Yang borrows money to buy back heavy repayment pressure

Comic 勾犇 yesterday, Lenovo Group CEO Yang revealed that most of the money he bought from nearly 800 million shares came from debt, and was saddled with a huge loan repayment risk in the first quarter of the 2011/2012 financial year. Focus Yang: Most of the money comes from borrowing this June 17, Lenovo Group issued a notice that the company's CEO (chief executive) Yang from Lenovo Group parent company Lenovo Holdings bought 797 million shares of Lenovo Group's total share capital of 8%, so that Yang's holdings reached 8.7%.　　Lenovo Holdings accounted for 34.82% per cent of the shares. The price of Mr Yang's shares at the time was HK $3.95 per share and the transaction amount was HK $3.15 billion (about 403.8 million US dollars), which was a discount of 5.2% on the closing price of Lenovo Group on the same day (June 17).　　However, neither Yang nor Lenovo had made any statement about the huge source of funding for the purchase of shares. In yesterday's earnings communication meeting, in a number of media inquiries, Yang revealed that he bought nearly 800 million shares of the company's shares of money from the debt, and saddled with the risk of huge repayment, "my personal property certainly not so much."　　He declined to give more details when reporters asked further questions about debt arrangements and whether there was a lock-up period for buying shares in their own company.　　Mr Liu: It has sparked speculation that Mr Yang's huge increase in shares in Lenovo two months ago, and the absence of a source of huge increases in capital, has been in support of management as a corporate owner.　　At yesterday's earnings meeting, Lenovo chairman Liu used a lot of space to express his affirmation of Mr Yang and his endorsement of the act of buying Lenovo's 800 million shares in his personal name. Mr Liu said: "Yang is under great pressure to buy shares in his personal name, but Lenovo's performance today shows that he has succeeded, resisted the pressure and led Lenovo to a new glory." This has not been taken seriously by investors, but I think it is very important. We should encourage Lenovo's top management to be a real master of Lenovo in both material and spiritual sense. We have to build a material stage for them, which is one of the important factors in the success of an enterprise.　　"Lenovo already has an excellent management team with a good strategy and a strong ability to execute," Mr Liu said.　　Bottom area risk controllable risk of purchase price yesterday, Lenovo's share price fell to HK $4.58 per share, compared with the 3.95 Hong Kong dollar bid for Yang on June 17, which, in exactly two months ' time, earned a total of HK $0.63 per share, with a surplus of about HK $502 million. Analysts in the industry, even if Yang has the accumulation of sky-high salary (according to the Chinese version of Forbes, August 5, the 2011 China listed CEO pay list, Yang to occupy the top of the 78.72 million yuan in annual salary), it is impossible to take out 3.15 billion Hong Kong dollars, self-financing huge sums of moneyThe big head may be dependent on the consortium to borrow, and only the Lenovo Group stock prices continue to rise to allow the Yang's debt service to protect.　　However, in the past 52 weeks, Lenovo Group's highest price of HK $5.72 per share, the lowest price of HK $3.90 per share, Yang's purchase price of HK $3.95 per share basically belongs to the bottom area. Net profit doubled in first quarter yesterday, Lenovo Group released its first quarterly financial report for fiscal year 2011-2012, Lenovo Group in the first quarter to achieve sales of 5.92 billion U.S. dollars, compared with the same period last year 5.15 billion U.S. dollar growth of 15%　　To achieve a net profit of USD 108 million, up 98% from the same period last year, and achieve a year-on-year growth of 15% per cent in combined sales, to $5.9 billion trillion, a record high. The mobile interconnection service is the direction of Lenovo Group's recent transformation from a single PC hardware manufacturer. Yesterday's earnings showed that the newly established mobile interconnection business unit in the reporting period revenue of 215 million U.S. dollars, up 18.2%, accounting for Lenovo Group's overall sales share of 3.6%. Sales of its operations were mainly from Chinese handset sales, with traditional handset sales up 33.7% per cent year-on-year, while the sales of the 3G smartphone "le phone" were also higher than in the previous quarter.　　At the same time, in the end of March this year, the launch of Le Pad in the current quarter sales reached 80,000 units.　　Yang said that any company that can push the Lenovo Group's PC business to grow, and at a reasonable price, does not rule out a takeover goal. Newspaper reporter Jiang