Core Viewpoint - TCL Electronics reported a strong performance for the fiscal year 2024, with revenue reaching HKD 99.32 billion, a year-on-year increase of 25.7%, and a net profit of HKD 18.5 billion, up 123.6% from the previous year, indicating robust growth and investor confidence in the company's future prospects [1][3]. Group 1: Business Performance - The large-size display segment remains a cornerstone of TCL's business, generating revenue of HKD 60.11 billion in 2024, a 23.6% increase, with global TV shipments reaching 29 million units, up 14.8% [4]. - TCL's global market share in TVs has increased from 5.6% in 2015 to 13.9% in 2024, solidifying its position as one of the top two global TV brands [4]. - The average size of TVs shipped in the domestic market increased by 1.9 inches to 63.3 inches, while overseas shipments saw an increase of 1.5 inches to 49.4 inches [4]. Group 2: Industry Context - The global TV shipment volume in 2024 was 210 million units, a modest increase of 3.7%, highlighting TCL's superior growth rate compared to the industry average [5]. - The recovery of the global TV market and the rise of high-definition display technologies have provided TCL with significant growth opportunities [6]. Group 3: Innovation and New Business - TCL's innovative business segments have shown rapid growth, with total revenue from these segments increasing by 44.9% to HKD 27.01 billion in 2024 [8]. - The solar energy business, a key component of TCL's innovation strategy, saw revenue growth of 104.4% to HKD 12.87 billion, reflecting the company's commitment to green energy solutions [8][10]. - The company has established a strong presence in the solar market, covering 23 key provinces in China and signing over 220 projects [8]. Group 4: Global Strategy and Market Position - TCL has successfully implemented a global supply chain strategy, establishing manufacturing bases in various countries, enhancing flexibility and responsiveness to market demands [16]. - The company's marketing strategy leverages international sports events to boost brand visibility and market penetration, particularly in the high-end TV segment [17]. Group 5: Financial Returns and Shareholder Value - TCL announced a final dividend of HKD 0.318 per share for 2024, with a payout ratio of 45.57%, reflecting a commitment to returning value to shareholders [19][20]. - The company's stock price has surged by 290% since the beginning of 2024, indicating strong market confidence and performance [1][21].
TCL电子(01070.HK)2024年业绩深度解码：全球化战略释放增长势能，三张王牌铸就领先优势