Core Viewpoint - Lenovo Group has signed long-term supply contracts with key component suppliers to address the rising storage chip prices driven by surging demand for artificial intelligence (AI) [1][2] Group 1: Supply Chain Strategy - Lenovo's CEO Yang Yuanqing announced that the company has secured optimal contracts to ensure sufficient supply for the upcoming year [1] - The global storage chip prices are increasing due to heightened demand from data center operators for AI server construction, leading to a tightening supply of traditional storage chips used in smartphones, computers, and gaming devices [1] - By locking in supply chain resources, Lenovo demonstrates a strong emphasis on stability and sustainability during its AI transformation [1][2] Group 2: Market Position and Strategy - Lenovo is accelerating its transition from a traditional PC manufacturer to an "intelligent computing service provider," indicating a significant long-term strategic move [2] - As a top player in the global supply chain, ranked 8th by Gartner, Lenovo's strong supply chain resilience and shipping capabilities provide it with significant leverage to navigate market fluctuations [2] - The company's large procurement volume allows it to negotiate better prices and establish deeper strategic ties with suppliers, creating a competitive advantage that smaller players cannot match [2] Group 3: Financial Performance - In the recently released Q2 FY2025/26 results, Lenovo's Intelligent Devices Group (IDG) reported revenue of 108.1 billion RMB, a year-on-year increase of 12% [2] - The revenue from AI terminal devices has significantly increased, now accounting for 36% of IDG's total revenue, up 17 percentage points year-on-year, marking it as a key growth driver [2] Group 4: Market Outlook - Yang Yuanqing expressed confidence that the market will not experience a bubble, predicting that AI technology will move from high-end applications to widespread adoption [3]

Core Insights - Lenovo Group has signed long-term supply contracts with key component suppliers to address the rising storage chip prices driven by increased demand for artificial intelligence [1] - The company is transitioning from a traditional PC manufacturer to an "intelligent computing service provider," indicating a strategic shift towards AI infrastructure [1] - Lenovo's significant purchasing power allows it to negotiate better terms in the supply chain, providing a competitive advantage over smaller players [1] Financial Performance - Lenovo's Intelligent Devices Group (IDG) reported a revenue of 108.1 billion RMB in the second quarter of the 2025/26 fiscal year, marking a 12% year-on-year increase [1] - Revenue from AI terminal devices has significantly increased, now accounting for 36% of IDG's total revenue, up 17 percentage points year-on-year, highlighting its role as a key growth driver [1] Market Outlook - Lenovo's CEO, Yang Yuanqing, expressed confidence that the market will not experience an AI bubble, predicting a shift towards the popularization of AI technology from high-end applications to broader consumer use [2]

Core Insights - Lenovo Group reported a 15% year-on-year revenue increase to 146.4 billion RMB for the second fiscal quarter of 2025/26, achieving a historical high for the quarter [1] - Adjusted net profit rose by 25% year-on-year, reaching 3.66 billion RMB [1] Strategic Developments - The company has refined its business models targeting large clients and small to medium-sized enterprises [1] - Lenovo has completed its strategic layout of "one horizontal and four verticals," which includes a comprehensive heterogeneous computing platform and focuses on servers, storage, data networks, and hyper-convergence [1] - All major Cloud Service Providers (CSPs) are now clients of Lenovo, with notable performance and rapid growth in the E/SMB sector, indicating a stable market [1] - Lenovo's differentiated competitive advantages lie in the scheduling of heterogeneous computing power and liquid cooling technology [1]

Group 1 - The core point of the article is that Lenovo is set to launch a "personal super intelligent agent" at the Lenovo Innovation Technology Conference on January 6, 2026, which will enhance user experience through personalized algorithms and models [1] - Lenovo's CEO, Yang Yuanqing, announced that the company will reveal how its technology will transform the Formula 1 racing experience and introduce the "first AI World Cup" in collaboration with FIFA in summer 2024 [1] - The company reported a 15% year-on-year revenue growth for Q2 of the fiscal year 2025/26, reaching $20.5 billion, with adjusted net profit increasing by 25% to $512 million, indicating that net profit growth outpaced revenue growth [3] Group 2 - The main driver of Lenovo's growth is the explosive performance of its AI business, which now accounts for 30% of total revenue, an increase of 13 percentage points year-on-year [4] - The demand for Lenovo's AI infrastructure solutions has surged, particularly as AI computing shifts towards local data centers and edge-side inference, leading to high double-digit growth in AI server revenue [4]

新浪科技讯 11月20日上午消息，联想集团公布截至2025年9月30日的2025/26财年第二财季业绩：当季营 收同比增长15%至1464亿元人民币，创下财季历史新高。经调整后的净利润同比增长25%，达36.6亿元 人民币。 在业绩发布会的提问环节，联想集团董事长兼CEO杨元庆表示，全球基于Windows10的 PC的更新还没 有完全结束，预计至少还要延续几个季度。 杨元庆认为，"除此之外，支撑PC市场增长更重要的因素还有人工智能。由于这两个因素的促进，我们 对明年全球PC市场的增长还是非常乐观的。从市场看，明年可能5%~10%的增长是可以期待的。" 责任编辑：江钰涵 ...

"我们与关键供应商都签有长期合同，能比对手更好进行管理。我们基本能确定，整个明年联想都有足 够的存储供应。" 杨元庆还表示，对包括服务器在内的基础设施业务有十足的信心，不会因为零部件价格上升而影响毛利 或净利润。他强调，"从长期来看，我们依然非常有信心在保持市场竞争力的同时维护毛利和净利润。" 新浪科技讯 11月20日上午消息，联想集团公布截至2025年9月30日的2025/26财年第二财季业绩：当季营 收同比增长15%至1464亿元人民币，创下财季历史新高。经调整后的净利润同比增长25%，达36.6亿元 人民币。 在业绩发布会的提问环节，谈及存储供应短缺以及价格上涨，联想集团董事长兼CEO杨元庆表示，存储 供应短缺以及价格上涨对联想而言不是新鲜事，联想有超越对手的应对能力。 ...

在业绩发布会的提问环节，谈及存储供应短缺以及价格上涨，联想集团董事长兼CEO杨元庆表示，短缺 和价格上涨不会是短期的，可能明年都会保持现状。他也强调，存储供应短缺以及价格上涨对联想而言 不是新鲜事，联想有超越对手的应对能力。 新浪科技讯 11月20日上午消息，联想集团公布截至2025年9月30日的2025/26财年第二财季业绩：当季营 收同比增长15%至1464亿元人民币，创下财季历史新高。经调整后的净利润同比增长25%，达36.6亿元 人民币。 ...

新浪科技讯 11月20日上午消息，联想集团公布截至2025年9月30日的2025/26财年第二财季业绩：当季营 收同比增长15%至1464亿元人民币，创下财季历史新高。经调整后的净利润同比增长25%，达36.6亿元 人民币。 在业绩发布会上，联想集团董事长兼CEO杨元庆表示，在企业智能领域，基础设施市场也在经历重要变 迁。"AI计算的重心从在公有云上以训练为主，正在转向在本地数据中心和边缘侧，以推理为主。这一 转变之所以重要是因为基础设施的规模化扩展，必然也会推动终端设备与应用的爆发式增长，从而为我 们打开全新的市场空间。" 他进一步表示，"在企业基础设施方面，我们正在针对大企业客户和中小企业客户的不同业务模式进行 完善乃至再造，我们有信心尽快让业务重回盈利性增长的快车道。我们将加速释放混合式人工智能优势 能力，打造人工智能模型、工厂、人工智能服务以及人工智能应用库，在关键垂直行业和通用解决方案 领域打造可复制和可扩展的人工智能解决方案。" 责任编辑：杨赐 ...

Core Viewpoint - Lenovo's Chairman and CEO Yang Yuanqing expressed confidence in the PC market's growth, attributing it to the transition to Windows 10 and the rise of AI PCs, expecting a growth rate of 5% to 10% in the PC market and maintaining a double-digit growth outlook for the year [1] Group 1 - The transition to Windows 10 is expected to continue driving device updates for several more quarters [1] - AI PCs are considered a significant factor supporting growth in the PC market [1] - Lenovo is confident in achieving double-digit growth for the fiscal year [1]

Core Insights - Lenovo Group reported a 15% year-on-year revenue growth for Q2 of the fiscal year 2025/26, reaching 146.4 billion RMB, marking a historical high for the quarter [1] - Adjusted net profit increased by 25% year-on-year to 3.66 billion RMB [1] - The company plans to launch a personal super intelligent agent globally on January 6, which will integrate various wearable and environmental sensing devices, enhancing user experience through personalized algorithms [1] Financial Performance - Revenue for the second fiscal quarter reached 146.4 billion RMB, a 15% increase compared to the previous year [1] - Adjusted net profit for the quarter was 3.66 billion RMB, reflecting a 25% year-on-year growth [1] Product Development - Lenovo is set to unveil its personal super intelligent agent at the Lenovo Innovation Technology Conference, aimed at creating a seamless AI experience across multiple devices [1] - The company has already launched the Lenovo Tianxi personal super intelligent agent in China earlier this year, emphasizing its "one body, multiple ends" strategy [1] - Lenovo is focusing on developing AI-enabled devices, including AI PCs, AI smartphones, AI tablets, and AIoT products, to lead the AI terminal market [1]