In the second half of last year, the famous up master Sima Nan questioned Lenovo, and the discussion continued into this year, and Lenovo did not respond to it. Many people suspect that Sima Nan touched the Porcelain Lenovo Group in order to obtain traffic, but a series of recent incidents show that the Lenovo Group may not be so innocent. The China Securities Regulatory Commission interviewed several applicants for Lenovo's application for listing on the Innovation Board in October last year and published a report that showed that Lenovo Group did have a big problem.
Lenovo 4 "sins"
1. The problem of Lenovo Group is that the proportion of research and development is seriously unreasonable.
Yang Yuanqing once expressed his grievances about the failure of the innovation board listing, saying that Lenovo Group's spending on innovation investment in the past three years is 30 billion yuan, that is, an average of 10 billion yuan per year. Many people will think that 10 billion is enough, but Lenovo's annual turnover is about 400 billion, but the amount of innovation investment has only reached 2.5% of the turnover, compared with the 100 billion yuan spent by China's national enterprise Huawei on innovation every year, it is really pitiful. Judging from this data, Lenovo's self-positioning as an innovative technology company is very outrageous.
2. The second problem of Lenovo is that there are too many executives and foreigners within the enterprise, and the nature of Lenovo's state-owned enterprises has changed.
Comparing Huawei with Lenovo, many people will have the illusion that Lenovo is a private company, and Huawei is very much like a state-owned enterprise. In fact, the opposite is true, Huawei is an authentic private enterprise, and Lenovo has a background in state-owned enterprises, but Lenovo gives us the feeling that it is not state-owned at all, first of all, Lenovo has changed the distribution of equity within the company, from the original completely held by the state to a mixed ownership, at this time The nature of Lenovo's enterprise has changed; then increased the shareholding ratio of outsiders, directly into a Sino-foreign joint venture multinational company.
Up to this point, the nature of Lenovo's state-owned enterprises is completely lost, but in the face of China's huge consumer market, in order to please users and constantly publicize the background of its state-owned enterprises, but in fact, most of the executives of Lenovo Group Company are old beauties, so some netizens directly call Lenovo a foreign company, which is the association of old beauties and not China's state-owned enterprises. Lenovo even set up a headquarters in New York and a headquarters in China, and Yang Yuanqing and Liu Chuanzhi spent more time in New York than in China.
3. The third problem of Lenovo is that it is keen to do finance, and the results of scientific and technological research and development are very few.
We see that Lenovo Group invests 10 billion yuan in scientific research every year, but has not found its breakthrough patents, and the patents applied for are irrelevant. Many netizens define Lenovo as a company like Foxconn, except that Lenovo's computer is pasted with its own trademark. Investing very little in scientific research, but very keen on the loan business, Lenovo relied on financial services to earn 11.75 billion yuan in the middle of the year, which even surpassed its main computer business at one point, making 700 million yuan more than selling computers. If from the perspective of pure profit, Lenovo is actually a financial company, and Liu Chuanzhi himself has a deep friendship with Ma Yun, and what the two people do is also very similar to how to engage in financial business in the guise of technology.
4. Lenovo's fourth problem is that the debt ratio is frighteningly high, reaching more than 90%, and the salaries of executives are also frighteningly high, which is a stark contrast.
In the 2020 Lenovo financial report, it can be seen that Lenovo has a high debt ratio, which is unimaginable in a company that produces computers as its main business, and this debt ratio appears in the real estate industry. We can take an example of Lenovo peers, Dell's debt ratio is only 44%, which is already very high, and Lenovo is more than twice as much as Dell.
In stark contrast, Lenovo's executives are all very rich, while 14 of the 27 executives are foreigners, just over half of them, and their salaries are frighteningly high, and each individual can get an annual salary of 100 million yuan, not including dividends. In the peers Hewlett-Packard and Dell, the salary of executives at this level is about 10 million, a ten-fold difference between the two.
As for Lenovo's other problems, such as Liu Chuanzhi's suspected embezzlement of state-owned assets, Lenovo's computers sold more expensive in China than abroad, etc. Do not need to be repeated, as Marx said: Philosophers always try to explain the world, but the problem is how to change the world. How do we change Lenovo as a company?
summary
Lenovo's problem is with the executives, with the people who control Lenovo, not with Lenovo itself. Objectively speaking, Lenovo is one of the pioneers of China's digital products going abroad, this company was once great, once in the hearts of the Chinese people is like the current Huawei, but now Lenovo is sick and needs to be treated. For a patient who has a sore on his hand, it is not necessary to chop his hand, he only needs to cut off this sore, we should sanction the Liu Chuanzhi family and its henchmen, only by beating them off, lenovo can be revived.
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