Legend Holdings revenue up 13% in 2018

BEIJING - Legend Holdings Corporation, parent company of Chinese tech giant Lenovo, posted revenue of 358.92 billion yuan ($53.41 billion) in 2018, up by 13 percent year-on-year, according to a company statement released Thursday.

The net profits attributable to its shareholders was 4.36 billion yuan, down 14 percent on the previous year, the company said in its audited annual results for 2018.

The company noted profit growth in its five segments of strategic investment, with the overall income of strategic investment rising by 14 percent to 358.3 billion yuan.

Legend Holdings completed the purchase of a nearly 90 percent stake in Banque Internationale a Luxembourg SA in July 2018.