| 序号 | 代码 | 名称 | 最新价 | 涨跌幅 | 今开 | 最高 | 最低 | 昨收 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 09626 | 哔哩哔哩-W | 198.000 | 7.08% | 188.000 | 199.800 | 187.700 | 184.900 | | 2 | 09698 | 万国数据-SW | 34.220 | 6.01% | 33.180 | 34.540 | 33.180 | 32.280 | | 3 | 00909 | 明源云 | 3.760 | 5.62% | 3.620 | 3.810 | 3.620 | 3.560 | | 4 | 01060 | 大麦娱乐 | 1.190 | 5.31% | 1.140 | 1.190 | 1.120 | 1.130 | | 5 | 00992 | 联想集团 | 11.330 | 4.81% | 10.870 | 11.330 | 10.870 | 10.810 | | 6 | 02618 | 京东物流 | 13.820 | 4.22% | ...

近日，联想集团有限公司（以下简称"联想"）与内蒙古伊利实业集团股份有限公司（以下简称"伊利"） 宣布强强联合，共造全球智链生态圈，实现伊利"从一棵草、到一头牛、再到一杯奶"的全链数智化布 局。 在呼和浩特的伊利现代智慧健康谷，高速运转的全自动生产线每天处理超过7000吨鲜奶，每小时灌装 40000包牛奶，是全球最快的牛奶生产线。 重构乳业价值链 走进伊利智能工厂，自动化设备稳定运行、数据看板实时跳动，自动化与规模化背后是一条被智能化重 构的供应链。 伊利联合联想打造的供应链控制塔系统，覆盖生产计划、工厂采购、供应商供货等五大环节15个关键节 点，整合了80余项供应指标与140余项广促品指标，显著降低了原辅料临期、积压与缺断货风险。 在联想和伊利看来，数智化绝非一场"独角戏"，"AI+"不仅正加速赋能产业变革，更深度链接千行百 业，"+"出无限可能。 作为全球领先的AI企业，联想以前瞻性的全栈AI布局，率先发布了面向个人、企业和城市的超级智能 体。通过AI终端、AI基础设施与AI解决方案的协同落地，既为个人工作生活提质提效，也推动企业孕 育创新生产力与新业态，更助力城市实现智能决策。其中，联想城市超级智能体已于 ...

Core Insights - The report released by Wisdom芽 highlights the increasing presence of Chinese companies in the global innovation landscape, with 11 Chinese firms making it to the "2025 Global Innovation Leaders TOP 100" list [1] - Chinese companies are leading in technology exports, with PCT patent submissions accounting for approximately 47% of the total as of July this year [1] - The report identifies information technology and semiconductors as the dominant sectors, with 17 and 16 companies respectively in the Chinese innovation leaders list [1] - The Beijing-Tianjin-Hebei region shows active R&D, while the Guangdong-Hong Kong-Macau area is recognized for its high-quality technology influence [1] - The global innovation leader landscape is undergoing generational shifts, with new companies driving a quarter of global technological innovation [1] - The semiconductor sector has seen a significant increase, with 13 leading companies entering the global innovation leaders list [1] Company Highlights - The "2025 China Innovation Leaders TOP 100" includes major firms such as Huawei, ZTE, SMIC, Alibaba, BYD, and Mindray, representing the strongest technological capabilities in China [2] - New entrants to the list this year include BGI Genomics, JD.com, Kuaishou Technology, and others, indicating a dynamic shift in the innovation landscape [3] - The report emphasizes the role of these companies as pioneers in advancing China's strategy for technological self-reliance [2]

"第七届海南岛国际电影节·联想AI电影季"在今日美术馆首对外展出的馆藏展中亮相，将以AI技术为 刃、艺术人文为魂，打造中国AI电影的创新交流平台，助力海南成为全球"科技+文化"融合的前沿阵 地。 下一个百年的"开机声明" 发布会上，海南岛国际电影节官方代表邢天宇先生与今日AI艺术中心主理人、今日美术馆AI艺术创新 联盟（AIAIA）秘书长谢鲤梅女士完成合作签约，双方将共同打造深度聚焦AI技术与艺术前瞻的国际化 AI电影季，AIAIA到场理事共同见证了这一历史时刻。 回望艺术与电影史，我们看到，技术的每一次革新都开启了新的叙事时代，就在过去的两年间，AIGC 从文本生成到多模态跃迁，从视觉再现到动态叙事，已成为电影创作中不可忽视的力量。"第七届海南 岛国际电影节·联想AI电影季"的发布，不仅是活动增设的简单动作，更是一份面向下一个百年的"开机 声明"。张宝全先生表示："今日美术馆有22年的'科技×艺术'基因，成立AIAIA是我们在AI时代的一次 关键布局。我们希望通过与海影节的合作，真正实现'以AI为刃、以人文为魂'，打造一个人人能参与、 人人可表达的影像新生态。" 陆川先生则以导演的视角分享了他对AI影像的观 ...

Core Viewpoint - The Hong Kong stock market is experiencing a robust performance, particularly in the technology sector, which is benefiting from valuation advantages and growth certainty, leading to a re-evaluation of Chinese assets globally [1][3]. Group 1: Market Dynamics - Southbound capital has net bought over 10,000 billion HKD this year, significantly surpassing last year's total net inflow, with a record single-day net inflow of 358.76 billion HKD on August 15 [3]. - The technology sector is expected to benefit from supportive policies in AI, 5G, and cloud computing, enhancing corporate profitability and market liquidity [3]. - The release of H20 chip restrictions is expected to boost computing power supply, coinciding with a surge in global AI demand and a rational market return following a decrease in delivery industry subsidies [3]. Group 2: Valuation and Investment Opportunities - Current valuations of Hong Kong technology stocks remain at historical lows, indicating significant upside potential [4]. - The gap in relative returns between the ChiNext Index and the Hang Seng Tech Index has widened to 25%, suggesting a potential for a rebound in the Hang Seng Tech Index [4]. Group 3: Lenovo Group's Position - Lenovo Group is recognized as a representative enterprise in the Hong Kong AI sector, focusing on a hybrid AI strategy and demonstrating resilience in growth [6][10]. - Lenovo has solidified its leadership in the global AI PC market, with AI PC shipments accounting for over 30% of total PC shipments, and the "Tianxi" AI PC product has shown a 40% average weekly active user rate [7]. - The company is building a comprehensive AI infrastructure system, focusing on heterogeneous computing and offering a range of AI infrastructure products and solutions [9]. Group 4: Growth Potential and Analyst Outlook - Lenovo's service business has seen high growth due to the launch of various AI solutions, including the Lenovo Baiying AI agent 2.0, which enhances AI capabilities for enterprises [10]. - Analysts maintain a positive outlook on Lenovo's growth potential, with target prices set at 14.8 HKD and 16 HKD by different brokerages, reflecting confidence in its market share improvement in the AI sector [10].

这份权威榜单不仅是对企业商业成就的认可，更包含对其软实力的综合考量，涵盖管理能力、人才吸引 力、产品服务、社会责任、投资价值和全球化等多维度指标。《财富》杂志强调，上榜公司既要为股东 创造利润，也要对员工负责、对社会有贡献、对环境友好。拥有这种"平衡能力"，才是企业长期被市 场、员工、社会认可的关键。作为全球数字经济领导企业，联想集团的入选也是 "硬科技"与"软实力"兼 备这一双重优势的有力体现。 2025年9月9日，在最新发布的2025年《财富》最受赞赏的中国公司榜单中，联想集团凭借其在科技领域 的创新领导力和社会责任实践，再次入选全明星榜及行业明星榜。这份榜单被誉为中国企业"软实力"的 晴雨表，通过对50000多名企业管理者的深度问卷调查评选而出，代表了业界对顶尖企业的权威认可。 在此次评选中，联想集团在全球化运营和技术创新方面获得了《财富》杂志的高度关注："联想PC业务 市场份额持续提升，继续从竞争对手的手中夺取份额；同时全面推进混合式人工智能战略。凭借AI PC 等人工智能终端设备、支持所有主流体系架构的人工智能服务器，以及人工智能原生和人工智能内置的 解决方案与服务，联想在混合式人工智能时代的独特性 ...

2025年9月9日，在最新发布的2025年《财富》最受赞赏的中国公司榜单中，联想集团凭借其在科技领域 的创新领导力和社会责任实践，再次入选全明星榜及行业明星榜。这份榜单被誉为中国企业"软实力"的 晴雨表，通过对50000多名企业管理者的深度问卷调查评选而出，代表了业界对顶尖企业的权威认可。 这份权威榜单不仅是对企业商业成就的认可，更包含对其软实力的综合考量，涵盖管理能力、人才吸引 力、产品服务、社会责任、投资价值和全球化等多维度指标。《财富》杂志强调，上榜公司既要为股东 创造利润，也要对员工负责、对社会有贡献、对环境友好。拥有这种"平衡能力"，才是企业长期被市 场、员工、社会认可的关键。作为全球数字经济领导企业，联想集团的入选也是 "硬科技"与"软实 力"兼备这一双重优势的有力体现。 在此次评选中，联想集团在全球化运营和技术创新方面获得了《财富》杂志的高度关注："联想PC业务 市场份额持续提升，继续从竞争对手的手中夺取份额；同时全面推进混合式人工智能战略。凭借AI PC 等人工智能终端设备、支持所有主流体系架构的人工智能服务器，以及人工智能原生和人工智能内置的 解决方案与服务，联想在混合式人工智能时代的独特性 ...

"中国+N"全球布局凸显柔性生产能力，沙特投资开拓中东新机遇在全球供应链布局方面，1）联想独特 的以中国为大本营的"中国+N"全球化制造布局在当前贸易环境下展现出显著优势。根据业绩会披露， 基于"中国+N"制造布局，公司在全球共有30 多个制造基地，其中在11 个国家拥有自有工厂，兼具韧性 和敏捷性。当面对外部环境的不确定性时，联想能够发挥"全球资源、本地交付"运营模式的优势，例如 通过在墨西哥和匈牙利等地的本地化生产，有效应对风险并保障交付效率。2）此外，联想已完成与沙 特阿拉伯公共投资基金（PIF）旗下公司Alat 的20 亿美元零息可换股债券投资，并正在沙特建立生产基 地，预计2026 年投产，有望深度参与沙特"Vision 2030"国家战略下的AI 基础设施和数字经济建设。 维持"买入"评级及目标价16.0 港币 考虑到公司AI 产品加速落地、以及中东等新兴市场的增长机遇，我们维持公司FY26/27/28 Non-HKFRS 归母净利润预测分别为16.9/18.9/21.2 亿美元， 同比+17.6%/11.3%/12.4% ， 对应Non-HKFRS EPS 分别 为0.14/0.15/0.17。 ...

中金维持联想集团"跑赢行业"评级和盈利预测，基于non-HKFRS(非香港财务报告准则)净利润口径，当 前股价对应2026及2027财年10.4倍、8.9倍市盈率。考虑到公司基于软硬件创新技术、有望在端侧AI市 场持续获得份额改善，以及估值窗口推移，基于2026财年14倍市盈率，上调目标价10.4%至14.8港元。 格隆汇9月9日｜中金发表研究报告指，联想在AI端侧持续深化一体多端的战略布局，不仅在硬件层面 创新打造卷轴屏、透明屏等产品，更在软件层面强化本地大模型能力、提升跨设备体验，中金看好持续 创新驱动公司在全球PC、手机市场份额稳中有进。 ...

Investment Rating - The report maintains a "Buy" rating for Lenovo Group with a target price of HKD 16.00 [7][5]. Core Insights - Lenovo is expected to benefit from strong demand driven by the global development of hybrid artificial intelligence, leveraging its global layout to mitigate uncertainties [1][4]. - The company has completed a USD 2 billion investment plan in Saudi Arabia, establishing a factory that is anticipated to provide significant growth opportunities in the Middle East [1][4]. - Hybrid AI solutions are becoming a new growth driver across three major business lines, further solidifying Lenovo's global competitive advantage [1][4]. Summary by Sections Market Performance - In 2QCY25, Motorola's foldable smartphone market share increased to 28%, a 14 percentage point year-over-year growth, surpassing Samsung to become the largest foldable smartphone manufacturer globally [2]. - The Moto brand's smartphone revenue grew by 14.0% year-over-year, with sales exceeding market growth for eight consecutive quarters, particularly strong in emerging markets [2]. AI PC Segment - Lenovo's global PC market share reached a record high of 24.6% in 2QCY25, with AI PC penetration at approximately 30% and user engagement for AI applications at around 40% [3]. - The increasing maturity of AI technology and user acceptance is expected to drive further penetration of AI applications, enhancing product structure and profitability [3]. Global Supply Chain and Manufacturing - Lenovo's "China + N" global manufacturing strategy demonstrates significant advantages in the current trade environment, with over 30 manufacturing bases worldwide, including 11 owned factories [4]. - The establishment of a production base in Saudi Arabia is expected to align with the country's Vision 2030 strategy, focusing on AI infrastructure and digital economy development [4]. Financial Projections - The report forecasts Lenovo's non-HKFRS net profit for FY26, FY27, and FY28 to be USD 1.69 billion, USD 1.89 billion, and USD 2.12 billion, respectively, representing year-over-year growth of 17.6%, 11.3%, and 12.4% [5][10]. - The corresponding non-HKFRS EPS for these years is projected to be USD 0.14, USD 0.15, and USD 0.17 [5][10].