TCL Central Financial Report: Revenue of 48.554 billion, Selling nearly 1 billion Repurchase Plan

On the evening of October 25th, TCL Central released the "2023 Third Quarter Report", which showed that in the first three quarters of 2023, TCL Central achieved a revenue of 48.654 billion yuan and a net profit attributable to the parent company of 6

On the evening of October 25th, TCL Central released the "2023 Third Quarter Report", which showed that in the first three quarters of 2023, TCL Central achieved a revenue of 48.654 billion yuan and a net profit attributable to the parent company of 6.188 billion yuan, an increase of 23.75% year-on-year; The total production capacity of crystal chips has increased by 26% compared to the beginning; The total shipment of photovoltaic silicon wafers was approximately 85.1GW, an increase of 68%.

During the same period, TCL Central announced two other significant pieces of information:

Firstly, according to the Third Quarter Report, the Middle East Abu Dhabi Investment Authority ranks as the 9th largest tradable shareholder in TCL Central with a shareholding scale of 23082610 shares in the "Top Ten Shareholders' Shareholding Situation Table";

Secondly, TCL Central announced the "Announcement on the Plan to Repurchase Company Shares" at the same time, stating that the company plans to repurchase shares with its own funds, with a total amount of RMB 500 million to 1 billion to be repurchased. This is TCL Central's second repurchase plan in 2023, and it is also its largest buyback since its listing in 2007.

Abu Dhabi Investment Authority, the "Middle East's richest man" in TCL Central, is the earliest established sovereign wealth fund in the capital market, established in 1976. At the end of 2022, the management scale of Abu Dhabi Investment Authority increased to $993 billion (over RMB 7 trillion), ranking fourth among global sovereign wealth funds and first among Middle Eastern sovereign wealth funds. The Director of Abu Dhabi Investment focuses on infrastructure related industries such as new energy, innovative drugs, biotechnology, and urban construction, and prefers a stable and progressive investment style.

On November 18, TCL Central signed the Joint Development Agreement at the "the Belt and Road" International Cooperation Summit Forum and disclosed the Progress Announcement on Cooperation with VisionIndustries Company, referring to the proposed joint venture and investment in the construction of photovoltaic crystal chip factory project in Saudi Arabia. The design capacity of the first phase of the project is 20GW.

Regarding the reasons for the repurchase, TCL Central stated that based on its confidence in the company's future development prospects and recognition of the company's value, in order to further improve the company's long-term incentive mechanism, fully mobilize the enthusiasm of the company's core backbone and outstanding employees, and jointly promote the healthy, stable, and long-term development of the company, based on the actual situation of the recent stock price trend in the secondary market of the company's stock, after fully considering the business development prospects, operating conditions, and financial situation Due to factors such as future profitability, the company has decided to use its own funds to repurchase some of the company's public shares through centralized bidding transactions, for the purpose of implementing employee stock ownership plans or equity incentives. (Quiet)