Non-profit deductions increased by up to 871%, TCL and Skyworth disclosed performance

Recently, TCL Electronics, TCL Technology, Skyworth Group, Skyworth Digital and other companies have released performance reports. The TV business performance of the two companies is as follows

TCL's electronic display business has grown. Mini LED TV global shipments have increased significantly by 118.0% year-on-year, and the overseas growth rate has been 228.0%. It continues to implement the "globalization" and "mid-to-high-end" strategies;

Skyworth Group's smart TV revenue in 2025 will total 21.666 billion yuan, which is lower than the new energy business revenue of 23.685 billion yuan.

▋ TCL Technology: TCL Huaxing’s revenue was 105.24 billion yuan

On March 27, TCL Technology released its 2025 annual report. The operating income during the year was 184.06 billion yuan, a year-on-year increase of 11.7%; the net profit attributable to shareholders of listed companies was 4.52 billion yuan, a year-on-year increase of 188.8%; the net operating cash flow was 44.02 billion yuan, a year-on-year increase of 49.1%.

Among them, TCL CSOT achieved high-quality growth, achieving operating income of 105.24 billion yuan, a year-on-year increase of 17.4%, net profit of 8.01 billion yuan, a year-on-year increase of 44.4%, and net profit attributable to TCL Technology shareholders of 5.36 billion yuan, a year-on-year increase of 54.4%.

At the business level, TCL CSOT's large-size TV and commercial display business continued to maintain its global leadership, and its small and medium-sized business grew rapidly, with shipments of monitors, laptops and mobile phone panels increasing by 17%, 64% and 29% year-on-year. In emerging application fields, TCL Huaxing's vehicle-mounted display shipment area increased by 61% year-on-year, and its market share increased to 11%.

And in 2025, TCL Huaxing successfully acquired and integrated the LGD Guangzhou LCD factory, the second phase of the t9 project was fully put into production, and completed the strategic acquisition of a minority stake in the G11 production line. And it continues to promote the industrialization process of the two strategic tracks of printed OLED and MLED: its world's first high-generation printed OLED production line has started construction; it actively promotes the vertical integration of the LED industry chain and opens up innovation space in the field of optoelectronic applications.

▋ TCL Electronics: Mini LED TV global shipments increased significantly by 118.0% year-on-year

In 2025, TCL Electronics' revenue increased by 15.4% year-on-year to HK$114.58 billion, profit after tax increased by 36.7% year-on-year to HK$2.53 billion, and adjusted net profit attributable to shareholders increased by 56.5% year-on-year to HK$2.51 billion. The overall revenue of the display business increased by 9.2% year-on-year to HK$75.80 billion, the gross profit increased by 16.4% year-on-year to HK$12.48 billion, and the gross profit margin increased by 1.1 percentage points year-on-year to 16.5%.

Among them, the large-size display business achieved revenue of HK$64.71 billion during the year, a year-on-year increase of 7.7%; gross profit reached HK$10.90 billion, a year-on-year increase of 17.2%.

In 2025, TCL TV’s global shipment market share will reach 14.7%, a year-on-year increase of 0.8 percentage points; TCL Mini LED TV’s global shipments will increase by 118.0% year-on-year, its shipment share will increase by 6.8 percentage points year-on-year to 13.0%, and its shipment market share will reach 31.1%.

In the international market, large-size display business revenue was HK$47.50 billion, a year-on-year increase of 15.7%. TCL Mini LED TV shipments in the international market increased by 228.0% year-on-year, and its shipment share increased by 7.1 percentage points to 10.6%. Among them, the European market achieved full coverage of key channels, with revenue growing by 13.9% year-on-year; the mid-to-high-end strategy in the North American market was effectively implemented, with revenue growing by 11.2% year-on-year; emerging markets such as Latin America, Middle East and Africa, and Asia-Pacific saw revenue grow by 19.8% year-on-year,

In addition, the smart commercial display business reuses TV's world-leading resource advantages, focusing on the four major scenarios of office, retail, catering, and exhibitions, and continuously improves product competitiveness. In 2025, revenue will increase by 28.4% year-on-year to HK$1.12 billion, and gross profit will increase by 24.0% year-on-year to HK$140 million.

▋ Skyworth Group: Smart TV revenue is 21.666 billion yuan

On March 27, Skyworth Group released its annual report results. As of December 31, 2025, the company's operating income was 70.324 billion yuan, a year-on-year increase of 8.17%; net profit attributable to the parent company was 356 million yuan, a year-on-year decrease of 37.32%; the overall gross profit margin was 12.8%, a decrease of 0.7% from 13.5% in 2024.

From the perspective of business segments, Skyworth’s smart home appliance business will have a turnover of 35.656 billion yuan in 2025, a year-on-year increase of 6.5%. The turnover of Skyworth smart TV products in mainland China and overseas markets was 11.781 billion yuan and 9.885 billion yuan respectively, totaling 21.666 billion yuan, which was lower than the revenue of new energy business of 23.685 billion yuan.

Skyworth mentioned in its annual report that the domestic home appliance market is in a red ocean of competition, coupled with the long-tail effect of the shrinking real estate market, the business environment is facing challenges. Although supported by the national "replacement of old with new" policy, Skyworth still adopts an aggressive overseas expansion strategy to diversify single market risks.

This year, the trend of home appliance business extending overseas has become more obvious. At the end of February, Skyworth and Panasonic reached an in-depth strategic partnership. According to the cooperation agreement, Skyworth will be fully responsible for the production, sales, marketing and channel expansion of Panasonic brand TVs in the European market; Panasonic will focus on core imaging technology research and development, product definition and quality control. The two parties will carry out joint development in the field of high-end OLED models.

Skyworth New Energy's business mainly includes the sales and installation of distributed photovoltaic power stations for residential and industrial and commercial purposes, and provides intelligent operation and maintenance services for distributed photovoltaic power stations. In 2025, new energy business revenue will be 23.685 billion yuan, a year-on-year increase of 16.5%.

▋ Skyworth Digital: Revenue in 2025 is 8.809 billion yuan

Skyworth Digital also disclosed its 2025 annual report on March 27. Skyworth Digital’s main business is divided into three major segments: intelligent terminals, professional displays, and operational services. During the reporting period, revenue was 8.809 billion yuan, an increase of 1.33%; net profit attributable to the parent company was 180 million yuan, a decrease of 28.28%.

In the professional display business, the automotive display system business promotes the upgrade of automotive display technology to Mini-LED, expands new categories such as automotive sports displays, armrest screens, rear entertainment systems, and HUDs, and further develops new forces, Korean and European markets.