On August 16, TCL Group (000100.SZ) released the 2013 mid-year report. During the reporting period, TCL Group achieved a total operating income of 39.06 billion yuan, a year-on-year increase of 31.5%, and a net profit of 1.07 billion yuan, a year-on-year increase of 122.2%. The report said that the company's performance in the first half of the year has increased significantly, and Huaxing Optoelectronics has outstanding performance, which has become the main driving force for the Group's profit growth.
In the first half of the year, Huaxing Optoelectronics achieved full production and sales, with revenue of 6.82 billion yuan. Operating profit increased significantly year-on-year, creating a profit of 890 million yuan, of which operating profit of 720 million yuan, becoming the main driving force for TCL Group's profit growth.
In the first half of the year, Huaxing Optoelectronics produced a total of 647,000 glass substrates and sold a total of 10.15 million LCD panels and module products, making it the largest and the world's fifth largest LCD TV panel supplier.
In the first half of the year, panel prices continued to fall and policy exits had a greater impact on Huaxing Optoelectronics' 32-inch main products. At the beginning of this year, the proportion of production was increased, and the output of 28-inch products was increased, which stabilized the company's profitability. In the second half of the year, the pressure of overcapacity in the panel is still there, but analysts such as Goldman Sachs Securities believe that the recent manufacturers' production cuts are accurate and the inventory is smoothly adjusted. The panel prices are expected to rebound in the second half of the year.
TCL Group said that it is cautiously optimistic about the operation of Huaxing Optoelectronics in 2013, which will enhance the competitiveness of its products and continue to maintain the goal of selling 18 million LCD panels and module products throughout the year.
In the first half of the year, Huaxing Optoelectronics achieved full production and sales, with revenue of 6.82 billion yuan. Operating profit increased significantly year-on-year, creating a profit of 890 million yuan, of which operating profit of 720 million yuan, becoming the main driving force for TCL Group's profit growth.
In the first half of the year, Huaxing Optoelectronics produced a total of 647,000 glass substrates and sold a total of 10.15 million LCD panels and module products, making it the largest and the world's fifth largest LCD TV panel supplier.
In the first half of the year, panel prices continued to fall and policy exits had a greater impact on Huaxing Optoelectronics' 32-inch main products. At the beginning of this year, the proportion of production was increased, and the output of 28-inch products was increased, which stabilized the company's profitability. In the second half of the year, the pressure of overcapacity in the panel is still there, but analysts such as Goldman Sachs Securities believe that the recent manufacturers' production cuts are accurate and the inventory is smoothly adjusted. The panel prices are expected to rebound in the second half of the year.
TCL Group said that it is cautiously optimistic about the operation of Huaxing Optoelectronics in 2013, which will enhance the competitiveness of its products and continue to maintain the goal of selling 18 million LCD panels and module products throughout the year.
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