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TCL Multimedia Recorded Growth in Turnover and Gross Profit Margin in the First Quarter of 2012

HONG KONG April 26, 2012

Results Highlights:

  • 31 March 2012 HK$8,302 million HK$1,497 million HK$480 million HK$309 million
  • The sales volume of overall LCD TVs reached 3.22 million sets, an increase of 67.0% year-on-year. The sales volume of LCD TVs in the PRC Market and Overseas Markets rose by 28.2% and 153.4% year-on-year, respectively, in which the sales volume of LCD TVs in the Emerging Markets alone soared 181.3% year-on-year.
  • The product mix has continuously been optimized. Sales volume of LED backlight LCD TVs accounted for 62.8% and 65.2% of overall LCD TV sales volume and LCD TV sales volume in the PRC Market, respectively. Sales volume of smart & internet TVs and 3D TVs accounted for 32.3% and 13.2% of LCD TV sales volume in the PRC Market, respectively.
  • AV business maintained healthy profitable growth thanks to improved operational efficiency and effective cost control as well as the strategy of diversifying its products and customer base.

TCL Multimedia Technology Holdings Limited 31 March 2012

HK$8,302 million HK$1,497 million HK$480 million HK$309 million HK$144 million Huizhou 18 January 2012

During the period under review, the Group was dedicated to the optimization of its products, marketing strategies, sales channels and brand influence. The Group’s overall sales volume of LCD TVs increased by 67.0% year-on-year to 3.22 million sets, of which sales volume of LCD TVs in the PRC Market and Overseas Markets increased by 28.2% and 153.4% year-on-year to 1.71 million sets and 1.51 million sets, respectively. Meanwhile, the proportion of the sales volume of LED backlight LCD TVs as a percentage of the total LCD TV sales volume increased to 62.8%. According to the latest DisplaySearch report, the Group’s global LCD TV market share in 2011 was 4.9%, propelling its ranking to No.7 from No.10 in 2010.

Mr. Zhao Zhongyao, Chief Executive Officer of TCL Multimedia said: "Despite the effects of the sluggish economic environment on the global TV market, we firmly enhanced ‘speed and efficiency’ in our operational and marketing strategies and focused on strengthening product competitiveness as well as continuously optimizing our sales channels. Therefore, we achieved balanced development in sales, scale, profitability and branding and recorded satisfactory growth in turnover. Meanwhile, we enhanced our operational capability by streamlining our product portfolio, improving our product turnover rate and enhancing our production efficiency. Our gross profit margin improved to 18.0% from 16.0% while our expense ratio decreased to 14.9% from 15.2% in the same period of last year."

HK$4,509 million

HK$2,789 million Africa Brazil Thailand

In terms of the AV business, under the influence of unfavorable factors such as the volatile global economy and the continued shrinking DVD player market, the total sales volume of AV products recorded a decline compared with the same period of last year. Nevertheless, during the period under review, the sales volume of blue ray products and electro-acoustic products increased by over 80% and 30%, respectively. The Group launched 25 new product series during the period under review. AV business maintained healthy profitable growth thanks to improved operational efficiency and effective cost control.

Looking ahead, although the operating environment of the global TV industry is still full of challenges, market demand for LCD TV products will remain strong, which driven by further urbanization in the PRC and the replacement demand of traditional CRT TVs. The Group will continue to carry out "speed and efficiency" in its operational and marketing strategies, strengthen the innovation capability in its product technology and further enhance its core competency and profitability.

In the PRC Market, the Group will leverage the "innovation of full-scale cloud technology, integration of full-scale cloud resources, orientation of the full-scale cloud market and synergy of the full-scale cloud industry" as a driving force, which will support the theme of a category with a full range of cloud products, including six series of 3D smart "cloud" TVs. In addition, the Group will focus on four major core areas – products, price, place and promotion — to carry out its "full cloud strategies" in the future and to build up core competitive advantages in the cloud age. The Group will also seize the opportunity of sales promotion for various "golden festivals and holidays" in the second quarter by launching large-scale marketing and promotional activities, in order to achieve aims of increasing its sales volume and market share at the same time.

Europe North America

In terms of its AV business, the Group will continue to strengthen its strategic partnership with existing major customers and will endeavour to expand its customer base. The Group will continue to diversify its products, boost investment in R&D to enhance the overall competitiveness of its new products and will continue to optimize its global supply chain.

Huizhou 18 January 2012 South Korea

The Group’s sales volume of TVs and AV products by regions are shown below:



(‘000 sets)

(‘000 sets)

Change

LCD TVs

3,219

1,928

+67.0%

of which:       LED backlight LCD TVs

2,022

599

+237.6%

 Smart & internet TVs

551

84

+556.0%

3D TVs

250

0.5

+49,900.0%

–      PRC

1,706

1,331

+28.2%

–      Overseas

1,513

597

+153.4%

CRT TVs

765

1,163

(34.2%)

–      PRC

86

377

(77.2%)

–      Overseas

679

786

(13.6%)

Total TV sales volume

 

3,984

3,091

+28.9%

Total AV products sales volume

 

3,368

4,403

(23.5%)

About TCL Multimedia

China http://multimedia.tcl.com

Investor & Media Inquiries

[email protected]

Jonathan Yang

Tel: + 852-2894-6391 / +852-6373-6676

Hedy Shen

Tel: +852-2894-6323 / +852-6764- 0631

SOURCE TCL Multimedia Technology Holdings Limited

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