Legend Holdings Realized Revenue of RMB436 billion in 2023
2024年3月29日 - 5:55PM
JCN Newswire
Legend Holdings Corporation (3396.HK) announced its audited
annual results for the year ended December 31, 2023 (the "Reporting
Period"). The Company's revenue for 2023 was RMB436,012 million
(RMB, the same below), and the net profit was RMB630 million.
Against the backdrop of global economic slowdown, Legend Holdings'
operation performance temporarily suffered from pressure due to the
fluctuations in the industry and capital markets; the profits
contributed by Lenovo Group and Levima Group from the industrial
operations segment, as well as the investment gain in the
industrial incubations and investments segment, both recorded a
year-on-year decrease, and the net profit attributable to equity
holders of the Company recorded a loss. In response, the Company
implemented proactive measures to help its subsidiaries accommodate
market challenges and industry cycles' influence and achieved
initial success. Furthermore, the recovery of the capital market
will boost the development of the Company's investment
businesses.
Mr. Li Peng, the Executive Director and Chief Executive Officer of
Legend Holdings, said, in the year 2023, in the face of various
challenges emerged in the high-quality development transformation
of the enterprises, Legend Holdings remained resolute in advancing
innovation-driven development strategies, proactively responded to
the influence of external environment, solidly fulfilled its
corporate social responsibilities, and actively integrated itself
into the strategic deployment for Chinese path to modernization.
Furthermore, the Company has conducted more in-depth review on its
shortcomings and will be committed to coordinating high-quality
development while maintaining a high-level of security. While
further consolidating its foundations, the Company will fully
capitalize on its accumulated strengths to seize opportunities from
this new wave of technological innovation, not only to fuel the
continuous improvements in its business performance but also
actively contribute value to the society.
Strengthening the pillar industries and resolutely advancing
innovation-driven enterprise transformation and upgrade
In 2023, Legend Holdings safeguarded the relative stability of its
business foundations while implementing the new development concept
in depth.
The Company accelerated the development of leading enterprises with
international competitiveness and command over the industrial
chain, focusing its efforts on strengthening its industrial base.
Lenovo maintained its solid leading position in IT field, further
consolidated its world's No. 1 place in PC market with a
significant outperformance in the market, ranking among the top
three globally in the server industry, and retained as the No. 1 in
the global TOP500 and Green100 in terms of high-performance
computing. At the same time, Lenovo took the lead in launching the
world's first AI PC, and committed to leading the PC industry in
intergenerational upgrade, and to creating the first inclusive AI
terminal. After completing the domestic substitution of EVA
photovoltaic adhesive film materials, Levima Advanced Materials has
once again entered into the field of POE (Polyolefin elastomer),
breaking the monopoly held by foreign countries in production and
technology of POE, and multiple projects will be put into
production in the first half of 2024. With the steady development
of its businesses, Fullhan Microelectronics has made solid and
in-depth efforts in the three major business areas of smart video,
smart IoT and smart automotive products, accelerated the
introduction of new products, penetrated new market opportunities,
and possessed the capability of supplying complete one-stop
solutions.
Continuously enhancing the ability in scientific and technological
innovation, increasing investment in research and development, the
Company continued to strengthen the exploration and practice of its
AI innovation path. In 2023, the R&D expenditure of the Company
reached RMB14.8 billion, raising its R&D expense ratio from
2.6% in 2021 to 3.4% in 2023. At the same time, it actively
promoted its subsidiary funds to increase support for China's
innovative hi-tech enterprises, and invested in more than 100
Chinese innovative hi-tech enterprises throughout the year. In the
field of artificial intelligence, which is an important engine for
the development of new quality productive forces, the Company has
invested in more than 200 related enterprises, formed a full-stack
portfolio covering "device, technology, model, platform, and
application", securing a first-mover advantage for the development
of the "AI+" initiative. On March 8, 2024, Legend Holdings entered
into a strategic cooperation agreement with Zhipu AI to carry out
in-depth cooperation in the field of artificial intelligence.
The Company continued to harness the role of industrial chain
leader and actively promoted the digital and intelligent
transformation and growth of SMEs, which has gained considerable
achievements. Its subsidiary, Lenovo, can provided SMEs with not
only a full matrix of smart devices, but also stable computing
power for all scenarios, hybrid cloud, industry solutions, and
life-cycle intelligent transformation services. It has served over
a million SMEs and supported the intelligent transformation of over
30,000 specialized and innovative enterprises, including over 3,000
national specialized and innovative "little giant" firms.
The Company also strengthened its attention on early-stage
technologies and explored approaches to integrated development
across education, technology, talent, and industries. The "Legend
Holdings Forward-looking Technology Research Institute , set up by
the Company, has initially built an enterprise-led and
market-oriented technology innovation system leveraging
collaboration among industry, academia, research institutes, and
end users. It has established connections with more than 60
enterprises and research institutions to discuss IP co-creation and
cooperation modes, and preliminarily selected 39 seed technologies,
and initiated in-depth cooperation with 2 universities and 7
domestic and foreign enterprises.
Practicing low-carbon development and actively fulfilling corporate
social responsibilities
Legend Holdings has consistently promoted its subsidiaries to seize
the green and low-carbon development and actively responded to the
national strategy of carbon peaking and carbon neutrality. Lenovo
was the first company in China to pass the net zero target
verification by the Science Based Targets initiative (SBTi) and has
zero-carbon factories with the highest-standard in the industry.
Levima Advanced Materials, as a state-level High-tech enterprise
and Green Factory, deepened its layout in green industries such as
new energy materials and biodegradable plastics, contributing to
the achievement of Chinese de-carbonization goals.
Rural revitalization and technological innovation are the focused
areas of Legend Holdings for its corporate social responsibility.
In terms of rural revitalization, the Company has launched the
"Legend Enterprising Class" with a focus on education in
underdeveloped areas, providing assistance for the talent pool of
rural industry revitalization over the past 20 years. The Revolving
Loans for Mothers, a project supported by the Company since 2018,
has helped women from low-income families in many areas to start
businesses with local characteristics, promoting their hometowns
towards improving agriculture by high-quality and green products
while giving first priority to effectiveness. In terms of
technological innovation, the Company remained committed to
building an entrepreneurial ecosystem conducive to technological
innovation and supported the growth of high-tech entrepreneurial
leaders. For instance, the public welfare training program for
start-up CEOs launched in 2008 has admitted approximately 1,300
entrepreneurs. Currently, 55 enterprises founded by the trainees
have been successfully listed, while 122 have been selected as
national specialized and innovative "little giant" firm, providing
employment for nearly 400,000 people.
Developing new quality productive forces and deepening the
establishment of core competitiveness
The "give great impetus to the development of the modern industrial
system and accelerate the development of new quality productive
forces" proposed in this year's government work report provided new
guidance for the development of enterprises. In the future, the
Company will focus more on "technological innovation", fully
capitalize on its 40 years of industrial accumulation, ecological
layout and technological & innovative investment, highlight the
development of new quality productive forces and deepen the
establishment of the Company's core competitiveness.
The Company will continue to promote the strategic transformation
of itself and its subsidiaries to build a more robust industrial
foundation; further optimize the business layout and financial
structure, accelerate the backflow of resources, and incline to
make investment in the field of scientific and technological
innovation; in combination with the trend of the capital markets,
the Company will actively promote the capital operation of quality
enterprises to help them develop faster and become better, and
effectively increase its public value; continue to give full play
to the exploration and cultivation of the early-stage technologies
by The Legend Holdings Forward-looking Technology Research
Institute, with a focus on the forward-looking needs in three major
fields of intelligent sensing, new materials and new energy. It
will accelerate the advancement and implementation of innovative
incubation topics which are our key layout, such as photonic
integration to fill the shortcoming of AI's new computing,
biodegradable new materials for treating white pollution, and
virtual power plant algorithms oriented for the optimization of the
new type of electric power system.
Mr. Ning Min, Chairman and Executive Director of Legend Holdings,
said, in 2023, in the face of multiple internal and external
challenges, Legend Holdings, on the one hand, consolidated its
industrial foundation and strengthened its risk-resistant
capability, and on the other hand, put the implementation of the
innovation-driven development strategy and support for high-level
scientific and technological self-reliance in a more prominent
position, confronted the difficulties, conducted positive
explorations, and made solid progress in operations. This year
marks the 75th anniversary of the founding of the People's Republic
of China, and in accordance with the deployment of the Central
Economic Work Conference, the Company will stay true to its
original aspiration of serving the country through industry,
consciously practice the people-centered philosophy of development,
and accommodate itself to the trend of the times by actively
participating in scientific and technological innovation-led
high-quality development, to vigorously promote the development of
new quality productive forces and make greater contributions to
Chinese path to modernization.
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