HONG KONG, Mar 29, 2024 – (ACN Newswire) – – Legend Holdings Company (3396.HK) introduced its audited annual outcomes for the yr ended December 31, 2023 (the “Reporting Interval”). The Firm’s income for 2023 was RMB436,012 million (RMB, the identical under), and the web revenue was RMB630 million.
In opposition to the backdrop of worldwide financial slowdown, Legend Holdings’ operation efficiency quickly suffered from stress because of the fluctuations within the trade and capital markets; the income contributed by Lenovo Group (OTC:) and Levima Group from the economic operations phase, in addition to the funding acquire within the industrial incubations and investments phase, each recorded a year-on-year lower, and the web revenue attributable to fairness holders of the Firm recorded a loss. In response, the Firm carried out proactive measures to assist its subsidiaries accommodate market challenges and trade cycles’ affect and achieved preliminary success. Moreover, the restoration of the capital market will increase the event of the Firm’s funding companies.
Mr. Li Peng, the Government Director and Chief Government Officer of Legend Holdings, stated, within the yr 2023, within the face of assorted challenges emerged within the high-quality improvement transformation of the enterprises, Legend Holdings remained resolute in advancing innovation-driven improvement methods, proactively responded to the affect of exterior setting, solidly fulfilled its company social duties, and actively built-in itself into the strategic deployment for Chinese language path to modernization. Moreover, the Firm has performed extra in-depth evaluation on its shortcomings and can be dedicated to coordinating high-quality improvement whereas sustaining a high-level of safety. Whereas additional consolidating its foundations, the Firm will absolutely capitalize on its accrued strengths to grab alternatives from this new wave of technological innovation, not solely to gasoline the continual enhancements in its enterprise efficiency but additionally actively contribute worth to the society.
Strengthening the pillar industries and resolutely advancing innovation-driven enterprise transformation and improve
In 2023, Legend Holdings safeguarded the relative stability of its enterprise foundations whereas implementing the brand new improvement idea in depth.
The Firm accelerated the event of main enterprises with worldwide competitiveness and command over the economic chain, focusing its efforts on strengthening its industrial base. Lenovo maintained its strong main place in IT discipline, additional consolidated its world’s No. 1 place in PC market with a big outperformance available in the market, rating among the many high three globally within the server trade, and retained because the No. 1 within the world TOP500 and Green100 when it comes to high-performance computing. On the similar time, Lenovo took the lead in launching the world’s first AI PC, and dedicated to main the PC trade in intergenerational improve, and to creating the primary inclusive AI terminal. After finishing the home substitution of EVA photovoltaic adhesive movie supplies, Levima Superior Supplies has as soon as once more entered into the sphere of POE (Polyolefin elastomer), breaking the monopoly held by international international locations in manufacturing and know-how of POE, and a number of tasks can be put into manufacturing within the first half of 2024. With the regular improvement of its companies, Fullhan Microelectronics has made strong and in-depth efforts within the three main enterprise areas of sensible video, sensible IoT and sensible automotive merchandise, accelerated the introduction of recent merchandise, penetrated new market alternatives, and possessed the aptitude of supplying full one-stop options.
Repeatedly enhancing the power in scientific and technological innovation, rising funding in analysis and improvement, the Firm continued to strengthen the exploration and observe of its AI innovation path. In 2023, the R&D expenditure of the Firm reached RMB14.8 billion, elevating its R&D expense ratio from 2.6% in 2021 to three.4% in 2023. On the similar time, it actively promoted its subsidiary funds to extend assist for China’s revolutionary hi-tech enterprises, and invested in additional than 100 Chinese language revolutionary hi-tech enterprises all year long. Within the discipline of synthetic intelligence, which is a crucial engine for the event of recent high quality productive forces, the Firm has invested in additional than 200 associated enterprises, shaped a full-stack portfolio protecting “system, know-how, mannequin, platform, and utility”, securing a first-mover benefit for the event of the “AI+” initiative. On March 8, 2024, Legend Holdings entered right into a strategic cooperation settlement with Zhipu AI to hold out in-depth cooperation within the discipline of synthetic intelligence.
The Firm continued to harness the position of business chain chief and actively promoted the digital and clever transformation and progress of SMEs, which has gained appreciable achievements. Its subsidiary, Lenovo, can offered SMEs with not solely a full matrix of sensible gadgets, but additionally steady computing energy for all situations, hybrid cloud, trade options, and life-cycle clever transformation providers. It has served over one million SMEs and supported the clever transformation of over 30,000 specialised and revolutionary enterprises, together with over 3,000 nationwide specialised and revolutionary “little big” corporations.
The Firm additionally strengthened its consideration on early-stage applied sciences and explored approaches to built-in improvement throughout schooling, know-how, expertise, and industries. The “Legend Holdings Ahead-looking Know-how Analysis Institute , arrange by the Firm, has initially constructed an enterprise-led and market-oriented know-how innovation system leveraging collaboration amongst trade, academia, analysis institutes, and finish customers. It has established connections with greater than 60 enterprises and analysis establishments to debate IP co-creation and cooperation modes, and preliminarily chosen 39 seed applied sciences, and initiated in-depth cooperation with 2 universities and seven home and international enterprises.
Practising low-carbon improvement and actively fulfilling company social duties
Legend Holdings has constantly promoted its subsidiaries to grab the inexperienced and low-carbon improvement and actively responded to the nationwide technique of carbon peaking and carbon neutrality. Lenovo was the primary firm in China to cross the web zero goal verification by the Science Primarily based Targets initiative (SBTi) and has zero-carbon factories with the highest-standard within the trade. Levima Superior Supplies, as a state-level Excessive-tech enterprise and Inexperienced Manufacturing facility, deepened its format in inexperienced industries resembling new power supplies and biodegradable plastics, contributing to the achievement of Chinese language de-carbonization objectives.
Rural revitalization and technological innovation are the centered areas of Legend Holdings for its company social accountability. By way of rural revitalization, the Firm has launched the “Legend Enterprising Class” with a deal with schooling in underdeveloped areas, offering help for the expertise pool of rural trade revitalization over the previous 20 years. The Revolving Loans for Moms, a mission supported by the Firm since 2018, has helped girls from low-income households in lots of areas to start out companies with native traits, selling their hometowns in the direction of bettering agriculture by high-quality and inexperienced merchandise whereas giving first precedence to effectiveness. By way of technological innovation, the Firm remained dedicated to constructing an entrepreneurial ecosystem conducive to technological innovation and supported the expansion of high-tech entrepreneurial leaders. As an example, the general public welfare coaching program for start-up CEOs launched in 2008 has admitted roughly 1,300 entrepreneurs. Presently, 55 enterprises based by the trainees have been efficiently listed, whereas 122 have been chosen as nationwide specialised and revolutionary “little big” agency, offering employment for almost 400,000 individuals.
Growing new high quality productive forces and deepening the institution of core competitiveness
The “give nice impetus to the event of the fashionable industrial system and speed up the event of recent high quality productive forces” proposed on this yr’s authorities work report offered new steering for the event of enterprises. Sooner or later, the Firm will focus extra on “technological innovation”, absolutely capitalize on its 40 years of business accumulation, ecological format and technological & revolutionary funding, spotlight the event of recent high quality productive forces and deepen the institution of the Firm’s core competitiveness.
The Firm will proceed to advertise the strategic transformation of itself and its subsidiaries to construct a extra strong industrial basis; additional optimize the enterprise format and monetary construction, speed up the backflow of assets, and incline to make funding within the discipline of scientific and technological innovation; together with the development of the capital markets, the Firm will actively promote the capital operation of high quality enterprises to assist them develop quicker and develop into higher, and successfully improve its public worth; proceed to provide full play to the exploration and cultivation of the early-stage applied sciences by The Legend Holdings Ahead-looking Know-how Analysis Institute, with a deal with the forward-looking wants in three main fields of clever sensing, new supplies and new power. It is going to speed up the development and implementation of revolutionary incubation subjects that are our key format, resembling photonic integration to fill the shortcoming of AI’s new computing, biodegradable new supplies for treating white air pollution, and digital energy plant algorithms oriented for the optimization of the brand new sort of electrical energy system.
Mr. Ning Min, Chairman and Government Director of Legend Holdings, stated, in 2023, within the face of a number of inner and exterior challenges, Legend Holdings, on the one hand, consolidated its industrial basis and strengthened its risk-resistant functionality, and alternatively, put the implementation of the innovation-driven improvement technique and assist for high-level scientific and technological self-reliance in a extra distinguished place, confronted the difficulties, performed constructive explorations, and made strong progress in operations. This yr marks the seventy fifth anniversary of the founding of the Individuals’s Republic of China, and in accordance with the deployment of the Central Financial Work Convention, the Firm will keep true to its unique aspiration of serving the nation by way of trade, consciously observe the people-centered philosophy of improvement, and accommodate itself to the development of the instances by actively collaborating in scientific and technological innovation-led high-quality improvement, to vigorously promote the event of recent high quality productive forces and make larger contributions to Chinese language path to modernization.
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