Legend Holdings Released Interim Report
Legend Holdings, one of China’s largest investment holding conglomerates, released its 2018 interim report on Aug. 29. During the reporting period, it has amassed a total revenue of 156.549 billion yuan, a year-on-year growth of 10%. The total income and returns of the financial investment sector has reached 469 million yuan with a net profit of 429 million yuan.
In the reporting period, the revenue of the financial service sector was 1.980 billion yuan, a year-on-year increase of 17%. The revenue of the innovative consumption and services totaled 8860 million yuan, a 17% year-on-year increase as well, while the revenue in agriculture and food sector was 6.387 billion yuan, which was an alarming rise of 218% compared to last year.
The total funding of the group was 3.97 billion yuan, complete by the company’s three powerful pillars—Legend Star (a wholly-owned subsidiary of the Company), Legend Capital and Hony Capital. As of June 30, 2018, Legend Star has managed up to a total of five funds, summing up to 2 billion yuan.
In terms of investment, Legend Star has invested in about 20 domestic and overseas projects, covering leading industries such as smart machines, industrial transformation, biotech and medical devices. Legend Capital has completed 37 new investment projects in areas such as Telecommunications, Media and Technology (TMT), innovative consumption, smart manufacturing, professional services, medical health, as well as culture and sports. Hony Capital has poured in additional investments into six different projects including innovative and growing companies in medical, consumption, service and other areas.
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“During the first half of 2018, China’s economic structural adjustments came wave after wave. As a result, although fluctuations in economic globalization have brought about uncertainties and challenges, opportunities arose as well. Lenovo Holdings has further optimized its investment portfolio and made new breakthroughs in the acquisition of pillar assets and allocation of overseas resources. ” said Mr. Zhu Linan, President of Legend Holdings.