While agriculture and food may only be a small portion (0.5%) of Lenovo owner Legend Holdings' revenue, the segment went through some significant changes in 2015.

In its 2015 annual results, Legend Holdings said the area, spearheaded by Joyvio Group, registered revenue of CNY1.639 billion (US$254 million) for the year.

"Joyvio Group reported a substantial increase in the sales of agricultural products including blueberries and kiwifruit through continuously improving its planting technologies and developing new sources of supply and sales channels, and turned around in the reporting period through constant improvement on its management expertise, operational efficiency and restructuring and consolidation, leading to remarkably better performance," the company said.

The report highlighted the restructuring of the group's fruit business as well, involving a merger with Golden Wing Mau.

"Through this transaction, the channel capacity of the merged company was significantly enhanced with more balanced capability in different segments of the supply chain, leading in terms of scale in the Chinese fruit industry, with increased bargaining weight on both the upper and lower streams, which translated into improved profitability," the report said.

"Joyvio Golden Wing Mau, as an associate of Joyvio Group, will become a fruit business platform, creating a fruit industry chain platform business with global influence."

Related story: Joyvio-Golden Wing Mau merger technicalities revealed to HK Stock Exchange

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