TCL Technology delivers strong results for first quarter 2021

SHENZHEN, China, May 12, 2021 /PRNewswire/ -- TCL Technology Group Corporation ("TCL Technology", formerly known as "TCL Group"; stock code 000100.SZ), a publicly listed company focusing on the semiconductor display and materials industry, has released its first quarter 2021 ("the reporting period") performance report. During the reporting period, the Company achieved operating income of around USD5 billion, a year-on-year increase of 133.91%; net profit was around USD503 million, a 10.96 times increase year-on-year; net profit attributable to shareholders was around USD374 million, a year-on-year increase of 488.97%.

Further, TCL CSOT and Tianjin Zhonghuan Electronic Information Group Co., Ltd. ("Zhonghuan Semiconductor") also performed well during the reporting period. TCL CSOT, TCL Technology's panel production subsidiary, achieved a net profit of around USD373 million in the first quarter, a year-on-year increase of around USD400 million, an increase of 29.12% month-on-month, and a 53% month-on-month increase in net profit. In addition, Zhonghuan Semiconductor, acquired by TCL which focuses on semiconductors and new energy, was included in the company's consolidated statements in October 2020. During the reporting period, Zhonghuan Semiconductor achieved a net profit of around USD115 million, a year-on-year increase of 100%, making it one of the driving forces of TCL Technology's performance growth.

This year, while continuously developing and expanding the strength of the company, TCL Technology actively responds to the challenges of climate change and develops a circular economy. TCL adheres to green manufacturing processes throughout the entire production and operation process cycles. For example, TCL CSOT G11 panel project has obtained the highest international standards in green buildings LEED Platinum ratings and TCL CSOT 23.8" FHD display also achieved the leading Es8.0 certification for its energy-saving design.

Looking forward, TCL Technology will continue to optimize the business structure and further focus resources on the development of its main business to achieve the strategic goal of leading the two industries including semiconductor display, semiconductor photovoltaics and semiconductor materials.

About TCL CSOT

TCL CSOT (TCL China Star Optoelectronics Technology Co., Ltd), is a company committed to innovation in semiconductor display. TCL CSOT has advanced display technologies such as Mini-LED, Micro-LED, OLED, and Ink Jet Printing. The products range from large, small & medium display panel and touch modules, interactive white board, video wall, automotive display, and gaming monitors, which further contributes to the core competence in the global panel industry.

About Tianjin Zhonghuan Semiconductor

Zhonghuan Semiconductor takes new energy materials and semi-conductor materials as its dual main business to drive development, including the R&D, production and sales of semi-conductor wafers, semi-conductor devices, solar wafers and solar cell modules, as well as the construction and operation of photovoltaic power stations. On July 15, 2020, TCL acquired Zhonghuan Semi-conductor, achieving the significant presence and strategic reserve in the field of semi-conductors and new energy.