LENOVO GROUP(HK:00992) Di Yi Cai Jing·2025-05-08 13:57Core Viewpoint - Lenovo's Chairman and CEO Yang Yuanqing emphasized that China's complete manufacturing ecosystem, efficient supply chain network, and strong R&D capabilities serve as a "stabilizing force" for the company amid global trade challenges, particularly tariffs [2][3]. Group 1: Global Strategy and Manufacturing - Lenovo's "global resources, local delivery" strategy is centered around China, which acts as the manufacturing hub, R&D center, and supply chain core, enabling the company to mitigate risks associated with traditional globalization [3]. - The company employs an "ODM+" model, integrating product design, manufacturing, and marketing, allowing for rapid supply chain restructuring in response to tariff changes [3][4]. - Lenovo has established a "1+N" distributed supply chain network with 33 factories across 11 countries, enhancing local production capabilities to minimize tariff impacts [3][4]. Group 2: Response to Tariff Pressures - Yang highlighted that Lenovo is not afraid of tariffs but rather the uncertainty they bring, having developed a mature "policy response mechanism" over 20 years to address various countries' tariff policies [5]. - The company can quickly reorganize production and supply chains within months, compared to competitors who may take 1-2 years, providing a significant agility advantage [5][6]. Group 3: Competitive Advantages - Lenovo's scale and cost control are bolstered by a unified global R&D platform and procurement system, allowing for efficient logistics and cost optimization [6]. - The company's commitment to maintaining market share and profits is rooted in its confidence in its business model, which emphasizes local delivery capabilities and customized products [7]. Group 4: Insights for Chinese Enterprises - Lenovo's success illustrates that globalization involves not just product output but also capability output and local integration, urging other companies to develop local production, R&D, and service systems [8]. - Companies should enhance supply chain flexibility and maintain control over core processes to navigate global trade uncertainties effectively [8]. Group 5: Conclusion on New Globalization - Lenovo's practices demonstrate that true global competitiveness lies in integrating global resources with local value creation, showcasing a new paradigm for Chinese enterprises in the global market [9].