TCL Technology to issue AAA-rated digital economy innovation bonds

TCL Technology Group Corp. has secured a AAA credit rating from China Chengxin International Credit Rating Co. for its 2025 public issuance of technology innovation corporate bonds (digital economy) (Tranche 1), with a stable outlook. The bond issuance, not exceeding RMB 10 bn in total, will initially offer up to RMB 2 bn across two tranches: a 170-day bond (A-1) and a 3-year bond (AAA), both targeting professional investors. The proceeds will be used to repay interest-bearing debts. The company's core businesses, including semiconductor displays and new energy photovoltaics, are noted for their leading industry position and technological strength, despite facing current market challenges.

As of June 30, 2025, TCL Technology's total restricted assets amounted to RMB 100.82 m, representing 25.18% of its total assets, primarily comprising pledged fixed assets. The company holds RMB 3,300 bn in bank credit lines, with RMB 1,354 bn remaining unused, providing strong liquidity. Financial performance for the first nine months of 2025 shows total operating revenue of RMB 136.06 bn and a net profit of RMB 0.48 bn, indicating continued operational stability.