Personal Computer Giant Lenovo to Issue $2 Billion 3-Year Zero-Coupon Convertible Bonds to Saudi Arabia Sovereign Wealth Public Investment Fund Subsidiary Alat (Industrial Company for Electronics), Convertible to 1.5 Million Lenovo Shares Equivalent to 10.8% of Equity at HKD 10.42 Per Share, Price Represents 11.8% Discount to Lenovo Closing Price on 28th May 2024, Lenovo Current Market Value is $17.9 Billion
31st May 2024 | Hong Kong
Personal computer giant Lenovo has announced plan to issue a $2 billion 3-year zero-coupon convertible bonds to Saudi Arabia sovereign wealth Public Investment Fund (PIF) subsidiary Alat (Industrial Company for Electronics), with the bond convertible to 1.5 million Lenovo shares equivalent to 10.8% of Lenovo equity at HKD 10.42 per share (Price represents 11.8% discount to Lenovo closing price on 28th May 2024). Lenovo current market value is $17.9 billion (31/5/24). In 2023 December, China billionaire & Lenovo Chairman & CEO Yuanqing Yang donated $28 million (CNY 200 million) to the University of Science & Technology of China to drive scientific research innovation and nurture young talent. Lenovo: “Lenovo Chairman and CEO Yuanqing Yang announced that he will make a personal donation of RMB 200 million (approx. US$28 million) to the University of Science and Technology of China (USTC), Yang’s alma mater university, to drive scientific research innovation and nurture young talent. The donation is in recognition of the university’s 65th anniversary. Yang’s donation will be used to support the construction of a new teaching building for young talent focusing on scientific research and innovation. Located at the East Campus of USTC in Hefei, China, the new building will break ground in early 2024 and is due to be completed in 2028 in time for USTC’s 70th anniversary. In his speech at the ceremony yesterday, Yang said that he hopes that with this new facility at USTC, the young talent who will study in this building, once construction has been completed, will achieve excellent results in the first-class learning and scientific research environment. He also hopes that they can aim high and devote themselves to scientific research, contributing to drive scientific development … … No matter what routes students decide to follow post-graduation; Yang hopes that they can also remember their years of study spent at the university.” China billionaire & Lenovo Chairman & CEO Yuanqing Yang has a personal fortune of more than $1.2 billion. Yuanqing Yang joined Lenovo Group in 1989 and has played a key role in Lenovo’s transformation into a US$70 billion global technology powerhouse, employing 75,000 people and serving customers in 180 markets around the world. More info below:
“ Personal Computer Giant Lenovo to Issue $2 Billion 3-Year Zero-Coupon Convertible Bonds to Saudi Arabia Sovereign Wealth Public Investment Fund Subsidiary Alat (Industrial Company for Electronics), Convertible to 1.5 Million Lenovo Shares Equivalent to 10.8% of Equity at HKD 10.42 Per Share, Price Represents 11.8% Discount to Lenovo Closing Price on 28th May 2024, Lenovo Current Market Value is $17.9 Billion “
China Billionaire & Lenovo Chairman & CEO Yuanqing Yang Donates $28 Million to University of Science & Technology of China to Drive Scientific Research Innovation and Nurture Young Talent
21st December 2023 – China billionaire & Lenovo Chairman & CEO Yuanqing Yang has donated $28 million (CNY 200 million) to the University of Science & Technology of China to drive scientific research innovation and nurture young talent. Lenovo: “Lenovo Chairman and CEO Yuanqing Yang announced that he will make a personal donation of RMB 200 million (approx. US$28 million) to the University of Science and Technology of China (USTC), Yang’s alma mater university, to drive scientific research innovation and nurture young talent. The donation is in recognition of the university’s 65th anniversary. Yang’s donation will be used to support the construction of a new teaching building for young talent focusing on scientific research and innovation. Located at the East Campus of USTC in Hefei, China, the new building will break ground in early 2024 and is due to be completed in 2028 in time for USTC’s 70th anniversary. In his speech at the ceremony yesterday, Yang said that he hopes that with this new facility at USTC, the young talent who will study in this building, once construction has been completed, will achieve excellent results in the first-class learning and scientific research environment. He also hopes that they can aim high and devote themselves to scientific research, contributing to drive scientific development … … No matter what routes students decide to follow post-graduation; Yang hopes that they can also remember their years of study spent at the university.” China billionaire & Lenovo Chairman & CEO Yuanqing Yang has a personal fortune of more than $1.2 billion. Yuanqing Yang joined Lenovo Group in 1989 and has played a key role in Lenovo’s transformation into a US$70 billion global technology powerhouse, employing 75,000 people and serving customers in 180 markets around the world. More info below:
Lenovo Chairman & CEO Yuanqing Yang: “It would be my great honor if I could inspire some alumni to pass on the culture of giving back to my alma mater.”
Yang has a strong enthusiasm for advancing education, and an area he’s committed to philanthropically:
- In 2015, he donated RMB 10 million to Shanghai Jiao Tong University to establish the Yang Yuanqing Education Fund and the 1985 CS Graduates Education & Development Fund.
- In 2015, the University of North Carolina (Chapel Hill) created the Yang Scholars program at the UNC School of Medicine to recognize individuals who have made significant scholarly contributions to their field and received national recognition for their research.
- In 2017, he made another RMB 10 million donation to establish an education fund at USTC.
- In 2020, he donated a further RMB 10 million to support COVID-19 research at USTC and the development of the University’s Health Services Research Center and Public Health and Preventive Medicine discipline.
- He made another donation of RMB 100 million in 2021 to Shanghai Jiao Tong University to build a state-of-the-art liquid-cooling high-performance computing center.
- In 2022, he expressed his support to scientific research innovation and talented young mathematicians by making donation to Qiuzhen College of Tsinghua University.
- In 2023, Yuanqing Yang announced that he will make a personal donation of RMB 200 million (approx. US$28 million) to the University of Science and Technology of China (USTC), Yang’s alma mater university, to drive scientific research innovation and nurture young talent.
Yang was born in Anhui Province of China in November 1964. He received a master’s degree in computer science from the University of Science and Technology of China and a bachelor’s degree in computer science and engineering from Shanghai Jiao Tong University. Yang serves as a member of the International Advisory Council of Brookings Institute and is a board member of Baidu, Inc. and TaiKang Insurance Group.
Lenovo –Lenovo (HKSE: 992) (ADR: LNVGY) is a US$62 billion revenue global technology powerhouse, ranked #217 in the Fortune Global 500, employing 77,000 people around the world, and serving millions of customers every day in 180 markets. Focused on a bold vision to deliver smarter technology for all, Lenovo has built on its success as the world’s largest PC company by further expanding into growth areas that fuel the advancement of ‘New IT’ technologies (client, edge, cloud, network, and intelligence) including server, storage, mobile, software, solutions, and services. This transformation together with Lenovo’s world-changing innovation is building a more inclusive, trustworthy, and smarter future for everyone, everywhere.
2023 Q2 – Lenovo Group announced second quarter results reporting Group revenue of US$14.4 billion and net income of US$273 million on a non-Hong Kong Financial Reporting Standards basis. Gross profit margin improved year-on-year to 17.5%, a record high for a second quarter.
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