2023-11-16 14:41:14
Lenovo’s shares, listed on the Hong Kong Stock Exchange, fell by regarding 2.7 percent during Thursday’s trading, but it still maintained gains above 48 percent since the beginning of the year.
What is the reason for this decline?
Lenovo shares began trading today with a decline of approximately 4.8 percent ahead of the announcement of the financial results for the third quarter until September of this year, affected by the decline in sales for the fifth consecutive quarter amid a 16 percent decline in revenues.
The company attributed this decline to its continued disposal of excess inventory accumulated during the Covid-19 pandemic, which witnessed record growth supported by remote work at the time.
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