TCL Technology's net profit in 2025 is expected to increase by 188.8% year-on-year, with the semiconductor display business accelerating development.

Reporter Ding Rong

On the evening of March 27, TCL Technology Group Corporation (hereinafter referred to as “TCL Technology”) disclosed its 2025 annual report. The company reported a revenue of 184.06 billion yuan for 2025, an increase of 11.7% year-on-year; the net profit attributable to shareholders of the listed company was 4.52 billion yuan, a year-on-year increase of 188.8%.

TCL Technology’s semiconductor display business is accelerating its development. TCL Technology’s subsidiary, TCL Huaxing Optoelectronics Technology Co., Ltd. (hereinafter referred to as “TCL Huaxing”), has significantly improved its profitability, becoming the core growth engine of the company’s performance. In 2025, TCL Huaxing achieved revenue of 105.24 billion yuan, a year-on-year increase of 17.4%; it achieved a net profit of 8.01 billion yuan, a year-on-year increase of 44.4%, showing a development trend of “steady progress in large sizes, rapid growth in medium and small sizes, and comprehensive blossoming of emerging applications.”

Specifically, TCL Huaxing’s large-size TV and commercial display business continue to maintain a global leadership position, while the medium and small size business is growing rapidly. The shipment volumes of monitors, laptops, and mobile phone panels increased by 17%, 64%, and 29% year-on-year, respectively, with market shares ranking among the top globally. The tablet business achieved leapfrog growth, with its market share rising to second in the world. In emerging application areas, TCL Huaxing’s automotive display shipment area increased by 61% year-on-year, and its market share improved to 11%, solidifying a diversified growth pattern.

Li Dongsheng, founder and chairman of TCL, stated in the annual report letter: “The company believes that the global display industry landscape is being restructured. Chinese companies have already formed advantages in the LCD (liquid crystal display) industry, and the future competition focus will be on technologies and materials such as OLED (organic light-emitting diode) and M-LED (a collective term for Mini-LED and Micro-LED, a new type of display technology). Continuous technological innovation has enhanced the competitiveness of LCD products, allowing TCL Huaxing to consolidate its advantages in the large display field and enhance competitiveness in medium and small screens, forming a relative competitive advantage in the LCD field, and building differentiated competitiveness in printed OLED. TCL Huaxing will strive to establish a leading advantage in the global display industry.”

Fan Boyu, an analyst at TrendForce Consulting (Shenzhen) Co., Ltd., said in an interview with the Securities Daily reporter: “Domestic panel manufacturers have already surpassed 70% in the global TV panel market share, and this scale advantage has significantly enhanced the influence of our manufacturers in maintaining supply and demand stability.”

“In terms of new display technologies and materials such as OLED and M-LED, leading companies in China’s display industry, including TCL Technology, have achieved breakthroughs in certain areas, demonstrating a ‘partial leading’ advantage, and are expected to play a leading role in the global display industry’s technological upgrade in the future,” said Bai Wenxi, chairman of Zhonghe Kunlun (Beijing) Asset Management Co., Ltd., in an interview with the Securities Daily reporter.

In the photovoltaic business segment, TCL Technology’s subsidiary, TCL Zhonghuan New Energy Technology Co., Ltd. (hereinafter referred to as “TCL Zhonghuan”), reported photovoltaic revenue of 22.725 billion yuan, a year-on-year decrease of 0.28%, with revenue stabilizing in the second half of the year.

In 2025, TCL Zhonghuan will focus on consolidating its competitiveness in crystal chips, accelerating the development of battery and component business, improving its industrial chain layout, actively expanding global business, striving to improve operational performance, and adhering to the strategy of “resolving crises through development and seeking opportunities amidst difficulties,” promoting mergers and acquisitions to strengthen capabilities and enhance industrial chain competitiveness.

TCL Technology stated that the global energy structure’s transition to clean and low-carbon is an irreversible trend, the overseas photovoltaic market will continue to grow, and technological advancements will also bring new market demands. The company is confident in continuously improving its relative competitiveness during the industry downturn, optimizing its industrial layout, achieving restorative growth this year, and improving operational performance.

(Editor Qiao Chuanchuan)