Lenovo's SSG second-quarter revenue growth increased by 18% year-on-year, with AI-related solutions accounting for over 60% of revenue.

On the morning of November 20th, LENOVO GROUP (00992) released its financial results for the second quarter of the 2025/26 fiscal year: quarterly revenue increased by 15% year-on-year to 146.4 billion RMB, setting a new record high for the quarter, far exceeding market expectations. In this quarter, the SSG Solution and Services Business Group saw a revenue increase of 18% year-on-year, maintaining double-digit growth for the 18th consecutive quarter, with an operating profit margin exceeding 22%, continuing to be the business unit with the highest profit margin among the group's three major businesses, further contributing to overall profitability. Focusing on the hybrid AI strategy, SSG is actively developing AI-related services and solutions. In this quarter, AI service revenue achieved triple-digit growth, becoming an important incremental source driving business scale and value enhancement. From a business structure perspective, SSG's "high value-added curve" continues to rise. The proportion of project and solution services business and operations services business in SSG's overall revenue has increased to about 60%, up by one percentage point from the same period last year. Among them, project and solution services business achieved a year-on-year growth of about 13%, reflecting that industry scenario-based AI solutions are entering a replicable and scalable stage. Meanwhile, SSG continues to accelerate in operations services. TruScale's DaaS (Device-as-a-Service) achieved a revenue growth of 43% year-on-year, maintaining strong growth momentum, while IaaS (Infrastructure-as-a-Service) also maintained a strong revenue growth of 55%, and enhanced modular services to meet customer needs. Under the advantage of hybrid AI architecture, SSG leverages core capabilities such as "AI Model Factory, AI Application Library, and AI Services" to create replicable and scalable AI solutions in key vertical industries and general solution areas, accelerating enterprise-wide AI inclusion. At the same time, with high value-added and high-profit margins, SSG provides Lenovo with growth momentum beyond the hardware cycle, consolidating its strategic position as Lenovo's long-term profit and growth "anchor."