联想集团财报解读:现金流强劲 研发投入成持续增长源泉
Ge Long Hui·2025-11-20 07:10

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]