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Yang Yuanqing: if we can go back to the science and technology innovation board, Lenovo will have the highest R & D investment among the listed enterprises

via:博客园     time:2021/2/4 0:01:14     readed:622

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Ma Yuanyuan, author of Tencent News

On February 3, Lenovo Group released its financial report for the third quarter of the fiscal year 20 / 21 up to December 31, 2020. Yang Yuanqing, chairman and CEO of Lenovo Group, and other senior executives were interviewed by shenzhen.com after the release of the financial report.

Yang Yuanqing explained why Lenovo chose to go back to the science and technology innovation board at this time point. Yang Yuanqing said that Lenovo has always wanted to be listed in China, but in the past, red chip companies listed overseas were not allowed to be listed in China. Last year, the policy of science and technology innovation board was liberalized, and Lenovo was regarded as the first group of red chip companies originally listed overseas to be listed in China.

Yang Yuanqing said that despite the Hong Kong stock connect, the proportion of domestic investors in Hong Kong stock investment in Lenovo is still relatively low, which indicates that Lenovo does not have enough contact with domestic investors. With the help of this listing, Lenovo can have more communication with the domestic market and consumers.

Yang Yuanqing also mentioned that if it can go back to the science and technology innovation board, Lenovo will have the highest R & D investment among all the enterprises listed on the science and technology innovation board.

As for the purpose of financing, Huang Weiming, CFO of Lenovo Group, said that the funds will mainly be invested in China's it and other new technologies to meet the development opportunities of China's new infrastructure. More detailed information will be disclosed in the subsequent prospectus,

On the process of Lenovo's application for listing on the science and technology innovation board, Huang Weiming said that Lenovo will hold a general meeting of shareholders tomorrow in accordance with the listing procedure, and it is expected that the company will be approved to apply for listing. The shareholders and directors of the company have been trained, and the sponsors are conducting internal material audit. After the material audit is completed, it will be submitted to the CSRC, and the procedures will be completed in the next few months.

On the evening of January 12, Lenovo Group announced that it planned to be listed on the science and technology innovation board. According to the announcement, the board of directors of Lenovo Group approved the initial proposal to issue China depository receipts (CDRs) and apply for the listing and trading of CDRs on the science and Technology Innovation Board of Shanghai Stock Exchange.

The next day, Lenovo Group further explained its plan for listing on the science and technology innovation board. Lenovo Group said that the CDR project Lenovo initially decided to choose CICC as the sponsor. The price will refer to the market issue price at that time. It plans to issue 10% of the share capital. According to the current price of HK $9.1, the financing amount is expected to be about RMB 10 billion. Lenovo Group will submit its application after the shareholders' meeting in February, and the listing time will be subject to the approval of Chinese regulatory authorities.

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