Third Quarter 2026 Report of TCL Technology Group Corporation
Stock Code: 000100 Stock Abbr.: TCL TECH. Announcement No.: 2026-093
TCL 科技集团股份有限公司
TCL Technology Group Corporation
Third Quarter 2026 Report
October 2026
Third Quarter 2026 Report of TCL Technology Group Corporation
Content
Third 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 Third 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.
Third Quarter 2026 Report of TCL Technology Group Corporation
Definitions
Term Refers to Definition
The “Company”, the “Group”, “TCL
Refers to TCL Technology Group Corporation
TECH.”, “TCL”, or “we”
The "Reporting Period", "current
Refers to The period from July 1, 2026 to September 30, 2026
period"
TCL CSOT Refers to TCL China Star Optoelectronics Technology Co., Ltd.
TCL Zhonghuan Renewable Energy Technology Co., Ltd., a majority-
TZE Refers to owned subsidiary of the Company listed on the Shenzhen Stock Exchange
(stock code: 002129.SZ)
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)
t1 Refers to The generation 8.5 (or G8.5) TFT-LCD production line at TCL CSOT
The generation 8.5 (or G8.5) TFT-LCD (oxide) production line at TCL
t2 Refers to
CSOT
t3 Refers to The generation 6 (or G6) LTPS-LCD panel production line at Wuhan CSOT
The generation 6 (or G6) flexible LTPS-AMOLED panel production line at
t4 Refers to
Wuhan CSOT Bandaoti
t5 Refers to The generation 6 (or G6) new display production line at Wuhan CSOT
The generation 11 (or G11) new TFT-LCD display production line at
t6 Refers to
Shenzhen CSOT Bandaoti
The generation 11 (or G11) new ultra high definition display production line
t7 Refers to
at Shenzhen CSOT Bandaoti
t8 Refers to The generation 8.6 (or G8.6) printed OLED production line at TCL CSOT
The generation 8.6 (or G8.6) new oxide display production line at
t9 Refers to
Guangzhou CSOT
t10 Refers to The generation 8.5 (or G8.5) TFT-LCD production line at Suzhou CSOT
t11 Refers to The generation 8.5 (or G8.5) TFT-LCD production line at Guangzhou CSOT
t12 Refers to The generation 5.5 (or G5.5) printed OLED production line at Wuhan CSOT
RMB Refers to Renminbi
Third 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
From the beginning of
Q3 2026 Change the year to the end of Change
the reporting period
Operating revenue
(RMB)
Net profits attributable
to the company’s 1,312,164,408 12.80% 5,120,437,375 68.06%
shareholders (RMB)
Net profits attributable
to the company's
shareholders after non- 1,012,564,865 16.37% 4,152,447,182 70.96%
recurring gains and
losses (RMB)
Net cash generated
from operating — — 24,789,987,156 -26.74%
activities (RMB)
Basic earnings per
share (RMB/share)
Diluted earnings per
share (RMB/share)
Weighted average Decrease by 0.68 Increase by 1.97
return on equity (%) percentage points YoY percentage points YoY
September 30, 2026 December 31, 2025 Change
Total assets (RMB) 369,550,646,990 372,738,314,312 -0.86%
Equity attributable to
shareholders of the 68,931,546,690 61,432,756,524 12.21%
Company (RMB)
(II) Non-recurring profit and loss items and amount
Applicable □Not applicable
Unit: RMB
Amount from the beginning of the year to
Item Amount in the Reporting Period
the end of the Reporting Period
Gains and losses on disposal of non-
current assets (inclusive of impairment 128,666,471 660,734,374
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, 742,884,927 1,968,735,163
are granted based on determined
standards, and have a continuous impact
on the Company's gains and losses)
Third Quarter 2026 Report of TCL Technology Group Corporation
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 -625,471 -684,522
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
-424,611,315 -261,679,867
than the above
Less: Amount affected by income tax 127,728,823 415,850,627
Amount affected by equity of
minority shareholders (net of tax)
Total 299,599,543 967,990,193
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 defining 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 as recurring profit and 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
Unit: RMB
Beginning Increase/decrease
Balance Sheet items Ending balance Reason for change
balance ratio (%)
Mainly due to increased purchases
Cash and cash equivalents 15,338,339,927 30,460,060,493 -49.6% of liquid, low-risk wealth
management products
Held-for-trading financial Mainly due to the increase in
assets wealth management products
Mainly due to increased strategic
Inventories 25,328,162,578 18,370,708,289 37.9%
inventory stocking
Mainly due to new investments
Other non-current financial
assets
the Reporting Period
Mainly due to increased
Construction in progress 21,030,010,165 16,176,848,470 30.0% investment in t8 during the
Reporting Period
Mainly due to the recognition of
deferred tax assets arising from
Deferred tax assets 3,951,985,419 2,936,332,280 34.6%
deductible temporary differences
during the Reporting Period
Mainly due to subsidiaries newly
included in the scope of
Notes payable 9,912,403,757 6,465,600,185 53.3%
consolidation during the Reporting
Period
Mainly due to an increase in
Contract liabilities 3,047,398,515 2,009,842,277 51.6%
advances received from customers
Third Quarter 2026 Report of TCL Technology Group Corporation
during the Reporting Period
Increase/decrease
Income Statement items Current balance Prior balance Reason for change
ratio (%)
Mainly due to the decrease in
Other income 1,039,130,027 1,767,528,756 -41.2%
public grants
Mainly due to the increase in
Gain on changes in fair value 1,270,731,744 595,629,955 113.3% income from wealth management
products
Mainly due to the recognition of
Non-operating expenses 555,128,400 176,001,781 215.4% provisions during the Reporting
Period
Mainly due to the recognition of
Income tax expense -485,358,133 529,171,588 -191.7% deferred income tax expenses
arising from temporary differences
Increase/decrease
Cash Flow Statement items Current balance Prior balance Reason for change
ratio (%)
Mainly due to the decrease in
Net cash generated from
-18,404,532,769 -11,998,268,686 53.4% financing activities during the
financing activities
Reporting Period
Third 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.
In the first three quarters of 2026, the Company achieved operating revenue of RMB 138.7
billion, representing a 2.03% increase YoY. Net profit attributable to shareholders reached RMB
end of the Reporting Period, the Company’s debt-to-asset ratio stood at 66.6%, an increase of 2.4
percentage points from the end of the previous year, due to acquisitions of minority interests in
subsidiaries, cash dividend payments and other factors; cash and cash equivalents at the end of the
Reporting Period totaled RMB 14 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 the first three quarters of 2026, end-market demand in the global display industry remained
under pressure overall, while the product mix continued to upgrade and performance varied across
application markets. Rising prices for memory and other components pushed up device costs,
affecting the timing of purchases by some smartphone and notebook brands. Meanwhile, the shift
toward larger TVs, the adoption of multiple in-vehicle displays, and the expansion of high-end
display applications continued to support structural demand. In the third quarter, peak-season
inventory stocking by TV brands and demand-based production by major panel manufacturers
kept TV panel supply and demand broadly balanced. Prices for major TV panel sizes stabilized in
Third Quarter 2026 Report of TCL Technology Group Corporation
September following modest declines in July and August, while monitor and notebook panel
prices remained generally stable. Flexible OLED smartphone panel prices remained under
pressure amid cautious purchasing by brands and market competition. Rising upstream costs
placed greater demands on panel manufacturers’ product mix optimization, supply chain
management, and operational efficiency.
During the Reporting Period, TCL CSOT remained focused on value-oriented operation,
responding to market changes through demand-based production, product mix optimization, and
efficiency improvements to maintain operational resilience. In the first three quarters, it recorded
operating revenue of RMB 76.73 billion and net profit of RMB 5.71 billion, with net profit
attributable to shareholders of TCL TECH. reaching RMB 5.04 billion. In the third quarter, it
recorded operating revenue of RMB 26.46 billion, up 5% QoQ, and net profit of RMB 1.81
billion, with net profit attributable to shareholders of TCL TECH. reaching RMB 1.75 billion. In
August 2026, the Company completed the acquisition of a 45% equity interest in Guangzhou
CSOT Bandaoti. Following the transaction, TCL TECH. directly and indirectly controlled 100%
of its equity. From September 2026, a higher proportion of Guangzhou CSOT Bandaoti’s net
profit was attributable to shareholders of TCL TECH.
The large-sized display business optimized its product mix to meet demand for larger and
higher-end displays, reinforcing its earnings base. The Company leveraged the scale and
efficiency advantages of its high-generation production lines, adjusted production schedules to
customer orders, and strengthened coordination among production lines and cost controls to
improve operational efficiency. Building on its HVA technology, the Company developed three
product series: HVA Green for high energy efficiency, HVA Pro for high image quality, and
HVA Ultra for innovative high-end applications. These products catered to different customer
needs, enhanced product competitiveness, and strengthened the Company’s ability to withstand
price and cost fluctuations.
The medium-sized display business continued to expand in the IT and automotive markets,
optimizing its business mix. In the IT segment, the Company rose to second place globally in
notebook panel market share in the second quarter. Notebook panel sales volume increased by
brand customers continued to strengthen. The Company ranked second globally in monitor panel
market share. Within this segment, its gaming monitor panels have consistently ranked first
globally in both shipment volume and market share since 2022. On average, one out of every
three gaming monitors features a TCL CSOT panel. Leveraging HVA, HFS, printed OLED, and
other technologies, the Company broadened its product portfolio for consumer and professional
gaming applications to meet different customer requirements for image quality, refresh rates, and
response times. The automotive display business maintained strong growth, with sales volume
Third Quarter 2026 Report of TCL Technology Group Corporation
increasing by 45% YoY in the first three quarters and by 20% QoQ in the third quarter. By
shipment area, the Company maintained its third-place global ranking in the overall automotive
panel market and ranked first globally in LTPS automotive panel market share. Its business scale
and customer coverage continued to expand.
The small-sized display business increased its LCD market share and drove operational
improvements for its flexible OLED business. The Company’s global market share ranking in
LCD smartphone panels rose from third in the first half of the year to second in the third quarter.
Sales volume of flexible OLED smartphone panels recovered quarter by quarter from the second
quarter. To improve operating performance, the Company increased product volumes to meet
demand from key customers and a broader range of applications, while raising yields, reducing
material costs, and improving its product mix. The Company led the development of an
electronics industry standard for testing creases in flexible display devices using the image
reflection method. The standard took effect on September 1, providing a quantitative basis for the
development and quality evaluation of foldable display products.
The Company continued to commercialize printed OLED and MLED technologies and build
related production capacity. At the Wuhan t12 production line, several printed OLED products
were being mass-produced and shipped on a stable basis. Its 27-inch printed OLED UHD 120Hz
desktop display solution won the “OLED Display Solution Gold Award” at IFA 2026. The main
production building of the Guangzhou t8 project entered the Super Clean phase on September 17,
with cleanroom acceptance and major equipment move-in progressing as planned. For MLED,
Phase II of the Suzhou COB direct display project entered mass production in August and
continued to ramp up capacity. Construction of the Shenzhen MLED project progressed as
planned. Once completed, the project will strengthen coordination across the LED chip,
packaging, and direct display segments of the industry chain. For Micro LED, the Company
successfully lit up relevant products using its proprietary T-Pixel technology and continued to
advance technology development and product validation.
Looking ahead, TCL CSOT will remain focused on value-oriented operation. It will
consolidate the large-sized display business’s profitability leadership through demand-based
production and cost management, increase the contribution from the medium-sized display
business through product upgrades and customer expansion, and improve the small-sized display
business’s operating performance through yield improvements, material cost reductions, and
product mix optimization. It will also continue to advance customer validation, improve mass-
production yields, and optimize costs to accelerate the commercialization of printed OLED and
MLED. In emerging fields such as glass-based advanced packaging, optical communications, and
perovskites, the Company will proceed in phases under its established plans. Technology
validation and customer demand will guide these efforts, with investment returns also taken into
Third Quarter 2026 Report of TCL Technology Group Corporation
account, as the Company develops long-term growth drivers.
Moka Technology’s core business is the ODM production of intelligent display terminal
products, including TVs, monitors, and commercial displays. It is a high-tech manufacturer with a
global manufacturing footprint and the world’s largest TV ODM manufacturer. During the
Reporting Period, Moka Technology achieved operating revenue of RMB 6.01 billion. Its TV
ODM business maintained the world’s highest shipment volume, while its monitor ODM business
ranked fifth globally by shipment volume. Commercial display shipments increased by 37% YoY,
creating further opportunities for business growth. To support its business development, Moka
Technology further strengthened its global manufacturing footprint, continued to increase R&D
investment, optimized its customer mix, and advanced product upgrades to enhance its overall
competitiveness.
(II) New Energy Photovoltaics Business
In the first three quarters of 2026, new domestic photovoltaic installations fell sharply
following policy changes. Overseas demand maintained steady growth overall, although regional
divergence intensified. The exit of excess capacity had yet to gain momentum, and the
photovoltaic industry continued to face a supply-demand imbalance.
The Company’s new energy photovoltaics business continued to pursue its strategy of
measured integration and global expansion, consolidating its strengths in photovoltaic materials,
strengthening its capabilities in cells and modules, enhancing synergies across the industry chain,
and optimizing its product and customer mix to improve operational efficiency and market
competitiveness. From the beginning of the year to the end of the Reporting Period, the
Company’s new energy photovoltaics business achieved sales revenue of RMB 18.61 billion. The
module business accounted for 50.1% of this revenue, an increase of 3.2 percentage points from
the first half of the year.
The photovoltaic materials business maintained demand-based production, continued to
reduce costs and improve efficiency, and optimized its product and customer mix. During the
Reporting Period, the Company’s wafer business reduced cash costs by 17.3% YoY through AI
applications, supply chain optimization, and tighter controls over energy consumption and
workforce productivity. Leveraging its advantages in raw materials, processes, and manufacturing,
the Company increased the proportion of X- and P-series products to meet the cell and module
Third Quarter 2026 Report of TCL Technology Group Corporation
segments’ requirements for higher efficiency and differentiated technologies. From January to
September 2026, the Company shipped 83.4 GW of photovoltaic wafers, ranking first in the
industry by market share. Overseas shipments accounted for 13.8% of total shipments and
increased by 355% YoY.
The cell and module business continued to optimize its product and customer mix and
strengthen its global operations, improving both overall competitiveness and market share.
Building on its brand portfolio, including TCL Solar and SunPower, the module business refined
its product mix with multi-cut cell modules, BC modules, and other products to strengthen its
pricing power. It leveraged synergies across R&D, supply chains, manufacturing, and marketing
to expand its reach among key domestic strategic customers and improve its ability to fulfill
orders. It also pursued growth opportunities in key regional markets, including the Middle East
and Africa, Southeast Asia, Europe, Australia, and New Zealand, optimizing its overseas
customer and market presence to enhance its global operating capabilities. From January to
September 2026, the Company’s cell and module business achieved sales volume of 14.5 GW, an
increase of 43% YoY. Overseas shipments accounted for 20.6% of total shipments and increased
by 202% YoY.
The acquisition of a controlling interest in DAS Solar was completed in early July. The
Company immediately launched projects to upgrade 20 GW of cell capacity and 25 GW of
module capacity to BC technology. These projects are expected to be completed in stages by the
first quarter of 2027. Upon completion, the Company will have 20 GW of BC cell capacity and 50
GW of module capacity, comprising 25 GW of BC capacity and 25 GW of TOPCon capacity.
This will create a more balanced capacity structure and further strengthen synergies across the
industry chain.
(III) Other Silicon Materials Business
In the first three quarters of 2026, continued growth in AI and computing demand drove
demand for logic and memory chips, while recovering demand from new energy vehicles,
photovoltaic power and energy storage, and industrial control applications boosted demand for
power and analog chips. Together, these trends supported a structural recovery in the industry.
Demand strengthened across several downstream markets. The 12-inch wafer market benefited
Third Quarter 2026 Report of TCL Technology Group Corporation
from growth in AI computing, high-performance computing (HPC), advanced memory, and logic
chips. Demand for 8-inch wafers gradually recovered, supported by automotive-grade power
devices, industrial applications, and power management chips, with AI server power supplies
generating additional demand. The 6-inch wafer market saw structural improvements, with
demand primarily coming from MEMS, sensors, low- and medium-power discrete devices, and
small-signal analog chips. Demand remained strong for high-value-added specialty wafers,
including advanced lightly doped polished wafers, heavily doped substrates, and epitaxial wafers
for power devices. Supply remained structurally tight for high-end specifications, and prices
entered a recovery and upward cycle.
Zhonghuan Advanced serves as the operating entity of the Company’s silicon materials
business. Guided by its “Lead at Home, Compete Globally” strategy, Zhonghuan Advanced has
become one of the few silicon wafer manufacturers worldwide offering a full range of wafer sizes
across multiple technology platforms. It is committed to providing comprehensive product
solutions to customers worldwide. Capitalizing on growth opportunities in the industry, the
Company accelerated capacity upgrades and advanced product development. Its comprehensive
product portfolio supported growth in business scale alongside improvements in operating
performance.
The Company’s silicon materials business maintained its industry-leading position in
revenue and profitability. With products spanning a full range of wafer sizes and categories,
Zhonghuan Advanced was well positioned to supply products tailored to customers’ needs, meet
their diverse long-term product requirements, and continue to improve its financial performance.
From January to September 2026, Zhonghuan Advanced achieved operating revenue of RMB 4.9
billion, up 15% YoY, and broke even overall. Third-quarter operating revenue reached RMB 1.86
billion, up 23% YoY, with net profit of RMB 80 million, marking a quarter of profitable
operations.
Zhonghuan Advanced maintained its leading domestic position in shipment volume while
continuing to improve its product and customer mix. In the first three quarters, Zhonghuan
Advanced shipped 1,101 MSI, up 21% YoY. Shipments of 12-inch products increased by 24%
YoY, while shipments of 8-inch and smaller products increased by 18% YoY. Shipments of the
Company’s wafers for memory and logic applications continued to grow rapidly, placing it
Third Quarter 2026 Report of TCL Technology Group Corporation
among the leading domestic suppliers by market share. Specialty products for power devices and
CMOS image sensors (CIS), as well as float-zone wafers, served high-value-added market
segments and maintained a commanding market share lead. The Company continued to expand its
overseas business, generating overseas revenue of RMB 1.14 billion in the first three quarters, up
Zhonghuan Advanced will strengthen its competitive advantages through capacity expansion,
technological breakthroughs, quality improvements, cost reductions, and efficiency gains. These
efforts will reinforce its domestic leadership and support its ambition to become one of the
world’s leading silicon wafer manufacturers. The Company will continue to increase investment
in advanced technologies and processes, accelerating the R&D and validation of wafers for high-
end logic, high-bandwidth memory (HBM), advanced packaging, and high-end specialty
processes to further strengthen its technological barriers to entry. To support market and customer
development, the Company will secure orders during capacity ramp-up through long-term supply
agreements (LTAs), deepen strategic partnerships with core customers, and increase its share of
supply to these customers. It will also steadily advance customer qualification and adoption of
advanced and high-end products.
By the end of 2026, combined 12-inch wafer capacity at the Yixing and Xuzhou sites is
expected to increase to 1 million wafers per month. The Company will also accelerate
construction of its 12-inch wafer factory in Shenzhen, continue upgrading 8-inch capacity at its
Yixing and Tianjin sites, and ramp up supporting crystal production in Inner Mongolia to meet
global customer demand. Once all five sites reach full production, the Company’s monthly
capacity for 12-inch and 8-inch wafers will reach 2.1 million and 1.4 million wafers, respectively.
(IV) Non-core business
During the Reporting Period, TPC performed well, while the Company’s financial services,
investment, and other businesses developed steadily.
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
Third Quarter 2026 Report of TCL Technology Group Corporation
manufacturing industry and transformation of the global energy structure to achieve sustainable
high-quality development and move toward global leadership.
Third Quarter 2026 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 Total number of preferred shareholders with resumed
by the end of the Reporting Period voting rights by the end of the Reporting Period
Shareholdings of top 10 shareholders of ordinary shares (excluding the lending of shares under refinancing)
Number of Shares in pledge, marked or frozen
Shareholdi
Name of Nature of Number of restricted
ng
shareholder shareholder shares held ordinary shares Status Quantity
percentage
held
Hong Kong
Securities
Foreign legal entity 7.54% 1,655,218,792 0 Not applicable 0
Clearing
Company Ltd.
Li Dongsheng Not applicable 0
Ningbo Jiutian
Liancheng Domestic
Equity individual/
Investment Domestic general In pledge 144,100,000
Partnership legal entity
(Limited
Partnership)
Shenzhen Major
Industrial
Development Public legal entity 4.45% 976,000,006 0 Not applicable 0
Phase I Fund
Co., Ltd.
Guangdong
Hengjian
Investment Public legal entity 2.90% 636,418,725 636,418,725 Not applicable 0
Holding Co.,
Ltd.
Huizhou
Investment
Public legal entity 2.44% 535,767,694 0 Not applicable 0
Holding Co.,
Ltd.
Science City
(Guangzhou)
Public legal entity 1.45% 318,209,362 318,209,362 Not applicable 0
Investment
Group Co., Ltd.
Wuhan Optics
Valley
Industrial Public legal entity 1.04% 228,834,416 0 In pledge 85,000,000
Investment Co.,
Ltd.
Guangzhou
Chengfa
Xingguang
Domestic general
Investment 0.87% 190,925,617 190,925,617 Not applicable 0
legal entity
Partnership
(Limited
Partnership)
TCL
Technology
Group
Corporation - Others 0.80% 174,747,985 0 Not applicable 0
Stock
Ownership Plan
Third Quarter 2026 Report of TCL Technology Group Corporation
Shareholdings of top 10 non-restricted ordinary shareholders (excluding the lending of shares under refinancing and restricted
shares held by senior management)
Type and quantity of shares
Name of shareholder Number of non-restricted shares held
Type of shares Quantity
RMB-
Hong Kong Securities Clearing
Company Ltd.
ordinary shares
RMB-
Shenzhen Major Industrial
Development Phase I Fund Co., Ltd.
ordinary shares
Li Dongsheng
RMB-
Ningbo Jiutian Liancheng Equity 592,211,200 denominated 592,211,200
Investment Partnership (Limited ordinary shares
Partnership)
RMB-
Huizhou Investment Holding Co., Ltd. 535,767,694 denominated 535,767,694
ordinary shares
RMB-
Wuhan Optics Valley Industrial
Investment Co., Ltd.
ordinary shares
RMB-
TCL Technology Group Corporation -
ordinary shares
RMB-
Abu Dhabi Investment Authority –
Own funds
ordinary shares
Perseverance Asset Management RMB-
Partnership (Limited Partnership) - 126,000,000 denominated 126,000,000
Gaoyi Xiaofeng No. 2 Zhixin Fund ordinary shares
New China Life Insurance Company RMB-
Ltd. - Traditional - Ordinary Insurance 125,932,146 denominated 125,932,146
Product - 018L-CT001 Shen ordinary shares
Mr. Li Dongsheng and his acting-in-concert parties are the Company’s
largest shareholder in terms of beneficial ownership. Hong Kong
Securities Clearing Company Ltd. is the nominee holder of the
Company’s shares held through the Shenzhen–Hong Kong Stock
Connect.
Note on the above shareholders’ associations or
Among the top 10 shareholders, Mr. Li Dongsheng and Ningbo Jiutian
concerted actions Liancheng Equity Investment Partnership (Limited Partnership) became
persons acting in concert by signing the Agreement on Concerted Action.
Mr. Li Dongsheng holds 901,265,855 shares and Ningbo Jiutian
Liancheng Equity Investment Partnership (Limited Partnership) holds
At the end of the Reporting Period, Wuhan Optics Valley Industrial
Explanation of the top 10 ordinary shareholders
Investment Co., Ltd., among the shareholders above, held certain shares
participating in securities margin trading (if any) of the Company through a credit security account.
Note: At the end of the Reporting Period, the dedicated securities account for share repurchases of TCL Technology Group
Corporation held 239,384,027 shares in the Company.
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
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
Third Quarter 2026 Report of TCL Technology Group Corporation
Section V Other Significant Events
Applicable □Not applicable
(1) Completion of the acquisition of a 45% equity interest in Guangzhou China Star Optoelectronics Bandaoti Display
Technology Co., Ltd. through share issuance and cash payment during the Reporting Period
On March 30, 2026, the Board reviewed and approved proposals including the Proposal on the Report (Draft) on Asset
Purchase via Share Issuance and Cash Payment and Raising of Supporting Funds of TCL Technology Group Corporation and Its
Summary. 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. (“Guangzhou CSOT Bandaoti”) 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 total transaction consideration was
RMB 9,324,807,200, comprising RMB 4,662,403,600 in shares and RMB 4,662,403,600 in cash. Following the completion of the
Transaction, the Company directly and indirectly controls 100% of the equity interests in Guangzhou CSOT Bandaoti.
On April 24, 2026, the Company convened the 2025 Annual General Meeting, at which the aforementioned matters were
reviewed and approved.
On June 1, 2026, the Board reviewed and approved the Proposal on Canceling the Raising of Supporting Funds for the Asset
Purchase via Share Issuance. Taking into account the interests of all shareholders and the sustained positive momentum in the
Company’s operations and development, the Company decided to cancel the arrangement for raising supporting funds for the asset
purchase via share issuance. The cash consideration will instead be paid from the Company’s own or self-raised funds.
On July 24, 2026, the Merger and Acquisition Review Committee of the Shenzhen Stock Exchange approved the Company’s
acquisition of the 45% equity interest in Guangzhou CSOT Bandaoti through share issuance and cash payment.
On August 19, 2026, the Company received the Reply on Approving the Registration of TCL Technology Group
Corporation’s Asset Purchase via Share Issuance (CSRC Permit [2026] No. 2116) issued by the China Securities Regulatory
Commission.
On August 21, 2026, the industrial and commercial registration for the transfer of the 45% equity interest in Guangzhou
CSOT Bandaoti was completed. The 1,145,553,704 new shares issued for the transaction were listed on the Shenzhen Stock
Exchange on August 31, 2026, subject to a 12-month lock-up period. The Company’s total share capital increased from
Third Quarter 2026 Report of TCL Technology Group Corporation
Section VI Quarterly Financial Statements
(I) Financial statements
Prepared by: TCL Technology Group Corporation
September 30, 2026
Unit: RMB
Item Ending balance Beginning balance
Current assets:
Cash and cash equivalents 15,338,339,927 30,460,060,493
Settlement reserves 0 0
Funds on loan 0 0
Held-for-trading financial assets 20,110,651,486 14,473,193,131
Derivative financial assets 24,556,410 78,957,405
Notes receivable 795,332,316 480,225,462
Accounts receivable 23,964,232,658 22,153,002,606
Receivables financing 962,044,147 625,788,752
Prepayments 2,641,282,946 1,909,443,641
Other receivables 2,922,667,380 3,500,621,513
Including: Interests receivable 0 0
Dividends receivable 254,367,650 424,441,285
Financial assets purchased under sale-back agreement 0 0
Inventories 25,328,162,578 18,370,708,289
Including: Data resources 0 0
Contract assets 377,561,200 385,576,416
Held-for-sale assets 0 363,065,629
Non-current assets due within one year 2,191,321,250 1,564,945,242
Other current assets 7,732,292,048 8,411,623,798
Total current assets 102,388,444,346 102,777,212,377
Non-current assets:
Loans and advances to customers 0 0
Debt investments 569,327,729 578,158,579
Other debt investments 0 0
Long-term receivables 102,793,662 120,628,033
Long-term equity investments 25,380,354,503 23,349,193,104
Investments in other equity instruments 162,450,592 356,455,767
Other non-current financial assets 4,711,730,596 3,172,659,077
Investment properties 387,075,259 401,873,017
Fixed assets 156,298,563,216 165,003,155,646
Construction in progress 21,030,010,165 16,176,848,470
Productive biological assets 0 0
Oil and gas assets 0 0
Right-of-use assets 5,494,513,700 6,189,174,496
Intangible assets 17,695,279,364 18,467,310,369
Including: Data resources 0 0
Development expenditures 1,028,366,605 1,204,955,478
Including: Data resources 0 0
Goodwill 13,728,430,215 11,409,749,045
Long-term deferred expenses 2,721,525,508 2,282,883,407
Deferred tax assets 3,951,985,419 2,936,332,280
Other non-current assets 13,899,796,111 18,311,725,167
Total non-current assets 267,162,202,644 269,961,101,935
Total assets 369,550,646,990 372,738,314,312
Third Quarter 2026 Report of TCL Technology Group Corporation
Current liabilities:
Short-term borrowings 8,236,277,738 7,552,523,460
Borrowings from the Central Bank 17,149,731 29,756,431
Borrowing funds 0 0
Held-for-trading financial liabilities 66,573,870 235,716,703
Derivative financial liabilities 22,694,412 50,434,753
Notes payable 9,912,403,757 6,465,600,185
Accounts payable 37,758,696,746 32,251,944,054
Advances from customers 8,097,339 6,823,420
Contract liabilities 3,047,398,515 2,009,842,277
Financial assets sold under repurchase agreements 0 0
Customer deposits and deposits from other banks and
financial institutions
Funds for brokering securities transactions 0 0
Funds for brokering securities underwriting 0 0
Employee compensation payable 4,385,120,831 4,966,488,419
Taxes and levies payable 1,491,928,879 1,238,333,745
Other payables 18,779,268,273 17,715,637,558
Including: Interests payable 0 0
Dividends payable 30,216,239 48,248,756
Held-for-sale liabilities 0 71,510,148
Non-current liabilities due within one year 27,237,200,136 30,909,783,775
Other current liabilities 7,559,088,448 1,662,143,866
Total current liabilities 118,805,807,948 105,531,252,381
Non-current liabilities:
Long-term borrowings 102,759,351,778 116,139,349,491
Bonds payable 11,978,389,330 7,981,874,250
Including: Preferred shares 0 0
Perpetual bonds 0 0
Lease liabilities 5,165,049,335 4,148,597,798
Long-term payables 2,818,925,390 1,388,758,641
Long-term employee compensation payable 21,139,280 21,605,303
Provision 683,914,126 231,480,076
Deferred income 2,596,107,964 2,151,175,867
Deferred tax liabilities 1,452,064,964 1,775,607,133
Other non-current liabilities 9,119,235 25,635,061
Total non-current liabilities 127,484,061,402 133,864,083,620
Total liabilities 246,289,869,350 239,395,336,001
Owner's equity:
Share capital 21,946,416,151 20,800,862,447
Other equity instruments 997,630,000 0
Including: Preferred shares 0 0
Perpetual bonds 997,630,000 0
Capital reserves 16,927,419,343 14,155,724,550
Less: Treasury share 2,265,161,717 1,503,652,075
Other comprehensive income -936,275,345 -1,042,359,133
Specific reserves 7,117,618 5,597,597
Surplus reserves 4,096,815,620 4,096,815,620
General risk reserve 8,933,515 8,933,515
Retained earnings 28,148,651,505 24,910,834,003
Total equity attributable to the owners of the parent
company
Non-controlling interests 54,329,230,950 71,910,221,787
Total owners' equity 123,260,777,640 133,342,978,311
Total liabilities and owners' equity 369,550,646,990 372,738,314,312
Legal representative: Person-in-charge of financial affairs: Person-in-charge of the financial
Li Dongsheng Li Jian department: Jing Chunmei
Third Quarter 2026 Report of TCL Technology Group Corporation
Reporting Period
Unit: RMB
Amount incurred in the Amount incurred in the
Item
current period previous period
I. Total revenue 138,756,474,276 136,064,747,889
Including: Operating revenue 138,700,079,937 135,943,426,753
Interest income 56,394,339 121,321,136
Service charge and commission income 0 0
II. Total costs 137,898,351,823 135,565,833,830
Including: Operating cost 121,717,926,749 118,592,498,986
Interest expenditures 1,904,289 12,226,443
Service charge and commission expenditures 0 0
Taxes and levies 834,721,354 878,642,741
Sales expenses 1,847,150,337 1,808,184,948
Administrative expenses 3,299,473,186 3,440,592,336
R&D expenses 6,940,026,714 7,393,745,724
Financial expenses 3,257,149,194 3,439,942,652
Including: Interest expenses 3,113,076,259 3,720,323,168
Interest income 503,958,081 524,551,294
Add: Other income 1,039,130,027 1,767,528,756
Return on investment (losses are indicated by "-") 2,098,585,059 1,662,556,667
Including: Return on investment in joint
ventures and associates
Income from derecognition of
financial assets measured at amortized costs
Exchange gains (losses are indicated by "-") 1,282,600 504,115
Gain on net exposure hedging (losses are indicated
by "-")
Gain on changes in fair value (losses are indicated
by "-")
Credit impairment loss (losses are indicated by "-
-22,156,437 -14,031,935
")
Asset impairment loss (losses are indicated by "-") -2,739,881,521 -3,372,610,477
Asset disposal income (losses are indicated by "-") 160,450,271 3,069,942
III. Operating profit (losses are indicated by "-") 2,666,264,196 1,141,561,082
Add: Non-operating income 32,719,398 46,160,074
Less: Non-operating expenses 555,128,400 176,001,781
IV. Gross profit (gross loss is indicated by "-") 2,143,855,194 1,011,719,375
Less: Income tax expenses -485,358,133 529,171,588
V. Net profits (net losses are indicated by "-") 2,629,213,327 482,547,787
(I) Classified by continuity of operations
are indicated by "-")
losses are indicated by "-")
(II) Classification by ownership
parent company (net losses are indicated by "-")
-2,491,224,048 -2,564,244,616
(net losses are indicated by "-")
VI. Other comprehensive income, net of tax 116,979,693 -93,393,016
Third Quarter 2026 Report of TCL Technology Group Corporation
Other comprehensive income attributable to the owners
of the parent company, net of tax
(I) Other comprehensive income that cannot be
-40,347,028 -5,440,283
subsequently reclassified into profits or losses
-109,496 0
benefit plans
subsequently reclassified into profits and losses under the -32,273,700 -10,209,048
equity method
-7,963,832 4,768,765
equity instruments
credit risks
(II) Other comprehensive income that may
subsequently be reclassified into profits or losses
transferred to profits and losses under the equity method
other comprehensive income
investments
financial statements
Other comprehensive income attributable to non-
controlling interests, net of tax
VII. Total comprehensive income 2,746,193,020 389,154,771
(I) Total comprehensive income attributable to the
shareholders of the parent company
(II) Total comprehensive income attributable to non-
-2,480,328,143 -2,580,774,261
controlling interests
VIII. Earnings per share:
(I) Basic earnings per share 0.2466 0.1604
(II) Diluted earnings per share 0.2333 0.1584
Legal representative: Person-in-charge of financial affairs: Person-in-charge of the financial department:
Li Dongsheng Li Jian Jing Chunmei
Third Quarter 2026 Report of TCL Technology Group Corporation
Reporting Period
Unit: RMB
Amount incurred in the Amount incurred in the
Item
current period previous period
I. Cash flow generated from operating activities:
Proceeds from the sale of commodities and rendering of
services
Net increase of deposits from customers, banks, and
-80,784,472 8,905,145
other financial institutions
Net increase of borrowings from the Central Bank -12,665,179 -507,189,316
Cash received from interest, handling charge and
commission
Tax and levy rebates 6,359,299,340 4,238,907,127
Cash generated from other operating activities 8,012,126,138 9,766,246,224
Sub-total of cash inflows from operating activities 164,202,698,322 161,530,975,498
Cash paid for commodities and services 112,070,649,842 102,597,397,617
Net increase of loans and advances to customers 0 -185,677,339
Net increase of deposits with the Central Bank, banks,
-22,236,368 -8,624,759
and other financial institutions
Cash paid for interest, service charges and commissions 2,509,515 0
Cash paid to and for employees 11,287,943,855 10,742,521,309
Taxes and levies paid 2,627,715,471 3,919,628,352
Cash used in other operating activities 13,446,128,851 10,629,128,174
Sub-total of cash used in operating activities 139,412,711,166 127,694,373,354
Net cash generated from operating activities 24,789,987,156 33,836,602,144
II. Cash flow generated from investing activities:
Proceeds from disinvestments 120,933,422,600 80,824,235,602
Proceeds from return on investments 2,639,515,085 1,945,325,131
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 345,007,371 137,527,359
Sub-total of cash inflows from investing activities 124,414,774,327 83,052,444,982
Payments for the acquisition and construction of fixed
assets, intangible assets and other long-term assets
Payments for investments 123,242,508,088 89,279,902,850
Net payments for acquiring subsidiaries and other
business units
Cash used in other investing activities 992,737,734 561,637,645
Sub-total of cash used in investing activities 143,272,902,389 107,550,368,010
Net cash generated from investing activities -18,858,128,062 -24,497,923,028
III. Cash flow generated from financing activities:
Capital contributions received 3,712,668,690 4,435,377,733
Including: Capital contributions by non-controlling
interests to subsidiaries
Borrowings raised 52,977,402,482 66,876,357,539
Cash generated from other financing activities 2,546,935,584 566,327,309
Sub-total of cash inflows from financing activities 59,237,006,756 71,878,062,581
Cash paid for debt repayment 60,394,908,339 68,842,349,158
Cash paid for distribution of dividends and profits or
repayment of interests
Third Quarter 2026 Report of TCL Technology Group Corporation
Including: Dividends and profits paid by subsidiaries
to minority shareholders
Cash used in other financing activities 11,968,614,045 10,406,415,238
Sub-total of cash used in financing activities 77,641,539,525 83,876,331,267
Net cash generated from financing activities -18,404,532,769 -11,998,268,686
IV. Effect of exchange rate changes on cash and cash
-89,104,103 190,479,096
equivalents
V. Net increase in cash and cash equivalents -12,561,777,778 -2,469,110,474
Add: Cash and cash equivalents at the beginning of the
period
VI. Cash and cash equivalents at the end of the period 14,004,025,336 18,392,144,402
Legal representative: Person-in-charge of financial affairs: Person-in-charge of the financial department:
Li Dongsheng Li Jian 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 Third Quarter Financial Report has been audited or not?
□Yes No
The Company's Third Quarter Financial Report has not yet been audited.
TCL Technology Group Corporation
Board of Directors
October 30, 2026
