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Public company info - Legend Holdings Corporation - H Shares , 03396.HK
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Legend Holdings Corporation - H Shares, 03396.HK - Company Profile
Chairman NING Min
Share Issued (share) 1,272,000,000
Par Currency Renminbi
Par Value 1.0
Industry Conglomerates
Corporate Profile Business Summary: The principal businesses of the Company comprise strategic investment business (investment in five major sectors: IT, financial services, innovative consumption and services, agriculture and food, and new materials) and financial investment business (mainly includes angel investments, venture capital, private equity investments and other investments). Performance for the year: In 2019, the revenue stood at RMB389.218 billion, up by 8% year on year, Net profit attributable to equity holders of the Company stood at RMB3,607 million, down by 17% year on year. Business Review Revenue of the IT segment increased by 8% year on year to RMB357.212 billion, and net profit attributable to equity holders of the Company increased by 48% to RMB1.608 billion, a record high driven by Lenovo’s strategy implementation and operation improvement; Revenue of the financial services segment increased by 27% year on year to RMB8,815 million, mainly contributed by the consolidated revenue of BIL in the whole year of 2019; net profit attributable to equity holders of the Company dropped by 19% year on year to RMB2,076 million, mainly due to the strategic downsizing of businesses of companies in the segment and the fair value changes of relevant portfolio companies; Revenue of the innovative consumption and services segment decreased by 30% year on year to RMB905 million, mainly due to the deconsolidation of Bybo Dental’s revenue since it was transformed into an associate of the Company; net loss attributable to equity holders of the Company was RMB295 million, basically equal to that of 2018 on the operational level (excluding the one-off gains from the equity financing of Bybo Dental in 2018); Revenue of the agriculture and food segment increased by 21% year on year to RMB15.695 billion, mainly contributed by Joy Wing Mau and the newly consolidated revenue from the acquisition of the Chilean Australis project; net profit attributable to equity holders of the Company increased by 10% year on year to RMB230 million; Revenue of the advanced manufacturing and professional services segment decreased by 6% year on year to RMB5.947 billion, mainly due to the supply chain business adjustments; net profit attributable to equity holders of the Company increased by 82% year on year to RMB476 million, mainly driven by the growth of Levima Advanced Materials; Net profit attributable to equity holders of the Company of the financial investments segment increased by 68% year on year to RMB906 million. Though the portfolio value of Legend Star and Legend Capital increased in 2019 and contributed considerable realized gains, the fair value downgrade of certain projects offset the aforementioned gains. Prospects: The COVID-19 and capital market turmoil at the beginning of 2020 have compounded the challenges and uncertainties of the business environment. While ensuring prevention and fight against the disease, Legend Holdings immediately provided support to the portfolio companies, helping them to make dynamic assessments on the business operation and to adopt measures to survive the epidemic. In 2020, Legend Holdings will continue to consolidate and refine the current businesses, and will also dynamically formulate work plans for the next few years based on the external business environment and the proprietary resources. Lenovo Group will accelerate building pillar assets. Lenovo Group is always a pillar asset of Legend Holdings, while BIL, acquired in 2018, has provided important support from assets and profits; Joyvio Group has taken initial shape in the main businesses, and Levima New Materials has begun to make a deep dive into fine chemicals. Both Joyvio and Levima are preparing to raise more fund from the capital market and to release their value. The Group is confident to build new business pillars and leading companies in niche markets in finance, agriculture and food, and new materials other than IT. Lenovo Group will further focus on main businesses and accelerate the backflow of resources. In 2020, based on the external environment and the Company’s resource allocation needs, Legend Holdings will further focus on the main businesses. The Group will also exit from some portfolio companies to enable more backflow of resources and to accumulate resources for the upcoming business layout in the new strategic cycle. Lenovo Group will continue to build up the synergy under the “two-wheel-drive” model. The Group's strategic investments have formed some industry focuses, and the financial investments platforms have accumulated in-depth industry insights and project resources in multiple sectors. This makes it possible for us to source from the portfolio companies under financial investments the projects in line with strategic investment standards with higher success probability, particularly in TMT, artificial intelligence, healthcare, high-end manufacturing and other specific sectors. Meanwhile, with the “two-wheel-drive” model, the portfolio companies have built extensive commercial networks in common, which is also the unique advantage of the Group's value-added services. The Group will establish internal mechanisms to commercialize this advantage to create cooperation between the Group's portfolio companies, to reduce the cost of communication, to realize the real returns, and to strengthen Legend Holdings’ business framework. Lenovo Group will make greater efforts in team building. Talent is the most important asset of a company. At the end of 2019, the Group completed the leadership transition and formed the new core leadership. By means of recruitment, cultivation and optimization, the Group will probe into the business logics, reform the corresponding performance appraisal and incentives, optimize the organizational structure, and build an outstanding management and professional team to create the core competitiveness for the Company’s future sustainable development.

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