On January 13, TCL Group was renamed TCL TECH to highlight the company's strategic positioning as a "Global Leading Technology Enterprise."
TCL Group's announcement revealed that the company changed its name to TCL Technology Group Corporation and changed its securities short name to TCL TECH.
For the reason for the change of name, the announcement stated that the company has divested its smart terminals and supporting businesses, focused on the development of the technology industry, and switched from related diversification to professional operations.
The company said that it will continue to promote the industrial chain integration of the semiconductor display and materials business, and TCL TECH is more in line with the company's main business structure.
The company said that it is committed to the world's leading smart technology industry group, looking for merger and acquisition opportunities in the core, basic and high-end technology fields, and TCL TECH can accurately express the company's strategic positioning.
TCL originated from the communications and consumer electronics business. After 38 years of development, the business covers terminals and ancillary services such as televisions, mobile phones, home appliances, semiconductor displays and materials, industrial finance and investment venture capital.
In January 2019, TCL Group voted through a shareholders' meeting to complete a major asset reorganization, divested terminal and supporting businesses, and kept semiconductor display technology, materials, industrial finance, and investment businesses within the listed company system.
At present, in the latest financial report of TCL Technology, the semiconductor display and materials business accounted for 57.4% of the company's revenue and 80.6% of the company's operating profit.
"TCL Huaxing", renamed by Shenzhen China Star Optoelectronics Technology Co., Ltd (CSOT), has become a leading display panel company: Large-size display panel shipments rank third in the world, LTPS mobile phone panel shipments rank second, and AMOLED products Mass production and shipment, t6, t4 and t7 production lines have also been put into production and mass production.
In the future, TCL Huaxing will use Mini LED on TFT and 8K technology to focus on large-sized LCD high-end products, layout printed OLED technology, and at the same time make efforts on QLED technology.
