Lenovo (992 HK): Issues to consider
Update: Lenovo Q3 2020 results ++
Update: Lenovo 1H 2020 results
Update: Lenovo 1H 2018 results
Update: Lenovo Q1 2018 results
Update: Lenovo FY 2016/17 results
Background
Lenovo moved into the big time with the purchase and successful operation of IBM’s Thinkpad business. Since then their acquisitions have yet to show a similar level of success. At the last results announcement, the company reported a net cash position and talked optimistically about its progress. The recent debt raising, to pay off Google, was a success suggesting that its lenders have been persuaded that the company is turning around. However, having reviewed Lenovo’s accounts, we believe that there are some intriguing issues that Lenovo’s current level of disclosure does little to clarify. We tried to contact IR about these issues but received no response. Issues to consider Leverage
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Important
This note is written with the sole purpose of highlighting some issues we think are important.
It is not a recommendation to BUY or SELL any of the securities mentioned and should not be taken as such.
Readers should form their own opinions about the company and seek appropriate advice.
Please read the Bucephalus disclaimer.
This note is written with the sole purpose of highlighting some issues we think are important.
It is not a recommendation to BUY or SELL any of the securities mentioned and should not be taken as such.
Readers should form their own opinions about the company and seek appropriate advice.
Please read the Bucephalus disclaimer.