Lenovo Group (0992)

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Lenovo's CEO Vows to Hit Online Sales Target - or Quit

Bloomberg News
July 20, 2017, 5:34 PM GMT+8

Lenovo Group Ltd.’s Yang Yuanqing asked for patience as he tries to get China’s top PC maker growing once more, but for the first time publicly vowed to step down as chairman and chief executive if he doesn’t deliver on a critical sales goal.

Yang, who helped grow Lenovo into the world’s largest PC maker but also orchestrated the acquisitions of Motorola and IBM’s low-end server business, is now betting big on artificial intelligence. He wants to plough $1 billion over the next three to four years into research, joining a race with much larger rivals Alibaba Group Holding Ltd. and Tencent Holdings Ltd. to crank out the next generation of intelligent, user-aware devices.

Nearer term, he intends to transform the company’s sales online into an e-commerce juggernaut that can bring in 80 billion yuan ($12 billion) of annual revenue within three years. Yang proclaimed to conference attendees on Thursday that he hoped to do so through JD.com Inc., China’s second largest online retail service and Alibaba’s closest rival.

It’s that last objective he intends to hit -- or throw in the towel.

More details in https://www.bloomberg.com/news/articles/...et-or-quit

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Chinese computer maker Lenovo Group kicked out of Hang Seng Index, again

Laura He
PUBLISHED : Friday, 04 May, 2018, 8:06pm
UPDATED : Monday, 07 May, 2018, 10:59am

Lenovo Group, a Chinese personal computer maker, will lose its status as a component of Hong Kong’s benchmark Hang Seng Index from June 4, Hang Seng Indexes Company said on Friday.

Lenovo initially joined the index in 2000, but was removed in 2006. In March 2013, it was reinstated, but its share price has plunged nearly 60 per cent since then.

At Friday’s close, shares closed 0.5 per cent higher at Lenovo at HK$3.72, giving it a market cap of HK$45 billion (US$5.73 billion) – the smallest among the benchmark’s 50 constituent stocks.

Lenovo will be replaced by Hebei-based CSPC Pharmaceutical Group as part of the index compiler’s quarterly review in March.

More details in http://www.scmp.com/business/companies/a...seng-index

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Lenovo launches flagship smartphones below US$200 for a turnaround destiny in China

Li Tao
PUBLISHED : Wednesday, 06 June, 2018, 7:03am
UPDATED : Wednesday, 06 June, 2018, 7:03am

Lenovo Group, the PC giant and phone minnow, has launched a new series of low-priced smartphones to lead the sales revival in its home market, the world’s largest and most competitive for intelligent mobile devices.

The Z5 model, which is priced from 1,299 yuan (US$200) to 1,799 yuan based on variants in memory size and storage capacity, comes in at the low end compared with the flagship model of Huawei Technologies, which sells at up to 5,000 yuan.

Tuesday’s launch in the Chinese capital city marked Lenovo’s homecoming, during a year dubbed the “rebirth” of its smartphone brand, as the company that successfully invigorated the Thinkpad laptop finds a niche for its devices amid competing model by Huawei, Oppo, Vivo and Xiaomi.

“It is a very challenging market and we are not even sure whether we can survive or not … But we are determined to reshuffle Lenovo’s smartphones into a national brand, to provide most affordable and good to use to the consumers,” said Chang Cheng, Lenovo’s smartphone segment chief in China. Lenovo announced last month that it would combine its Personal Computer and Smart Devices Group unit with its Mobile Business Group, in what the company calls its Intelligent Devices Group (IDG) to spur sales across the full spectrum of smart devices.

The Chinese company had been trying to revive its flagging smartphone business amid intense competition, four years after buying Motorola Mobility for US$2.9 billion, its biggest acquisition.

The refocus on China comes at a time when the market is already saturated with some of the planet’s most advanced and competitively priced devices, which have even eaten into the premium ends of the market traditionally enjoyed by Apple and Samsung.

More details in http://www.scmp.com/tech/china-tech/arti...nd-destiny

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Lenovo stock drops 17% after withdrawing Shanghai listing application
Reporting by Brenda Goh and Jason Xue; Editing by Christopher Cushing

October 11, 2021 12:13 PM +07

SHANGHAI, Oct 11 (Reuters) - Lenovo Group Ltd (0992.HK) saw its stock fall more than 17% on Monday, its biggest intraday decline in over a decade, after the Chinese technology giant withdrew its application for a 10 billion yuan ($1.55 billion) share listing in Shanghai.

The world's biggest personal computer maker on Friday said it would withdraw its application, days after it had been accepted by Shanghai's STAR Market.

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On Sunday, Lenovo said it had done so because of the possibility of the validity of financial information in its prospectus lapsing during the application's vetting. It did not detail reasons why the information may no longer be valid.

It also cited "relevant capital market conditions such as the latest circumstances in connection with the listing."

More details in https://www.reuters.com/technology/lenov...021-10-11/

The share closed 13.39% lower at the end of the day @ HK$7.63