Stock Code: 000100 Stock Abbr.: TCL TECH. Announcement No.: 2026-093
TCL科技集团股份有限公司
TCL Technology Group Corporation
Third Quarter 2026 Report
October 2026
Content
Section I Important Notices and Definitions ......... 3
Section II Key Financial Information ................ 5
Section III Management Discussion and Analysis ...... 8
Section IV Shareholder Information ................. 16
Section V Other Significant Events ................. 18
Section VI Quarterly Financial Statements ...........19
Section I Important Notices and Definitions
The Board of Directors (or the “Board”) the directors and senior
management of TCL Technology Group Corporation (hereinafter referred to
as the “Company”) hereby guarantee that this quarterly report is factual
accurate and complete and shall be jointly and severally liable for any
misrepresentations misleading statements or material omissions therein.Mr. Li Dongsheng the person-in-charge of the Company Ms. Li Jian the
person-in-charge of financial affairs (Chief Financial Officer) and Ms. Jing
Chunmei the person-in-charge of the financial department hereby guarantee
that the financial statements in this Report are factual accurate and complete.All of the Company’s directors attended the Board meeting for the review
of this Third Quarter 2026 Report.The future plans development strategies or other forward-looking
statements mentioned in this Report shall NOT be considered as promises of
the Company to investors. Therefore investors are kindly reminded to pay
attention to possible investment risks.This Report has not been audited. This Report has been prepared in both
Chinese and English. Should there be any discrepancies or misunderstandings
between the two versions the Chinese version shall prevail.Definitions
Term Refers to Definition
The “Company” the “Group” “TCLTECH.” “TCL” or “we” Refers to TCL Technology Group Corporation
The "Reporting Period" "current
period" Refers to The period from July 1 2026 to September 30 2026
TCL CSOT Refers to TCL China Star Optoelectronics Technology Co. Ltd.TCL Zhonghuan Renewable Energy Technology Co. Ltd. a majority-
TZE Refers to owned subsidiary of the Company listed on the Shenzhen Stock Exchange
(stock code: 002129.SZ)
Zhonghuan Advanced Refers to Zhonghuan Advanced Bandaoti Technology Co. Ltd.Moka Technology Refers to Moka International Limited
TPC Refers to Tianjin Printronics Circuit Corporation a majority-owned subsidiary of theCompany listed on the Shenzhen Stock Exchange (stock code: 002134.SZ)
t1 Refers to The generation 8.5 (or G8.5) TFT-LCD production line at TCL CSOT
t2 Refers to The generation 8.5 (or G8.5) TFT-LCD (oxide) production line at TCLCSOT
t3 Refers to The generation 6 (or G6) LTPS-LCD panel production line at Wuhan CSOT
t4 Refers to The generation 6 (or G6) flexible LTPS-AMOLED panel production line atWuhan CSOT Bandaoti
t5 Refers to The generation 6 (or G6) new display production line at Wuhan CSOT
t6 Refers to The generation 11 (or G11) new TFT-LCD display production line atShenzhen CSOT Bandaoti
t7 Refers to The generation 11 (or G11) new ultra high definition display production lineat Shenzhen CSOT Bandaoti
t8 Refers to The generation 8.6 (or G8.6) printed OLED production line at TCL CSOT
t9 Refers to The generation 8.6 (or G8.6) new oxide display production line atGuangzhou CSOT
t10 Refers to The generation 8.5 (or G8.5) TFT-LCD production line at Suzhou CSOT
t11 Refers to The generation 8.5 (or G8.5) TFT-LCD production line at Guangzhou CSOT
t12 Refers to The generation 5.5 (or G5.5) printed OLED production line at Wuhan CSOT
RMB Refers to Renminbi
Section II Key Financial Information
(I) Key accounting data and financial indicators
Indicate whether there is any retrospectively adjusted or restated datum in the table below
□Yes ?No
From the beginning of
Q3 2026 Change the year to the end of Change
the reporting period
Operating revenue
50051893008 -0.66% 138700079937 2.03%
(RMB)
Net profits attributable
to the company’s 1312164408 12.80% 5120437375 68.06%
shareholders (RMB)
Net profits attributable
to the company's
shareholders after non- 1012564865 16.37% 4152447182 70.96%
recurring gains and
losses (RMB)
Net cash generated
from operating — — 24789987156 -26.74%
activities (RMB)
Basic earnings per
0.0605 2.54% 0.2466 53.74%
share (RMB/share)
Diluted earnings per
0.0502 -13.60% 0.2333 47.29%
share (RMB/share)
Weighted average Decrease by 0.68 Increase by 1.97
1.46% 7.65%
return on equity (%) percentage points YoY percentage points YoY
September 30 2026 December 31 2025 Change
Total assets (RMB) 369550646990 372738314312 -0.86%
Equity attributable to
shareholders of the 68931546690 61432756524 12.21%
Company (RMB)
(II) Non-recurring profit and loss items and amount
?Applicable□Not applicable
Unit: RMB
Amount from the beginning of the year to
Item Amount in the Reporting Period
the end of the Reporting Period
Gains and losses on disposal of non-
current assets (inclusive of impairment 128666471 660734374
allowance write-offs)
Public grants charged to current gains and
losses (except for public grants that are
closely related to the Company's daily
operations comply with national policies 742884927 1968735163
are granted based on determined
standards and have a continuous impact
on the Company's gains and losses)
The profits or losses generated from
changes in fair value arising from
financial assets and financial liabilities
held by non-financial enterprises and the
profits or losses from the disposal of such -625471 -684522
financial assets and financial liabilities
except for the effective hedging business
related to the Company’s normal business
operations
Non-operating income and expenses other
-424611315 -261679867
than the above
Less: Amount affected by income tax 127728823 415850627
Amount affected by equity of
18986246 983264328
minority shareholders (net of tax)
Total 299599543 967990193
Details of other profit and loss items that meet the definition of non-recurring profits and losses:
□Applicable ?Not applicable
The Company has no other profit and loss items that meet the definition of non-recurring profits and losses.Notes on defining non-recurring profit and loss items that are listed in the Explanatory Announcement No. 1 on Information
Disclosure for Companies Offering Their Securities to the Public—Non-Recurring Gain/Loss as recurring profit and loss items
□Applicable ?Not applicable
The Company does not have any non-recurring profit and loss items listed in the Explanatory Announcement No. 1 on Information
Disclosure for Companies Offering Their Securities to the Public—Non-Recurring Gain/Loss that are defined as recurring profit
and loss items.(III) Changes in key accounting data and financial indicators and reasons for such changes
?Applicable□Not applicable
Unit: RMB
Balance Sheet items Ending balance Beginning Increase/decreasebalance ratio (%) Reason for change
Mainly due to increased purchases
Cash and cash equivalents 15338339927 30460060493 -49.6% of liquid low-risk wealth
management products
Held-for-trading financial 20110651486 14473193131 39.0% Mainly due to the increase inassets wealth management products
Inventories 25328162578 18370708289 37.9% Mainly due to increased strategicinventory stocking
Other non-current financial Mainly due to new investments
assets 4711730596 3172659077 48.5% and increases in fair value duringthe Reporting Period
Mainly due to increased
Construction in progress 21030010165 16176848470 30.0% investment in t8 during the
Reporting Period
Mainly due to the recognition of
Deferred tax assets 3951985419 2936332280 34.6% deferred tax assets arising fromdeductible temporary differences
during the Reporting Period
Mainly due to subsidiaries newly
Notes payable 9912403757 6465600185 53.3% included in the scope ofconsolidation during the Reporting
Period
Contract liabilities 3047398515 2009842277 51.6% Mainly due to an increase inadvances received from customers
during the Reporting Period
Income Statement items Current balance Prior balance Increase/decreaseratio (%) Reason for change
Other income 1039130027 1767528756 -41.2% Mainly due to the decrease inpublic grants
Mainly due to the increase in
Gain on changes in fair value 1270731744 595629955 113.3% income from wealth management
products
Mainly due to the recognition of
Non-operating expenses 555128400 176001781 215.4% provisions during the Reporting
Period
Mainly due to the recognition of
Income tax expense -485358133 529171588 -191.7% deferred income tax expenses
arising from temporary differences
Cash Flow Statement items Current balance Prior balance Increase/decreaseratio (%) Reason for change
Net cash generated from Mainly due to the decrease in
financing activities -18404532769 -11998268686 53.4% financing activities during theReporting Period
Section III Management Discussion and Analysis
I. Overall Operating Performance of the Company During the Reporting Period
Since the start of the year escalating international geopolitical conflicts and surging upstream
energy prices have reignited upward pressure on inflation. Against this backdrop the momentum
of global economic growth has weakened with macroeconomic uncertainties increasing
substantially. In the face of external challenges the Company focused on three key business
pillars including displays new energy photovoltaics and other silicon materials. We
continuously strengthened the operations barriers characteristic of high-tech heavy-asset and
long-cycle industries anchored our leading strategy and pursued sustainable high-quality
development.In the first three quarters of 2026 the Company achieved operating revenue of RMB 138.7
billion representing a 2.03% increase YoY. Net profit attributable to shareholders reached RMB
5.12 billion surging 68.1% YoY while operating cash flow totaled RMB 24.79 billion. As of the
end of the Reporting Period the Company’s debt-to-asset ratio stood at 66.6% an increase of 2.4
percentage points from the end of the previous year due to acquisitions of minority interests in
subsidiaries cash dividend payments and other factors; cash and cash equivalents at the end of the
Reporting Period totaled RMB 14 billion.II. Operations Performance of the Company’s Core Businesses During the Reporting Period
The Company was deeply engaged in leading edge manufacturing industries characterized by
high technology heavy assets and long cycles with displays new energy photovoltaics and other
silicon materials at its core and continuously promoted technological innovation and industrial
advancement supporting the strategic goals of global leadership.(I) Display Business
1. TCL CSOT
In the first three quarters of 2026 end-market demand in the global display industry remained
under pressure overall while the product mix continued to upgrade and performance varied across
application markets. Rising prices for memory and other components pushed up device costs
affecting the timing of purchases by some smartphone and notebook brands. Meanwhile the shift
toward larger TVs the adoption of multiple in-vehicle displays and the expansion of high-end
display applications continued to support structural demand. In the third quarter peak-season
inventory stocking by TV brands and demand-based production by major panel manufacturers
kept TV panel supply and demand broadly balanced. Prices for major TV panel sizes stabilized in
September following modest declines in July and August while monitor and notebook panel
prices remained generally stable. Flexible OLED smartphone panel prices remained under
pressure amid cautious purchasing by brands and market competition. Rising upstream costs
placed greater demands on panel manufacturers’ product mix optimization supply chain
management and operational efficiency.During the Reporting Period TCL CSOT remained focused on value-oriented operation
responding to market changes through demand-based production product mix optimization and
efficiency improvements to maintain operational resilience. In the first three quarters it recorded
operating revenue of RMB 76.73 billion and net profit of RMB 5.71 billion with net profit
attributable to shareholders of TCL TECH. reaching RMB 5.04 billion. In the third quarter it
recorded operating revenue of RMB 26.46 billion up 5% QoQ and net profit of RMB 1.81
billion with net profit attributable to shareholders of TCL TECH. reaching RMB 1.75 billion. In
August 2026 the Company completed the acquisition of a 45% equity interest in Guangzhou
CSOT Bandaoti. Following the transaction TCL TECH. directly and indirectly controlled 100%
of its equity. From September 2026 a higher proportion of Guangzhou CSOT Bandaoti’s net
profit was attributable to shareholders of TCL TECH.The large-sized display business optimized its product mix to meet demand for larger and
higher-end displays reinforcing its earnings base. The Company leveraged the scale and
efficiency advantages of its high-generation production lines adjusted production schedules to
customer orders and strengthened coordination among production lines and cost controls to
improve operational efficiency. Building on its HVA technology the Company developed three
product series: HVA Green for high energy efficiency HVA Pro for high image quality and
HVA Ultra for innovative high-end applications. These products catered to different customer
needs enhanced product competitiveness and strengthened the Company’s ability to withstand
price and cost fluctuations.The medium-sized display business continued to expand in the IT and automotive markets
optimizing its business mix. In the IT segment the Company rose to second place globally in
notebook panel market share in the second quarter. Notebook panel sales volume increased by
41% YoY in the first three quarters and by 7% QoQ in the third quarter while partnerships with
brand customers continued to strengthen. The Company ranked second globally in monitor panel
market share. Within this segment its gaming monitor panels have consistently ranked first
globally in both shipment volume and market share since 2022. On average one out of every
three gaming monitors features a TCL CSOT panel. Leveraging HVA HFS printed OLED and
other technologies the Company broadened its product portfolio for consumer and professional
gaming applications to meet different customer requirements for image quality refresh rates and
response times. The automotive display business maintained strong growth with sales volume
increasing by 45% YoY in the first three quarters and by 20% QoQ in the third quarter. By
shipment area the Company maintained its third-place global ranking in the overall automotive
panel market and ranked first globally in LTPS automotive panel market share. Its business scale
and customer coverage continued to expand.The small-sized display business increased its LCD market share and drove operational
improvements for its flexible OLED business. The Company’s global market share ranking in
LCD smartphone panels rose from third in the first half of the year to second in the third quarter.Sales volume of flexible OLED smartphone panels recovered quarter by quarter from the second
quarter. To improve operating performance the Company increased product volumes to meet
demand from key customers and a broader range of applications while raising yields reducing
material costs and improving its product mix. The Company led the development of an
electronics industry standard for testing creases in flexible display devices using the image
reflection method. The standard took effect on September 1 providing a quantitative basis for the
development and quality evaluation of foldable display products.The Company continued to commercialize printed OLED and MLED technologies and build
related production capacity. At the Wuhan t12 production line several printed OLED products
were being mass-produced and shipped on a stable basis. Its 27-inch printed OLED UHD 120Hz
desktop display solution won the “OLED Display Solution Gold Award” at IFA 2026. The main
production building of the Guangzhou t8 project entered the Super Clean phase on September 17
with cleanroom acceptance and major equipment move-in progressing as planned. For MLED
Phase II of the Suzhou COB direct display project entered mass production in August and
continued to ramp up capacity. Construction of the Shenzhen MLED project progressed as
planned. Once completed the project will strengthen coordination across the LED chip
packaging and direct display segments of the industry chain. For Micro LED the Company
successfully lit up relevant products using its proprietary T-Pixel technology and continued to
advance technology development and product validation.Looking ahead TCL CSOT will remain focused on value-oriented operation. It will
consolidate the large-sized display business’s profitability leadership through demand-based
production and cost management increase the contribution from the medium-sized display
business through product upgrades and customer expansion and improve the small-sized display
business’s operating performance through yield improvements material cost reductions and
product mix optimization. It will also continue to advance customer validation improve mass-
production yields and optimize costs to accelerate the commercialization of printed OLED and
MLED. In emerging fields such as glass-based advanced packaging optical communications and
perovskites the Company will proceed in phases under its established plans. Technology
validation and customer demand will guide these efforts with investment returns also taken into
account as the Company develops long-term growth drivers.
2. Moka Technology
Moka Technology’s core business is the ODM production of intelligent display terminal
products including TVs monitors and commercial displays. It is a high-tech manufacturer with a
global manufacturing footprint and the world’s largest TV ODM manufacturer. During the
Reporting Period Moka Technology achieved operating revenue of RMB 6.01 billion. Its TV
ODM business maintained the world’s highest shipment volume while its monitor ODM business
ranked fifth globally by shipment volume. Commercial display shipments increased by 37% YoY
creating further opportunities for business growth. To support its business development Moka
Technology further strengthened its global manufacturing footprint continued to increase R&D
investment optimized its customer mix and advanced product upgrades to enhance its overall
competitiveness.(II) New Energy Photovoltaics Business
In the first three quarters of 2026 new domestic photovoltaic installations fell sharply
following policy changes. Overseas demand maintained steady growth overall although regional
divergence intensified. The exit of excess capacity had yet to gain momentum and the
photovoltaic industry continued to face a supply-demand imbalance.The Company’s new energy photovoltaics business continued to pursue its strategy of
measured integration and global expansion consolidating its strengths in photovoltaic materials
strengthening its capabilities in cells and modules enhancing synergies across the industry chain
and optimizing its product and customer mix to improve operational efficiency and market
competitiveness. From the beginning of the year to the end of the Reporting Period the
Company’s new energy photovoltaics business achieved sales revenue of RMB 18.61 billion. The
module business accounted for 50.1% of this revenue an increase of 3.2 percentage points from
the first half of the year.The photovoltaic materials business maintained demand-based production continued to
reduce costs and improve efficiency and optimized its product and customer mix. During the
Reporting Period the Company’s wafer business reduced cash costs by 17.3% YoY through AI
applications supply chain optimization and tighter controls over energy consumption and
workforce productivity. Leveraging its advantages in raw materials processes and manufacturing
the Company increased the proportion of X- and P-series products to meet the cell and module
segments’ requirements for higher efficiency and differentiated technologies. From January to
September 2026 the Company shipped 83.4 GW of photovoltaic wafers ranking first in the
industry by market share. Overseas shipments accounted for 13.8% of total shipments and
increased by 355% YoY.The cell and module business continued to optimize its product and customer mix and
strengthen its global operations improving both overall competitiveness and market share.Building on its brand portfolio including TCL Solar and SunPower the module business refined
its product mix with multi-cut cell modules BC modules and other products to strengthen its
pricing power. It leveraged synergies across R&D supply chains manufacturing and marketing
to expand its reach among key domestic strategic customers and improve its ability to fulfill
orders. It also pursued growth opportunities in key regional markets including the Middle East
and Africa Southeast Asia Europe Australia and New Zealand optimizing its overseas
customer and market presence to enhance its global operating capabilities. From January to
September 2026 the Company’s cell and module business achieved sales volume of 14.5 GW an
increase of 43% YoY. Overseas shipments accounted for 20.6% of total shipments and increased
by 202% YoY.The acquisition of a controlling interest in DAS Solar was completed in early July. The
Company immediately launched projects to upgrade 20 GW of cell capacity and 25 GW of
module capacity to BC technology. These projects are expected to be completed in stages by the
first quarter of 2027. Upon completion the Company will have 20 GW of BC cell capacity and 50
GW of module capacity comprising 25 GW of BC capacity and 25 GW of TOPCon capacity.This will create a more balanced capacity structure and further strengthen synergies across the
industry chain.(III) Other Silicon Materials Business
In the first three quarters of 2026 continued growth in AI and computing demand drove
demand for logic and memory chips while recovering demand from new energy vehicles
photovoltaic power and energy storage and industrial control applications boosted demand for
power and analog chips. Together these trends supported a structural recovery in the industry.Demand strengthened across several downstream markets. The 12-inch wafer market benefited
from growth in AI computing high-performance computing (HPC) advanced memory and logic
chips. Demand for 8-inch wafers gradually recovered supported by automotive-grade power
devices industrial applications and power management chips with AI server power supplies
generating additional demand. The 6-inch wafer market saw structural improvements with
demand primarily coming from MEMS sensors low- and medium-power discrete devices and
small-signal analog chips. Demand remained strong for high-value-added specialty wafers
including advanced lightly doped polished wafers heavily doped substrates and epitaxial wafers
for power devices. Supply remained structurally tight for high-end specifications and prices
entered a recovery and upward cycle.Zhonghuan Advanced serves as the operating entity of the Company’s silicon materials
business. Guided by its “Lead at Home Compete Globally” strategy Zhonghuan Advanced has
become one of the few silicon wafer manufacturers worldwide offering a full range of wafer sizes
across multiple technology platforms. It is committed to providing comprehensive product
solutions to customers worldwide. Capitalizing on growth opportunities in the industry the
Company accelerated capacity upgrades and advanced product development. Its comprehensive
product portfolio supported growth in business scale alongside improvements in operating
performance.The Company’s silicon materials business maintained its industry-leading position in
revenue and profitability. With products spanning a full range of wafer sizes and categories
Zhonghuan Advanced was well positioned to supply products tailored to customers’ needs meet
their diverse long-term product requirements and continue to improve its financial performance.From January to September 2026 Zhonghuan Advanced achieved operating revenue of RMB 4.9
billion up 15% YoY and broke even overall. Third-quarter operating revenue reached RMB 1.86
billion up 23% YoY with net profit of RMB 80 million marking a quarter of profitable
operations.Zhonghuan Advanced maintained its leading domestic position in shipment volume while
continuing to improve its product and customer mix. In the first three quarters Zhonghuan
Advanced shipped 1101 MSI up 21% YoY. Shipments of 12-inch products increased by 24%
YoY while shipments of 8-inch and smaller products increased by 18% YoY. Shipments of the
Company’s wafers for memory and logic applications continued to grow rapidly placing it
among the leading domestic suppliers by market share. Specialty products for power devices and
CMOS image sensors (CIS) as well as float-zone wafers served high-value-added market
segments and maintained a commanding market share lead. The Company continued to expand its
overseas business generating overseas revenue of RMB 1.14 billion in the first three quarters up
19% YoY. Its global customer base and international supply capabilities continued to grow.
Zhonghuan Advanced will strengthen its competitive advantages through capacity expansion
technological breakthroughs quality improvements cost reductions and efficiency gains. These
efforts will reinforce its domestic leadership and support its ambition to become one of the
world’s leading silicon wafer manufacturers. The Company will continue to increase investment
in advanced technologies and processes accelerating the R&D and validation of wafers for high-
end logic high-bandwidth memory (HBM) advanced packaging and high-end specialty
processes to further strengthen its technological barriers to entry. To support market and customer
development the Company will secure orders during capacity ramp-up through long-term supply
agreements (LTAs) deepen strategic partnerships with core customers and increase its share of
supply to these customers. It will also steadily advance customer qualification and adoption of
advanced and high-end products.By the end of 2026 combined 12-inch wafer capacity at the Yixing and Xuzhou sites is
expected to increase to 1 million wafers per month. The Company will also accelerate
construction of its 12-inch wafer factory in Shenzhen continue upgrading 8-inch capacity at its
Yixing and Tianjin sites and ramp up supporting crystal production in Inner Mongolia to meet
global customer demand. Once all five sites reach full production the Company’s monthly
capacity for 12-inch and 8-inch wafers will reach 2.1 million and 1.4 million wafers respectively.(IV) Non-core business
During the Reporting Period TPC performed well while the Company’s financial services
investment and other businesses developed steadily.Facing a severe and complex external environment the Company will embrace the spirit of
"Forging Ahead to Conquer New Challenges". By adhering to the operational philosophy of
"Strategic Leadership Innovation-Driven Advanced Manufacturing and Global Operations" the
Company will seize the historic opportunities presented by the advancement of the leading edge
manufacturing industry and transformation of the global energy structure to achieve sustainable
high-quality development and move toward global leadership.Section IV Shareholder Information
(I) Table of the total number of ordinary shareholders and the number of preferred shareholders with
resumed voting rights as well as the shareholdings of the top 10 shareholders
Unit: share
Total number of ordinary shareholders Total number of preferred shareholders with resumed
653343 0
by the end of the Reporting Period voting rights by the end of the Reporting Period
Shareholdings of top 10 shareholders of ordinary shares (excluding the lending of shares under refinancing)
Number of Shares in pledge marked or frozen
Shareholdi
Name of Nature of Number of restricted
ng
shareholder shareholder shares held ordinary shares
percentage Status Quantity
held
Hong Kong
Securities
Clearing Foreign legal entity 7.54% 1655218792 0 Not applicable 0
Company Ltd.Li Dongsheng Not applicable 0
Ningbo Jiutian
Liancheng Domestic
Equity individual/
Investment Domestic general 5.78% 1268160591 675949391 In pledge 144100000
Partnership legal entity
(Limited
Partnership)
Shenzhen Major
Industrial
Development Public legal entity 4.45% 976000006 0 Not applicable 0
Phase I Fund
Co. Ltd.Guangdong
Hengjian
Investment Public legal entity 2.90% 636418725 636418725 Not applicable 0
Holding Co.Ltd.Huizhou
Investment
Holding Co. Public legal entity 2.44% 535767694 0 Not applicable 0
Ltd.Science City
(Guangzhou)
Investment Public legal entity 1.45% 318209362 318209362 Not applicable 0
Group Co. Ltd.Wuhan Optics
Valley
Industrial Public legal entity 1.04% 228834416 0 In pledge 85000000
Investment Co.Ltd.Guangzhou
Chengfa
Xingguang
Investment Domestic general
Partnership legal entity
0.87% 190925617 190925617 Not applicable 0
(Limited
Partnership)
TCL
Technology
Group
Corporation - Others 0.80% 174747985 0 Not applicable 0
2025 Employee
Stock
Ownership Plan
Shareholdings of top 10 non-restricted ordinary shareholders (excluding the lending of shares under refinancing and restricted
shares held by senior management)
Type and quantity of shares
Name of shareholder Number of non-restricted shares held
Type of shares Quantity
Hong Kong Securities Clearing RMB-
Company Ltd. 1655218792 denominated 1655218792ordinary shares
Shenzhen Major Industrial RMB-
Development Phase I Fund Co. Ltd. 976000006 denominated 976000006ordinary shares
Li Dongsheng RMB-
Ningbo Jiutian Liancheng Equity 592211200 denominated 592211200
Investment Partnership (Limited ordinary shares
Partnership)
RMB-
Huizhou Investment Holding Co. Ltd. 535767694 denominated 535767694
ordinary shares
Wuhan Optics Valley Industrial RMB-
Investment Co. Ltd. 228834416 denominated 228834416ordinary shares
TCL Technology Group Corporation - RMB-
2025 Employee Stock Ownership Plan 174747985 denominated 174747985ordinary shares
Abu Dhabi Investment Authority – RMB-
Own funds 126531915 denominated 126531915ordinary shares
Perseverance Asset Management RMB-
Partnership (Limited Partnership) - 126000000 denominated 126000000
Gaoyi Xiaofeng No. 2 Zhixin Fund ordinary shares
New China Life Insurance Company RMB-
Ltd. - Traditional - Ordinary Insurance 125932146 denominated 125932146
Product - 018L-CT001 Shen ordinary shares
Mr. Li Dongsheng and his acting-in-concert parties are the Company’s
largest shareholder in terms of beneficial ownership. Hong Kong
Securities Clearing Company Ltd. is the nominee holder of the
Company’s shares held through the Shenzhen–Hong Kong Stock
Note on the above shareholders’ associations or Connect.Among the top 10 shareholders Mr. Li Dongsheng and Ningbo Jiutian
concerted actions Liancheng Equity Investment Partnership (Limited Partnership) became
persons acting in concert by signing the Agreement on Concerted Action.Mr. Li Dongsheng holds 901265855 shares and Ningbo Jiutian
Liancheng Equity Investment Partnership (Limited Partnership) holds
366894736 shares representing 1268160591 shares in total.
Explanation of the top 10 ordinary shareholders At the end of the Reporting Period Wuhan Optics Valley IndustrialInvestment Co. Ltd. among the shareholders above held certain shares
participating in securities margin trading (if any) of the Company through a credit security account.Note: At the end of the Reporting Period the dedicated securities account for share repurchases of TCL Technology Group
Corporation held 239384027 shares in the Company.Participation of shareholders holding more than 5% the top 10 shareholders and the top 10 non-restricted shareholders in the
lending of shares under the refinancing business
□Applicable ?Not applicable
Change in the top 10 shareholders and the top 10 non-restricted shareholders due to securities lending/returning under refinancing
as compared to the previous period
□Applicable ?Not applicable
(II) Total number of preferred shareholders and shareholdings of the top 10 preferred shareholders
□Applicable ?Not applicable
Section V Other Significant Events
?Applicable□Not applicable
1. Other significant events during the Reporting Period
(1) Completion of the acquisition of a 45% equity interest in Guangzhou China Star Optoelectronics Bandaoti Display
Technology Co. Ltd. through share issuance and cash payment during the Reporting Period
On March 30 2026 the Board reviewed and approved proposals including the Proposal on the Report (Draft) on Asset
Purchase via Share Issuance and Cash Payment and Raising of Supporting Funds of TCL Technology Group Corporation and Its
Summary. The Company proposes to acquire through share issuance and cash payment the 45% equity interest in Guangzhou
China Star Optoelectronics Bandaoti Display Technology Co. Ltd. (“Guangzhou CSOT Bandaoti”) held by Guangdong Hengjian
Investment Holding Co. Ltd. Guangzhou Chengfa Xingguang Investment Partnership (Limited Partnership) and Science City
(Guangzhou) Investment Group Co. Ltd. and to raise supporting funds concurrently. The total transaction consideration was
RMB 9324807200 comprising RMB 4662403600 in shares and RMB 4662403600 in cash. Following the completion of the
Transaction the Company directly and indirectly controls 100% of the equity interests in Guangzhou CSOT Bandaoti.On April 24 2026 the Company convened the 2025 Annual General Meeting at which the aforementioned matters were
reviewed and approved.On June 1 2026 the Board reviewed and approved the Proposal on Canceling the Raising of Supporting Funds for the Asset
Purchase via Share Issuance. Taking into account the interests of all shareholders and the sustained positive momentum in the
Company’s operations and development the Company decided to cancel the arrangement for raising supporting funds for the asset
purchase via share issuance. The cash consideration will instead be paid from the Company’s own or self-raised funds.On July 24 2026 the Merger and Acquisition Review Committee of the Shenzhen Stock Exchange approved the Company’s
acquisition of the 45% equity interest in Guangzhou CSOT Bandaoti through share issuance and cash payment.On August 19 2026 the Company received the Reply on Approving the Registration of TCL Technology Group
Corporation’s Asset Purchase via Share Issuance (CSRC Permit [2026] No. 2116) issued by the China Securities Regulatory
Commission.On August 21 2026 the industrial and commercial registration for the transfer of the 45% equity interest in Guangzhou
CSOT Bandaoti was completed. The 1145553704 new shares issued for the transaction were listed on the Shenzhen Stock
Exchange on August 31 2026 subject to a 12-month lock-up period. The Company’s total share capital increased from
20800862447 shares to 21946416151 shares.
Section VI Quarterly Financial Statements
(I) Financial statements
1. Consolidated Balance Sheet
Prepared by: TCL Technology Group Corporation
September 30 2026
Unit: RMB
Item Ending balance Beginning balance
Current assets:
Cash and cash equivalents 15338339927 30460060493
Settlement reserves 0 0
Funds on loan 0 0
Held-for-trading financial assets 20110651486 14473193131
Derivative financial assets 24556410 78957405
Notes receivable 795332316 480225462
Accounts receivable 23964232658 22153002606
Receivables financing 962044147 625788752
Prepayments 2641282946 1909443641
Other receivables 2922667380 3500621513
Including: Interests receivable 0 0
Dividends receivable 254367650 424441285
Financial assets purchased under sale-back agreement 0 0
Inventories 25328162578 18370708289
Including: Data resources 0 0
Contract assets 377561200 385576416
Held-for-sale assets 0 363065629
Non-current assets due within one year 2191321250 1564945242
Other current assets 7732292048 8411623798
Total current assets 102388444346 102777212377
Non-current assets:
Loans and advances to customers 0 0
Debt investments 569327729 578158579
Other debt investments 0 0
Long-term receivables 102793662 120628033
Long-term equity investments 25380354503 23349193104
Investments in other equity instruments 162450592 356455767
Other non-current financial assets 4711730596 3172659077
Investment properties 387075259 401873017
Fixed assets 156298563216 165003155646
Construction in progress 21030010165 16176848470
Productive biological assets 0 0
Oil and gas assets 0 0
Right-of-use assets 5494513700 6189174496
Intangible assets 17695279364 18467310369
Including: Data resources 0 0
Development expenditures 1028366605 1204955478
Including: Data resources 0 0
Goodwill 13728430215 11409749045
Long-term deferred expenses 2721525508 2282883407
Deferred tax assets 3951985419 2936332280
Other non-current assets 13899796111 18311725167
Total non-current assets 267162202644 269961101935
Total assets 369550646990 372738314312
Current liabilities:
Short-term borrowings 8236277738 7552523460
Borrowings from the Central Bank 17149731 29756431
Borrowing funds 0 0
Held-for-trading financial liabilities 66573870 235716703
Derivative financial liabilities 22694412 50434753
Notes payable 9912403757 6465600185
Accounts payable 37758696746 32251944054
Advances from customers 8097339 6823420
Contract liabilities 3047398515 2009842277
Financial assets sold under repurchase agreements 0 0
Customer deposits and deposits from other banks and
283909273 364713587
financial institutions
Funds for brokering securities transactions 0 0
Funds for brokering securities underwriting 0 0
Employee compensation payable 4385120831 4966488419
Taxes and levies payable 1491928879 1238333745
Other payables 18779268273 17715637558
Including: Interests payable 0 0
Dividends payable 30216239 48248756
Held-for-sale liabilities 0 71510148
Non-current liabilities due within one year 27237200136 30909783775
Other current liabilities 7559088448 1662143866
Total current liabilities 118805807948 105531252381
Non-current liabilities:
Long-term borrowings 102759351778 116139349491
Bonds payable 11978389330 7981874250
Including: Preferred shares 0 0
Perpetual bonds 0 0
Lease liabilities 5165049335 4148597798
Long-term payables 2818925390 1388758641
Long-term employee compensation payable 21139280 21605303
Provision 683914126 231480076
Deferred income 2596107964 2151175867
Deferred tax liabilities 1452064964 1775607133
Other non-current liabilities 9119235 25635061
Total non-current liabilities 127484061402 133864083620
Total liabilities 246289869350 239395336001
Owner's equity:
Share capital 21946416151 20800862447
Other equity instruments 997630000 0
Including: Preferred shares 0 0
Perpetual bonds 997630000 0
Capital reserves 16927419343 14155724550
Less: Treasury share 2265161717 1503652075
Other comprehensive income -936275345 -1042359133
Specific reserves 7117618 5597597
Surplus reserves 4096815620 4096815620
General risk reserve 8933515 8933515
Retained earnings 28148651505 24910834003
Total equity attributable to the owners of the parent
68931546690 61432756524
company
Non-controlling interests 54329230950 71910221787
Total owners' equity 123260777640 133342978311
Total liabilities and owners' equity 369550646990 372738314312
Legal representative: Person-in-charge of financial affairs: Person-in-charge of the financial
Li Dongsheng Li Jian department: Jing Chunmei
2. Consolidated Income Statement for the period from the beginning of the year to the end of the
Reporting Period
Unit: RMB
Amount incurred in the Amount incurred in the
Item
current period previous period
I. Total revenue 138756474276 136064747889
Including: Operating revenue 138700079937 135943426753
Interest income 56394339 121321136
Service charge and commission income 0 0
II. Total costs 137898351823 135565833830
Including: Operating cost 121717926749 118592498986
Interest expenditures 1904289 12226443
Service charge and commission expenditures 0 0
Taxes and levies 834721354 878642741
Sales expenses 1847150337 1808184948
Administrative expenses 3299473186 3440592336
R&D expenses 6940026714 7393745724
Financial expenses 3257149194 3439942652
Including: Interest expenses 3113076259 3720323168
Interest income 503958081 524551294
Add: Other income 1039130027 1767528756
Return on investment (losses are indicated by "-") 2098585059 1662556667
Including: Return on investment in joint
1239636558 1150193541
ventures and associates
Income from derecognition of
0 0
financial assets measured at amortized costs
Exchange gains (losses are indicated by "-") 1282600 504115
Gain on net exposure hedging (losses are indicated
0 0
by "-")
Gain on changes in fair value (losses are indicated
1270731744 595629955
by "-")
Credit impairment loss (losses are indicated by "-
-22156437 -14031935
")
Asset impairment loss (losses are indicated by "-") -2739881521 -3372610477
Asset disposal income (losses are indicated by "-") 160450271 3069942
III. Operating profit (losses are indicated by "-") 2666264196 1141561082
Add: Non-operating income 32719398 46160074
Less: Non-operating expenses 555128400 176001781
IV. Gross profit (gross loss is indicated by "-") 2143855194 1011719375
Less: Income tax expenses -485358133 529171588
V. Net profits (net losses are indicated by "-") 2629213327 482547787
(I) Classified by continuity of operations
1. Net profits from continuing operations (net losses
2629213327 482547787
are indicated by "-")
2. Net profits from discontinued operations (net
0 0
losses are indicated by "-")
(II) Classification by ownership
1. Net profits attributable to shareholders of the
5120437375 3046792403
parent company (net losses are indicated by "-")
2. Net profit attributable to non-controlling interests
-2491224048 -2564244616
(net losses are indicated by "-")
VI. Other comprehensive income net of tax 116979693 -93393016
Other comprehensive income attributable to the owners
106083788 -76863371
of the parent company net of tax
(I) Other comprehensive income that cannot be
-40347028 -5440283
subsequently reclassified into profits or losses
1. Changes arising from remeasurement of defined
-109496 0
benefit plans
2. Other comprehensive income that cannot be
subsequently reclassified into profits and losses under the -32273700 -10209048
equity method
3. Changes in fair value of investments in other
-7963832 4768765
equity instruments
4. Changes in fair value of the enterprise's own
0 0
credit risks
5. Others 0 0
(II) Other comprehensive income that may
146430816 -71423088
subsequently be reclassified into profits or losses
1. Other comprehensive income that can be
138318194 -37715578
transferred to profits and losses under the equity method
2. Changes in fair value of other debt investments 0 0
3. Amounts of financial assets reclassified into
0 0
other comprehensive income
4. Provisions for credit impairment of other debt
0 0
investments
5. Reserves for cash flow hedging -389378 0
6. Conversion differences in foreign currency
8502000 -33707510
financial statements
7. Others 0 0
Other comprehensive income attributable to non-
10895905 -16529645
controlling interests net of tax
VII. Total comprehensive income 2746193020 389154771
(I) Total comprehensive income attributable to the
5226521163 2969929032
shareholders of the parent company
(II) Total comprehensive income attributable to non-
-2480328143 -2580774261
controlling interests
VIII. Earnings per share:
(I) Basic earnings per share 0.2466 0.1604
(II) Diluted earnings per share 0.2333 0.1584
Legal representative: Person-in-charge of financial affairs: Person-in-charge of the financial department:
Li Dongsheng Li Jian Jing Chunmei
3. Consolidated Cash Flow Statement for the period from the beginning of the year to the end of the
Reporting Period
Unit: RMB
Amount incurred in the Amount incurred in the
Item
current period previous period
I. Cash flow generated from operating activities:
Proceeds from the sale of commodities and rendering of
149866288701 147937512610
services
Net increase of deposits from customers banks and
-80784472 8905145
other financial institutions
Net increase of borrowings from the Central Bank -12665179 -507189316
Cash received from interest handling charge and
58433794 86593708
commission
Tax and levy rebates 6359299340 4238907127
Cash generated from other operating activities 8012126138 9766246224
Sub-total of cash inflows from operating activities 164202698322 161530975498
Cash paid for commodities and services 112070649842 102597397617
Net increase of loans and advances to customers 0 -185677339
Net increase of deposits with the Central Bank banks
-22236368 -8624759
and other financial institutions
Cash paid for interest service charges and commissions 2509515 0
Cash paid to and for employees 11287943855 10742521309
Taxes and levies paid 2627715471 3919628352
Cash used in other operating activities 13446128851 10629128174
Sub-total of cash used in operating activities 139412711166 127694373354
Net cash generated from operating activities 24789987156 33836602144
II. Cash flow generated from investing activities:
Proceeds from disinvestments 120933422600 80824235602
Proceeds from return on investments 2639515085 1945325131
Net proceeds from disposal of fixed assets intangible
479330095 145356890
assets and other long-term assets
Net proceeds from disposal of subsidiaries and other
17499176 0
business units
Cash generated from other investing activities 345007371 137527359
Sub-total of cash inflows from investing activities 124414774327 83052444982
Payments for the acquisition and construction of fixed
16891335761 11511651748
assets intangible assets and other long-term assets
Payments for investments 123242508088 89279902850
Net payments for acquiring subsidiaries and other
2146320806 6197175767
business units
Cash used in other investing activities 992737734 561637645
Sub-total of cash used in investing activities 143272902389 107550368010
Net cash generated from investing activities -18858128062 -24497923028
III. Cash flow generated from financing activities:
Capital contributions received 3712668690 4435377733
Including: Capital contributions by non-controlling
2715038690 137551931
interests to subsidiaries
Borrowings raised 52977402482 66876357539
Cash generated from other financing activities 2546935584 566327309
Sub-total of cash inflows from financing activities 59237006756 71878062581
Cash paid for debt repayment 60394908339 68842349158
Cash paid for distribution of dividends and profits or
5278017141 4627566871
repayment of interests
Including: Dividends and profits paid by subsidiaries
294261054 33550665
to minority shareholders
Cash used in other financing activities 11968614045 10406415238
Sub-total of cash used in financing activities 77641539525 83876331267
Net cash generated from financing activities -18404532769 -11998268686
IV. Effect of exchange rate changes on cash and cash
-89104103 190479096
equivalents
V. Net increase in cash and cash equivalents -12561777778 -2469110474
Add: Cash and cash equivalents at the beginning of the
26565803114 20861254876
period
VI. Cash and cash equivalents at the end of the period 14004025336 18392144402
Legal representative: Person-in-charge of financial affairs: Person-in-charge of the financial department:
Li Dongsheng Li Jian Jing Chunmei
(II) Adjustments to financial statement items at the beginning of the year of the first
implementation of the new accounting standards which have been implemented since
2026
□Applicable ?Not applicable
(III) Auditor's Report
Whether the Third Quarter Financial Report has been audited or not
□Yes ?No
The Company's Third Quarter Financial Report has not yet been audited.TCL Technology Group Corporation
Board of Directors
October 30 2026
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