On February 24, 2014, TCL Corporation released its 2013 annual report, stating that the company achieved a the gross annual revenue of RMB 85.32 billion, a year-on-year growth of 22.9%; and the net profit of RMB 2.89 billion ,achieving a total year-on-year growth of 126.7%. As for the company’s substantial performance growth year on year, TCL Corporation stated that the main reason is that in 2013, CSOT achieved both production and sales at its highest capacity, with the product structure and management under continuous optimization and upgrade, thereby having maintained a good level of profitability. Also, with the progress on transformation and upgrade of smart phone in TCL Communications business, the company's profitability was improved significantly due to the substantially growth sales of such mobiles.