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TCL (Group) Net Profit in 2021 Increases by 129% YoY to US$2.59 Billion

TCL (Group) Net Profit in 2021 Increases by 129% YoY to US$2.59 Billion

SHENZHEN, China, May 6, 2022 /PRNewswire/ -- TCL (Group) announces its annual results for the financial year ending on 31 December 2021. The Group achieved the best results in its history for both operating revenue and profit securing an overall revenue of US$38.1 billion, up 65% year-on-year, and a net profit of US$2.59 billion, up 129% year-on-year.

After 40 years of development, the Group has grown into a global leading high-tech industrial group. With the two main entities - TCL Technology and TCL Industrials - the Group's operations span three core business lines of display technology, clean energy and consumer electronics.

During the reporting period, TCL Technology recorded revenue of US$24.7 billion, a year-on-year increase of 113% and a net profit of US$2.26 billion, a year-on-year increase of 195.3%. TCL CSOT, a subsidiary of TCL Technology, which focuses on the display technology business, achieved a year-on-year shipment area increase of 36% in the large-sized display business and 23% in the small and medium-sized display business.

As for clean energy, the consumption rate of silicon material per product dropped significantly which led to a rapid rise in gross profit per product. In terms of materials for clean energy, the Group's production capacity continued to increase; not only did shipments accelerate, the scale of production and sales increased significantly year-on-year.

Revenue for TCL Industrials reached US$15.96 billion, representing a year-on-year growth of 18% and a net profit of US$636 million, up 74% year-on-year. TCL's consumer electronics business has gained steady growth benefiting from a breakthrough in the mid-to-high-end business and full coverage of different product categories in the global market.

TCL consumer electronics took the lead in the Mini LED field with the synergy of supply chain vertical integration. The sales volume of TCL's mid-to-high-end TV has grown significantly. The sales of QLED TVs and Mini LED TVs have increased by 53.8% and 50.5% year-on-year respectively. According to the data from market research firm GfK, in 2021, TCL TVs grabbed a higher market share in terms of sales volume at 11.5% ranking among the top 3 in the world.

In the meantime, the Group maintained a strong focus on corporate social responsibility. The Group earlier released an ESG report outlining TCL's plans for a "dual carbon" strategy. Specifically, TCL Technology has improved its energy management system and gained an ISO50001 certification. Driven by innovative technologies, TCL CSOT helps boost digital transformation and build a smart factory. Its energy management system ("EMS") can provide visualized and real-time monitoring, analysis and processing of key energy consumption indexes increasing the efficiency of operational decisions helping reduce consumption and enhance energy conservation.

In 2022, the Group will accelerate its business strategy and look to achieve a global leading position in the three core businesses of display technology, clean energy and consumer electronics.

About TCL

TCL is a leading global intelligent technology company with a mission to 'Inspire Greatness'. As a leading technology company, TCL provides diversified consumer electronics covering TVs, smartphones, audio and smart home products as well as display technology and clean energy solutions. TCL is committed to bringing smart technology experiences and healthy lifestyles to consumers around the world.

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