Core Insights - Lenovo Group reported a record high revenue of 146.4 billion RMB for the second quarter of the fiscal year 2025/26, representing a 15% year-on-year growth [1] - Adjusted net profit increased by 25% year-on-year, reaching 3.66 billion RMB [1] Financial Performance - Revenue for the quarter grew by 15% to 146.4 billion RMB, marking a historical high for the fiscal quarter [1] - Adjusted net profit rose by 25% to 3.66 billion RMB [1] - Operating cash flow reached 2.8 billion USD, supported by revenue growth and improved inventory management [1] - Free cash flow increased to 1.9 billion USD, providing strong support for growth across all business groups [1] - Adjusted net financial costs decreased by 27% year-on-year after excluding nominal interest on convertible bonds, indicating effective cost-saving measures [1] Strategic Initiatives - Research and development expenditure grew by 8% year-on-year, driving the development of a hybrid artificial intelligence strategy [1] - Lenovo launched a comprehensive range of AI-driven devices and experiences during the "Lenovo Innovation World 2025" event, covering consumer, commercial, and mobile device sectors [1] - The new product lineup includes high-performance personal computers, smart tablets, immersive gaming devices, and Motorola smartphones, reflecting the company's vision of "AI for All" [1]

Core Viewpoint - Lenovo Group reported a record high revenue of 146.4 billion RMB for the second fiscal quarter of 2025/26, marking a 15% year-on-year increase, with adjusted net profit rising by 25% to 3.66 billion RMB [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 grew by 25% to 3.66 billion RMB [1] - Operating cash flow reached 2.8 billion USD, supported by revenue growth and improved inventory management [1] - Free cash flow increased to 1.9 billion USD, providing strong support for growth across all business groups [1] - Adjusted net financial costs decreased by 27% after excluding nominal interest on convertible bonds, indicating effective cost-saving measures [1] Research and Development - R&D expenditure increased by 8% year-on-year, driving the development of a hybrid artificial intelligence strategy [1] - Lenovo continues to invest in its artificial intelligence development blueprint, capitalizing on opportunities presented by hybrid AI [1] Product Launches - At the "Lenovo Innovation World 2025" event, the company launched a full suite of AI-driven devices and related experiences across consumer, commercial, and mobile sectors [1] - The new product lineup includes high-performance personal computers, smart tablets, immersive gaming devices, and Motorola smartphones, reflecting the company's vision of "AI for All" [1]

Core Insights - Lenovo Group's Chairman and CEO Yang Yuanqing announced the signing of long-term supply contracts with key component suppliers to address the rising prices of storage chips driven by surging demand for artificial intelligence (AI) [1] - Yang expects that the shortage and price increases of storage components will not be a short-term issue and may persist throughout the next year [1] - The company aims to ensure sufficient supply and competitive costs through these long-term contracts, allowing it to maintain its gross and net profits while remaining competitive in the market [1]

Core Viewpoint - Lenovo Group reported a record high revenue of 146.4 billion RMB for the second quarter of the fiscal year 2025/26, reflecting a year-on-year growth of 15% and an adjusted net profit increase of 25% to 3.66 billion RMB [1] Financial Performance - Revenue for the second quarter reached 146.4 billion RMB, marking a 15% increase year-on-year [1] - Adjusted net profit rose by 25% to 3.66 billion RMB [1] Supply Chain Management - Lenovo's Chairman and CEO, Yang Yuanqing, stated that the company has the capability to manage supply shortages and price increases better than competitors [1] - The company has long-term contracts with key suppliers, ensuring sufficient storage supply for the entire next year [1] Business Confidence - Yang expressed strong confidence in the infrastructure business, including servers, asserting that rising component prices will not impact gross or net profit [1] - The company remains optimistic about maintaining market competitiveness while preserving gross and net profit in the long term [1]

Core Viewpoint - Lenovo Group's Chairman and CEO Yang Yuanqing announced the launch of a personal super intelligent agent at the Lenovo Innovation Technology Conference on January 6, which will integrate various wearable and environmental sensing devices to create a personalized user experience [1] Group 1 - The personal super intelligent agent will be capable of coordinating with various portable devices and will continuously learn user habits and predict intentions through personalized algorithms and models [1] - The intelligent agent aims to become a user's personal digital twin by listening, seeing, and remembering what the user does [1]

Core Insights - The first wave of artificial intelligence (AI) has led to a surge in demand for AI infrastructure, particularly large-scale computing power for training models [1] - The focus of AI development is shifting towards user-centric and enterprise-centric applications, emphasizing personalization, efficiency, security, and sustainability [1] - This trend is expected to create significant growth opportunities for various forms of AI terminal devices, hybrid infrastructures combining public, private clouds, and local data centers, as well as diverse solutions and services [1] Company Strategy - Lenovo is advancing a multi-device strategy to meet the growing demand for highly personalized AI experiences based on individual user experiences, memories, behaviors, and knowledge [1]

在业绩发布会上，联想集团董事长兼CEO杨元庆再度强调了对混合式人工智能战略的坚定信心，"我们 既为创记录的业绩感到自豪，也为我们的愿景满怀信心，更对广阔的市场机遇充满期待。我们相信通过 推进混合式人工智能战略，我们将为股东创造长期可持续的回报，更将实现千人千面千企千样的智能， 让人工智能真正惠及每一个企业和每个个人。"（新浪科技） ...

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。"（新浪科技） ...

财报显示，集团当季营收204.5亿美元，同比增长15%；经调整后净利润5.12亿美元，同比增长25%。 截至2025年9月30日止6个月，集团营收392.8亿美元，同比增长18%；经调整后净利润9.01亿美元，同比 增长24%。 北京商报讯（记者 陶凤 王天逸）11月20日，联想集团披露截至2025年9月30日的2025/26财年第二财季 业绩。 ...

Core Insights - Lenovo Group reported a revenue of 146.4 billion yuan for the second fiscal quarter of 2025/2026, marking a 15% year-on-year increase, with adjusted net profit rising by 25% to 3.66 billion yuan [1] - The company achieved double-digit revenue growth across all business segments and regional markets, with the IDG smart devices business generating 108.1 billion yuan, a 12% increase, and capturing over 25% market share in the personal computer sector [1] - AI-related business revenue now accounts for 30% of total revenue, up 13 percentage points year-on-year, indicating AI's transition from a supportive role to a core growth driver for Lenovo [1][2] Business Segment Performance - The ISG infrastructure solutions business saw revenue of 29.3 billion yuan, a 24% increase, with significant growth in AI infrastructure revenue [1] - The SSG solutions and services business experienced nearly 20% year-on-year revenue growth, achieving double-digit growth for the 18th consecutive quarter while maintaining high profit margins [1] - In the personal smart devices sector, Lenovo's AI PC market share reached 31.1%, maintaining the global lead, with AI terminal device revenue rising to 36% of IDG's total revenue, a 17 percentage point increase [2] Strategic Direction - Lenovo's CEO emphasized the company's commitment to leveraging a "global resources, local delivery" model to navigate uncertainties and capitalize on the growth opportunities presented by hybrid AI [3] - The company plans to launch a personal super-intelligent device at the upcoming innovation technology conference in January 2026, enhancing the capabilities of terminal devices [2]