HONG KONG, Mar 28, 2025 - (ACN Newswire) - Legend Holdings Corporation (“Legend Holdings” or the “Company”; Stock Code: 3396.HK) announced the audited annual results for the year ended December 31, 2024 (the “Reporting Period”). The Company recorded revenue of RMB512,806 million, representing an 18% year-on-year increase; the net profit was RMB7,683 million; the net profit attributable to equity holders of the Company was RMB133 million. During the Reporting Period, Legend Holdings achieved a turnaround from loss to profit, primarily driven by a significant year-on-year growth in the performance of Lenovo in the diversified-industries operation segment, as well as improved investment business in the industrial incubations and investments segment thanks to the market rebound.

Mr. Li Peng, Executive Director and Chief Executive Officer of Legend Holdings, stated that in 2024, despite the challenges and opportunities brought by industrial restructuring and upgrading, China has steadily advanced high-quality development. Legend Holdings remained unwavering in its commitment to advancing new quality productive forces and executing its innovation-driven development strategy as core priorities. By maintaining strategic focus, reinforcing its industrial foundation, and enhancing its ability to manage risks, the Company ensured the robust and stable operation of its overall business through continuous technological innovation and management optimization. Additionally, the company capitalized on the technological boom, with its investments in cutting-edge fields delivering sustained value, resulting in a material year-on-year recovery in performance.

Legend Holdings actively transformed various factors into actual development results, further strengthening its industrial foundation. During the Reporting Period, Lenovo seized the opportunity of the rise of hybrid artificial intelligence, continuously enhancing its overall profitability. Benefiting from a new wave of PC replacements in the global market, Lenovo reinforced its market leadership in this industry, with a global market share of 24.3%. Specifically, AI PC accounted for 15% of sales in the Chinese PC market in the fourth quarter. As Lenovo further advanced its diversified and differentiated strategy, the non-PC revenue share reached a record high of 46%, reflecting continuous optimization of its business structure. Levima Advanced Materials remained committed to the innovation-driven development strategy, and continued to optimize its product mix and enhance operational management efficiency. Additionally, it strengthened its innovation ecosystem by further enhancing its R&D capabilities and technological reserves across key areas, including new energy materials, biomaterials, and electronic materials, and successfully launched new projects with strong operational efficiency.

Amid intensifying global competition in science and technology, Legend Holdings remains firmly committed to China’s national goal of “self-reliance and strength in science and technology”, focusing on key areas such as AI, integrated circuits, new energy, and advanced materials. By actively supporting China’s emerging pillar industries, the Company accelerates the cultivation of specialized and innovative enterprises while reinforcing domestic and controllable supply chains in critical industrial segments. Till now, Legend Holdings Family Group has nurtured 180 national specialized and innovative “little giants”.

Sci-Tech Innovation Leadership, Forward-Looking Deployment

Legend Holdings has consistently implemented the innovation-driven development strategy, achieving breakthroughs in cutting-edge and core technology localization. These efforts have contributed to fostering new quality productive forces and deepening the integration of innovation and industrial chains.

Artificial intelligence is becoming the core technology leading the new round of technological revolution and industrial transformation. In the AI segment, Lenovo has established a full-stack intelligent technology framework spanning “Device-Edge-Cloud-Network-Intelligence” and the hybrid AI solutions have formed a complete innovation ecosystem from personal smart devices to enterprise-level applications. Notably, the revolutionary Lenovo AI Now personalized intelligent agent has reached an internationally leading standard. The Company has also launched the world’s first DeepSeek training and inference integrated machine, matching the performance of top-tier international computing power, and the world’s first AI PC with DeepSeek models deployed on the device. These innovations create a rich range of “one personal AI, multiple devices”approach application scenarios. Additionally, Legend Holdings has established an ecological advantage in the AI field. Surrounding the AI “device, technology, model, platform and application”, the company invested in over 270 AI-related companies, making it the investment institution with the most complete system, the largest number of companies, and the longest duration in the AI investment field. Among them, companies like Horizon Robotics  (9660.HK), Black Sesame International Holding Limited , (2533.HK), and Pony.ai (PONY.O), have successfully gone public in 2024, and many other companies are in the listing guidance phase. Meanwhile, the Company continued to invest in technological innovation, particularly in AI, with R&D expenses reaching a record high of RMB15.8 billion.

During the Reporting Period, driven by the “AI+” strategy, Legend Holdings Family Group has established a leading and exemplary role in multiple vertical fields: AI+education, AI+healthcare, AI+manufacturing and so on, driving traditional enterprises enhance efficiency while accelerating industrial digitalization and intelligent transformation to inject strong momentum into the high-quality development of the real economy.

Emerging and future-oriented industries, characterized by dynamic innovation, technology intensity, and vast growth potential, play a pivotal role in national economic and social development and industrial structure optimization, serving as the primary frontier for cultivating new quality productive forces. During the Reporting Period, Legend Holdings’ investment platforms further strengthened their focus on these industries, initiating more than a hundred new investment projects spanning multiple key areas such as artificial intelligence, quantum computing, biotechnology, new energy, semiconductor chips, robotics, big data and cloud computing, medical and healthcare services, and new materials. These efforts have not only assisted numerous startups in overcoming technological bottlenecks, achieving product innovation, and commercializing their products, but also facilitated technological advancements and upgrades in related industries. Notably, in the high-profile embodied AI sector, Legend Holdings has built a portfolio of nearly 40 invested companies.

Commitment as Foundation, Responsibility as Core

Corporate social responsibility (CSR) constitutes an integral component of Legend Holdings’ overarching strategy, with systematic, long-term commitments focused on technological innovation and rural revitalization.

Established in 2008, the CEO Training Program of Legend Star is dedicated to advancing the integration of technological and industrial innovation in China by providing free, public-benefit training for leaders in tech entrepreneurship, thereby facilitating more effective technology commercialization. Since its establishment, Legend Holdings has consistently invested tens of millions of RMB annually in the program. To date, it has admitted 1,364 outstanding entrepreneurs, including 855 high-tech enterprises spanning semiconductors, AI, biopharmaceuticals, new energy, and advanced materials. As of the end of 2024, participant companies have raised an aggregate financing amount exceeding RMB 420 billion, with an aggregate market capitalization surpassing RMB1.6 trillion, while generating over 450,000 jobs.

The “Legend Enterprising Class”scholarship program, targeting underdeveloped regions to provide academic and living support for high school students from low-income families, has been running for 20 years, enabling over thousands of students to transform their lives through education. Concurrently, Legend Holdings partnered with the China Women's Development Foundation to establish the “Revolving Loans for Mothers project”, a public-benefit initiative that has provided interest-free loans and targeted poverty-alleviation funding to rural women for years. The program spans four provinces, and boosts household incomes for local farmers. The aforementioned initiatives have been consistently contributing to talent development and industrial growth in rural revitalization.

Furthermore, Legend Holdings has deeply integrated ESG principles into its corporate development strategy. Lenovo has achieved MSCI AAA rating for three consecutive years, making it the only company in China’s non-green industry. It has also collaborated with China’s Ministry of Ecology and Environment to build an AI-driven application platform, contributing technological solutions to global challenges such as climate change and biodiversity conservation. Meanwhile, Levima Advanced Materials has consistently focused on developing green industries including EVA photovoltaic adhesive film materials, biodegradable materials, and lithium-ion battery separator materials, actively supporting for building a “Beautiful China.”

Advance to Stabilize, Innovate with Integrity

Looking ahead, Legend Holdings will adhere to its guiding principle of “pursuing progress while ensuring stability” and “upholding fundamental principles, breaking new ground”. The company will accelerate the development of new quality productive forces, and leverage technological innovation to drive high quality development. Legend Holdings will use artificial intelligence as a strategic lever to further deepen its full-stack AI deployment, facilitate the deep integration of AI with the real economy, and cultivate strategic emerging industries and future-oriented industries. The company also aims to establish a benchmark for the green computing industrial chain, contributing to both digital economy and green transformation progress. Through increasing investment in R&D, and driving the industrialization of scientific achievements, Legend Holdings will empower critical technological breakthroughs to further strengthen industrial chain security.

Mr. Ning Min, Chairman and Executive Director of Legend Holdings, stated that reflecting on Legend’s 40-year development journey, with guidance and support from various stakeholders and riding the wave of the reform and opening-up, Legenders have made unremitting efforts for China’s economic growth and high-tech industrialization while achieving notable accomplishments. Going forward, Legend Holdings will continue to steadfastly implement its innovation-driven development strategy, remain committed to its original aspiration of revitalizing the country through its industries, carry forward the entrepreneurial spirit and passion, vigorously promote the development of new quality productive forces, conscientiously practice the people-centered development philosophy, actively fulfill social responsibilities, and, through its own growth, make greater contributions to Chinese modernization.

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