Foreign capital rushing to invest in AI core targets! Lenovo (00992) stock price rose to 11.83 Hong Kong dollars. Institutions: expected to continue to benefit from the increase in product demand brought by AI.

This week, benefiting from the AI market drive, the stock price of LENOVO GROUP (00992) continued to climb to 11.83 Hong Kong dollars, with a weekly increase of nearly 10%, and a total market value of 146.7 billion Hong Kong dollars. In terms of funds, smart money foreign investment BlackRock increased its stake in LENOVO GROUP from 4.97% to 5.07% on September 5, 2025. Data shows that this is the second time BlackRock has increased its stake in LENOVO GROUP in a month. According to the latest disclosure from the Hong Kong Stock Exchange, BlackRock increased its stake in LENOVO GROUP (00992) by 2.99 million shares of common stock at an average price of 10.9411 Hong Kong dollars per share on August 26, worth about 32.7139 million Hong Kong dollars. After the increase, BlackRock's latest shareholding is 622 million shares, with a good warehouse ratio of 5.01%. Huatai stated that with the strong demand brought by the global development of hybrid artificial intelligence, the company is expected to continue to benefit from the growth in product demand brought by AI in the second half of the year. It maintains a buy rating for LENOVO GROUP, corresponding to a 15x FY2026E PE, with a target price of 16 Hong Kong dollars. Hybrid AI solutions continue to be an important growth driver. According to IDC data, the company's global PC market share reached a record high of 24.6% in 2QCY25, and the market share advantage may continue to expand. The company stated at the conference that the market penetration rate of AI PCs has reached about 30% currently, with a strong user activity, and the user activity of purchasing AI applications has reached about 40%. With the continuous maturity of AI technology and the improvement of user acceptance, we expect the penetration rate of AI applications to further increase in the future, which is expected to continue to drive the structural upgrading of the company's PC products and improve profitability. Guotai Haitong also stated that from the perspective of market layout, Lenovo has captured the AI dividend period. Faced with the rapid growth in global demand for AI infrastructure, Lenovo has successfully captured the growth opportunity of AI infrastructure with its global positioning and dual-track strategy. In FY2026Q1, Lenovo's ISG business revenue increased by 36% year-on-year, and its AI infrastructure business achieved explosive growth, with revenue increasing by 155% year-on-year. In addition, Lenovo's leading position in the PC market has been further consolidated, with the shipment volume of AI PCs accounting for over 30%, making it a leader in the global market. Through precise market layout and continuous innovation investment, Lenovo is steadily moving towards the comprehensive realization of AI value.