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2011/12 Annual Report Lenovo Group Limited
88
DIRECTORS’ REPORT
Property, Plant and Equipment
Details of the movements in property, plant and equipment of the Group and of the Company are set out in note 14 to the financial
statements.
Share Capital
Details of the movements in the share capital of the Company are set out in note 30 to the financial statements.
Subsidiaries, Associates and Jointly Controlled Entities
Particulars of the Company’s principal subsidiaries, associates and jointly controlled entities as at March 31, 2012 are set out in
notes 38 and 19 to the financial statements respectively.
Management Contracts
No contracts concerning the management and administration of the whole or any substantial part of the business of the Company
were entered into or existed during the year.
Major Customers and Suppliers
During the year, the Group sold less than 12 percent of its goods and services to its five largest customers. The percentages of
purchases for the year attributable to the Group’s major suppliers are as follows:
The largest supplier 26 percent
Five largest suppliers combined 35 percent
None of the directors of the Company, their associates or any shareholder (which to the knowledge of the directors owns more
than 5 percent of the Company’s share capital) had an interest in the major suppliers noted above.
Purchase, Sale or Redemption of the Company’s Listed Securities
During the year ended March 31, 2012, neither the Company nor any of its subsidiaries purchased, sold or redeemed any of the
Company’s listed securities.
Directors
The directors during the year and up to the date of this report were:
Chairman and Executive Director
Mr. Yang Yuanqing (appointed as Chairman on November 3, 2011)
Non-executive Directors
Mr. Zhu Linan
Ms. Ma Xuezheng
Dr. Wu Yibing
Mr. Zhao John Huan (appointed on November 3, 2011)
Mr. James G. Coulter (resigned on September 27, 2011)
Mr. Liu Chuanzhi (resigned on November 3, 2011)
Independent Non-executive Directors
Professor Woo Chia-Wei
Mr. Ting Lee Sen
Dr. Tian Suning
Mr. Nicholas C. Allen
Mr. Nobuyuki Idei (appointed on September 28, 2011)
Mr. William O. Grabe (re-designated from a non-executive director to an independent non-executive director on February 8, 2012)
In accordance with articles 92 and 101 of the Company’s articles of association, Mr. Zhao John Huan, Mr. Nobuyuki Idei, Mr. Zhu
Linan, Ms. Ma Xuezheng, Mr. Ting Lee Sen and Mr. William O. Grabe will retire and, being eligible, will offer themselves for re-
election at the forthcoming annual general meeting.
The Company has received from each of the independent non-executive directors an annual confirmation of his independence
pursuanttorule3.13oftheRulesGoverningtheListingofSecuritiesonTheStockExchangeofHongKongLimited(“Stock
Exchange”)(“ListingRules”).TheNominationandGovernanceCommitteehasdulyreviewedtheindependenceofeachofthese
directors. The Company considers they are independent.