TCL Electronics profit soars 123% amid strong revenue growth

TCL Electronics Holdings (HKEX:1070) reported impressive 2024 results, with profit attributable to owners of the parent soaring 136.6% year-on-year to HK$1.759 billion, and profit after tax increasing by 123.6% to HK$1.849 billion. Revenue grew by 25.7% to HK$99.322 billion, driven by strong performance in the display business and innovative ventures, particularly Mini LED TVs where scale tripled, with global market share increasing to 22.5%, ranking second globally. Innovative businesses saw revenue increase by 44.9%, including a 104.4% surge in photovoltaic operations. The company proposed a final dividend of HK31.80 cents per share, reflecting a payout ratio of approximately 50% of adjusted profit. TCL is also making significant moves in global marketing and strategic partnerships, including becoming a Worldwide Olympic Partner. The company ended the year with a net gearing ratio of 0.0%, demonstrating a strong financial position and laying the foundation for future sustainable development.