LENOVO GROUP (00992) introduces the industry's first AI-driven consultancy service, reducing customer delivery time.

On November 16, 2023, LENOVO GROUP announced its financial performance for the second quarter of the 2023/24 fiscal year, ending on September 30, 2023. The overall revenue reached 104.4 billion RMB, with a consecutive quarterly increase. The gross profit margin increased to 17.5% on a year-on-year basis, reaching a historical new high for the second quarter. Non-PC businesses accounted for over 40% of the total, with an increase of nearly 3 percentage points compared to the previous year. Among them, the SSG Solution and Services Group achieved another record high in performance, with a year-on-year revenue growth of 11% to 1.9 billion USD. The operating profit margin was 20%, several times higher than the company's average, demonstrating its business strength. Despite the adjustments in product portfolio and the effects of high base period, the profit margin decreased slightly year-on-year, but still achieved the target. Huang Weiming, Chief Financial Officer of LENOVO GROUP, stated that the maintenance services achieved a year-on-year growth of 31% due to strong demand for as-a-service solutions and accelerated expansion in regional markets (including the first TruScale project in Japan this quarter). High-end support and sustainable development solutions continue to improve our penetration rate, such as carbon offset and carbon reduction solutions. The Solution and Services Group also utilizes artificial intelligence to enrich its service product portfolio to meet the ever-changing customer needs. At the same time, the newly launched Care of One platform service is the first AI-driven consulting service in its industry, enabling customers to shorten delivery time and optimize to the maximum extent. Lenovo's AI professional services help customers securely and efficiently deploy the second generation of AI in hybrid environments. Lenovo's AI-driven service, the Sustainable Development Solution Advisor, helps customers align their IT environment with their sustainable development goals.