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1、TCL Technology Group Corporation Interim Report 2021 1 TCL 科技集团股份有限公司科技集团股份有限公司 TCL Technology Group Corporation INTERIM REPORT 2021 10 August 2021 TCL Technology Group Corporation Interim Report 2021 2 Table of Contents Part I Important Notes, Table of Contents and Definitions . 3 Part II Corporate
2、 Information and Key Financial Information . 7 Part III Management Discussion and Analysis . 10 Part IV Corporate Governance. 40 Part V Environmental and Social Responsibility . 43 Part VI Significant Events . 49 Part VII Share Changes and Shareholder Information . 63 Part VIII Bonds . 69 Part IX Fi
3、nancial Statements . 75 TCL Technology Group Corporation Interim Report 2021 3 Part I Important Notes, Table of Contents and Definitions The Board of Directors (or the “Board”), the Supervisory Committee as well as the directors, supervisors and senior management of TCL Technology Group Corporation
4、(hereinafter referred to as the “Company”) hereby guarantee the factuality, accuracy and completeness of the contents of this Report and its summary, and shall be jointly and severally liable for any misrepresentations, misleading statements or material omissions therein. Mr. Li Dongsheng, the Chair
5、man of the Board, Ms. Du Juan, the person-in-charge of financial affairs (Chief Financial Officer), and Mr. Xi Wenbo, the person-in-charge of the financial department, hereby guarantee that the financial statements carried in this Report are factual, accurate and complete. All the Companys directors
6、 have attended the Board meeting for the review of this Report and its summary. Any plans, development strategies or other forward-looking statements mentioned in this Report and its summary shall NOT be considered as promises to investors. Therefore, investors are reminded to exercise caution when
7、making investment decisions. The Company has no interim dividend plan, either in the form of cash or stock. 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. TCL Technology Gr
8、oup Corporation Interim Report 2021 4 Definitions Term Definition The “Company”, the “Group”, “TCL”, “TCL Tech.” or “we” TCL Technology Group Corporation and its consolidated subsidiaries, except where the context otherwise requires. The “Current Period” The period from 1 January 2021 to 30 June 202
9、1. TCL Industries TCL Industries Holdings Co., Ltd. TCL CSOT TCL China Star Optoelectronics Technology Co., Ltd. Zhonghuan Electronics Tianjin Zhonghuan Electronics Group Co., Ltd. Zhonghuan Semiconductor Tianjin Zhonghuan Semiconductor Co., Ltd., a majority-owned subsidiary of the Company listed on
10、 the SME Board of the Shenzhen Stock Exchange (stock code: 002129.SZ) TPC Tianjin Printronics Circuit Corporation, a majority-owned subsidiary of the Company listed on the SME Board of the Shenzhen Stock Exchange (stock code: 002134.SZ) Wuhan CSOT Wuhan China Star Optoelectronics Technology Co., Ltd
11、. Guangdong Juhua Guangdong Juhua Printed Display Technology Co., Ltd. China Ray Guangzhou China Ray Optoelectronic Materials Co., Ltd. Highly Highly Information Industry Co., Ltd., a majority-owned subsidiary of the Company listed on the National Equities Exchange and Quotations (stock code: 835281
12、) Moka International Moka International Limited TCL Microchip TCL Microchip Technology (Guangdong) Co., Ltd. Admiralty Harbour Capital Admiralty Harbour Capital Limited China Innovative China Innovative Capital Management Limited Zhonghuan Advanced Zhonghuan Advanced Semiconductor Materials Co., Ltd
13、. t1 project The generation 8.5 (or G8.5) TFT-LCD production line of TCL CSOT t2 project The generation 8.5 (or G8.5) TFT-LCD (including oxide semiconductor) production line of TCL CSOT t3 project The generation 6 (or G6) LTPS-LCD panel production line of TCL CSOT t4 project The generation 6 (or G6)
14、 flexible LTPS-AMOLED panel production line of TCL CSOT t6 project The generation 11 (or G11) new TFT-LCD production line of TCL CSOT t7 project The generation 11 (or G11) new ultra-high-definition (UHD) TFT-LCD and AMOLED production line of TCL CSOT t9 project The generation 8.6 (or G8.6) new oxide
15、 semiconductor production line of Guangzhou CSOT t10 project or the Samsung Suzhou plant The generation 8.5 (or G8.5) TFT-LCD production line of Suzhou China Star Optoelectronics Technology Co., Ltd. M10 project or the Samsung Suzhou module plant Suzhou China Star Optoelectronics Display Co., Ltd. G
16、W Gigawatt, power unit for solar cells, 1GW1,000 megawatt TCL Technology Group Corporation Interim Report 2021 5 G12 12-inch ultra-large DW-cut solar monocrystalline silicon square wafer, size: 44,096mm , diagonal line: 295mm, side length: 210mm, with its size 80.5% larger than the conventional M2 M
17、AXEON MAXEON SOLAR TECHNOLOGIES,PTE.LTD. TCL Technology Group Corporation Interim Report 2021 6 Documents Available for Reference (I) The financial statements signed and stamped by the Companys legal representative, Chief Financial Officer and person-in-charge of the financial department. (II) The o
18、riginals of all the Companys announcements and documents that were disclosed to the public during the Reporting Period. TCL Technology Group Corporation Interim Report 2021 7 Part II Corporate Information and Key Financial Information I Corporate Information Stock name TCL Tech. Stock code 000100 Pl
19、ace of listing Shenzhen Stock Exchange Company name in Chinese TCL科技集团股份有限公司 Abbr. (if any) TCL科技 Company name in English (if any) TCL Technology Group Corporation Abbr. (if any) TCL TECH. Legal representative Li Dongsheng II Contact Information Board Secretary Name Liao Qian Office address 10/F, To
20、wer G1, International E Town, TCL Science Park, 1001 Nanshan District, Shenzhen, Guangdong Province, China Tel. 0755-3331 1666 Email address III Other Information 1. Contact Information of the Company No change occurred to the registered address, office address and their zip codes, website address a
21、nd email address of the Company in the Reporting Period. The said information can be found in the 2020 Annual Report. 2. Media for Information Disclosure and Place where this Report is Lodged No change occurred to the newspapers designated by the Company for information disclosure, the website desig
22、nated by the CSRC for disclosing the Companys periodic reports and the place for lodging such reports in the Reporting Period. The said information can be found in the 2020 Annual Report. 3. Other information No change occurred to the other information in the Reporting Period. TCL Technology Group C
23、orporation Interim Report 2021 8 IV Key Financial Information Indicate whether there is any retrospectively restated datum in the table below. Yes No Item H1 2021 H1 2020 Change (%) Revenue (RMB) 74,298,646,758 29,333,210,856 153.29% Net profit attributable to the companys shareholders (RMB) 6,783,8
24、84,807 1,208,065,986 461.55% Net profit attributable to the companys shareholders before non-recurring gains and losses (RMB) 5,497,817,947 181,862,847 2923.06% Net cash generated from/used in operating activities (RMB) 13,895,714,157 7,347,810,779 89.11% Basic earnings per share (RMB/share) 0.5026
25、0.0932 439.27 % Diluted earnings per share (RMB/share) 0.4835 0.0893 441.43% Weighted average return on equity (%) 18.96% 4.11 % Up by 14.85 percentage points 30 June 2021 31 December 2020 Change (%) Total assets (RMB) 302,205,481,260 257,908,278,887 17.18% Owners equity attributable to the companys
26、 shareholders (RMB) 37,557,664,687 34,107,795,454 10.11% The total share capital at the end of the last trading session before the disclosure of this Report: Fully diluted earnings per share based on the latest total share capital above: Dividends paid for preference shares N/A Fully diluted earning
27、s per share based on the latest total share capital above (RMB/share) 0.4835 V Accounting Data Differences under Chinas Accounting Standards for Business Enterprises (CAS) and International Financial Reporting Standards (IFRS) and Foreign Accounting Standards 1. Net Profit and Equity under CAS and I
28、FRS Applicable Not applicable 2. Net Profit and Equity Differences under CAS and Foreign Accounting Standards Applicable Not applicable 3. Reasons for Accounting Data Differences Above Applicable Not applicable 14,030,788,362 Total share capital at the end of the last trading session before the disc
29、losure of this Report (share) TCL Technology Group Corporation Interim Report 2021 9 VI Non-Recurring Gains and Losses Applicable Not applicable Unit: RMB Item Amount Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs) 739,340,047 Government subsidies charge
30、d to current profit or loss (exclusive of government subsidies given in the Companys ordinary course of business at fixed quotas or amounts as per the governments uniform standards) 359,192,482 Gain equal to the amount by which investment costs for the Company to obtain subsidiaries, associates and
31、joint ventures are lower than the Companys enjoyable fair value of identifiable net assets of investees when making investments 40,299,579 Spin-off costs in staff arrangement, integration, etc. - Gain or loss on fair-value changes in held-for-trading and derivative financial assets and liabilities &
32、 investment income from disposal of held-for-trading and derivative financial assets and liabilities and other debt investments (exclusive of effective portion of hedges that arise in the Companys ordinary course of business) 210,273,097 Non-operating income and expense other than the above 244,569,
33、559 Other gains and losses that meet the definition of non-recurring gain/loss - Less: Corporate income tax 82,885,697 Non-controlling interests (net of tax) 224,722,207 Total 1,286,066,860 Explanation of why the Company reclassifies as recurrent a non-recurring gain/loss item defined or listed in t
34、he Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the PublicNon-Recurring Gain/Loss Items: Applicable Not applicable No such cases for the Reporting Period. TCL Technology Group Corporation Interim Report 2021 10 Part III Management Discussion and
35、 Analysis I Main businesses of the Company during the reporting period Part III Management Discussion and Analysis I Main businesses of the Company during the reporting period Overview The COVID-19 epidemic has yet to subside, geopolitical relations have entered a new landscape and international tra
36、de frictions pose multiple challenges to global economic development. However, the fact that international division of labor and comparative advantage determine the basis for the allocation of production factors, industrial chain and value chain distribution will remain unchanged. As a sound industr
37、ial layout and sound supply chain systems have already been established in China, the complex and volatile internal and external environment will further consolidate the strategic direction of independent and controllable key and core technologies for scientific and technological enterprises, which
38、will help accelerate the tackling of fundamental, high-end and core technologies fortification, and will promote the upgrading of the industrial chain and manufacturing industry, thus ushering in new development opportunities for Chinas technology sector. Dedicated to national strategic sectors that
39、 are high-tech, asset-heavy and long-cycle, the Company focused on the development of its core main businesses: semiconductor displays, and semiconductor photovoltaics and semiconductor materials. With the accelerated trend of country-by-country shifts and concentration of leadership in the semicond
40、uctor display industry driven by operation and management efficiency, generations of production lines and scale effect, the competitive advantages of Chinese enterprises have been brought to the fore, and the Companys semiconductor display businesses have initiated a phase of overall leadership that
41、 spans from efficiency and products to technologies and ecology. Meanwhile, the Company, empowered and supported by continuous reform and innovation, extreme management efficiency and global operational capacity, has made remarkable achievements in the layout of the new industrial track for semicond
42、uctor photovoltaics and semiconductor materials businesses, and has successfully created a secondary growth curve once again. During the reporting period, the Company achieved operating revenue of CNY 74.3 billion, a year-on-year increase of 153.3%; net profit of CNY 9.25 billion, a year-on-year inc
43、rease of 765%; net profit of TCL Technology Group Corporation Interim Report 2021 11 CNY 6.78 billion attributable to the shareholders of listed companies, a year-on-year increase of 461.5%; comprehensively surpassing the budget. Wherein: (1) Benefiting from the upward prosperity of the industry, co
44、upled with factors such as the fast-paced growth of its own capacity and the improvement of product structure, the Company achieved, from the semiconductor display business, operating revenue of CNY 40.8 billion, a year-on-year increase of 93.6% under the same conditions, and net profit of CNY 6.61
45、billion, a year-on-year increase of CNY 6.75 billion; (2) Leveraging advantages such as technological accumulation, leading capacity improvement and supply chain synergy, through the reform of mechanisms and systems and the stimulation of organizational vitality, the Company saw significant year-on-
46、year increases in both revenue and profit from its semiconductor photovoltaics and semiconductor businesses. Zhonghuan Semiconductor achieved operating revenue of CNY 17.64 billion, a year-on-year increase of 104.1%, and net profit of CNY 1.89 billion, a year-on-year increase of 160.6%. The Company
47、focused on investment in the research and development of core techniques, basic technologies and new materials, to enhance the technical strength of key links in value chains and strategic control points. During the reporting period, the Company invested CNY 5.09 billion in research and development,
48、 accounting for 7.0% of operating revenue, a year-on-year increase of 76.9%. To date, the number of PCT patent applications reached 13,170, and the number of patent applications in the field of quantum dot electroluminescence technology and materials has reached 1,480, ranking second in the world. I
49、n the field of semiconductor displays, the Company focused on promoting the development of new display technologies such as printed OLED/QLED, Mini-LED and Micro-LED, achieving ecological leadership among next-generation display technologies; in the field of semiconductor photovoltaics and semicondu
50、ctor materials, the Company has established advantages in 210 mm large silicon wafers and shingled photovoltaic modules, as well as the ecologies of related technologies, and is a leader in the technologies and production techniques of the 4-12-inch products in China. Production capacity was further