TCL Technology (000100) Q4 2025 earnings summary

Executive summary

• Operating revenue reached RMB 184.06 billion, up 11.7% YoY; net profit attributable to shareholders was RMB 4.52 billion, up 188.8% YoY; net cash flow from operating activities rose 49.1% YoY to RMB 44.02 billion.

• Display business, new energy photovoltaics, and silicon materials remained core pillars, with significant growth in display and silicon segments.

• Major strategic acquisitions and capacity expansions in display and silicon materials, including completion of LGD Guangzhou factory acquisition and new OLED production lines.

Financial highlights

• Operating revenue: RMB 184.06 billion (+11.67% YoY).

• Net profit attributable to shareholders: RMB 4.52 billion (+188.78% YoY).

• Net profit after non-recurring items: RMB 2.90 billion (+870.95% YoY).

• Basic EPS: RMB 0.2333 (+177.08% YoY).

• Net cash from operating activities: RMB 44.02 billion (+49.09% YoY).

• Gross margin for display business: 20.10% (+0.95pp YoY).

Outlook and guidance

• Focus remains on global leadership in displays and new energy photovoltaics.

• Continued investment in R&D and AI-driven manufacturing to enhance competitiveness.

• Confidence in achieving further performance growth in 2026, with restorative growth targeted for photovoltaics.