Lenovo sets up a factory in Saudi Arabia with an initial investment of 200 million, which will be put into operation within a year

Lenovo Group recently signed a strategic cooperation agreement with Alat, a subsidiary of the Saudi Arabian sovereign wealth fund PIF, to invest $250 million in setting up production facilities in Saudi Arabia. The production is expected to start within a year to establish a global supply chain center. In addition, Lenovo will establish its MEA regional headquarters in Saudi Arabia, aiming to increase the revenue share of the region from 2.7% to 10% within the next 5 years. Furthermore, Lenovo plans to issue $2 billion zero-coupon convertible bonds and 1.15 billion warrants, with the related transactions subject to approval at the shareholders' meeting