TCL科技：2026年第一季度报告（英文版）

FirstQuarter2026Report April2026 Content SectionIImportantNoticesandDefinitions.............................................................3SectionIIKeyFinancialInformation........................................................................5SectionIIIManagementDiscussionandAnalysis....................................................7SectionIVUseoftheCapitalRaised........................................................................12SectionVShareholderInformation.........................................................................13SectionVIQuarterlyFinancialStatements.............................................................16 SectionIImportantNoticesandDefinitions TheBoardofDirectors(orthe"Board"),thedirectors,andseniormanagementofTCLTechnologyGroupCorporation(hereinafterreferredtoasthe"Company")herebyguaranteethatthisquarterlyreportisfactual,accurate,andcomplete,andshallbe jointly and severally liable for any misrepresentations,misleadingstatements,ormaterialomissionstherein. Mr.LiDongsheng,theperson-in-chargeoftheCompany,Ms.LiJian,theperson-in-chargeof financial affairs(Chief Financial Officer),and Ms.JingChunmei,theperson-in-chargeofthefinancialdepartment,herebyguaranteethatthefinancialstatementsinthisReportarefactual,accurate,andcomplete. AlloftheCompany'sdirectorsattendedtheBoardmeetingforthereviewofthisFirstQuarter2026Report. Thefutureplans,developmentstrategiesorotherforward-lookingstatementsmentionedinthisReportshallNOTbeconsideredaspromisesoftheCompanytoinvestors.Therefore,investorsarekindlyremindedtopayattentiontopossibleinvestmentrisks. ThisReporthasnotbeenaudited.ThisReporthasbeenpreparedinbothChineseand English.Should there be any discrepancies or misunderstandingsbetweenthetwoversions,theChineseversionshallprevail. Definitions SectionIIKeyFinancialInformation (I)Keyaccountingdataandfinancialindicators Indicatewhetherthereisanyretrospectivelyadjustedorrestateddatuminthetablebelow□Yes☑No (II)Non-recurringprofitandlossitemsandamount Unit:RMB Detailsofotherprofitandlossitemsthatmeetthedefinitionofnon-recurringprofitsandlosses:□Applicable☑Notapplicable Notesonnon-recurringprofitandlossitemsthatarelistedintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic—Non-RecurringGain/LossshallbeusedtodefineRecurringGain/Lossitems□Applicable☑Notapplicable TheCompanydoesnothaveanynon-recurringprofitandlossitemslistedintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic—Non-RecurringGain/Lossthataredefinedasrecurringprofitandlossitems. (III)Changesinkeyaccountingdataandfinancialindicatorsandreasonsforsuchchanges ☑Applicable□Notapplicable SectionIIIManagementDiscussionandAnalysis I.OverallOperatingPerformanceoftheCompanyDuringtheReportingPeriod Sincethestartoftheyear,escalatinginternationalgeopoliticalconflictsandsurgingupstreamenergypriceshavereignitedupwardpressureoninflation.Againstthisbackdrop,themomentumofglobal economic growth has weakened,with macroeconomic uncertainties increasingsubstantially.Inthefaceofexternalchallenges,theCompanyfocusedonthreekeybusinesspillars,including displays,new energy photovoltaics,and other silicon materials.Wecontinuouslystrengthenedtheoperationsbarrierscharacteristicofhigh-tech,heavy-asset,andlong-cycleindustries,anchored our leading strategy,and pursued sustainable high-qualitydevelopment. DuringtheReportingPeriod,theCompanyachievedoperatingrevenueofRMB43.45billion,representeda year-on-year increase of 8.4%.Net profit attributable to shareholders of theCompanyamountedtoRMB1.56billion,representedasubstantialyear-on-yearsurgeof53.7%,whileoperatingcashflowreachedRMB11.39billion.AsoftheendoftheReportingPeriod,theCompany'sdebt-to-assetratiostoodat65.0%,anincreaseof0.8percentagepointsfromtheendofthepreviousreportingperiod;cashandcashequivalentsattheendoftheReportingPeriodwereRMB20.60billion. II.OperationsPerformanceoftheCompany'sCoreBusinessesDuringtheReportingPeriod TheCompanywasdeeplyengagedinleadingedgemanufacturingindustriescharacterizedbyhightechnology,heavyassets,andlongcycleswithdisplays,newenergyphotovoltaics,andothersiliconmaterialsatitscore,andcontinuouslypromotedtechnologicalinnovationandindustrialadvancementsupportingthestrategicgoalsofgloballeadership. (I)DisplayBusiness 1.TCLCSOT InQ12026,thesupply-demanddynamicsoftheglobalLCDpanelindustryimprovedremarkably.Theoverallhealthoftheindustryenhanced,anditwasenteringatrackofsounddevelopment.Onthedemandside,themarketdemandremainedresilient,supportedbyinventorystockinginpreparationfortheFIFAWorldCupandthecontinuedimplementationofChina'strade-inpolicy.TV panel prices generally rose this quarter,while prices for monitor andnotebookpanelsremainedstable.However,followingthesecondroundofpriceincreasesby smartphonebrands,therewasariskofaphasedslowdowninend-userdemand.Onthesupplyside,theindustrymaintainedastrategyofon-demandproductionandprecisecapacitycontrol,effectivelyaligningwithmarketrhyt