Continued to Improve Operating Efficiency and Profitability
HONG KONG, Sept. 26, 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 management accounts for the three months and nine months ended 30 September 2011, profit attributable to its shareholders during the period is expected to record a turnaround from the net loss a year ago.
In the first half of 2011, the Group continued to execute its operating and marketing strategies with speed and efficiency. In response to changes in the market, the Group adjusted its product-mix, enhanced its promotional efforts and actively strengthened sales channels, together with the continuous improvement in inventory management, thereby enhancing its product competitiveness and profitability. As a result, the Group successfully achieved a turnaround and recorded a net profit of HK$131 million.
In terms of sales and marketing, the Group's LCD TV sales reached 5.842 million sets for the first eight months this year while LED backlight LCD TV accounted for 43.3% of the Group's total LCD TV sales volume in the PRC Market in August, maintaining the Group's growth momentum and market leading position. Meanwhile, the Group remains optimistic about the future prospect of its TV business, and has thus raised the annual sales target of LCD TV for this year from 8.5 million sets to 9.6 million sets.
In spite of the unstable global economic environment recently, the Group repurchased its shares for a few times in September to increase shareholder value. Mr. Li Dongsheng, the Group's Chairman also increased his holdings in the Group a number of times, showing the management's confidence in the Group's future prospects.
Relevant information is provided based on the preliminary review of the Group's unaudited consolidated results for the three months and nine months ended 30 September 2011. The Group is due to announce its unaudited consolidated results for the three months and nine months ended 30 September 2011 in October 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. For more information, please visit our website at http://multimedia.tcl.com.
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 |
Hedy Shen Tel: +852-2894-6323 / 6764-0631 |
