It is the key operational philosophy and mission of the Company to create value for and grow with the shareholders. In order toeffectively protect shareholders’ interests and enhance shareholder value, the Company convened the 14
pieces, down by 37.6% year-on-year. The small and mid-size panel business (including CDOT)recognized revenue of RMB2.95 billion. The sales volume of LTPS smart phone panels of the t3production line ranked 3
Less: Treasury stock1,952,956,751.001,952,956,751.00
Notes receivable19,539,531.0022,514,486.00
Name of shareholderNature of shareholderShareholding percentageTotal shares heldRestricted shares heldShares in pledge or frozen
Net payments for the acquisition of subsidiaries and other business units170,197,901.00
Capital reserves5,726,522,215.005,716,667,384.00
Including: Interest receivable
investmentTCL Financial
Other non-current financial assets1,561,751,746.001,540,912,643.00
Share capital13,528,438,719.0013,528,438,719.00
Derivative financial assets
Accounts receivable financing
Net increase in borrowings from the central bank168,685,969.00-102,574,602.00
Deferred income tax assets840,874,034.00840,874,034.00
Other comprehensive income56,064,337.0056,064,337.00
Short-term borrowings12,069,657,099.0012,069,657,099.00
Juhua
Borrowings obtained13,646,741,209.0011,450,834,740.00
Cash generated from other operating activities467,981,716.00611,209,398.00
Including: Interest payable
Advances from customers80,718.0017,470,841.00
9Share capital (share)13,528,438,71913,528,438,7190.00
in the world forthe first time with a market share of 18.8% and 19.6% respectively, of which the market shares of32-inch and 55-inch products ranked 1
29 April 2020
6.1.1 Changes caused by remeasurements on defined benefit pension schemes
Bonds payable19,475,871,500.0016,479,085,461.00
Use rights assets
Long-term payroll payable22,816,497.0023,017,619.00
Insurance contract reserve
Total current liabilities43,057,790,139.0043,057,790,139.00
Retained earnings8,993,726,731.008,119,832,872.00
Liabilities directly associated with assets classified as held for sale
Total current assets54,233,026,313.0048,155,522,366.00
5.2.1 Other comprehensive income that will be reclassified to profit or loss under the equity method
6.2 Items that will be reclassified to profit or loss-111,436,829.00182,670,669.00
Long-term borrowings43,569,455,600.0038,512,059,200.00
Assets classified as held for sale
Payroll payable71,036,306.00125,095,153.00
I OverviewQ1 2020 saw improvement in both supply and demand of the semi-conductor display industry, withrising prices for large size panels. However, the outbreak of COVID-19 slowed down thecommercial activities of most of the major countries, the economy was hit severely, and themomentum of the recovery slowed down. Facing such a sudden challenge from the business andoperation, the Company focused on its strategic target, strengthened its cost effectiveness advantage,and kept on its aim as a global leading intelligent technology group.Since the fight against COVID-19, the Company has established the epidemic emergency reactioncenter, and actively carried out the epidemic monitoring and prevention well. The Company tookthe life and health of the employees as the top priority, and strengthened disinfection andsterilization, disease prevention, health management, and other measures. Supported by theindependent digital system of the Company, the Company arranged employees at various places fordecentralized work according to the actual situation. The operation and management functionedwell with remote communication and coordination. The Shenzhen and Huizhou plants help WuhanCSOT also. Confronted with the severe situation, all the employees united together and overcamethe difficulties together to guarantee the safe and efficiency of the Company.On the same basis after the spin-off, in Q1 2020, the Company recorded revenue of RMB13.74billion, up 15.3% year-on-year; and the net profit attributable to the listed company’s shareholderswas RMB0.41 billion, down by 46.9% year-on-year while up by RMB0.37 billion compared withQ4 2019. Revenue of TCL CSOT was RMB9.14 billion, up by 25.3% year-on-year, with a net profitof RMB-0.174 billion, up by RMB0.159 billion compared with Q4 2019. Prices of large size panelssaw an increase in the Reporting Period, but were still at the bottom of the historical price. By theultimate efficiency and profitability advantage of TCL CSOT, the large size panel BU returned toprofit comparing with Q4 2019. t3 LTPS and t4 AMOLED plants of small and mid-size panels inWuhan has normal production and operation; however, the additional cost, like epidemic prevention,employees’ welfare, as well as additional logistic cost boosted the operation cost of this quarter andaffect the financial performance. During the Reporting Period, the industrial finance, investment
High-risk wealth management transactions with a significant single amount, low liquidity and no principal protection:
Net proceeds from acting trading of securities
Investment property82,272,964.0082,272,964.00
Other current assets7,109,383,796.005,911,827,639.00
Non-current liabilities:
Asset disposal income (“-” for loss)6,658.00-410,714.00
Bank’s wealth management productN/AAgricultural Bank of China-“Huilifeng” Customized CNY Structured Deposit Product for Corporate Clients145,000At fair value through profit or loss-145,000-108145,108Held-for-trading financial assetsSelf-funded
Huizhou Investment Holding Co., Ltd.State-owned legal person6.49878,419,747
Intangible assets5,987,233,025.005,684,584,119.00
Net payments for the acquisition of subsidiaries and other business units
3. Cash flows from financing activities:
Other receivables2,750,041,514.002,750,041,514.00
Payroll payable733,687,839.001,094,216,685.00
Interbank loans obtained
4. Income Statement of the Company as the Parent
Prepared by TCL Technology Group Corporation
Total assets66,126,950,291.0066,126,950,291.00
5. Other comprehensive income, net of tax
Taxes and surcharges884,082.005,415,554.00
5.2.2 Changes in the fair value of investments in other debt obligations
Part V Financial Statements ...... 25
Put in pledge by Jiutian Liancheng344,899,521
StatusShares
Held-for-trading financial liabilities
Cash generated from other operating activities8,341,488,901.006,660,157,054.00
Other current liabilities
Surplus reserves2,036,303,650.002,036,303,650.00
Major changes in accounting policies and specific accounting principles adopted for derivative investments in Reporting Period compared to last reporting periodNo major changes
Interest income47,407,066.0049,939,643.00
6.2.4 Allowance for credit impairments in investments in other debt obligations
8.1 Basic earnings per share0.03160.0578
ItemQ1 2020Q1 2019
Net profit attributable to the listed company’s shareholders on the same basis after the restructuring (RMB)Note408,125,802769,299,155-46.94
4.1 Net profit from continuing operations (“-” for net loss)873,893,858.0081,386,006.00
ICBC Credit Suisse Asset Management Co., Ltd.－Agricultural Bank of China－ICBC Credit Suisse China Securities Financial Assets Management PlanDomestic general legal person0.5574,761,500
Loans and advances to customers2,082,761,822.003,637,768,065.00
Accounts receivable financing
Premiums receivable
Total share capital at the end of the last trading session before the disclosure of this Report (share)13,528,438,719
6.2.1 Other comprehensive income that will be reclassified to profit or loss under the equity method8,800,657.00-219,502,741.00
Goodwill2,452,186.002,452,186.00
Total liabilities106,910,262,431.00100,961,739,586.00
Fixed assets52,301,387.0054,238,373.00
Other gains and losses that meet the definition of non-recurring gain/loss--
Contractual liabilities15,676,793.00
Total518,007,444--
Dividends receivable5,771,104.005,771,104.00
Part II Key Corporate Information ...... 5
CDOTChina Display Optoelectronics Technology Holdings Limited, a majority-owned subsidiary of the Company listed on the Stock Exchange of Hong Kong (stock code: 00334.HK)
1. Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting Rights as well asHoldings of Top 10 Shareholders
Taxes payable299,992,111.00226,806,037.00
Proceeds from sale of commodities and rendering of services14,850,100,323.0029,948,578,250.00
Long-term equity investments39,929,455,258.0039,297,272,437.00
FIRST QUARTER REPORT 2020
Interbank loans granted
Including: Cost of sales12,743,745,923.0024,435,034,582.00
Revenue13,742,129,16229,600,956,875-53.6%Asset restructuring
Proceeds from disinvestment1,365,307,500.005,542,600,000.00
Part I Important Notes ...... 3
Investments in other debt obligations
5.2.5 Reserve for cash flow hedges
th
Fixed assets54,238,373.0054,238,373.00
Including: Preferred shares
DateWay of communicationType of communication partyIndex to main information communicated
6. Cash and cash equivalents, end of the period15,473,570,679.004,403,537,268.00
Contractual assets
Unit: RMB
Payables for underwriting of securities
1. Revenue13,789,536,228.0029,650,896,518.00
Assets classified as held for sale
Total non-current liabilities65,623,232,955.0057,903,949,447.00
Owners’ equity:
Receivable reinsurance contract reserve
Payments for commodities and services185,587,256.00362,320,629.00
Long-term payables24,210,128.0024,206,057.00
Semi-conductordisplay & materials
Cash used in other operating activities1,331,550,307.003,187,114,088.00
Investment property84,107,837.0082,272,964.00
Productive living assets
Investments in other debt obligations
Share capital13,528,438,719.0013,528,438,719.00
R&D expense971,078,841.001,548,470,972.00
thBoard of Directors, with no difference compare to the disclosed Report on Share Repurchase. As such, the Company hascompleted the share repurchase as per the repurchase plan that it disclosed.
China Ray
Disclosure date of board announcement approving derivative investment (if any)28 April 2018
Receivable reinsurance contract reserve
Non-current assets:
Including: Interest expense403,477,889.00343,515,714.00
Return on investment76,434,103.00107,806,341.00
Fixed assets45,459,070,330.0045,459,070,330.00
Investments in other equity instruments254,138,926.00279,883,515.00
Contractual liabilities17,390,123.0017,390,123.00
Accounts receivable445,089,599.00445,089,599.00
Net profit attributable to the listed company’s shareholders before non-recurring gains and losses (RMB)-109,881,642560,950,806-119.59
5. Consolidated Cash Flow Statement
Handling charge and commission income
Owners’ equity:
Investments in debt obligations
Liabilities directly associated with assets classified as held for sale
Unit: RMB’0,000
Prepayments486,656,441364,422,94833.5%Increase in prepayments to suppliers
Deferred income tax liabilities
Total current assets24,651,549,079.0024,651,549,079.00
Total owners’ equity30,170,458,859.0030,170,458,859.00
Monetary assets3,966,899,016.003,966,899,016.00
Total current assets37,377,619,974.0024,651,549,079.00
Deferred income1,578,324,797.001,912,421,056.00
stin the world, while 65-inchand 75-inch panels ranked the 2
Less: Non-operating expense10,715,126.008,628,523.00
Derivative financial assets221,068,889.00159,035,592.00
Net cash generated from/used in financing activities7,670,463,8711,668,797,144359.6%Increase in financings
II Total Number of Shareholders and Holdings of Top 10 Shareholders at 31 March 2020
Held-for-trading financial liabilities
Insurance contract reserve
Productive living assets
Other securities investments held at period-end409,119--484,057558,606675,056-10,017335,325----
1. Operating revenue277,992,615.00391,405,520.00
Monetary assets19,770,216,093.0018,648,184,663.00
Inventories5,059,806,606.005,677,963,123.00
Total assets172,763,657,093.00164,844,884,926.00
th
Notes receivable123,291,567.00228,941,977.00
Construction in progress12,965,861.001,241,308.00
Including: Preferred shares
5Weighted average return on equity (%)1.352.54-1.19
5.2.4 Allowance for credit impairments in investments in other debt obligations
Current liabilities:
Including: Interest payable
Current assets:
Total owners’ equity63,883,145,340.0063,883,145,340.00
□ Applicable ■ Not applicable
Interest income134,103,744.00202,474,056.00
Long-term receivables
Subtotal of cash generated from operating activities15,676,687,035.0031,874,225,814.00
Other non-current financial assets2,542,689,268.002,542,689,268.00
Other non-current liabilities
Retained earnings11,115,149,885.0011,115,149,885.00
Inventories37,016,902.0014,868,714.00
5.1.2 Other comprehensive income that will not be reclassified to profit or loss under the equity method
Tibet Tianfeng Enterprise Management Co., Ltd.417,344,415RMB-denominated ordinary stock417,344,415
Net cash generated from/used in investing activities-598,313,857.003,599,722,927.00
Asset impairment loss (“-” for loss)-232,590,984.00-171,248,740.00