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LENOVO GROUP Rallies 17%+, Eyes Annual Revenue of USD100B Within 2 Yrs
Recommend 8 Positive 19 Negative 12 |
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LENOVO GROUP (00992.HK) reported a 4.8x surge in net profit for its fourth fiscal quarter, while revenue reached a record high of USD21.588 billion, up 27.1% YoY. CEO Yang Yuanqing said the company aims to achieve annual revenue of USD100 billion within the next two years. The news uplifted the company's share price this morning (22nd). After opening 4.87% higher, gains widened. The stock last quoted at HKD15.46, up 17.57%, with turnover of 290 million shares, involving HKD4.256 billion. Yang outlined a three-pronged strategy to juice revenue growth, including strengthening Lenovo's leadership in devices, capturing multi-year opportunities in AI infrastructure, and scaling up its services business. The company also plans to explore more AI device formats, including wearable devices. AASTOCKS Financial News |
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