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TCL电子控股有限公司 TCL ELECTRONICS HOLDINGS LIMITED Incorporated in the Cayman Islands with Limited Liability ( Stock code: 01070.HK ） 2026 Interim Results
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1 Overall Highlights 2 Segment Performance 3 Outlook Contents 2 Reporting currency: HK$
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1 Overall Highlights 3
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TCL Electronics Holdings Limited丨2026 Interim Results 4 54.78 63.76 2025 H1 2026 H1 Revenue +16.4% Unit: billion Notes： 1. Adjusted profit attributable to owners of the parent is defined as profit attributable to owners of the parent after adding b ack the following adjustments: (i) (gain)/loss from investment companies, net; (ii) (gain)/loss on disposal and liquidation of subsidiaries, net; (iii) (gain)/loss related to call options and put options, net; (iv) (gain)/loss on disposal of non-current assets, net; and (v) related income tax effect 2. Annualised Return on equity = Annualised adjusted profit attributable to owners of the parent ÷ Average equity attributable to owners of the parent 12.3% 16.5% 2025 H1 2026 H1 Annualised Return on Equity2 +4.2 p.p. Gross Profit/Margin 8.37 10.90 2025 H1 2026 H1 2025 H1 2026 H1 15.3% 17.1% +30.3%/+1.8 p.p. Net Profit/Margin 1.05 1.62 2025 H1 2026 H1 2025 H1 2026 H1 +54.4%/+0.6 p.p. Adjusted Profit Attributable to Owners of the Parent1/Margin 1.06 1.64 2025 H1 2026 H1 2025 H1 2026 H1 +54.3%/+0.7 p.p. 2.5% 1.9% 1.9% 2.6% Overall Highlights丨Financial Highlights Net Profit Margin Adjusted Profit Margin Attributable to Owners of the Parent Gross Profit Margin
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TCL Electronics Holdings Limited丨2026 Interim Results Overall Highlights丨Market Highlights TCL TV Data Source: 1. Omdia, 2026 H1 data 2. Circana, 2026 H1 data 3. Internal reports and Circana, 2026 H1 data 4. CMM, 2026 H1 data 5 Steady Growth in Global Brand Index First Inclusion Hang Seng Composite LargeCap & MidCap Index Hang Seng SCHK Electronics Theme Index First-Time Achievement of "Investment-Grade" Ratings from All Three Major International Rating Agencies Global Ranking by Shipment1 Global Ranking by Sales Revenue1 Global Scale Leadership Leading Growth in International Business Fastest-Growing in Market Share in U.S.2 Top 3 Retail Sales Volume Market Share Rankings in 20+ Countries Worldwide3 Outstanding Performance in High-End and Large-Screen 72.2% International Market Revenue Contribution Global Ranking by Shipment1 Baa2/ Stable BBB-/ Stable BBB-/ Stable Mini LED TV ≥ 75” TV 98”TV The PRC4 127 North America2 104 Other Key Markets3 Continue to Grow
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TCL Electronics Holdings Limited丨2026 Interim Results Overall Highlights丨Brand Highlights 6 丨 2026 World Cup National Team Sponsorships 丨New Media Marketing Precisely Reach Target Audiences CCTV · Airports · High - Speed Rail 丨World’s Premier Consumer Electronics Exhibitions Largest Exhibition Space Among Chinese Brands at CES 2026 First to Bring Winter Olympic Venues Indoors, Maximizing Brand Recognition 丨 Olympics Global Partnerships Comprehensively Boosting Global Brand Awareness Ranked No.9 in 2026, with Brand Power Increasing by 23% TCL Consistently Ranked Among Top 10 of BrandZ TM Chinese Global Brand Builders GermanySpain Argentina
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TCL Electronics Holdings Limited丨2026 Interim Results Poland Pakistan China Mexico Brazil Vietnam TV Production Capacity Regional Business Group European Business Group Middle East & Africa Business Group China Business Group Asia-Pacific Business Group North America Business Group Latin America Business Group Overall Highlights丨Production Capacity & Channel Highlights 30 million+ TV Production Capacity ✓ Global Production Capacity: Distributed localised footprint ✓ Mexico Production Capacity: Meeting U.S. demand 6 Major Business Groups ✓ Localised regional operations ✓ Strengthening local market presence Top 50 Channel Coverage 95%+ ✓ North America: Mid- to-high-end channels account for over 50% ✓ Europe: Store penetration in key channels increased to approximately 75% 7 TCL Ranked No. 12 2026 APAC Top 15 Supply Chain Ranking
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TCL Electronics Holdings Limited丨2026 Interim Results Overall Highlights丨R&D Highlights R&D Efficiency Sales & Marketing Growth Supply Chain Efficiency Enhancement Intelligent Manufacturing R&D Costs YoY +21.9% 1.41billion Products & Services：Comprehensive integrating AI applications to enhance user experience 丨Smart TV AI Interaction & Content Services Leading the Industry ✓ Proprietary AI content creation platform empowers content production, driving strong brand recognition and business performance ✓ Continuously enriching AI scenarios, among the first to receive level 3 Smart TV certification 丨SQD-Mini LED Defines Picture Quality Flagships with Industry-Leading Technology 丨OLED+ Technology Driving Breakthroughs in New Monitor Segments ✓ Superior audio-visual performance secures Mini LED TV’s ✓ global No. 1 position ✓ Defining an all-in-one premium experience for personal desktops 丨Launch of TCL AiMe Family Companion & Learning Robot ✓ Multimodal interaction & proactive companion brain; becoming children’s growth partner 丨Accelerating the Deployment of AI Capabilities Across Air Conditioning Systems ✓ Advancing in tandem toward active energy saving, comfort control, and intelligent operations & maintenance Input- Output Ratio Content Outsourcing Costs Production Capacity per Labor Hour Schedule Variance Rate Issue Resolution Rate Opportunity Conversion Efficiency Net Promoter Score (NPS) Shorter Order Response Cycle Warehousing & Logistics Cost Ratio Yield Rate Production Cycle AI + Platforms/Tools 8 ✓ Full-color spatial display + first-person multimodal large model: A “what you see is what you get” smart living experience 丨AI + AR: Pioneering a New Interaction Paradigm 丨Amby Personal AI Companion: Virtual Character Companionship + Lifestyle Tools Company Operations：AI-enabled end-to-end value chain driving comprehensive operational efficiency upgrades Load-Factor Improvement
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TCL Electronics Holdings Limited丨2026 Interim Results Overall Highlights丨ESG Highlights Wind ESG Rating (Ranked 5th out of 121 in the Industry) B grade Core Businesses Achieve CDP Highest Rating for Climate Change Management 3% Mobile Phone Business Earns EcoVadis Gold Medal Again A grade Received the Hang Seng ESG Rating for 8 Consecutive Years from 2018 to 2025 丨The Company Earns Widespread Recognition and Accolades for its Sustainability Efforts ✓ Photovoltaic business generated a cumulative 7.8 billion kWh of green electricity, enabling over 5.9 million tons of carbon emissions reductions ✓ 2,000+ new products received energy-saving and green product certifications S ✓ Completed CSR audits for 100% of newly onboarded suppliers and 100 existing suppliers ✓ Charitable donations exceeded HK$ 25 million this year G ✓ Female employees accounted for 40%, while international employees increased to approximately 30% ✓ 100% coverage of anti-corruption training for new employees Ranked Among the Top Globally in Overall Score AA grade E 9 First half of 2026：
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TCL Electronics Holdings Limited丨2026 Interim Results Overall Highlights丨Acquisition of TCL Air Conditioner 1070.HK: 1) Revenue and Profit Growth 2) “All-Category Smart Device Strategy” 3) Long-Term Value Growth 10 ▎ Benefits of the Acquisition 1. Market Opportunity · Strong Long-Term Growth Outlook for HVAC Market Size by 2030 Climate + Emerging Markets + Energy Efficiency + AI 2. Deep Synergies Globalisation/ Brand / Supply Chain Air conditioner international revenue contribution Supply chain integration, cost reduction and efficiency enhancement 3. Enhance Financial Performance· Increase Shareholder Returns Company + Shareholders RMB 5.3 trillion CAGR ~8% 4 Major Drivers >70% TCL’s global marketing resources Brand Impact 22 million sets Improved Profitability Metrics1 Alignment of Interests Valuation Revaluation TV → Full-Category Smart Devices Note: 1. Comparison of TCL Electronics’ 2025 data with the pro forma consolidated data for 2025 of the target company. Closing anticipated in Q4 2026, subject to precedent conditions. ROE 12.7% to 14.6% EPS 1.0 to 1.2 ▎ TCL Air Conditioner Highlights A leading large-scale, comprehensive professional refrigeration Company, covering residential, commercial, and portable air conditioners 33.8 billion 2025 Revenue +15.6% 1.9 billion 2025 Net Profit +40.2% 36.9% 2025 Return on Equity Industry-Leading 38million sets/year Globalised Production Capacity 10+Production Bases 70%+ International Revenue Contribution Globalisation No.2 2025 Ranking by Export Shipment Global Leader Audio-Visual and Air, Now United in One System
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2 Segment Performance 11
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TCL Electronics Holdings Limited丨2026 Interim Results 2025 H1 2026 H1 Display Business Innovative Business Internet Business 2025 H1 2026 H1 Display Business Innovative Business Internet Business Segment Performance丨Financial Data Notes： 1. Display Business: Includes TV Business, mobile phones, tablets, Smart Commercial Display Business, etc. 2. Internet Business: Refers to TV content and related operations. 3. Innovative Business: Includes the photovoltaic business, distribution of TCL-branded air conditioners, refrigerators and washing machines, as well as smart connection and smart home businesses (including routers, smart locks, security cameras, etc.). 12 63.76 54.78 +16.4% 61.0% 65.3% 36.3% 32.0% 2.7% 2.7% 10.90 70.6% 19.9% 9.5% 62.1% 28.4% 9.5% 8.37 +30.3% Unit: billion Revenue Breakdown by Business Segment Gross Profit Breakdown by Business Segment
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TCL Electronics Holdings Limited丨2026 Interim Results 41.68 YoY +24.7% Small-and Medium-Sized Display 5.81 +27.4% YoY Smart Commercial Display 0.62 +23.2% YoY Large-sized Display 35.25 +24.3% YoY Revenue Segment Performance丨Display Business Gross Profit / Margin 19.3% YoY +3.4 p.p. Gross Profit Margin by Category Large-Sized Display Small-and-Medium-Sized Display 14.2% YoY +0.5 p.p. Smart Commercial Display 12.1% YoY +0.9 p.p. 13 Both Revenue Scale and GP Margin Improved 5.20 7.69 2025 H1 2026 H1 2025 H1 2026 H1 15.6% 18.5% +48.0%/+2.9 p.p. Unit: billion Gross Profit Margin
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TCL Electronics Holdings Limited丨2026 Interim Results Data Source：1.Omdia, 2026 H1 data 2.Omdia, data from 2015 to 2026 H1 Global Market Share Further Expanded 5.6% 14.9% 4.9% 13.4% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 H1 Market Share by Sales Volume Market Share by Sales Revenue Ranking1 by Shipment Ranking1 by Sales Revenue Reached 72.2% Segment Performance丨Large-Sized Display Business（TCL TV Business） PRC Market 27.8% North American Market 18.7%European Market 15.6% Asia-Pacific / Latin America / Middle East & Africa Market 37.9% Revenue by Region Proportion International Revenue Proportion Leading Global Position Market Share2 on the Rise 14
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TCL Electronics Holdings Limited丨2026 Interim Results 15 Improvement in Product Mix Mini LED TV Shipment +77.1% Segment Performance丨Large-Sized Display Business（TCL TV Business） 2025 H1 2026 H1 PRC Market International Markets Shipment +29.1% 44.5% 55.5% 39.5% 60.5% Trend Toward Larger Screens Intensifies 2025 H1 2026 H1 PRC Market International Markets Shipment +32.5% 56.4% 43.6% 49.7% 50.3% Average Size 55.7” YoY+2.3” TCL Mini LED TV Shipment Market Share1 Firmly Hold the Global No. 1 Position Industry-Leading High-End Product Mix Data Source：1.Omdia, 2026 H1 data ^ Restated Proportion of Mini LED TV 3.1% 6.3% 10.6%1 6.2% 13.0% 17.3% 2024 2025 2026 H1 Market TCL Significantly Outperformed the Industry +14.0% ≥65” TV^ ≥75” TV^ ASP Growth 2025 H1 2026 H1 PRC Market International Markets 55.2% 44.8% 25.4% 74.6%
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TCL Electronics Holdings Limited丨2026 Interim Results Segment Performance丨Large-Sized Display Business（TCL TV Business)丨International Markets High-Quality Growth in Scale Continuous Product Mix Optimisation 16 19.63 25.44 2025 H1 2026 H1 Revenue +29.6% Unit: billion 7.7% 16.3% 2025 H1 2026 H1 Mini LED TV Shipment +139.4% + 8.6 p.p. 52.9” Average Size YoY+2.6” 2.82 4.82 2025 H1 2026 H1 +70.6%/+4.5 p.p. Gross Profit / Margin Gross Profit Margin 18.9% 14.4% Ranks Top 31 in Market Share across Over 20 Countries Internationally 33.8% +4.4 p.p. ≥ 65” TV^ 19.5% +11.9 p.p. Mini LED TV 18%+ 104 U.S. Brand Price Index2 丨North American market focus on mid-to-high-end segment, revenue up YoY +26.3% Note：Each TV segment within the product mix is calculated based on the proportion of shipment. ^ Restated 丨APAC / Latin America / Middle East & Africa localised operations, revenue up yoy +37.3% 22.4% +4.8 p.p. 11.8% +5.5 p.p. Mini LED TV 20%ASP Growth Asia-Pacific Market 38.5% Latin America Market 41.9% Middle East & Africa Market 19.6% Shipment Proportion By Region 丨European market’s penetration in key sales channel further increased, revenue up YoY +17.2% 27.1% +8.0 p.p. 27.2% +13.7 p.p. Mini LED TV Data Source：1. Except for the U.S. market, which is based on Circana’s 2026 H1 retail volume ranking data, all other markets are based on the Company’s internal retail volume ranking data of 2026 H1 2. Circana, 2026 H1 retail sales revenue data 3. Omdia, full-year 2020 and H1 2026 shipment and sales value market share data. Brand Price Index1 ＞100 in over 11 countries ASP Growth +16.5% ASP Growth ≥ 65” TV^ ≥ 65” TV^ Continuous Market Share Growth Over the Past 5 Years3 3.7% 11.0% 2.4% 9.4% 2020 2026 H1 Shipment Sales Revenue
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TCL Electronics Holdings Limited丨2026 Interim Results Mini LED TV QLED TV 18.2% 24.2% 2025 H1 2026 H1 丨Product Mix Continuous Optimisation 17 丨Performance High-Quality Growth Against Market Headwinds Data Sources：1. Omdia；2. Omni-channel data from CMM, covering TCL and FFalcon TV retail data for 2026 H1. ≥65" TV 55.4% 62.6% 2025 H1 2026 H1 ≥75" TV 36.3% 41.8% 2025 H1 2026 H1 21.0% + 7.2 p.p. Shipment +14.7% Shipment +16.8% +6.0 p.p. Shipment +34.8% ASP Growth +10.8% 8.72 9.81 2025 H1 2026 H1 Revenue +12.5% 1.69 1.98 2025 H1 2026 H1 Segment Performance丨Large-Sized Display Business（TCL TV Business）丨PRC Market Gross Profit / Margin +17.0%/+0.8 p.p. Gross Profit Margin 20.2% 19.4% Unit：billion + 5.5 p.p. 66.0” Average Size YoY+2.5 ” 2026 H1 Industry Sales Revenue1 Declined 13.2% YoY 丨Market Share2 Growth Accelerates Mini LED TV Volume Market Share 29.4% QLED TV Volume Market Share 77.7% Market Share by Volume 23.6% +1.5 p.p. Market Share by Revenue 27.1% +3.5 p.p. +6.4 p.p.+2.0 p.p. Note：Each TV segment within the product mix is calculated based on the proportion of shipment.
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TCL Electronics Holdings Limited丨2026 Interim Results Segment Performance丨Internet Business（Business related to TV Content Operation） 1.46 1.69 2025 H1 2026 H1 Revenue + more than +17 p.p. YoY Proportion Exceeded 50% YoY +74.6% + 16.1% 18 PRC Market: Focusing on Scenario Innovation and AI-Driven Business Innovation to Continuously Expand Business Boundaries AiMe AI Companion Hardware“Dongdong Companion” Enhance user engagement and retention 81 In-house AI developed copyrighted titles “Content Factory” Scaling up to drive a new revenue growth steam TCL Channel • Enhanced Content Ecosystem Live streaming | viewing time in the U.S./Brazil/France up 131% YoY, with 110+ new local channels added VOD | Viewing time in the U.S./Brazil/France up 106% YoY, with 4,400+ content titles launched • Rapid Growth in Usage Time Europe & Latin America, average daily total usage time up 95% YoY • Large User Base As of the end of June 2026, cumulative user base exceeded 53.59 million In-House AI Content Empowering TVs and Smart Hardware, with Software-Hardware Synergy Driving Monetisation 0.79 1.03 2025 H1 2026 H1 Gross Profit / Margin +30.4%/+6.7 p.p. Gross Profit Margin 61.1% 54.4% Unit: billion Strategic Alliances International Revenue International Markets: Leveraging leading global scale to partner with internet giants Monetisation through pre-installation fees + operational revenue sharing, with enhanced user experience driving rapid revenue growth
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TCL Electronics Holdings Limited丨2026 Interim Results Segment Performance丨Innovative Business丨Business Breakdown & PV Business Innovative Businesses: Steady Revenue Growth 11.14 11.39 7.84 7.95 0.90 1.03 2025 H1 2026 H1 Smart Connection & Smart Home All-Category Marketing Photovoltaic Business +2.3% +1.4% +15.5%19.88 20.37 Unit: billion +2.5% 19 Photovoltaic Business: Maintaining Relatively Asset-Light Operations in China, While Accelerating Expansion in the European Market International Markets：Branded System Solution Provider Focus on core European markets Integrated “solar - storage - heating” energy solutions SunPower: strengthening brand awareness and enhancing profitability PRC Market：Distributed Energy System Integrator ~3.3GW Newly Installed Capacity 410+ Cumulative Commercial & Industrial Contracted Projects 24 Provincial & Municipal Coverage 2,590+ Cumulative Distributors Green Electricity Solution for a Villa in Shanghai Slottsholmen on Water Energy Solutions
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TCL Electronics Holdings Limited丨2026 Interim Results Segment Performance丨Innovative Business丨Smart Glasses Shipment Market Share1 of AR Glasses Globally No.1 1 Global Cumulative Users 500,000+ 618 AR Glasses Sales Volume2 Five Year Consecutive Championship Titles JD.com + Tmall 20 Data Source：1. IDC，2026Q1； 2. JD Business Intelligence & Tmall Business Advisor, 2022–2026. RayNeo iO AI Glasses Immersive Large-Screen Viewing Glasses Stationary | On-the-Go | Stabilised AI Camera Glasses Capture with a Tap AI Smart Glasses Effortless Wear
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TCL Electronics Holdings Limited丨2026 Interim Results Product Positioning “Helping without interfering, Accompanying without disturbing” Product Highlights Gentle and science-based reminders, dancing to music, and expressive interactive eyes Biomimetic interaction, proactive following, and autonomous recharging Self-learning capabilities and emotion recognition Project Initiation June 2024 December 2024 Debut at CES January 2025 AiMe Mass Production Project Approval April 2025 Completion of AiMe Super Prototype Development December 2025 Commercial Launch August 2026 Completion of AiMe First-Generation Prototype Development Establishment of Commercialisation Framework June 2026 21 Let Children Grow Freely 、 Empower Parents with More Relaxed Parenting Not merely a tool or toy, but a family companion and intelligent assistant ® Segment Performance丨Innovative Business丨The World's First AI Companion & Parenting Robot
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3 Outlook 22
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TCL Electronics Holdings Limited丨2026 Interim Results 170 175 178 182 184 184 180 176 175 175 175 176 178 180 181 181 181 179 170 170 170 168 166 166 167 169 171 172 172 171 233 238 239 244 246 246 242 238 236 236 236 237 239 241 242 242 242 240 232 232 232 230 227 227 228 230 232 233 233 232 126 129 131 134 135 135 132 128 125 125 125 125 126 127 127 127 127 125 118 118 118 117 116 116 117 118 120 120 120 120 JAN-24 JUN-24 NOV-24 APR-25 SEP-25 FEB-26 65" UHD 75" UHD 55" UHD 27% 33% 42% 51% 61% 66% 67% 66% 72% 72% 47% 43% 34% 26% 18% 15% 11% 12% 6% 5% 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026E Chinese Mainland Taiwan, China Japan &Korea Upstream: Core pricing power in the panel industry continues to shift towards Chinese enterprises Downstream: Demand for large-sized TVs and Mini LED products continues to accelerate Industry Trend: Global market share increasingly concentrated among leading Chinese players Unit: US$ 丨Moderate Panel Price Trends1丨Rise of China's Panel Industry1 Market share continues to concentrate among Chinese enterprises, driving a gradual shift in pricing power. Demand in the downstream TV market remains relatively stable at approximately 210 million sets annually, supporting generally moderate fluctuations in panel prices. Source: 1. Sigmaintell Consulting 23 JUN-26 Future Outlook丨TV Industry Landscape
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TCL Electronics Holdings Limited丨2026 Interim Results Future Outlook丨TV Industry Landscape 丨Ongoing Upgrade in the Global TV Shipment Size Mix 20.5% 19.6% 19.3% 18.8% 19.2% 19.2% 19.6% 11.5% 13.2% 13.5% 14.5% 14.8% 15.0% 15.2% 3.0% 4.5% 6.0% 8.7% 11.2% 12.4% 12.7% 2020 2021 2022 2023 2024 2025 2026 H1 <32" 32–50" 55–60" 65–70" ≥75" 丨Expectation of High Growth in Global Mini LED TV Demand1 Unit: million sets Estimated CAGR over 22% from 2025 to 2030 The proportion of large-sized TVs continues to increase 0.9 4.7 8.9 13.2 14.8 16.2 17.2 17.8 2.0 2.3 5.2 13.0 15.0 17.3 18.9 21.2 1.4% 3.2% 6.4% 12.1% 13.9% 15.6% 16.8% 18.1% 2023 2024 2025 2026F 2027F 2028F 2029F 2030F The PRC Market Overseas Market Penetration Rate Sources: ¹ Sigmaintell Consulting ² Omdia 24 Upstream: Core pricing power in the panel industry continues to shift towards Chinese enterprises Downstream: Demand for large-sized TVs and Mini LED products continues to accelerate Industry Trend: Global market share increasingly concentrated among leading Chinese players
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TCL Electronics Holdings Limited丨2026 Interim Results 丨Changes in Global Market Share of the Top Four Brands as of H1 2026¹ 丨Global TV Shipment and Market Concentration among the Top Four Brands Continue to Increase1 221.4 222.9 225.5 213.5 203.3 201.4 208.8 208.6 207.6 46.1% 49.0% 52.2% 52.8% 53.5% 53.8% 54.6% 55.5% 55.6% 2018 2019 2020 2021 2022 2023 2024 2025 2026F Global TV Shipment Market Concentration of the Top Four Brands Samsung, 18.2% TCL, 14.9% Hisense, 12.4% LGE, 10.1% 2020 2021 2022 2023 2024 2025 2026 H1 Unit: million sets Source: ¹ Omdia. Market concentration data is based on 2026 H1. 25 Future Outlook丨TV Industry Landscape Upstream: Core pricing power in the panel industry continues to shift towards Chinese enterprises Downstream: Demand for large-sized TVs and Mini LED products continues to accelerate Industry Trend: Global market share increasingly concentrated among leading Chinese players
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TCL Electronics Holdings Limited丨2026 Interim Results 2026 RMB 3.8 trillion 2030 RMB 5.2 trillion CAGR 8.1% Significant room for further increase in market share for TCL air conditioners ＜ 10% TCL Air Conditioners’ Market Share in 20252 Global HVAC Market Size Forecast1 Extreme Weather Becoming More Frequent Extreme heat in Europe and other regions is becoming more prevalent, driving air conditioners from a “comfort product” to a “necessity”, with demand demonstrating strong resilience Significant Potential in Emerging Markets Penetration rates remain low in Southeast Asia, Latin America and Africa, providing significant room for incremental growth AI-Enabled Intelligent Transformation The AI revolution is driving the intelligent transformation of smart home ecosystems, enabling personalised air management Growing Demand for Energy Efficiency Upgrades Replacement demand is driving the iteration of high-efficiency products, delivering both economic and environmental benefits 26 Sources： 1. Global Market Insights Inc 2. All View Cloud Future Outlook丨Air Conditioner Market Potential
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TCL Electronics Holdings Limited丨2026 Interim Results 3.1% 6.3% 10.6%6.2% 13.0% 17.3% 2024 2025 2026 H1 13.4% 30.4% TCL TV No. 1 Brand Future Plan丨Strategy & Objectives Global Scale × Premium Product Portfolio × High-Profitability Businesses = Sustained Profit Growth Operating Philosophy Globalisation — Path to #1 Premiumisation — Mini LED × Large-Sized Screen ✓ International TV business revenue accounts for more than 70%, with coverage spanning more than 100 countries and markets ✓ Globalisation 3.0: From product exports → localised manufacturing + localised marketing and deeper channel development ✓ Every ≥65-inch TV represents a potential Mini LED TV ✓ Higher Mini LED TV penetration → Higher Profitability TCL Mini LED TV Proportion ≥65-inch TV Proportion 26.0% 27.4% 28.2%26.8% 30.4% 33.8% 2024 2025 2026 H1 TCL Market ✓ Global TV Sales Revenue Market Share: No. 1 Brand: ~30.4% vs. TCL: ~13.4% ✓ Significant Room for Growth Global TV Sales Revenue Market Share #2 #1 27
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TCL Electronics Holdings Limited丨2026 Interim Results Internet Business — High-Profitability Engine ✓ Next Three Years: Revenue is expected to achieve a CAGR of ~20% YoY ✓ Gross profit margin sustained 50%+ ✓ A profit multiplier on top of every TV we sell 61.1% +6.7 p.p. 2026 H1 Internet Business Gross Profit Margin 1.46 1.69 2025 H1 2026 H1 +16.1% 28 Future Plan丨Strategy & Objectives Global Scale × Premium Product Portfolio × High-Profitability Businesses = Sustained Profit Growth Operating Philosophy Unit: billion Sony JV — Milestone Strategic Partnership ✓ Mini LED ✓ Global Supply Chain Capabilities: Upstream raw material procurement Globally distributed production capacity ✓ Improved Operational Efficiency TCL 51% + Sony 49% ✓ Premium Display & Audio-Visual Technologies ✓ Global high-end TV channel network ✓ Brand Premium: Sony & BRAVIA ×
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TCL Electronics Holdings Limited丨2026 Interim Results 2025–2027 Equity Incentive Plan （Targets for adjusted net profit attributable to owners of the parent) 1.24 2.01 2.41 2.81 1.32 2.33 2.81 3.21 1.61 2.51 2024 2025 2026 2027 FY2024 and FY2025 Performance Targets Exceeded ✓ CAGR 20.1% CAGR 25.9% Target corresponding to 80% vesting Target corresponding to 100% vesting Actual achievement ✓ Exceeded 29 Future Plan丨Strategy & Objectives Global Scale × Premium Product Portfolio × High-Profitability Businesses = Sustained Profit Growth ✓ Exceeded Unit: billion
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TCL电子控股有限公司丨2026年中期业绩报告 01 Globalisation International TV Business Revenue ＞70% 02 Premiumisation Established Joint Venture with Sony* Global No. 1 in Mini LED TV Sales Volume 03 Internet Ecosystem High Profitability Core Profitability Engine 04 Alignment of Interests TV + Air Conditioners Global Smart Terminals 05 Valuation Re-rating Equity Incentive Plan Closely Aligns Management and Shareholders Interests Investment Highlights 30 • Sony holds Global No.1 Brand Price Index Source: Omdia
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TCL电子控股有限公司丨2026年中期业绩报告 31 THANKS! TCL Electronics Official Website: http://electronics.tcl.com TCL Electronics Investor Relations Email: hk.ir@tcl.com TCL Electronics Investor Relations Official WeChat Account: Disclaimer The information contained herein should not be utilised for any legal purposes with regards to any investor’s investment decision or results. In particular, this document does not constitute any recommendation or invitation for subscribing for or sale and purchase of any securities in TCL Electronics Holdings Limited (the “Company”). The Company hereby expressly disclaims any liability for any loss or damage resulting from or in connection with any reliance by any investor on the information contained herein. TCL Electronics Holdings Limited丨2025 Annual Results A number of forward-looking statements may be made from this presentation. Forward-looking statements are statements that are not historical facts. These forward-looking statements are based on the current expectations of the Company and there can be no assurance that such expectations will prove to be correct. Because forward-looking statements involve risks and uncertainties, the Company’s actual results could differ materially from these statements.