<div id="readability-page-1"><div><p>The board of directors of TCL Electronics Holdings Limited announced that on 20 January 2026, the Company entered into a non-legally binding memorandum of understanding with Sony Corporation in relation to, among others, the possible formation of a joint venture which would assume Sony's home entertainment business, handling the full process from product development and design to manufacturing, sales, logistics, and customer service for products including televisions and home audio equipment globally, with the Group holding 51% and Sony holding 49% of the shares of the Joint Venture, and the future licensing arrangements on patents, know-how and brand between the Joint Venture and Sony and those between the Joint Venture and the Group (collectively, the Potential Transaction). Pursuant to the MOU, Sony has agreed and undertaken that, among others, it shall not, directly or indirectly, engage in any discussion or negotiation with any third party regarding a transaction similar or equivalent to, in material respects in its scope and purpose, the Potential Transaction during the period commencing from the date of the MOU until 31 March 2026 (subject to limited exception where Sony's board of directors is required to comply with its fiduciary duties under mandatory applicable law as more specifically set out in the MOU). The parties will negotiate in good faith, aiming to finalise the terms of the definitive agreements as soon as practicably possible within the exclusivity period.</p><p>The MOU provides a framework with specific terms for the parties to negotiate in good faith, but is subject to further due diligence and signing of the definitive agreements. The MOU does not constitute or represent any legal obligation or legal commitment (including, but not limited to, any financial or commercial obligation or commitment) by either party to proceed with the Potential Transaction, save for the exclusivity provision and certain customary provisions relating to, among others, due diligence, confidentiality and public announcement, governing law and dispute resolution.</p></div></div>

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<p>TCL Electronics Holdings Limited has entered a non-legally binding memorandum of understanding with Sony Corporation to explore a joint venture for Sony's home entertainment business. The proposed joint venture would see TCL holding 51% and Sony 49% of the shares, covering product development, manufacturing, and sales of televisions and audio equipment. Sony has agreed not to engage with third parties regarding similar transactions until March 31, 2026. The MOU outlines a framework for negotiations but does not create any legal obligations beyond exclusivity and certain customary provisions.</p>

- TCL Electronics Holdings Limited has entered into a non-legally binding memorandum of understanding with Sony Corporation regarding a potential joint venture to manage Sony's home entertainment business.  
- The joint venture would involve TCL holding 51% and Sony holding 49%, encompassing aspects like product development, sales, and customer service for global products.  
- Sony has committed not to negotiate similar transactions with third parties until 31 March 2026, while the agreement permits further negotiations under specified terms, but does not create any binding legal obligations.

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TCL Electronics Holdings Limited Enters into Non-Legally Binding Memorandum of Understanding with Sony Corporation