On the evening of January 15, TCL Group released its 2017 annual performance forecast, revealing that the company's net profit for the year is expected to range between 3.5 billion and 3.8 billion yuan. This represents a significant increase of 64% to 78% compared to the same period in 2016.
In its announcement, TCL Group attributed the strong growth in profits to several key factors. The investment in Huaxing Optoelectronics contributed positively, with the LCD panel industry experiencing a strong upturn. Additionally, Huaxing Optoelectronics saw a substantial year-on-year increase in net profit. The multimedia business continued to grow steadily, and the enterprise transformation initiated at the end of 2016 yielded positive results. The non-core business divestment plan also progressed smoothly, enhancing the company’s overall asset returns.
During 2017, TCL Group remained committed to its "double +†strategy of "smart + Internet" and "product + service." As a result, the sales of main products continued to rise, and the number of active users on its smart network terminals increased rapidly. The company sold a total of 23.773 million LCD TVs throughout the year, marking a 15.9% year-on-year increase. Among these, smart Internet TVs accounted for 15.127 million units, showing a 34.8% growth. By the end of 2017, the cumulative number of active users on smart TV terminals reached 23.537 million.
China Star Optoelectronics has long been a major contributor to TCL Group's profitability. In 2017, the t1 and t2 production lines of China Star Optoelectronics produced 3.387 million glass substrates, an increase of 19.9% compared to the previous year. The production capacity utilization rate and product yield remained among the best in the industry. Meanwhile, the t3 production line expanded its product range and increased supply to top-tier brand customers. The growth in production capacity and full-scale sales of Huaxing Optoelectronics helped drive higher profitability in the semiconductor display sector, with Huaxing Solar also seeing a notable increase in net profit.
TCL Appliances Group maintained stable operations in 2017, with air conditioner and washing machine sales increasing by 26.9% and 11.5%, respectively. However, refrigerator sales declined by 4.78% year-on-year.
On the other hand, TCL's communications business underperformed expectations, selling 43.876 million units of communication equipment and related products during the year.
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