TCL Electronics' net profit attributable to parent company in the first half of 2024 was HK$650 million, a year-on-year increase of 146.5%

According to news from this site on August 23, TCL Electronics has just announced its 2024 interim results. The highlights of this site are as follows: revenue of HK$45.49 billion, a year-on-year increase of 30.3%; gross profit of HK$7.748 billion, a year-on-year increase of 19.2%; Net profit was HK$650 million, a year-on-year increase of 146.5%; adjusted net profit attributable to parent companies was HK$654 million, a year-on-year increase of 147.3%. Basic earnings per share were HK$26.69. Internet business revenue was HK$1.21 billion, a year-on-year increase of 8.9%; gross profit margin remained at 54.0%. Innovative business revenue was HK$13.95 billion, a year-on-year increase of 60.6%; gross profit was HK$2.01 billion, a year-on-year increase of 64.1%. Photovoltaic business revenue and gross profit were HK$5.27 billion and HK$540 million respectively, a significant year-on-year increase of 212.7% and 322.5%; gross profit margin increased by 2.7 percentage points year-on-year to 10.3%. The administrative expense rate decreased by 1.1 percentage points year-on-year to 4.1%; the sales and distribution expense rate decreased by 0.9 percentage points year-on-year to 9.6%; the overall expense rate decreased by 2.0 percentage points year-on-year to 13.7%.

TCL said that in the first half of this year, global TV shipments increased by 9.2% year-on-year to 12.52 million units, and the shipment market share increased by 0.9 percentage points year-on-year to 13.3%, maintaining the second position in the world, including 75-inch Global shipments of TVs and above increased by 34.5% year-on-year, driving the company's large-size display business revenue to increase by 23.2% year-on-year to HK$25.91 billion.

According to reports, global shipments of TCL quantum dot TVs and Mini LED TVs increased by 64.4% and 122.4% year-on-year respectively, with Mini LED TV shipments maintaining the world's leading level.

In the Chinese market, TCL's shipments in the first half of the year bucked the trend and increased by 5.4% year-on-year, and revenue increased by 21.1% year-on-year to HK$8.35 billion. At the same time, TCL TV shipments of 75 inches and above increased by 17.7% year-on-year, and its share increased by 3.5% year-on-year. percentage points to 33.2%. Mini LED TV shipments increased by 120.1% year-on-year and the shipment volume share increased by 4.5 percentage points year-on-year to 8.6%. Retail volume ranked first in the Chinese market.

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