First Quarter 2023 Report of TCL Technology Group Corporation
Stock Code: 000100 Stock Abbr.: TCL TECH. Announcement No.: 2023-031
TCL 科技集团股份有限公司
TCL Technology Group Corporation
First Quarter 2023 Report
April 27, 2023
First Quarter 2023 Report of TCL Technology Group Corporation
Content
First Quarter 2023 Report of TCL Technology Group Corporation
Section I Important Notices and Definitions
The Board of Directors (or the “Board”), the Supervisory Committee, directors, supervisors and
senior management of TCL Technology Group Corporation (hereinafter referred to as the “Company”)
hereby guarantee that this quarterly report is factual, accurate and complete, and shall be jointly and
severally liable for any misrepresentations, misleading statements, or material omissions therein.
Mr. Li Dongsheng, the Chairman of the Board, Ms. Li Jian, the person-in-charge of financial
affairs (Chief Financial Officer), and Mr. Peng Pan, the person-in-charge of the financial department,
hereby guarantee that the financial statements carried in this Report are factual, accurate and complete.
All the Company’s directors attended the board meeting for the review of this Report.
The future plans, development strategies or other forward-looking statements mentioned in this
Report shall NOT be considered as promises of the Company to investors. Therefore, investors are
kindly reminded to pay attention to possible investment risks.
This Report has not been audited. This Report has been prepared in both Chinese and English.
Should there be any discrepancies or misunderstandings between the two versions, the Chinese
version shall prevail.
First Quarter 2023 Report of TCL Technology Group Corporation
Definitions
Term Refers to Definition
Company, the Company, group Refers to TCL Technology Group Corporation
The “Reporting Period”, “current period” Refers to The period from January 1, 2023 to March 31, 2023.
TCL CSOT Refers to TCL China Star Optoelectronics Technology Co., Ltd.
TCL Zhonghuan Renewable Energy Technology Co., Ltd., a majority-
TCL Zhonghuan Refers to owned subsidiary of the Company listed on the Shenzhen Stock
Exchange (stock code: 002129.SZ)
GW Refers to Gigawatt, power unit for solar cells, 1GW = 1,000 megawatts
G12 Refers to size: 44,096mm?, diagonal line: 295mm, side length: 210mm, with its
size 80.5% larger than the conventional M2
RMB Refers to Renminbi
First Quarter 2023 Report of TCL Technology Group Corporation
Section II Key Financial Information
I. Key accounting data and financial indicators
Indicate whether there is any retrospectively adjusted or restated datum in the table below
□ Yes ? No
Q1 2023 Q1 2022 Change (%)
Revenue (RMB) 39,443,242,439 40,566,851,319 -2.77%
Net profit attributable to the company’s
-548,999,154 1,352,533,125 -140.59%
shareholders (RMB)
Net profits attributable to the company’s
shareholders before non-recurring gains and -729,931,586 611,554,193 -219.36%
losses (RMB)
Net cash generated from operating activities
(RMB)
Basic earnings per share (RMB/share) -0.0326 0.1008 -132.34%
Diluted earnings per share (RMB/share) -0.0322 0.0993 -132.43%
Weighted average return on equity (%) -1.09% 3.16% -4.25%
At the end of the reporting period December 31, 2022 Change (%)
Total assets (RMB) 379,396,714,372 359,996,232,668 5.39%
Owner’s equity attributable to the
company’s shareholders (RMB)
The total share capital at the end of the last trading session before the disclosure of this Report:
The total share capital at the end of the last trading session before the disclosure
of this Report: (share)
Fully diluted earnings per share based on the latest total share capital above:
Fully diluted earnings per share based on the latest total share capital above
-0.0322
(RMB/share)
II. Non-recurring profit and loss items and amounts
?Applicable □ Not applicable
Unit: RMB
Amount in the reporting
Item
period
Gains and losses on disposal of non-current assets (inclusive of impairment allowance write-offs) 10,833,557
Government subsidies charged to current profits and loss (except for government subsidies
closely related to the Company’s normal business which comply with national policies and 341,941,846
regulations and are enjoyed on an ongoing basis according to certain standard quotas or quantities)
The profits and losses generated from changes in fair value arising from holding marketable
financial assets and marketable financial liabilities, as well as the investment-related income from
the disposal of marketable financial assets, marketable financial liabilities and available-for-sale 38,869,586
financial assets, except for the effective hedging business related to the Company’s normal
business operation.
Non-operating income and expenses other than the above 2,962,918
Less: Corporate income tax 68,908,196
Non-controlling interests (net of tax) 144,767,279
Total 180,932,432
Details of other profit and loss items that meet the definition of non-recurring profits and losses:
□ Applicable ?Not applicable
The Company has no other profit and loss items that meet the definition of non-recurring profits and losses.
Note on non-recurring profit and loss items listed in the Explanatory Announcement No. 1 on Information Disclosure for Companies
Offering Their Securities to the Public—Non-Recurring Gain/Loss defined as Recurring Gain/Loss items:
□ Applicable ?Not applicable
The Company does not have any non-recurring profit and loss items listed in the Explanatory Announcement No. 1 on Information
Disclosure for Companies Offering Their Securities to the Public—Non-Recurring Gain/Loss that are defined as recurring profit and
First Quarter 2023 Report of TCL Technology Group Corporation
loss items.
III. Changes of key accounting data and financial indicators and reasons therefor
?Applicable □ Not applicable
Unit: RMB
Increase /
Balance Sheet items Ending balance Beginning balance decrease Reason for change
ratio (%)
Mainly due to the increase in bank
Receivables financing 3,502,980,188 1,103,127,764 217.5
acceptances held by the Company
Other non-current Mainly due to the increase in
financial assets investments in equity instruments
Mainly due to the increase in
Deferred income tax assets 2,333,080,519 1,753,887,430 33.0
deductible losses for the period
Non-current liabilities due Mainly due to the repayment of
within one year maturing liabilities
Mainly due to the expansion in
Long-term payables 1,533,196,765 887,762,713 72.7
consolidation scope
Mainly due to the receipt of
Deferred income 3,809,748,717 2,468,144,649 54.4
government subsidies
Due the business combinations under
Deferred income tax
liabilities
period
Increase /
January-March, January-March,
Income Statement items decrease Reason for change
ratio (%)
Mainly due to the decrease in
Other income 531,668,577 976,625,863 -45.6
amortization of government subsidies
Gain on changes in fair
Mainly due to the increase in change
value (loss is indicated by 151,543,005 -136,683,550 210.9
in fair value of financial assets
“-”)
Mainly due to provisions made for the
Asset impairment loss
-338,223,994 -246,385,486 37.3 diminution in value of inventory led
(loss is indicated by “-”)
by market price fluctuation
Increase /
Cash Flow Statement January-March, January-March,
decrease Reason for change
items 2023 2022
ratio (%)
Net cash used in investing Mainly due to the increase in recovery
-5,200,472,661 -12,591,690,089 -58.7
activities of investments
First Quarter 2023 Report of TCL Technology Group Corporation
Section III Management Discussion and Analysis
The global political and economic situation remains both complicated and challenging thus far
this year. With developed economies still experiencing inflation pressure, overseas economy growth
is expected to slow down, while China's economy has generally shown sound momentum. In the face
of a complicated and volatile external business environment, the Company continues to maintain its
strategic position with a focus on developing semiconductor displays, new energy photovoltaic and
semiconductor materials along with other related semiconductor industries. On the basis of its
operating strategy of “enhancing the quality and efficiency of operations, playing to strengths whilst
shoring up weaknesses, accelerating global strategic development and driving development with
innovation”, the Company continues to improve its comparative competitiveness, strengthen risk
control and maintain robust operations.
During the reporting period, the Company registered revenue of RMB39.44 billion, representing
a decline of 2.8% year-on-year; net profit of RMB110 million; net profit attributable to shareholders
of the listed company of -RMB550 million; and a net operating cash flow of RMB4.5 billion. The
Company's declines in performance are mainly due to the following reasons: the average price of
mainstream semiconductor display products was significantly lower than that during the same period
of last year, and industry profit margins hit cyclical lows, which resulted in the performance of the
semiconductor display business dropping significantly year-on-year. However, the Company has
managed to stabilize performance compared with the fourth quarter of last year, gradually improving
profitability in step with the continuously rising price of major products since the end of the first
quarter. During the reporting period, return on investment was significantly reduced in comparison
with that of the previous year due to the impact of project exit and revenue recognition. In terms of
new energy photovoltaic and semiconductor materials business, the Company continues to cement its
leadership positioning through advantages in products and technologies, registering rapid growth in
revenue and performance.
Semiconductor display business
During the first quarter, the semiconductor industry, as a whole, experienced seasonal lows, but
the supply-demand relationship tended to be sound, with the price of mainstream panels rebounding.
First Quarter 2023 Report of TCL Technology Group Corporation
Emphasizing cost efficiency in its operations, the Company continued to optimize its business and
product structure, driving the operational improvement of semiconductor display business, and
expedited the strategic shift from large-sized displays to full-sized displays. During the reporting
period, the Company’s semiconductor display business realized revenue of RMB15.12 billion,
recording a year-on-year decline of 24.5%; TCL CSOT sold 11,323,000 sq.m of display panels, up
In the field of large-sized displays, TCL CSOT sustained its premium products strategy to
consolidate its leading position in TV panels. By market share, the Company secured its top 2 position
in TV panels, of which it ranked No.1 in both 55-inch and 75-inch products, and top 2 in 65-inch
products, while being a top-tier player in commercial displays. The Company consistently took the
lead in trends related to large-sized displays in the industry, and more than 45% of the shipment area
of TV products are above 65-inch. The Company has enhanced the competitiveness of its mid-sized
products, and delivered products to IT brands through its t9 production line; during the reporting
period, the Company ranked No.1 in MNT e-sports displays and No.2 in LTPS tablets and LTPS
laptops by global market share, while maintaining the rapid development of vehicle-mounted device
business. In terms of small-sized products, TCL COST focused on differential technologies and
pushed ahead with product structure upgrading. The Company jumped to the second place among
LTPS mobile phones by global market share, supplying flexible LTPO OLED products for a number
of high-end models launched by various brands.
With a surging global digital economy, the Company is optimistic about the development and
industrial value of semiconductor displays as the key information carrier and major interactive
interface. The Matthew effect has further optimized the industry, top-tier enterprises have constantly
enhanced their economies of scale, laying a solid foundation for future long-term and healthy
development. Along with the steady price rebound of mainstream products, led by TV panels, the
industry mid-range ROE is expected to be restored, and the Company’s semiconductor display
business will also gradually experience operational improvements.
New energy photovoltaic and semiconductor materials business
In the first quarter, the photovoltaic industry increasingly improved its upstream materials supply.
The Company’s large-sized silicon wafers were in short supply, catalyzing the high-speed
First Quarter 2023 Report of TCL Technology Group Corporation
development of new energy photovoltaic materials. During the reporting period, TCL Zhonghua n
recorded revenue of RMB17.62 billion, represented an increase of 31.8% year-on-year, and net profit
of RMB2.46 billion, up 69.2% year-on-year.
TCL Zhonghuan seized the initiative for future development, fortified its competitive advantage
through its "G12 + Shingled PV" dual technology platform, and increased its capacity for advanced
manufacturing with a stabilized and strengthened supply chain, continuously improved its product
competitiveness as well as the scale of production and sales. At the end of the reporting period, the
Company's total monocrystalline silicon capacity was up to 150GW, with the production utilization
rate climbing sharply month-over-month. The Company consolidated its leading position in the
global market share of photovoltaic silicon wafers and N-type wafers, and consistently developed
large-sized, flake-oriented and N-type technologies for photovoltaic materials. Using metrics such as
consumption rate of silicone materials per crystalline unit, monthly output per furnace, wafer output
per kg and other indicators, the Company has managed to maintain an industry leadership position
with the remarkable cost and market advantages of G12 strategic products. Upholding the concept of
differentiated development, the Company has built an intelligent plant for 25GW N-type TOPCON
batteries, working to integrate the advanced technologies of photovoltaic materials, imbrication
components and N-type TOPCON batteries, so as to enhance synergistic effects along the industrial
chain and strengthen the comprehensive competitiveness of new energy photovoltaic business.
With the aim of cementing a leadership position in new energy photovoltaic products, the
Company will continue to focus on the development of photovoltaic materials, building a
differentiated business ecosystem for batteries and components, and deepen the industry 4.0 system
and the application of flexible manufacturing.
Looking ahead to the year, the Company’s semiconductor display business is expected to see
improved operational performance aided by balanced supply and demand throughout the industry.
Driven by the high-speed development of the industry and TCL Zhonghuan’s competitive edges, the
new energy photovoltaic business will maintain its high-quality development, making contributions
to the steady growth of the Company. Through both internal development and M&As of the
semiconductor materials business, the Company will develop into a leader in semiconductor silicon
wafer production within China.
With a focus on a wide range of semiconductor businesses, including semiconductor displays,
First Quarter 2023 Report of TCL Technology Group Corporation
new energy photovoltaic and semiconductor materials, the Company will continue to seize
opportunities arising from the technical and manufacturing transformation of China and global energy
restructuring, so as to build its core competitive strength based on product and technology innovation,
giving full play to the advantages of lean management and economies of scale, leading to its
accelerated development into a leading international tech industry group.
First Quarter 2023 Report of TCL Technology Group Corporation
Section IV Shareholder Information
I. Table of the total number of ordinary shareholders and the number of preferred shareholders with
resumed voting rights as well as the shareholdings of the top 10 shareholders
Unit: Share
Total number of ordinary shareholders by Total number of preferred shareholders with resumed voting
the end of the reporting period rights by the end of the reporting period (if any)
Shareholdings of top 10 shareholders of ordinary shares
Number of Shares in pledge, marked or frozen
Number of shares
Name of Nature of Shareholding restricted
held at the
shareholder shareholder percentage (%) ordinary shares Status Shares
period-end
held
Domestic Put in pledge by
Li Dongsheng and 143,665,800
individual/Domes Li Dongsheng
his acting-in- 6.79% 1,159,085,019 610,545,822
tic general legal Put in pledge by
concert party 280,052,495
entity Jiutian Liancheng
Hong Kong
Foreign legal
Securities Clearing 4.52% 771,411,684
entity
Company Ltd.
Huizhou
Investment
State-owned legal
Holding Co., Ltd. 4.23% 722,144,427
entity
and its acting-in-
concert party
China Securities
Finance Domestic general
Corporation legal entity
Limited
CITIC Securities State-owned legal
Co., Ltd. entity
Wuhan Optics
Valley Industrial State-owned legal
Investment Co., entity
Ltd.
Guotai Junan State-owned legal
Securities Co., Ltd. entity
Foreign legal
UBS AG 1.27% 217,197,549 196,783,625
entity
Everbright
State-owned legal
Securities 1.24% 212,006,577 204,678,362
entity
Company Limited
GF Securities Co., Domestic general
Ltd. legal entity
Shareholdings of top 10 non-restricted ordinary shareholders
Number of non-restricted ordinary shares held at the end of Type of shares
Name of shareholder
reporting period Type Shares
RMB-
Hong Kong Securities Clearing
Company Ltd.
ordinary shares
RMB-
Huizhou Investment Holding Co., Ltd.
and its acting-in-concert party
ordinary shares
RMB-
Li Dongsheng and his acting-in-concert
party
ordinary shares
First Quarter 2023 Report of TCL Technology Group Corporation
RMB-
China Securities Finance Corporation
Limited
ordinary shares
RMB-
Wuhan Optics Valley Industrial
Investment Co., Ltd.
ordinary shares
RMB-
Goldman Sachs International - Self-
owned funds
ordinary shares
TCL Technology Group Corporation - RMB-
Ownership Plan (Phase I) ordinary shares
TCL Technology Group Corporation - RMB-
Ownership Plan (Phase II) ordinary shares
RMB-
Sinatay Life Insurance Co., Ltd. -
Conventional Product
ordinary shares
ICBC Credit Suisse Fund - Agricultural
RMB-
Bank of China - ICBC Credit Suisse
China Securities Financial Asset
ordinary shares
Management Plan
Mr. Li Dongsheng and Ningbo Jiutian Liancheng Equity Investment Partnership
(Limited Partnership) became persons acting in concert by signing the Agreement
Explanation on the above shareholders’ associations or on Concerted Action, holding 1,159,085,019 shares in total and becoming the
concerted actions largest shareholder of the Company.
Huizhou Investment Development Co., Ltd., and Huizhou Investment Holding
Co., Ltd. constitute persons acting in concert based on the ownership relationship.
As at the end of the Reporting Period, a shareholder of the Company, i.e., Huizhou
Investment Holding Co., Ltd. and its person acting in concert, i.e., Huizhou
Explanation on the top 10 ordinary shareholders participating Investment Development Co., Ltd., decreased the number of shares by 66,500,000
in securities margin trading (if any) shares due to their participation in the refinancing business; the shareholder
Wuhan Optical Valley Industrial Investment Co., Ltd. decreased the number of
shares by 280,620,000 shares due to its participation in the refinancing business.
II. Total number of preferred shareholders and shareholdings of the top 10 preferred shareholders
□ Applicable ?Not applicable
First Quarter 2023 Report of TCL Technology Group Corporation
Section V Other Significant Events
?Applicable □ Not applicable
Unit: RMB'0,000
Ending contractual
Gain/loss amount as % of the
Beginning amount Ending amount
in Company’s ending net
Type of contract
Reportin assets
Contractua Transactio Contractua Transactio g Period Contractua Transactio
l amount n limit l amount n limit l amount n limit
contracts -3,066
Total 2,446,618 84,974 2,912,722 108,231 -3,066 21.11% 0.78%
Accounting policies and specific accounting principles
for hedging business during the Reporting Period and a
No significant change.
description of whether there have been significant
changes from those of the previous reporting period
During the reporting period, profit from change in fair value of hedged
items was RMB58.25 million; profit from settlement of maturing
Description of actual profits and losses during the
forward exchange contracts was RMB34.02 million; and profit arising
Reporting Period
from valuation of effective forward exchange contracts was -
RMB122.93 million.
During the Reporting Period, the Company's main foreign exchange risk
exposures include exposures of assets and liabilities denominated in
foreign currencies arising from business such as outbound sales, raw
Description of the hedging effect material procurement and financing. The uncertain risks arising from the
exchange rate fluctuations were effectively hedged by derivative
contracts with the same purchase amounts and maturities in opposite
directions.
Title of announcement Date of disclosure Website for disclosure
Announcement on the Exhaustion of Proceeds from IPOs and
January 10, 2023
the Deregistration of Special Funding Accounts
Announcement on Capital Increase and Additional Share
Issuance of Subsidiary Zhonghuan Advanced Semiconductor www.cninfo.com.cn
January 20, 2023
Materials Co., Ltd. and the Acquisition of Xinxin
Semiconductor Technology Co., Ltd.
First Quarter 2023 Report of TCL Technology Group Corporation
Section VI Quarterly Financial Statements
I. Financial statements
Prepared by: TCL Technology Group Corporation
Unit: RMB
Item Ending balance Beginning balance
Current assets:
Monetary assets 38,048,025,406 35,378,501,261
Settlement reserves - -
Funds on loan - -
Held-for-trading financial assets 10,246,426,895 12,703,507,482
Derivative financial assets 251,359,134 361,034,230
Notes receivable 514,711,416 512,848,988
Accounts receivable 15,727,488,133 14,051,661,462
Receivables financing 3,502,980,188 1,103,127,764
Prepayments 3,573,085,834 3,593,856,572
Premiums receivable - -
Reinsurance accounts receivable - -
Reinsurance contract provisions receivable - -
Other receivables 3,178,673,010 4,033,248,387
Of which: Interests receivable - -
Dividends receivable 216,000,000 1,226,086
Financial assets purchased under sale-back agreement - -
Inventories 18,668,473,927 18,001,121,855
Contract assets 330,463,809 315,167,085
Held-for-sale assets - -
Non-current assets due within one year - -
Other current assets 6,521,842,373 5,438,935,717
Total current assets 100,563,530,125 95,493,010,803
Non-current assets:
Loans and advances to customers - -
Debt investments 848,232,539 741,703,137
Other debt investments - -
Long-term receivables 626,912,691 631,372,701
Long-term equity investments 28,442,902,804 29,256,215,804
Investments in other equity instruments 419,510,042 439,996,263
Other non-current financial assets 6,897,248,599 2,928,827,232
Investment property 1,010,441,283 946,449,125
Fixed assets 144,919,311,705 132,477,671,844
Construction in progress 46,302,522,741 52,053,833,629
Productive biological assets - -
Oil and gas assets - -
Right-of-use assets 5,437,319,261 5,110,123,904
Intangible assets 17,868,534,073 16,783,930,537
Development costs 2,493,497,183 3,179,207,056
Goodwill 10,341,857,559 9,161,852,161
Long-term deferred expenses 3,078,161,896 2,744,208,125
Deferred income tax assets 2,333,080,519 1,753,887,430
Other non-current assets 7,813,651,352 6,293,942,917
Total non-current assets 278,833,184,247 264,503,221,865
Total assets 379,396,714,372 359,996,232,668
Current liabilities:
First Quarter 2023 Report of TCL Technology Group Corporation
Short-term borrowings 10,494,805,699 10,215,910,963
Borrowings from the Central Bank 911,820,354 777,676,330
Borrowed funds 500,112,500 -
Held-for-trading financial liabilities 684,837,401 861,911,768
Derivative financial liabilities 74,642,812 70,734,905
Notes payable 7,907,085,234 6,365,659,580
Accounts payable 26,790,963,084 26,381,911,940
Advances from customers 660,363 1,402,178
Contract liabilities 2,586,278,480 2,336,008,164
Financial assets sold under repurchase agreements - -
Customer deposits and deposits from other banks and
financial institutions
Funds for brokering securities transaction - -
Funds for brokering securities underwriting - -
Remunerations payable 2,658,656,331 2,376,932,722
Taxes and levies payable 1,230,369,499 1,215,591,227
Other payables 23,671,698,141 24,190,353,350
Of which: Interests payable - -
Dividends payable 40,010,315 40,010,329
Service charges and commissions payable - -
Reinsurance accounts payable - -
Held-for-sale liabilities - -
Non-current liabilities due within one year 7,594,431,650 10,957,320,562
Other current liabilities 1,315,322,728 1,185,847,619
Total current liabilities 86,610,112,623 87,540,684,520
Non-current liabilities:
Insurance contract provisions - -
Long-term borrowings 128,772,688,397 118,603,164,839
Bonds payable 13,478,276,808 12,006,850,805
Of which: Preferred shares - -
Perpetual bonds - -
Lease liabilities 4,839,131,901 4,461,382,902
Long-term payables 1,533,196,765 887,762,713
Long-term employee compensation payable 482,150,813 472,538,409
Estimated liabilities 100,856,119 97,521,975
Deferred income 3,809,748,717 2,468,144,649
Deferred income tax liabilities 1,811,280,797 1,319,428,442
Other non-current liabilities - -
Total non-current liabilities 154,827,330,317 140,316,794,734
Total liabilities 241,437,442,940 227,857,479,254
Owner's equity:
Capital share 17,071,891,607 17,071,891,607
Other equity instruments - -
Of which: Preferred shares - -
Perpetual bonds - -
Capital reserves 12,006,084,762 12,522,792,596
Less: Treasury share 1,314,581,308 1,314,581,308
Other comprehensive income -763,814,827 -811,821,600
Specific reserves 4,530,430 2,301,029
Surplus reserves 3,712,272,814 3,712,272,814
General risk reserve 8,933,515 8,933,515
Retained earnings 18,937,732,668 19,486,731,824
Total equity attributable to the owners of the parent
company
Non-controlling interests 88,296,221,771 81,460,232,937
Total owner's equity 137,959,271,432 132,138,753,414
Total liabilities and owner's equity 379,396,714,372 359,996,232,668
First Quarter 2023 Report of TCL Technology Group Corporation
Legal representative: Person-in-charge of Financial affairs: Person-in-charge of the Accounting Department:
Li Dongsheng Li Jian Peng Pan
Unit: RMB
Amount incurred in the current Amount incurred in the
Item
period previous period
I. Total revenue 39,465,731,391 40,597,535,003
Of which: Operating revenue 39,443,242,439 40,566,851,319
Interest income 22,488,952 30,683,684
Earned premiums - -
Service charge and commission income - -
II. Total costs 40,491,139,667 40,004,606,380
Of which: Operating cost 35,357,669,407 35,594,751,040
Interest expenditures 5,205,619 9,336,013
Service charge and commission
- -
expenditures
Surrender value - -
Net claims payment - -
Net insurance liability provisions accrued - -
Policy dividend expenditures - -
Reinsurance expenses - -
Taxes and levies 171,412,685 137,883,718
Sales expenses 520,726,236 471,927,285
Administrative expenses 937,229,625 756,873,715
R&D expenses 2,593,998,005 2,042,751,101
Financial expenses 904,898,090 991,083,508
Including: Interest expenses 1,145,570,837 999,858,819
Interest income 213,027,337 176,470,746
Plus: Other income 531,668,577 976,625,863
Return on investment (losses are indicated by "-") 765,964,042 661,221,895
Of which: Share of profit or loss of joint
ventures and associates
Income from derecognition of
- -
financial assets measured at amortised costs
Exchange gains (losses are indicated by "-") -2,828,841 14,068,652
Gain on net exposure hedging (losses are indicated
- -
by "-")
Gain on changes in fair value (losses are indicated
by "-")
Credit impairment losses (losses are indicated by "-
-23,968,551 5,829,571
")
Asset impairment losses (losses are indicated by "-
-338,223,994 -246,385,486
")
Income from asset disposal (losses are indicated by
-15,124,996 -4,567,331
"-")
III. Operating profit (loss is indicated by “-”) 43,620,966 1,863,038,237
Plus: Non-operating income 10,152,922 581,485,774
First Quarter 2023 Report of TCL Technology Group Corporation
Less: Non-operating expenses 3,266,785 8,873,689
IV. Gross profit (gross loss is indicated by “-”) 50,507,103 2,435,650,322
Less: Income tax expenses -60,849,759 89,681,571
V. Net profits (net losses are indicated by "-") 111,356,862 2,345,968,751
(1) Classification by business continuity
are indicated by "-")
- -
losses are indicated by "-")
(2) Classification by ownership
-548,999,154 1,352,533,125
company
VI. Other comprehensive income, net of tax 25,847,967 107,592,545
Other comprehensive income attributable to the owners
of the parent company, net of tax
(1) Other comprehensive income that will not be
-19,294,731 -18,244,588
reclassified to profit or loss
- -
benefit plans
subsequently reclassified into profits and losses under the 682,618 -
equity method
-19,977,349 -18,244,588
equity instruments
- -
credit risks
(2) Other comprehensive income that may
subsequently reclassified into profit and losses
-670,638 129,581
transferred to profits and losses under the equity method
- -
comprehensive income
- -
investments
financial statements
Other net comprehensive income attributable to
-22,158,806 49,223,706
minority interests, net of tax
VII. Total comprehensive income 137,204,829 2,453,561,296
Total comprehensive income attributable to the
-500,992,380 1,410,901,964
shareholders of the parent company
Total comprehensive income attributable to non-
controlling interests
VIII. Earnings per share:
(1) Basic earnings per share -0.0326 0.1008
(2) Diluted earnings per share -0.0322 0.0993
Legal representative: Person-in-charge of Financial affairs: Person-in-charge of the Accounting Department:
Li Dongsheng Li Jian Peng Pan
First Quarter 2023 Report of TCL Technology Group Corporation
Unit: RMB
Amount incurred in the current Amount incurred in the
Item
period previous period
I. Net cash generated from operating activities:
Proceeds from sale of commodities and rendering of
services
Net increase of deposits from customers, banks and
-414,994,865 579,446,754
other financial institutions
Net increase of borrowings from the Central Bank 134,144,024 -505,812,976
Net increase of borrowings from other financial
institutions
Cash received from collecting premiums for original
- -
insurance contracts
Net cash received for reinsurance business - -
Net increase of deposits and investments of
- -
policyholders
Cash received from interest, service charges and
commissions
Net increase of borrowed funds from banks and other
- -
financial institutions
Net increase of repurchase business funds - -
Net cash received from brokering securities transaction - -
Tax and levy rebates 1,661,519,549 1,801,281,700
Cash generated from other operating activities 3,130,400,647 1,752,565,605
Sub-total of cash generated from operating activities 33,907,833,453 36,628,353,168
Payments for commodities and services 23,587,210,982 25,746,314,393
Net increase of loans and advances to customers -558,602,998 -291,363,670
Net increase of deposits with the Central Bank, banks
and other financial institutions
Cash paid for claims for original insurance contracts - -
Net increase of funds on loan - -
Cash paid for interest, service charges and commissions - -
Cash paid for policy dividends - -
Cash paid to and for employees 2,733,093,133 3,158,375,360
Taxes and levies paid 915,275,257 806,447,479
Cash used in other operating activities 2,629,818,082 3,141,634,495
Sub-total of cash used in operating activities 29,412,476,915 32,764,399,287
Net cash generated from operating activities 4,495,356,538 3,863,953,881
II. Net cash used in investing activities:
Proceeds from disinvestments 15,215,716,206 9,653,344,653
Proceeds from return on investments 380,580,542 239,383,580
Net proceeds from disposal of fixed assets, intangible
assets and other long-term assets
Net proceeds from disposal of subsidiaries and other
- -
business units
Cash generated from other investing activities 1,451,281,370 50,123,919
Sub-total of cash generated from investment activities 17,086,294,392 9,946,274,735
Payments for the acquisition and construction of fixed
assets, intangible assets and other long-term assets
Payments for investments 13,350,111,306 11,495,911,476
First Quarter 2023 Report of TCL Technology Group Corporation
Net increase of pledged loans - -
Net payments for acquiring subsidiaries and other
- -
business units
Cash used in other investing activities 187,762,364 100,914,607
Subtotal of cash used in investing activities 22,286,767,053 22,537,964,824
Net cash used in investing activities -5,200,472,661 -12,591,690,089
III. Net cash generated from financing activities:
Capital contributions received 15,215,716,206 2,571,180,000
Of which: Capital contributions by non-controlling
interests to subsidiaries
Borrowings raised 38,716,274 18,821,994,041
Cash generated from other financing activities - -
Sub-total of cash generated from financing activities 1,451,281,370 21,393,174,041
Cash paid for debt repayment 17,086,294,392 13,689,241,447
Cash paid for distribution of dividends and profits or the
repayment of interest
Of which: Dividends and profits distributed by
subsidiaries to minority shareholders
Cash used in other financing activities 4,287,733,637 1,979,130,282
Subtotal of cash used in financing activities 24,109,212,434 16,779,702,353
Net cash generated from financing activities 3,261,004,745 4,613,471,688
IV. Effect of exchange rate changes on cash and cash
-124,222,607 -27,326,776
equivalents
V. Net increase in cash and cash equivalents 2,431,666,015 -4,141,591,296
Plus: Beginning balance of cash and cash equivalents 33,675,624,291 30,081,704,864
VI. Ending balance of cash and cash equivalents 36,107,290,306 25,940,113,568
Legal representative: Person-in-charge of Financial affairs: Person-in-charge of the Accounting Department:
Li Dongsheng Li Jian Peng Pan
II. Auditor’s report
Whether the First Quarter Report has been audited or not?
□ Yes ? No
TCL Technology Group Corporation
Board of Directors
April 27, 2023
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