Beijing watchdog asks Lenovo Parent Legend to sort out financial data

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(Yicai Global) April 14 – The Beijing branch of China’s securities regulator has ordered Legend Holdings, the parent company of the world’s largest personal computer maker Lenovo Group, to correct erroneous financial data and report.

Legend failed to disclose certain units’ equity pledges in a timely manner and reported inaccurate information on non-operating transactions and demand loans, the Beijing branch of the China Securities Regulatory Commission said today. movables.

Legend filed its reports on the 2020 and 2021 annual results and the 2017 acquisition of the capital of Banque Internationale Luxembourg later on the Shanghai Stock Exchange than on the Hong Kong Exchanges and Clearing, the regulator added.

After an inspection last September, the Beijing branch of the CSRC found that Legend had disclosed its 2020 and 2021 results and the acquisition of Banque Internationale Luxembourg shares in 2017 on the Shanghai stock exchange later than it did. had done so on the Hong Kong stock exchange, he added.

The Beijing-based investment holding company, established in 1984, must make corrections and submit a written report within 30 days, the regulator said.

Legend share price [HKG: 3396] ended little changed at HKD9.89 (USD1.26) today. Its bonds are still trading on the Shanghai market.

The company’s net profit jumped 49% last year to 5.8 billion CNY (910.5 million USD). Revenue increased 17% to CNY489.9 billion (USD 76.9 billion).

Publisher: Futura Costaglione

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