First Quarter 2026 Report of TCL Technology Group Corporation
Stock Code: 000100 Stock Abbr.: TCL TECH. Announcement No.: 2026-033
TCL 科技集团股份有限公司
TCL Technology Group Corporation
First Quarter 2026 Report
April 2026
First Quarter 2026 Report of TCL Technology Group Corporation
Content
First Quarter 2026 Report of TCL Technology Group Corporation
Section I Important Notices and Definitions
The Board of Directors (or the "Board"), the directors, 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 person-in-charge of the Company, Ms. Li Jian, the
person-in-charge of financial affairs (Chief Financial Officer), and Ms. Jing
Chunmei, the person-in-charge of the financial department, hereby guarantee that
the financial statements in this Report are factual, accurate, and complete.
All of the Company's directors attended the Board meeting for the review of
this First Quarter 2026 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 2026 Report of TCL Technology Group Corporation
Definitions
Term Refers to Definition
The "Company", the "Group",
Refers to TCL Technology Group Corporation
"TCL TECH.", or "we"
Reporting Period Refers to The period from January 1, 2026 to March 31, 2026.
TCL CSOT Refers to TCL China Star Optoelectronics Technology Co., Ltd.
TCL Zhonghuan Renewable Energy Technology Co., Ltd., a majority-owned
TZE Refers to subsidiary of the Company listed on the Shenzhen Stock Exchange (stock code:
Zhonghuan Advanced Refers to Zhonghuan Advanced Bandaoti Technology Co., Ltd.
Moka Technology Refers to Moka International Limited
Tianjin Printronics Circuit Corporation, a majority-owned subsidiary of the
TPC Refers to
Company listed on the Shenzhen Stock Exchange (stock code: 002134.SZ)
Highly Information Industry Co., Ltd., a holding subsidiary of the Company
Highly Refers to
listed on the National Equities Exchange and Quotations
Chuangke Photoelectrics Refers to Hunan Chuangke Photoelectrics Co., Ltd.
DKE Refers to DKE Holding Company Limited
CSRC Refers to The China Securities Regulatory Commission
SZSE Refers to Shenzhen Stock Exchange
RMB Refers to Renminbi
First Quarter 2026 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 2026 Q1 2025 Change (%)
Operating revenue (RMB) 43,454,292,275 40,075,565,888 8.43%
Net profits attributable to the
company's shareholders (RMB)
Net profits attributable to the
company's shareholders after
non-recurring gains and losses
(RMB)
Net cash generated from
operating activities (RMB)
Basic earnings per share
(RMB/share)
Diluted earnings per share
(RMB/share)
Weighted average return on Increased by 0.56 percentage
equity (%) points YoY
March 31, 2026 December 31, 2025 Change (%)
Total assets (RMB) 366,410,203,352 372,738,314,312 -1.70%
Equity attributable to
shareholders of the Company 63,684,356,235 61,432,756,524 3.67%
(RMB)
(II) Non-recurring profit and loss items and amount
Applicable □Not applicable
Unit: RMB
Item Amount in the Reporting Period
Gains and losses on disposal of non-current assets (inclusive of
impairment allowance write-offs)
Public grants charged to current gains and losses (except for public
grants that are closely related to the Company's daily operations,
comply with national policies, are granted based on determined 616,591,592
standards, and have a continuous impact on the Company's gains and
losses)
The profits or losses generated from changes in fair value arising
from financial assets and financial liabilities held by non-financial
enterprises and the profits or losses from the disposal of such
financial assets and financial liabilities, except for the effective
hedging business related to the company's normal business
operations
Non-operating income and expenses other than the above 142,961,493
Less: Amount affected by income tax 99,919,613
Amount affected by equity of minority shareholders (net of tax) 301,309,314
Total 401,604,713
First Quarter 2026 Report of TCL Technology Group Corporation
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.
Notes on non-recurring profit and loss items that are listed in the Explanatory Announcement No. 1 on Information Disclosure for
Companies Offering Their Securities to the Public—Non-Recurring Gain/Loss shall be used to define 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 loss items.
(III) Changes in key accounting data and financial indicators and reasons for such changes
Applicable □Not applicable
Increase/decrease
Balance Sheet items Ending balance Beginning balance Reasons for changing
ratio (%)
Held-for-trading Mainly due to the increase in wealth
financial assets management products
Other non-current Mainly due to the equity transfer
assets completed during the Reporting Period
Income Statement Increase/decrease
Current balance Prior balance Reasons for changing
items ratio (%)
Mainly due to the increase in share of
Return on investment 771,371,339 410,385,564 88%
profit from associates
Gain on changes in Mainly due to the changes in fair value
fair value of investments
Cash Flow Statement Increase/decrease
Current balance Prior balance Reasons for changing
items ratio (%)
Net cash generated
Mainly due to the increase in proceeds
from investing -10,586,883,805 -29,606,911,388 64%
from disinvestments
activities
Net cash generated
Mainly due to the decrease in financing
from financing -6,786,894,329 20,775,743,981 -133%
activities during the Reporting Period
activities
First Quarter 2026 Report of TCL Technology Group Corporation
Section III Management Discussion and Analysis
I. Overall Operating Performance of the Company During the Reporting Period
Since the start of the year, escalating international geopolitical conflicts and surging upstream
energy prices have reignited upward pressure on inflation. Against this backdrop, the momentum
of global economic growth has weakened, with macroeconomic uncertainties increasing
substantially. In the face of external challenges, the Company focused on three key business
pillars, including displays, new energy photovoltaics, and other silicon materials. We
continuously strengthened the operations barriers characteristic of high-tech, heavy-asset, and
long-cycle industries, anchored our leading strategy, and pursued sustainable high-quality
development.
During the Reporting Period, the Company achieved operating revenue of RMB 43.45 billion,
represented a year-on-year increase of 8.4%. Net profit attributable to shareholders of the
Company amounted to RMB 1.56 billion, represented a substantial year-on-year surge of 53.7%,
while operating cash flow reached RMB 11.39 billion. As of the end of the Reporting Period, the
Company's debt-to-asset ratio stood at 65.0%, an increase of 0.8 percentage points from the end
of the previous reporting period; cash and cash equivalents at the end of the Reporting Period
were RMB 20.60 billion.
II. Operations Performance of the Company's Core Businesses During the Reporting Period
The Company was deeply engaged in leading edge manufacturing industries characterized by
high technology, heavy assets, and long cycles with displays, new energy photovoltaics, and other
silicon materials at its core, and continuously promoted technological innovation and industrial
advancement supporting the strategic goals of global leadership.
(I) Display Business
In Q1 2026, the supply-demand dynamics of the global LCD panel industry improved
remarkably. The overall health of the industry enhanced, and it was entering a track of sound
development. On the demand side, the market demand remained resilient, supported by inventory
stocking in preparation for the FIFA World Cup and the continued implementation of China's
trade-in policy. TV panel prices generally rose this quarter, while prices for monitor and
notebook panels remained stable. However, following the second round of price increases by
First Quarter 2026 Report of TCL Technology Group Corporation
smartphone brands, there was a risk of a phased slowdown in end-user demand. On the supply
side, the industry maintained a strategy of on-demand production and precise capacity control,
effectively aligning with market rhythms and maintaining a dynamic supply-demand balance,
laying a solid foundation for stable operation and sustainable development.
During the Reporting Period, TCL CSOT achieved steady growth driven by its
balanced business layout. In the first quarter, it recorded operating revenue of RMB 25.18
billion and net profit of RMB 1.85 billion, with net profit attributable to shareholders of
TCL TECH. reached RMB 1.56 billion.
In the large-sized display field, TCL CSOT maintained a leading global position in
comprehensive competitiveness and profitability, with its status as an industry leader
further consolidated. The Company continued to promote high-end TV solutions centered on
HVA Ultra technology, leading the ultra-large-sized and high-end markets with picture quality
that transcended the limits of human visual perception.
In the medium-sized display segment, the business maintained rapid growth, with both
market share and core competitiveness enhanced simultaneously. MNT maintained its global
No. 2 ranking, with its market share rising by 3% year-on-year; meanwhile, its e-sports monitors
continued to hold the world's No. 1 position. Leveraging its technological advantages in HVA and
HFS, the Company has been the official strategic display equipment partner of the Intel Master
Challenge for three consecutive years. The notebook and vehicle-mounted segments also achieved
robust growth. Global notebook panel shipments rose to No. 4 worldwide, while LTPS vehicle-
mounted panel shipment area surged to No. 1 globally, marking a leapfrog breakthrough.
In the small-sized display sector, the Company focused on the mid-to-high-end market
with continuously enhanced product competitiveness. Boasting high image quality and low
power consumption, Super Pixel technology has been widely adopted in the flagship models of
the world's leading smartphone brands on a large scale, and was rapidly expanding to cover a
broader range of product lines.
The specialized display business further optimized its industrial layout through mergers,
acquisitions and strategic cooperation. TCL CSOT completed the strategic acquisition of
Chuangke Photoelectrics, integrated superior resources, and drove integrated innovation in
display and optoelectronic technologies. Joining forces with partners such as DKE, it advanced
the e-paper module projects, thereby filling gaps in the medium-sized specialized display
portfolio and accelerating the large-scale, standardized application of e-paper across diverse
scenarios.
First Quarter 2026 Report of TCL Technology Group Corporation
In terms of cutting-edge technology layout, the industrialization process of two strategic
tracks — printed OLED and MLED — advanced steadily.
The construction of Guangzhou G8.6 printed OLED production line (t8 Project) progressed
as planned. The main factory building is expected to be topped out in the second quarter, with the
move-in of main equipment to commence in the fourth quarter. The yield and quality of products
from the Wuhan G5.5 printed OLED production line (t12) continued to improve. Medical display
products have already achieved stable mass production, and IT category products will enter mass
production in the third quarter. In addition, the Company, in partnership with a world-leading
brand, unveiled a rollable display concept notebook. Its 16-inch screen can be seamlessly
extended to 21.5 or 23.8 inches, fully demonstrating the enormous potential of printed OLED
technology in driving next-generation display form factor innovation.
The full-chain layout of MLED was further improved. During the Reporting Period, the
equity transfer between the Company and Fujian Electronics & Information (Group) Co., Ltd. for
Fujian Zhaoyuan Optoelectronics Co., Ltd. was completed successfully, which was renamed
Fuzhou Huazhao Optoelectronics Co., Ltd. This acquisition enables vertical integration from LED
chips to display modules, which will further accelerate the large-scale implementation and
penetration of Mini/Micro LED in scenarios such as ultra-large-screen TVs, commercial displays
and intelligent vehicle-mounted cockpits.
During the Reporting Period, TCL CSOT continuously optimized its global industrial
layout and built a highly resilient and reliable global supply chain system, with overseas
business maintaining steady growth. Operations at the Indian base for TV and vehicle-mounted
displays have advanced steadily, with ongoing improvements in operating efficiency. At the
Vietnamese base, IT products have entered stable mass production and shipment, further
enhancing overseas delivery capacity and customer service standards.
Looking ahead, as industry concentration continues to rise and the supply-side landscape
keeps optimizing, the industry's ability to maintain stable profitability will be further strengthened.
As an industry leader, TCL CSOT will uphold the dual‑ engine strategy of "technological
innovation" and "brand value", continuously strengthen its leading position in the global display
industry, and drive high‑ quality development across the sector.
Moka Technology specializes in the ODM business for intelligent display terminal products
such as TVs, monitors, and commercial displays, and is the world's largest TV ODM
manufacturer. In Q1 2026, Moka Technology achieved operating revenue of RMB 4.58 billion.
First Quarter 2026 Report of TCL Technology Group Corporation
Its shipment volume of TV ODM business remained the top globally; the shipment volume of
monitor ODM increased by 12% year on year, ranking fourth globally.
(II) New Energy Photovoltaics Business
During the Reporting Period, the Company's photovoltaic materials business focused on
enhancing its competitive edge by aligning production with actual demand, pursuing stringent
cost efficiency, and further optimizing its flexible supply chain system. It achieved cost
reductions through technological iteration and process improvement, while tightly controlling
manufacturing expenses and various period costs by implementing end-to-end lean organizational
processes. By further deepening cooperation with strategic customers and strengthening product
differentiation advantages, the Company's photovoltaic materials achieved a shipment volume of
The Company's photovoltaic cell and module business pursued a dual approach of organic
growth and external acquisitions to continuously enhance its business capabilities. During the
Reporting Period, the Company's module shipment reached 2.9GW, a year-on-year increase of
over 50%. The Company was successively shortlisted and won bids for centralized procurement
projects of central state-owned enterprises, making certain breakthroughs in the central and state-
owned enterprise business sector. Meanwhile, the Company actively seized opportunities at the
bottom of the industry cycle, promoted the vertical extension and horizontal expansion of its
industrial chain through external acquisitions, thereby addressing business shortcomings.
(III) Other Silicon Materials Business
In line with its strategic goal of global leadership, the Company's silicon materials business
actively responded to key industrial transformation opportunities. It consolidated the competitive
advantages of its power products, bolstered the competitiveness foundation for high-value
products, and actively expanded overseas business to create differentiated competitiveness.
During the Reporting Period, the production and sales scale of the silicon materials business
continued to expand, achieving operating revenue of RMB 1.44 billion, a year-on-year increase of
(IV) Non-core business
First Quarter 2026 Report of TCL Technology Group Corporation
During the Reporting Period, Tianjin Printronics Circuit and Highly maintained stable
operations across their core businesses, while their financial and investment segments continued
to generate steady earnings.
Facing a severe and complex external environment, the Company will embrace the spirit of
"Forging Ahead to Conquer New Challenges". By adhering to the operational philosophy of
"Strategic Leadership, Innovation-Driven, Advanced Manufacturing, and Global Operations", the
Company will seize the historic opportunities presented by the advancement of the leading edge
manufacturing industry and transformation of the global energy structure to achieve sustainable
high-quality development and move toward global leadership.
First Quarter 2026 Report of TCL Technology Group Corporation
Section IV Use of the Capital Raised
□Applicable Not applicable
There was no instance of utilization of raised capital during the Reporting Period.
First Quarter 2026 Report of TCL Technology Group Corporation
Section V 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 preferred shareholders with
Total number of ordinary shareholders by
the end of the Reporting Period
Period
Shareholdings of top 10 shareholders of ordinary shares (excluding the lending of shares under refinancing)
Number of Shares in pledge, marked or
Shareholding
Nature of Number of restricted frozen
Name of shareholder percentage
shareholder shares held ordinary
(%) Status Number
shares held
Li Dongsheng Not applicable 0
Ningbo Jiutian Domestic
Liancheng Equity individual/Domestic 6.09% 1,266,680,807 674,839,553
Investment general legal entity In pledge 153,100,000
Partnership (Limited
Partnership)
Shenzhen Major
Industrial
Public legal entity 4.74% 986,292,106 986,292,106 Not applicable 0
Development Phase I
Fund Co., Ltd.
Hong Kong
Securities Clearing Foreign legal entity 3.78% 785,681,678 0 Not applicable 0
Company Ltd.
Huizhou Investment
Public legal entity 2.58% 535,767,694 0 Not applicable 0
Holding Co., Ltd.
Wuhan Optics Valley
Industrial Investment Public legal entity 1.20% 249,848,896 0 In pledge 124,000,000
Co., Ltd.
Perseverance Asset
Management
Fund, wealth
Partnership (Limited
management 0.90% 188,000,000 0 Not applicable 0
Partnership) - Gaoyi
product, etc.
Xiaofeng No. 2
Zhixin Fund
Bank of China
Limited - Huatai- Fund, wealth
Pinebridge CSI management 0.86% 179,276,240 0 Not applicable 0
Photovoltaic Industry product, etc.
ETF
TCL Technology
Group Corporation- Fund, wealth
Stock Ownership product, etc.
Plan
Industrial and
Commercial Bank of Fund, wealth
China - Huatai- management 0.80% 167,406,726 0 Not applicable 0
Pinebridge CSI 300 product, etc.
ETF
Shareholdings of top 10 non-restricted ordinary shareholders (excluding the lending of shares under refinancing and restricted shares
held by senior management)
First Quarter 2026 Report of TCL Technology Group Corporation
Type of shares
Name of shareholder Number of non-restricted shares held
Type of shares Quantity
RMB-
Hong Kong Securities Clearing Company denominated
Ltd. ordinary
shares
Li Dongsheng RMB-
denominated
Ningbo Jiutian Liancheng Equity Investment 591,841,254 591,841,254
ordinary
Partnership (Limited Partnership)
shares
RMB-
denominated
Huizhou Investment Holding Co., Ltd. 535,767,694 535,767,694
ordinary
shares
RMB-
Wuhan Optics Valley Industrial Investment denominated
Co., Ltd. ordinary
shares
RMB-
Perseverance Asset Management Partnership
denominated
(Limited Partnership) - Gaoyi Xiaofeng No. 188,000,000 188,000,000
ordinary
shares
RMB-
Bank of China Limited - Huatai-Pinebridge denominated
CSI Photovoltaic Industry ETF ordinary
shares
RMB-
TCL Technology Group Corporation-2025 denominated
Employee Stock Ownership Plan ordinary
shares
RMB-
Industrial and Commercial Bank of China - denominated
Huatai-Pinebridge CSI 300 ETF ordinary
shares
RMB-
Abu Dhabi Investment Authority – Own denominated
funds ordinary
shares
Among the top 10 shareholders, Mr. Li Dongsheng and Ningbo
Jiutian Liancheng Equity Investment Partnership (Limited
Partnership) became persons acting in concert by signing the
Note on the above shareholders' associations or concerted Agreement on Concerted Action. Mr. Li Dongsheng holds
actions 899,786,071 shares and Ningbo Jiutian Liancheng Equity Investment
Partnership (Limited Partnership) holds 366,894,736 shares,
representing 1,266,680,807 shares in total and becoming the largest
shareholder of the Company.
At the end of the Reporting Period, Wuhan Optics Valley Industrial
Explanation of the top 10 ordinary shareholders participating
Investment Co., Ltd., among the shareholders above, held certain
in securities margin trading (if any)
shares of the Company through a credit security account.
Note: The shareholder listed above as TCL Technology Group Corporation-2025 Employee Stock Ownership Plan represents the securities account
for the Company's employee stock ownership plan. The shares held under this account are subject to a 12-month lock-up period commencing from
November 6, 2025, during which no trading shall be conducted.
Participation of shareholders holding more than 5%, the top 10 shareholders, and the top 10 non-restricted shareholders in the
lending of shares under the refinancing business
□Applicable Not applicable
First Quarter 2026 Report of TCL Technology Group Corporation
Change in the top 10 shareholders and the top 10 non-restricted shareholders due to securities lending/returning under refinancing
as compared to the previous period
□Applicable Not applicable
(II) Total number of preferred shareholders and shareholdings of the top 10 preferred shareholders
□Applicable Not applicable
IV. Other Significant Events
Applicable □Not applicable
Technology Co., Ltd. held in aggregate by Guangdong Hengjian Investment Holding Co., Ltd., Guangzhou Chengfa
Xingguang Investment Partnership (Limited Partnership) and Science City (Guangzhou) Investment Group, by way of
share issuances and cash payments.
On March 30, 2026, the Company convened the 21st meeting of the 8th Board of Directors, at which it reviewed and
approved proposals including the Report (Draft) on Asset Purchase via Share Issuance and Cash Payment and Raising of
Supporting Funds of TCL Technology Group Corporation. The Company proposes to acquire, through share issuance and cash
payment, the 45% equity interest in Guangzhou China Star Optoelectronics Bandaoti Display Technology Co., Ltd.
(corresponding to a registered capital of RMB 7.875 billion) held by Guangdong Hengjian Investment Holding Co., Ltd.,
Guangzhou Chengfa Xingguang Investment Partnership (Limited Partnership) and Science City (Guangzhou) Investment Group
Co., Ltd., and to raise supporting funds concurrently.
The above matters were reviewed and approved at the Company's 2025 Annual General Meeting held on April 24, 2026, and
the Company is proceeding with the relevant matters in an orderly manner.
First Quarter 2026 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:
Cash and cash equivalents 21,787,856,313 30,460,060,493
Held-for-trading financial assets 25,093,411,353 14,473,193,131
Derivative financial assets 45,325,549 78,957,405
Notes receivable 199,089,202 480,225,462
Accounts receivable 20,244,993,133 22,153,002,606
Receivables financing 284,671,277 625,788,752
Prepayments 2,847,204,113 1,909,443,641
Other receivables 3,283,717,482 3,500,621,513
Including: Dividends receivable 2,807,610 424,441,285
Inventories 20,357,706,451 18,370,708,289
Contract assets 385,518,416 385,576,416
Held-for-sale assets 363,065,629
Non-current assets due within one year 2,088,309,443 1,564,945,242
Other current assets 8,475,150,063 8,411,623,798
Total current assets 105,092,952,795 102,777,212,377
Non-current assets:
Debt investments 576,326,999 578,158,579
Long-term receivables 91,207,095 120,628,033
Long-term equity investments 23,738,591,438 23,349,193,104
Investments in other equity instruments 176,335,401 356,455,767
Other non-current financial assets 3,629,853,342 3,172,659,077
Investment properties 432,939,269 401,873,017
Property, Plant and equipment 162,600,655,432 165,003,155,646
Construction in progress 17,930,431,670 16,176,848,470
Right-of-use assets 4,483,953,814 6,189,174,496
Intangible assets 18,416,559,958 18,467,310,369
Development costs 1,120,135,105 1,204,955,478
Goodwill 11,436,177,181 11,409,749,045
Long-term deferred expenses 2,486,902,673 2,282,883,407
Deferred tax assets 2,985,023,897 2,936,332,280
Other non-current assets 11,212,157,283 18,311,725,167
Total non-current assets 261,317,250,557 269,961,101,935
Total assets 366,410,203,352 372,738,314,312
Current liabilities:
Short-term borrowings 9,596,818,988 7,552,523,460
Borrowings from the Central Bank 29,887,683 29,756,431
Held-for-trading financial liabilities 254,908,868 235,716,703
Derivative financial liabilities 45,880,973 50,434,753
Notes payable 7,547,742,980 6,465,600,185
Accounts payable 33,540,699,579 32,251,944,054
Advances from customers 5,384,384 6,823,420
First Quarter 2026 Report of TCL Technology Group Corporation
Contract liabilities 1,503,491,703 2,009,842,277
Customer deposits and deposits from
other banks and financial institutions
Employee compensation payable 4,966,799,007 4,966,488,419
Taxes and levies payable 1,245,369,984 1,238,333,745
Other payables 17,414,476,170 17,715,637,558
Including: Dividends payable 13,248,740 48,248,756
Held-for-sale liabilities 71,510,148
Non-current liabilities due within one
year
Other current liabilities 1,626,897,874 1,662,143,866
Total current liabilities 107,840,788,601 105,531,252,381
Non-current liabilities:
Long-term borrowings 112,266,361,757 116,139,349,491
Bonds payable 7,984,166,666 7,981,874,250
Lease liabilities 4,049,730,956 4,148,597,798
Long-term payables 1,376,035,211 1,388,758,641
Long-term employee compensation
payable
Provision for liabilities 238,324,096 231,480,076
Deferred income 2,814,040,646 2,151,175,867
Deferred tax liabilities 1,657,408,547 1,775,607,133
Other non-current liabilities 17,934,506 25,635,061
Total non-current liabilities 130,425,452,347 133,864,083,620
Total liabilities 238,266,240,948 239,395,336,001
Owner's equity:
Share capital 20,800,862,447 20,800,862,447
Other equity instruments 997,630,000
Including: Perpetual bonds 997,630,000
Capital reserves 13,810,362,042 14,155,724,550
Less: Treasury share 1,499,481,826 1,503,652,075
Other comprehensive income -1,004,023,599 -1,042,359,133
Specific reserves 5,971,438 5,597,597
Surplus reserves 4,096,815,620 4,096,815,620
General risk reserve 8,933,515 8,933,515
Retained earnings 26,467,286,598 24,910,834,003
Total equity attributable to the owners of
the parent company
Non-controlling interests 64,459,606,169 71,910,221,787
Total owners' equity 128,143,962,404 133,342,978,311
Total liabilities and owners' equity 366,410,203,352 372,738,314,312
Legal representative: Person-in-charge of financial affairs: Person-in-charge of the financial
Li Dongsheng Li Jian department: Jing Chunmei
First Quarter 2026 Report of TCL Technology Group Corporation
Unit: RMB
Item Amount incurred in the current period Amount incurred in the previous period
I. Total revenue 43,477,821,237 40,119,483,879
Including: Operating revenue 43,454,292,275 40,075,565,888
Interest income 23,528,962 43,917,991
II. Total costs 43,520,098,202 40,034,031,513
Including: Operating cost 38,023,599,166 34,770,303,229
Interest expenditures 411,121 3,394,533
Taxes and levies 250,796,504 235,686,109
Selling and distribution
expenses
Administrative expenses 1,126,319,360 1,182,211,685
R&D expenses 2,217,816,895 2,141,488,676
Financial expenses 1,303,086,846 1,131,256,256
Including: Interest expenses 969,465,736 1,227,945,004
Interest income 56,212,126 126,151,505
Add: Other income 321,820,527 443,667,749
Return on investment (losses are
indicated by "-")
Including: Return on investment
in joint ventures and associates
Exchange gains (losses are
indicated by "-")
Gain on changes in fair value
(losses are indicated by "-")
Credit impairment loss (losses are
-3,523,177 -12,143,461
indicated by "-")
Asset impairment loss (losses are
-835,062,580 -776,773,537
indicated by "-")
Asset disposal income (losses are
indicated by "-")
III. Operating profit (losses are indicated by
"-")
Add: Non-operating income 7,092,027 11,671,427
Less: Non-operating expenses 3,201,091 41,571,815
IV. Gross profit (gross loss is indicated by
"-")
Less: Income tax expenses 15,677,562 177,179,324
V. Net profits (net losses are indicated by "-
")
(I) Classified by continuity of operations
operations (net losses are indicated by "-")
operations (net losses are indicated by "-")
(II) Classification by ownership
First Quarter 2026 Report of TCL Technology Group Corporation
of the parent company
-948,496,065 -805,042,837
controlling interests
VI. Other comprehensive income, net of tax 68,858,125 -84,831,631
Other comprehensive income attributable
to the owners of the parent company, net of 38,335,534 -113,612,587
tax
(I) Other comprehensive income that
cannot be subsequently reclassified into -10,606,690 5,892,927
profits or losses
-7,979,968 -114,396
remeasurement of defined benefit plans
cannot be subsequently reclassified into 5,829,012
profits and losses under the equity method
-2,626,722 178,311
investments in other equity instruments
enterprise's own credit risks
(II) Other comprehensive income that
may subsequently be reclassified into 48,942,224 -119,505,514
profits or losses
can be transferred to profits and losses 229,697 -107,212,356
under the equity method
investments
reclassified into other comprehensive
income
other debt investments
currency financial statements
Other comprehensive income attributable
to non-controlling interests, net of tax
VII. Total comprehensive income 676,814,655 122,702,368
Total comprehensive income attributable
to the shareholders of the parent company
Total comprehensive income attributable
-917,973,474 -776,261,881
to non-controlling interests
VIII. Earnings per share:
(I) Basic earnings per share 0.0692 0.0545
(II) Diluted earnings per share 0.0682 0.0539
Legal representative: Person-in-charge of financial affairs: Person-in-charge of the financial
Li Dongsheng Li Jian department: Jing Chunmei
First Quarter 2026 Report of TCL Technology Group Corporation
Unit: RMB
Item Amount incurred in the current period Amount incurred in the previous period
I. Net cash generated from operating
activities:
Proceeds from the sale of commodities and
rendering of services
Net increase of deposits from customers,
-131,454,837 139,860,802
banks, and other financial institutions
Net increase of borrowings from the
Central Bank
Cash received from interest, service fees
and commission
Tax and levy rebates 2,491,906,539 1,289,243,738
Cash generated from other operating
activities
Sub-total of cash generated from operating
activities
Payments for commodities and services 33,986,294,482 29,627,034,445
Net increase of loans and advances to
customers
Net increase of deposits with the Central
-48,596,022 82,639,406
Bank, banks, and other financial institutions
Cash paid for interest, service charges and
commissions
Cash paid to and for employees 3,800,798,164 3,432,782,131
Taxes and levies paid 1,016,892,674 1,272,574,824
Cash used in other operating activities 4,202,119,044 3,831,631,686
Sub-total of cash used in operating activities 42,957,992,426 38,365,236,392
Net cash generated from operating activities 11,394,756,856 12,074,907,584
II. Cash flow generated from investing
activities:
Proceeds from disinvestments 33,524,542,737 21,212,791,964
Proceeds from return on investments 1,172,246,879 671,013,734
Net proceeds from disposal of fixed assets,
intangible assets, and other long-term assets
Cash generated from other investing
activities
Sub-total of cash generated from investment
activities
Payments for the acquisition and
construction of fixed assets, intangible assets 5,240,054,252 5,194,578,467
and other long-term assets
Payments for investments 38,482,593,256 45,778,264,627
Net payments for acquiring subsidiaries
and other business units
Cash used in other investing activities 138,089,987 565,696,165
Subtotal of cash used in investing activities 45,618,168,764 51,538,539,259
Net cash generated from investing activities -10,586,883,805 -29,606,911,388
III. Cash flow generated from financing
activities:
Capital contributions received 1,548,453,718
First Quarter 2026 Report of TCL Technology Group Corporation
Including: Capital contributions by non-
controlling interests to subsidiaries
Borrowings raised 13,120,757,091 35,183,666,808
Cash generated from other financing
activities
Sub-total of cash generated from financing
activities
Cash paid for debt repayment 15,053,848,171 13,246,057,298
Cash paid for distribution of dividends and
profits or repayment of interests
Including: Dividend and profit paid by
subsidiaries to minority shareholders
Cash used in other financing activities 5,301,603,828 283,474,003
Subtotal of cash used in financing activities 21,458,815,207 14,890,046,218
Net cash generated from financing activities -6,786,894,329 20,775,743,981
IV. Effect of exchange rate changes on cash
and cash equivalents
V. Net increase in cash and cash equivalents -5,970,372,150 3,322,590,453
Add: Cash and cash equivalents at the
beginning of the period
VI. Cash and cash equivalents at the end of
the period
Legal representative: Person-in-charge of financial affairs: Person-in-charge of the financial
Li Dongsheng Li Jian department: Jing Chunmei
(II) Adjustments to financial statement items at the beginning of the year of the first
implementation of the new accounting standards, which have been implemented since
□Applicable Not applicable
(III) Auditor's Report
Whether the First Quarter Financial Report has been audited or not?
□Yes No
The Company's First Quarter Financial Report has not yet been audited.
TCL Technology Group Corporation
The Board of Directors
April 29, 2026
