not vested
High salaries, low tech behind Lenovo's Star retreatLenovo's (0992) dramatic withdrawal of its listing application on the Shanghai Stock Exchange's Science and Technology Innovation Board was due to the fact that the PC maker is
not a high-tech enterprise and that it dishes out
extremely high executive salaries, according to mainland media.
The reports said that Lenovo had a very low proportion of R&D investment, and nearly 90 percent of its revenue comes from personal computers and mobile devices, which are not high-tech.
The company does not have the know-how for key technologies and core components like chips and processors are sourced from outside.
The prospectus showed that Lenovo Group's pre-tax profit for the 2020/21 fiscal year was 12 billion yuan (HK$14.48 billion), of which 934 million yuan was used for the salary payment of the listed group's 30 directors, executives and core technical personnel, which
exceeded 10 percent of its net profit, the reports said.
Its chairman and chief executive Yang Yuanqing's annual salary in the past three years was even higher than that of Tim Cook, the chief executive of Apple, which has the highest market capitalization of any listed company.
Lenovo ranked first among global PC manufacturers in 2020 with a market share of 24 percent, slightly surpassing the second-ranked HP (with a market share of 22.4 percent), data from International Data Corporation showed.
Source: The Standard
https://www.thestandard.com.hk/section- ... ar-retreat
It's all about "how much you made when you were right" & "how little you lost when you were wrong"