Core Insights - Lenovo Group reported a 22% year-on-year revenue growth to 136.2 billion RMB for Q1 of FY 2025/26, achieving a historical high for the same period [1] - The company demonstrated resilience amid global trade disruptions caused by the Trump tariff war, maintaining competitiveness and market share [1] - Lenovo's three main business groups capitalized on AI-driven structural growth opportunities, entering a "value realization period" [1] Financial Performance - Non-Hong Kong Financial Reporting Standards net profit increased by 22% to 2.816 billion RMB, indicating enhanced profitability [1] - The Intelligent Devices Group (IDG) revenue reached 97.3 billion RMB, growing 17.8%, with the PC business achieving its fastest growth in 15 quarters [1] - Infrastructure Solutions Group (ISG) revenue grew by 35.8%, while Solutions and Services Group (SSG) revenue increased by 19.8%, with an operating profit margin of 22.2% [1] Business Strategy - Non-PC business revenue accounted for 47% of total revenue, indicating a more balanced growth structure [2] - Lenovo is leveraging PCs to drive multi-business collaborative growth, creating a positive feedback loop from personal to enterprise intelligence [2] - In the personal intelligence sector, Lenovo solidified its leadership in the global AI PC market, with AI PC shipments exceeding 30% of total PC shipments [2] AI Development - Lenovo launched AI PCs featuring the "Tianxi" personal super intelligent agent, enhancing edge inference, energy efficiency, and privacy protection [2] - The enterprise intelligence segment saw a 155% year-on-year growth in AI infrastructure revenue, supported by a comprehensive AI product ecosystem [2] - The company aims to continue executing its hybrid AI strategy, focusing on innovation in personal and enterprise intelligence products and solutions for sustainable growth [2]

联想集团8月14日公布的截至2025年6月30日2025/2026财年第一季度业绩显示，营收1362亿元，同比增 长22%；非香港财务报告准则下净利润同比增长22%，达28.16亿元。 据介绍，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。继发布"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%。 在联想集团三大主营业务集团中，IDG智能设备业务集团实现营收973亿元，同比增长17.8%；ISG基础 设施方案业务集团营收实现35.8%的增长；SSG方案服务业务集团收入增长19.8%，运营利润率达 22.2%，核心利润引擎地位进一步稳固。 联想集团董事长兼CEO杨元庆表示，联想将继续坚定执行混合式人工智能战略，推进人工智能普惠的愿 景，在个人智能与企业智能产品/方案方面不断创新，不断增强运营竞争力，实现可持续的增长和盈利 提升。 得益于多元化增长引擎持续加速，联想集团该财季非PC业务营收占比进一步提升至47%，驱动集团增 长结构更趋均衡的同时，也为 ...

Core Insights - Lenovo Group reported a strong Q1 FY2025/26 performance with revenue reaching 136.2 billion RMB, a 22% year-on-year increase, marking a historical high for the same period [1][5] - Non-Hong Kong Financial Reporting Standards net profit also grew by 22% to 2.816 billion RMB, showcasing enhanced profitability [1][6] - The company successfully navigated challenges posed by geopolitical tensions and trade disruptions, maintaining competitive advantages and market share [1][4] Financial Performance - Revenue of 136.2 billion RMB represents a 22% increase year-on-year, achieving a historical high for Q1 [5] - Non-Hong Kong Financial Reporting Standards net profit increased by 22%, while profit under Hong Kong standards doubled to 3.66 billion RMB, influenced by stock price fluctuations [4][6] - IDG smart device business group revenue grew by 17.8%, with PC market share reaching a record 24.6% [6][7] - ISG infrastructure solutions business group revenue surged by 35.8%, with AI infrastructure revenue doubling [6][10] - SSG solutions services business group revenue increased by 19.8%, achieving a new high with an operating profit margin of over 22% [6][12] Business Segments - The non-PC business revenue share rose to 47%, indicating a more balanced growth structure and supporting the company's AI strategy [2][6] - IDG's revenue reached 97.3 billion RMB, with AI PC shipments accounting for over 30% of total PC shipments globally [7][8] - ISG's AI infrastructure business saw a remarkable 155% year-on-year revenue growth, driven by strong demand for AI solutions [10][11] - SSG achieved a revenue increase of 19.8% to 16.3 billion RMB, with high-value services making up nearly 60% of total revenue [12][13] Strategic Initiatives - Lenovo is accelerating its "AI + terminal" strategy, leveraging PC as a pivot to drive collaborative growth across IDG, ISG, and SSG [2] - The company is investing over 10% more in R&D to enhance its long-term competitiveness in the mixed AI era [2][4] - Lenovo continues to innovate in personal and enterprise intelligence products, aiming for sustainable growth and profitability [4][12]

2025年8月14日——全球数字经济领导企业联想集团(00992)（ADR：LNVGY）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，盈利能力显著增强，赢得新财年"开门红"的 强劲起势。 这一亮眼业绩，正是在特朗普关税战对全球贸易和供应链开始造成巨大扰动期间取得，因此殊为不易。 同时也兑现了管理层在上一季的承诺：面对复杂地缘政治环境挑战，联想集团将凭借ODM+端到端运 营，以及"全球资源、本地交付"的独特模式，"竞争力不降、市场份额不掉、盈利不减"。 不仅如此，在全球AI竞赛正如火如荼的市场环境中，联想集团三大主营业务集团均把握住了AI所带来 的结构性增长机遇，加速迈进"价值兑现期"：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%，其中PC业务更是创下15个季度以来最快增速；ISG基础设施方案业务集团营收实现35.8%的强 劲增长；SSG方案服务业务集团收入增长19.8%再创新高，运营利润率达22.2%，核心利润引擎地位进一 步稳固。 得益于 ...

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 same period [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 diversified growth strategy has led to a 47% revenue contribution from non-PC businesses, indicating a balanced growth structure and solid foundation for its AI initiatives [2][6] Financial Performance - Revenue for the first quarter reached 136.2 billion RMB, a 22% increase year-on-year, setting a record for the first fiscal quarter [5] - Non-Hong Kong Financial Reporting Standards net profit increased by 22% to 2.816 billion RMB, while under Hong Kong standards, net profit doubled to 3.66 billion RMB due to stock price fluctuations [4][6] - The IDG smart device business group saw a revenue increase of 17.8%, with a PC market share of 24.6%, the highest in history [6][7] Business Segments IDG (Intelligent Devices Group) - IDG achieved a revenue of 97.3 billion RMB, a 17.8% year-on-year growth, with AI PCs driving significant market performance [6][7] - AI PC shipments accounted for over 30% of total PC shipments globally, with a notable 27% share in the Chinese market [3][7] - The global PC market is recovering, with a 6.5% year-on-year increase in shipments, supported by Windows 11 upgrade demand [6][7] ISG (Infrastructure Solutions Group) - ISG reported a robust revenue growth of 35.8%, with AI infrastructure revenue increasing by 155% year-on-year [6][9] - The dual-track strategy of cloud and enterprise infrastructure is driving ISG's strong performance, particularly in the Chinese market, where revenue grew by 76% [9][10] - The global server market is projected to grow by 44.6% in 2025, with significant demand for AI infrastructure [9][10] 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% [11][12] - High-value services now account for nearly 60% of SSG's revenue, with support services and operational services showing strong growth [11][12] - DaaS (Device as a Service) is becoming a core growth engine, with significant demand for flexible service models [12] Strategic Initiatives - Lenovo is accelerating its "AI + terminal" strategy, leveraging its PC business to drive growth across IDG, ISG, and SSG [2][3] - The company is investing over 10% more in R&D to enhance its competitive edge in the mixed AI landscape [2][4] - Lenovo aims to create a unified AI experience across devices, enhancing user engagement and operational efficiency [3][8]