Yesterday, TCL announced annual reports of 2012. The reports showed that its revenues in last year were 69,306,000,000, increasing by 14.46% year-on-year and net profits were 796,000,000, decreasing by 21.4% year on year. TCL net profits' decrease was due to mobile phone business and reduction of government subsidies.
The reports showed that TCL's several main business segments' net profits decreased last year.
It's worth mentioning that HuaXing photoelectric LCD panel project on which TCL spent 24,500,000,000 had a profit of 315,000,000. However, reporters found that the project received government subsidies more than 400,000,000 yuan and it had a deficit in fact.
Written by Nicolas Yang
Source:
