TCL Electronics: 2021 revenue of HK$74.85 billion

TCL Electronics released its 2021 annual report, saying that the profit in 2021 was HK$1.184 billion, a year-on-year decrease of 67.11%; the total operating income was HK$77.876 billion, a year-on-year increase of 52.0%. TCL Electronics said that in 2021, the global new crown epidemic will still be severe, and the international political and economic situation will become more complex; at the same time, the prices of upstream raw materials and international logistics will fluctuate violently, and the operating environment will be extremely challenging. However, the scale of the industry in which the company operates is still expanding. Changes are accelerating. TCL Electronics has been actively transforming and innovating, with the strategy of "brand-leading value, relative cost advantage", breaking through the mid-to-high-end market, exploring overseas markets, and opening up new business tracks. Display business, innovative business, and Internet business have grown significantly.

In 2021, the company will realize operating income from continuing operations of HK$74.85 billion, a year-on-year increase of 46.9%; gross profit will reach HK$12.53 billion, a year-on-year increase of 29.7%; while focusing on core business development, the company is actively improving production capacity, channels, R&D, and brands. In terms of synergies, cost reduction and efficiency enhancement were strengthened, and the expense ratio decreased by 0.5 percentage points year-on-year to 15.0%.

Affected by the rise in raw material prices, the company's net profit attributable to the parent from continuing operations for the year reached HK$1.18 billion, a year-on-year decrease, but upstream panel prices gradually fell in the second half of 2021, and the company's gross profit margin increased in the third quarter of 2021. Since then, it has continued to rebound. Subject to shareholders' approval, the board of directors recommends an annual dividend of HK$16.70 per share, with a full-year dividend payout ratio of 35.0% of the net profit attributable to the parent company.

The announcement shows that in 2021, Falcon's annual revenue will increase by 59.2% year-on-year to HK$1.52 billion. The growth in performance is mainly due to Falcon's continuous innovation in technology and application scenarios, and actively creating full-scenario smart home services for users. While the efficiency of the main business has been improved, the scale of the innovative business has been achieved. Among them, membership business income increased by 62.3% year-on-year, vertical and innovative business income increased by 78.1% year-on-year, and innovative businesses such as children's business, large-screen education, etc. showed a rapid growth trend, of which children's business increased by 316.8% year-on-year, and innovative business has gradually become an A new engine for company revenue growth. In addition, Thunderbird's ARPU in 2021 will reach HK$76.2, a year-on-year increase of 43.4%.

TCL Electronics said that in 2021, the global TV market will be affected by the increase in screen prices and the pre-epidemic demand. Although the overall market shipments will be suppressed, the global market share of TCL smart screens will continue to increase to 11.5% in 2021, ranking first in the world. three. At the same time, the company has broken through the mid-to-high-end and continued to optimize its product structure, driving the global sales of TCL smart screens to increase by 24.3% year-on-year to HK$49.27 billion in 2021. The overall sales performance is better than the industry average. At the forefront of technological change in the industry, TCL Electronics continues to lead the global wave of intelligent and technologically advanced large-screen displays. With its leading layout in the Mini LED field, the company's mid-to-high-end smart screen sales have grown significantly. Quantum dot smart screens and The sales volume of Mini LED smart screens increased by 53.8% and 50.5% year-on-year, respectively.

In the international market, in 2021 TCL Chi-screen international market sales grew 7.6%, the average selling price increased by 25.1%; sales revenue of HK $ 36.03 billion, an increase of 34.7%; gross margin reached 16.1%, flat year on year. In which the sub-regional market, the 2021 TCL Chi screens in North American sales grew 24.8%, while the market share of its sales in the US market, ranking second; the company's continued focus on cultivating emerging market countries, emerging market sales up an increase of 38.7%, of which Australia, Pakistan, Chile screen TCL sales market share rankings ranked first; the European market continued high growth, sales rose 52.2%.

In the Chinese market, in 2021 after screen, after significant price rise gradually fell in July, during the company adopted optimize the product structure, increase in selling price and other strategies to actively respond to rising raw material prices, a greater degree of upward pressure on the cost of coverage. 2021, Chinese market TCL Chi-screen average price increase of 36.0 percent year on year, driven by sales revenue grew 2.9 percent to HK $ 13.24 billion; gross margin was 18.3%. At the same time, the company ushered in a breakthrough in high-end products, the product big-screen trend becoming increasingly apparent. The company sold an average wisdom screen size of 49.9-inch 2020 to 2021 to enhance the 2.5-inch 52.4-inch, 65-inch, and above screen, TCL Chi enhances sales accounted for 8.3 percentage points to 27.0%.

In terms of small and medium-size display business, the company's total sales volume of small and medium-size display business reached 25.31 million units, a year-on-year increase of 7.5%; revenue was HK$14.38 billion, a year-on-year increase of 29.5%. From a global point of view the focus of the market, the company's mobile phone sales in 2021 ranked third in Canada, ranked fourth in the United States, ranked fifth in Australia and Western Europe; in 2021 the company's intelligent Andrews flat sales ranked fourth in the world, which It ranks third in the United States, fourth in Latin America, and fifth in Western Europe. Meanwhile, the company introduced a variety of TCL 20 Series, 30 Series 5G mobile phones, as well as "science quiz" eye education tablet, the mainline network operators worldwide channel sales at the forefront of European and American markets.

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