TCL科技：2021年第三季度报告（英文版）.PDF

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1、 Third Quarter 2021 Report of TCL Technology Group Corporation 1 Securities Code: 000100 Securities Abbreviation: TCL TECH. Announcement No.: 2021-115 TCL 科技集团股份有限公司科技集团股份有限公司 TCL Technology Group Corporation Third Quarter 2021 Report October 27, 2021Third Quarter 2021 Report of TCL Technology Group

2、 Corporation 2 Content Section I Important Notice . 3 Section II Key Financial Information . 4 Section III Management Discussion and Analysis . 8 Section IV Shareholder Information .17 Section V Other Important Matters .19 Section VI Quarterly Financial Statements .20 Third Quarter 2021 Report of TC

3、L Technology Group Corporation 3 Section I Important Notice 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 t

4、rue, accurate and complete, and shall be jointly and severally liable for any misrepresentations, misleading statements or material omissions therein. The Companys legal representative, person in charge of accounting (Chief Financial Officer) and head of the accounting department hereby certify that

5、 the financial information set out in the quarterly report is true, accurate and complete. All directors have attended the Board meeting for the review of this report. This report has not been audited. This report has been prepared in both Chinese and English. Should there be any discrepancies or mi

6、sunderstandings between the two versions, the Chinese version shall prevail.Third Quarter 2021 Report of TCL Technology Group Corporation 4 Section II Key Financial Information I. Main accounting data and financial indicators Does the Company need to retroactively adjust or restate the accounting da

7、ta of previous years? Yes No July to September 2021 Change (%) January to September 2021 Change (%) Revenue (RMB) 46,629,888,432 140.65% 120,928,535,190 148.26% Net profits attributable to the companys shareholders (RMB) 2,318,085,363 183.69% 9,101,970,170 349.44% Net profits attributable to the com

8、panys shareholders before non-recurring gains and losses (RMB) 3,060,177,204 351.23% 8,557,995,151 895.06% Net cash generated from operating activities (RMB) 23,959,709,061 101.83% Basic earnings per share (RMB / share) 0.1730 173.73% 0.6756 332.25% Diluted earnings per share (RMB / share) 0.1652 17

9、3.51% 0.6487 333.33% Weighted average return on equity (%) 6.20% 3.54% 25.16% An increase of 18.42 percentage points 30 September 2021 31 December 2020 Change (%) Total assets (RMB) 305,386,375,811 257,908,278,887 18.41% Owners equity attributable to the companys shareholders (RMB) 39,483,249,414 34

10、,107,795,454 15.76% The total share capital at the end of the last trading session before the disclosure of this Report: Total share capital at the end of the last trading session before the disclosure date (share) 14,030,642,421 Fully diluted earnings per share based on the latest total share capit

11、al above: Fully diluted earnings per share calculated based on the latest total share capital above (RMB / share) 0.6487 II. Non-recurring profit and loss items and amount Applicable Not applicable Third Quarter 2021 Report of TCL Technology Group Corporation 5 Unit: RMB Item Amount for the current

12、reporting period Amount from the beginning of the year to the end of the reporting period Gains and losses on disposal of non-current assets (inclusive of impairment allowance write-offs) -785,538,181.00 -46,198,134.00 Government subsidies charged to current profits and loss (except for government s

13、ubsidies closely related to the Companys normal business which comply with national policies and regulations and are enjoyed on an ongoing basis according to certain standard quotas or quantities) 250,706,085.00 609,898,567.00 Gain equal to the amount by which investment costs for the Company to obt

14、ain subsidiaries, associates and joint ventures are lower than the Companys enjoyable fair value of identifiable net assets of investees when making investments - 40,299,579.00 The profits and losses generated from changes in fair value arising from holding marketable financial assets and marketable

15、 financial liabilities, as well as the investment-related income from the disposal of marketable financial assets, marketable financial liabilities and available-for-sale financial assets, except for the effective hedging business related to the Companys normal business operation. 7,578,933.00 217,8

16、52,030.00 Other gains and losses that meet the definition of non-recurring gain/loss 20,182,634.00 264,752,193.00 Less: Corporate income tax 52,430,322.00 135,316,019.00 Non-controlling interests (net of tax) 182,590,990.00 407,313,197.00 Total -742,091,841.00 543,975,019.00 Details of other profit

17、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 - that which is listed in the Explanatory An

18、nouncement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public - Non-Recurring Gain/Loss shall be used to define Recurring Gain/Loss items Applicable Not applicable The Company does not have any non-recurring profit and loss items listed in the Explanatory Announcem

19、ent on Information Disclosure of Companies Offering Securities to the Public No. 1 - Non-recurring Profits and Losses that are defined as recurring profit and loss items. III. Changes of main accounting data and financial indicators and reasons therefor Applicable Not applicable Third Quarter 2021 R

20、eport of TCL Technology Group Corporation 6 Unit: RMB Balance Sheet items Ending balance Beginning balance Increase / decrease ratio (%) Reason for change Notes receivable 3,379,119,189 595,685,338 467.3 Mainly due to the expansion of operating revenue scale Prepayments 2,951,934,848 1,355,653,454 1

21、17.7 Mainly due to the increase of prepayment Accounts receivable 21,099,262,446 12,557,614,486 68.0 Mainly due to the expansion of operating revenue scale Other receivables 3,885,453,661 2,793,640,153 39.1 Mainly due to the increase of equity transfer funds Inventories 14,458,361,006 8,834,957,692

22、63.6 Mainly due to the expansion of operating revenue scale Investment property 701,618,665 1,664,201,130 -57.8 Mainly due to the merger of Moka Development costs 2,909,088,335 2,103,994,558 38.3 Mainly due to the increase of R&D investment Goodwill 9,125,488,681 6,943,264,794 31.4 Mainly due to the

23、 merger of Moka and CSOT Suzhou Long-term deferred expenses 1,627,220,359 2,536,670,015 -35.9 Mainly due to the impact of the new Leasing Standards Deferred income tax assets 2,117,664,125 1,578,087,991 34.2 Mainly due to the merger of CSOT Suzhou Other non-current assets 6,566,151,346 12,532,852,63

24、0 -47.6 Mainly due to the decrease of prepayments for equipment Short-term borrowings 7,615,688,682 12,263,713,979 -37.9 Mainly due to repayment for borrowings Borrowings from the Central Bank 1,289,155,102 469,834,291 174.4 Mainly due to the increase of borrowings from the Central Bank by the Finan

25、ce Company Held-for-trading financial liabilities 1,029,572,413 527,901,041 95.0 Mainly due to the increase of financial products Taxes and levies payable 1,695,966,861 670,058,792 153.1 Mainly due to the increase of taxes and surcharges caused by the increase of performance Long-term payables 497,3

26、41,480 1,280,299,665 -61.2 Mainly due to the impact of the new Leasing Standards Income Statement January to January to Increase / Reason for change Third Quarter 2021 Report of TCL Technology Group Corporation 7 items September 2021 September 2020 decrease ratio (%) Revenue 120,928,535,190 48,709,9

27、87,251 148.3 Mainly due to the expansion of sales scale and the merger of Zhonghuan Electronic and Moka Cost of sales 95,426,765,891 43,507,752,953 119.3 Mainly due to the expansion of operating revenue scale and the merger of Zhonghuan Electronic and Moka Sales expense 1,552,806,398 548,204,916 183

28、.3 Mainly due to the expansion of operating revenue scale and the merger of Zhonghuan Electronic Administrative expense 3,008,738,778 1,215,567,756 147.5 Mainly due to the expansion of operating revenue scale and the merger of Zhonghuan Electronic R&D expense 5,274,324,791 2,800,775,204 88.3 Mainly

29、due to the increase of R&D investment and the merger of Zhonghuan Electronic Finance expenses 2,827,514,469 1,453,054,866 94.6 Mainly due to the increase of financing scale and the merger of Zhonghuan Electronic Return on investment 2,884,044,180 1,951,687,393 47.8 Mainly due to the merger of Zhongh

30、uan Electronic Income tax expense 2,102,388,345 338,749,095 520.6 Mainly due to the increase of operating profits and the merger of Zhonghuan Electronic Net profit attributable to non-controlling interests 4,061,307,528 36,529,164 11,018.0 Mainly due to the increase of net profits and the merger of

31、Zhonghuan Electronic Cash Flow Statement items January to September 2021 January to September 2020 Increase / decrease ratio (%) Reason for change Net cash generated from in operating activities 23,959,709,061 11,871,070,129 101.8 Mainly due to the expansion of operating revenue scale, the improveme

32、nt of operating profits and the merger of Zhonghuan Electronic Net cash generated from financing activities 8,683,436,043 23,485,740,179 -63.0 Mainly due to the increase of repayment for borrowings during the current reporting period Third Quarter 2021 Report of TCL Technology Group Corporation 8 Se

33、ction III Management Discussion and Analysis I. Overview The COVID-19 epidemic and reverse globalization is reshaping the global political and economic landscape, and global industrial chains are becoming increasingly unstable, posing severe challenges for Chinas manufacturing enterprises. China has

34、 proposed the building of a new development pattern centered around domestic circulation while also encouraging the mutual promotion of dual domestic-international circulation, which, with the strategic support from scientific and technological self-reliance and self-improvement, will promote Chinas

35、 science and technology industries to break through the development bottleneck and establish a commanding height of scientific and technological innovation. Facing the challenges and opportunities head on, the Company has focused on the development of two major, core technology industries, i.e., sem

36、iconductor displays, and semiconductor photovoltaics and semiconductor materials, adhering to the business strategy of “Improving Business Quality and Efficiency, Strengthening Advantages and Making up for Disadvantages, Accelerating Global Layout, and Innovation-driven Development”, establishing a

37、relative corporate competitive advantage, and continuing to press on towards global leadership. In the first three quarters, the Company achieved operating revenue of RMB 120.93 billion, a year-on-year increase of 148.3%; achieved net profit of RMB 13.16 billion, a year-on-year increase of 538.5%; a

38、chieved net profit attributable to the shareholders of listed companies of RMB 9.1 billion, a year-on-year increase of 349.4%; exceeded the budget in an overall manner with respect to semiconductor displays business, and semiconductor photovoltaics and semiconductor materials business, achieving a r

39、ecord-high in performance. The prosperity of the semiconductor display industry was higher than that of the same period in the previous year. The Companys main production lines maintained full sales and produced at full production capacity, factory t7 ramped up as scheduled, factory t10 was integrat

40、ed smoothly after consolidation in Q2, and the Company continued to promote the strategy of business diversification and high-end product structure, and led the industry in efficiency and benefits. The semiconductor display industry achieved operating revenue of RMB 66.56 billion, a year-on-year inc

41、rease of 106% and net profit of RMB 9.74 billion, a year-on-year increase of 1620%. The Companys advantageous production capacity of Third Quarter 2021 Report of TCL Technology Group Corporation 9 semiconductor photovoltaics 210 mm silicon wafers has accelerated, and a quality supply chain system ha

42、s ensured the substantial growth of production and sales scale and profit; the semiconductor materials businesss 8-12 inch large silicon wafer project is progressing smoothly, and the product and customer structures are constantly improving; the Industry 4.0 production mode has further improved per-

43、capita labor productivity, product quality and consistency, and has reduced material consumption and operating costs, and significantly enhanced industry competitiveness. Zhonghuan Semiconductor achieved operating revenue of RMB 29.09 billion, a year-on-year increase of 117%, and net profit of RMB 3

44、.28 billion, a year-on-year increase of 190%. Due to the one-time financial impact from the disposal of Fantasia Properties equity, the performance of the Companys investment business segment in Q3 decreased significantly year-on-year, while other businesses in the industrial finance and investment

45、business segment operated well. The Company has adopted scientific and technological innovation as the core driving force for corporate development. In the first three quarters, the Company invested RMB 6.5 billion in research and development, a year-on-year increase of 51.1%, accounting for 5.4% of

46、 the operating revenue, whereby the Company focused on the development of new display technologies such as Mini LED, Micro LED, printed OLED and QLED, the improvement of the leading photovoltaics technology platform combining G12 large silicon wafers and shingled PV 3.0, the process improvement of 8

47、-inch and 12-inch semiconductor materials, as well the advanced research and collaboration of the upstream core nodes in industrial chains and the establishment of an industrial ecological alliance. As of the end of September 2021, the number of Companys PCT patent applications reached 13,517, and t

48、he number of patent applications in the field of quantum dot electroluminescence technology and materials has reached 1,778, ranking #2 globally. The global economy is complex and ever-changing under the normalization of the COVID-19 epidemic and international economic and trade frictions. We believ

49、e that accelerating the development of the high-end manufacturing industry is the only way for China to sustain economic development and overcome the middle-income trap; actively participating in global competition is also an inevitable option for Chinese manufacturing enterprises to become bigger a

50、nd stronger. Rooted in the science and technology industries, the Company has a global layout and is moving towards leadership, relying on lean management, technological innovation and industrial ecology as the foundation for competitiveness. In the field of semiconductor displays, the Company has T