On November 20, Financial Association News (Editor Qi Ling) Lenovo Group's global supply chain external strategic empowerment platform, Lenovo Asia Vets, signed a contract with Easy Capital on Wednesday. Easy Capital will strategically invest $50 million in Lenovo Asia Vets, helping Lenovo Asia Vets accelerate its global layout and provide more enterprises with one-stop intelligent supply chain solutions.

This strategic investment is carried out against the backdrop of Lenovo's previous announcement to establish its Middle East and North Africa regional headquarters in Riyadh, Saudi Arabia, and to establish a personal computer and server manufacturing base locally.

On May 29, Lenovo Group (00992.HK) announced a strategic partnership with Alat, a company under the Saudi Public Investment Fund (PIF) focusing on transformative technology investments and sustainable manufacturing. Alat will subscribe to $2 billion convertible bonds issued by Lenovo; Lenovo Group will establish its Middle East and Africa regional headquarters in Riyadh, set up customer center and research and development center, and build new personal computer and server manufacturing base.

As Lenovo Group's external strategic empowerment platform for its global supply chain, Lenovo Asia Vets has been committed to building a supply chain bridge connecting domestic and international markets since its inception. With this round of capital injection, it is expected to further consolidate its leading position in the cross-border supply chain service field.

Lenovo Group's Senior Vice President and Global Supply Chain Leader, Chairman of Lenovo Asia Vets, Guan Wei, said at the signing ceremony: "As a strategic empowerment platform within Lenovo Group, we believe Lenovo Asia Vets can shoulder the responsibility and mission of 'helping Chinese manufacturing to go global with intelligent supply chain solutions.' This investment will help Lenovo Asia Vets in its global layout and better utilize Lenovo and Easy Capital's strategic resources to accelerate international market expansion.

Jerry Li, Founding Managing Partner of Easy Capital, said: "The investment in Lenovo Asia Vets is the first strategic investment of Easy Capital's second US dollar fund, in line with Easy's investment strategy of 'technology empowerment + regional expansion,' and is an important step for us to implement the local vision of Saudi Arabia. We will work with Lenovo Asia Vets to introduce advanced global supply chain digital solutions to the Middle East and North Africa region, and use this as a starting point to further help outbound enterprises explore localized manufacturing and trade, while gradually enhancing the competitiveness of local Saudi enterprises in support of the realization of Saudi Vision 2030.

In October this year, the Saudi Ministry of Transport and Logistics Services announced a national-level project in cooperation with King Salman International Airport and Easy Capital—the Saudi-China Special Economic Zone. The economic zone covers a total planned area of 4 square kilometers and aims to create a comprehensive service system covering logistics and supply chain solutions, reducing the entry barriers for Chinese companies to the Saudi market.

The economic zone is expected to attract over 3,000 wholesalers and retailers, as well as approximately 200 light industrial manufacturers from China and other parts of Asia, fully tapping into the potential of Saudi cross-border trade and promoting the development of Saudi logistics and e-commerce industry.

Lenovo Global is actively evaluating the possibility of entering the Saudi-China Special Economic Zone, exploring more cooperation opportunities. Lenovo Global and Yida Capital will take this opportunity to join hands to provide digital and intelligent supply chain solutions, helping to enhance the global competitiveness of Chinese manufacturing industry and injecting new energy into the digital infrastructure of the Middle East.