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ownership structure change Lenovo: Chinese Academy of Sciences Liu holding 36% 3.4%
Asia Standard share transfer time: 2009.
Lenovo shareholding structure of the recent changes, the new ownership structure Legend Holdings is: Chinese Academy of State-owned Assets Management Co., Ltd. 36%, still the largest shareholder of Legend Holdings; Legend Holdings ESOP will account for 35%; China Oceanwide account 29%. This means that Legend Holdings ESOP will add "foreign aid" private enterprises in Asia Standard Group, seized control and decision-making of Legend Holdings, Lenovo Holdings actually entered the era of privatization.
As we all know, Lenovo Group from scratch, from small to large, are inseparable team with Liu. Without Liu team deliberately innovation, open up without their hard, hard work, Liu that a group of people or can some achievements in the Chinese Academy of Sciences computer, but Lenovo is absolutely impossible there. But when in 1994, Liu suggested that 55% of the assets of the association owned by the state and 45% to the employees, the Ministry of Finance and State Administration of capital does not agree. It took many years until, Liu managed to make the best use only 35% of the bonus to employees converted to equity.
In fact, such a thing in China is still a lot. Reform and opening up three decades, there have been many many personal efforts to create up new businesses, but because of its born out of state-owned enterprises, property ownership of the new company will become state-owned enterprises, in fact, the birth and maternal-fetal companies in this new business growth the process contribute little. It is really unfair to entrepreneurs and real owner of those new businesses, not only that, this obscure property ownership is greatly dampened people's enthusiasm for innovation.
It now appears, Liu introduction of "foreign aid" private association to change the ownership structure, is not primarily correct these inequities, and its main purpose is to let the management team of business management decision-making power and control of the company to adapt in order to better the development of enterprises especially Lenovo is at a difficult time.
Liu specifically mentioned "We do not want to do a family family business." Disadvantages of family businesses who are already well known, can raise Liu has chosen to do the family business. I think that this is actually compare in terms of state-owned enterprises. One of the serious drawbacks of state-owned enterprises under the rigid system, is the lack of responsibility. The family business is generally highly motivated sense of responsibility, especially their successors also very strong sense of responsibility motivated. This is particularly important for the current Lenovo Group, because Liu has been 65 years old.
State-owned private enterprises relatively speaking, is not only popular low efficiency, even with high monopoly profits, and state and national interests are still rare relationship. It is reported that ICBC, PetroChina, China Mobile three companies among the top 10 profitable enterprises, more than one hundred billion yuan of profits, profits paid to the state's highest proportion of only 10%. At present, the central enterprises more than ninety percent of profits are not paid. And that is expressly provided SASAC, the central enterprises profitable pay only 10%.
As such circumstances, I think that, in order to develop healthy and lively lasting Chinese economy, it is necessary to relax the private capital investment in the field of the state's money to use the national body. Now not only the original monopoly has not been broken, but "the country back" phenomenon has continued to occur, which is not justified.
Of course, today, China's market environment is far from perfect, private enterprises often subjected to various discriminatory obstacles, preserve a modicum of state-owned shares it is also beneficial in the enterprise, but let private capital stock is greater than the state-owned shares, rather than private capital flooded in state-owned capital, the better to play to the advantages of private. In this sense, Lenovo now accounts for four percent less than the state-owned shareholding structure, in today's environment is perhaps the most appropriate.