Topic: A-share has entered the right rising stage, and foreign investors are optimistic about the allocation value of A-share
Our reporter Xiang Yantao
On May 23, Lenovo Group released the fourth fiscal quarter and annual results of the 2023/2024 fiscal year as of March 31, 2024: the fourth fiscal quarter achieved revenue of 99.4 billion yuan, up nearly 10% year on year; Net profit reached 1.78 billion yuan, up 118% year on year; Business other than PC accounted for nearly 45%, a record high.
Since this year, the global PC market has begun to recover. According to IDC statistics, after two years of decline, the global traditional personal computer market recovered in the first quarter of 2024, with the shipment volume reaching 59.8 million units, basically the same as the same period in 2019. In the fourth quarter, Lenovo Group's core PC business continued to expand its leading edge, with its global market share reaching 22.9%, a growth rate nearly 6 percentage points higher than the market. In addition, AI PC is also injecting new imagination into the market.
Recently, Microsoft released the next generation of AI PC products, which fully introduced Microsoft's AI assistant Copilot into the Windows system. According to Microsoft, Microsoft is currently working with Qualcomm, Intel, Lenovo and other manufacturers to create Copilot+PCs, of which Lenovo, Dell and other manufacturers will release new AI PC products, driving the rapid growth of the AI PC market.
In fact, as early as April 18 this year, Lenovo launched the first real AI PC Yuanqi series of new products in the Chinese market; Recently, two AI PCs were released in overseas markets, which are equipped with the fastest AI NPU processing speed (45 TOPS) so far. In addition to Lenovo, technology giants such as Hewlett Packard and Huawei have also released AI PC products one after another, and the personal computer market has become lively again after years of silence.
At the performance briefing held on May 23, Liu Jun, executive vice president of Lenovo Group and president of China, told the Securities Daily and other media reporters that Lenovo's new AI PC Yuanqi series products had caused great repercussions in the industry after their release on April 18. The company's research and development team also kept on doing multiple rounds of internal and external testing, and continued to iterate products and optimize user experience.
"The attention is very high, and the sales are also beyond expectations." Liu Jun said that Lenovo AI PC Yuan Kai Edition has built hundreds of third-party AI applications, and it is expected that there will be thousands of AI applications before the end of the year. In the future, the user experience, ecological richness, hardware platform and other aspects will continue to be upgraded and improved. In addition, Lenovo will gradually expand from AI PC to AI mobile phones, AI tablets and other colorful terminal devices, and create seamless collaboration between different devices.
At present, the definition of AI PC in the market is not uniform. In the opinion of Yang Yuanqing, Chairman and CEO of Lenovo Group, the definitions are different, so everyone wants to seize the market commanding heights. Lenovo has a strict definition of AI PC, which requires five characteristics at the same time - personalized agent, local heterogeneous computing power, personal knowledge base, open application ecology and privacy security protection capability.
"The next generation PC of most people is AI PC, which is the direction we are sure of." Yang Yuanqing said that Lenovo Group will fully embrace AI: the end revolution of AI will bring huge growth opportunities, AI PC is expected to gradually move from high-end to mainstream within three years, and the personal computer market will also usher in a new replacement cycle. At the same time, the trend of hybrid AI is driving the growth of demand for hybrid infrastructure. Customers also increasingly need customized AI solutions and services. The demand for AI consulting, design, deployment and maintenance services is growing rapidly.
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