TCL

Stock Code: 000100

Stock Abbr.: TCL TECH.

Announcement No.: 2026-093

TCL科技集团股份有限公司

TCL Technology Group Corporation

Third Quarter 2026 Report

October 2026

Content

Section I Important Notices and Definitions....3

Section II Key Financial Information....5

Section III Management Discussion and Analysis....8

Section IV Shareholder Information....16

Section V Other Significant Events....18

Section VI Quarterly Financial Statements....19

Section I Important Notices and Definitions

The Board of Directors (or the “Board”), the directors, and senior management of TCL Technology Group Corporation (hereinafter referred to as the “Company”) hereby guarantee that this quarterly report is factual, accurate, and complete, and shall be jointly and severally liable for any misrepresentations, misleading statements, or material omissions therein.

Mr. Li Dongsheng, the person-in-charge of the Company, Ms. Li Jian, the person-in-charge of financial affairs (Chief Financial Officer), and Ms. Jing Chunmei, the person-in-charge of the financial department, hereby guarantee that the financial statements in this Report are factual, accurate, and complete.

All of the Company’s directors attended the Board meeting for the review of this Third Quarter 2026 Report.

The future plans, development strategies or other forward-looking statements mentioned in this Report shall NOT be considered as promises of the Company to investors. Therefore, investors are kindly reminded to pay attention to possible investment risks.

This Report has not been audited. This Report has been prepared in both Chinese and English. Should there be any discrepancies or misunderstandings between the two versions, the Chinese version shall prevail.

Definitions

Section II Key Financial Information

(I) Key accounting data and financial indicators

Indicate whether there is any retrospectively adjusted or restated datum in the table below

□Yes ☑ No

(II) Non-recurring profit and loss items and amount

☑ Applicable □Not applicable

Unit: RMB

Details of other profit and loss items that meet the definition of non-recurring profits and losses:

□Applicable ☑ Not applicable

The Company has no other profit and loss items that meet the definition of non-recurring profits and losses.

Notes on defining non-recurring profit and loss items that are listed in the Explanatory Announcement No. 1 on Information Disclosure for Companies Of ering Their Securities to the Public—Non-Recurring Gain/Loss as recurring profit and loss items

□Applicable ☑ Not applicable

The Company does not have any non-recurring profit and loss items listed in the Explanatory Announcement No. 1 on Information Disclosure for Companies Of ering Their Securities to the Public—Non-Recurring Gain/Loss that are defined as recurring profit and loss items.

(III) Changes in key accounting data and financial indicators and reasons for such changes

☑ Applicable □Not applicable

Unit: RMB

Section III Management Discussion and Analysis

I. Overall Operating Performance of the Company During the Reporting Period

Since the start of the year, escalating international geopolitical conflicts and surging upstream energy prices have reignited upward pressure on inflation. Against this backdrop, the momentum of global economic growth has weakened, with macroeconomic uncertainties increasing substantially. In the face of external challenges, the Company focused on three key business pillars, including displays, new energy photovoltaics, and other silicon materials. We continuously strengthened the operations barriers characteristic of high-tech, heavy-asset, and long-cycle industries, anchored our leading strategy, and pursued sustainable high-quality development.

In the first three quarters of 2026, the Company achieved operating revenue of RMB 138.7 billion, representing a 2.03% increase YoY. Net profit attributable to shareholders reached RMB 5.12 billion, surging 68.1% YoY, while operating cash flow totaled RMB 24.79 billion. As of the end of the Reporting Period, the Company’s debt-to-asset ratio stood at 66.6%, an increase of 2.4 percentage points from the end of the previous year, due to acquisitions of minority interests in subsidiaries, cash dividend payments and other factors; cash and cash equivalents at the end of the Reporting Period totaled RMB 14 billion.

II. Operations Performance of the Company’s Core Businesses During the Reporting Period

The Company was deeply engaged in leading edge manufacturing industries characterized by high technology, heavy assets, and long cycles with displays, new energy photovoltaics, and other silicon materials at its core, and continuously promoted technological innovation and industrial advancement supporting the strategic goals of global leadership.

(I) Display Business

1. TCL CSOT

In the first three quarters of 2026, end-market demand in the global display industry remained under pressure overall, while the product mix continued to upgrade and performance varied across application markets. Rising prices for memory and other components pushed up device costs, affecting the timing of purchases by some smartphone and notebook brands. Meanwhile, the shift toward larger TVs, the adoption of multiple in-vehicle displays, and the expansion of high-end display applications continued to support structural demand. In the third quarter, peak-season inventory stocking by TV brands and demand-based production by major panel manufacturers kept TV panel supply and demand broadly balanced. Prices for major TV panel sizes stabilized in

September following modest declines in July and August, while monitor and notebook panel prices remained generally stable. Flexible OLED smartphone panel prices remained under pressure amid cautious purchasing by brands and market competition. Rising upstream costs placed greater demands on panel manufacturers’ product mix optimization, supply chain management, and operational efficiency.

During the Reporting Period, TCL CSOT remained focused on value-oriented operation, responding to market changes through demand-based production, product mix optimization, and efficiency improvements to maintain operational resilience. In the first three quarters, it recorded operating revenue of RMB 76.73 billion and net profit of RMB 5.71 billion, with net profit attributable to shareholders of TCL TECH. reaching RMB 5.04 billion. In the third quarter, it recorded operating revenue of RMB 26.46 billion, up 5% QoQ, and net profit of RMB 1.81 billion, with net profit attributable to shareholders of TCL TECH. reaching RMB 1.75 billion. In August 2026, the Company completed the acquisition of a 45% equity interest in Guangzhou CSOT Bandaoti. Following the transaction, TCL TECH. directly and indirectly controlled 100% of its equity. From September 2026, a higher proportion of Guangzhou CSOT Bandaoti’s net profit was attributable to shareholders of TCL TECH.

The large-sized display business optimized its product mix to meet demand for larger and higher-end displays, reinforcing its earnings base. The Company leveraged the scale and efficiency advantages of its high-generation production lines, adjusted production schedules to customer orders, and strengthened coordination among production lines and cost controls to improve operational efficiency. Building on its HVA technology, the Company developed three product series: HVA Green for high energy efficiency, HVA Pro for high image quality, and HVA Ultra for innovative high-end applications. These products catered to different customer needs, enhanced product competitiveness, and strengthened the Company’s ability to withstand price and cost fluctuations.

The medium-sized display business continued to expand in the IT and automotive markets, optimizing its business mix. In the IT segment, the Company rose to second place globally in notebook panel market share in the second quarter. Notebook panel sales volume increased by 41% YoY in the first three quarters and by 7% QoQ in the third quarter, while partnerships with brand customers continued to strengthen. The Company ranked second globally in monitor panel market share. Within this segment, its gaming monitor panels have consistently ranked first globally in both shipment volume and market share since 2022. On average, one out of every three gaming monitors features a TCL CSOT panel. Leveraging HVA, HFS, printed OLED, and other technologies, the Company broadened its product portfolio for consumer and professional gaming applications to meet different customer requirements for image quality, refresh rates, and response times. The automotive display business maintained strong growth, with sales volume increasing by 45% YoY in the first three quarters and by 20% QoQ in the third quarter. By shipment area, the Company maintained its third-place global ranking in the overall automotive panel market and ranked first globally in LTPS automotive panel market share. Its business scale and customer coverage continued to expand.

The small-sized display business increased its LCD market share and drove operational improvements for its flexible OLED business. The Company’s global market share ranking in LCD smartphone panels rose from third in the first half of the year to second in the third quarter. Sales volume of flexible OLED smartphone panels recovered quarter by quarter from the second quarter. To improve operating performance, the Company increased product volumes to meet demand from key customers and a broader range of applications, while raising yields, reducing material costs, and improving its product mix. The Company led the development of an electronics industry standard for testing creases in flexible display devices using the image reflection method. The standard took effect on September 1, providing a quantitative basis for the development and quality evaluation of foldable display products.

The Company continued to commercialize printed OLED and MLED technologies and build related production capacity. At the Wuhan t12 production line, several printed OLED products were being mass-produced and shipped on a stable basis. Its 27-inch printed OLED UHD 120Hz desktop display solution won the “OLED Display Solution Gold Award” at IFA 2026. The main production building of the Guangzhou t8 project entered the Super Clean phase on September 17, with cleanroom acceptance and major equipment move-in progressing as planned. For MLED, Phase II of the Suzhou COB direct display project entered mass production in August and continued to ramp up capacity. Construction of the Shenzhen MLED project progressed as planned. Once completed, the project will strengthen coordination across the LED chip, packaging, and direct display segments of the industry chain. For Micro LED, the Company successfully lit up relevant products using its proprietary T-Pixel technology and continued to advance technology development and product validation.

Looking ahead, TCL CSOT will remain focused on value-oriented operation. It will consolidate the large-sized display business’s profitability leadership through demand-based production and cost management, increase the contribution from the medium-sized display business through product upgrades and customer expansion, and improve the small-sized display business’s operating performance through yield improvements, material cost reductions, and product mix optimization. It will also continue to advance customer validation, improve massproduction yields, and optimize costs to accelerate the commercialization of printed OLED and MLED. In emerging fields such as glass-based advanced packaging, optical communications, and perovskites, the Company will proceed in phases under its established plans. Technology validation and customer demand will guide these efforts, with investment returns also taken into account, as the Company develops long-term growth drivers.

2. Moka Technology

Moka Technology’s core business is the ODM production of intelligent display terminal products, including TVs, monitors, and commercial displays. It is a high-tech manufacturer with a global manufacturing footprint and the world’s largest TV ODM manufacturer. During the Reporting Period, Moka Technology achieved operating revenue of RMB 6.01 billion. Its TV ODM business maintained the world’s highest shipment volume, while its monitor ODM business ranked fifth globally by shipment volume. Commercial display shipments increased by 37% YoY, creating further opportunities for business growth. To support its business development, Moka Technology further strengthened its global manufacturing footprint, continued to increase R&D investment, optimized its customer mix, and advanced product upgrades to enhance its overall competitiveness.

(II) New Energy Photovoltaics Business

In the first three quarters of 2026, new domestic photovoltaic installations fell sharply following policy changes. Overseas demand maintained steady growth overall, although regional divergence intensified. The exit of excess capacity had yet to gain momentum, and the photovoltaic industry continued to face a supply-demand imbalance.

The Company’s new energy photovoltaics business continued to pursue its strategy of measured integration and global expansion, consolidating its strengths in photovoltaic materials, strengthening its capabilities in cells and modules, enhancing synergies across the industry chain, and optimizing its product and customer mix to improve operational efficiency and market competitiveness. From the beginning of the year to the end of the Reporting Period, the Company’s new energy photovoltaics business achieved sales revenue of RMB 18.61 billion. The module business accounted for 50.1% of this revenue, an increase of 3.2 percentage points from the first half of the year.

The photovoltaic materials business maintained demand-based production, continued to reduce costs and improve efficiency, and optimized its product and customer mix. During the Reporting Period, the Company’s wafer business reduced cash costs by 17.3% YoY through AI applications, supply chain optimization, and tighter controls over energy consumption and workforce productivity. Leveraging its advantages in raw materials, processes, and manufacturing, the Company increased the proportion of X- and P-series products to meet the cell and module segments’ requirements for higher efficiency and differentiated technologies. From January to September 2026, the Company shipped 83.4 GW of photovoltaic wafers, ranking first in the industry by market share. Overseas shipments accounted for 13.8% of total shipments and increased by 355% YoY.

The cell and module business continued to optimize its product and customer mix and strengthen its global operations, improving both overall competitiveness and market share. Building on its brand portfolio, including TCL Solar and SunPower, the module business refined its product mix with multi-cut cell modules, BC modules, and other products to strengthen its pricing power. It leveraged synergies across R&D, supply chains, manufacturing, and marketing to expand its reach among key domestic strategic customers and improve its ability to fulfill orders. It also pursued growth opportunities in key regional markets, including the Middle East and Africa, Southeast Asia, Europe, Australia, and New Zealand, optimizing its overseas customer and market presence to enhance its global operating capabilities. From January to September 2026, the Company’s cell and module business achieved sales volume of 14.5 GW, an increase of 43% YoY. Overseas shipments accounted for 20.6% of total shipments and increased by 202% YoY.

The acquisition of a controlling interest in DAS Solar was completed in early July. The Company immediately launched projects to upgrade 20 GW of cell capacity and 25 GW of module capacity to BC technology. These projects are expected to be completed in stages by the first quarter of 2027. Upon completion, the Company will have 20 GW of BC cell capacity and 50 GW of module capacity, comprising 25 GW of BC capacity and 25 GW of TOPCon capacity. This will create a more balanced capacity structure and further strengthen synergies across the industry chain.

(III) Other Silicon Materials Business

In the first three quarters of 2026, continued growth in AI and computing demand drove demand for logic and memory chips, while recovering demand from new energy vehicles, photovoltaic power and energy storage, and industrial control applications boosted demand for power and analog chips. Together, these trends supported a structural recovery in the industry. Demand strengthened across several downstream markets. The 12-inch wafer market benefited from growth in AI computing, high-performance computing (HPC), advanced memory, and logic chips. Demand for 8-inch wafers gradually recovered, supported by automotive-grade power devices, industrial applications, and power management chips, with AI server power supplies generating additional demand. The 6-inch wafer market saw structural improvements, with demand primarily coming from MEMS, sensors, low- and medium-power discrete devices, and small-signal analog chips. Demand remained strong for high-value-added specialty wafers, including advanced lightly doped polished wafers, heavily doped substrates, and epitaxial wafers for power devices. Supply remained structurally tight for high-end specifications, and prices entered a recovery and upward cycle.

Zhonghuan Advanced serves as the operating entity of the Company’s silicon materials business. Guided by its “Lead at Home, Compete Globally” strategy, Zhonghuan Advanced has become one of the few silicon wafer manufacturers worldwide offering a full range of wafer sizes across multiple technology platforms. It is committed to providing comprehensive product solutions to customers worldwide. Capitalizing on growth opportunities in the industry, the Company accelerated capacity upgrades and advanced product development. Its comprehensive product portfolio supported growth in business scale alongside improvements in operating performance.

The Company’s silicon materials business maintained its industry-leading position in revenue and profitability. With products spanning a full range of wafer sizes and categories, Zhonghuan Advanced was well positioned to supply products tailored to customers’ needs, meet their diverse long-term product requirements, and continue to improve its financial performance. From January to September 2026, Zhonghuan Advanced achieved operating revenue of RMB 4.9 billion, up 15% YoY, and broke even overall. Third-quarter operating revenue reached RMB 1.86 billion, up 23% YoY, with net profit of RMB 80 million, marking a quarter of profitable operations.

Zhonghuan Advanced maintained its leading domestic position in shipment volume while continuing to improve its product and customer mix. In the first three quarters, Zhonghuan Advanced shipped 1,101 MSI, up 21% YoY. Shipments of 12-inch products increased by 24% YoY, while shipments of 8-inch and smaller products increased by 18% YoY. Shipments of the Company’s wafers for memory and logic applications continued to grow rapidly, placing it among the leading domestic suppliers by market share. Specialty products for power devices and CMOS image sensors (CIS), as well as float-zone wafers, served high-value-added market segments and maintained a commanding market share lead. The Company continued to expand its overseas business, generating overseas revenue of RMB 1.14 billion in the first three quarters, up 19% YoY. Its global customer base and international supply capabilities continued to grow.

Zhonghuan Advanced will strengthen its competitive advantages through capacity expansion, technological breakthroughs, quality improvements, cost reductions, and efficiency gains. These efforts will reinforce its domestic leadership and support its ambition to become one of the world’s leading silicon wafer manufacturers. The Company will continue to increase investment in advanced technologies and processes, accelerating the R&D and validation of wafers for highend logic, high-bandwidth memory (HBM), advanced packaging, and high-end specialty processes to further strengthen its technological barriers to entry. To support market and customer development, the Company will secure orders during capacity ramp-up through long-term supply agreements (LTAs), deepen strategic partnerships with core customers, and increase its share of supply to these customers. It will also steadily advance customer qualification and adoption of advanced and high-end products.

By the end of 2026, combined 12-inch wafer capacity at the Yixing and Xuzhou sites is expected to increase to 1 million wafers per month. The Company will also accelerate construction of its 12-inch wafer factory in Shenzhen, continue upgrading 8-inch capacity at its Yixing and Tianjin sites, and ramp up supporting crystal production in Inner Mongolia to meet global customer demand. Once all five sites reach full production, the Company’s monthly capacity for 12-inch and 8-inch wafers will reach 2.1 million and 1.4 million wafers, respectively.

(IV) Non-core business

During the Reporting Period, TPC performed well, while the Company’s financial services, investment, and other businesses developed steadily.

Facing a severe and complex external environment, the Company will embrace the spirit of "Forging Ahead to Conquer New Challenges". By adhering to the operational philosophy of "Strategic Leadership, Innovation-Driven, Advanced Manufacturing, and Global Operations", the Company will seize the historic opportunities presented by the advancement of the leading edge manufacturing industry and transformation of the global energy structure to achieve sustainable high-quality development and move toward global leadership.

Section IV Shareholder Information

(I) Table of the total number of ordinary shareholders and the number of preferred shareholders with resumed voting rights as well as the shareholdings of the top 10 shareholders

Unit: share

Change in the top 10 shareholders and the top 10 non-restricted shareholders due to securities lending/returning under refinancing as compared to the previous period

(II) Total number of preferred shareholders and shareholdings of the top 10 preferred shareholders

□Applicable ☑ Not applicable

Section V Other Significant Events

☑ Applicable □Not applicable

1. Other significant events during the Reporting Period

(1) Completion of the acquisition of a 45% equity interest in Guangzhou China Star Optoelectronics Bandaoti Display Technology Co., Ltd. through share issuance and cash payment during the Reporting Period

On March 30, 2026, the Board reviewed and approved proposals including the Proposal on the Report (Draft) on Asse Purchase via Share Issuance and Cash Payment and Raising ofSupporting Funds ofTCL Technology Group Corporation and Its Summary. The Company proposes to acquire, through share issuance and cash payment, the 45% equity interest in Guangzhou China Star Optoelectronics Bandaoti Display Technology Co., Ltd. (“Guangzhou CSOT Bandaoti”) held by Guangdong Hengjian Investment Holding Co., Ltd., Guangzhou Chengfa Xingguang Investment Partnership (Limited Partnership) and Science City (Guangzhou) Investment Group Co., Ltd., and to raise supporting funds concurrently. The total transaction consideration was RMB 9,324,807,200, comprising RMB 4,662,403,600 in shares and RMB 4,662,403,600 in cash. Following the completion of the Transaction, the Company directly and indirectly controls 100% of the equity interests in Guangzhou CSOT Bandaoti.

On April 24, 2026, the Company convened the 2025 Annual General Meeting, at which the aforementioned matters were reviewed and approved.

On June 1, 2026, the Board reviewed and approved the Proposal on Canceling the Raising of Supporting Fundsfor the Asse Purchase via Share Issuance. Taking into account the interests of all shareholders and the sustained positive momentum in the Company’s operations and development, the Company decided to cancel the arrangement for raising supporting funds for the asset purchase via share issuance. The cash consideration will instead be paid from the Company’s own or self-raised funds

On July 24, 2026, the Merger and Acquisition Review Committee of the Shenzhen Stock Exchange approved the Company’s acquisition of the 45% equity interest in Guangzhou CSOT Bandaoti through share issuance and cash payment.

On August 19, 2026, the Company received the Reply on Approving the Registration of TCL Technology Group Corporation’s Asset Purchase via Share Issuance (CSRC Permit [2026] No. 2116) issued by the China Securities Regulatory Commission.

On August 21, 2026, the industrial and commercial registration for the transfer of the 45% equity interest in Guangzhou CSOT Bandaoti was completed. The 1,145,553,704 new shares issued for the transaction were listed on the Shenzhen Stock Exchange on August 31, 2026, subject to a 12-month lock-up period. The Company’s total share capital increased from 20,800,862,447 shares to 21,946,416,151 shares

Section VI Quarterly Financial Statements

(I) Financial statements

1. Consolidated Balance Sheet

Prepared by: TCL Technology Group Corporation

September 30, 2026

Unit: RMB

Person-in-charge of the financial department: Jing Chunmei

2. Consolidated Income Statement for the period from the beginning of the year to the end of the Reporting Period Unit: RMB

Person-in-charge of the financial department: Jing Chunmei

Legal representative:

Li Dongsheng

3. Consolidated Cash Flow Statement for the period from the beginning of the year to the end of the Reporting Period

Unit: RMB

(II) Adjustments to financial statement items at the beginning of the year of the first implementation of the new accounting standards, which have been implemented since 2026

□Applicable ☑ Not applicable

(III) Auditor's Report

Whether the Third Quarter Financial Report has been audited or not? □Yes ☑ No The Company's Third Quarter Financial Report has not yet been audited.

TCL Technology Group Corporation Board of Directors October 30, 2026