HK Stock Market Move | TCL ELECTRONICS (01070) rose more than 11% in early trading, showing significantly better business performance than the industry average in the first half of the year. It is expected to achieve even higher quality growth in the second half of the year.

TCL ELECTRONICS (01070) rose more than 11% in the morning session, rising 8.14% at the time of publication, to HK$5.05, with a turnover of HK$180.114 million. Regarding the news, TCL Electronics recently released its interim performance. In the first half of the year, the company achieved operating income of HK$45.494 billion, an increase of 30.3% year-on-year, and a net profit attributable to shareholders of HK$650 million, an increase of 146.5% year-on-year. Northeast pointed out that in the first half of the year, the company's TV shipments reached 12.52 million units, an increase of 9.2% year-on-year, with revenue increasing by 23.2% to HK$25.914 billion year-on-year, significantly outperforming the industry average in terms of volume and revenue. The latest report from Omida shows that TCL TV's global shipment market share reached 13.3%, an increase of 0.9 percentage points year-on-year, ranking second globally. The global shipments of TCL's high-end products Quantum Dot TV and Mini LED TV increased by 64.4% and 122.4% year-on-year respectively, with Mini LED TV maintaining a leading position globally. In the first half of 2024, the company's small and medium-sized display business increased by 10.7% year-on-year to HK$3.761 billion, with a gross profit margin increasing by 0.4 percentage points to 16.7%. Northeast pointed out that in the second half of the year, with the arrival of the "Black Friday Promotion Season" in the U.S. market and the implementation of China's "large-scale equipment renewal and consumer goods trade-in policy with old for new" policy worth 300 billion, the company's display business is expected to achieve higher quality growth.