Lenovo 0992

[winston]

not vested

<Research>G Sachs: LENOVO GROUP (00992.HK) 1FQ Results in Line; Positive View Remained

LENOVO GROUP (00992.HK) 's net profit for 1FQ ended June rose 38% YoY to US$243 million, beating market consensus by 5%, missing Goldman Sachs' forecast by 12%, Goldman Sachs released a research report saying.

Revenue increased by 20% YoY, 8%/ 9% ahead of the expectations of Goldman Sachs and the market.

Gross profit margin fell to 16.6%, reflecting higher component costs and sales of AI servers, both of which were in line with the broker's estimations.

Goldman Sachs maintained a positive view on LENOVO GROUP, and forecasted stronger performance in the second half of the current fiscal year (i.e., 4Q24 and 1Q25), based on the recovery of PCs and general servers on new chips and Windows 11, and the launch of next-generation AI PC, including computers using chips from QUALCOMM Incorporated (QCOM.US) and Intel Corporation (INTC.US) , supporting 2025 sales growth.

Goldman Sachs rated LENOVO GROUP at Buy on Conviction List Buy, with a target price of $13.98.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/analy ... stock-news

[winston]

not vested

<Research>CLSA Trims LENOVO GROUP (00992.HK) TP to $12.2; 1FQ25 Results Slightly Beat

LENOVO GROUP (00992.HK) 's 1FQ25 results have slightly beaten CLSA and consensus expectations, with satisfactory revenue growth in the PC business and margins largely unchanged, the broker wrote in a report.

Server revenue was 29% higher than predicted, thanks to strong demand for cloud service providers (CSPs).

More AI PC models are expected to be launched in 2H24 as LENOVO's penetration of the AI PC market continues to grow.

Although LENOVO is investing in its AI server business and waiting for demand for AI servers to rise, the company still expected a modest recovery in server margins over the next few quarters, CLSA said.

Related News - G Sachs: LENOVO GROUP (00992.HK) 1FQ Results in Line; Positive View Remained

CLSA maintained its Outperform rating on LENOVO and trimmed its target price to $12.2 from $13.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

not vested

Lenovo Group (992 HK) 1QFY25: IDG And ISG Register Solid Beat In Revenue And Margins

Lenovo’s 1QFY25 results were better than expected, driven by solid revenue growth and good cost control.

Going forward, AI PCs’ ramp-up could be behind our expectation but its adoption should accelerate meaningfully in 2025 thanks to new product launches.

With Lenovo being the largest commercial PC provider, and having an unparalleled edge in China’s market, it remains our top pick in the AI-device sector.

Maintain BUY, and trim target price to HK$12.90.

Source: UOBKH

https://research.uobkayhian.com/content ... e=hs_email

[winston]

<Research>CCBI Trims LENOVO GROUP (00992.HK) to $12.5; 1FQ Results Beat

CCBI noted in a research report that LENOVO GROUP (00992.HK) has beaten expectations with its 1FQ results.

Revenue hiked 20% YoY to US$15.4 billion, beating the broker's estimate by 11%, while gross margin dipped 0.9 ppts YoY to 16.6%.

The broker slightly lowered LENOVO's target price from $12.8 to $12.5 and maintained its Outperform rating.

Related News: CLSA Trims LENOVO GROUP (00992.HK) TP to $12.2; 1FQ25 Results Slightly Beat

According to CCBI, LENOVO's personal computers (PCs), smartphones and tablets, delivered a strong performance, while the company's AI PC products have continued to lead the market, accounting for 15% to 17% of the company's total PC shipments, compared with about 10% for the industry as a whole.

The broker raised its revenue forecasts on LENOVO for FY25/FY26/FY27 by 4%, 3% and 3% respectively, in light of better prospects for the company's Intelligent Device Group (IDG) and Infrastructure Solutions Group (ISG).

However, the broker trimmed its profit forecast for FY25 by 6%, as the turnaround time for ISG may be delayed.

Related News: JPM Cuts LENOVO GROUP (00992.HK) TP to $12, Earning Forecast Largely Intact

Source; AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

not vested

Lenovo's third-quarter revenue jumps 20% as PC industry recovers

20% rise in third-quarter revenue of US$18.8 billion.

Net profit came in at US$693 million, against analysts' estimate of US$367.7 million.

Lenovo maintained its position as the largest PC vendor for the reported quarter, capturing a 24.5% market share with shipments growing by 4.8%.

Growing its AI server and software businesses.

Source: Reuters

https://theedgemalaysia.com/node/745177

[winston]

3QFY25: Solid Performance In All Businesses, AI PC Penetration Accelerating

Lenovo’s 3QFY25 core net profit was slightly below our estimate but beat consensus forecast, with growth primarily driven by strong hardware sales and improvements in ISG margins.

Going forward, the AI PC replacement story remains solid with risks leaning towards the upside as we see accelerated AI PC penetration in the December quarter, while we expect a sustained margin improvement in the ISG business.

Maintain BUY. Target price: HK$14.30.

Source: UOBKH

https://research.uobkayhian.com/content ... e=hs_email

[winston]

not vested

US Import Tariffs To Negatively Impact Earnings In Next Two Quarters

We spoke with Lenovo last week regarding the impact of the US import tariffs.

Given the PC market’s heavy reliance on China production capacity, all players will be impacted by newly-placed tariffs.

Specifically, for Lenovo, the import tariffs can impact bottom line by 16-19% in the next two quarters, although most of the negative effects will gradually dissipate in the September quarter as the Vietnam capacity ramps up.

Maintain BUY but cut target price to HK$13.00.

Source: UOBKH

https://research.uobkayhian.com/content ... e=hs_email

[winston]

not vested

LENOVO GROUP Once Sags 4%+ after Midday; 4FQ NP Dives 64%

LENOVO GROUP (00992.HK) announced at noon today (22nd) its full-year results for the period ending March 31.

For the final fiscal quarter, the group’s total sales reached approximately US$16.984 billion, up 22.8% YoY.

Profit attributable to equity holders of the Company sagged 63.7% YoY to approximately US$90 million, primarily due to non-cash fair value loss on warrants; excluding non-cash charges, non-HKFRS profit attributable to equity holders increased by 24.7% to US$278 million.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

not vested

Lenovo caught off guard by tariffs even as AI PCs deliver strong annual revenue

The PC maker’s CEO said Trump’s tariffs dented performance last quarter but its US$69.1 billion in 2024/25 revenue is among its best

by Ann Cao

Revenue for the year ended March 31 climbed 21 per cent to US$69.1 billion, with net income rising 37 per cent to US$1.4 billion

Source: SCMP

https://www.scmp.com/tech/big-tech/arti ... pe=section