TCL ELECTRONICS (01070) surged more than 4% again, and as of the time of writing, the stock was up 3.74% to HK$12.75, with a turnover of HK$117 million. On the news front, on January 20, TCL ELECTRONICS and Sony signed a memorandum of strategic cooperation intent: the two parties plan to establish a joint venture that will take over Sony's home entertainment business, with TCL holding a 51% stake and Sony holding 49%. The new company will conduct integrated business operations globally, covering products such as televisions and home audio systems, spanning from product development, design, manufacturing, and sales to logistics and customer service. Galaxy Securities released a research report stating that the establishment of this joint venture will, on one hand, significantly increase TCL ELECTRONICS's revenue scale. On the other hand, drawing on Hisense's successful integration and profitability from the Toshiba TV business, the report anticipates that the joint venture will leverage TCL's global scale, supply chain, and cost advantages in TV manufacturing, while retaining Sony's "Sony" and "Bravia" brands and core technologies, which will notably enhance the joint venture's profitability.