香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任 何損失承擔任何責任。 Lenovo Group Limited 聯想集團有限公司 ( 於香港註冊成立之有限公司 ) (港幣櫃台股份代號：992 / 人民幣櫃台股份代號：80992) 二零二五 / 二六年財政年度第三季業績公佈 第三季業績 聯想集團有限公司 (「本公司」) 董事會 (「董事會」) 在此宣佈，本公司及其附屬公司 (「本集團」) 截至二 零二五年十二月三十一日止三個月及九個月未經審核業績及去年同期的比較數字如下： 財務摘要 | | 截至二零二五年 | 截至二零二五年 | 截至二零二四年 | 截至二零二四年 | 年比年轉變 | | | --- | --- | --- | --- | --- | --- | --- | | | 十二月三十一日 | 十二月三十一日 | 十二月三十一日 | 十二月三十一日 | 截至 | 截至 | | | 止三個月 | 止九個月 | 止三個月 | 止九個月 | 十二月三十一日 | 十二月三十 ...

摩根士丹利发布研报称，维持联想集团(00992)"与大市同步"评级，目标价9.8港元，认为联想是最能够 缓解内存价格上升风险的公司。 虽然服务器数据尚未公布，但该行调查显示期内整体服务器需求强劲，因此将基础设施方案业务(ISG) 的收入预测上调至约50亿美元，相当于同比及按季增长27%及22%，较市场预期高8%。该行预期联想第 三财季收入约218亿美元，同比及按季增长16%及7%，较市场预期高5%；非香港财务报告准则经调整净 利润约为5.22亿美元，较市场预期高11%。 联想集团去年12月底止第三财季桌上型电脑出货量同比及按季分别升29%和11%，至450万台，较该行 及市场预期高约三成。手提电脑出货量约1,430万台，大致符合该行及市场预期。智能手机出货量表现 强劲，同比及按季分别升9%及4%至1,680万台，较该行及市场预期高9%。 ...

Core Viewpoint - Morgan Stanley maintains a "Market Perform" rating for Lenovo Group (00992) with a target price of HKD 9.8, indicating that Lenovo is well-positioned to mitigate the risks associated with rising memory prices [1] Group 1: Performance Metrics - For the third fiscal quarter ending December, Lenovo's desktop computer shipments increased by 29% year-on-year and 11% quarter-on-quarter, reaching 4.5 million units, which is approximately 30% higher than Morgan Stanley's and market expectations [1] - Laptop shipments totaled approximately 14.3 million units, aligning closely with Morgan Stanley's and market expectations [1] - Smartphone shipments showed strong performance, rising by 9% year-on-year and 4% quarter-on-quarter to 16.8 million units, exceeding Morgan Stanley's expectations by 9% [1] Group 2: Revenue and Profit Forecasts - Although server data has not yet been released, strong overall server demand was indicated in Morgan Stanley's survey, leading to an upward revision of the Infrastructure Solutions Group (ISG) revenue forecast to approximately USD 5 billion, reflecting year-on-year and quarter-on-quarter growth of 27% and 22%, respectively, and exceeding market expectations by 8% [1] - The anticipated revenue for Lenovo in the third fiscal quarter is approximately USD 21.8 billion, representing year-on-year and quarter-on-quarter growth of 16% and 7%, respectively, and surpassing market expectations by 5% [1] - Adjusted net profit under non-Hong Kong Financial Reporting Standards is projected to be approximately USD 522 million, exceeding market expectations by 11% [1]

Core Viewpoint - The global storage chip industry is experiencing an unprecedented "super cycle" driven by the explosive demand for AI infrastructure, leading to significant price increases in core categories such as DRAM, NAND, and HBM. This situation has made the profitability of end-device and infrastructure manufacturers a focal point for capital markets [1]. Group 1: Lenovo's Financial Performance - Lenovo Group is set to release its Q3 financial report for the fiscal year 2025/26, which is considered a critical indicator of how well end-device manufacturers can withstand cost pressures amid soaring global storage chip prices [1]. - Bloomberg forecasts Lenovo's Q3 revenue to reach approximately $20.76 billion, reflecting a year-on-year growth of about 10.4% from $18.8 billion [1]. - Despite achieving an adjusted net profit of $512 million in Q2 (a 25% year-on-year increase), analysts have lowered the average net profit expectation for Q3 to about $463 million due to significant fluctuations in storage chip costs [2]. Group 2: Supply Chain and Inventory Strategy - Lenovo's unique supply chain strategy has garnered significant market attention, as the company has strategically accumulated storage chips, with inventory levels approximately 50% higher than normal, potentially supporting production until the end of 2026 [3]. - The operational profit margin for Lenovo's Intelligent Devices Group (IDG), which includes personal computers and related businesses, was reported at 7.3% in Q2, and the market is keenly observing whether this performance can be sustained in Q3 [2]. - IDC has warned that hardware inflation caused by storage shortages could lead to a decline in global PC shipments by as much as 8.9% in 2026, highlighting the potential risks in the market [3].

Core Viewpoint - Lenovo Group has expanded its "SME Ecosystem Circle" through a collaboration with various investment and innovation partners to support small and medium enterprises (SMEs) in transitioning from "laboratory workbenches" to "billion-level markets" [1][3] Group 1 - The Lenovo Innovation Accelerator, originally launched in 2022, has grown its ecosystem to over 2,500 members and established strategic partnerships with local governments, large enterprises, and investment institutions [3] - In the previous fiscal year, Lenovo and its member companies generated a collaborative revenue of 1.5 billion yuan [3] - Lenovo has engaged in business collaborations with nearly 100 member companies, resulting in the delivery of over 60 Proof of Concept (PoC) projects [3] Group 2 - The recent event featured a theme of "Building Ecosystems through Collaboration and Driving the Future with Innovation," highlighting the commitment to support SMEs [1] - Lenovo has signed a memorandum of industrial ecological cooperation with Hangzhou's Shangcheng District to explore mechanisms for policy and industry collaboration [3] - The partnership with Pusong Incubator aims to enhance support for SMEs along the industrial chain, accelerating the implementation of Lenovo's dual empowerment system [3]

2月4日报道，根据香港联交所2月4日披露的文件，摩根大通(JPMorgan Chase & Co.)于1月29日以场内每 股均价9.0212港元，场外每股均价9.036港元合计增持$联想集团 (00992.HK)$5,477.26万股普通股股份， 价值约4.94亿港元。增持后，摩根大通最新持股数目为9.12亿股股份，好仓比例由6.90%升至7.35%。 ...

格隆汇2月4日丨根据联交所最新权益披露资料显示，2026年1月29日，联想集团(00992.HK)获JPMorgan Chase & Co.以每股均价9.0212港元增持好仓5477.26万 股，涉资约4.94亿港元。 增持后，JPMorgan Chase & Co.最新持好仓数目为911,794,651股，持好仓比例由6.90%上升至7.35%。 | 股份代號: | 00992 | | --- | --- | | 上市法國名稱: | 聯想集團有限公司 | | 日期 (日 / 月 / 年): | 04/01/2026 - 04/02/2026 | | 表格序號 | 大股東/董事/最高行政人員名 作出披露的 買入 / 費出或涉及的 每股的平均價 | | | 持有權益的股份數目 佔已發行的 有關事件的日期 在 | | | | --- | --- | --- | --- | --- | --- | --- | | | 股份數目 | 泉内 | | | | 有投票權股 (日 / 月 / 年) | | | | | | | | 元三十六 I | | | | | | | | 896 | | CS20260203E00400 ...

新华财经北京2月3日电（记者沈寅飞）近期，工业和信息化部等八部门发布《"人工智能+制造"专项行 动实施意见》，为"十五五"期间人工智能技术与制造业的深度融合提供了清晰的发展指引，引发市场广 泛关注。 联想集团董事长兼CEO杨元庆发文表示，"AI向实"是中国制造迈向全球价值链中高端的一次珍贵历史机 遇，立足差异化需求精准构建个人与企业的混合式人工智能是助力实现新型工业化的有效方式。 因此，杨元庆认为，"AI向实"是中国制造迈向全球价值链中高端的一次珍贵历史机遇。只有加速推 动"AI向实"，才能让中国制造把握住本轮产业变革机遇，完成在全球价值链上的跃迁发展。只有全力推 动"AI向实"，才能让实体经济成为中国在当前充满挑战的全球环境下乘风破浪、行稳致远的压舱石。 据了解，联想集团作为深耕科技制造领域的全球化企业，连续多年稳居Gartner全球供应链TOP25榜单， 2025年位列第8，连续四年蝉联亚太榜首。以混合式人工智能为核心架构，联想构建起完整的全栈AI技 术体系，在智能化转型中的探索与成效为行业标杆之一。 杨元庆指出，当前人工智能大模型技术与产业融合应用有三条技术路径：公共智能、私域智能以及将两 者混合并用的 ...

Core Viewpoint - Lenovo Group (00992.HK) submitted a monthly report on share changes to the Hong Kong Stock Exchange, indicating stability in its share structure and compliance with public holding requirements [1] Group 1: Share Capital and Issued Shares - As of January 31, 2026, Lenovo Group's authorized/registered share capital remained unchanged, with a total of 12,404,659,302 issued shares, consistent with the previous month [1] - There are no treasury shares reported, and the company confirms compliance with the applicable public holding requirement, which mandates that at least 25% of issued shares be held by the public [1] Group 2: Convertible Securities - The report updates information regarding convertible securities, specifically noting that 1,150,000,000 warrants issued on January 8, 2025, could potentially increase the share count by 1,187,625,838 shares if fully exercised at an exercise price of HKD 11.92 per share [1] - Additionally, the company issued USD 2,000,000,000 zero-coupon convertible bonds, which could convert into 1,610,618,556 shares at a conversion price of HKD 9.7 per share if fully converted [1]

Core Insights - The report indicates that enterprises are increasingly optimistic about the return on AI investments, with a potential return rate of up to 179% as Agentic AI becomes more widely adopted [2][3] - Despite the high expectations, there is a significant gap in AI readiness among organizations, with only 27% having established a robust AI governance framework [2][3] - The transition from Generative AI to Agentic AI is anticipated to occur by 2026, with Agentic AI expected to become the primary focus for CIOs [7][9] Investment Expectations - Enterprises expect AI investments to yield substantial returns, with nearly half (46%) of AI proof-of-concept projects successfully moving into production [3] - A majority (96%) of respondents plan to increase AI investments in the next 12 months, with an average growth rate of 13% [3][11] AI Readiness and Governance - While 60% of organizations believe they are in the mid-to-late stages of AI application, only 27% have a well-established AI governance framework [6][11] - The lack of data quality, skilled personnel, and organizational collaboration is widening the gap between AI aspirations and reality [6] Deployment Trends - Hybrid AI is becoming the preferred deployment model, with 62% of surveyed enterprises choosing it as their main architecture [2][7] - Currently, only 21% of CIOs have deployed Agentic AI in actual business operations, with over half (55%) still in exploratory or pilot phases [2][7] Infrastructure and Support - The successful implementation of Agentic AI will depend on organizations' long-term capabilities, including secure and efficient infrastructure and flexible hybrid architectures [9][11] - Lenovo is introducing solutions to help enterprises transition from pilot projects to scalable AI applications, emphasizing the importance of governance frameworks [11][12] Future Outlook - The role of AI is evolving from a supportive tool to a production entity, necessitating advanced reasoning capabilities and low-latency feedback [7][9] - AI PCs and edge devices are becoming critical components in enterprise AI strategies, directly empowering employees and ensuring business process security [10]