TCL nearly triples TV set exports in 2003 ( 2004-01-29 09:41) (Agencies)
Major Chinese consumer electronics and
mobile-phone maker TCL Corp. nearly tripled its exports of television sets last
year, the Securities Times reported Thursday.
Citing figures provided to the newspaper by TCL Corp., the report said
exports of television sets by the company reached 3.83 million units last year,
and this year it expects to export five million sets.
A woman looks through brochures for TCL
televisions in a Beijing department store Monday, Jan. 26, 2004.
[AP]
In 2003 TCL Corp. sold 7.88 million
television sets domestically, up 17.2% on year, and expects to sell 9.4 million
sets this year.
It sold 9.67 million mobile phones, up 55.5% on year, and this year expects
to sell 11 million. It also sold 526,857 personal computers, up 40%, and expects
to sell 720,000 this year, the report said.
TCL Corp. also has a unit listed in Hong Kong, TCL International Holdings
Ltd. (1070.HK), which last year signed a deal with France's Thomson S.A. to set
up the world's largest television set production venture.
Separately, major securities newspapers reported the Shenzhen Stock
Exchange's blue-chip index, the Shenzhen 100 Index, will include TCL Corp.
The Shenzhen 100 was launched in January last year and tracks large-
capitalized, profitable and highly liquid yuan-denominated A-share companies.
TCL Corp. raised 2.51 billion yuan ($1CNY8.28) in an initial public offering
earlier this month and the shares will start trading Friday. It will be included
in the Shenzhen 100 Index from its second trading session, the report said.
Under the IPO, 590 million shares were issued to investors and 404.4 million
issued as part of a share swap for a unit of TCL Corp. which was absorbed into
the parent. That unit, TCL Communication Equipment Co. (000542.SZ), was
previously listed on the Shenzhen exchange and was part of the Shenzhen 100
Index as well.
TCL Corp.'s listing will effectively be the first on the Shenzhen exchange
since October 2000. The 994.4 million shares issued under the IPO represent
38.45% of the company's share capital.
