Lenovo (992 HK): Starting to Look like Fraud. Fair Value HK$3.35 40% Downside

Sell Lenovo (992 HK) FY2020: Falling Revenue, Rising Debts

Sell Lenovo: Talking Growth, Delivering Little

Sell Lenovo: Profit Is an Illusion, Liabilities Are Rising and There Is Little Real Equity Value

Lenovo Top Zone to Reverse from Long to Short

Director | Exposing Creative Accounting, Bucephalus Research Partnership

Robert Medd

Director | Exposing Creative Accounting

Exposing Creative Accounting

Bucephalus Research Partnership

Bucephalus Research Partnership Limited. Exposing Creative Accounting.

At the Bucephalus Research Partnership (BRP) we analyse financial statements using our accountant's practical experience and our own quantitative algorithms for corporate governance, accounting risk and peer performance.

Our thematic research refines our unique algorithms while our single stock research focuses on examples where we discover a significant gap between published accounts and business reality.

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Equity Bottom-Up

<p>Investors seem to be buying into the Lenovo recovery story. Every quarter they manage to produce some growth and talk about a future turnaround. A close look at their accounts reveals that all is not well. Lenovo will be raising capital again next year and the risk of collapse continues to rise.</p>

Investors seem to be buying into the Lenovo recovery story. Every quarter they manage to produce some growth and talk about a future turnaround. A close look at their accounts reveals that all is not well. Lenovo will be raising capital again next year and the risk of collapse continues to rise.

Lenovo

Lenovo: Cashless Revenue, Rising Risks