Lenovo 0992

Re: Lenovo 0992

Postby winston » Thu Aug 13, 2015 2:42 pm

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<Post-Result>LENOVO GROUP Plunges 7% as 1Q Profit Drops More Than Half with Possible Job Cuts

LENOVO GROUP (00992.HK)?s first quarter profit declined by more than half and the group planned to cut 3,200 non-manufacturing staff worldwide.

The stock plummeted about 7% to $7.88 this morning, hitting nearly 1.5-year low, with volume rising to 48.61 million shares.


Source: AAStocks Financial News
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Re: Lenovo 0992

Postby winston » Thu Aug 13, 2015 2:43 pm

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LENOVO GROUP: RMB Depreciation Is Positive for Export

LENOVO GROUP (00992.HK) chief financial officer Wong Wai Ming in a tele-conference said that RMB depreciation has mixed impacts on China's economy since China's economy is export-oriented and the devaluation of currency may stimulate exports.

However, the rising import price may bring negative impacts to internal demand.

The chief financial officer mentioned that the group will continue to implement hedging policies for currency in the future.


Source: AAStocks Financial News
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Re: Lenovo 0992

Postby winston » Thu Aug 13, 2015 2:44 pm

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LENOVO GROUP (00992.HK) Confident of Mobile Biz Swinging into Profit in 2-3 Quarters

Yang Yuan Qing, the chairman and chief executive officer in LENOVO GROUP (00992.HK), mentioned in the first quarter results conference call that the group is confident of its mobile business swinging into profit in the coming 2 to 3 quarters and plans to merge its Lenovo and Motorola mobile brands.

Source: AAStocks Financial News
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Re: Lenovo 0992

Postby winston » Thu Aug 13, 2015 2:45 pm

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LENOVO GROUP (00992.HK) Plans to Cut 3,200 Worldwide Jobs

Yang Yuan Qing, the chairman and chief executive office in LENOVO GROUP (00992.HK), mentioned in the 1Q results teleconference that the group is facing major challenges in the major markets.

The global personal computer and tablet markets are slowing down and the growth in smartphone markets (especially in China) is easing as well due to more competitive environment.

The company planned to reduce its costs in the second half of this fiscal year by approximately US$650 million.

One of the measures is to cut approximately 3,200 non-manufacturing jobs all over the world.

Source: AAStocks Financial News
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Re: Lenovo 0992

Postby winston » Fri Aug 14, 2015 5:21 am

Lenovo Q1 profit plunges 51pc

Lenovo Group (0992) shares fell to a two-year low yesterday after the firm posted a 51 percent drop in net profit during the first quarter and said it would cut 3,200 staff.

The shares dropped 9.1 percent to close at HK$7.70, the lowest since September 2013. The stock is down 25 percent this year, the third-worst performance on the benchmark Hang Seng Index.

Revenue for the three months to June 30 rose 3 percent from a year back to US$10.7 billion, compared with the US$11.5 billion average of analyst estimates.

Net income for the quarter dropped 51 percent to US$105 million (HK$819 million), and diluted earnings per share fell to 94 US cents.

Lenovo said it would cut 5 percent of its workforce and reduce its reliance on China which made up 30 percent of its revenue as the world's second-biggest economy is growing at a weak pace.

"This was the toughest quarter since 2008 for the PC market," chairman Yang Yuanqing said yesterday. "We still think we should react to the market changes to reduce fixed costs."

About 3,200 non-manufacturing jobs will be cut from a total workforce of 60,000, Lenovo said.

The cuts will save US$1.35 billion annually.

The majority of its cost cuts will come from a move to integrate the Motorola unit with Lenovo's legacy phone business, Yang said. The cuts will save US$850 million annually at the unit.

"The restructuring is indicative that they are lowering their overall expectations in the smartphone business," said Alberto Moel, an analyst at Sanford C Bernstein.

Lenovo will shift its smartphone focus away from China, where some new vendors are "playing irrationally," Yang said.

The slump in China's currency to a four-year low this week may erode profit margins, wrote analysts at Jefferies Group, led by Ken Hui.

Lenovo sources some computer components in dollars, so a 1 percent drop in the yuan's value can cause gross margin to fall by 10 basis points to 20 basis points, they wrote.

Source: BLOOMBERG
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Re: Lenovo 0992

Postby winston » Sun Oct 18, 2015 8:07 pm

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October 12, 2015

Lenovo Soars On PC Market Share Gain: Nomura Sees 50% Upside By Shuli Ren

PC and smartphone maker Lenovo Group (992.Hong Kong/LNVGY) surged 7.3% in Hong Kong after market research firm Gartner said Lenovo’s global PC market share passed 20% for the first time.

In the third-quarter, Lenovo shipped almost 15 million PC units, a 11.4% jump from the second-quarter and at a faster pace than its global peers.

Hewlett-Packard (HPQ), for instance, grew 10.6% while Dell‘s sales increased by only 6.2%. Global shipments grew 8.2%. The third quarter tends to be seasonally strong.

To be sure, even Lenovo can’t rescue the decline of PC usage. Year-on-year, its shipments fell 4% but this number reads much better than the 7.7% industry-wide decline.

“This data point should resolve investors’ concerns on the PC side, and it indicates positive sentiment for 4Q15 thanks to the decline in channel inventory,” wrote Nomura Securities‘ analyst Leping Huang.

Nomura reaffirmed its price target of 11.50 Hong Kong dollars, another 53% upside from where Lenovo is right now.

Huang wrote:

Lenovo’s current share price (below HKD7.0) implies the market is assuming the company will fully write off goodwill for Moto (USD1.5bn), plus further weakness in the PC market…

We believe Lenovo’s recent layoffs and cost-cutting plan should help its smartphone business to return to break-even in 3QFY16.

In addition, we also note that Legend Holdings (3396 HK, NR) purchased 1m Lenovo shares on 2 October at HKD6.655 on average according to HKEX, reflecting the parent co’s confidence in the company in our view.

Source: Barron's Asia
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Re: Lenovo 0992

Postby behappyalways » Sat Nov 14, 2015 10:52 am

The world's biggest PC maker is in deep trouble
http://finance.yahoo.com/news/worlds-bi ... 08450.html
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Re: Lenovo 0992

Postby winston » Sat Nov 14, 2015 6:07 pm

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Lenovo: Is The Worst Over?

By Shuli Ren

Source: Barron's Asia

http://blogs.barrons.com/asiastocks/201 ... orst-over/
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Re: Lenovo 0992

Postby winston » Mon Nov 30, 2015 6:46 pm

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Citi Reiterates Lenovo Group at Buy; Expects Mobile Biz to Reach Breakeven in Mid-2016

Citigroup, in its report, reiterated LENOVO GROUP (00992.HK) +0.070 (+0.861%) Short selling $111.20M; Ratio 18.947% at Buy with a target price of $11.8.

The broker kept its other forecasts unchanged but believed the earnings surprise, if any, should be on the upside.

That was mainly attributable to the increased contribution from LENOVO GROUP's server and smartphone business and the improving operational efficiency.

The stock is currently trading at 10.7x FY2017 P/E.

The company reduced the number of its mobile models and suspended the non-profitable lower-end models.

These measures should benefit the overall ASP. In the broker's opinion, the company's mobile business should reach breakeven (OP level) in Jun-16 quarter.

The operating results in the coming two quarters should improve significantly on a quarterly basis because of less operating expenditure.

Source: AAStocks Financial News
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Re: Lenovo 0992

Postby winston » Mon Nov 30, 2015 6:47 pm

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LENOVO GROUP (00992.HK) Targets to Produce 10M Smartphones in India Next Year

2015/11/26

LENOVO GROUP (00992.HK) +0.070 (+0.861%) Short selling $111.20M; Ratio 18.947% targeted to increase its annual output of smartphones in India from current 6 million to 10 million units next year, India's The Economic Times reported, aiming at becoming the second largest mobile brand in the country.

Source: AAStocks Financial News
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