Financial Data and Key Metrics Changes - The group revenue reached an all-time high of $20.5 billion, growing at almost 15% year-on-year [2][11] - Adjusted net income increased more than 25% year-on-year to $512 million, with an adjusted net income margin expanding to 2.5% [2][11] - AI-related revenues accounted for 30% of the group's total, increasing by 13 percentage points year-on-year [2][11] Business Line Data and Key Metrics Changes - Intelligent Devices Group (IDG) revenue exceeded $15 billion, with 12% year-on-year growth [6][15] - Infrastructure Solutions Group (ISG) revenue grew 24% year-on-year to exceed $4 billion [8][17] - Solutions and Services Group (SSG) achieved 18% year-on-year revenue growth, marking the 18th consecutive quarter of double-digit expansion [9][20] Market Data and Key Metrics Changes - The PC market share exceeded 25% for the first time in Lenovo's history, reaching a historic high of 25.6% global market share [6][11] - The smartphone business achieved record-high concurrent quarter activations, driven by solid end-user demand [11][12] - All reported geographies delivered double-digit year-on-year revenue growth, reinforcing balanced strength across 180 markets [12] Company Strategy and Development Direction - The company is focusing on AI democratization, with significant progress in personal AI and enterprise AI [2][3] - The strategy includes leveraging a unique global local model to navigate uncertainties and capture hybrid AI opportunities [3][4] - The company aims to create an enterprise AI twin for customers, driving data into insights and value [7][8] Management's Comments on Operating Environment and Future Outlook - Management sees positive signs of stabilization despite uncertainties in the external environment [2] - The company is confident in maintaining double-digit growth in both PC and server businesses over the next two quarters [31] - The outlook for the overall group remains strong, with reaffirmation of estimates despite some market fluctuations [73] Other Important Information - The company is recognized for its leadership in ESG, ranking eighth in Gartner Supply Chain Top 25 [22] - The upcoming Tech World event is expected to showcase new innovations in personal AI [4][59] Q&A Session Summary Question: Impact of memory price on margin - Management believes they are in a better position to manage supply shortages and rising component costs due to strong supplier relationships and procurement power [30][31] Question: PC outlook for next year - The company is optimistic about maintaining double-digit growth and expanding market share despite rising storage and memory component prices [34][35] Question: Smartphone outlook for 2026 - The smartphone market is expected to grow in single digits, with a focus on premium devices that are less affected by component cost increases [36][39] Question: Opportunities in hybrid AI infrastructure - The company is leveraging its hybrid AI strategy to resonate with customer needs, focusing on agility and flexibility [42][43] Question: General server demand outlook - Continued high double-digit growth is expected in the CSP segment, with high single-digit growth in the ESMB segment [56][63] Question: AI server strategy - The company is focusing on inferencing services and capabilities, which are becoming increasingly important for enterprise customers [70] Question: Overall business outlook - The company reaffirms strength in order levels, particularly for PCs, and maintains confidence in market estimates [73][74]