TCL Technology Posts Strong 2025 Financial Results

TCL Technology (000100.SZ) released its 2025 financial report on the evening of March 27th, delivering robust growth across key financial indicators. During the reporting period, the company achieved an operating income of 184.06 billion yuan, a year-on-year increase of 11.7%; the net profit attributable to shareholders of listed companies stood at 4.52 billion yuan, surging 188.8% year-on-year; and the net operating cash flow reached 44.02 billion yuan, rising 49.1% from the previous year. The company plans to distribute a dividend of 0.9 yuan per 10 shares, with a total cash dividend of 1.87 billion yuan, representing a dividend payout ratio of over 40%.

At the operational level, TCL Technology’s semiconductor display business achieved high-quality growth. TCL Huaxing recorded an annual operating income of 105.24 billion yuan, a year-on-year increase of 17.4%, and a net profit of 8.01 billion yuan, up 44.4% year-on-year. Its core business maintained a development trend of “steady progress in large-size products, rapid growth in small and medium-size products, and full bloom in emerging applications.” 

In 2025, TCL Huaxing successfully acquired and integrated LGD’s Guangzhou LCD factory, fully put the second phase of the t9 project into production, completed the strategic acquisition of minority equity in the G11 production lines (t6 and t7), invested in building the world’s first printed OLED production line t8 project, and accelerated the layout of MLED, further consolidating its leading position in the industry.

Mokai Technology strengthened business synergy with TCL Huaxing, achieving an operating income of 21.73 billion yuan in 2025, a year-on-year increase of 5.9%. Its TV OEM business has maintained the global top position for three consecutive years, demonstrating strong competitiveness in the global market.

The company’s new energy photovoltaic business consolidated the competitive advantages of its crystal wafer business, improved battery module capabilities, and accelerated the implementation of moderate integration and globalization strategies. It has improved the intellectual property protection system for technologies such as BC and shingled modules, and built a new industrial ecosystem. 

Meanwhile, it actively integrated and optimized existing production capacity to promote the healthy development of the industry. TCL Technology’s semiconductor materials business achieved an operating income of 5.71 billion yuan in 2025, a year-on-year increase of 21.7%, ranking first in China in terms of business revenue. It has significantly improved operational efficiency, covered key domestic and foreign customers, and maintained leading comprehensive competitiveness in the domestic industry.

TCL Technology simultaneously released the “Three-Year Shareholder Dividend Return Plan (2026-2028)”, stating that the company expects to distribute no less than 30% of its annual net profit attributable to shareholders of listed companies in cash each year over the next three years. This commitment fully reflects the company’s confidence in its long-term development and its emphasis on returning value to shareholders.