Samsung Electronics and Samsung Display’s share acquisition is completed in Suzhou, China: TCL

On April 12, 2021, TCL Technology published its Q1 2021 performance forecast, which revealed that the profit of the first quarter is expected to be 3.05 billion to 3.42 billion yuan, an increase of 10.3 times to 11.6 times year-on-year, net profit attributable to the parent is 2.32 billion yuan -2.55 billion yuan, a year-on-year increase of 470%-520%.

The report also suggests that TCL Huaxing’s net profit increased by 15 times year-on-year, an increase of nearly 30% month-on-month. The shipment area has increased by 15% year on year, while the prices of major size products have continued to rise.

The net profit of the large-size business has increased compared with the fourth quarter of 2020. Meanwhile, in the small size field, the t3 production line is fully sold and fully produced, and the t4 flexible AMOLED production line is expanded as planned.

On the basis of the significant increase in the fixed cost of the new production line expansion, the company has achieved operating benefits year-on-year through product structure optimization and extreme operation management improvement.

The company also accelerates the development of IT, automotive, and other products and customers in the mid-size field, and improves the product matrix and business system in the full-size field.

Aside from this, TCL Technology’s Announcement pointed out that its acquisition of 60% equity of Suzhou Samsung Electronics LCD Technology Co., Ltd. and 100% equity of Suzhou Samsung Display Co., Ltd. has been completed.

Completion of the settlement, starting to contribute revenue and benefits to the company from the second quarter of 2021. The completion of the company’s acquisition of 100% equity in Maojia International is progressing as planned, and it has not been included in the company’s consolidated statements during the reporting period.

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