On the anniversary of the transition, TCL has delivered a satisfactory transcript

Absrtact: Through the transition to the intelligent Internet, 2014 net profit rose 51%, Haitong Securities forecast, the company will share the great value of the intelligent TV platform value-added service market in the future the investor newspaper reporter Shang in the last half month, the agency to 178 listed companies

Through the transition to the smart Internet, 2014 net profit growth of 51%, Haitong Securities forecast, the company will share the future of intelligent TV platform value-added services market great value

"Investor" reporter Shang

In the last half month, the organization has carried on the research to 178 listed companies, the company including the Sea Long software, TCL Group, Australian technology and so on.

Among them, the audio-visual equipment industry TCL Group received intensive research. Tcl Group received 57 institutions on March 3. Research parties include CICC and Citic Securities and other securities companies, as well as Huaxia Fund, the South Fund and other funds.

It is closely related to the development of the intelligent TV platform and the good performance of TCL after the transformation.

Smart TV has great potential for growth

March 2014, TCL chairman Li announced the launch of TCL "double +" transition strategy, to create "intelligent + Internet", "Products + services" business model.

On the anniversary of the transition, TCL has handed in a satisfactory transcript. 2014, the company realized operating income of 101.3 billion yuan, an increase of 18%, net profit of 3.1 billion yuan, an increase of 51%. 2014 years of rapid performance growth mainly due to: subsidiary huaxing photoelectric Performance Bright eye, smartphone sales growth, as well as the financial sector and venture capital business contribution to the larger profits.

But in 2014, the multimedia Electronic business with LCD LCD TV was not up to the budget target. Although the net profit of the business improved 280 million yuan Year-on-year, the income fell 16% year-on-year. Into the 2015, the multimedia business is growing, the smart TV business is progressing smoothly. Company February main product sales announcement, LCD TV products sales reached 970,000 units, an increase of 13%; domestic Intelligent Network TV sales of 265,000 units, accounting for TCL Multimedia LCD TV in the domestic sales of 68%. At the same time, the Intelligent network TV operating situation has been significantly improved, active users to grow rapidly.

Haitong Securities Forecast, the value of intelligent TV platform is expected to start in 2015 into the outbreak of growth phase, TCL will share the value of intelligent TV platform value-added services market.

At present, the company has formed a product business, service business and venture capital and investment business structure of the three major industries, from a pure industrial group to adapt to the Internet era of integrated industrial companies. However, its 2014 revenue has been more than billions of billion, the future of how to continue rapid growth, Li will face a major challenge.

A number of agencies to give positive ratings

Million statistics show that since 2015, a total of Citic Securities, Guotai and other 15 institutions to TCL Group "recommended" or "overweight" ratings, only UBS Securities company maintained a "neutral" rating.

Since the second half of 2014, the company has given TCL 7 "overweight" rating, the first 6 times after the 20th share prices rose, including a minimum of 6%, the highest rise of 30%. CITIC Research report shows that 2015 ~2017 annual earnings forecast of 0.29 yuan, 0.35 yuan and 0.39 yuan, corresponding to the P/E ratio of 18 times times, 15 times times and 13 times times, to maintain an "overweight" rating. In addition, the company has a consistent target price of 6.23 Yuan for the TCL Group, which has a 23% increase in prices compared to the March 12 closing of 5.06 yuan.