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On February 16th, an article titled *"The Truth: Is Yang Yuanqing a Qualified Lenovo CEO?"* appeared on a social media platform. The piece quoted financial data and analyzed Lenovo's performance under the leadership of its CEO, Yang Yuanqing, suggesting that the company has been in decline. It also questioned what kind of team Yang Yuanqing has built over his 15 years at the helm.
In response, Lenovo officially denied the claims on its WeChat public account, calling the article "data distortion, concept stealing, out of context, and conspiracy." The company stated that it would clarify the facts and even consider legal action to protect its rights.
The article cited figures from Lenovo’s financial reports but misinterpreted or misrepresented them. For example, it claimed that Lenovo’s pre-tax profit dropped sharply after fiscal year 2004. However, according to official records, the company's pre-tax profit was HKD 1.125 billion in 2004 and rose to HKD 1.174 billion in 2005. The original text mistakenly converted Hong Kong dollars into U.S. dollars without explanation, leading to misleading conclusions.
Moreover, the article made false comparisons between Lenovo's revenue and profits before and after the IBM acquisition. It claimed that the company's turnover in 2004 was $22.555 billion, but the actual figure was HKD 23.176 billion. Such inaccuracies undermined the credibility of the entire piece.
The article also used conspiracy theories, portraying internal changes as political struggles and comparing executives to historical figures like "Tai Shang Huang" and "Prince," which added unnecessary drama. It further criticized Lenovo’s 2015 losses, ignoring the fact that these were due to restructuring and one-time costs from major acquisitions.
Despite short-term challenges, Lenovo has achieved significant global growth over the past 15 years. It has expanded from a Chinese company with limited international presence to a Fortune 500 giant with operations in over 160 countries. Its PC business is now the top in the world, and its enterprise and mobile divisions are also leading globally.
Lenovo emphasized that it values constructive feedback but will not tolerate baseless attacks. It remains committed to transparency and will continue to fight for its reputation and rights.
As the first company to emerge from Zhongguancun, Lenovo has overcome numerous obstacles to become one of the few global IT companies to successfully expand beyond China. The company remains proud, humble, and determined, ready to face any challenge ahead.
July 04, 2025