Core Viewpoint - UBS expects Lenovo Group (00992) to report earnings next month that meet expectations, with adjusted profits increasing year-on-year and sales remaining stable [1] Financial Performance - ISG (Infrastructure Solutions Group) is projected to grow by approximately 20% year-on-year [1] - SSG (Solutions and Services Group) is expected to see high double-digit growth [1] - Lenovo's PC business growth is anticipated to exceed market levels, with a year-on-year increase in the low to mid double digits [1] - Operating profit margin is expected to stabilize between 7% and 7.5% [1] - The net profit forecast is maintained at $440 million, up from a previous estimate of $435 million, with adjusted net profit expected to exceed prior estimates by $150 million to $200 million due to the impact of warrants and convertible interest [1] Strategic Initiatives - The company continues to adjust its enterprise product portfolio in the infrastructure business to achieve profitability, although higher storage costs will delay significant positive contributions [1] - Lenovo aims to expand its AI business, which currently accounts for a low single-digit percentage of sales [1] Target Price Adjustment - UBS has raised Lenovo Group's target price to HKD 12 [1]