SHENZHEN, CHINA�- EQS Newswire�- 28 November
2019 -�TCL Electronics (01070.HK, the Company) as a leading TV company in
the global market recently released its sales volume data for the first three
quarters of 2019. The growth of both overseas and domestic markets of TCL
Electronics once again exceeded the expectations of investment institutions.

In November 2019, Essence International, CICC and
First Shanghai Group have released research reports to recommend TCL
Electronics. Essence International covered the Company for the first time and
issued a "Buy" rating with a target price of HK$4.84. Moreover, CICC and First
Shanghai Group issued "Outperform" and "Buy" ratings with a target price of
HK$5.00 and HK$6.05, respectively. The frequent comments on TCL Electronics in
the research reports include high-growth in overseas markets, excellent
performance in Internet business and layout on global production capacity.

Overseas
Business is an Important Development Engine for TCL Electronics

According to First Shanghai Group, global brand TV
sales volume of TCL Electronics recorded significant growth of 21.2%
year-on-year in the first three quarters of 2019. Moreover, according to
Sigmaintell, the total TV shipment of the Company ranked No.2 globally with a
market share of 13.2%, gaining 1.1 percentage points from the same period of
last year. For the TCL brand TVs in overseas markets, the growth is obvious and
continued with an increase of 33% year-on-year for the first three quarters of
2019, among which the market share in terms of sales volume in the US rose by 3.3
percentage points to 16.5%, ranking top 2 in the US market, and the gap of
market share between TCL brand TVs and the first ranked brand has been narrowed
significantly.

In addition, TCL Electronics began growing rapidly in
Europe and emerging markets. CICC pointed out that in the first three quarters
of 2019, TV sales volume of the Company in Europe and emerging markets
increased by 24.1% and 36.5% year-on-year respectively. During the period, TV
sales in several countries maintained strong growth momentum and increased more
than 50% year-on-year, including Spain (+247%), Italy (+236%), France (+108%),
Germany (+101%), India (+191%), Argentina (+99%), Australia (+69%) and
Indonesia (+55%). From the data above, CICC is firmly positive about the
Company's future global development.

According to Essence International, market share in
terms of TV sales volume of TCL Electronics achieved No.1 in the US market in
March and July of 2019 and the Company is rapidly replicating the successful
experience of the US market to the European market and other emerging markets.
TCL Electronics has obvious advantages in overseas markets, compared to other
domestic competitors. The total TV production capacity layout in overseas of
TCL Electronics exceeds 15 million sets per year, which is sufficient to meet
its shipment demand in the North American, Indian and Russian markets.
Moreover, the Company's turnover is expected to maintain double-digit annual
growth in the next three years. Noticeably, a high dividend yield of 5% corresponding
to the current stock price is attractive in the stock market.

Sales Volume of TCL Brand TV Remained
Increasing against the Downward Trend in the PRC Market

The overall TV market in China is competitive, but in
1H19, sales volume of TVs over 65 inches of the Company has increased by 114.6%
year-on-year. With CSOT gradually increasing its production capacity of the T6
large screen, the supply capacity of 65-inch and 75-inch could be further
guaranteed, and the efficient synergy between the Company and CSOT has been
further enhanced. First Shanghai Group expected that, in the PRC market, the
Company will still have an ideal performance in the mid-to-high end product
lines such as 4K and super-large screen, which the Company has been focusing on.
First Shanghai Group also believes that the Company's differentiated
mid-to-high-end product strategy in the PRC market will help the Company
maintain profitability in the fierce market environment.

According to Essence International, TCL Electronics
has strong shareholders' background, and its display panel is mainly supplied
by CSOT of TCL Corporation. Overall, a deep integration of supply chain not
only has a great advantage of inventory cycle, but also reduces the price
fluctuation of upstream, which further enhances TCL Electronics' competitive
advantage on supply chain and cost control when compared with other peers.

As for CICC, since the Company's performance in the
PRC market in 2H2018 was in the low side, CICC expected that the Company will
improve its profit in 2H2019.

Overseas Internet Business Became the New Focus
of TCL Electronics

TCL Electronics has recently announced that it renewed
global partnership with Netflix. The cooperation with Netflix will further
scale up the Company's overseas Internet business. When the 2019 interim
results were released, TCL Electronics already announced its achievement in
overseas Internet business. With the newly generated revenue of HK$96.02
million from the overseas Internet business, the Company has become the first
Chinese enterprise in the TV industry to have large-scale and sustainable
overseas Internet business revenue.

First Shanghai Group expected that, with the market
shares of the Company in overseas markets continuously increasing and the scope
of cooperation between the Company and streaming media companies such as
Google, Roku and Netflix becoming wider and deeper, the overseas Internet
business of the Company will grow stably and continuously. Analyst from First
Shanghai Group is positive about the rapid growth of TCL brand TV in overseas
markets, and believes that the increasing overseas market shares will
accelerate the Company's Internet business development.

The overall performance of TCL Electronics in the first three quarters
not only reflects the Company's accurate market outlook, but also reflects
consumers' increasing recognition on the Company's product quality, user
experience and brand reputation.