Core Insights - Lenovo Group reported a record high revenue of 136.2 billion RMB for Q1 of the 2025/26 fiscal year, marking a 22% year-on-year increase [1] - The net profit under non-Hong Kong financial reporting standards also grew by 22% to 2.816 billion RMB, with all main business segments achieving double-digit growth [1] - Non-PC business revenue now accounts for 47% of total revenue, indicating a continued optimization of the business structure [1] Revenue Growth by Region - Revenue in China increased by 36% year-on-year [1] - Revenue in the Asia-Pacific region (excluding China) grew by 39% [1] - Revenue in Europe, the Middle East, and Africa (EMEA) rose by 9% [1] - Revenue in the Americas increased by 14% [1] Strategic Advantages - Lenovo's unique "China + N" global manufacturing strategy supports robust growth by leveraging local operations in key markets to respond quickly to market demands and mitigate external risks [2] - The company operates over 30 self-owned or partnered manufacturing bases across 11 global markets, creating a resilient supply chain network [2] - Lenovo's ODM+ end-to-end operations model allows for effective management of cost pressures and market dynamics, ensuring sustainable growth [2] Innovation and AI Strategy - Lenovo's R&D investment saw double-digit growth in Q1, focusing on personal and enterprise intelligence innovations [3] - The company maintains the leading global market share in AI PCs, with over 30% of total PC shipments being AI PCs [3] - The smartphone business achieved a 14% revenue growth, with Moto's market share reaching a historical high [3] Enterprise Intelligence Growth - Revenue from Lenovo's AI infrastructure business surged by 155% year-on-year, with strong order reserves [4] - The company launched the "LeXiang" enterprise super intelligent system, marking a significant milestone in enterprise AI [5] Future Outlook - Lenovo is committed to continuous innovation and aims to deliver breakthrough innovations for customers while creating lasting value for stakeholders [6] - The company plans to showcase its latest AI advancements at the upcoming Lenovo Tech World event in January 2024 [5]

2025年8月14日，联想集团公布截至2025年6月30日的2025/26财年第一季度业绩。当季营收同比增长 22%至1362亿元人民币，创下历史同期新高；非香港财务报告准则下净利润同比增长22%，达28.16亿元 人民币。三大主营业务集团均实现双位数增长，非PC业务占比提升至47%，多元化增长结构持续优 化。 第一季度业绩沟通会上，联想集团不仅交出一份强劲成绩单，董事长兼CEO杨元庆更带来重磅消息： 2026年1月6日国际消费电子展期间，联想将于全球最大球形沉浸式体验中心——位于拉斯维加斯的 Sphere场馆举办联想Tech World创新科技大会，集中展示公司在人工智能、终端设备、基础设施和服务 等领域的最新技术突破。 业绩亮眼，韧性与底气兼备 财报显示，联想集团在第一季度实现稳健增长，营收和净利润均表现出色。 IDG智能设备业务集团：实现营收973亿元人民币，同比增长17.8%；PC业务以24.6%的市场份额稳居全 球第一，并以超20%的同比提升创下15个季度以来的最快增速。AI PC持续成为核心驱动，国际市场及 中国市场均实现双位数增长。旗下智能手机品牌摩托罗拉海外折叠屏细分市场份额超50%，稳居榜首 ...

2025年8月14日，联想集团公布截至2025年6月30日的2025/26财年第一季度业绩：当季营收同比增长 22%至1362亿元人民币，创历史同期新高；非香港财务报告准则下净利润同比增长22%达28.16亿元人民 币。 与此同时，今年5月推出的联想"天禧"个人超级智能体，已在AI PC产品全面搭载，具备端侧推理、高能 效和隐私保护优势。报告期内，天禧个人超级智能体WAU(每周活跃用户比例)平均值达40%，显示出个 人超级智能体的高使用黏性和价值转化潜力。 业绩沟通会上，联想集团董事长兼CEO杨元庆表示：人工智能时代带来了前所未有的增长机遇，我们正 坚定地执行混合式人工智能的战略。 在推进人工智能战略落地方面所取得的重要进展。 个人智能方面，AI PC渗透加速，已成为行业增长新引擎。机构数据显示，2025年AI PC出货量预计同 比增长77%，并有望在2027年达到PC总出货量的70%。可见，AI PC有望超越传统换机周期因素，成为 更强的市场动能。报告期内，联想的AI PC出货量占整体PC出货量超过30%，联想中国市场具备"五大 AI特性"的AI PC出货量占比已达笔记本总出货量的27%；Windows A ...

Core Viewpoint - Lenovo Group (0992.HK) demonstrates a long-term commitment to driving hybrid artificial intelligence innovation, as evidenced by a 10% year-on-year increase in R&D expenditure for Q1 of FY2026 [1] Group 1: Financial Performance - The Intelligent Devices Group reported a revenue increase of 18% and an operating profit increase of 15% year-on-year, primarily benefiting from the rising penetration of AI personal computers and rapid growth in high-end product sales [1] - Lenovo achieved a record high in global market share for personal computers, indicating strong competitive positioning in the market [1] - The smartphone business has recorded double-digit year-on-year revenue growth for seven consecutive quarters, showcasing consistent performance in this segment [1]

Group 1 - Lenovo Group reported a 22% year-on-year revenue growth in Q1 of FY 2025/26, reaching 136.2 billion RMB, marking a historical high for the same period [1] - The net profit under non-Hong Kong financial reporting standards increased by 22% year-on-year to 2.816 billion RMB, indicating a significant enhancement in profitability [1] - The global IT services market is expected to grow by 4.6% in 2025, with a compound annual growth rate (CAGR) of 7.8% from 2024 to 2027, driven by ongoing digital and intelligent transformation [1] Group 2 - SSG's revenue increased by 19.8% year-on-year to 16.3 billion RMB, achieving a historical high, with an operating profit margin of 22.2%, up by 1.2 percentage points [1] - Support services revenue experienced double-digit growth, rising by 12.2% year-on-year, while operations and maintenance services and project solutions saw significant increases of 36% and 18.3%, respectively [1] - DaaS (Device as a Service) emerged as a core engine for growth and profit in the quarter, while TruScale IaaS achieved over 200% year-on-year growth [2] Group 3 - The demand for AI-driven service upgrades continues to grow, with over 92% of enterprises planning to increase their AI service investments within three years [1] - SSG aims to enhance its capabilities under a hybrid AI advantage framework, focusing on digital office solutions, hybrid cloud, and sustainable development [2] - SSG plans to develop more simple, efficient, and scalable AI solutions in vertical fields to meet urgent customer needs and fully leverage Lenovo's hybrid AI advantages [2]

非PC业务营收占比升至47%，业务结构持续优化；研发投入实现超10%的双位数增长，进一步推动个人 智能与企业智能创新。 个人智能方面，联想继续巩固在全球AI PC市场的领导地位，并在中国推出搭载"天禧"个人超级智能体 的AI PC产品，强化了端侧推理、高能效与隐私保护等差异化优势。报告期内，联想的AI PC出货量占 整体PC出货量超过30%，中国市场具备五大特征的AI PC出货量占比已达笔记本总出货量的27%，"天 禧"个人超级智能体的用户活跃度显著提升，WAU（每周活跃用户比例）平均值达40%。联想也正加速 推进构建统一AI入口，探索跨终端、跨生态的智能体验新范式。 企业智能方面，联想集团正在构建以混合云平台、智能体管理平台和行业垂直解决方案库为核心的全栈 AI产品体系，助力客户加速部署企业级智能体。继在中国率先发布"乐享"企业超级智能体后，联想正在 构建人工智能模型工厂，开发智能体平台，以推进联想混合式人工智能优势集的全面落地。报告期内， 联想集团AI基础设施业务营收同比增长155%。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 新浪科技讯 8月14日上午消息，联想集团公布截 ...

Group 1 - Lenovo Group reported a 22% year-on-year revenue growth in Q1 of FY2025/26, reaching 136.2 billion RMB, marking a historical high for the first fiscal quarter [1] - The net profit under non-Hong Kong Financial Reporting Standards also grew by 22% to 2.816 billion RMB, while under Hong Kong standards, it doubled to 3.66 billion RMB, indicating a significant enhancement in profitability [1] - All business segments and regions achieved double-digit growth, showcasing a strong start to the fiscal year [1] Group 2 - Lenovo established a forward-looking hybrid AI technology path in 2023, aiming to realize the vision of AI democratization [2] - The acceleration of AI applications is evidenced by the recent impressive performances of companies like Meta and OpenAI, indicating that the AI industry is entering a "value realization phase" [2] - Lenovo's dual-engine growth in personal and enterprise intelligence contributed to its robust performance, with AI playing a substantial role in revenue generation [2] Group 3 - In personal intelligence, Lenovo solidified its leadership in the global AI PC market, with AI PCs accounting for over 30% of total shipments and a 31% market share in the global Windows AI PC segment [3] - The introduction of the "Tianxi" personal super intelligent agent has significantly increased user engagement, with a weekly active user ratio averaging 40% [3] - The accelerated penetration of AI PCs has also driven growth in high-end PC shipments and average selling prices, with the intelligent device business group achieving nearly 100 billion RMB in revenue, a year-on-year increase of 18% [3] Group 4 - In enterprise intelligence, Lenovo is building a comprehensive AI product system centered around hybrid cloud platforms and intelligent management solutions [4] - The ISG infrastructure solutions business group saw a revenue increase of 35.8%, with AI infrastructure revenue growing by 155% year-on-year, indicating strong order reserves [4] - Lenovo's "super intelligent agent," launched at the Tech World conference, features core capabilities of perception, cognition, and autonomous learning, aiming to create a user-centric AI ecosystem [4] Group 5 - Looking ahead, Lenovo plans to continue executing its hybrid AI strategy and innovate in personal and enterprise intelligence products to enhance operational competitiveness and achieve sustainable growth [5] - The company will host its largest-ever Lenovo Tech World innovation conference in Las Vegas on January 6, showcasing its latest technological breakthroughs [5]

Core Insights - Lenovo Group reported a strong Q1 performance for the fiscal year 2025/26, with revenue reaching 136.2 billion RMB, a 22% year-on-year increase, marking a historical high for the first quarter [1][5] - The company achieved a net profit of 2.816 billion RMB under non-Hong Kong Financial Reporting Standards, also a 22% increase year-on-year, demonstrating enhanced profitability [1][6] - Lenovo's performance is notable given the challenges posed by the Trump tariff war affecting global trade and supply chains, showcasing the company's resilience [1] Business Segments Summary IDG (Intelligent Devices Group) - IDG's revenue reached 97.3 billion RMB, a 17.8% year-on-year growth, with PC business achieving the fastest growth in 15 quarters [2][7] - The global PC market is recovering, with Lenovo holding a 24.6% market share, an increase of 3.9 percentage points from the second place [7] - AI PCs are driving growth, with Lenovo's AI PC shipments accounting for over 30% of total PC shipments globally, and 27% in the Chinese market [8] ISG (Infrastructure Solutions Group) - ISG's revenue grew by 35.8%, with AI infrastructure revenue increasing by 155% year-on-year, reflecting strong demand for AI solutions [2][10] - The company is focusing on a dual-track strategy in cloud and enterprise infrastructure, which is expected to sustain growth and profitability [11] SSG (Solutions and Services Group) - SSG achieved a revenue increase of 19.8% to 16.3 billion RMB, with an operating profit margin of 22.2%, solidifying its position as a core profit engine [12] - High-value services now account for nearly 60% of SSG's revenue, with significant growth in operational services and project solutions [12][13] - DaaS (Device as a Service) has become a key growth driver, reflecting customer demand for flexible service models [13] Strategic Initiatives - Lenovo is committed to its hybrid AI strategy, investing over 10% more in R&D to enhance its competitive edge in both personal and enterprise intelligence [3][4] - The company is building a comprehensive AI product ecosystem, focusing on mixed cloud platforms and industry-specific solutions to accelerate enterprise-level AI deployment [4][10] - Lenovo aims to create a unified AI experience across devices, enhancing user engagement and operational efficiency [9]

Core Insights - Lenovo Group reported a strong performance for the first quarter of the fiscal year 2025/26, with revenue reaching $18.83 billion, a year-on-year increase of 22% [1] - The company achieved a net profit attributable to equity holders of $505 million, marking a significant year-on-year increase of 108% [1] - All three business groups—Infrastructure Solutions Group, Solutions Services Group, and Intelligent Devices Group—experienced robust double-digit year-on-year revenue growth [1] Revenue Growth - The Intelligent Devices Group saw its fastest year-on-year revenue growth in the past 15 quarters, with the personal computer segment achieving a global market share of 24.6%, a record high [1] - The smartphone business has recorded double-digit year-on-year revenue growth for seven consecutive quarters [1] - The Infrastructure Solutions Group experienced strong revenue growth driven by a dual strategy of resilient cloud infrastructure and enterprise infrastructure, with AI server business revenue more than doubling year-on-year [1] Profitability and Efficiency - The operating profit margin for the first quarter was 3.4%, while the net profit margin stood at 2.1%, reflecting continuous improvement in profitability [2] - The company enhanced its product mix and significantly improved its service offerings, leading to increased operational efficiency [2] - Despite facing tariff changes, Lenovo leveraged its global manufacturing capabilities and unique ODM+ model to enhance supply chain resilience and cost-effectiveness [2] Research and Development - R&D investment increased by 10% year-on-year, supporting the development of a hybrid AI strategy and strengthening the company's AI capabilities [2] - Lenovo is executing its AI strategy precisely, seizing unprecedented opportunities in the AI sector, and working towards its vision of "Intelligence for Every Possibility" [2] Global Market Presence - The company operates in 180 markets globally, achieving balanced growth across regions, with contributions to total revenue ranging from 20% to 33% from Asia-Pacific, China, Europe-Middle East-Africa, and the Americas [2]

Core Viewpoint - Lenovo Group is set to showcase its technological innovations at the Tech World 2026 event in Las Vegas, marking a significant partnership with Sphere Entertainment Co. and highlighting the integration of AI in global sports events, particularly the upcoming AI World Cup and F1 experiences [3][4][5]. Group 1: Event Overview - The Tech World 2026 will be held at Sphere, coinciding with CES 2026, and will feature Lenovo's role as the official technology partner, emphasizing a long-term global partnership [3][4]. - Lenovo's CEO, Yang Yuanqing, stated that the event will reveal how Lenovo technology is transforming the F1 experience and will introduce the first AI World Cup in collaboration with FIFA [4][5]. Group 2: AI World Cup and F1 Integration - The Tech World 2026 is described as a multi-sensory showcase centered around FIFA and F1, where Lenovo will unveil the latest technological advancements for the 2026 FIFA World Cup, including smart analytics and immersive viewing experiences [5][9]. - Lenovo's involvement in the 2025 FIFA Club World Cup demonstrated its commitment to integrating AI technology into sports, achieving $2.1 billion in revenue and marking a new era for club football [9][11]. Group 3: Sphere Venue Features - Sphere is highlighted as the world's first fully immersive dome venue, featuring a massive LED screen area of approximately 54,000 square meters and an immersive sound system with around 1,600 fixed and 300 movable speakers [13][14]. - Lenovo will not only host the event but also contribute to content creation and technology development, aiming to deliver an unprecedented interactive viewing experience for fans [14][15]. Group 4: Future Expectations - As the countdown to the 2026 FIFA World Cup begins, global anticipation for the AI-enhanced football event is rising, with Lenovo poised to ignite this excitement at Tech World 2026 [15].