Changes in Hong Kong stocks | TCL Electronics (01070) rose more than 4%. TCL's air conditioning business is growing at a high rate, and profitable asset acquisition progress exceeds market expectations

The Zhitong Finance App learned that TCL Electronics (01070) rose by more than 4%. As of press release, it had risen 4.48% to HK$15.38, with a turnover of HK$808.707 million.

According to the news, TCL Electronics recently announced that it plans to acquire 51% of TCL Air Conditioning's shares at a consideration of HK$5.61 billion, and the settlement is expected to be completed in the fourth quarter. Huaan Securities said that the progress of the acquisition of TCL's air conditioning business exceeded market expectations. The bank pointed out that TCL's air conditioning business is a high-growth and profitable asset. For the company, the acquisition of TCL Air Conditioning is an injection of high-growth and profitable assets at low cost, which is conducive to increasing the company's revenue and profit.

China Merchants Securities said that the company plans to acquire 51% of TCL Air Conditioning's shares, which is the second time in the year since reaching a strategic cooperation with Sony. Combined, performance continues to exceed expectations and the AI innovation business Thunderbird continues to lead the industry; long-term global high-end TV market share continues to rise, panel integration and global production capacity layout build core barriers, and reaffirms the “Highly Recommended” investment rating.