(Yicai Global) March 19 -- TCL Electronics Holdings, one of China's biggest television manufacturers, achieved record high sales of HKD45.6 billion (USD5.8 billion) last year while net profit rose by almost one-third.

Total sales of LCD TVs increased 23.1 percent, the fastest growth in five years, to 26.6 million units, the Huizhou-based firm said in a statement. Net profit attributable to the parent after deducting non-recurring items expanded 30.8 percent to HKD780 million (USD99.4 million).

The promising results were driven by the firm's efforts to optimize its product structure and make its global positioning more effective, TCL said. Smart TV sales increased 40.3 percent to 21.2 million while those of 4K sets rose 58.2 percent to 9.2 million.

The board of directors suggested a final dividend of HKD0.09 (USD0.01) per share, a full-year dividend of HKD0.19 per share, and an annual dividend payout ratio of 45 percent.

The company led China's curved TV sector with a 34.4 percent market share when excluding original design manufacturers. It ranked third for 4K TVs with a 13.2 percent share.

Steady overseas sales became a major engine for the company's growth and greatly boosted its bottom line. The firm peddled 29.5 percent more LCD TVs abroad at 18.2 million, accounting for over 60 percent of the total sold.

Users of its online services grew significantly with the total number of activated accounts hitting 32 million, and related annual revenue more than doubling to a record-high CNY310 million (USD46.2 million).

Editor: William Clegg