TCL 科技集团股份有限公司
TCLTechnology Group Corporation
ANNUALREPORT 2021
April 27, 2022
Bucking up, Speeding up and Stepping up to a New Level
ANNUAL REPORT 2021 Chairman's Statement
In 2021, the Group recorded a revenue of RMB163.54 billion, up by 113.3% year -on-year; a
net profit of RMB14.96 billion, up by 195.3% year-on-year, a net profit attributable to the
company’s shareholders of RMB10.06 billion, up by 129.2% year -on-year; the net cash flow
generated from operating activities of RMB32.9 billion, up by 97% year-on-year; and a debt/asset
ratio of 61.2%, down by 3.8 percentage points. As stated above, the financial status remai ns stable,
various operating indicators significantly i mproved, relative competitive advantages were
strengthened obviously, and the Group took great steps towards becomi nga global leader.
Excellent b usi ness performance depends on continuous corporate transformation, with a focus
on the main business, enha nci ng relative competitiveness and speeding up the development of core
industries. TCLCSOT achieved an operati ng revenue of RMB88.1 billion, a year -on- year increase
of 88.4%, and a net profit of RMB10.65 billion, a year-on-year increase of 339.6%. TCL
Zhonghuan achieved an operating revenue of RMB41.1 billion, a year -on- year increase of 115.7%,
and a net profit of RMB4.44 billion, a year-on-year increase of 200.6%. Other busi nesses under the
Group maintained stable growth.
The Group's development strategy focuses on the pan-semiconductor industry, aiming at
becoming a global leader or industry leader, continuo usl y enhancing core competence and steadily
advancing various businesses. TCL CSOT will consolidate the competitiveness of large-sized LCD
business, maintain high efficiency, op ti mize the production line and product structure, and
accelerate the development of medium-sized t9 project. TCL CSOT has established a relative
competitive advantage in LTPS business and is investi ng in expanding LTPS production capacity
(Wuhan t5 project). TCLCSOT will strive to become the most competitive enterprise inthe field of
semiconductor displayby enhancing the competitiveness of its t4 OLED production line and
developing the next generation of new displaytechnology.
TCL Zhonghuan new energy photovoltaic business has established industry-leading
competitiveness in the field of crystals and wafers. With the productionof Yi nc hua nCrystal Plant, it
will further enhance its competitive advantage. The Company will improve its industrial chain
layout, proactively expand global business, and make every effort to become a leader in the global
photovoltaic new energy industry.
Zhonghuan Advanced has made considerable progress inits semiconductor materials business.
While consolidating its competitive advantage of original products, it has rapidly improved the
competitiveness of 12-inch products and strives to become ani nd ustr yleader inChina.
The Group will firml y push ahead with its development strategy for the pan-semiconductor
industry and actively support the development of various industries.
The year 2022 will see a turbulent international situation. Risky events occur constantly,
posing a great i mpact on the global economy. The Group should be prepared for various risks with
worst-case scenario thinki ng.
The semiconductor display market has entered a downside circle since last September. In the
face of a pessimistic situation affected by economic slowdown and weak market demand, TCL
CSOT is under pressure. Moka Technology, acquired by the Group last year, is expected to mai ntai n
stable business growth this year and contribute to profit growth, which will play a positive role in
the semiconductor display b usi ness. Be nefiti ng from the global energy conservation and carbon
reduction policy, the new energy p hotovol taic busi ness ushers in a historic opportunity. TCL
Zhonghuan will accelerate the development of its new energy photovoltaic business. Zhonghuan
Advanced’s semiconductor materials business will seize the opportunity brought by the
development of Chi na's integrated circuit i nd ustry. TCL Zhonghuan’s business is expected to
continue to grow robustly this year.
Facing the uncertainty of the global economy, the Group will firmly promote i ts global leading
development strategy, consolidate its basic capacity and actively expand the global operation. In the
meantime, the Group will prudently assess the project investments, manage operations risks,
maintain financial stability, and achieve development against the trend.
The Company has always been dedicated to returni ng hi gh value to its shareholders. The
Board of Directors has proposed a final dividend of RMB1.5 per 10 shares to share the value of
corporate growth with shareholders.
I would like to express my si ncere gratitude for the trust of all our shareholders, for the support
fromall our partne
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