TCL科技: 2023年一季度报告（英文版）

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TCL科技: 2023年一季度报告（英文版）

来源：证券之星时间：2023-05-12 20:16:17

First Quarter 2023 Report of TCL Technology Group Corporation

Stock Code: 000100 Stock Abbr.: TCL TECH. Announcement No.: 2023-031

【资料图】

TCL 科技集团股份有限公司

TCL Technology Group Corporation

First Quarter 2023 Report

April 27, 2023

First Quarter 2023 Report of TCL Technology Group Corporation

Content

First Quarter 2023 Report of TCL Technology Group Corporation

Section I Important Notices and Definitions

The Board of Directors (or the “Board”), the Supervisory Committee, directors, supervisors and

senior management of TCL Technology Group Corporation (hereinafter referred to as the “Company”)

hereby guarantee that this quarterly report is factual, accurate and complete, and shall be jointly and

severally liable for any misrepresentations, misleading statements, or material omissions therein.

Mr. Li Dongsheng, the Chairman of the Board, Ms. Li Jian, the person-in-charge of financial

affairs (Chief Financial Officer), and Mr. Peng Pan, the person-in-charge of the financial department,

hereby guarantee that the financial statements carried in this Report are factual, accurate and complete.

All the Company’s directors attended the board meeting for the review of this Report.

The future plans, development strategies or other forward-looking statements mentioned in this

Report shall NOT be considered as promises of the Company to investors. Therefore, investors are

kindly reminded to pay attention to possible investment risks.

This Report has not been audited. This Report has been prepared in both Chinese and English.

Should there be any discrepancies or misunderstandings between the two versions, the Chinese

version shall prevail.

First Quarter 2023 Report of TCL Technology Group Corporation

Definitions

Term Refers to Definition

Company, the Company, group Refers to TCL Technology Group Corporation

The “Reporting Period”, “current period” Refers to The period from January 1, 2023 to March 31, 2023.

TCL CSOT Refers to TCL China Star Optoelectronics Technology Co., Ltd.

TCL Zhonghuan Renewable Energy Technology Co., Ltd., a majority-

TCL Zhonghuan Refers to owned subsidiary of the Company listed on the Shenzhen Stock

Exchange (stock code: 002129.SZ)

GW Refers to Gigawatt, power unit for solar cells, 1GW = 1,000 megawatts

G12 Refers to size: 44,096mm², diagonal line: 295mm, side length: 210mm, with its

size 80.5% larger than the conventional M2

RMB Refers to Renminbi

First Quarter 2023 Report of TCL Technology Group Corporation

Section II Key Financial Information

I. Key accounting data and financial indicators

Indicate whether there is any retrospectively adjusted or restated datum in the table below

□ Yes  No

Q1 2023 Q1 2022 Change (%)

Revenue (RMB) 39,443,242,439 40,566,851,319 -2.77%

Net profit attributable to the company’s

-548,999,154 1,352,533,125 -140.59%

shareholders (RMB)

Net profits attributable to the company’s

shareholders before non-recurring gains and -729,931,586 611,554,193 -219.36%

losses (RMB)

Net cash generated from operating activities

(RMB)

Basic earnings per share (RMB/share) -0.0326 0.1008 -132.34%

Diluted earnings per share (RMB/share) -0.0322 0.0993 -132.43%

Weighted average return on equity (%) -1.09% 3.16% -4.25%

At the end of the reporting period December 31, 2022 Change (%)

Total assets (RMB) 379,396,714,372 359,996,232,668 5.39%

Owner’s equity attributable to the

company’s shareholders (RMB)

The total share capital at the end of the last trading session before the disclosure of this Report:

The total share capital at the end of the last trading session before the disclosure

of this Report: (share)

Fully diluted earnings per share based on the latest total share capital above:

Fully diluted earnings per share based on the latest total share capital above

-0.0322

(RMB/share)

II. Non-recurring profit and loss items and amounts

Applicable □ Not applicable

Unit: RMB

Amount in the reporting

Item

period

Gains and losses on disposal of non-current assets (inclusive of impairment allowance write-offs) 10,833,557

Government subsidies charged to current profits and loss (except for government subsidies

closely related to the Company’s normal business which comply with national policies and 341,941,846

regulations and are enjoyed on an ongoing basis according to certain standard quotas or quantities)

The profits and losses generated from changes in fair value arising from holding marketable

financial assets and marketable financial liabilities, as well as the investment-related income from

the disposal of marketable financial assets, marketable financial liabilities and available-for-sale 38,869,586

financial assets, except for the effective hedging business related to the Company’s normal

business operation.

Non-operating income and expenses other than the above 2,962,918

Less: Corporate income tax 68,908,196

Non-controlling interests (net of tax) 144,767,279

Total 180,932,432

Details of other profit and loss items that meet the definition of non-recurring profits and losses:

□ Applicable Not applicable

The Company has no other profit and loss items that meet the definition of non-recurring profits and losses.

Note on non-recurring profit and loss items listed in the Explanatory Announcement No. 1 on Information Disclosure for Companies

Offering Their Securities to the Public—Non-Recurring Gain/Loss defined as Recurring Gain/Loss items:

□ Applicable Not applicable

The Company does not have any non-recurring profit and loss items listed in the Explanatory Announcement No. 1 on Information

Disclosure for Companies Offering Their Securities to the Public—Non-Recurring Gain/Loss that are defined as recurring profit and

First Quarter 2023 Report of TCL Technology Group Corporation

loss items.

III. Changes of key accounting data and financial indicators and reasons therefor

Applicable □ Not applicable

Unit: RMB

Increase /

Balance Sheet items Ending balance Beginning balance decrease Reason for change

ratio (%)

Mainly due to the increase in bank

Receivables financing 3,502,980,188 1,103,127,764 217.5

acceptances held by the Company

Other non-current Mainly due to the increase in

financial assets investments in equity instruments

Mainly due to the increase in

Deferred income tax assets 2,333,080,519 1,753,887,430 33.0

deductible losses for the period

Non-current liabilities due Mainly due to the repayment of

within one year maturing liabilities

Mainly due to the expansion in

Long-term payables 1,533,196,765 887,762,713 72.7

consolidation scope

Mainly due to the receipt of

Deferred income 3,809,748,717 2,468,144,649 54.4

government subsidies

Due the business combinations under

Deferred income tax

liabilities

period

Increase /

January-March, January-March,

Income Statement items decrease Reason for change

ratio (%)

Mainly due to the decrease in

Other income 531,668,577 976,625,863 -45.6

amortization of government subsidies

Gain on changes in fair

Mainly due to the increase in change

value (loss is indicated by 151,543,005 -136,683,550 210.9

in fair value of financial assets

“-”)

Mainly due to provisions made for the

Asset impairment loss

-338,223,994 -246,385,486 37.3 diminution in value of inventory led

(loss is indicated by “-”)

by market price fluctuation

Increase /

Cash Flow Statement January-March, January-March,

decrease Reason for change

items 2023 2022

ratio (%)

Net cash used in investing Mainly due to the increase in recovery

-5,200,472,661 -12,591,690,089 -58.7

activities of investments

First Quarter 2023 Report of TCL Technology Group Corporation

Section III Management Discussion and Analysis

The global political and economic situation remains both complicated and challenging thus far

this year. With developed economies still experiencing inflation pressure, overseas economy growth

is expected to slow down, while China"s economy has generally shown sound momentum. In the face

of a complicated and volatile external business environment, the Company continues to maintain its

strategic position with a focus on developing semiconductor displays, new energy photovoltaic and

semiconductor materials along with other related semiconductor industries. On the basis of its

operating strategy of “enhancing the quality and efficiency of operations, playing to strengths whilst

shoring up weaknesses, accelerating global strategic development and driving development with

innovation”, the Company continues to improve its comparative competitiveness, strengthen risk

control and maintain robust operations.

During the reporting period, the Company registered revenue of RMB39.44 billion, representing

a decline of 2.8% year-on-year; net profit of RMB110 million; net profit attributable to shareholders

of the listed company of -RMB550 million; and a net operating cash flow of RMB4.5 billion. The

Company"s declines in performance are mainly due to the following reasons: the average price of

mainstream semiconductor display products was significantly lower than that during the same period

of last year, and industry profit margins hit cyclical lows, which resulted in the performance of the

semiconductor display business dropping significantly year-on-year. However, the Company has

managed to stabilize performance compared with the fourth quarter of last year, gradually improving

profitability in step with the continuously rising price of major products since the end of the first

quarter. During the reporting period, return on investment was significantly reduced in comparison

with that of the previous year due to the impact of project exit and revenue recognition. In terms of

new energy photovoltaic and semiconductor materials business, the Company continues to cement its

leadership positioning through advantages in products and technologies, registering rapid growth in

revenue and performance.

Semiconductor display business

During the first quarter, the semiconductor industry, as a whole, experienced seasonal lows, but

the supply-demand relationship tended to be sound, with the price of mainstream panels rebounding.

First Quarter 2023 Report of TCL Technology Group Corporation

Emphasizing cost efficiency in its operations, the Company continued to optimize its business and

product structure, driving the operational improvement of semiconductor display business, and

expedited the strategic shift from large-sized displays to full-sized displays. During the reporting

period, the Company’s semiconductor display business realized revenue of RMB15.12 billion,

recording a year-on-year decline of 24.5%; TCL CSOT sold 11,323,000 sq.m of display panels, up

In the field of large-sized displays, TCL CSOT sustained its premium products strategy to

consolidate its leading position in TV panels. By market share, the Company secured its top 2 position

in TV panels, of which it ranked No.1 in both 55-inch and 75-inch products, and top 2 in 65-inch

products, while being a top-tier player in commercial displays. The Company consistently took the

lead in trends related to large-sized displays in the industry, and more than 45% of the shipment area

of TV products are above 65-inch. The Company has enhanced the competitiveness of its mid-sized

products, and delivered products to IT brands through its t9 production line; during the reporting

period, the Company ranked No.1 in MNT e-sports displays and No.2 in LTPS tablets and LTPS

laptops by global market share, while maintaining the rapid development of vehicle-mounted device

business. In terms of small-sized products, TCL COST focused on differential technologies and

pushed ahead with product structure upgrading. The Company jumped to the second place among

LTPS mobile phones by global market share, supplying flexible LTPO OLED products for a number

of high-end models launched by various brands.

With a surging global digital economy, the Company is optimistic about the development and

industrial value of semiconductor displays as the key information carrier and major interactive

interface. The Matthew effect has further optimized the industry, top-tier enterprises have constantly

enhanced their economies of scale, laying a solid foundation for future long-term and healthy

development. Along with the steady price rebound of mainstream products, led by TV panels, the

industry mid-range ROE is expected to be restored, and the Company’s semiconductor display

business will also gradually experience operational improvements.

New energy photovoltaic and semiconductor materials business

In the first quarter, the photovoltaic industry increasingly improved its upstream materials supply.

The Company’s large-sized silicon wafers were in short supply, catalyzing the high-speed

First Quarter 2023 Report of TCL Technology Group Corporation

development of new energy photovoltaic materials. During the reporting period, TCL Zhonghua n

recorded revenue of RMB17.62 billion, represented an increase of 31.8% year-on-year, and net profit

of RMB2.46 billion, up 69.2% year-on-year.

TCL Zhonghuan seized the initiative for future development, fortified its competitive advantage

through its "G12 + Shingled PV" dual technology platform, and increased its capacity for advanced

manufacturing with a stabilized and strengthened supply chain, continuously improved its product

competitiveness as well as the scale of production and sales. At the end of the reporting period, the

Company"s total monocrystalline silicon capacity was up to 150GW, with the production utilization

rate climbing sharply month-over-month. The Company consolidated its leading position in the

global market share of photovoltaic silicon wafers and N-type wafers, and consistently developed

large-sized, flake-oriented and N-type technologies for photovoltaic materials. Using metrics such as

consumption rate of silicone materials per crystalline unit, monthly output per furnace, wafer output

per kg and other indicators, the Company has managed to maintain an industry leadership position

with the remarkable cost and market advantages of G12 strategic products. Upholding the concept of

differentiated development, the Company has built an intelligent plant for 25GW N-type TOPCON

batteries, working to integrate the advanced technologies of photovoltaic materials, imbrication

components and N-type TOPCON batteries, so as to enhance synergistic effects along the industrial

chain and strengthen the comprehensive competitiveness of new energy photovoltaic business.

With the aim of cementing a leadership position in new energy photovoltaic products, the

Company will continue to focus on the development of photovoltaic materials, building a

differentiated business ecosystem for batteries and components, and deepen the industry 4.0 system

and the application of flexible manufacturing.

Looking ahead to the year, the Company’s semiconductor display business is expected to see

improved operational performance aided by balanced supply and demand throughout the industry.

Driven by the high-speed development of the industry and TCL Zhonghuan’s competitive edges, the

new energy photovoltaic business will maintain its high-quality development, making contributions

to the steady growth of the Company. Through both internal development and M&As of the

semiconductor materials business, the Company will develop into a leader in semiconductor silicon

wafer production within China.

With a focus on a wide range of semiconductor businesses, including semiconductor displays,

First Quarter 2023 Report of TCL Technology Group Corporation

new energy photovoltaic and semiconductor materials, the Company will continue to seize

opportunities arising from the technical and manufacturing transformation of China and global energy

restructuring, so as to build its core competitive strength based on product and technology innovation,

giving full play to the advantages of lean management and economies of scale, leading to its

accelerated development into a leading international tech industry group.

First Quarter 2023 Report of TCL Technology Group Corporation

Section IV Shareholder Information

I. Table of the total number of ordinary shareholders and the number of preferred shareholders with

resumed voting rights as well as the shareholdings of the top 10 shareholders

Unit: Share

Total number of ordinary shareholders by Total number of preferred shareholders with resumed voting

the end of the reporting period rights by the end of the reporting period (if any)

Shareholdings of top 10 shareholders of ordinary shares

Number of Shares in pledge, marked or frozen

Number of shares

Name of Nature of Shareholding restricted

held at the

shareholder shareholder percentage (%) ordinary shares Status Shares

period-end

held

Domestic Put in pledge by

Li Dongsheng and 143,665,800

individual/Domes Li Dongsheng

his acting-in- 6.79% 1,159,085,019 610,545,822

tic general legal Put in pledge by

concert party 280,052,495

entity Jiutian Liancheng

Hong Kong

Foreign legal

Securities Clearing 4.52% 771,411,684

entity

Company Ltd.

Huizhou

Investment

State-owned legal

Holding Co., Ltd. 4.23% 722,144,427

entity

and its acting-in-

concert party

China Securities

Finance Domestic general

Corporation legal entity

Limited

CITIC Securities State-owned legal

Co., Ltd. entity

Wuhan Optics

Valley Industrial State-owned legal

Investment Co., entity

Ltd.

Guotai Junan State-owned legal

Securities Co., Ltd. entity

Foreign legal

UBS AG 1.27% 217,197,549 196,783,625

entity

Everbright

State-owned legal

Securities 1.24% 212,006,577 204,678,362

entity

Company Limited

GF Securities Co., Domestic general

Ltd. legal entity

Shareholdings of top 10 non-restricted ordinary shareholders

Number of non-restricted ordinary shares held at the end of Type of shares

Name of shareholder

reporting period Type Shares

RMB-

Hong Kong Securities Clearing

Company Ltd.

ordinary shares

RMB-

Huizhou Investment Holding Co., Ltd.

and its acting-in-concert party

ordinary shares

RMB-

Li Dongsheng and his acting-in-concert

party

ordinary shares

First Quarter 2023 Report of TCL Technology Group Corporation

RMB-

China Securities Finance Corporation

Limited

ordinary shares

RMB-

Wuhan Optics Valley Industrial

Investment Co., Ltd.

ordinary shares

RMB-

Goldman Sachs International - Self-

owned funds

ordinary shares

TCL Technology Group Corporation - RMB-

Ownership Plan (Phase I) ordinary shares

TCL Technology Group Corporation - RMB-

Ownership Plan (Phase II) ordinary shares

RMB-

Sinatay Life Insurance Co., Ltd. -

Conventional Product

ordinary shares

ICBC Credit Suisse Fund - Agricultural

RMB-

Bank of China - ICBC Credit Suisse

China Securities Financial Asset

ordinary shares

Management Plan

Mr. Li Dongsheng and Ningbo Jiutian Liancheng Equity Investment Partnership

(Limited Partnership) became persons acting in concert by signing the Agreement

Explanation on the above shareholders’ associations or on Concerted Action, holding 1,159,085,019 shares in total and becoming the

concerted actions largest shareholder of the Company.

Huizhou Investment Development Co., Ltd., and Huizhou Investment Holding

Co., Ltd. constitute persons acting in concert based on the ownership relationship.

As at the end of the Reporting Period, a shareholder of the Company, i.e., Huizhou

Investment Holding Co., Ltd. and its person acting in concert, i.e., Huizhou

Explanation on the top 10 ordinary shareholders participating Investment Development Co., Ltd., decreased the number of shares by 66,500,000

in securities margin trading (if any) shares due to their participation in the refinancing business; the shareholder

Wuhan Optical Valley Industrial Investment Co., Ltd. decreased the number of

shares by 280,620,000 shares due to its participation in the refinancing business.

II. Total number of preferred shareholders and shareholdings of the top 10 preferred shareholders

□ Applicable Not applicable

First Quarter 2023 Report of TCL Technology Group Corporation

Section V Other Significant Events

Applicable □ Not applicable

Unit: RMB"0,000

Ending contractual

Gain/loss amount as % of the

Beginning amount Ending amount

in Company’s ending net

Type of contract

Reportin assets

Contractua Transactio Contractua Transactio g Period Contractua Transactio

l amount n limit l amount n limit l amount n limit

contracts -3,066

Total 2,446,618 84,974 2,912,722 108,231 -3,066 21.11% 0.78%

Accounting policies and specific accounting principles

for hedging business during the Reporting Period and a

No significant change.

description of whether there have been significant

changes from those of the previous reporting period

During the reporting period, profit from change in fair value of hedged

items was RMB58.25 million; profit from settlement of maturing

Description of actual profits and losses during the

forward exchange contracts was RMB34.02 million; and profit arising

Reporting Period

from valuation of effective forward exchange contracts was -

RMB122.93 million.

During the Reporting Period, the Company"s main foreign exchange risk

exposures include exposures of assets and liabilities denominated in

foreign currencies arising from business such as outbound sales, raw

Description of the hedging effect material procurement and financing. The uncertain risks arising from the

exchange rate fluctuations were effectively hedged by derivative

contracts with the same purchase amounts and maturities in opposite

directions.

Title of announcement Date of disclosure Website for disclosure

Announcement on the Exhaustion of Proceeds from IPOs and

January 10, 2023

the Deregistration of Special Funding Accounts

Announcement on Capital Increase and Additional Share

Issuance of Subsidiary Zhonghuan Advanced Semiconductor www.cninfo.com.cn

January 20, 2023

Materials Co., Ltd. and the Acquisition of Xinxin

Semiconductor Technology Co., Ltd.

First Quarter 2023 Report of TCL Technology Group Corporation

Section VI Quarterly Financial Statements

I. Financial statements

Prepared by: TCL Technology Group Corporation

Unit: RMB

Item Ending balance Beginning balance

Current assets:

Monetary assets 38,048,025,406 35,378,501,261

Settlement reserves - -

Funds on loan - -

Held-for-trading financial assets 10,246,426,895 12,703,507,482

Derivative financial assets 251,359,134 361,034,230

Notes receivable 514,711,416 512,848,988

Accounts receivable 15,727,488,133 14,051,661,462

Receivables financing 3,502,980,188 1,103,127,764

Prepayments 3,573,085,834 3,593,856,572

Premiums receivable - -

Reinsurance accounts receivable - -

Reinsurance contract provisions receivable - -

Other receivables 3,178,673,010 4,033,248,387

Of which: Interests receivable - -

Dividends receivable 216,000,000 1,226,086

Financial assets purchased under sale-back agreement - -

Inventories 18,668,473,927 18,001,121,855

Contract assets 330,463,809 315,167,085

Held-for-sale assets - -

Non-current assets due within one year - -

Other current assets 6,521,842,373 5,438,935,717

Total current assets 100,563,530,125 95,493,010,803

Non-current assets:

Loans and advances to customers - -

Debt investments 848,232,539 741,703,137

Other debt investments - -

Long-term receivables 626,912,691 631,372,701

Long-term equity investments 28,442,902,804 29,256,215,804

Investments in other equity instruments 419,510,042 439,996,263

Other non-current financial assets 6,897,248,599 2,928,827,232

Investment property 1,010,441,283 946,449,125

Fixed assets 144,919,311,705 132,477,671,844

Construction in progress 46,302,522,741 52,053,833,629

Productive biological assets - -

Oil and gas assets - -

Right-of-use assets 5,437,319,261 5,110,123,904

Intangible assets 17,868,534,073 16,783,930,537

Development costs 2,493,497,183 3,179,207,056

Goodwill 10,341,857,559 9,161,852,161

Long-term deferred expenses 3,078,161,896 2,744,208,125

Deferred income tax assets 2,333,080,519 1,753,887,430

Other non-current assets 7,813,651,352 6,293,942,917

Total non-current assets 278,833,184,247 264,503,221,865

Total assets 379,396,714,372 359,996,232,668

Current liabilities:

First Quarter 2023 Report of TCL Technology Group Corporation

Short-term borrowings 10,494,805,699 10,215,910,963

Borrowings from the Central Bank 911,820,354 777,676,330

Borrowed funds 500,112,500 -

Held-for-trading financial liabilities 684,837,401 861,911,768

Derivative financial liabilities 74,642,812 70,734,905

Notes payable 7,907,085,234 6,365,659,580

Accounts payable 26,790,963,084 26,381,911,940

Advances from customers 660,363 1,402,178

Contract liabilities 2,586,278,480 2,336,008,164

Financial assets sold under repurchase agreements - -

Customer deposits and deposits from other banks and

financial institutions

Funds for brokering securities transaction - -

Funds for brokering securities underwriting - -

Remunerations payable 2,658,656,331 2,376,932,722

Taxes and levies payable 1,230,369,499 1,215,591,227

Other payables 23,671,698,141 24,190,353,350

Of which: Interests payable - -

Dividends payable 40,010,315 40,010,329

Service charges and commissions payable - -

Reinsurance accounts payable - -

Held-for-sale liabilities - -

Non-current liabilities due within one year 7,594,431,650 10,957,320,562

Other current liabilities 1,315,322,728 1,185,847,619

Total current liabilities 86,610,112,623 87,540,684,520

Non-current liabilities:

Insurance contract provisions - -

Long-term borrowings 128,772,688,397 118,603,164,839

Bonds payable 13,478,276,808 12,006,850,805

Of which: Preferred shares - -

Perpetual bonds - -

Lease liabilities 4,839,131,901 4,461,382,902

Long-term payables 1,533,196,765 887,762,713

Long-term employee compensation payable 482,150,813 472,538,409

Estimated liabilities 100,856,119 97,521,975

Deferred income 3,809,748,717 2,468,144,649

Deferred income tax liabilities 1,811,280,797 1,319,428,442

Other non-current liabilities - -

Total non-current liabilities 154,827,330,317 140,316,794,734

Total liabilities 241,437,442,940 227,857,479,254

Owner"s equity:

Capital share 17,071,891,607 17,071,891,607

Other equity instruments - -

Of which: Preferred shares - -

Perpetual bonds - -

Capital reserves 12,006,084,762 12,522,792,596

Less: Treasury share 1,314,581,308 1,314,581,308

Other comprehensive income -763,814,827 -811,821,600

Specific reserves 4,530,430 2,301,029

Surplus reserves 3,712,272,814 3,712,272,814

General risk reserve 8,933,515 8,933,515

Retained earnings 18,937,732,668 19,486,731,824

Total equity attributable to the owners of the parent

company

Non-controlling interests 88,296,221,771 81,460,232,937

Total owner"s equity 137,959,271,432 132,138,753,414

Total liabilities and owner"s equity 379,396,714,372 359,996,232,668

First Quarter 2023 Report of TCL Technology Group Corporation

Legal representative: Person-in-charge of Financial affairs: Person-in-charge of the Accounting Department:

Li Dongsheng Li Jian Peng Pan

Unit: RMB

Amount incurred in the current Amount incurred in the

Item

period previous period

I. Total revenue 39,465,731,391 40,597,535,003

Of which: Operating revenue 39,443,242,439 40,566,851,319

Interest income 22,488,952 30,683,684

Earned premiums - -

Service charge and commission income - -

II. Total costs 40,491,139,667 40,004,606,380

Of which: Operating cost 35,357,669,407 35,594,751,040

Interest expenditures 5,205,619 9,336,013

Service charge and commission

- -

expenditures

Surrender value - -

Net claims payment - -

Net insurance liability provisions accrued - -

Policy dividend expenditures - -

Reinsurance expenses - -

Taxes and levies 171,412,685 137,883,718

Sales expenses 520,726,236 471,927,285

Administrative expenses 937,229,625 756,873,715

R&D expenses 2,593,998,005 2,042,751,101

Financial expenses 904,898,090 991,083,508

Including: Interest expenses 1,145,570,837 999,858,819

Interest income 213,027,337 176,470,746

Plus: Other income 531,668,577 976,625,863

Return on investment (losses are indicated by "-") 765,964,042 661,221,895

Of which: Share of profit or loss of joint

ventures and associates

Income from derecognition of

- -

financial assets measured at amortised costs

Exchange gains (losses are indicated by "-") -2,828,841 14,068,652

Gain on net exposure hedging (losses are indicated

- -

by "-")

Gain on changes in fair value (losses are indicated

by "-")

Credit impairment losses (losses are indicated by "-

-23,968,551 5,829,571

Asset impairment losses (losses are indicated by "-

-338,223,994 -246,385,486

Income from asset disposal (losses are indicated by

-15,124,996 -4,567,331

"-")

III. Operating profit (loss is indicated by “-”) 43,620,966 1,863,038,237

Plus: Non-operating income 10,152,922 581,485,774

First Quarter 2023 Report of TCL Technology Group Corporation

Less: Non-operating expenses 3,266,785 8,873,689

IV. Gross profit (gross loss is indicated by “-”) 50,507,103 2,435,650,322

Less: Income tax expenses -60,849,759 89,681,571

V. Net profits (net losses are indicated by "-") 111,356,862 2,345,968,751

(1) Classification by business continuity

are indicated by "-")

- -

losses are indicated by "-")

(2) Classification by ownership

-548,999,154 1,352,533,125

company

VI. Other comprehensive income, net of tax 25,847,967 107,592,545

Other comprehensive income attributable to the owners

of the parent company, net of tax

(1) Other comprehensive income that will not be

-19,294,731 -18,244,588

reclassified to profit or loss

- -

benefit plans

subsequently reclassified into profits and losses under the 682,618 -

equity method

-19,977,349 -18,244,588

equity instruments

- -

credit risks

(2) Other comprehensive income that may

subsequently reclassified into profit and losses

-670,638 129,581

transferred to profits and losses under the equity method

- -

comprehensive income

- -

investments

financial statements

Other net comprehensive income attributable to

-22,158,806 49,223,706

minority interests, net of tax

VII. Total comprehensive income 137,204,829 2,453,561,296

Total comprehensive income attributable to the

-500,992,380 1,410,901,964

shareholders of the parent company

Total comprehensive income attributable to non-

controlling interests

VIII. Earnings per share:

(1) Basic earnings per share -0.0326 0.1008

(2) Diluted earnings per share -0.0322 0.0993

Legal representative: Person-in-charge of Financial affairs: Person-in-charge of the Accounting Department:

Li Dongsheng Li Jian Peng Pan

First Quarter 2023 Report of TCL Technology Group Corporation

Unit: RMB

Amount incurred in the current Amount incurred in the

Item

period previous period

I. Net cash generated from operating activities:

Proceeds from sale of commodities and rendering of

services

Net increase of deposits from customers, banks and

-414,994,865 579,446,754

other financial institutions

Net increase of borrowings from the Central Bank 134,144,024 -505,812,976

Net increase of borrowings from other financial

institutions

Cash received from collecting premiums for original

- -

insurance contracts

Net cash received for reinsurance business - -

Net increase of deposits and investments of

- -

policyholders

Cash received from interest, service charges and

commissions

Net increase of borrowed funds from banks and other

- -

financial institutions

Net increase of repurchase business funds - -

Net cash received from brokering securities transaction - -

Tax and levy rebates 1,661,519,549 1,801,281,700

Cash generated from other operating activities 3,130,400,647 1,752,565,605

Sub-total of cash generated from operating activities 33,907,833,453 36,628,353,168

Payments for commodities and services 23,587,210,982 25,746,314,393

Net increase of loans and advances to customers -558,602,998 -291,363,670

Net increase of deposits with the Central Bank, banks

and other financial institutions

Cash paid for claims for original insurance contracts - -

Net increase of funds on loan - -

Cash paid for interest, service charges and commissions - -

Cash paid for policy dividends - -

Cash paid to and for employees 2,733,093,133 3,158,375,360

Taxes and levies paid 915,275,257 806,447,479

Cash used in other operating activities 2,629,818,082 3,141,634,495

Sub-total of cash used in operating activities 29,412,476,915 32,764,399,287

Net cash generated from operating activities 4,495,356,538 3,863,953,881

II. Net cash used in investing activities:

Proceeds from disinvestments 15,215,716,206 9,653,344,653

Proceeds from return on investments 380,580,542 239,383,580

Net proceeds from disposal of fixed assets, intangible

assets and other long-term assets

Net proceeds from disposal of subsidiaries and other

- -

business units

Cash generated from other investing activities 1,451,281,370 50,123,919

Sub-total of cash generated from investment activities 17,086,294,392 9,946,274,735

Payments for the acquisition and construction of fixed

assets, intangible assets and other long-term assets

Payments for investments 13,350,111,306 11,495,911,476

First Quarter 2023 Report of TCL Technology Group Corporation

Net increase of pledged loans - -

Net payments for acquiring subsidiaries and other

- -

business units

Cash used in other investing activities 187,762,364 100,914,607

Subtotal of cash used in investing activities 22,286,767,053 22,537,964,824

Net cash used in investing activities -5,200,472,661 -12,591,690,089

III. Net cash generated from financing activities:

Capital contributions received 15,215,716,206 2,571,180,000

Of which: Capital contributions by non-controlling

interests to subsidiaries

Borrowings raised 38,716,274 18,821,994,041

Cash generated from other financing activities - -

Sub-total of cash generated from financing activities 1,451,281,370 21,393,174,041

Cash paid for debt repayment 17,086,294,392 13,689,241,447

Cash paid for distribution of dividends and profits or the

repayment of interest

Of which: Dividends and profits distributed by

subsidiaries to minority shareholders

Cash used in other financing activities 4,287,733,637 1,979,130,282

Subtotal of cash used in financing activities 24,109,212,434 16,779,702,353

Net cash generated from financing activities 3,261,004,745 4,613,471,688

IV. Effect of exchange rate changes on cash and cash

-124,222,607 -27,326,776

equivalents

V. Net increase in cash and cash equivalents 2,431,666,015 -4,141,591,296

Plus: Beginning balance of cash and cash equivalents 33,675,624,291 30,081,704,864

VI. Ending balance of cash and cash equivalents 36,107,290,306 25,940,113,568

Legal representative: Person-in-charge of Financial affairs: Person-in-charge of the Accounting Department:

Li Dongsheng Li Jian Peng Pan

II. Auditor’s report

Whether the First Quarter Report has been audited or not?

□ Yes  No

TCL Technology Group Corporation

Board of Directors

April 27, 2023

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