TCL Technology released its performance forecasting report for the first three quarters on October 14 2021. According to it, net profit of the company is expected to range at around 13.05-13.35 billion Yuan, up by 533%-548% year over year, of which net profit attributable to shareholders of the listed company is expected to reach 9.03 billion Yuan-9.18 billion Yuan, up by 346%-353% year over year.
It is learned that the semiconductor business (including displays, photovoltaic panels and material) of the company made a significant growth in net profit for the first three quarters, but a big investment loss caused by selling its stake in Fantasia affected its overall performance of Q3.
Plus, TCL China Star Optoelectronics Technology Co., Ltd. (TCL CSOT) saw its net profit for the first three quarters 16 times higher than the same period of last year and net profit for Q3 alone 3 times higher, indicating an estimated net profit of 10 billion Yuan for the first three quarters. As to shipping, the company saw a growth of more than 30% year over year.