omniture

TCL Multimedia Expects to Record Net Profit in 1H 2011

TCL Multimedia Technology Holdings Limited
2011-07-07 22:16 1297

Greatly Improved Operating Efficiency

HONG KONG, July 7, 2011 /PRNewswire-Asia/ -- TCL Multimedia Technology Holdings Limited ("TCL Multimedia" or "the Group", HKSE stock code: 01070) is pleased to announce that based on its preliminary review of the unaudited consolidated results for the six months ended 30 June 2011, the Group's profit attributable to its shareholders during the period is expected to record a turnaround from the net loss a year ago due to the significant improvement in the Group's operating efficiency.

The Group's results have improved significantly in the first quarter of 2011 when compared to the previous few quarters. Operating profit and profit attributable to shareholders of its parent company reached HK$145 million and HK$34 million, respectively. During the period under review, the Group continued to execute its operating and marketing strategies with speed and efficiency while strengthening its sales channels and broadening its customer base, all in an effort to enhance operating efficiency and market competitiveness.

In terms of sales and marketing, the Group has proactively developed flagship products and launched a series of new products, including the world's first Super Smart Internet TV, which employs advanced 3D User Interface technology. The Group is dedicated to its strategy of transitioning into high-end TV products through independent innovation and research and development, in order to increase its sales volume and market shares. In the first five months of 2011, the Group's LCD TV sales volume grew 13.2% year-on-year to 3,274,000 sets. Its sales volume in April and May rose 40.5% and 39.4% year-on-year, respectively, maintaining the Group's growth momentum and leading market position.

Mr. Li Dongsheng, Chairman of TCL Multimedia said, "The Group is expected to record a turnaround on the profit attributable to its shareholders in the first half of 2011, positively reflecting the speedy and efficient execution of its on-track operating and marketing strategies, as well as its development strategies, which focus on 'Integration, Innovation and Internationalization'. With the further integration of our upstream and downstream industry chains and production, we are confident about the Group's future prospects while dedicated to creating promising returns for our shareholders."

Relevant information is provided based on the preliminary review of the Group's unaudited consolidated results for the six months ended 30 June 2011. The Group is due to announce its unaudited consolidated results for the six months ended 30 June 2011 on 8 August 2011.

About TCL Multimedia

TCL Multimedia Technology Holdings Limited is one of the largest TV manufacturers globally and its products are sold all over the world. Headquartered in China, TCL Multimedia operates its manufacturing plants and R&D centres across all major continents. The Group's largest shareholder is TCL Corporation.

Investor & Media Inquiries

For further enquiries, please contact Hill & Knowlton Asia Ltd:

Email: tclmultimedia@hillandknowlton.com.hk

Gary Li
Tel:(852) 2894 6239 / 9652 9002
Jonathan Yang
Tel:(852) 2894 6391 / 6373 6676
Source: TCL Multimedia Technology Holdings Limited
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