Liu’s business as if the story has become a textbook (Han Lianwei / photo)
Sina Technology News June 1 message Lenovo Group in the surrender of a return to profitability growth in the annual report, in the face interview with Sina science and technology, Liu With more time to talk about the topic of innovation and entrepreneurship. In Liu opinion, venture capitalist has become the main part of the Legend Holdings. Turning to the listed Legend Holdings, Liu believes that listing will enhance the core managerial ownership.
Video: Exclusive Interview with Liu media Source: Sina Technology
will promote the traditional areas of entrepreneurship
Liu Lenovo Holdings business is divided into three pieces. The first one is the Lenovo Group and its Raycom these core industries, and the second block is the investment business, including the Hony Capital and Legend Capital, the third block is a business incubator, angel investment and public areas.
2010, the association set up a 400 million yuan holding angel investment fund, planned it after 5 years, mainly used to further support the development of technology start-ups, while the Angel Fund, all proceeds will be re-used for an angel investment. In addition, Legend Holdings is trying to run \
Liu said, in addition to promoting high-tech entrepreneurs, Legend Holdings will later try to use greater force to promote the traditional areas of business.
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When asked whether this is Legend Holdings to expand more industry space, Liu said, did not rule out this possibility, but this part is still based mainly public.
called on the Government to maintain the consistency of economic policy run
5 13, the State Council issued \The 36 policy. Liu hopes that private enterprises to enter the monopolized industry, the country needs to resolve bank loans, private and public financing, and many practical problems.
Liu Youyi real estate, for example, calls for national consistency in the industrial policy in order to avoid the development of private economy \
Liu actively discussed the topic of real estate regulation. He wants the state to build security in the strong type of housing, low-income people to solve the housing problem, you can let go of the non-security housing investment control.
Legend Holdings, which owns real estate industry based Raycom. Lenovo Group in communication at last week’s earnings report, Lenovo’s management had indicated that, real estate and stock market uncertainty, or will be Lenovo’s PC business in China to bring pressure.
for Lenovo’s development, Liu stressed that the company’s management will have more international face in there. The international face of these more \He promised, Lenovo will also offer foreign management personnel \
Legend Holdings to strengthen the management of listed shares
Legend Holdings planned 5 to 7 years, listed in Hong Kong. The current structure is divided into shares of Legend Holdings, on behalf of Chinese Academy of Sciences of the National Science controlling stake of 36%, 35% of ESOP Association, last year’s Legend Holdings shares of Asia Standard Group accounted for 29%.
Liu expressed the hope that by listing with stable financing, on the other hand, it is hoped to strengthen the core of the management shares of Legend Holdings.
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according to Liu’s statement, Lenovo Holdings will receive from the new management of Asia Standard and employee stock ownership association will purchase the shares.
and why the need for 5 to 7 years, Liu explained, \market, or listed rely on it? \Raycom Lenovo Holdings will be listed first on the argument. (Wen-yuan)
following interview text:
SAN Wen-Yuan: Members Sina’s friends Hello everybody, today’s SAN face to face, I am pleased to go to our old friend, Lenovo Mr. Liu, Chairman holding the exchange with you.
public and business incubation into one of three major areas of Legend Holdings
Drifting talked a lot today on the topic of entrepreneurship, promote technological innovation and Legend Holdings next most important planning project What?
Liu: Legend is his own business is divided into three blocks, including a large piece of business is to promote the public welfare-oriented activities, coupled with our incubator and angel investment.
public good as Legend of the Star class, the association is dedicated to the Star class a number of technical institutions to prepare a number of researchers, there are good scientific research,Coach Wallets, training of personnel on them, is not to become a CEO, or how they like to sell their good achievements in scientific research and so on.
doing, we find that all is still very popular, but to all over after all that hope that we will rapidly expand. In fact our difficulties, that is, at most, we went to the third phase of accomplishing the two classes, because this is a great effort to be with the human, but in many areas with large lecture hall ways, such as hundreds of thousands of science and technology business persons, entrepreneurs and even ordinary, traditional industries, entrepreneurs, after the compressed course, are introduced. It also can be combined with a two-day short course run, for example, sub-34 course, to speak out the most important elements, combined with the other is an angel investment to keep up, so probably will be on the local high-tech enterprises , will promote the development of private enterprises.
addition, we may be the third part of this piece, the idea will be later more forces to promote common with the traditional areas of business. Because we do in countries, cities and towns is the solution to our national consumption of an important content of urbanization beyond what the local migrant workers will live in a more stable number, to come to town inside, consumption will be great, but solve the employment problem is a major problem, in which among medium-sized and small towns inside, how to do business, will be more important question, we think we are or that we have the responsibility to support Yuan Yi this work is the public part of the results.
from the association after it large enough, in fact, social responsibility is unavoidable, the social responsibility which we should respect for example to make their own effort? I think the best aspect is that we do something beyond that of financial outside 现在 can actually put together our professional integration, is to do some Gongzuo in these areas, now being actively 筹备.
Sina technology: in fact each of the local government of his enthusiasm for this investment is very high, this future is not a thinking, cooperation with local governments to promote something?
Liu: Yes, say what we do or what classes, to have some costs, such as last year we hold an associate of the star class probably more than 10 million of investment, but even to do this class and the large lecture hall for one year to spend the money, but you in one place and the government worked well, in choosing a good project, in fact, this will have a good return is a win-win process. I think this is really very good.
national policy to promote private economic development should be consistent
Sina Technology: In fact, we just have some friends in asking,Coach Handbags, he said that Lenovo is now so successful, maybe he has at home in leading enterprises, and his various upstream and downstream industries have a very successful cooperation, Lenovo now is not calling for a fair and just market order, or is called innovative in this respect will not as there is enthusiasm and momentum?
Liu: No, because it should be better equipped to do such things. At first, he continued to own a business survival and development is on a very prominent position, and I think I am realistic that I started the process of association, to their own business and staff service is good, let us employees have a better standard of living, like Bill Gates, Buffett as their early attention on the public good, a lot of their profits to accumulate the money into the community, I think my approach is, to me their should be a little more even if some of the things I would prefer to be allocated to our employees, so that everyone more active,ghd, this is something we need to do.
now the company has done investment business since then, combined with Lenovo’s business more stable and our Raycom as the real estate business better and better, which stabilized after I think we will, so there will be a special energy and ability to mobilize people to do the public good, so I think it is time. So I think that if we call the three services linked to public welfare, this piece of angel investment, venture capital and private equity fund future investment in PE can be connected up to an area which combine to carry out investment work, go to the local some help entrepreneurs make the local really think there are benefits from, and more willing to support us, I think this thing is more energy than before and more able to do, passion is definitely lean.
Sina technology: You said that very important area in the traditional field of promoting business in the traditional, you just said is a public act, there is not an association will have long-term development, may looking for some opportunities to consider in it?
Liu: There is, but we still in this thing, first made public in the first mainly in that there are natural, some like the angel investment which will find the appropriate good We would also like to clarify these two, otherwise you have to first angel investment, mainly in order to get good projects, this time the practice may be different, we first, our internal discussions, the first set or set to public welfare demands the first place, then this will naturally be found among the (good chance), do it in this way.
Sina technology: you can not use short words to those who might they want your help to entrepreneurs, what you expect them?
Liu: business entrepreneurs are really the way to go, I really hope that more and more they want to clear the road for business or difficult path, will encounter a variety of different kind of difficulty, where he was unsuccessful because side, some people may really be congenital lattice there, he was not suitable for business, for example, he felt a great passion, but his uncertain Mind, I met this he do this time, I feel good other projects, other projects to do other then that good, as such, he is easy to do this today, tomorrow to do that.
another in times of difficulties, setbacks, when the will is strong, this is the will of the firm’s problems, which are cells with certain congenital relations, who did not own their own know, I am working not know, I think I am very fit, really done after the discovery, could not bear enormous pressure, that is to be considered good, because after the failure of business will you own some of the funds have been something, funds it will be some losses, you first need to consider as well, I think this is the first.
Second, does the main thing is to strengthen the learning ability, in their business process, to keep to sum up,ghd hair straighteners, we should listen more and understand how others do, go read others how to do it, but more importantly, in conjunction with their situation, to come up with ways so that the process of several major business difficulties, as their own business when this man is suitable to solve the financing problem,swarovski jewelry, and then is to to solve management problems, management problems is, how to make their business operation in the sample can be confused and profoundly, to do smooth,cheap mlb baseball jerseys, and a is its own team, how can the internal cohesion is very confused, they all belong to management issues.
Sina technology: you start some of the above mentioned topics, in fact, we would like to talk about the topic of industry environment, the recent State Council also issued a policy to promote private economic development, do you think the current Chinese private What kind of moment the economy went to the next step down the road should pay attention to what issues, including state support in terms of what kind?
Liu: China’s private economy should be said that the reform and opening up in recent years, played a major role in promoting the country’s economy, the market of our country’s economic performance, does have a very big push In the following development, it may new the 36 allowed to enter private Jing Ji Dao Henduo monopolistic sector, I estimate there Bian may have a process, which means that there is a how to implement policies and regulations Benshenjuti problem.
there is really a state-owned enterprises after being squeezed, how they deal with, because they have a large number of employees, relatively speaking, the competitiveness of private enterprises will be more that the reason is that they competitive industry to work when they would cost accounting, business and entrepreneurial spirit will have somewhat the same, really pulled great, but the state-owned enterprises which have a great team, this time what will happen in the end, the State Is this a deep consideration had really doing, what problems will occur, this is a.
second, really need to do when the monopoly industries which probably belong to the investment in these areas than the larger, and the return period may be longer that in this case, private enterprise can borrow from the bank shall, or can not have more private equity investments to the side, in the stock market can gather to capital, these are some really look inside to do some practical problems.
there is a problem, national policies should be consistent, such as Real estate industry, real estate is now I feel that the development of a major bottleneck, must first address those such as most Xuyaozhufang Zi Those people, these young people, you give them to solve even simple house rough place, but must let them have a place to live, or low-cost solution to this form of housing because there is no room rental right, so you have the money that , you always want to use the right to invest in will not work, this is actually come up with money to state subsidies.
took the money then, should be set aside to do such as low-rent, let people live, on the other part may be open at this time. After opening up, what good is it? As long as people are investing in, but casual bar, the most basic guarantee of people have been guaranteed. Why do I mention this, because the real estate industry and other relations too much, and too many industry contacts, you really want to shrink down and later brought other problems. You like building materials, cement and steel, electricity, etc. are all connected in one.
Sina Technology: Legend of communication management in the financial report was also mentioned that PC demand will be affected by the real estate market uncertainty has an influence.
Liu: even on the PC will impact the demand, he will have a direct impact on the stock market, so we want to ensure that Gengzhe Ownership later, even we think of the so-called affordable housing, not allow reselling, you sell it to one who lived, can not sell, can not become a means of adding value. In this case the Government, is equal to the loss of some land, build it cheap, and some stayed after the other to let go, someone is willing to invest in a house, he bought four sets, he used as an investment, you do not bother him anyway on not hurt the national economy is good, so you can let go of some. Possible to compare these things that can think a little more system, which makes the enterprise in the development strategy for the future when he does not have high and low, to be otherwise, business is still and there is still a problem.
Liu look forward to the association after the listing of the status of holding management more masters (Han Lianwei / photo)
Lenovo Holding will strengthen the management of host status
Sina technology: today there are many media said that Legend Holdings plans listed in Hong Kong 57 years, can give us more to talk about the listing of, and its timetable, and his steps, in your mind about what kind of arrangement.
Liu: Legend in the strategic development of the time, to its business into three parts, the first part, we call the operation called core assets, core assets, the meaning of words, we call Lenovo core assets, he begins to develop, no matter how well done, we will not sell his shares, we are willing to serve the country industry, it is our asset, in addition to this, we must also invest, Apart from this there real estate, financial Branch wise it is our so several areas. These areas do we want to make it bigger, so that a considerable tonnage, is to have investment, coupled with our management to do it and this is the first large.
second large, is our own investment, as we have Hony Capital, a Legend Capital, we will be his greatest LP (limited partner), his fund raising when we account for 20% to 25% of them always is the case.
them in their project which we will vote with the vote, this is our big revenue source, and we are their GP (general partner) to participate in their management, dividends, etc. from them This is our piece.
today, just think about the core assets where the money came from, the main one is that two, and Legend Capital, Hony done nearly two decades to accumulate a large amount of money we have, we The fixed assets of investment funds, making the source of our money is solid, this is the second block.
third block is I just introduced, the association of this star made public, three large connected together. Why should a listed company? Solve two problems, the first problem is that after doing core assets to invest, you can not completely rely on the kind of return on investment after, but to raise money from the stock market after a more stable source of our money, and I believe this a larger and larger, this is a large.
There is also a listing of important reasons, I do not deny that the core of management in which Lenovo, Lenovo is now the core of the new management is not the business of those who follow my old colleague, and They will do the core management, they must have a master’s consciousness and feelings, can we stay in business enterprise Haohao De develop a good strategy, but how can the owner as it?
I think there are two parts, a part of them really want to have some options here, the proportion of size is not home, though a small point, 2%, 3%, by one point a few can, big business a few percent is not a small point, another culture, make up the company in general, and this time they will have the feeling of the master, but the stock from where come from? We may be with us now the three shareholders, we Zhexie seniors for, we introduce Zai Qing Kuang said to them, Hou Lai young people, they need to share, Da Jia willing to give up a piece, we held off everyone says yes to the General Assembly .
Sina technology: They will sell part?
Liu: Asia Standard also is a private enterprise, the time had come, Asia Standard General Lu generous, he is deeply aware of private enterprises is not the master of masters and what it is like that in the future he is willing to make a piece out, so have a stake in making, they have to borrow money to buy, buy after the market after the account that they can also make their own masters sitting firmly position, which is Lenovo’s development When is the property right transformation.
Why 57 years time, you really only 57 years, we have a new piece of core assets to build was 7788, can can make it, the market value of listed stock, or listed rely then,supra footwear, Lenovo has been to market, and will come to that time, Raycom has been to Landmark city, and this time he supported the listing of the price-earnings ratio would be the problem.
Sina technology: the last small issue is from our friends, and Liu Zong has been talk that a business must have a master, should have a long-term vision when the family that you think the future Lenovo there will be more in the management of international face inside?
Liu: Lenovo Group itself, should have. Because he is an international business, Lenovo will definitely not be reconciled in the world when the fourth in this position must have a higher rank, and hope to have a greater international perspective throughout the move, if all China’s face it, foreigners can not think you are an international company.
Sina technology: how to ensure their long-term vision.
Liu: the same culture so that they feel they are playing out from the company,silver jewelry, they have master status, have the right to speak, in the Legend Group which should also be thinking of ways to increase their equity ratio.
Yang because he is the master, he is now when he is ordered to take Lenovo dry, his mind is very broad, you are a master, you will not care about the fuss that his treatment of international employees, the backbone Staff I think he was very cohesive, long ago, when we listen to the summing up of several international key account when talking about how they like a good rally around Yang and how positive ideas, what are kind of treatment, etc., so in this regard, we still winter ridge confidence, my job is to convince the board of directors, major shareholders come out even thinking of ways to improve the management of core equity ratio.
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