TCL Multimedia Technology Holdings Limited
TCL Multimedia Announces 2017 Interim Results
(For Immediate Release) TCL Multimedia Announces 2017 Interim Results * * * * * * – The significant increase in the consolidated profit of the Group for the period under review was mainly attributable to: (1) the relatively great extent of increase in sales volume and sales revenue of business; (2) the improvement of product structure; and (3) the control of selling and distribution expenses and administrative expenses leading to a reduction of expense ratio. – The Group sold 9.60 million sets of liquid-crystal-display (“LCD”) TVs, up by 12.2% year-on-year. Sales volume of LCD TVs in the PRC market decreased by 9.7% year-on-year to 3.87 million sets, while sales volume of LCD TVs in the overseas markets grew by 34.1% year-on-year to 5.74 million sets. – The Group achieved a turnover of HK$17.02 billion, increased by 19.7% year-on- year. Gross profit increased by 6.3% when compared to the corresponding period of last year to HK$2.63 billion. Gross profit margin dropped from 17.4% of the corresponding period of last year to 15.4%, which was mainly impacted by sales proportion of the overseas and the PRC market. Expense ratio decreased from 15.9% in the corresponding period of last year to 13.8%. Operating profit was HK$200 million and net profit after tax was HK$140 million. Profit attributable to owners of the parent rose by 59.5% when compared to the corresponding period of last year to HK$150 million. Basic earnings per share was HK9.12 cents. The board of directors declared an interim dividend of HK3.90 cents per share.
– With continued product mix enhancements, the proportion of high-end products (such as quantum dot, curved, 4K and large screen TVs, etc.) has been steadily increasing. Sales volume of smart TVs of the Group in the PRC market (excluding ODM business) amounted to 2.33 million sets, which accounted for 75.1% of the Group’s LCD TV sales volume in the PRC market (excluding ODM business). Sales volume of 4K TVs in the PRC market (excluding ODM business) amounted to 1.26 million sets, which accounted for 40.6% of the Group’s LCD TV sales volume in the PRC market (excluding ODM business). Market share of curved TVs in the PRC market (excluding ODM business) was 35.2%, maintaining No.1 position (Source: China Market Monitor Co., Ltd. (“CMM”)). – The Group ranked No.3 in the global LCD TV market with a market share of 7.3% in the first quarter of 2017 according to the latest IHS Technology figures and the Company’s shipment data, and ranked No.3 in the PRC LCD TV market with a market share of 13.6% in the first half of 2017 according to CMM’s report. (27 July 2017, Hong Kong) – TCL Multimedia Technology Holdings Limited (“TCL Multimedia” or “the Group”, HKSE stock code: 01070) today announced its unaudited consolidated interim results for the six months ended 30 June 2017. Business Review With continued product mix optimisation, the proportion of middle-to-high-end products has been steadily increasing in the first half of 2017 (Data below excluded ODM business). – Smart TV sales volume amounted to 2.33 million sets, which accounted for 75.1% of the LCD TV sales volume in the first half of 2017, rising from 62.6% in the first half in 2016. – 4K TV sales volume amounted to 1.26 million sets, which accounted for 40.6% of the LCD TV sales volume in the first half of 2017, rising from 33.9% in the first half of 2016. – Market share of curved TVs was 35.2%, maintaining No.1 position (Source: CMM). Sales volume of curved TVs rose significantly by 79.4% year-on-year to 480,000 sets, which accounted for 15.4% of the LCD TV sales volume in the first half of 2017, increasing from 7.4% in the first half of 2016. – The average size of TVs sold increased from 43.7 inches in the corresponding period of last year to 45.5 inches. Overseas Markets – In the North American market, LCD TV sales volume surged by 215.9% year-on-year. – LCD TV sales volume in the emerging markets rose by 20.5% year-on-year. – LCD TV sales volume in the European market dropped by 38.7% year-on-year. – LCD TV sales volume of the strategic ODM business was up by 9.6% when compared with the corresponding period of last year. The Group enhanced its product mix through CBUS (curved, big screen, 4K and smart) strategy (excluding ODM business): – The sales volume proportion of curved TV increased from 1.6% in the first half of 2016 to 1.9% in the first half of 2017. – The sales volume proportion of TV with screen size of 55 inches and above rose from 13.8% in the first half of 2016 to 16.3% in the first half of 2017. – The sales volume proportion of 4K TV increased from 12.5% in the first half of 2016 to 19.3% in the first half of 2017. – The sales volume proportion of smart TV rose from 48.3% in the first half of 2016 to 77.0% in the first half of 2017.
In the first half of 2017, the Group recorded a revenue of approximately RMB30.19 million, with a growth of 18.7% year-on-year, while the accumulated number of TCL activated smart TV users of the Group totaled 20,303,387, and the daily average number of active users in June 2017 was 9,169,637 (Source: Huan Technology Co., Ltd.). – Video-on-demand business totaled 19.39 million users, increased by 39.9% when compared to the first half of 2016. – Paid business totaled 242,000 users, increased by 374.5% when compared to the first half of 2016. – Average spending time of users on TV reached 4.9 hours.
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Document: http://n.eqs.com/c/fncls.ssp?u=BUNPBOSNBA Document title: 2017IR_Press Release_Eng_20170727_Eng
27/07/2017 Dissemination of a Financial Press Release, transmitted by EQS Group. |