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TCL Technology Group Corporation (S
No corporate parent โ TCL Technology has no single majority owner and this dossier's own README convention treats <50% CSRC-style 'largest shareholder' as distinct from a controlling parent. GLEIF has no LEI record for the SZSE-listed entity itself (searched 'TCL Technology Group Corporation', 'TCL Technology', 'TCL'; only found unrelated/subsidiary entities โ e.g. TCL Technology Investments Limited, HK, LAPSED status, no relationship to the SZSE parent confirmed) โ not usable, fell back to manual research. Li Dongsheng and Ningbo Jiutian Liancheng (an investment vehicle in which Li holds a 70.21% stake) signed a ไธ่ด่กๅจๅ่ฎฎ (acting-in-concert agreement) and together are the company's largest shareholder group and its actual controller (ๅฎ้ ๆงๅถไบบ) per company/press disclosure, combining Li's direct ~899.8m shares + Jiutian Liancheng's ~366.9m shares (~1.267bn shares total). Exact current combined percentage is not pinned to a single primary-source figure this tick โ secondary aggregators disagree on the precise number (approx. 7% of total share capital, vs. a separate ranking showing TCL Corporation Investment Co., Ltd. โ a different, non-controlling institutional holder โ at 6.09%) and neither cites the annual report table directly; the >=1.2bn-share concert-party position and 'actual controller' status are the well-corroborated facts, the precise stake_pct above is an approximation pending a direct read of the FY2025 top-10-shareholder table. Remaining float (>85%) is dispersed institutional/retail โ no other holder approaches a controlling stake.
Named counterparties identified by open-source research and written only where a primary source states the relationship โ never inferred from sector or co-mention. 2 suppliers, 2 customer-side. This is a partial view: it covers the relationships we could evidence, not the company's full supply base.
Resolved from the coded 'Customer A' slot (23,090,793,448 ๅ , 12.55% of FY2025 sales) via exact RMB-amount match to the ๅ ณ่ๆนๅ ณ็ณปๅๅ ถไบคๆ note's '้ๅฎๅๆๆๅไบงๆๅ' line for TCLๅฎไธๆง่ก่กไปฝๆ้ๅ ฌๅธๅๅ ถๅญๅ ฌๅธ (23,090,794 ๅๅ ) โ group's own consumer-electronics/TV holding company (parent of the separately-listed TCL Electronics, HK:1070) buying CSOT display panels from this dossier's subject, a vertically-integrated related-party sale. FY2024 comparative in the same note: 21,401,268 ๅๅ โ not converted to a %, since FY2024's own top-5 customer table (a different filing) was not pulled this tick, so no FY2024 revenue base is confirmed for a joinable share_of.
Largest named related-party supplier in the FY2025 '้่ดญๅๆๆๅไบงๆๅ' note: RMB 3,439,574 ๅๅ (FY2024: 3,289,267 ๅๅ ), an ่่ฅๅ ฌๅธ (associate). ่พๆฐๆญ is AGC Inc.'s (Asahi Glass, Tokyo: 5201) current Chinese trade name; entity supplies display-panel glass substrate โ direct material link to this dossier's semiconductor-display segment. Route: the supplying entity is AGC's Shenzhen (CN) glass plant, selling to TCL CSOT's Chinese panel fabs โ domestic China, not a Japan-to-China shipment. No share_pct: this is a below-top5 related-party line from the transaction note, not part of the anonymized 18.02% top-5 supplier aggregate.
Second-largest named related-party supplier in the same note: RMB 2,283,472 ๅๅ (FY2024: 1,205,811 ๅๅ , nearly doubled YoY), an ่่ฅๅ ฌๅธ (associate) โ direct material link to this dossier's silicon exposure via the TCL Zhonghuan wafer/ingot business (Inner Mongolia is TCL Zhonghuan's primary production base). No share_pct, same below-top5 caveat as the AGC row.
FY2024-only related-party sales line in the FY2025 annual report's comparative column: RMB 913,689 ๅๅ , dropping to zero in FY2025 (relationship apparently lapsed or was reclassified during the year โ not explained in the filing). Maxeon (former SunPower solar-module spinoff) is a globally-known Western solar manufacturer; a related-party PV-materials sale from TCL Zhonghuan is the direct material link (silicon). No share_pct/share_of: RMB amount only, not disclosed as a % of any total.
Scope. Absence of a counterparty here is not evidence that none exists โ most commercial sourcing is confidential and never becomes public. Rows without a share figure mean no share was disclosed, not that the relationship is small.
Every exposure is read as a buyer dependency; the top 3 are its binding chokepoints.
As a buyer, policy pressure across its consumed materials is flat.
Descriptive trend in official policy actions on this companyโs materials โ a policy-pressure trend, not a price or trading signal. No forward probability is implied. Direction is measured on actions we have discovered, and discovery lags events: where the recent window is too thin to support a calm reading, the row says coverage-limited instead of easing.
No actions in the register have named or swept this company in the last 24 months.