Lenovo's net assets are more than 20 billion, and it wants to raise 654.38+0 billion to develop its business. Why doesn't Huawei do this?

The key is that there are essential differences between the two: First, Huawei is a high-tech company, focusing on research and development, saving the development potential of enterprises, and willing to invest in new technology research and development. Lenovo is only an assembly company, and its R&D investment ratio in the past two years is only over 2%, which can't even meet the minimum standards of national high-tech enterprise certification. Second, Huawei is far-sighted, takes precautions, makes long-term plans and rationally arranges the use of funds, so that there will be no shortage of money and funds. Lenovo's asset-liability ratio is nearly 90%, and funds are tight. Only find a way to go public; Third, Huawei's capital investment is different from Lenovo's: Huawei's capital investment is in research and development, and the other is willing to pay high salaries to front-line R&D personnel. Lenovo is not willing to invest, but is willing to pay high salaries to senior executives: Yang's annual salary is 65.438+68 billion, even Liu Chuanzhi, who has retired, is nearly 100 million. On the one hand, executives are rich, and on the other hand, enterprises are short of funds. This strange phenomenon is very prominent in Lenovo.

The lice on the bald man's head are obvious. A technology enterprise, an empty shell enterprise, now wants to empty the enterprise into an empty shell.

Lenovo and Huawei have developed side by side for 30 years. Now that the assets are on the table, the harm comes out. In the past, China Unicom was the light of domestic products, and buying Lenovo was synonymous with patriotism. At present, this is a joke. Liu Mou and Liu Moumou are those guys who are selfish at the expense of the public and turn a good company into a face company and a shelf company. In order to get10 billion, they even lost face, but fortunately they didn't succeed!

On the other hand, Huawei was not obvious before the United States imposed sanctions. How many people didn't know that Huawei had developed so much in the world and had a strong future! Through the confrontation with the United States in the past two years, we know the power of Huawei! At the same time, we can see that Huawei's money is spent on bones, research and cutting edge!

In contrast, Lenovo needs to be a fat face for face10 billion, while Huawei is proud in its bones, only earning money within its own ability and spending its hard-earned money!

Down-to-earth Huawei deserves our admiration! There is also a luxury association, which advises everyone not to think about it!

Huawei does not go public for financing, in order to use more funds for enterprise development and scientific research investment.

Therefore, Lenovo and Huawei have almost the same time to establish enterprises, but their technological innovation ability and scientific and technological level are quite different, which fully illustrates the above point of view.

Huawei is recognized as the world's leading high-tech company. Lenovo can only be recognized by the public as the world assembly factory.

Lenovo will only sell and circle people.

How can the comprador compare with Liang Dong?

Huawei is not short of this money. Listing means that more shareholders share the company's profits. There is no need to do this if you are not short of money.

Huawei has become a world-class truly high-tech enterprise. Huawei insists on not going public and has seen the idea of being superior to the world. Imagine that if Huawei goes public, it will be completely controlled by capital, especially by the US imperialists. In this way, its development route will be dominated by capital, and even Huawei's world-leading high-tech achievements will inevitably be collected by the US imperialists. In the future, China's high-tech industry will inevitably be controlled by the U.S. imperialists, who can give orders to China at any time, and can also block China's neck at any time. The ultimate goal of the US imperialists in asking Huawei to go public is to dig a fatal pit for Huawei with capital, and also to dig an evil abyss for China that will never turn over. [Laugh] [Laugh] [Laugh]

Is going public for "business development"? It's not that simple!

When it comes to the older generation of entrepreneurs, we must not avoid Liu Chuanzhi and Ren. They have too many similarities with their own enterprises, but after more than 30 years, they have embarked on two completely different paths:

Liu Chuanzhi, the same age as Ren, was born in 1944, and both were the earliest entrepreneurs in China.

1984, Liu Chuanzhi founded the new technology development company of Chinese Academy of Sciences, the predecessor of Lenovo Group, with the support of the Institute of Computing Technology of Chinese Academy of Sciences. According to the names of the company and the Chinese Academy of Sciences, Lenovo belongs to "technology company" and "technology company". However, Lenovo's first bucket of gold was not obtained through "technology", but through trade, which is inevitably a bit ironic.

Lenovo "Do not forget your initiative mind" completed the accumulation of original capital through trade, obtained the PC production license at 1990, and Lenovo brand computers were launched in the domestic market, which is the return of the real technical and scientific fields.

We don't deny Lenovo's position in the computer field. Lenovo computers used to be the light of domestic products and were favored by consumers. But at present, many consumers are less and less "cold" about Lenovo computers, because although Lenovo has the appearance of "high-tech, new technology", the label of "assembly company" has never been removed. For example, Lenovo has acquired some computer brands from IBM, Motorola and Japan, and the business scope and brands are quite complicated, but most of the key accessories are imported. Lenovo is assembling computers rather than developing them.

Lenovo's R&D investment accounted for 2.98%, 3.27% and 2.92% of its revenue in fiscal years 20 19, 2020 and 200219 respectively. How low is this R&D investment ratio? Compared with Huawei, the average R&D investment ratio of these enterprises in science and technology innovation board in recent three years is 9.43%, while Lenovo Group is lower than the average level of 1/3, which is really too low. No wonder it was named "assembly company".

Not only the R&D investment ratio is low, but also the debt ratio is high, which makes it difficult to link listing with "business development", and it is easier to link "listing money to pay off debts":

According to the prospectus issued by Lenovo some time ago, in the last three years, Lenovo's debt ratio was 86.34%, 87.37% and 90.5% respectively, and the debt ratio showed an upward trend. Although the net assets amount to 23.7.1700 million yuan, the total liabilities amount to 1000 billion yuan. So Lenovo went public to "develop its business"? Is it to develop technology and high technology? I'm afraid it's not that simple. The smell of circling money to pay off debts is stronger.

In addition to the low R&D investment ratio and high debt ratio, the high executive compensation is also criticized: the data shows that the total remuneration of Lenovo's directors, executives and core technicians in the past three years was 565 million yuan, 909 million yuan and 934 million yuan respectively, accounting for 13.30%, 16.25% and 634 million yuan respectively. Comparing the proportion of executive compensation with that of R&D, you will find that the proportion of net profit used to pay executive compensation is 3-5 times that of R&D investment.

On the other hand, Huawei insists on investing more than 10% of sales revenue in R&D every year, much higher than Lenovo; In addition, Huawei is almost "owned by the whole people". Through the employee stock ownership platform, more than 99% of the shares are in the hands of employees. As the founder, Ren holds less than 65,438+0% of the shares, and he is still reducing his holdings year after year and making concessions to employees.

Writing here, putting Lenovo and Huawei together, it is inevitable to be a little "blushing". Huawei has invested more and more money in technology research and development, while Lenovo is a little off track.

It is precisely because of the above reasons that the Shanghai Stock Exchange accepted Lenovo's IPO application for returning to A shares on September 30th, but it was stopped on1October 8th at 65438. Lenovo's listing was terminated, and it took eight days from the beginning to the end, making it the shortest IPO enterprise in science and technology innovation board.

Lenovo seems to have a big appetite. Its net assets of more than 20 billion actually need to raise 654.38+0 billion. You know, it has been listed on the Hong Kong Stock Exchange for more than 20 years, and its current market value is only 90 billion. Do you want to return to the 65.438+00 billion A-share circle? Think a little too much, a little unrealistic.

As for why Huawei didn't choose to go public, I don't think it is necessary to explain too much. Huawei's listing is in line with its scale, asset-liability ratio and position in the field of science and technology. Moreover, listing is bound to be favored by capital, and the skyrocketing market value is certain.

However, Ren's Huawei has no idea of going public. The most fundamental reason is that it doesn't want to set foot in the capital market and put more time and energy into high-tech research and development, which is completely different from the idea that most enterprises "make money overnight by going public".

Net assets? These guys often overestimate the value of assets through bribery, so they can get a big discount.