On the evening of January 15, TCL Group released its 2017 annual performance forecast. The company reported that its net profit for the year is expected to range between 3.5 billion and 3.8 billion yuan, marking a significant increase of 64% to 78% compared to the previous year. This strong performance reflects the company’s continued focus on strategic growth and operational efficiency.
According to the announcement, the key drivers behind the profit growth include the increased investment in Huaxing Optoelectronics, which saw a substantial rise in net profit. Additionally, the LCD panel industry experienced a strong upswing, contributing positively to the overall results. The multimedia business also showed steady growth, while the enterprise transformation initiated at the end of 2016 started delivering tangible benefits. The non-core business divestment plan progressed smoothly, enhancing the company's asset efficiency and profitability.
In 2017, TCL Group continued to implement its "double + " strategy, focusing on "smart + Internet" and "product + service." This approach helped drive both product sales and user engagement. The group sold a total of 23.773 million LCD TVs during the year, representing a 15.9% increase from the previous year. Among these, smart Internet TVs accounted for 15.127 million units, showing a 34.8% year-on-year growth. By the end of 2017, the number of active users for its smart network TV terminals reached 23.537 million, demonstrating the success of its digital transformation efforts.
Among TCL Group’s various business segments, China Star Optoelectronics remained a major contributor to profits. In 2017, the t1 and t2 production lines produced 3.387 million glass substrates, an increase of 19.9% compared to the same period last year. The production capacity utilization and product yield rates remained among the best in the industry. Meanwhile, the t3 production line expanded its range of display products, with growing supply to top-tier brand customers. Thanks to the expansion of Huaxing Optoelectronics' production and full-scale sales, the semiconductor display sector enjoyed a more prosperous environment than the previous year, leading to a notable increase in Huaxing Solar's net profit.
TCL Appliances Group maintained stable operations in 2017, with air conditioner and washing machine sales rising by 26.9% and 11.5%, respectively. However, refrigerator sales declined slightly by 4.78% year-on-year. On the other hand, the communications business underperformed expectations, with the sale of 43.876 million units of communication devices and related products. Overall, TCL Group demonstrated resilience and adaptability in navigating market challenges, reinforcing its position as a leading player in the global electronics industry.
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