in the world. During the Reporting Period, the large size panel businessrecognized revenue of RMB6.19 billion, up by 44.6% year-on-year. By the enlarging scale andimprovement in operation and management efficiency, the large size panel business achieved profitin a single quarter and its performance was improved strikingly compared to the previous quarter.The small size panel production lines of TCL CSOT are all in Wuhan. Because of its specialproduction requirements, they need to be operated continuously. Confronted with the suddenoutbreak of the epidemic, Wuhan CSOT took strict epidemic prevention and control measures, andguaranteed the safe production continuously. The major steps of the t3 LTPS production lineoperated at full capacity. As the supply chain was affected by certain logistic constrains during thepeak of the epidemic and the work resumption progress of employees, the production capacity ofthe module section lagged behind at the first but has gradually returned to normal. The ramp-up offlexible AMOLED of the t4 production line progressed as scheduled, but with an increase in one-offadditional cost due to traffic control as well as stricter pandemic control and prevention measuresduring the epidemic. For the Reporting Period, the sales area of t3 and t4 plants of TCL CSOT was
Other current assets6,471,074.006,471,074.00
Accounts receivable8,550,847,668.008,340,353,992.00
Part III Directors’ Report ...... 11
IX Irregularities in the Provision of Guarantees
Perpetual bonds
Changes in market prices or fair value of derivative investments in Reporting Period (fair value analysis should include measurement method and related assumptions and parameters)With the rapid expansion of overseas sales, the Company keeps following the above rules in the operation of forward foreign exchange contracts, interest rate swap contracts and futures contracts to avoid and hedge foreign exchange risks arising from operation and financing. It saw a loss of RMB1.48 million for the Reporting Period. The fair value of derivatives is determined by real-time quoted price of the foreign exchange market, based on the difference between the contractual price and the forward exchange rate quoted immediately in the foreign exchange market on the balance sheet date.
Contractual assets
Current assets:
Investments in other equity instruments15,000,000.0015,000,000.00
Interest income162,367,782.00199,963,103.00
R&D expense
Diluted earnings per share (RMB/share)0.03020.0576-47.57
2EBITDA (RMB)2,809,282,1844,155,509,053-32.40
15.31% and net profit attributable to the listed company’s shareholders would be down by 46.94% in Q1 2020 compared to Q1 2019.
1. Adjustments to the Financial Statements at the Beginning of the First Execution Year of any NewStandards Governing Revenue or Leases in 2020The consolidated balance sheet:
Held-for-trading financial liabilities731,256,011188,220,097288.5%Increase in liabilities associated with investments
Gain on changes in fair value (“-” for loss)81,456,431.00-75,625,521.00
III Independent Auditor’s ReportIndicate whether the financial statements above have been audited by an independent auditor.
Deferred income tax liabilities952,677,822.00952,677,822.00
Long-term payables
Li Dongsheng and his acting-in-concert party548,236,045RMB-denominated ordinary stock548,236,045
Long-term payables
1Revenue (RMB)Note13,742,129,16229,600,956,875-53.58
Selling expense159,592,9402,182,421,040-92.7%Asset restructuring
Deferred income tax assets
FantasiaFantasia Holdings Group Co., Limited, a listed company on the Stock Exchange of Hong Kong (stock code: 01777.HK), with the Company holding a 20.06% interest as its second largest shareholder
0.22 million square meters, down by 25.4% year-on-year, with the sales volume as 16.58 million
Total liabilities100,961,739,586.00100,961,739,586.00
Legal representative: Li Dongsheng Person-in-charge of financial affairs: Du JuanPerson-in-charge of the financial department: Xi Wenbo
Lease liabilities
IV Operating Performance Forecast for H1 2020Warning of a forecast loss on or a forecast significant year-on-year change in the net profit of H1 2020, as well as explanation ofwhy:
Dividends payable11,057,515.0011,057,515.00
Unit: RMB
Semi-conductor display & materialsTCL CSOT
Progress of any reduction of the repurchased shares through centralized bidding:
Perpetual bonds
Contractual liabilities141,702,747-100.0%Adoption of the new accounting standard governing revenue
ItemQ1 2020Q1 2019
5.1 Items that will not be reclassified to profit or loss
Long-term payroll payable22,816,497.0023,017,619.00
Payments for interest and dividends168,428,437.00323,287,951.00
Name of shareholderUnrestricted shares heldShares by type
Total non-current liabilities18,663,664,680.0018,663,664,680.00
1. Cash flows from operating activities:
Add: Non-operating income139,294,872.008,843,380.00
Part III Directors’ Report
Unit: RMB
Top 10 shareholders
Provisions
5.2 By ownership
The “Company”, the “Group”, “TCL”, “TCL Tech.” or “we”TCL Technology Group Corporation and its consolidated subsidiaries, except where the context otherwise requires
Admiralty Harbour CapitalAdmiralty Harbour Capital Limited
10Equity per share attributable to the listed company’s shareholders (RMB/share)2.24672.22580.94
Announcement on the Completion of Share Repurchase & Changes in Shares13 January 2020
Use rights assets
Summary of the significant eventDisclosure dateIndex to the related announcement