HK Stock Market Move | TCL ELECTRONICS (01070) Rises Over 5%; Acquisition of TCL Air-Conditioner Business Completes Closing; First Three Quarters Results Expected to Grow Strongly

TCL ELECTRONICS (01070) share price moved higher, rising 5.14% as of press time to HK$15.75, with turnover of HK$38.1641 million. On the news front, TCL ELECTRONICS announced last night that the major and connected transaction involving the issue of consideration shares under a specific mandate to acquire the target company owning the TCL air-conditioner business has completed closing, with all conditions precedent fulfilled and closing implemented on November 2 in accordance with the terms of the sale and purchase agreement. Following closing, the target company has become a wholly-owned subsidiary of TCL ELECTRONICS, and the target group's financial results will be consolidated into the group's financial statements. It is understood that in 2025, TCL Air-Conditioner's net profit exceeded HK$1.9 billion, with product output and sales exceeding 22 million units. TCL ELECTRONICS previously issued a positive profit alert, expecting revenue of approximately HK$91 billion to HK$97.7 billion for the first three quarters of 2026, representing year-on-year growth of approximately 10% to 18%; and adjusted net profit attributable to shareholders of approximately HK$2.11 billion to HK$2.25 billion for the first three quarters of 2026, representing year-on-year growth of approximately 45% to 55%. This was mainly driven by the dual-wheel strategy of "globalization" and "mid-to-high-end positioning," as the group continued to strengthen product competitiveness, expand global market coverage, and steadily improve operating quality, driving continuous improvement in profitability.