[一季报]TCL科技(000100):2026年第一季度报告（英文版）

 时间：2026年05月08日 18:24:25 中财网

原标题:TCL科技:2026年第一季度报告（英文版）

StockCode:000100 StockAbbr.:TCLTECH. AnnouncementNo.:2026-033 TCL科技集团股份有限公司 TCLTechnologyGroupCorporationFirstQuarter2026Report
April2026
Content
SectionIImportantNoticesandDefinitions.............................................................3
SectionIIKeyFinancialInformation........................................................................5
SectionIIIManagementDiscussionandAnalysis....................................................7SectionIVUseoftheCapitalRaised........................................................................12
SectionVShareholderInformation.........................................................................13
SectionVIQuarterlyFinancialStatements.............................................................16
SectionIImportantNoticesandDefinitions
TheBoardofDirectors(orthe"Board"),thedirectors,andseniormanagementofTCLTechnologyGroupCorporation(hereinafterreferredtoasthe"Company")herebyguaranteethatthisquarterlyreportisfactual,accurate,andcomplete,andshall be jointly and severally liable for any misrepresentations, misleadingstatements,ormaterialomissionstherein.
Mr.LiDongsheng,theperson-in-chargeoftheCompany,Ms.LiJian,theperson-in-charge of financial affairs (Chief Financial Officer), and Ms. JingChunmei,theperson-in-chargeofthefinancialdepartment,herebyguaranteethatthefinancialstatementsinthisReportarefactual,accurate,andcomplete.AlloftheCompany'sdirectorsattendedtheBoardmeetingforthereviewofthisFirstQuarter2026Report.
Thefutureplans,developmentstrategiesorotherforward-lookingstatementsmentionedinthisReportshallNOTbeconsideredaspromisesoftheCompanytoinvestors.Therefore,investorsarekindlyremindedtopayattentiontopossibleinvestmentrisks.
ThisReporthasnotbeenaudited.ThisReporthasbeenpreparedinboth
Chinese and English. Should there be any discrepancies or misunderstandingsbetweenthetwoversions,theChineseversionshallprevail.
Definitions

　ReferstoDefinition
The"Company",the"Group", "TCLTECH.",or"we"ReferstoTCLTechnologyGroupCorporation
ReportingPeriodReferstoTheperiodfromJanuary1,2026toMarch31,2026.
TCLCSOTReferstoTCLChinaStarOptoelectronicsTechnologyCo.,Ltd.
TZEReferstoTCLZhonghuanRenewableEnergyTechnologyCo.,Ltd.,amajority-owned subsidiaryoftheCompanylistedontheShenzhenStockExchange(stockcode: 002129.SZ)
ZhonghuanAdvancedReferstoZhonghuanAdvancedBandaotiTechnologyCo.,Ltd.
MokaTechnologyReferstoMokaInternationalLimited
TPCReferstoTianjin Printronics Circuit Corporation, a majority-owned subsidiary of the CompanylistedontheShenzhenStockExchange(stockcode:002134.SZ)
HighlyReferstoHighlyInformationIndustryCo.,Ltd.,aholdingsubsidiaryoftheCompany listedontheNationalEquitiesExchangeandQuotations
ChuangkePhotoelectricsReferstoHunanChuangkePhotoelectricsCo.,Ltd.
DKEReferstoDKEHoldingCompanyLimited
CSRCReferstoTheChinaSecuritiesRegulatoryCommission
SZSEReferstoShenzhenStockExchange
RMBReferstoRenminbi
SectionIIKeyFinancialInformation
(I)Keyaccountingdataandfinancialindicators
Indicatewhetherthereisanyretrospectivelyadjustedorrestateddatuminthetablebelow□Yes ?No

　Q12026Q12025Change(%)
Operatingrevenue(RMB)43,454,292,27540,075,565,8888.43%
Netprofitsattributabletothe company'sshareholders(RMB)1,556,452,5951,012,576,83653.71%
Netprofitsattributabletothe company'sshareholdersafter non-recurringgainsandlosses (RMB)1,154,847,882957,668,83220.59%
Netcashgeneratedfrom operatingactivities(RMB)11,394,756,85612,074,907,584-5.63%
Basicearningspershare (RMB/share)0.06920.054526.97%
Dilutedearningspershare (RMB/share)0.06820.053926.53%
Weightedaveragereturnon equity(%)2.47%1.91%Increasedby0.56percentage pointsYoY
　March31,2026December31,2025Change(%)
Totalassets(RMB)366,410,203,352372,738,314,312-1.70%
Equityattributableto shareholdersoftheCompany (RMB)63,684,356,23561,432,756,5243.67%
(II)Non-recurringprofitandlossitemsandamount
?Applicable□Notapplicable

ItemAmountintheReportingPeriod
Gains and losses on disposal of non-current assets (inclusive of impairmentallowancewrite-offs)43,261,132
Publicgrantschargedtocurrentgainsandlosses(exceptforpublic grantsthatarecloselyrelatedtotheCompany'sdailyoperations, comply with national policies, are granted based on determined standards,andhaveacontinuousimpactontheCompany'sgainsand losses)616,591,592
Theprofitsorlossesgeneratedfromchangesinfairvaluearising fromfinancialassetsandfinancialliabilitiesheldbynon-financial enterprises and the profits or losses from the disposal of such financial assets and financial liabilities, except for the effective hedging business related to the company's normal business operations19,423
Non-operatingincomeandexpensesotherthantheabove142,961,493
Less:Amountaffectedbyincometax99,919,613
Amountaffectedbyequityofminorityshareholders(netoftax)301,309,314
Total401,604,713
Detailsofotherprofitandlossitemsthatmeetthedefinitionofnon-recurringprofitsandlosses:□Applicable ?Notapplicable
TheCompanyhasnootherprofitandlossitemsthatmeetthedefinitionofnon-recurringprofitsandlosses.Notesonnon-recurringprofitandlossitemsthatarelistedintheExplanatoryAnnouncementNo.1onInformationDisclosurefor
CompaniesOfferingTheirSecuritiestothePublic—Non-RecurringGain/LossshallbeusedtodefineRecurringGain/Lossitems
□Applicable ?Notapplicable
TheCompanydoesnothaveanynon-recurringprofitandlossitemslistedintheExplanatoryAnnouncementNo.1onInformation
DisclosureforCompaniesOfferingTheirSecuritiestothePublic—Non-RecurringGain/Lossthataredefinedasrecurringprofit
andlossitems.
(III)Changesinkeyaccountingdataandfinancialindicatorsandreasonsforsuchchanges?Applicable□Notapplicable

BalanceSheetitemsEndingbalanceBeginningbalanceIncrease/decrease ratio(%)Reasonsforchanging
Held-for-trading financialassets25,093,411,35314,473,193,13173%Mainly due to the increase in wealth managementproducts
Othernon-current assets11,212,157,28318,311,725,167-39%Mainly due to the equity transfer completedduringtheReportingPeriod
IncomeStatement itemsCurrentbalancePriorbalanceIncrease/decrease ratio(%)Reasonsforchanging
Returnoninvestment771,371,339410,385,56488%Mainlyduetotheincreaseinshareof profitfromassociates
Gainonchangesin fairvalue364,862,412264,792,96338%Mainlyduetothechangesinfairvalue ofinvestments
CashFlowStatement itemsCurrentbalancePriorbalanceIncrease/decrease ratio(%)Reasonsforchanging
Netcashgenerated frominvesting activities-10,586,883,805-29,606,911,38864%Mainlyduetotheincreaseinproceeds fromdisinvestments
Netcashgenerated fromfinancing activities-6,786,894,32920,775,743,981-133%Mainlyduetothedecreaseinfinancing activitiesduringtheReportingPeriod
SectionIIIManagementDiscussionandAnalysis
I.OverallOperatingPerformanceoftheCompanyDuringtheReportingPeriodSincethestartoftheyear,escalatinginternationalgeopoliticalconflictsandsurgingupstreamenergypriceshavereignitedupwardpressureoninflation.Againstthisbackdrop,themomentumof global economic growth has weakened, with macroeconomic uncertainties increasingsubstantially.Inthefaceofexternalchallenges,theCompanyfocusedonthreekeybusinesspillars, including displays, new energy photovoltaics, and other silicon materials. Wecontinuouslystrengthenedtheoperationsbarrierscharacteristicofhigh-tech,heavy-asset,andlong-cycle industries, anchored our leading strategy, and pursued sustainable high-qualitydevelopment.
DuringtheReportingPeriod,theCompanyachievedoperatingrevenueofRMB43.45billion,represented a year-on-year increase of 8.4%. Net profit attributable to shareholders of theCompanyamountedtoRMB1.56billion,representedasubstantialyear-on-yearsurgeof53.7%,whileoperatingcashflowreachedRMB11.39billion.AsoftheendoftheReportingPeriod,theCompany'sdebt-to-assetratiostoodat65.0%,anincreaseof0.8percentagepointsfromtheendofthepreviousreportingperiod;cashandcashequivalentsattheendoftheReportingPeriodwereRMB20.60billion.
II.OperationsPerformanceoftheCompany'sCoreBusinessesDuringtheReportingPeriodTheCompanywasdeeplyengagedinleadingedgemanufacturingindustriescharacterizedbyhightechnology,heavyassets,andlongcycleswithdisplays,newenergyphotovoltaics,andothersiliconmaterialsatitscore,andcontinuouslypromotedtechnologicalinnovationandindustrialadvancementsupportingthestrategicgoalsofgloballeadership.
(I)DisplayBusiness
1.TCLCSOT
InQ12026,thesupply-demanddynamicsoftheglobalLCDpanelindustryimprovedremarkably.Theoverallhealthoftheindustryenhanced,anditwasenteringatrackofsounddevelopment.Onthedemandside,themarketdemandremainedresilient,supportedbyinventorystockinginpreparationfortheFIFAWorldCupandthecontinuedimplementationofChina'strade-in policy. TV panelpricesgenerallyrosethisquarter,whileprices formonitorandnotebookpanelsremainedstable.However,followingthesecondroundofpriceincreasesbysmartphonebrands,therewasariskofaphasedslowdowninend-userdemand.Onthesupplyside,theindustrymaintainedastrategyofon-demandproductionandprecisecapacitycontrol,effectivelyaligningwithmarketrhythmsandmaintainingadynamicsupply-demandbalance,layingasolidfoundationforstableoperationandsustainabledevelopment.During the Reporting Period, TCL CSOT achieved steady growth driven by itsbalancedbusinesslayout.Inthefirstquarter,itrecordedoperatingrevenueofRMB25.18billionandnetprofitofRMB1.85billion,withnetprofitattributabletoshareholdersofTCLTECH.reachedRMB1.56billion.
Inthelarge-sizeddisplayfield,TCLCSOTmaintainedaleadingglobalpositionincomprehensive competitiveness and profitability, with its status as an industry leaderfurtherconsolidated.TheCompanycontinuedtopromotehigh-endTVsolutionscenteredonHVAUltratechnology,leadingtheultra-large-sizedandhigh-endmarketswithpicturequalitythattranscendedthelimitsofhumanvisualperception.
Inthemedium-sizeddisplaysegment,thebusinessmaintainedrapidgrowth,withbothmarketshareandcorecompetitivenessenhancedsimultaneously.MNTmaintaineditsglobalNo.?2ranking,withitsmarketsharerisingby3%year-on-year;meanwhile,itse-sportsmonitorscontinuedtoholdtheworld'sNo.?1position.LeveragingitstechnologicaladvantagesinHVAandHFS,theCompanyhasbeentheofficialstrategicdisplayequipmentpartneroftheIntelMasterChallengeforthreeconsecutiveyears.Thenotebookandvehicle-mountedsegmentsalsoachievedrobustgrowth.GlobalnotebookpanelshipmentsrosetoNo.?4worldwide,whileLTPSvehicle-mountedpanelshipmentareasurgedtoNo.?1globally,markingaleapfrogbreakthrough.Inthesmall-sizeddisplaysector,theCompanyfocusedonthemid-to-high-endmarketwithcontinuouslyenhancedproductcompetitiveness.Boastinghighimagequalityandlowpowerconsumption,SuperPixeltechnologyhasbeenwidelyadoptedintheflagshipmodelsoftheworld'sleadingsmartphonebrandsonalargescale,andwasrapidlyexpandingtocoverabroaderrangeofproductlines.
Thespecializeddisplaybusinessfurtheroptimizeditsindustriallayoutthroughmergers,acquisitionsandstrategiccooperation.TCLCSOTcompletedthestrategicacquisitionofChuangke Photoelectrics, integrated superior resources, and drove integrated innovation indisplayandoptoelectronictechnologies.JoiningforceswithpartnerssuchasDKE,itadvancedthe e-paper module projects, thereby filling gaps in the medium-sized specialized displayportfolio andaccelerating thelarge-scale,standardizedapplication ofe-paperacross diversescenarios.
Intermsofcutting-edgetechnologylayout,theindustrializationprocessoftwostrategictracks—printedOLEDandMLED—advancedsteadily.
TheconstructionofGuangzhouG8.6printedOLEDproductionline(t8Project)progressedasplanned.Themainfactorybuildingisexpectedtobetoppedoutinthesecondquarter,withthemove-inofmainequipmenttocommenceinthefourthquarter.TheyieldandqualityofproductsfromtheWuhanG5.5printedOLEDproductionline(t12)continuedtoimprove.Medicaldisplayproductshavealreadyachievedstablemassproduction,andITcategoryproductswillentermassproductioninthethirdquarter.Inaddition,theCompany,inpartnershipwithaworld-leadingbrand, unveiled a rollable display concept notebook. Its 16-inch screen can be seamlesslyextendedto21.5or23.8inches,fullydemonstratingtheenormouspotentialofprintedOLEDtechnologyindrivingnext-generationdisplayformfactorinnovation.Thefull-chainlayoutofMLEDwasfurtherimproved.DuringtheReportingPeriod,theequitytransferbetweentheCompanyandFujianElectronics&Information(Group)Co.,Ltd.forFujianZhaoyuanOptoelectronicsCo.,Ltd.wascompletedsuccessfully,whichwasrenamedFuzhouHuazhaoOptoelectronicsCo.,Ltd.ThisacquisitionenablesverticalintegrationfromLEDchips to display modules, which will further accelerate the large-scale implementation andpenetrationofMini/MicroLEDinscenariossuchasultra-large-screenTVs,commercialdisplaysandintelligentvehicle-mountedcockpits.
DuringtheReportingPeriod,TCLCSOTcontinuouslyoptimizeditsglobalindustriallayoutandbuiltahighlyresilientandreliableglobalsupplychainsystem,withoverseasbusinessmaintainingsteadygrowth.OperationsattheIndianbaseforTVandvehicle-mounteddisplayshaveadvancedsteadily,withongoingimprovementsinoperatingefficiency.AttheVietnamese base, IT products have entered stable mass production and shipment, furtherenhancingoverseasdeliverycapacityandcustomerservicestandards.Lookingahead,asindustryconcentrationcontinuestoriseandthesupply-sidelandscapekeepsoptimizing,theindustry'sabilitytomaintainstableprofitabilitywillbefurtherstrengthened.As an industry leader, TCL CSOT will uphold the dual? enginestrategy of "technologicalinnovation"and"brandvalue",continuouslystrengthenitsleadingpositionintheglobaldisplayindustry,anddrivehigh? qualitydevelopmentacrossthesector.
2.MokaTechnology
MokaTechnologyspecializesintheODMbusinessforintelligentdisplayterminalproductssuch as TVs, monitors, and commercial displays, and is the world's largest TV ODMItsshipmentvolumeofTVODMbusinessremainedthetopglobally;theshipmentvolumeofmonitorODMincreasedby12%yearonyear,rankingfourthglobally.
(II)NewEnergyPhotovoltaicsBusiness
DuringtheReportingPeriod,theCompany'sphotovoltaicmaterialsbusinessfocusedonenhancingitscompetitiveedgebyaligningproductionwithactualdemand,pursuingstringentcost efficiency, and further optimizing its flexible supply chain system. It achieved costreductionsthroughtechnologicaliterationandprocessimprovement,whiletightlycontrollingmanufacturingexpensesandvariousperiodcostsbyimplementingend-to-endleanorganizationalprocesses.Byfurtherdeepeningcooperationwithstrategiccustomersandstrengtheningproductdifferentiationadvantages,theCompany'sphotovoltaicmaterialsachievedashipmentvolumeof25GW.
TheCompany'sphotovoltaiccellandmodulebusinesspursuedadualapproachoforganicgrowthandexternalacquisitionstocontinuouslyenhanceitsbusinesscapabilities.DuringtheReportingPeriod,theCompany'smoduleshipmentreached2.9GW,ayear-on-yearincreaseofover50%.TheCompanywassuccessivelyshortlistedandwonbidsforcentralizedprocurementprojectsofcentralstate-ownedenterprises,makingcertainbreakthroughsinthecentralandstate-ownedenterprisebusinesssector.Meanwhile,theCompanyactivelyseizedopportunitiesatthebottomoftheindustrycycle,promotedtheverticalextensionandhorizontalexpansionofitsindustrialchainthroughexternalacquisitions,therebyaddressingbusinessshortcomings.(III)OtherSiliconMaterialsBusiness
Inlinewithitsstrategicgoalofgloballeadership,theCompany'ssiliconmaterialsbusinessactivelyrespondedtokeyindustrialtransformationopportunities.Itconsolidatedthecompetitiveadvantages of its power products, bolstered the competitiveness foundation for high-valueproducts, and actively expanded overseas business to create differentiated competitiveness.DuringtheReportingPeriod,theproductionandsalesscaleofthesiliconmaterialsbusinesscontinuedtoexpand,achievingoperatingrevenueofRMB1.44billion,ayear-on-yearincreaseof8.5%,withalloperationalactivitiesadvancingsteadily.
(IV)Non-corebusiness
During the Reporting Period, Tianjin Printronics Circuit and Highly maintained stableoperationsacrosstheircorebusinesses,whiletheirfinancialandinvestmentsegmentscontinuedtogeneratesteadyearnings.
Facingasevereandcomplexexternalenvironment,theCompanywillembracethespiritof"ForgingAheadtoConquerNewChallenges".Byadheringtotheoperationalphilosophyof"StrategicLeadership,Innovation-Driven,AdvancedManufacturing,andGlobalOperations",theCompanywillseizethehistoricopportunitiespresentedbytheadvancementoftheleadingedgemanufacturingindustryandtransformationoftheglobalenergystructuretoachievesustainablehigh-qualitydevelopmentandmovetowardgloballeadership.
SectionIVUseoftheCapitalRaised
□Applicable ?Notapplicable
TherewasnoinstanceofutilizationofraisedcapitalduringtheReportingPeriod.SectionVShareholderInformation
(I)Tableofthetotalnumberofordinaryshareholdersandthenumberofpreferredshareholderswithresumedvotingrightsaswellastheshareholdingsofthetop10shareholdersUnit:share

Total number of ordinary shareholders by theendoftheReportingPeriod614,385Total number of preferred shareholders with resumedvotingrightsbytheendoftheReporting Period0　　　
Shareholdingsoftop10shareholdersofordinaryshares(excludingthelendingofsharesunderrefinancing)　　　　　　
NameofshareholderNatureof shareholderShareholding percentage (%)Numberof sharesheldNumberof restricted ordinary sharesheldSharesinpledge,markedor frozen　
　　　　　StatusNumber
LiDongshengDomestic individual/Domestic generallegalentity6.09%1,266,680,807674,839,553Notapplicable0
NingboJiutian LianchengEquity Investment Partnership(Limited Partnership)　　　　　　
　　　　　Inpledge153,100,000
ShenzhenMajor Industrial DevelopmentPhaseI FundCo.,Ltd.Publiclegalentity4.74%986,292,106986,292,106Notapplicable0
HongKong SecuritiesClearing CompanyLtd.Foreignlegalentity3.78%785,681,6780Notapplicable0
HuizhouInvestment HoldingCo.,Ltd.Publiclegalentity2.58%535,767,6940Notapplicable0
WuhanOpticsValley IndustrialInvestment Co.,Ltd.Publiclegalentity1.20%249,848,8960Inpledge124,000,000
PerseveranceAsset Management Partnership(Limited Partnership)-Gaoyi XiaofengNo.2 ZhixinFundFund,wealth management product,etc.0.90%188,000,0000Notapplicable0
BankofChina Limited-Huatai- PinebridgeCSI PhotovoltaicIndustry ETFFund,wealth management product,etc.0.86%179,276,2400Notapplicable0
TCLTechnology GroupCorporation- 2025Employee StockOwnership PlanFund,wealth management product,etc.0.84%174,747,9850Notapplicable0
Industrialand CommercialBankof China-Huatai- PinebridgeCSI300 ETFFund,wealth management product,etc.0.80%167,406,7260Notapplicable0
Shareholdingsoftop10non-restrictedordinaryshareholders(excludingthelendingofsharesunderrefinancingandrestrictedshares heldbyseniormanagement)　　　　　　

NameofshareholderNumberofnon-restrictedsharesheldTypeofshares　
　　TypeofsharesQuantity
HongKongSecuritiesClearingCompany Ltd.785,681,678RMB- denominated ordinary shares785,681,678
LiDongsheng591,841,254RMB- denominated ordinary shares591,841,254
NingboJiutianLianchengEquityInvestment Partnership(LimitedPartnership)　　　
HuizhouInvestmentHoldingCo.,Ltd.535,767,694RMB- denominated ordinary shares535,767,694
WuhanOpticsValleyIndustrialInvestment Co.,Ltd.249,848,896RMB- denominated ordinary shares249,848,896
PerseveranceAssetManagementPartnership (LimitedPartnership)-GaoyiXiaofengNo. 2ZhixinFund188,000,000RMB- denominated ordinary shares188,000,000
BankofChinaLimited-Huatai-Pinebridge CSIPhotovoltaicIndustryETF179,276,240RMB- denominated ordinary shares179,276,240
TCLTechnologyGroupCorporation-2025 EmployeeStockOwnershipPlan174,747,985RMB- denominated ordinary shares174,747,985
IndustrialandCommercialBankofChina- Huatai-PinebridgeCSI300ETF167,406,726RMB- denominated ordinary shares167,406,726
AbuDhabiInvestmentAuthority–Own funds166,363,472RMB- denominated ordinary shares166,363,472
Noteontheaboveshareholders'associationsorconcerted actionsAmongthetop10shareholders,Mr. Li Dongsheng andNingbo Jiutian Liancheng Equity Investment Partnership (Limited Partnership) became persons acting in concert by signing the Agreement on Concerted Action. Mr. Li Dongsheng holds 899,786,071sharesandNingboJiutianLianchengEquityInvestment Partnership (Limited Partnership) holds 366,894,736 shares, representing1,266,680,807sharesintotalandbecomingthelargest shareholderoftheCompany.　　
Explanationofthetop10ordinaryshareholdersparticipating insecuritiesmargintrading(ifany)AttheendoftheReportingPeriod,WuhanOpticsValleyIndustrial InvestmentCo.,Ltd.,amongtheshareholdersabove,heldcertain sharesoftheCompanythroughacreditsecurityaccount.　　
Note:TheshareholderlistedaboveasTCLTechnologyGroupCorporation-2025EmployeeStockOwnershipPlanrepresentsthesecuritiesaccount
fortheCompany'semployeestockownershipplan.Thesharesheldunderthisaccountaresubjecttoa12-monthlock-upperiodcommencingfrom
November6,2025,duringwhichnotradingshallbeconducted.
Participationofshareholdersholdingmorethan5%,thetop10shareholders,andthetop10non-restrictedshareholdersinthe
lendingofsharesundertherefinancingbusiness
□Applicable ?Notapplicable
Changeinthetop10shareholdersandthetop10non-restrictedshareholdersduetosecuritieslending/returningunderrefinancing
ascomparedtothepreviousperiod
□Applicable ?Notapplicable
(II)Totalnumberofpreferredshareholdersandshareholdingsofthetop10preferredshareholders□Applicable ?Notapplicable
IV.OtherSignificantEvents
?Applicable□Notapplicable
1.TheCompanyplanstoacquirethe45%equityinterestinGuangzhouChinaStarOptoelectronicsBandaotiDisplayTechnologyCo.,Ltd.heldinaggregatebyGuangdongHengjianInvestmentHoldingCo.,Ltd.,GuangzhouChengfaXingguangInvestmentPartnership(LimitedPartnership)andScienceCity(Guangzhou)InvestmentGroup,bywayofshareissuancesandcashpayments.
OnMarch30,2026,theCompanyconvenedthe21stmeetingofthe8thBoardofDirectors,atwhichitreviewedandapprovedproposalsincludingtheReport(Draft)onAssetPurchaseviaShareIssuanceandCashPaymentandRaisingofSupportingFundsofTCLTechnologyGroupCorporation.TheCompanyproposestoacquire,throughshareissuanceandcash
payment, the 45% equity interest in Guangzhou China Star Optoelectronics Bandaoti Display Technology Co., Ltd.
(correspondingtoaregisteredcapitalofRMB 7.875billion)heldbyGuangdongHengjianInvestmentHoldingCo.,Ltd.,
GuangzhouChengfaXingguangInvestmentPartnership(LimitedPartnership)andScienceCity(Guangzhou)InvestmentGroup
Co.,Ltd.,andtoraisesupportingfundsconcurrently.
TheabovematterswerereviewedandapprovedattheCompany's2025AnnualGeneralMeetingheldonApril24,2026,andtheCompanyisproceedingwiththerelevantmattersinanorderlymanner.SectionVIQuarterlyFinancialStatements
(I)Financialstatements
1.ConsolidatedBalanceSheet

ItemEndingbalanceBeginningbalance
Currentassets:　　
Cashandcashequivalents21,787,856,31330,460,060,493
Held-for-tradingfinancialassets25,093,411,35314,473,193,131
Derivativefinancialassets45,325,54978,957,405
Notesreceivable199,089,202480,225,462
Accountsreceivable20,244,993,13322,153,002,606
Receivablesfinancing284,671,277625,788,752
Prepayments2,847,204,1131,909,443,641
Otherreceivables3,283,717,4823,500,621,513
Including:Dividendsreceivable2,807,610424,441,285
Inventories20,357,706,45118,370,708,289
Contractassets385,518,416385,576,416
Held-for-saleassets　363,065,629
Non-currentassetsduewithinoneyear2,088,309,4431,564,945,242
Othercurrentassets8,475,150,0638,411,623,798
Totalcurrentassets105,092,952,795102,777,212,377
Non-currentassets:　　
Debtinvestments576,326,999578,158,579
Long-termreceivables91,207,095120,628,033
Long-termequityinvestments23,738,591,43823,349,193,104
Investmentsinotherequityinstruments176,335,401356,455,767
Othernon-currentfinancialassets3,629,853,3423,172,659,077
Investmentproperties432,939,269401,873,017
Property,Plantandequipment162,600,655,432165,003,155,646
Constructioninprogress17,930,431,67016,176,848,470
Right-of-useassets4,483,953,8146,189,174,496
Intangibleassets18,416,559,95818,467,310,369
Developmentcosts1,120,135,1051,204,955,478
Goodwill11,436,177,18111,409,749,045
Long-termdeferredexpenses2,486,902,6732,282,883,407
Deferredtaxassets2,985,023,8972,936,332,280
Othernon-currentassets11,212,157,28318,311,725,167
Totalnon-currentassets261,317,250,557269,961,101,935
Totalassets366,410,203,352372,738,314,312
Currentliabilities:　　
Short-termborrowings9,596,818,9887,552,523,460
BorrowingsfromtheCentralBank29,887,68329,756,431
Held-for-tradingfinancialliabilities254,908,868235,716,703
Derivativefinancialliabilities45,880,97350,434,753
Notespayable7,547,742,9806,465,600,185
Accountspayable33,540,699,57932,251,944,054
Advancesfromcustomers5,384,3846,823,420
Contractliabilities1,503,491,7032,009,842,277
Customerdepositsanddepositsfrom otherbanksandfinancialinstitutions233,298,530364,713,587
Employeecompensationpayable4,966,799,0074,966,488,419
Taxesandleviespayable1,245,369,9841,238,333,745
Otherpayables17,414,476,17017,715,637,558
Including:Dividendspayable13,248,74048,248,756
Held-for-saleliabilities　71,510,148
Non-currentliabilitiesduewithinone year29,829,131,87830,909,783,775
Othercurrentliabilities1,626,897,8741,662,143,866
Totalcurrentliabilities107,840,788,601105,531,252,381
Non-currentliabilities:　　
Long-termborrowings112,266,361,757116,139,349,491
Bondspayable7,984,166,6667,981,874,250
Leaseliabilities4,049,730,9564,148,597,798
Long-termpayables1,376,035,2111,388,758,641
Long-termemployeecompensation payable21,449,96221,605,303
Provisionforliabilities238,324,096231,480,076
Deferredincome2,814,040,6462,151,175,867
Deferredtaxliabilities1,657,408,5471,775,607,133
Othernon-currentliabilities17,934,50625,635,061
Totalnon-currentliabilities130,425,452,347133,864,083,620
Totalliabilities238,266,240,948239,395,336,001
Owner'sequity:　　
Sharecapital20,800,862,44720,800,862,447
Otherequityinstruments997,630,000　
Including:Perpetualbonds997,630,000　
Capitalreserves13,810,362,04214,155,724,550
Less:Treasuryshare1,499,481,8261,503,652,075
Othercomprehensiveincome-1,004,023,599-1,042,359,133
Specificreserves5,971,4385,597,597
Surplusreserves4,096,815,6204,096,815,620
Generalriskreserve8,933,5158,933,515
Retainedearnings26,467,286,59824,910,834,003
Totalequityattributabletotheownersof theparentcompany63,684,356,23561,432,756,524
Non-controllinginterests64,459,606,16971,910,221,787
Totalowners'equity128,143,962,404133,342,978,311
Totalliabilitiesandowners'equity366,410,203,352372,738,314,312
Legalrepresentative: Person-in-chargeoffinancialaffairs: Person-in-chargeofthefinancialLiDongsheng LiJian department:JingChunmei
2.ConsolidatedIncomeStatement
Unit:RMB

ItemAmountincurredinthecurrentperiodAmountincurredinthepreviousperiod
I.Totalrevenue43,477,821,23740,119,483,879
Including:Operatingrevenue43,454,292,27540,075,565,888
Interestincome23,528,96243,917,991
II.Totalcosts43,520,098,20240,034,031,513
Including:Operatingcost38,023,599,16634,770,303,229
Interestexpenditures411,1213,394,533
Taxesandlevies250,796,504235,686,109
Sellinganddistribution expenses598,068,310569,691,025
Administrativeexpenses1,126,319,3601,182,211,685
R&Dexpenses2,217,816,8952,141,488,676
Financialexpenses1,303,086,8461,131,256,256
Including:Interestexpenses969,465,7361,227,945,004
Interestincome56,212,126126,151,505
Add:Otherincome321,820,527443,667,749
Returnoninvestment(lossesare indicatedby"-")771,371,339410,385,564
Including:Returnoninvestment injointventuresandassociates515,703,922309,178,003
Exchangegains(lossesare indicatedby"-")517,03754,616
Gainonchangesinfairvalue (lossesareindicatedby"-")364,862,412264,792,963
Creditimpairmentloss(lossesare indicatedby"-")-3,523,177-12,143,461
Assetimpairmentloss(lossesare indicatedby"-")-835,062,580-776,773,537
Assetdisposalincome(lossesare indicatedby"-")42,034,563-822,549
III.Operatingprofit(lossesareindicatedby "-")619,743,156414,613,711
Add:Non-operatingincome7,092,02711,671,427
Less:Non-operatingexpenses3,201,09141,571,815
IV.Grossprofit(grosslossisindicatedby "-")623,634,092384,713,323
Less:Incometaxexpenses15,677,562177,179,324
V.Netprofits(netlossesareindicatedby"- ")607,956,530207,533,999
(I)Classifiedbycontinuityofoperations　　
1.Netprofitsfromcontinuing operations(netlossesareindicatedby"-")607,956,530207,533,999
2.Netprofitsfromdiscontinued operations(netlossesareindicatedby"-")　　
(II)Classificationbyownership　　
1.Netprofitsattributabletotheowner oftheparentcompany1,556,452,5951,012,576,836
2.Netprofitattributabletonon- controllinginterests-948,496,065-805,042,837
VI.Othercomprehensiveincome,netoftax68,858,125-84,831,631
Othercomprehensiveincomeattributable totheownersoftheparentcompany,netof tax38,335,534-113,612,587
(I)Othercomprehensiveincomethat cannotbesubsequentlyreclassifiedinto profitsorlosses-10,606,6905,892,927
1.Changesarisingfrom remeasurementofdefinedbenefitplans-7,979,968-114,396
2.Othercomprehensiveincomethat cannotbesubsequentlyreclassifiedinto profitsandlossesundertheequitymethod　5,829,012
3.Changesinfairvalueof investmentsinotherequityinstruments-2,626,722178,311
4.Changesinfairvalueofthe enterprise'sowncreditrisks　　
5.Others　　
(II)Othercomprehensiveincomethat maysubsequentlybereclassifiedinto profitsorlosses48,942,224-119,505,514
1.Othercomprehensiveincomethat canbetransferredtoprofitsandlosses undertheequitymethod229,697-107,212,356
2.Changesinfairvalueofotherdebt investments　　
3.Amountsoffinancialassets reclassifiedintoothercomprehensive income　　
4.Provisionsforcreditimpairmentof otherdebtinvestments　　
5.Reservesforcashflowhedging　-389,377
6.Conversiondifferencesinforeign currencyfinancialstatements48,712,527-11,903,781
7.Others　　
Othercomprehensiveincomeattributable tonon-controllinginterests,netoftax30,522,59128,780,956
VII.Totalcomprehensiveincome676,814,655122,702,368
Totalcomprehensiveincomeattributable totheshareholdersoftheparentcompany1,594,788,129898,964,249
Totalcomprehensiveincomeattributable tonon-controllinginterests-917,973,474-776,261,881
VIII.Earningspershare:　　
(I)Basicearningspershare0.06920.0545
(II)Dilutedearningspershare0.06820.0539
Legalrepresentative: Person-in-chargeoffinancialaffairs: Person-in-chargeofthefinancialLiDongsheng LiJian department:JingChunmei（未完）
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