TCL Multimedia Repurchases Its Shares to Increase Shareholders Value

HONG KONG, Sept. 21, 2011 /PRNewswire-Asia/ -- TCL Multimedia Technology Holdings Limited ("TCL Multimedia" or "the Group", HKSE stock code: 01070) repurchased 1,446,000 shares and 3,000,000 shares from the market on 20 September and 21 September 2011, respectively, accounting for 0.4091% of the Group's total issued shares. Currently, the Group's net asset value per share amounts to HK$3.02, higher than the Group's closing stock price of HK$2.4 as on 21 September. The share repurchase reflects the management's confidence in TCL Multimedia’s future prospects and growth potential. Mr. Li Dongsheng, the Group's Chairman also increased his holdings in the Group a number of times recently.

Mr. Li Dongsheng, Chairman of TCL Multimedia said, "As one of the largest TV manufacturers globally and a responsible listed company, we have been dedicated to increasing shareholder value and generating returns to shareholders. Because of the volatile global economic environment, TCL Multimedia's stock price was affected recently. However, the Group has remained confident about future business prospects and will continue to create better returns for our shareholders."

In the first half of 2011, TCL Multimedia endeavored to enhance speed and efficiency. With the significant improvement of its results in the first half of the year, the Group has successfully turned its business around and recorded a net profit of HK$131 million. The Group's LCD TV sales reached 5.842 million sets for the first eight months of this year while LED backlight LCD TVs accounted for 43.3% of the Group's total LCD TV sales volume in the PRC Market in August. Upon the arrival of October, traditionally the peak season for sales, the Group believes that its business performance will be further boosted, leveraging its core competitiveness, product advantage and brand recognition.

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.

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