text: Ownership In 2009, China Oceanwide Holdings Group, a private Investment company based in Beijing, bought 29% of Legend Holdings, the parent company of Lenovo, for ¥2.76 billion. , 65% of Lenovo stock was held by the general public, 29% by Legend Holdings, 5.8% by Yang Yuanqing, and 0.2% by other directors.
  Responding to claims that Lenovo is a state-owned enterprise, CEO Yang Yuanqing said, "Our company is a 100% market oriented company. Some people have said we are a state-owned enterprise. It's 100% not true. In 1984 the Chinese Academy of Sciences only invested $25,000 in our company. The purpose of the Chinese Academy of Sciences to invest in this company was that they wanted to commercialize their research results. The Chinese Academy of Sciences is a pure research entity in China, owned by the government. From this point, you could say we're different from state-owned enterprises. Secondly, after this investment, this company is run totally by the founders and management team. The government has never been involved in our daily operation, in important decisions, strategic direction, nomination of the CEO and top executives and financial management. Everything is done by our management team."
  As of 2014, the Chinese Academy of Sciences, owns 11.7% of Lenovo and IBM owns 37.8%.