[三季报]TCL科技(000100):2026年第三季度报告（英文版）
原标题:TCL科技:2026年第三季度报告（英文版） October2026 Content SectionIImportantNoticesandDefinitions.................................................................3 SectionIIKeyFinancialInformation............................................................................5 SectionIIIManagementDiscussionandAnalysis........................................................8SectionIVShareholderInformation............................................................................16 SectionVOtherSignificantEvents.............................................................................18 SectionVIQuarterlyFinancialStatements..................................................................19 SectionIImportantNoticesandDefinitions The Board of Directors (or the “Board”), the directors, and seniormanagementofTCLTechnologyGroupCorporation(hereinafterreferredtoasthe“Company”)herebyguaranteethatthisquarterlyreportisfactual,accurate, and complete, and shall be jointly and severally liable for anymisrepresentations,misleadingstatements,ormaterialomissionstherein.Mr.LiDongsheng,theperson-in-chargeoftheCompany,Ms.LiJian,theperson-in-chargeoffinancialaffairs(ChiefFinancialOfficer),andMs.JingChunmei,theperson-in-chargeofthefinancialdepartment,herebyguaranteethatthefinancialstatementsinthisReportarefactual,accurate,andcomplete.AlloftheCompany’sdirectorsattendedtheBoardmeetingforthereviewofthisThirdQuarter2026Report. The future plans, development strategies or other forward-lookingstatementsmentionedinthisReportshallNOTbeconsideredaspromisesoftheCompanytoinvestors.Therefore,investorsarekindlyremindedtopayattentiontopossibleinvestmentrisks. ThisReporthasnotbeenaudited.ThisReporthasbeenpreparedinboth ChineseandEnglish.Shouldtherebeanydiscrepanciesormisunderstandingsbetweenthetwoversions,theChineseversionshallprevail. Definitions
(I)Keyaccountingdataandfinancialindicators Indicatewhetherthereisanyretrospectivelyadjustedorrestateddatuminthetablebelow□Yes ?No
?Applicable□Notapplicable
TheCompanyhasnootherprofitandlossitemsthatmeetthedefinitionofnon-recurringprofitsandlosses.Notesondefiningnon-recurringprofitandlossitemsthatarelistedintheExplanatoryAnnouncementNo.1onInformation DisclosureforCompaniesOfferingTheirSecuritiestothePublic—Non-RecurringGain/Lossasrecurringprofitandlossitems □Applicable ?Notapplicable TheCompanydoesnothaveanynon-recurringprofitandlossitemslistedintheExplanatoryAnnouncementNo.1onInformation DisclosureforCompaniesOfferingTheirSecuritiestothePublic—Non-RecurringGain/Lossthataredefinedasrecurringprofit andlossitems. (III)Changesinkeyaccountingdataandfinancialindicatorsandreasonsforsuchchanges?Applicable□Notapplicable Unit:RMB
I.OverallOperatingPerformanceoftheCompanyDuringtheReportingPeriodSincethestartoftheyear,escalatinginternationalgeopoliticalconflictsandsurgingupstreamenergypriceshavereignitedupwardpressureoninflation.Againstthisbackdrop,themomentumof global economic growth has weakened, with macroeconomic uncertainties increasingsubstantially.Inthefaceofexternalchallenges,theCompanyfocusedonthreekeybusinesspillars, including displays, new energy photovoltaics, and other silicon materials. Wecontinuouslystrengthenedtheoperationsbarrierscharacteristicofhigh-tech,heavy-asset,andlong-cycle industries, anchored our leading strategy, and pursued sustainable high-qualitydevelopment. Inthefirstthreequartersof2026,theCompanyachievedoperatingrevenueofRMB138.7billion,representinga2.03%increaseYoY.NetprofitattributabletoshareholdersreachedRMB5.12billion,surging68.1%YoY,whileoperatingcashflowtotaledRMB24.79billion.AsoftheendoftheReportingPeriod,theCompany’sdebt-to-assetratiostoodat66.6%,anincreaseof2.4percentagepointsfromtheendofthepreviousyear,duetoacquisitionsofminorityinterestsinsubsidiaries,cashdividendpaymentsandotherfactors;cashandcashequivalentsattheendoftheReportingPeriodtotaledRMB14billion. II.OperationsPerformanceoftheCompany’sCoreBusinessesDuringtheReportingPeriodTheCompanywasdeeplyengagedinleadingedgemanufacturingindustriescharacterizedbyhightechnology,heavyassets,andlongcycleswithdisplays,newenergyphotovoltaics,andothersiliconmaterialsatitscore,andcontinuouslypromotedtechnologicalinnovationandindustrialadvancementsupportingthestrategicgoalsofgloballeadership. (I)DisplayBusiness 1.TCLCSOT Inthefirstthreequartersof2026,end-marketdemandintheglobaldisplayindustryremainedunderpressureoverall,whiletheproductmixcontinuedtoupgradeandperformancevariedacrossapplicationmarkets.Risingpricesformemoryandothercomponentspushedupdevicecosts,affectingthetimingofpurchasesbysomesmartphoneandnotebookbrands.Meanwhile,theshifttowardlargerTVs,theadoptionofmultiplein-vehicledisplays,andtheexpansionofhigh-enddisplayapplicationscontinuedtosupportstructuraldemand.Inthethirdquarter,peak-seasoninventorystockingbyTVbrandsanddemand-basedproductionbymajorpanelmanufacturersSeptemberfollowingmodestdeclinesinJulyandAugust,whilemonitorandnotebookpanelprices remained generally stable. Flexible OLED smartphone panel prices remained underpressureamidcautiouspurchasingbybrandsandmarketcompetition.Risingupstreamcostsplaced greater demands on panel manufacturers’ product mix optimization, supply chainmanagement,andoperationalefficiency. DuringtheReportingPeriod,TCLCSOTremainedfocusedonvalue-orientedoperation,respondingtomarketchangesthroughdemand-basedproduction,productmixoptimization,andefficiencyimprovementstomaintainoperationalresilience.Inthefirstthreequarters,itrecordedoperatingrevenueofRMB76.73billionandnetprofitofRMB5.71billion,withnetprofitattributabletoshareholdersofTCLTECH.reachingRMB5.04billion.Inthethirdquarter,itrecordedoperatingrevenueofRMB26.46billion,up5%QoQ,andnetprofitofRMB1.81billion,withnetprofitattributabletoshareholdersofTCLTECH.reachingRMB1.75billion.InAugust2026,theCompanycompletedtheacquisitionofa45%equityinterestinGuangzhouCSOTBandaoti.Followingthetransaction,TCLTECH.directlyandindirectlycontrolled100%ofitsequity.FromSeptember2026,ahigherproportionofGuangzhouCSOTBandaoti’snetprofitwasattributabletoshareholdersofTCLTECH. Thelarge-sizeddisplaybusinessoptimizeditsproductmixtomeetdemandforlargerandhigher-end displays, reinforcing its earnings base. The Company leveraged the scale andefficiencyadvantagesofitshigh-generationproductionlines,adjustedproductionschedulestocustomerorders,andstrengthenedcoordinationamongproductionlinesandcostcontrolstoimproveoperationalefficiency.BuildingonitsHVAtechnology,theCompanydevelopedthreeproductseries:HVAGreenforhighenergyefficiency,HVAProforhighimagequality,andHVAUltraforinnovativehigh-endapplications.Theseproductscateredtodifferentcustomerneeds,enhancedproductcompetitiveness,andstrengthenedtheCompany’sabilitytowithstandpriceandcostfluctuations. Themedium-sizeddisplaybusinesscontinuedtoexpandintheITandautomotivemarkets,optimizingitsbusinessmix.IntheITsegment,theCompanyrosetosecondplacegloballyinnotebookpanelmarketshareinthesecondquarter.Notebookpanelsalesvolumeincreasedby41%YoYinthefirstthreequartersandby7%QoQinthethirdquarter,whilepartnershipswithbrandcustomerscontinuedtostrengthen.TheCompanyrankedsecondgloballyinmonitorpanelmarketshare.Withinthissegment,itsgamingmonitorpanelshaveconsistentlyrankedfirstgloballyinbothshipmentvolumeandmarketsharesince2022.Onaverage,oneoutofeverythreegamingmonitorsfeaturesaTCLCSOTpanel.LeveragingHVA,HFS,printedOLED,andothertechnologies,theCompanybroadeneditsproductportfolioforconsumerandprofessionalgamingapplicationstomeetdifferentcustomerrequirementsforimagequality,refreshrates,andresponsetimes.Theautomotivedisplaybusinessmaintainedstronggrowth,withsalesvolumeincreasingby45%YoYinthefirstthreequartersandby20%QoQinthethirdquarter.Byshipmentarea,theCompanymaintaineditsthird-placeglobalrankingintheoverallautomotivepanelmarketandrankedfirstgloballyinLTPSautomotivepanelmarketshare.Itsbusinessscaleandcustomercoveragecontinuedtoexpand. Thesmall-sizeddisplaybusinessincreaseditsLCDmarketshareanddroveoperationalimprovementsforitsflexibleOLEDbusiness.TheCompany’sglobalmarketsharerankinginLCDsmartphonepanelsrosefromthirdinthefirsthalfoftheyeartosecondinthethirdquarter.SalesvolumeofflexibleOLEDsmartphonepanelsrecoveredquarterbyquarterfromthesecondquarter.Toimproveoperatingperformance,theCompanyincreasedproductvolumestomeetdemandfromkeycustomersandabroaderrangeofapplications,whileraisingyields,reducingmaterial costs, and improving its product mix. The Company led the development of anelectronicsindustry standard fortesting creases inflexibledisplay devicesusing theimagereflectionmethod.ThestandardtookeffectonSeptember1,providingaquantitativebasisforthedevelopmentandqualityevaluationoffoldabledisplayproducts. TheCompanycontinuedtocommercializeprintedOLEDandMLEDtechnologiesandbuildrelatedproductioncapacity.AttheWuhant12productionline,severalprintedOLEDproductswerebeingmass-producedandshippedonastablebasis.Its27-inchprintedOLEDUHD120Hzdesktopdisplaysolutionwonthe“OLEDDisplaySolutionGoldAward”atIFA2026.ThemainproductionbuildingoftheGuangzhout8projectenteredtheSuperCleanphaseonSeptember17,withcleanroomacceptanceandmajorequipmentmove-inprogressingasplanned.ForMLED,PhaseIIoftheSuzhouCOBdirectdisplayprojectenteredmassproductioninAugustandcontinued to rampup capacity. Construction oftheShenzhen MLED projectprogressed asplanned. Once completed, the project will strengthen coordination across the LED chip,packaging,anddirectdisplaysegmentsoftheindustrychain.ForMicroLED,theCompanysuccessfullylituprelevantproductsusingitsproprietaryT-Pixeltechnologyandcontinuedtoadvancetechnologydevelopmentandproductvalidation. Looking ahead, TCL CSOT will remain focused on value-oriented operation. It willconsolidate the large-sized display business’s profitability leadership through demand-basedproduction and cost management, increase the contribution from the medium-sized displaybusinessthroughproductupgradesandcustomerexpansion,andimprovethesmall-sizeddisplaybusiness’soperating performancethroughyield improvements, material costreductions, andproductmixoptimization.Itwillalsocontinuetoadvancecustomervalidation,improvemass-productionyields,andoptimizecoststoacceleratethecommercializationofprintedOLEDandMLED.Inemergingfieldssuchasglass-basedadvancedpackaging,opticalcommunications,andperovskites, the Company will proceed in phases under its established plans. Technologyvalidationandcustomerdemandwillguidetheseefforts,withinvestmentreturnsalsotakenintoaccount,astheCompanydevelopslong-termgrowthdrivers. 2.MokaTechnology MokaTechnology’scorebusinessistheODMproductionofintelligentdisplayterminalproducts,includingTVs,monitors,andcommercialdisplays.Itisahigh-techmanufacturerwithaglobal manufacturing footprint and the world’s largest TV ODM manufacturer. During theReportingPeriod,MokaTechnologyachievedoperatingrevenueofRMB6.01billion.ItsTVODMbusinessmaintainedtheworld’shighestshipmentvolume,whileitsmonitorODMbusinessrankedfifthgloballybyshipmentvolume.Commercialdisplayshipmentsincreasedby37%YoY,creatingfurtheropportunitiesforbusinessgrowth.Tosupportitsbusinessdevelopment,MokaTechnologyfurtherstrengtheneditsglobalmanufacturingfootprint,continuedtoincreaseR&Dinvestment,optimizeditscustomermix,andadvancedproductupgradestoenhanceitsoverallcompetitiveness. (II)NewEnergyPhotovoltaicsBusiness Inthefirstthreequartersof2026,newdomesticphotovoltaicinstallationsfellsharplyfollowingpolicychanges.Overseasdemandmaintainedsteadygrowthoverall,althoughregionaldivergence intensified. The exit of excess capacity had yet to gain momentum, and thephotovoltaicindustrycontinuedtofaceasupply-demandimbalance. The Company’s new energy photovoltaics business continued to pursue its strategy ofmeasuredintegrationandglobalexpansion,consolidatingitsstrengthsinphotovoltaicmaterials,strengtheningitscapabilitiesincellsandmodules,enhancingsynergiesacrosstheindustrychain,andoptimizing itsproduct andcustomermixto improveoperational efficiencyandmarketcompetitiveness. From the beginning of the year to the end of the Reporting Period, theCompany’snewenergyphotovoltaicsbusinessachievedsalesrevenueofRMB18.61billion.Themodulebusinessaccountedfor50.1%ofthisrevenue,anincreaseof3.2percentagepointsfromthefirsthalfoftheyear. The photovoltaic materials business maintained demand-based production, continued toreducecostsandimproveefficiency,andoptimizeditsproductandcustomermix.DuringtheReportingPeriod,theCompany’swaferbusinessreducedcashcostsby17.3%YoYthroughAIapplications, supply chain optimization, and tighter controls over energy consumption andworkforceproductivity.Leveragingitsadvantagesinrawmaterials,processes,andmanufacturing,segments’requirementsforhigherefficiencyanddifferentiatedtechnologies.FromJanuarytoSeptember2026,theCompanyshipped83.4GWofphotovoltaicwafers,rankingfirstintheindustry by market share. Overseas shipments accounted for 13.8% of total shipments andincreasedby355%YoY. Thecellandmodulebusinesscontinuedtooptimizeitsproductandcustomermixandstrengthen its global operations, improving both overall competitiveness and market share.Buildingonitsbrandportfolio,includingTCLSolarandSunPower,themodulebusinessrefineditsproductmixwithmulti-cutcellmodules,BCmodules,andotherproductstostrengthenitspricingpower.ItleveragedsynergiesacrossR&D,supplychains,manufacturing,andmarketingtoexpanditsreachamongkeydomesticstrategiccustomersandimproveitsabilitytofulfillorders.Italsopursuedgrowthopportunitiesinkeyregionalmarkets,includingtheMiddleEastand Africa, Southeast Asia, Europe, Australia, and New Zealand, optimizing its overseascustomerandmarketpresencetoenhanceitsglobaloperatingcapabilities.FromJanuarytoSeptember2026,theCompany’scellandmodulebusinessachievedsalesvolumeof14.5GW,anincreaseof43%YoY.Overseasshipmentsaccountedfor20.6%oftotalshipmentsandincreasedby202%YoY. TheacquisitionofacontrollinginterestinDASSolarwascompletedinearlyJuly.TheCompanyimmediatelylaunchedprojectstoupgrade20GWofcellcapacityand25GWofmodulecapacitytoBCtechnology.Theseprojectsareexpectedtobecompletedinstagesbythefirstquarterof2027.Uponcompletion,theCompanywillhave20GWofBCcellcapacityand50GWofmodulecapacity,comprising25GWofBCcapacityand25GWofTOPConcapacity.Thiswillcreateamorebalancedcapacitystructureandfurtherstrengthensynergiesacrosstheindustrychain. (III)OtherSiliconMaterialsBusiness Inthefirstthreequartersof2026,continuedgrowthinAIandcomputingdemanddrovedemand for logic and memory chips, while recovering demand from new energy vehicles,photovoltaicpowerandenergystorage,andindustrialcontrolapplicationsboosteddemandforpowerandanalogchips.Together,thesetrendssupportedastructuralrecoveryintheindustry.Demandstrengthenedacrossseveraldownstreammarkets.The12-inchwafermarketbenefitedfromgrowthinAIcomputing,high-performancecomputing(HPC),advancedmemory,andlogicchips.Demandfor8-inchwafersgraduallyrecovered,supportedbyautomotive-gradepowerdevices,industrialapplications,andpowermanagementchips,withAIserverpowersuppliesgenerating additional demand. The 6-inch wafer market saw structural improvements, withdemandprimarilycomingfromMEMS,sensors,low-andmedium-powerdiscretedevices,andsmall-signal analog chips. Demand remained strong for high-value-added specialty wafers,includingadvancedlightlydopedpolishedwafers,heavilydopedsubstrates,andepitaxialwafersforpowerdevices.Supplyremainedstructurallytightforhigh-endspecifications,andpricesenteredarecoveryandupwardcycle. ZhonghuanAdvancedservesastheoperatingentityoftheCompany’ssiliconmaterialsbusiness.Guidedbyits“LeadatHome,CompeteGlobally”strategy,ZhonghuanAdvancedhasbecomeoneofthefewsiliconwafermanufacturersworldwideofferingafullrangeofwafersizesacross multiple technology platforms. It is committed to providing comprehensive productsolutions to customers worldwide. Capitalizing on growth opportunities in the industry, theCompanyacceleratedcapacityupgradesandadvancedproductdevelopment.Itscomprehensiveproduct portfolio supported growth in business scale alongside improvements in operatingperformance. The Company’s silicon materials business maintained its industry-leading position inrevenueandprofitability.Withproductsspanningafullrangeofwafersizesandcategories,ZhonghuanAdvancedwaswellpositionedtosupplyproductstailoredtocustomers’needs,meettheirdiverselong-termproductrequirements,andcontinuetoimproveitsfinancialperformance.FromJanuarytoSeptember2026,ZhonghuanAdvancedachievedoperatingrevenueofRMB4.9billion,up15%YoY,andbrokeevenoverall.Third-quarteroperatingrevenuereachedRMB1.86billion, up 23% YoY, with net profit of RMB 80 million, marking aquarter of profitableoperations. ZhonghuanAdvancedmaintaineditsleadingdomesticpositioninshipmentvolumewhilecontinuingtoimproveitsproductandcustomermix.Inthefirstthreequarters,ZhonghuanAdvancedshipped1,101MSI,up21%YoY.Shipmentsof12-inchproductsincreasedby24%YoY,whileshipmentsof8-inchandsmallerproductsincreasedby18%YoY.Shipmentsoftheamongtheleadingdomesticsuppliersbymarketshare.SpecialtyproductsforpowerdevicesandCMOS image sensors (CIS), as well as float-zone wafers, served high-value-added marketsegmentsandmaintainedacommandingmarketsharelead.TheCompanycontinuedtoexpanditsoverseasbusiness,generatingoverseasrevenueofRMB1.14billioninthefirstthreequarters,up19%YoY.Itsglobalcustomerbaseandinternationalsupplycapabilitiescontinuedtogrow.ZhonghuanAdvancedwillstrengthenitscompetitiveadvantagesthroughcapacityexpansion,technologicalbreakthroughs,qualityimprovements,costreductions,andefficiencygains.Theseeffortswillreinforceitsdomesticleadershipandsupportitsambitiontobecomeoneoftheworld’sleadingsiliconwafermanufacturers.TheCompanywillcontinuetoincreaseinvestmentinadvancedtechnologiesandprocesses,acceleratingtheR&Dandvalidationofwafersforhigh-end logic, high-bandwidth memory (HBM), advanced packaging, and high-end specialtyprocessestofurtherstrengthenitstechnologicalbarrierstoentry.Tosupportmarketandcustomerdevelopment,theCompanywillsecureordersduringcapacityramp-upthroughlong-termsupplyagreements(LTAs),deepenstrategicpartnershipswithcorecustomers,andincreaseitsshareofsupplytothesecustomers.Itwillalsosteadilyadvancecustomerqualificationandadoptionofadvancedandhigh-endproducts. Bytheendof2026,combined12-inchwafercapacityattheYixingandXuzhousitesisexpected to increase to 1 million wafers per month. The Company will also accelerateconstructionofits12-inchwaferfactoryinShenzhen,continueupgrading8-inchcapacityatitsYixingandTianjinsites,andrampupsupportingcrystalproductioninInnerMongoliatomeetglobalcustomerdemand.Onceallfivesitesreach fullproduction,theCompany’smonthlycapacityfor12-inchand8-inchwaferswillreach2.1millionand1.4millionwafers,respectively.(IV)Non-corebusiness DuringtheReportingPeriod,TPCperformedwell,whiletheCompany’sfinancialservices,investment,andotherbusinessesdevelopedsteadily. Facingasevereandcomplexexternalenvironment,theCompanywillembracethespiritof"ForgingAheadtoConquerNewChallenges".Byadheringtotheoperationalphilosophyof"StrategicLeadership,Innovation-Driven,AdvancedManufacturing,andGlobalOperations",theCompanywillseizethehistoricopportunitiespresentedbytheadvancementoftheleadingedgemanufacturingindustryandtransformationoftheglobalenergystructuretoachievesustainablehigh-qualitydevelopmentandmovetowardgloballeadership. SectionIVShareholderInformation (I)Tableofthetotalnumberofordinaryshareholdersandthenumberofpreferredshareholderswithresumedvotingrightsaswellastheshareholdingsofthetop10shareholdersUnit:share
Corporationheld239,384,027sharesintheCompany. Participationofshareholdersholdingmorethan5%,thetop10shareholders,andthetop10non-restrictedshareholdersinthe lendingofsharesundertherefinancingbusiness □Applicable ?Notapplicable Changeinthetop10shareholdersandthetop10non-restrictedshareholdersduetosecuritieslending/returningunderrefinancing ascomparedtothepreviousperiod □Applicable ?Notapplicable (II)Totalnumberofpreferredshareholdersandshareholdingsofthetop10preferredshareholders□Applicable ?Notapplicable SectionVOtherSignificantEvents ?Applicable□Notapplicable 1.OthersignificanteventsduringtheReportingPeriod (1)Completionoftheacquisitionofa45%equityinterestinGuangzhouChinaStarOptoelectronicsBandaotiDisplayTechnologyCo.,Ltd.throughshareissuanceandcashpaymentduringtheReportingPeriodOnMarch30,2026,theBoardreviewedandapprovedproposalsincludingtheProposalontheReport(Draft)onAssetPurchaseviaShareIssuanceandCashPaymentandRaisingofSupportingFundsofTCLTechnologyGroupCorporationandIts Summary.TheCompanyproposestoacquire,throughshareissuanceandcashpayment,the45%equityinterestinGuangzhou ChinaStarOptoelectronicsBandaotiDisplayTechnologyCo.,Ltd.(“GuangzhouCSOTBandaoti”)heldbyGuangdongHengjian InvestmentHoldingCo.,Ltd.,GuangzhouChengfaXingguangInvestmentPartnership(LimitedPartnership)andScienceCity (Guangzhou)InvestmentGroupCo.,Ltd.,andtoraisesupportingfundsconcurrently.Thetotaltransactionconsiderationwas RMB9,324,807,200,comprisingRMB4,662,403,600insharesandRMB4,662,403,600incash.Followingthecompletionofthe Transaction,theCompanydirectlyandindirectlycontrols100%oftheequityinterestsinGuangzhouCSOTBandaoti.OnApril24,2026,theCompanyconvenedthe2025AnnualGeneralMeeting,atwhichtheaforementionedmatterswerereviewedandapproved. OnJune1,2026,theBoardreviewedandapprovedtheProposalonCancelingtheRaisingofSupportingFundsfortheAsset PurchaseviaShareIssuance.Takingintoaccounttheinterestsofallshareholdersandthesustainedpositivemomentuminthe Company’soperationsanddevelopment,theCompanydecidedtocancelthearrangementforraisingsupportingfundsfortheasset purchaseviashareissuance.ThecashconsiderationwillinsteadbepaidfromtheCompany’sownorself-raisedfunds. OnJuly24,2026,theMergerandAcquisitionReviewCommitteeoftheShenzhenStockExchangeapprovedtheCompany’sacquisitionofthe45%equityinterestinGuangzhouCSOTBandaotithroughshareissuanceandcashpayment.On August 19, 2026, the Company received the Reply on Approving the Registration of TCL Technology Group Corporation’sAssetPurchaseviaShareIssuance(CSRCPermit[2026]No.2116)issuedbytheChinaSecuritiesRegulatory Commission. OnAugust21,2026,theindustrialandcommercialregistrationforthetransferofthe45%equityinterestinGuangzhou CSOTBandaotiwascompleted.The1,145,553,704newsharesissuedforthetransactionwerelistedontheShenzhenStock Exchange on August 31, 2026, subject to a 12-month lock-up period. The Company’s total share capital increased from 20,800,862,447sharesto21,946,416,151shares. SectionVIQuarterlyFinancialStatements (I)Financialstatements 1.ConsolidatedBalanceSheet Preparedby:TCLTechnologyGroupCorporation September30,2026
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