Full Text of the Annual Report 2022 of TCL Technology Group Corporation
TCL 科技集团股份有限公司 TCL Technology Group Corporation
ANNUAL REPORT 2022
March30, 2023
Full Text of the Annual Report 2022 of TCL Technology Group Corporation
Breaking the Adversity with Strengthened Basic Competitiveness
ANNUAL REPORT 2022Chairman's Statement
2022 was a year full of opportunities and challenges. 2022 witnessed dramatic changes in the
global politicaland economic situation, from the outbreak of the Russia-Ukraine war,risinginflation,
sluggish market demand, to deteriorating trade environment, and significant economic slowdown.
These multiple factors brought tremendous challenges to the development of the high-tech
manufacturi ng industry. Due to the fluctuation of both industrial chain and supply chain,
manufacturers worldwide had to shift their focus from efficiency to both efficiency and safety. The
global industrial pattern was restructured. Under this background, China's high-tech manufactur i n g
industry also faced pressure of transformation and upgrading. We have built our competitive
advantages in the fields of semiconductor display and new energy photovoltaic, and will take the
opportunities of global energy transition and strengthening high-tech industrial chain, actively
respond to risks and turn crisesinto opportunities. We willcontinue to achieve high-quality corporate
development with technological innovation and advantages of economies of scale.
Facing the complex business environment of 2022,the Company maintained its strategic focus,
built a solid bottom line, and advanced steadily. The Company achieved a revenue of RMB166.55
billion, an increase of 1.8%, a net profit of RMB1.79 billion, withthe net profit of RMB260 million
attributable to the Company’s shareholders, and net operating cash inflow of RMB18.43 billion,
continuously ensured its stable operation.
Affected by the global economic downturn, the demand from the end-users weakened, the prices
of large-sized panels dropped significantly, and the operating performance of the semiconductor
displayindustry hit a recordlow during the Reporting Period.The Company achieveda year-on-year
increase in the sales area of semiconductor displays at 8.3%, and earned a revenue of RMB65.72
billion, a year-on-year decrease of 25.5%, saw a full-year loss. Facing the operational challenges,
TCL CSOT upheld its bottom-line thinking, and pushed ahead with structural changes such as
organizational changes and management optimization. With strengthened advantages and shored up
weakness parts, TCL CSOT accelerated the adjustments to product struc tures, actively explored
emerging areas, and promoted balanced business development. In its large -size product business,
TCL CSOT has consolidated its leading position inTV panels with a high-end product strategy, and
vigorously developed commercial displays such as interactive whiteboards, digital signs, and video
walls. TCL CSOT ranked first in the worldin the field of shipment of 8K and 120HZ high-end TV
panels and interactive whiteboards. As production lines dedicatedtoIT products, the t9 adopted oxide
semiconductor displays kicked off its SoP in Guangzhou ahead of schedule, and the G6 LTPS
Full Text of the Annual Report 2022 of TCL Technology Group Corporation
production line in Wuhan proceeded as planned. Small and medium-sized products further
consolidated the business development, all of which would drive a new round of growth of TCL
CSOT.
With increasing transformation of global energy structure, the new energy industry has ushered
in historic opportunities. In response to the rapid development of the new energy industry, TCL
Zhonghuan continued to play its leading advantages in advanced capacity layout, technological
innovation, and cost efficiency, as wellas the activation effect of institutional mechanisms. In 2022,
TCL Zhonghuan achieved a significant increase in its operating performance again, with a revenue
of RMB67.01 billion, a year-on-year increase of 63.0%, and a net profit of RMB7.07 billion,a year -
on-year increase of 59.5%. Ningxia Zhonghuan Phase VI projectincreasedits capacity,and the wafer
projects wereput into production in Tianjin and Yixing successively, withthe advantageous capacity
rapidly increased. TCL Zhonghuan’s capacity for photovoltaic crystalline silicon was increased to
140GW, making it the world's largest silicon wafer supplier. The highly-efficient laminated tile
module intelligent manufacturing projects in Jiangsu and Tianjin have been entered the SOP, with a
steady increase in the market share. Through deepening collaborationwith Maxeon in terms of the
supply chain, production, and channels, TCL Zhonghuan has acceleratedits globa l business layout.
Affected by the economic environment,
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