Adjust high-level association chairman Liu Chuanzhi heavy Q3 loss 97 million U.S. dollars

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as of Lenovo Group today announced the December 31, 2008 ended the third quarter, a net loss of 97,000,000 U.S. dollars. Liu Chuanzhi again as the company's Chairman of the Board, to serve as CEO, replacing Yang Yuanqing • William Amelio posts, Rory Reid (Rory Read) was appointed as the new president and COO.

As previously announced, Lenovo Group has at January 8, 2009, announced a global restructuring plan, expected to be in the 2009/2010 fiscal year for the Group savings of about 300 million U.S. dollars, and to enhance the Group's cost competitiveness and operational efficiency .

The quarter from continuing operations (excluding the sale of business)比年-year consolidated sales declined 20% to 3.59 billion U.S. dollars. Group of Maori比年years to reduce the 48% gross profit margin was 9.8%. Does not include restructuring charges of 6 million U.S. dollars, Lenovo Group from continuing operations pre-tax loss of 90 million U.S. dollars. Third quarter loss attributable to shareholders for 97 million U.S. dollars.

Basic earnings per share (1.09) cents or (8.5) cents. At December 31, 2008, the Group's net cash reserves of 1.3 billion U.S. dollars.

Lenovo CEO Yang Yuanqing, said: "In the past quarter, Lenovo Group and other global enterprises, by the global economic situation turmoil. We are taking appropriate measures to ensure that the group in the current uncertain economic environment , can operate as efficiently as possible, and in the future continue to grow. the company recently announced plans to adjust the resources designed to enhance cost competitiveness and operational efficiency. In addition, we will be further clear, and segmentation of brand and product positioning, set up corresponding end-to-end integration of the organization, as well as more rapid and flexible response to changes in the market products that the market mechanism. Through these initiatives, we believe that Lenovo will become a more efficient, more competitive company. "

Management to adjust

In addition, the association's Board of Directors announced that it would adjust the company's management to strengthen the company's ability to achieve long-term global strategy.

Lenovo Group founder and director, Mr. Liu will be re-served as Chairman of the Board of Directors.

The current Chairman of the Board, Mr. Yang Yuanqing will take the post of CEO, he had been in 2001-2004 for the post.

Yang Yuanqing, will succeed William • Mr. Amelio. Mr. Amelio's three-year contract expires.

Lenovo senior vice president of business operations, Mr. Rory Read has been appointed as the new president and chief operating officer.

Management to adjust the same day (February 5, 2009) came into effect. Mr. Amelio will identity services company consultant until September 2009.

Mr. Liu said: "In the international arena, Lenovo Group has been successful development. However, at this important moment, we will give special attention to business in China, because it is our global business and the cornerstone of growth strategy. The appointment of Yang Yuanqing Mr. CEO, the company will benefit greatly, because he founded our business in China. his profound understanding of Chinese market and implementation capacity in the industry are the best. We believe that the next few years he was a legend Group Leaders suitable candidates. I am very happy to be able to serve as Chairman of the Board of Directors, I look forward to working with Mr. Yang Yuanqing and Mr. Rory Read together to create maximum value for shareholders. "

"Lenovo Group is China's leading PC manufacturers," said Mr. Yang Yuanqing. "We put in at small and medium-sized Chinese market and the success of the strategy of international market experience. I am Legend Group in China and emerging markets, the ability to grow and will remain committed to building a diverse international team."

Mr. Liu said, "I want to take this opportunity to Mr. Amelio job at Lenovo during the important contribution made to express my sincere appreciation. He will bring expertise in operating the company's operation at all levels, responsible for organizing and optimizing the business, to help U.S. companies become the world's leading manufacturers. At the same time, we also created a global culture of proud of. We are very pleased that he agreed to the consultant's identity for the company to continue service. "

"In the past three years, we have succeeded in implementing the international strategy, Lenovo Group has joined the ranks of the global PC leader," Mr. Amelio noted. "Our brand recognition in the world, we are in terms of quality and innovation to obtain a good reputation, our world-class customer service. I am of our team's achievements was pleased."

As president and chief operating officer, Rory Read President will continue to lead the global operations of its duties, is also responsible for part of the global functions. Rory Read at Lenovo Group, has served three years, currently serves as senior vice president of corporate operations, as the Americas, Japan, Australia / New Zealand and a center of excellence on behalf of the president.

Mr. Rory Read, said: "Faced with the current challenging business environment, association has been made of success in the future to prepare for, and I look forward to working with Mr. Liu and Mr. Yang Yuanqing close cooperation to strengthen and expand our global business."

Area Overview

In Greater China, Lenovo the third quarter sales of 1.6 billion U.S. dollars, accounting for the Group of 45% of total sales worldwide. Because of the impact of the economic crisis continues, the Group of Chinese at the same period last year the total sales volume decreased by 1% (the overall market area sales fell 7%). Nevertheless, the Group in China's overall market share increased 1.8 percentage points to 30.5%.

Association areas in the Americas sales for the third quarter of 904,000,000 U.S. dollars, accounting for the Group of 25% of total sales worldwide. Commercial market because of continued weakness, coupled with the market low-cost laptop a gradual shift, in the Americas Zone Group's total sales over the same period last year fell by 6% (the overall market area sales fell 3%). Canadian business association at the continuing strong market share in South America have also increased.

Europe, Middle East and Africa sales in the third quarter recorded a 735 million U.S. dollars, accounting for the Group of the global total sales 20%. Association in the region, the total personal computer sales比年year decline of 3% (the overall market area sales rose 1%). Although the Group's overall performance in the region by the negative impact of exchange rate fluctuations, the Group in Russia and Turkey and other emerging markets recorded sharp increases.

Asia-Pacific (excluding Greater China) sales in the third quarter of 343,000,000 U.S. dollars, accounting for the Group of the global total sales 10%. Association in the region, the total personal computer sales fell 23 percent year比年(district overall market sales declined 4%). Which in the Indian market more pronounced decline in sales, mainly because of the economic crisis affecting the local business and high-end customers demand.