半年两起百亿并购！TCL科技拟115亿收购深圳华星股权

南方都市报2025-03-04

半年内两起百亿并购，TCL科技再度斥资加码显示产业。3月3日晚间，TCL科技（000100.SZ）发布公告，拟以115.62亿元收购深圳华星半导体21.5311%的股权。公告显示，本次交易将采用“现金+股份”支付方式，其中现金对价金额为72.03亿元，发行股份支付43.59亿元。交易完成后，TCL科技在深圳华星的持股比例将进一步提升。深圳华星半导体是TCL科技旗下的重要显示面板制造企业，主要负责大...

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TCL Technology plans to acquire equity of Shenzhen Huaxing for 11.5 billion","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"561980":0.9,"000100":1},"content_text":"半年内两起百亿并购，TCL科技再度斥资加码显示产业。3月3日晚间，TCL科技（000100.SZ）发布公告，拟以115.62亿元收购深圳华星半导体21.5311%的股权。公告显示，本次交易将采用“现金+股份”支付方式，其中现金对价金额为72.03亿元，发行股份支付43.59亿元。交易完成后，TCL科技在深圳华星的持股比例将进一步提升。深圳华星半导体是TCL科技旗下的重要显示面板制造企业，主要负责大尺寸TFT-LCD面板的生产。本次收购或将是TCL科技深化半导体显示主业布局的一部分。公司在公告中表示，此举有助于优化资源配置、提升盈利能力，并进一步巩固其在全球显示产业中的市场地位。值得注意的是，这已是TCL科技半年内第二起半导体显示领域的百亿级并购。2024年9月，TCL科技曾斥资108亿元收购LGD（LG Display，乐金显示）广州液晶面板厂80%股权、模组厂100%股权。彼时，TCL创始人、董事长李东生曾表示，相关并购属于机会事件。韩国企业战略性地退出液晶显示产业，选择将资源集中到下一代显示技术，所以在双方都有需求的情况下达成了这一交易。不过，在持续扩张的同时，TCL科技的财务状况也面临考验。数据显示，截至2024年9月底，公司资产负债率达到65.31%，有息负债总额约1751亿元，而同期的货币资金仅为548.87亿元。随着两起百亿级并购相继落地，TCL科技的资金压力或进一步加大。为了降低短期现金流压力，TCL科技此次交易采用“现金+股份”支付模式，其中43.59亿元通过发行股份支付，减少现金流的直接消耗。不过，业内人士指出，股权支付也意味着一定程度的股本稀释，可能影响现有股东的权益。此外，从大环境来看，科技制造业的融资环境仍需优化，也是TCL科技的又一重挑战。日前，李东生也在接受记者采访时表示，科技制造业属于高科技、重资产、长周期行业，企业在发展过程中需要持续的资本投入，而融资环境的优化对于中国科技制造业的全球竞争力至关重要。李东生指出，在半导体显示、集成电路等领域，一个项目的投资往往超过百亿元，甚至达到数百亿元。尽管企业可通过经营现金流、股东出资以及银行贷款等方式筹集资金，但目前的权益融资额度较为紧张，难以满足项目投资的资金需求。以TCL华星为例，其每年可产生200多亿元的经营现金流，但这部分资金需用于偿还银行贷款、分红等，剩余资金有限。因此，在当前阶段，权益融资仍是科技制造企业发展的必要条件。未来如何通过产业整合实现协同效应，并在融资端保持稳健，将是公司需要应对的重要挑战。对于市场而言，TCL科技的资本运作是否能够带来长期增长，还需时间验证。文章来源：南方都市报原标题：半年两起百亿并购！TCL科技拟115亿收购深圳华星股权","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"corporation,merge","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.36.0","shortVersion":"4.36.0","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2516646820","isCrawlerRequest":true}