ThumperComet
New member
TCL Technology Releases 2024 Annual Report
On April 29, TCL Technology Group Corporation announced its 2024 annual report. For the year, the company achieved:
- Revenue: $228.5 billion (¥1,648 billion), down 5.47% YoY
- Net profit attributable to shareholders: $2.16 billion (¥15.6 billion), down 29.38% YoY
- Adjusted net profit: $413 million (¥2.98 billion), down 70.78% YoY
- Operating cash flow: $40.9 billion (¥295 billion), up 16.6% YoY
Key Performance Drivers
Semiconductor Display Business: Record High Revenue
The display industry saw optimized supply-side dynamics, with growing demand for larger screens and AI applications driving panel value. TCL’s semiconductor display business achieved historic revenue of $144.6 billion (¥1,043 billion), up 25% YoY, with net profit reaching $8.64 billion (¥62.3 billion), a $8.65 billion (¥62.4 billion) improvement from 2023.
Solar Energy Business: Cyclical Challenges
Oversupply in the solar sector led to declining prices. TCL Zhonghuan’s solar business reported revenue of $39.4 billion (¥284 billion), dragging down TCL Technology’s net profit by -$4.08 billion (¥-29.4 billion). However, industry self-regulation is stabilizing prices, and TCL Zhonghuan is restructuring operations to achieve quarterly recovery.
R&D Focus: Innovation Leadership
- R&D investment: $12.3 billion (¥88.7 billion), 5.4% of revenue
- Semiconductor Displays: Accelerated MLED R&D, mass-produced printed OLED, and ranked #2 globally in quantum dot display patents (2,913 filings).
- Solar Tech: Advanced N-type and large-format solar materials, building a BC collaboration ecosystem via IP commercialization.
- AI Integration: Deployed machine vision and AI models to optimize manufacturing and R&D efficiency.
Market Leadership Highlights
- Display Panels:
- #2 globally in TV and monitor panels
- #1 in LTPS laptops and tablets
- #3 in LTPS automotive panel area
- #4 in flexible OLED smartphone panels
- Solar Energy:
- Monocrystalline capacity expanded to 190GW
- Shipped ~125.8GW of solar materials (+10.5% YoY)
- 18.9% global silicon wafer market share (#1 position)
Strategic Growth Areas
- Large-Size Displays: Leveraged G11 production lines for ultra-large, 8K, and high-refresh-rate panels.
- Mid-Size Displays: Scaled Oxide/LTPS/A-Si technology integration to capture market share.
- Small-Size OLED: Focused on premium and custom solutions for key clients.
- Solar Expansion: Strengthened cost leadership in wafer production, diversified module offerings, and partnered for sustainable growth.
On April 29, TCL Technology Group Corporation announced its 2024 annual report. For the year, the company achieved:
- Revenue: $228.5 billion (¥1,648 billion), down 5.47% YoY
- Net profit attributable to shareholders: $2.16 billion (¥15.6 billion), down 29.38% YoY
- Adjusted net profit: $413 million (¥2.98 billion), down 70.78% YoY
- Operating cash flow: $40.9 billion (¥295 billion), up 16.6% YoY
Key Performance Drivers
Semiconductor Display Business: Record High Revenue
The display industry saw optimized supply-side dynamics, with growing demand for larger screens and AI applications driving panel value. TCL’s semiconductor display business achieved historic revenue of $144.6 billion (¥1,043 billion), up 25% YoY, with net profit reaching $8.64 billion (¥62.3 billion), a $8.65 billion (¥62.4 billion) improvement from 2023.
Solar Energy Business: Cyclical Challenges
Oversupply in the solar sector led to declining prices. TCL Zhonghuan’s solar business reported revenue of $39.4 billion (¥284 billion), dragging down TCL Technology’s net profit by -$4.08 billion (¥-29.4 billion). However, industry self-regulation is stabilizing prices, and TCL Zhonghuan is restructuring operations to achieve quarterly recovery.
R&D Focus: Innovation Leadership
- R&D investment: $12.3 billion (¥88.7 billion), 5.4% of revenue
- Semiconductor Displays: Accelerated MLED R&D, mass-produced printed OLED, and ranked #2 globally in quantum dot display patents (2,913 filings).
- Solar Tech: Advanced N-type and large-format solar materials, building a BC collaboration ecosystem via IP commercialization.
- AI Integration: Deployed machine vision and AI models to optimize manufacturing and R&D efficiency.
Market Leadership Highlights
- Display Panels:
- #2 globally in TV and monitor panels
- #1 in LTPS laptops and tablets
- #3 in LTPS automotive panel area
- #4 in flexible OLED smartphone panels
- Solar Energy:
- Monocrystalline capacity expanded to 190GW
- Shipped ~125.8GW of solar materials (+10.5% YoY)
- 18.9% global silicon wafer market share (#1 position)
Strategic Growth Areas
- Large-Size Displays: Leveraged G11 production lines for ultra-large, 8K, and high-refresh-rate panels.
- Mid-Size Displays: Scaled Oxide/LTPS/A-Si technology integration to capture market share.
- Small-Size OLED: Focused on premium and custom solutions for key clients.
- Solar Expansion: Strengthened cost leadership in wafer production, diversified module offerings, and partnered for sustainable growth.
