联想SSG二季度营收同比增长18% AI相关方案业务营收占比超60%

Core Insights - Lenovo Group reported a 15% year-on-year revenue growth for Q2 of FY 2025/26, reaching 146.4 billion RMB, marking a record high for the quarter and significantly exceeding market expectations [1] - The Solutions and Services Group (SSG) achieved an 18% year-on-year revenue increase, maintaining double-digit growth for the 18th consecutive quarter, with an operating profit margin exceeding 22%, making it the most profitable business unit within the group [1] - AI services revenue experienced triple-digit growth, becoming a crucial driver for both business scale and value enhancement, aligning with Lenovo's hybrid AI strategy [1] Business Structure - The "high-value curve" of SSG continues to rise, with the combined revenue from project and solution services and operational services now accounting for approximately 60% of SSG's total revenue, an increase of one percentage point from the previous year [1] - Project and solution services saw a 13% year-on-year growth, indicating that AI solutions based on industry scenarios are entering a replicable and scalable phase [1] - SSG's operational services are accelerating, with TruScale's Device as a Service (DaaS) revenue growing by 43% year-on-year, and Infrastructure as a Service (IaaS) maintaining a strong revenue growth of 55%, while enhancing modular services to meet customer demands [1] Strategic Positioning - Under the hybrid AI advantage architecture, SSG is leveraging core capabilities such as "AI model factory, AI application library, and AI services" to create replicable and scalable AI solutions in key vertical industries and general solution areas, accelerating the democratization of AI for enterprises [2] - SSG's high value and high profit margins provide Lenovo with growth momentum that transcends hardware cycles, solidifying its strategic position as a long-term profit and growth "ballast" for the company [2]