Core Insights - Shenzhen, as a pioneering area for China's reform and opening-up, has demonstrated robust economic growth and resilience over 45 years, exemplified by rapid advancements in technology and manufacturing [1] - Lingxiong Technology Group, a leading private enterprise in Shenzhen, has developed a comprehensive DaaS (Device as a Service) model, significantly aiding thousands of companies in cost reduction and high-quality development [1][2] Company Development - Lingxiong Technology started in 2004 from a small rental business in Huaqiangbei and has evolved into a publicly listed DaaS leader, focusing on a full lifecycle management ecosystem for IT equipment [2] - The company has established branches in 19 major cities across China, addressing the IT equipment lifecycle management challenges faced by numerous enterprises [2] Financial Performance - In 2024, Lingxiong Technology reported a revenue increase of 32.3% year-on-year, reaching approximately 2.372 billion yuan, with the equipment recycling business growing by 42.7% to about 1.836 billion yuan [2] - The subscription service for equipment generated approximately 380 million yuan, reflecting a 9.1% increase, while IT technical services maintained steady growth with revenues around 156 million yuan [2] Industry Growth - The DaaS market in China is projected to maintain a compound annual growth rate of over 30%, expected to exceed 100 billion yuan by 2025 and reach 138.2 billion yuan by 2026, becoming a significant contributor to high-quality economic growth [3] - Lingxiong Technology has played a pivotal role in promoting the standardization and maturity of the DaaS industry, including the establishment of the DaaS Service Professional Committee and the implementation of national standards for office computer recycling [3] Support for Enterprises - Lingxiong Technology focuses on addressing the digital transformation needs of small and medium-sized enterprises (SMEs), helping them reduce initial investments by 97.4% and operational costs by 10% to 30% over three years through its DaaS model [4] - The company has successfully assisted thousands of enterprises, including Fortune 500 companies, in achieving cost efficiency and high-quality development, reinforcing its commitment to supporting SMEs [4]

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]

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] - Net profit under non-Hong Kong financial reporting standards increased by 22% 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 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 1.2 percentage points [1] - Support services revenue grew by 12.2%, while operations and maintenance services and project solutions saw significant increases of 36% and 18.3% respectively, contributing to nearly 60% of SSG's overall revenue [1] - DaaS (Device as a Service) emerged as a core growth and profit engine for the quarter, with TruScale IaaS achieving over 200% year-on-year growth [2] Group 3 - The demand for AI-driven solutions is strong, particularly in manufacturing and supply chain sectors, with over 92% of enterprises planning to increase AI service investments within three years [1][2] - 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]