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Short-selling agency questions Lenovo's denial of accusations


Lenovo Group (0992) was under attack by the short-selling agency Bucephalus Research. The short-selling agency issued a movie referring to the growth rate of Lenovo's receivables in the third quarter, which is faster than the growth rate of revenue.

Financial news

Written by: Zhang Weilun

2020-02-27 21:42

Last updated: 2020-02-27 21:43

Lenovo Group (0992) was under attack by the short-selling agency Bucephalus Research. The short-selling agency issued a movie that said Lenovo's account receivables grew at a faster rate than revenue in the third fiscal quarter. It doubted whether the company's profit growth was as stated in the quarterly report.

Lenovo released a report noting that a research company recently posted a video on social media that contained charges against the company's third quarter performance.

The company stated that it clearly denied the allegations on the company's financial statements in the film and emphasized that the preparation of the financial statements fully complied with all applicable accounting requirements.

Lenovo closed at 5.03 yuan, down 1.4%.

Earned $ 258 million in the third fiscal quarter, up 11% year-on-year

On Thursday (20th), the company announced the third fiscal quarter results as of the end of last year. The net profit was 258 million yuan (USD ‧ the same below), up 10.72% year-on-year.

The Group explained that the highest pre-tax profit recorded during the period was mainly due to the record pre-tax profit margins achieved in the personal computer and smart device business, while the mobile business remained profitable. The data center group business also continued to improve.

During the period, revenue rose 0.48% to 14.103 billion yuan; gross profit margin was 16.1%, an increase of 1.5 percentage points year-on-year. main. The group made 623 million yuan in the first nine months, a surge of 30.33% year-on-year, and revenue rose 2.06% to 40.137 billion yuan.

[Changer stock] Lenovo Group was slammed by 5.7%

Lenovo Group Short Selling Agency

Source: hk1

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