LENOVO GROUP (00992) rises over 5%, AI PC soon to be launched, promoting the trend of replacing machines next year.

On November 17th, LENOVO GROUP (00992) rose by 5.04% to a peak of HKD 10.4 per share. The stock price of LENOVO GROUP has increased by 60% since the beginning of the year. LENOVO GROUP released its Q2 financial report yesterday, with a total revenue reaching CNY 104.4 billion, showing consecutive growth for two quarters. In an internal memo, Yang Yuanqing, Chairman and CEO of LENOVO GROUP, stated that Lenovo is entering a trajectory of recovery and will launch new generation artificial intelligence terminal devices such as AI PCs as scheduled. LENOVO GROUP expressed that with the explosion of generative AI, as the most important productivity tool, the entire PC industry is experiencing the most disruptive innovation in the past 40 years. Lenovo's AI PC prototype showcased at the 2023 Tech World event has gained widespread attention in the market. Lenovo Group's CFO, Huang Weiming, also mentioned that Lenovo's innovative products like AI PCs equipped with AI computing and private foundational models are expected to become a powerful driving force for the upgrade cycle of personal computers starting from 2024. AI PCs also signify Lenovo's strategic positioning in the field of artificial intelligence, providing end-to-end solutions that effectively utilize the power of artificial intelligence from pocket to cloud.