LENOVO GROUP(HK:00992) 智通财经网·2025-08-14 03:27Group 1 - Lenovo Group reported a strong Q1 performance for the fiscal year 2025/26, with total revenue reaching 136.2 billion RMB, a year-on-year increase of 22%, marking a historical high for the first fiscal quarter [1] - The net profit, calculated according to non-Hong Kong financial reporting standards, also grew by 22% year-on-year, reaching 2.82 billion RMB, with all main business segments achieving double-digit growth [1] - The non-PC business revenue share increased to 47%, indicating a continuous optimization of the business structure [1] Group 2 - The ISG infrastructure solutions business saw a significant revenue increase of 36% year-on-year, driven by a dual-track strategy focusing on cloud infrastructure and enterprise infrastructure [1] - AI infrastructure business revenue experienced explosive growth, increasing by 155% year-on-year, with strong order reserves [1][2] - In the Chinese market, ISG revenue grew by 76%, and operating profit margin improved by 3 percentage points [1] Group 3 - The market for enterprise IT infrastructure is rapidly evolving, with new technology revolutions creating new demands and expanding the market [2] - Lenovo has successfully anticipated these changes and adapted by increasing investments, as evidenced by a fourfold revenue increase in ISG business over the past decade [2] - The company remains committed to investing in traditional enterprise business model transformations, cloud computing, and AI infrastructure innovation despite short-term profit pressures [2] Group 4 - Nomura Securities has a positive outlook on Lenovo's AI server business, expecting it to secure more orders in the Chinese market, and has raised the target price to 14 HKD with an upgraded rating to "Buy" [3] - The demand for high-performance and flexible hybrid AI infrastructure is increasing as enterprises accelerate their intelligent transformation [3] - With a robust dual-track strategy, leading technological capabilities, and a global customer base, Lenovo's ISG business is expected to achieve sustainable growth and better profitability in the medium to long term [3]