TCL Corporation (000100) posted a 134.24 percent year-on-year surge in 2011 net profit to 1.01 billion yuan on a 17.28 percent increase in revenue to 60.83 billion yuan, reports Shanghai Securities News, citing a company filing.

The company announced cash dividends of 0.5 yuan (including tax) for every 10 shares held.

TCL Corporation became the first Chinese company to sell more than 10 million LCD TVs when it sold 10.86 million LCD TVs in 2011, a 45.5 percent increase from 2010.

The company generated sales of 27.25 billion yuan from its multi-media business, accounting for 45.84 percent of total revenue.

Revenue from its telecoms business rose 14.83 percent year-on-year to 8.81 billion yuan, while that of its home appliance business increased 59.99 percent to 6.50 billion yuan.

The company's Huaxing 8.5 generation LED panel project achieved the target of producing 18,000 panels per month by the end of 2011.

According to TCL Corporation, the Huaxing 8.5 generation LED panel project is expected to produce 100,000 panels per month by the end of 2012.

The last time the company distributed cash dividends was in 2005, according to the report.