

Core Insights - Lenovo Group has been recognized in Forbes China's 2025 "Top 30 Chinese Enterprises in International Operations" list due to its scalable overseas revenue, technology-driven growth model, and global collaboration capabilities [2][3] - The average overseas revenue growth for the listed companies is 63.2%, with a median contribution of 45.5% from overseas revenue, while Lenovo's overseas revenue for the fiscal year 2024 reached 381.67 billion RMB, accounting for 77% of its total revenue, significantly higher than most listed companies [2] - Lenovo maintains a leading position in the global PC market with a 23.7% market share and has achieved the highest sales in the AI PC category within the Windows AI PC segment, which is a key driver for overseas consumer revenue growth [2] Business Strategy - Lenovo's international operations are not reliant on a single product but are based on a "hybrid AI" strategy that encompasses a global business ecosystem covering consumer terminals and enterprise services, distinguishing it from other companies on the list [3] - By deepening its presence in overseas markets, Lenovo effectively integrates global resources to benefit the domestic market, with approximately 80% of its manufacturing, 70% of its R&D personnel, and 60% of its employees based in China, while over 70% of its revenue comes from overseas [3] Future Outlook - As global AI technology transitions from a "competition phase" to a "implementation phase," Lenovo's international operations have significant expansion potential [3] - The demand for AI PCs is expected to continue growing, with IDC predicting that by 2025, AI PC shipments will account for over 40% of total PC shipments, allowing Lenovo to further increase its overseas market share [3] - The application scenarios for hybrid AI in industries such as manufacturing, healthcare, and education are expected to diversify, enabling Lenovo to leverage its global R&D and supply chain network to replicate its domestic technological experiences in international markets, forming a new growth logic of "global technology collaboration and regional market customization" [3]