Display maker TCL Electronics Holdings Ltd. (1070.HK) said on Monday it expects to report revenue of HK$91 billion ($11.6 billion) to HK$97.7 billion for the first nine months of this year, up 10% to 18% year-on-year. The company expects to report a profit between HK$2.11 billion and HK$2.25 billion for the period, up 45% to 55%.
TCL said its focus on globalization and mid- to high-end products has allowed it to sharpen its competitiveness and expand its global footprint. It added that steady improvement in its operating quality has driven sustained profit growth, pointing to further optimization in its product mix that has helped to cement its leading position globally.
The company said its internet business also improved in both revenue scale and profitability, while its innovative businesses maintained solid growth.
Shares of TCL Electronics opened lower on Tuesday, but later reversed course and were up 5.8% at the midday break. The stock is up over 90% from its 52-week low.
By Lau Chi Hang
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