmanufacturing,withdisplays,newenergyphotovoltaics,andothersiliconmaterialsatitscore,andwascommittedtoachievingthestrategicgoalofglobal (I)DisplayBusiness Thethirdquarterwitnessedacontinuedimprovementintheglobalpanelmarket,buoyedbyrecoveringdemandandstabilizingprices,signalinganindustry-widerecovery.Onthedemandside, multipleapplication segments experienced synchronized growth.TV brands actively built upinventoryfor year-end promotions,driving a recovery in demand for large-sized panels.Thenotebookmarketsawsustainedpositivemomentum,supportedbydomestic"old-for-new"subsidy Forthefirstthreequarters,TCLCSOTachievedcumulativeoperatingrevenueofRMB78.01billion,anincreaseof17.5%YoY;netprofitwasRMB6.1billion,up53.5%YoY;andnetprofitattributabletoshareholdersofTCLTECH.wasRMB3.9billion,anincreaseof41.9%YoY. TheCompany's core businesses achieved major breakthroughs across multiple fronts,demonstratingapositivetrendof“steadyprogressinthelarge-sizedsegment,rapidgrowthinthesmall-andmedium-sizedsegment,andcomprehensiveblossominginemergingareas,”showcasingdevelopmentalresilienceandgrowthpotential.Inthethirdquarter,theCompanymaintaineditscompetitiveedgeinthelarge-sizedsegment(includingTVandcommercialdisplays),withmarket applicationsinmedical,e-paper,andsmartprojectionfields,establishingitselfasacriticalpillarfor Duringthe reporting period,the Company made steady progress in integrating the t11productionline,achieving gains in quality and efficiency through operational refinement.Byleveragingsupplychainsynergiesandoptimizingproductionprocesses,t11significantlyreduceditsunitcostcomparedtopre-acquisitionlevels,maintainedhighcapacityutilization,andenhanced DuringtheReportingPeriod,TCLCSOTcontinuedtoadvancetheindustrializationprocessintwocutting-edgetechnologies:printedOLEDandMicroLED.TheexistingG5.5printedOLEDproductionline(t12)wassteadilyrampingupitscapacityfrom3Kto9Kpiecespermonth,withbothproductyieldandqualityshowingcontinuousimprovement.Medicaldisplayproductshave TheCompany's key strategic priority,Micro LED(MLED),wil