TCL posts billion-dollar profits for the first half of 2021
TCL claims to have made no less than US$11.45 billion in operating income for its latest financial half-year, ended on June 30, 2021. This 153.3% year-on-year (YoY) growth in net income has yielded $1.426 billion (or +765% YoY) in net profit, $1.04 billion (461.5% more YoY) of which the OEM plans to return to its shareholders.
Therefore, TCL has reportedly done very well out of its 2 main lines of business (semiconductor-based photovoltaics and displays). It also noted that its CSOT division sold 17.792 million square meters (m2; 25.3% more YoY) of panel material in 1H2021, to make an operating income of $6.29 billion, (+93.6% YoY) and $1.01 billion (+103% YoY) in net profit.
As for the photovoltaics, they are handled by TCL's relatively new Zhonghuan Semiconductor division for new energy and other non-display semiconductor tech. It made $2.7 billion (+104.1% YoY) in operating income, for $291.42 million (+160% YoY) in net profit. The OEM now plans to spend the second half of 2021 developing its next-gen display products while also optimizing its more conventional lines of products such as its TVs.