Who can simply explain what happened to Lenovo Group and why it caused such a big controversy and public opinion?

The state-owned enterprise originally controlled by Chinese Academy of Sciences 100% has been shrinking through a series of magical operations. So is Lenovo a China enterprise or an American enterprise?

Let's take a look at the top ten shareholders of Legend Holdings.

The Chinese Academy of Sciences is still the largest shareholder holding 29.05%, the second largest shareholder Beijing Lianzhi Zhiyuan holds 20.37%, and Liu Chuanzhi holds 20%.

The chairman of Oceanwide Holdings, the third largest shareholder, and Liu Chuanzhi have personal friends, but they are not related by blood and cannot be said to be acting in concert.

The fourth largest shareholder is Beijing Lian Heng, while the seventh largest shareholder Ning Min (known as Liu Chuanzhi's successor) holds 14.5% of Lianzhi Zhitong shares and 24.67% of Lian Heng Yongkang shares.

Generally speaking, although the Chinese Academy of Sciences is still the largest shareholder, it has lost its veto power, and Liu Chuanzhi can't control the Chinese Academy of Sciences, but he has the greatest voice in the second largest shareholder, and has a certain influence on the third largest shareholder, and also has a strong influence on his successor, and is the chairman with the longest association. So Liu Chuanzhi's influence is the biggest.

In the whole process, the proportion of state-owned shares is getting lower and lower, and the proportion of individual capital represented by Liu Chuanzhi is getting higher and higher. I feel that he is trying his best to grab Lenovo's equity, although the procedures are legal!

Moreover, its top officials often say things that China people can't accept. For example, Lenovo is not a China company, but an international company. For example, 5G voted not to vote for Huawei!

No wonder most of people's income comes from outside China, and it is indeed an international company, but people can't forget their roots after all!

In addition, Didi, the daughter of Liu Chuanzhi, Liu Qing Holdings, listed in the United States and was severely criticized by the China Securities Regulatory Commission. Suspected of leaking detailed road information in China, posing a serious threat to national security!

So people now think that the Liu family are all American consciences and have a lot of complaints about Lenovo!

Everyone tastes good. Taste it carefully.

As for some Lenovo black spots circulating on the Internet, what official website puts Japanese samurai, and what internal and external users treat it differently. I think these are all trivial operations in marketing, and there are many such operations as Xiaomi Huawei. These are not heinous crimes.

As for the voting incident, it is quite dramatic.

It first broke out in a forum. At that time, ZTE was smashed by the United States, and it also received the American Commissioner and paid a fine. Everyone was very angry. Some people say that ZTE deserved to die, so we are looking for ZTE's black spots, so this buddy found the information of 5G voting to prove that ZTE deserved to die.

As a result, it was found that Lenovo did the teaching, and then someone posted a post to detonate public opinion.

1: Looking horizontally (compared with Huawei) is much worse, and looking vertically (compared with Founder and Sitong) is much stronger!

2. A group of people who are good at computing are engaged in computing, and their computing ability (poor and hateful Chinese Academy of Sciences) is far higher than their computing (scientific research) ability!

3. At present, China's computer software and hardware foundation can't make Lenovo, the dou in everyone's mind, stand firm.

National enterprises born in line with the times, with the development and growth of the times, have failed to live up to the national scientific and technological mission. LX is both worthy of the name and worthy of the name.

From the perspective of the times and the people, it shows that the people have fallen into capital hysteria and hate capitalists, which is also a helpless struggle against the present society. The gap between the rich and the poor is wide, the bottom people have no life, and the weak can't fight for it.

This incident originated from six videos about Lenovo released by Si Manan a few weeks ago, which involved sharp and sensitive issues, and even whether there was a problem of selling state-owned assets cheaply and turning the former state-owned enterprises into private property.

In addition, Lenovo withdrew its application a month ago after planning to go public on the Science and Technology Innovation Board. Through this, people pay attention to Lenovo's financial report, showing that several executives earn hundreds of millions of yuan a year. Liu Chuanzhi not only owns Legend Holdings, but also receives a pension of tens of millions of yuan every year. The incident caused a heated discussion at that time. Just after the fever subsided, Si Manan dropped another "blockbuster", which triggered a storm in the city.

Let's analyze several key issues mentioned in Si Manan's video.

There are two Lenovo companies listed on the Hong Kong Stock Exchange, one is Legend Holdings and the other is Lenovo Group, both of which have high asset-liability ratios. The latest financial report shows that the asset-liability ratio of Legend Holdings is 86.54% and that of Lenovo Group is 90.3%. This debt ratio is higher than most housing enterprises.

In my opinion, this problem should not be the focus. Lenovo's main business is actually assembling computers. High debt ratio can be compensated by high turnover rate, and the debt ratio of similar enterprises is also high. For example, the asset-liability ratio of Digital China is over 80%, and that of Apple is 82%. The business models of Dell Computer and Lenovo are the most similar, and the asset-liability ratio reaches an astonishing 92%.

As for Lenovo, will there be such a big debt and cash flow crisis? Not at present, because the ratio of cash to short-term loans of Legend Holdings is 2. 14, that of Lenovo Group is more than 7, and even less than 0.7 in some Dalian.

This problem is the key of the key.

According to data provided by Si Manan, Chinese Academy of Sciences sold 29% of Legend Holdings to Oceanwide Group for 2.755 billion yuan. At the end of 2008, the net assets of Legend Holdings were 65.438+0.394 billion yuan, and the share of net assets corresponding to 29% shares was 4.042 billion yuan. 2.755 billion yuan to transfer 4.042 billion yuan of net assets, there is indeed a suspicion of sale.

In addition, the boss of Oceanwide Group is Lu Zhiqiang. This person and Liu Chuanzhi are both members of the Taishan Club of the Business Association. They have a good relationship and have increased a lot of talk.

If there is a situation of selling state-owned assets at a low price, it is a very serious matter, which may involve crimes and is definitely a big melon. But from the current evidence alone, it is not enough to draw the conclusion that buying and selling is cheap. Because in the historical environment at that time, many state-owned enterprises transferred their assets to private capital in order to stimulate their vitality, which was encouraged at that time. Of course, some transactions are legal and reasonable, and some are really tricky.

Whether there is a problem in the transfer of Legend Holdings' equity to Oceanwide can only be comprehensively judged by referring to other contents except the price clause in the agreement at that time.

Before Legend Holdings went public, the shareholders' shareholding situation was: Chinese Academy of Sciences held 36% of the shares, nominally the largest shareholder. However, among the remaining nine shareholders of Legend Holdings, seven belong to Lenovo's senior management department headed by Liu Chuanzhi, who control 42.5% of the voting rights of Legend Holdings.

Therefore, Lenovo executives have more voting rights than the Chinese Academy of Sciences, even if the shares currently held by Liu Chuanzhi's old friend Oceanwide Group are not counted.

After that, Legend Holdings completed its public listing on the Hong Kong Stock Exchange, and the shareholding ratio of all parties was further reduced. The current shareholding situation is: Chinese Academy of Sciences holds 29.05%, Lenovo executives such as Liu Chuanzhi hold 3 1.52%, and Oceanwide Group holds 16.98%.

It is a fact that the Chinese Academy of Sciences mentioned in Si Manan's video has less voting rights in Legend Holdings than Liu Chuanzhi and others, which was already the case before Legend Holdings went public. However, he said that it is problematic for the Chinese Academy of Sciences to lose its veto power. Because the company's major decisions need to be passed by two-thirds of the voting rights held by shareholders attending the shareholders' meeting, in other words, shareholders holding one-third of the shares will have one vote of veto before major issues.

Please note that one-third of the base is not all shareholders, but shareholders attending the shareholders' meeting. As far as Legend Holdings is concerned, it is almost impossible for retail investors to participate in the shareholders' meeting. Voters are Chinese Academy of Sciences, Liu Chuanzhi and other senior executives and Oceanwide Group. The three parties hold 77.55% of the shares of Legend Holdings, so only the party holding more than 25.82% has one vote of veto, while the Chinese Academy of Sciences has 29.05%.

The above three issues are outstanding in Si Manan's videos, especially the last two, which run through six videos and are the most important content, and a series of other issues revolve around them.

Previously, the audio of Liu Chuanzhi's response came out on the Internet, which was later proved to be Liu Chuanzhi's voice after the 20 18 5G voting event, not Si Manan's recent response.

To tell the truth, Si Manan's video is very eye-catching and has aroused heated public opinion, but his views are not enough to shake Lenovo Group. There were many cases that were much more complicated than Lenovo's equity transaction. At that time, it was common for state-owned enterprises to turn into private enterprises. Perhaps it is not clear that Vanke's predecessor was actually a state-owned enterprise.

Whether there is a sale of state-owned assets depends on more detailed data and the specific contents of the equity transaction agreement of that year. However, this melon has been thrown out, and it is reasonable to cause heated public opinion.

On the other hand, it is reported on the Internet that Liu Chuanzhi sent his female secretary to interview Si Manan and put forward four solutions, which Si Manan ignored. I wonder if the news is true. If it is true, it means that Liu Chuanzhi doesn't want to magnify things. After all, it also involves the Chinese Academy of Sciences. As for whether the incident will continue to ferment, it depends on the thoughts of Si Manan and the bosses behind him.

It is suggested that the bullet fly for a while first. If Liu Chuanzhi and Lenovo really have serious problems, there must be bigger melons behind them.

Study history and politics well.

I'll just talk about my perceptual knowledge: 1. I have used Lenovo mobile phone, which is difficult for thieves to use. 2. Lenovo computers are more expensive at home than abroad, comprador! 3. After so many years without any core technology, it is still an assembly plant.

Simply put, someone is deliberately tossing him and taking a fancy to his market share. . Low level means

The original attack on Lenovo was obviously premeditated, planned and promoted step by step. Last week, Lenovo's short selling was a landmark event, which means that the international short selling forces represented by Wall Street changed their attack strategy on China Stock Exchange, and created a new era of relying on rumors of small institutions and short selling of big institutions without investigation and analysis.

After attacking Lenovo: some self-media people whose profit-seeking nature can't be tolerated seem as if flies smell blood. Wave after wave, an endless stream. The flow effect makes the participants high-spirited, and the people who are watching the fun and expressing their "justice complex" also shout "enjoyable"! Everyone flaunts "justice", every hero. It's really an online feast of English talents. Those who are not on the show or at the table, hurry up.