TCL ELECTRONICS (01070) opened sharply higher by nearly 15%. At the time of writing, the stock was up 14.97%, trading at HK$12.52, with a turnover of HK$16.4262 million.

On January 20, TCL Electronics announced the signing of a strategic cooperation memorandum of intent with Sony Corporation. The two parties plan to establish a joint venture that will take over Sony's home entertainment business, with TCL Electronics holding a 51% stake and Sony holding 49%. The joint venture will operate globally, engaging in integrated business operations for products including televisions and home audio systems, spanning from product development and design to manufacturing, sales, logistics, and customer service.

According to the announcement, the future joint venture will integrate Sony's long-accumulated advanced technology in the audio-visual field, brand value, and operational capabilities in supply chain management to drive business development. It will also fully leverage TCL Electronics' strengths in advanced display technology, global scale advantages, comprehensive industrial layout, end-to-end cost efficiency, and vertical supply chain. The joint venture will utilize the "Sony" and "BRAVIA™" brands to enhance its products, committed to creating new customer value.