On June 17th, Legend Holdings, the parent company of Lenovo Group, announced that it had sold 779 million shares of Lenovo Group to Lenovo Group CEO Yang Yuanqing. The individual share of Lenovo Group’s shares in the company’s issued shares increased by 8 percentage points. Prior to this transaction, Yang Yuanqing had approximately 70 million shares of equity, accounting for approximately 0.7% of the company's issued shares.
Legend Holdings stated that: As a major shareholder of Lenovo Group, Legend Holdings is very satisfied with the management of Lenovo Group and its outstanding performance under the leadership of Lenovo Group, and is confident in the continued healthy development of Lenovo Group in the future. Lenovo Holdings is willing to provide a variety of helpful help to promote the long-term development of Lenovo Group. The sale of Lenovo Group's shares aims to further increase management's sense of ownership, make management the true owner of the company, and more closely integrate with the company's interests, and bring greater and longer-term returns to shareholders.
After the transaction, Legend Holdings holds a 34.82% stake in Lenovo Group, still the single largest shareholder. Lenovo Group is still one of the core core operating assets of Legend Holdings. We will continue to provide various support for it.
Mr. Yang Yuanqing said: “The transaction itself is a personal investment act, but the decision to make this investment is based on my full confidence in the company's bright future. I am also very grateful to Liu and Lenovo for supporting me as the owner of the company. Lenovo’s culture is Based on the spirit of ownership, the decision to increase my shareholding represents my belief in these principles.As Lenovo has a strong technical and talent pool, a lofty vision and a good momentum of development, I am confident that we will continue to achieve success. Our long-term goal."
Legend Holdings stated that: As a major shareholder of Lenovo Group, Legend Holdings is very satisfied with the management of Lenovo Group and its outstanding performance under the leadership of Lenovo Group, and is confident in the continued healthy development of Lenovo Group in the future. Lenovo Holdings is willing to provide a variety of helpful help to promote the long-term development of Lenovo Group. The sale of Lenovo Group's shares aims to further increase management's sense of ownership, make management the true owner of the company, and more closely integrate with the company's interests, and bring greater and longer-term returns to shareholders.
After the transaction, Legend Holdings holds a 34.82% stake in Lenovo Group, still the single largest shareholder. Lenovo Group is still one of the core core operating assets of Legend Holdings. We will continue to provide various support for it.
Mr. Yang Yuanqing said: “The transaction itself is a personal investment act, but the decision to make this investment is based on my full confidence in the company's bright future. I am also very grateful to Liu and Lenovo for supporting me as the owner of the company. Lenovo’s culture is Based on the spirit of ownership, the decision to increase my shareholding represents my belief in these principles.As Lenovo has a strong technical and talent pool, a lofty vision and a good momentum of development, I am confident that we will continue to achieve success. Our long-term goal."
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