Home appliance maker TCL reports rises in both revenue, net profit

SHENZHEN - China's leading home appliance manufacturer TCL Corp's revenue rose 15.5 percent to 29.6 billion yuan ($4.42 billion) in the first quarter of 2019.

In its business report published Tuesday night, the corporation's net profits attributable to its shareholders were up 6.6 percent to 779 million yuan in the first quarter.

The corporation invested 1.58 billion yuan on research and development in the first quarter, an increase of 60.5 percent compared with the same period last year, according to the report.

Its display panel subsidiary Shenzhen China Star Optoelectronics Technology Co Ltd (CSOT) generated 7.25 billion yuan in revenue, increasing by 12.1 percent year-on-year.

TCL saw its revenue rise 1.6 percent year-on-year to 113.36 billion yuan in 2018.