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  • TCL科技:2022年第三季度报告(英文版)

    日期:2022-11-02 18:22:03
    股票名称:TCL科技 股票代码:000100
    研报栏目:定期财报  (PDF) 557K
    报告内容
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    TCLTechnology Group Corporation Third Quarter 2022 Report 1 Stock Code: 000100 Stock Abbr.: TCLTECH. Announcement No.: 2022-106 TCL科技集团股份有限公司TCLTechnology Group Corporation Third Quarter 2022 Report October 21,2022 TCLTechnology Group Corporation Third Quarter 2022 Report 2 Content Section IImportant Notice ............................................................................................3 Section IIKey Financial Information ............................................................................4 Section IIIManagement Discussion and Analysis ........................................................7 Section IVShareholder Information ...........................................................................10 Section VOther Significant Events ............................................................................11 Section VIQuarterly Financial Statements .................................................................12 TCLTechnology Group Corporation Third Quarter 2022 Report 3 Section IImportant Notice The Company and all members of the Board of Directors hereby guarantee the authenticity, accuracy, and completeness of the information disclosed, and warrant that there are no false records, misleading statements, or material omissions therein. The Board of Directors (or the “Board”), the Supervisory Committee, directors, supervisors and senior management of TCLTechnology Group Corporation (hereinafter referred to as the “Company”) hereby guarantee that this quarterly report is factual, accurate and complete, and shall be jointly and severally liable for any misrepresentations, misleading statements, or material omissions therein. Mr. Li Dongsheng, the person-in-charge of the Company, Ms. Li Jian, the person-in-charge of financial affairs (Chief Financial Officer), and Mr. Xi Wenbo, the person-in-charge of the financial department (Chief Accountant), hereby guarantee that the financial statements carried in this Quarterly Report are factual, accurate, and complete. The future plans, development strategies or other forward-looking statements mentioned in this Report shall NOT be considered as promises of the Company to investors. Therefore, investors are kindly reminded to pay attention to possible investment risks. This report has not been audited. This Report has been prepared in both Chinese and English. Should there be any discrepancies or misunderstandings between the two versions, the Chinese version shall prevail. TCLTechnology Group Corporation Third Quarter 2022 Report 4 Section IIKey Financial Information I. Key accounting data and financial indicators Does the Company need to retroactively adjust or restate the accounting data of previous years √ Yes □ No Reasons for retroactive adjustment or restatement Change of accounting policy Q32022 Q32021 Change From the beginning of the year to the end of the current reporting period Q32021 Change Before adjustment After adjustment After adjustment Before adjustment After adjustment After adjustment Revenue (RMB) 41,992,680,714 46,629,888,432 46,633,918,068 -9.95% 126,514,861,842 120,928,535,190 121,039,767,107 4.52% Net profit attributable to the company’s shareholders (RMB) -382,858,737 2,318,085,363 2,308,401,225 -116.59% 280,664,134 9,101,970,170 9,110,619,712 -96.92% Net profits attributable to the company’s shareholders before non-recurring gains and losses (RMB) -1,259,772,878 3,060,177,204 3,050,493,066 -141.30% -1,886,642,263 8,557,995,151 8,566,644,693 -122.02% Net cash generated from operating activities (RMB) —— —— —— —— 12,661,888,660 23,959,709,061 23,959,709,061 -47.15% Basic earnings per share (RMB/share) -0.0282 0.1730 0.1722 -116.38% 0.0207 0.6756 0.6762 -96.94% Diluted earnings per share (RMB/share) -0.0280 0.1652 0.1645 -117.02% 0.0205 0.6487 0.6493 -96.84% Weighted average return on equity (%) -0.99% 6.20% 6.18% Decrease of 7.17 percentage points 0.72% 25.16% 25.18% Decrease of 24.46 percentage points At the end of the reporting period 31 December 2021 Change Before adjustment After adjustment After adjustment Total assets (RMB) 347,011,613,569 308,733,133,305 308,987,970,915 12.31% Owner’s equity attributable to the company’s shareholders (RMB) 38,874,222,766 43,034,234,611 43,103,580,799 -9.81% TCLTechnology Group Corporation Third Quarter 2022 Report 5 Reasons for changes in accounting policies: In December 2021, the Ministry of Finance issued the Notice on the Issuance of "Interpretation of Accounting Standards for Business Enterprises No.15" (CK [2021] No.35) (hereinafter referred to as "Interpretation No.15"), which defines the accounting treatment of the external sales of products or by-products produced before the fixed assets reach the expected serviceable state or during the R&D process. In accordance with the requirements of Interpretation No.15, the Company has adopted new accounting standards as of January 1,2022, and retroactively adjusted the profit and loss realized from the external sales of prototype products produced in previous periods. Total share capital at the end of the last trading session before the disclosure of this report: Total share capital at the end of the last trading session before the disclosure of this report (share): 14,030,642,421 Fully diluted earnings per share based on the latest total share capital above: Fully diluted earnings per share based on the latest total share capital above (RMB/share) 0.0200 II. Non-recurring profit and loss items and amount √ Applicable □ Not applicable Unit: RMB Item Amount in the reporting period Amount from the beginning of the year to the end of the reporting period Gains and losses on disposal of non-current assets (inclusive of impairment allowance write-offs) 753,350,768 1,217,618,772 Government subsidies charged to current profits and loss (except for the government subsidies which are closely related to the normal operation of the Company, and are subject to national policies and certain standard quota or quantifiable eligibility on an ongoing basis) 288,063,771 717,987,147 Gains and losses from changes in fair value of held-for-trading financial assets, held-for-trading financial liabilities, and gains from disposal of financial assets and liabilities held-for-trading and available-for-sale financial assets, except for effective hedging in connection with the day-to-day operation of the Company -1,899,748 -13,063,641 Reversal of provision for impairment of receivables that have been individually tested for impairment 6,000,000 16,179,957 Non-operating income and expenses other than the above items -96,425,107 442,159,453 Less: Corporate income tax 33,156,348 80,921,899 Effect on minority interest (after tax) 39,019,195 132,653,392 Total 876,914,141 2,167,306,397 Details of other profit and loss items that meet the definition of non-recurring profits and losses: □ Applicable √ Not applicable The Company has no other profit and loss items that meet the definition of non-recurring profits and losses. Note on non-recurring profit and loss items listed in the Explanatory Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public—Non-Recurring Gain/Loss defined as Recurring Gain/Loss items □ Applicable √ Not applicable The Company does not have any non-recurring profit and loss items listed in the Explanatory Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public—Non-Recurring Gain/Loss that are defined as recurring profit and loss items. TCLTechnology Group Corporation Third Quarter 2022 Report 6 III. Changes of key accounting data and financial indicators and reasons therefor √ Applicable □ Not applicable Unit: RMB Balance Sheet items September 30,2022 January 1,2022 Increase / decrease ratio (%) Reason for change Held-for-trading financial assets 12,458,309,755 7,601,255,964 63.9 Mainly due to the increase of wealth management products Prepayments 5,101,393,247 2,306,325,116 121.2 Mainly due to an expansion of production and increase in material prepayment Construction-in-progress 59,707,708,868 37,029,504,222 61.2 Mainly due to the increase of investment in the t9 Line Other non-current assets 9,767,708,008 7,449,008,656 31.1 Mainly due to an expansion of investment and an increase in construction and equipment prepayment Notes payable 5,722,709,973 3,275,295,915 74.7 Mainly due to an increase of note settlement Contract liabilities 4,866,154,983 2,593,882,004 87.6 Mainly due to an increase of advance receipt for goods Income Statement items Amount of the current period Amount of the previous period Increase / decrease ratio (%) Reason for change R&D expenses 6,862,053,578 5,232,711,515 31.1 Mainly due to the increase of R&D investment Asset impairment losses (losses are indicated by "-") -2,147,817,307 -1,556,201,649 38.0 Mainly due to an increase of inventory write-downs based on market conditions Income tax expenses -339,091,631 2,105,311,185 -116.1 Primarily due to the decrease in tax payments as the semiconductor display business affected by the industry cycle Cash Flow Statement items Amount of the current period Amount of the previous period Increase / decrease ratio (%) Reason for change Net cash generated from operating activities 12,661,888,660 23,959,709,061 -47.2 Primarily due to the decrease in operating cash flows as the semiconductor display business affected by the industry cycle Net cash used in investing activities -39,343,781,309 -29,918,789,880 -31.5 Mainly due to an increase of project investment Net cash generated from financing activities 24,068,689,896 8,683,436,043 177.2 Mainly due to growth of financing scale TCLTechnology Group Corporation Third Quarter 2022 Report 7 Section IIIManagement Discussion and Analysis During the reporting period, the global economy was constrained by a series of factors, including the escalating Russia-Ukraine conflict, intensified inflation expectation, and repeatedly surging COVID-19 cases. In the face of complicated external environment, the Company dedicated itself to development in pan-semiconductor industry with a focus on semiconductor displays, new energy photovoltaics, and semiconductor materials. The Company strengthened risk controls, enhanced its competitive edges, and realized sustainable development in accordance with the principle of "improving operating quality and profitability, consolidating advantages and correcting disadvantages, promoting innovation-driven development and accelerating global layout". During the reporting period, the Company achieved revenue of RMB126.51 billion, net profit of RMB1.95 billion, net profit attributable to the listed company’s shareholders of RMB281 million and net cash flow from operation of RMB12.66 billion. The semiconductor display business saw delayed recovery due to changes in the macro-situation. The average product price for the first three quarters of the year were markedly lower than that of the same period of the last year, and the profit margin of the industry dropped to the cyclical bottom. This round of cyclical adjustment may help further integration and reshuffle of the industry, increasing the concentration of the industry, under which the industry is expected to return to normal profitability level. At the same time, the market demand in some region is gradually recovering, and the prices of major products have begun to stabilize and recover. In the wake of the historic opportunities brought by the structural transformation of global energy and the mushrooming demands for semiconductors across China, the Company has continued to shore up its leading technological position in new energy photovoltaics and semiconductor materials, improving the capacity and market share of differentiated products, achieving a rapid growth in both revenue and performance. Semi-conductor display business During the reporting period, the Company accelerated the implementation of mid-size strategy, optimized business and product structures, transforming from a large-size displays leader to full-size display leader. The Company committed to upholding the operational bottom line by reducing costs TCLTechnology Group Corporation Third Quarter 2022 Report 8 and enhancing efficiency, balancing product structures and implementing lean management throughout the entire industry cycle. During the reporting period, TCLCSOT sold 32.67 million square meters of display panel, with an increase of 15% year-on-year, and bolstered its revenue from display segment to RMB52.1 billion. With respect to large-size displays, the Company continued to consolidate its leading position of TV panel with high-end product strategy, occupying the world’s largest share in the 8K and 120HZ markets, along with the second largest share in the 65 inch and 75 inch markets. The Company became a major supplier for leading clients in the commercial market in areas such as interactive boards, digital signage and splicing screen. The Company ranked 1st in the world in mid-and-large-size interactive board and digital signage, along with 3rd in splicing screen. With respect to mid-and-small-sized displays, the Company continued to improve its product series and customer structure. The Company's delivery of LTPS tablet ranked 1st in the world, while its delivery of LTPS notebook products ranked 2nd. The Company also registered a significant growth in the shipment of LTPS vehicle-mounted devices, and expanded its market share in AR/VR products. With the successful launch of the t9 production line positioned formid-sized IT and vehicle-mounted devices and the progress made in the sixth generation of its LTPS production line, the mid-size business will make greater contributions to the sustainable growth of the Company. At present, the price of major products are rebounding as profit margins hit a historical low in the industry and demand increase in certain regional markets. In the long run, leading enterprises will further strengthen their advantages of technology and scale, and semiconductor display industry will consolidate to a degree of concentration. With the increasing order of market competition, the return on investment will also rise. The Company is optimistic about the development and value of the display industry as a key information device and interactive interface. New energy photovoltaic and semiconductor material business During the reporting period, TCLZhonghuan, a subsidiary controlled by the Company, recorded a revenue of RMB49.84 billion, up by 71.35% year-on-year, and net profit of RMB5.49 billion, up by 68.94% year-on-year. TCLZhonghuan’s new energy photovoltaic segment seized the opportunity in industry development, continued to promote manufacturing upgrading and industry 4.0 transformation, TCLTechnology Group Corporation Third Quarter 2022 Report 9 accelerated the production of advanced and leading capacity, steadily improved processing capability, and continuously strengthened its core product competitiveness. The overall capacity of monocrystals has been scaled up to 128GW, keeping the competitiveness of G12 silicon wafers and N--type silicon wafers in both production and sales. Monthly single-furnace output recorded another new high, while the number of photovoltaic silicon wafers produced per unit material was significantly ahead of the industry. The Company insisted on differential technologies and product roadmaps under the “imbrication + G12” dual platform, continued to increase the market share of photovoltaic module products and further advanced its globalization strategy for marketing and manufacturing. During the reporting period, the Company joined with its partners to invest and develop the 100,000-ton granular silicon and silicon-based material project and the 10,000-ton electronic-grade polycrystalline silicon project to promote the stability and optimization of industrial chain and supply chain. Amid the complicated and ever-changing business environment, the Company insisted on its strategy, and continued to develop in pan-semiconductor industry with a focus on semiconductor displays, new energy photovoltaics, and semiconductor materials. In doing so, the Company aimed to build up core competitive edges based on product and technology innovation, and accelerated its development into a global leader in the science and technology industry. TCLTechnology Group Corporation Third Quarter 2022 Report 10 Section IVShareholder Information I. Table of the total number of ordinary shareholders and the number of preferential shareholders with resumed voting rights, and the shareholdings of the top 10 shareholders Unit: Share Total number of ordinary shareholders by the end of the reporting period 734,320 Total number of preference shareholders with resumed voting rights by the end of the reporting period (if any) 0 Top 10 shareholders of ordinary shares Name of shareholder Nature of shareholder Percentage of Shareholding (%) Number of shares held at the period-end Number of restricted ordinary shares held Shares in pledge, marked or frozen Status Number Li Dongsheng and his acting-in-concert party Domestic individual /Domestic general legal entity 8.26% 1,159,085,019610,545,821 Pledge by Li Dongsheng 195,038,000 Put in pledge by Jiutian Liancheng 238,620,000 Huizhou Investment Holding Co., Ltd. State-owned legal entity 5.30% 743,139,840 Wuhan Optics Valley Industrial Investment Co., Ltd. State-owned legal entity 3.87% 543,255,796 In pledge 255,754,475 China Securities Finance Corporation Limited Domestic general legal entity 2.66% 373,231,553 Hong Kong Securities Clearing Company Limited Foreign legal entity 2.51% 352,294,169 Tibet Tianfeng Enterprise Management Co., Ltd. Domestic general legal entity 1.12% 157,552,113 TCLTechnology Group Corporation - 2021 to 2023 Employee Stock Ownership Plan (Phase I) Funds, wealth management products, etc. 0.81% 113,143,154 Sinatay Life Insurance Co., Ltd. - Conventional Product Funds, wealth management products, etc. 0.74% 104,190,172 ICBCCredit Suisse Fund - Agricultural Bank of China - ICBC Credit Suisse China Securities Financial Asset Management Plan Funds, wealth management products, etc. 0.53% 74,761,500 Southern Asset Management-Agricultural Bank of China-Southern China Securities Financial Asset Management Plan Funds, wealth management products, etc. 0.53% 74,761,500 TCLTechnology Group Corporation Third Quarter 2022 Report 11 Top 10 non-restricted ordinary shareholders Name of shareholder Number of non-restricted ordinary shares held at the end of reporting period Type of shares Type Number Huizhou Investment Holding Co., Ltd. 743,139,840 RMB-denominated ordinary shares 743,139,840 Li Dongsheng and his acting-in-concert party 548,539,198 RMB-denominated ordinary shares 548,539,198 Wuhan Optics Valley Industrial Investment Co., Ltd. 543,255,796 RMB-denominated ordinary shares 543,255,796 China Securities Finance Corporation Limited 373,231,553 RMB-denominated ordinary shares 373,231,553 Hong Kong Securities Clearing Company Limited 352,294,169 RMB-denominated ordinary shares 352,294,169 Tibet Tianfeng Enterprise Management Co., Ltd. 157,552,113 RMB-denominated ordinary shares 157,552,113 TCLTechnology Group Corporation - 2021 to 2023 Employee Stock Ownership Plan (Phase I) 113,143,154 RMB-denominated ordinary shares 113,143,154 Sinatay Life Insurance Co., Ltd. - Conventional Product 104,190,172 RMB-denominated ordinary shares 104,190,172 ICBCCredit Suisse Fund - Agricultural Bank of China - ICBC Credit Suisse China Securities Financial Asset Management Plan 74,761,500 RMB-denominated ordinary shares 74,761,500 Southern Asset Management-Agricultural Bank of China-Southern China Securities Financial Asset Management Plan 74,761,500 RMB-denominated ordinary shares 74,761,500 Explanation on the above shareholders’ associations or concerted actions Mr. Li Dongsheng and Ningbo Jiutian Liancheng Equity Investment Partnership (Limited Partnership) became persons acting in concert by signing the Agreement on Concerted Action, holding 1,159,085,019 shares in total and becoming the largest shareholder of the Company. Explanation on the top 10 ordinary shareholders participating in securities margin trading (if any) 1. Wuhan Optics Valley Industrial Investment Co., Ltd., the Company’s shareholder, loaned out “TCL TECH.” shares for financing. At the end of the reporting period,15,296,600 shares were loaned out. 2. Tibet Tianfeng Enterprise Management Co., Ltd., a shareholder of the Company, holds 59,313,521 shares through the general securities account, and holds 98,238,592 shares through the credit securities account, with a total of 157,552,113 shares actually held. Note: There is a special repurchase account “TCLTechnology Group Corporation’s special securities account for repurchase” among the top 10 shareholders, which are not outlined in the top 10 shareholders above. As of the end of the Reporting period, this repurchase account held 399,778,241 shares. II. Total number of preferential shareholders and shareholdings of the top 10 preferential shareholders □ Applicable √ Not applicable Section VOther Significant Events □ Applicable √ Not applicable TCLTechnology Group Corporation Third Quarter 2022 Report 12 Section VIQuarterly Financial Statements I. Financial statements 1. Consolidated Balance Sheet Prepared by: TCLTechnology Group Corporation Unit: RMB Item September 30,2022 January 1,2022 Current assets: Monetary assets 31,670,495,301 31,393,692,485 Settlement reserves - - Funds on loan - - Held-for-trading financial assets 12,458,309,755 7,601,255,964 Derivative financial assets 932,497,714 70,928,566 Notes receivable 615,657,549 776,201,686 Accounts receivable 16,549,169,862 18,238,782,247 Receivables financing 1,716,054,649 2,217,638,736 Prepayments 5,101,393,247 2,306,325,116 Premiums receivable - - Reinsurance accounts receivable - - Reinsurance contract provisions receivable - - Other receivables 4,428,226,031 4,458,621,235 Of which: Interests receivable - - Dividends receivable - - Financial assets purchased under sale-back agreement - - Inventories 15,225,747,424 14,083,356,918 Contract assets 295,223,261 233,528,786 Held-for-sale assets - - Non-current assets maturing within one year - - Other current assets 4,589,118,185 5,802,960,362 Total current assets 93,581,892,97887,183,292,101 Non-current assets: Loans and advances to customers - - Debt investments 737,160,393 - Other debt investments - - Long-term receivables 635,189,040 651,117,971 Long-term equity investments 28,864,974,738 25,640,578,245 Investments in other equity instruments 909,642,430 927,319,447 Other non-current financial assets 2,761,224,608 2,704,037,825 Investment property 877,787,417 761,902,236 Fixed assets 114,485,025,927 113,723,758,876 Construction-in-progress 59,707,708,868 37,029,504,222 Productive biological assets - - Oil and gas assets - - Right-of-use assets 2,064,309,218 2,426,911,208 Intangible assets 16,521,704,622 14,000,546,363 Development costs 2,800,521,340 2,540,199,289 TCLTechnology Group Corporation Third Quarter 2022 Report 13 Goodwill 9,173,261,286 9,158,841,295 Long-term deferred expenses 2,685,605,604 2,640,530,156 Deferred income tax assets 1,437,897,092 2,150,423,025 Other non-current assets 9,767,708,008 7,449,008,656 Total non-current assets 253,429,720,591 221,804,678,814 Total assets 347,011,613,569 308,987,970,915 Current liabilities: Short-term borrowings 11,943,712,273 9,341,426,543 Borrowings from the Central Bank 821,867,213 1,437,062,154 Borrowed funds - - Held-for-trading financial liabilities 735,727,968 925,035,483 Derivative financial liabilities 618,264,838 22,204,824 Notes payable 5,722,709,973 3,275,295,915 Accounts payable 24,703,170,622 24,297,859,803 Advances from customers 318,776 5,794,242 Contract liabilities 4,866,154,983 2,593,882,004 Financial assets sold under repurchase agreements - - Customer deposits and deposits from other banks and financial institutions 755,311,447 666,056,133 Funds for brokering securities transaction - - Funds for brokering securities underwriting - - Remunerations payable 2,663,385,762 3,311,933,217 Taxes and levies payable 1,140,789,267 1,238,849,334 Other payables 21,715,882,528 19,386,888,623 Of which: Interests payable - - Dividends payable 52,035,174 34,607,012 Service charges and commissions payable - - Reinsurance accounts payable - - Held-for-sale liabilities - - Non-current liabilities maturing within one year 12,422,474,799 13,006,764,842 Other current liabilities 1,450,271,208 1,269,886,904 Total current liabilities 89,560,041,65780,778,940,021 Non-current liabilities: Insurance contract provisions - - Long-term borrowings 112,656,893,802 87,279,081,955 Bonds payable 13,605,712,404 13,066,281,402 Of which: Preferred stocks - - Perpetual bonds - - Lease liabilities 1,324,661,521 1,102,071,813 Long-term payables 765,617,792 671,344,466 Long-term remunerations payable 920,204,520 669,931,395 Estimated liabilities - - Deferred income 4,759,331,282 2,361,205,043 Deferred tax liabilities 1,628,315,877 3,158,985,929 Other non-current liabilities - - Total non-current liabilities 135,660,737,198108,308,902,003 Total liabilities 225,220,778,855189,087,842,024 Owner's equity: Capital stock 14,030,642,421 14,030,642,421 Other equity instruments 194,362,554 200,334,057 Of which: Preferred stocks - - Perpetual bonds - - TCLTechnology Group Corporation Third Quarter 2022 Report 14 Capital reserves 4,719,031,728 6,079,267,240 Less: Treasury stocks 2,311,249,047 1,885,556,526 Other comprehensive income -1,067,242,029 -409,447,681 Specific reserves 5,397,446 1,549,125 Surplus reserves 2,550,172,644 2,550,172,644 General risk provisions 8,933,515 8,933,515 Retained earnings 20,744,173,534 22,527,686,004 Total equity attributable to the owners of the parent company 38,874,222,766 43,103,580,799 Minority interests 82,916,611,948 76,796,548,092 Total owner's equity 121,790,834,714119,900,128,891 Total liabilities and owner's equity 347,011,613,569308,987,970,915 Legal representative: Li Dongsheng Person-in-charge of financial affairs: Li Jian Person-in-charge of the financial department: Xi Wenbo 2. Consolidated Income Statement from the beginning of the year to the end of the reporting period Unit: RMB Item Amount incurred in the current period Amount incurred in the previous period I. Total operating revenue 126,575,669,585 121,153,162,502 Of which: Operating revenue 126,514,861,842 121,039,767,107 Interest income 60,807,743 113,395,395 Earned premiums - - Service charge and commission income - - II. Total operating costs 128,949,175,733 108,753,137,235 Of which: Cost of sales 114,950,650,732 95,588,724,342 Interest expenditures 18,341,537 24,985,728 Service charge and commission expenditures - - Surrender value - - Net claims payment - - Net insurance liability provisions accrued - - Policy dividend expenditures - - Reinsurance expenses - - Taxes and levies 450,506,832 517,656,005 Sales expenses 1,456,590,197 1,552,806,398 Administrative expenses 2,739,873,088 3,008,738,778 R&D expenses 6,862,053,578 5,232,711,515 Financial expenses 2,471,159,769 2,827,514,469 Of which: Interest expenses 3,156,169,091 3,143,032,709 Interest income 574,239,059 304,396,859 Plus: Other income 2,527,046,371 1,236,157,521 Return on investment (losses are indicated by "-") 2,945,923,073 2,884,044,180 Of which: Share of profit or loss of joint ventures and associates 2,162,708,733 2,115,987,323 Income from derecognition of financial assets measured at amortized costs - - TCLTechnology Group Corporation Third Quarter 2022 Report 15 Exchange gains (losses are indicated by "-") 17,243,641 1,496,097 Gain on net exposure hedging (losses are indicated by "-") - - Gain on changes in fair value (losses are indicated by "-") 174,313,519 38,035,283 Credit impairment losses (losses are indicated by "-") -21,497,079 -14,189,833 Asset impairment losses (losses are indicated by "-") -2,147,817,307 -1,556,201,649 Income from asset disposal (losses are indicated by "-") -24,703,658 24,654,877 III. Operating profit (losses are indicated by "-") 1,097,002,412 15,014,021,743 Plus: Non-operating income 613,528,624 284,672,695 Less: Non-operating expenditures 97,681,058 42,141,653 IV. Gross profits (total losses are indicated by "-") 1,612,849,978 15,256,552,785 Less: Income tax expenses -339,091,631 2,105,311,185 V. Net profits (net losses are indicated by "-") 1,951,941,609 13,151,241,600 (1) Classification by business continuity 1. Net profits from continuing operations (net losses are indicated by "-") 1,951,941,609 13,092,944,856 2. Net profits from discontinued operations (net losses are indicated by "-") - 58,296,744 (2) Classification by ownership 1. Net profit attributable to shareholders of parent company (net loss indicated with “-”) 280,664,134 9,110,619,712 2. Net profit attributable to non-controlling interests (net loss indicated with “-”) 1,671,277,475 4,040,621,888 VI. Other comprehensive income, net of tax -600,216,587 -160,804,149 Other comprehensive income attributable to the owners of the parent company, net of tax -657,794,348 -174,268,754 (1) Other comprehensive income that will not be reclassified to profit or loss -38,664,611 -214,495,965 1. Changes arising from remeasurement of defined benefit plans - - 2. Other comprehensive income that cannot be subsequently reclassified into profits and losses under the equity method 387,914 14,869,672 3. Changes in fair value of investments in other equity instruments -39,052,525 -229,365,637 4. Changes in fair value of the enterprise's own credit risks - - 5. Others - - (2) Other comprehensive income that may subsequently reclassified into profit and losses -619,129,737 40,227,211 1. Other comprehensive income that can be transferred to profits and losses under the equity method 4,527,850 -141,659,959 2. Changes in fair value of other debt investments - 118,211 3. Amount of financial assets reclassified into other comprehensive income - - 4. Provisions for credit impairment of other debt investments - - 5. Reserves for cash flow hedging -178,024,905 -10,473,743 6. Conversion differences in foreign currency -445,632,682 192,242,702 TCLTechnology Group Corporation Third Quarter 2022 Report 16 financial statements 7. Others - - Other net comprehensive income attributable to minority interests, net of tax 57,577,761 13,464,605 VII. Total comprehensive income 1,351,725,022 12,990,437,451 (1) Total comprehensive income attributable to owners of the parent company -377,130,214 8,936,350,958 (2) Total comprehensive income attributable to non-controlling interests 1,728,855,236 4,054,086,493 VIII. Earnings per share: (1) Basic earnings per share 0.0207 0.6762 (2) Diluted earnings per share 0.0205 0.6493 Legal representative: Li Dongsheng Person-in-charge of financial affairs: Li Jian Person-in-charge of the financial department: Xi Wenbo 3. Consolidated Cash Flow Statement from the beginning of the year to the end of the reporting period Unit: RMB Item Amount incurred in the current period Amount incurred in the previous period I. Net cash generated from operating activities: Proceeds from sale of commodities and rendering of services 100,750,626,818 102,830,329,814 Net increase of deposits from customers, banks and other financial institutions 89,255,314 -1,082,987,202 Net increase of borrowings from the Central Bank -615,194,941 819,320,811 Net increase of borrowings from other financial institutions - 500,100,000 Cash received from collecting premiums for original insurance contracts - - Net cash received for reinsurance business - - Net increase of deposits and investments of policyholders - - Cash received from interest, service charges and commissions 60,807,743 113,395,395 Net increase of borrowed funds from banks and other financial institutions - - Net increase of repurchase business funds - - Net cash received from brokering securities transaction - - Tax and levy rebates 9,008,513,808 3,993,901,692 Cash generated from other operating activities 6,499,913,125 5,956,428,024 Sub-total of cash generated from operating activities 115,793,921,867 113,130,488,534 Payments for commodities and services 83,453,908,540 73,019,566,104 TCLTechnology Group Corporation Third Quarter 2022 Report 17 Net increase of loans and advances to customers 40,873,048 324,408,575 Net increase of deposits with the Central Bank, banks and other financial institutions 55,082,779 299,437,969 Cash paid for claims for original insurance contracts - - Net increase of funds on loan - - Cash paid for interest, service charges and commissions - - Cash paid for policy dividends - - Cash paid to and for employees 8,563,502,480 5,891,150,448 Taxes and levies paid 2,472,457,316 3,198,245,274 Cash used in other operating activities 8,546,209,044 6,437,971,103 Sub-total of cash used in operating activities 103,132,033,207 89,170,779,473 Net cash generated from operating activities 12,661,888,660 23,959,709,061 II. Net cash used in investing activities: Proceeds from disinvestments 36,317,483,105 18,761,531,372 Proceeds from return on investments 1,015,752,094 1,486,814,462 Net proceeds from disposal of fixed assets, intangible assets and other long-term assets 82,138,786 170,993,357 Net proceeds from disposal of subsidiaries and other business units - 1,167,218,777 Cash generated from other investing activities 107,866,294 5,589,112 Sub-total of cash generated from investment activities 37,523,240,279 21,592,147,080 Payments for the acquisition and construction of fixed assets, intangible assets and other long-term assets 31,453,416,391 20,703,364,427 Payments for investments 44,706,020,240 26,563,389,197 Net increase of pledged loans - - Net payments for acquiring subsidiaries and other business units 50,133,077 4,139,504,958 Cash used in other investing activities 657,451,880 104,678,378 Subtotal of cash used in investing activities 76,867,021,588 51,510,936,960 Net cash used in investing activities -39,343,781,309 -29,918,789,880 III. Net cash generated from financing activities: Capital contributions received 8,440,501,173 10,064,658,519 Of which: Capital contributions by non-controlling interests to subsidiaries 8,440,501,173 10,064,658,519 Borrowings raised 73,945,824,297 48,844,261,186 Cash generated from other financing activities 46,000,000 858,099,886 Sub-total of cash generated from financing activities 82,432,325,470 59,767,019,591 Cash paid for debt repayment 46,000,724,997 39,176,083,445 Cash paid for distribution of dividends and profits or payment of interests 7,638,841,951 5,851,178,360 TCLTechnology Group Corporation Third Quarter 2022 Report 18 Of which: Dividends and profits paid by subsidiaries to minority shareholders 1,667,403,525 412,425,974 Cash used in other financing activities 4,724,068,626 6,056,321,743 Subtotal of cash used in financing activities 58,363,635,574 51,083,583,548 Net cash generated from financing activities 24,068,689,896 8,683,436,043 IV. Effect of exchange rate changes on cash and cash equivalents 616,824,475 3,648,815 V. Net increase of cash and cash equivalents -1,996,378,278 2,728,004,039 Plus: Beginning balance of cash and cash equivalents 30,081,704,864 18,208,416,780 VI. Ending balance of cash and cash equivalents 28,085,326,586 20,936,420,819 Legal representative: Li Dongsheng Person-in-charge of financial affairs: Li Jian Person-in-charge of the financial department: Xi Wenbo II. Auditor’s Report Whether the Third Quarter 2022 Report has been audited or not □ Yes √ No The Company's Third Quarter Report has not yet been audited. TCLTechnology Group Corporation Board of Directors October 21,2022 Content Section IImportant Notice Section IIKey Financial Information I. Key accounting data and financial indicators II. Non-recurring profit and loss items and amount III. Changes of key accounting data and financial indicators and reasons therefor Section IIIManagement Discussion and Analysis Section IVShareholder Information I. Table of the total number of ordinary shareholders and the number of preferential shareholders with resumed voting rights, and the shareholdings of the top 10 shareholders II. Total number of preferential shareholders and shareholdings of the top 10 preferential shareholders Section VOther Significant Events Section VIQuarterly Financial Statements I. Financial statements 1. Consolidated Balance Sheet 2. Consolidated Income Statement from the beginning of the year to the end of the reporting period 3. Consolidated Cash Flow Statement from the beginning of the year to the end of the reporting period II. Auditor’s Report

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