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Legend Holding Revenue Stood at RMB389.218 billion; up by 8% year-on-year
Pillar Assets Grow Steadily, Financial Investments Stress on Resource Backflow

BriefingWire.com, 3/26/2020 - Legend Holding Corporation (3396.HK) today announced its audited annual results for the 12 months ended December 31, 2019 (the "Reporting Period "). In 2019, the revenue of the Company increased by 8% year-on-year to RMB 389.218 billion. The net profit attributable to equity holders of the Company amounted to RMB3.607 billion, representing a yoy decrease of 17%, mainly due to the decrease in some of the businesses of the financial services segment and the innovative consumption and services segment. The basic earnings per share was RMB1.54, and recommended dividend of RMB0.33 per ordinary share (before tax), representing a yoy increase of 10%.

Mr. Li Peng, executive director and CEO of Legend Holdings, stated that the macro environment in 2019 was complicated and unsettled, Legend Holdings upheld its business philosophy of seeking long-term development and stable operation. During the Reporting Period, the strategic investments saw the improved performance of several portfolio companies with sound fundamentals for growing into pillar assets, thanks to years of investment deployment and operational improvements. At the same time, the overall performance of financial investment was outstanding and contributed considerable amounts of cashback for Legend Holdings. In 2020, Legend Holdings will continue to consolidate and adjust its current business, and also dynamically formulate work plans for the next few years based on the external business environment and its proprietary resources.

Steady Growth for Pillar Assets, while Key Portfolio Companies Made Progress in Advancing the Strategic Development

Building pillar assets is regarded as the primary strategic task of Legend Holdings. During the Reporting Period, the Company continued to support key portfolio companies in marching toward their core strategic objectives and achieved good performance.

Lenovo has accelerated its intelligent transformation by implementing the 3S strategy, with RMB1.608 billion of net profit attributable to equity holders of the Company. PC and smart device business continued to lead the industry with a record high pre-tax income rate. In addition, the strategic investments of Lenovo also include telecommunications, edge computing and artificial intelligence, while making steady progress in exploring and developing future growth opportunities. During the Reporting Period, revenue of IT segment increased by 8% year-on-year to RMB 357.212 billion, and net profit attributable to equity holders of the Company increased by 48%.

Banque Internationale a Luxembourg S.A. ("Banque Internationale a Luxembourg" or "BIL") achieved good performance in the first fiscal year after Legend Holdings' acquisition. The assets under management increased by 10.3% year-on-year to EUR43.5 billion and profit before tax from core businesses increased by 20% year-on-year to EUR136 million. The CET-1 ratio rose to 12.47%. During the Reporting Period, BIL has cooperated with Legend Capital and Legend Star, and the advantage intra-portfolio synergy presented well. In September 2019, BIL opened its Beijing Representative Office; in October, it obtained the approval from European and Hong Kong regulators for acquiring a Hong Kong-based wealth management company. According to BIL's latest five-year strategy plan, its new businesses in China will become a strategic focus.

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