What is behind Lenovo Kechuang's forced suspension of listing?

Considering the scale and complexity of the company's business, the financial information in the prospectus may expire during the application review period. After careful consideration of the latest capital market situation, it is decided to withdraw the listing application.

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I. Introduction of the Company

Lenovo Group Co., Ltd. is a computer manufacturing enterprise, with an investment of 200,000 yuan from the Institute of Computing 1984 of Chinese Academy of Sciences. Founded by 1 1 scientific and technical personnel, and headquartered in Beijing, China. The company's main products are desktop computers, notebook computers, printers and other commodities.

Second, the historical background of the company

1984, China 10 computer technicians such as Liu Chuanzhi realized that PC would definitely change people's work and life. With a start-up capital of 200,000 yuan (US$ 25,000) and a firm determination to turn research and development achievements into successful products, the 1 1 researchers started their business in a rented communication room in Beijing. This young company was named Lenovo. During the development of the company, Lenovo was brave in innovation and made many major technological breakthroughs, including the successful development of Lenovo Hanka, which can translate English operating system into Chinese, the development of a one-click personal computer, and the introduction of completely innovative related application technologies in 2003, thus establishing Lenovo's important position in the 3C era. With these advanced PC products, Lenovo has reached the peak of IT industry in China, occupying the first market share in China for eight consecutive years since 1997. Since 1997, Lenovo has been ranked first in the domestic market in China, accounting for more than 30% of the personal computer market in China.

Three. share transfer

On September 30th, 20 16, Legend Holdings (03396.HK) announced that Lenovo Group, a wholly-owned subsidiary of the company, had entered into a share transfer agreement with the state-owned capital management center in Haidian District, Beijing, and planned to sell all the shares of Lianchuang Ruiye (Beijing) Asset Management for17.8 billion yuan. Its main asset is Beijing Lenovo Research Institute Building. After the sale, the property was leased back to the seller to ensure Lenovo's.