Corporate News

Lenovo announced strong first quarter results for the Group, improving both revenue and profitability for the ninth consecutive quarter. First quarter net income grew 11% year-on-year to US$516 million and 35% year-on-year to $556 million on a non-HKFRS basis. Revenue grew to US$17 billion, up 5% year-on-year in constant currency.

For the purpose of forming a strategic partnership in relation to the ITS Business, Lenovo Group Limited (“Lenovo”) and PCCW Limited (“PCCW”) jointly announced that they have entered into a sale and purchase agreement.

Lenovo has once again been named in the Gartner Global Supply Chain Top 25 listing for 2022. This year marks the highest ever ranking for Lenovo, rising seven places from 2021 to rank #9.

Lenovo announced record fiscal year results for the Group, with historic highs for both profit and revenue.

Moody’s has upgraded the issuer rating and senior unsecured rating of Lenovo Group (HKSE: 992) (ADR: LNVGY) to Baa2 with a stable outlook, from Baa3 with a positive outlook to reflect improved credit profile in terms of leverage, driven by debt reduction and a higher level of EBITDA.

Lenovo announced record Q3 announced record quarterly results for the Group, with historic highs for both profit and revenue and the Group’s first US$20 billion quarter.

Lenovo will be included as a constituent stock on the Hang Seng Index – Hong Kong’s benchmark stock gauge, effective March 7^th 2022.

Fortune magazine published its annual list of the World’s Most Admired Companies, with Lenovo ranked at fifth, climbing from tenth position, for companies in the broad computing industry category.