A：In the first quarter of the 2025-2026 fiscal year, Lenovo Group achieved a strong start, with a year-on-year increase in total revenue of 22% to 136.2 billion RMB, setting a new historical high. In terms of net profit, based on non-Hong Kong financial reporting standards, there was a 22% year-on-year growth, while based on Hong Kong financial reporting standards, there was a doubling to 3.66 billion RMB. This achievement is mainly attributed to the non-cash income from the fair value of warrants brought by stock price fluctuations. In addition, all core businesses achieved double-digit growth, with the personal computer business growing by over 20% and the non-personal computer business accounting for 47%, achieving high or relatively high revenue growth in all major regions globally.

A：Lenovo firmly implements a hybrid artificial intelligence strategy, advances the inclusive vision of artificial intelligence, and achieves innovative results in the personal intelligence and enterprise intelligence fields, with research and development investment achieving double-digit growth. Through the end-to-end operation of ODM manufacturers and the local delivery model of global resources, Lenovo has successfully overcome challenges brought by macroeconomic environments such as tariffs, maintaining its competitiveness, market share, and profitability goals. Especially in the IDG intelligent device business, revenue has grown by 18% year-on-year, with a 19% increase in revenue in the personal computer and related business areas, maintaining a leading position in profitability.

A：SG's infrastructure solutions business achieved strong growth of 36% year-on-year by effectively implementing a dual-track strategy of developing both cloud infrastructure and enterprise infrastructure. Despite short-term profit being impacted by research and development investments, the revenue from AI infrastructure business more than doubled year-on-year, with a strong backlog of orders. Additionally, the business in China maintained rapid revenue growth and significantly improved profitability.

A：In the last quarter, the revenue of SSG solution services increased by 20% compared to the previous year, reaching a historic high, with an operating profit margin exceeding 22%. Among them, support services achieved double-digit growth, and the growth rate of operation and maintenance services and project and solution business was particularly striking, accounting for nearly 60% of the overall revenue.

A：In the field of personal intelligence, relying on the global leadership position in the AIPC market and the release of the Tiansi Personal Super Intelligent Body, personalized experiences are created through intelligent native terminal devices and applications, leading to a steady increase in user engagement, with an average weekly active rate reaching 40%. In the field of enterprise intelligence, China took the lead in releasing the LeXing Enterprise Super Intelligent Body, establishing an artificial intelligence model factory, developing an intelligent body platform, and fully implementing Lenovo's hybrid artificial intelligence advantage.

A：In the first quarter of the 2025-2026 fiscal year, Lenovo Group's revenue from its three major business groups reached a new quarterly high, with a year-on-year growth of 22%, reaching $18.8 billion, surpassing the record set during the pandemic. According to the Hong Kong financial reporting standards, the net profit for the first quarter was $505 million, an increase of 108% compared to the same period last year, while the net profit calculated according to non-Hong Kong financial reporting standards increased by 22% to $389 million.

A：In the first quarter, the group achieved strong performance, with significant effects from diversified growth engines. Among them, non-personal computer business accounted for 47%, artificial intelligence business revenue continued to grow significantly, and all core business segments achieved double-digit year-on-year growth. The shipment volume of personal computer business reached a historical high of 24.6% of the global market share, and the smartphone business has maintained double-digit year-on-year growth for seven consecutive quarters. The AI infrastructure business, with industry-leading liquid cooling technology, saw annual revenue growth of more than double. ASG solution service revenue increased by 20% year-on-year, reaching a historical quarterly revenue high, and the operating profit margin further improved. The IDG Intelligent Devices Group achieved an 18% year-on-year revenue growth in the first quarter of the 2526 fiscal year, reaching $13.5 billion, with personal computers, tablets, and other smart device businesses achieving the fastest growth in the past 15 quarters. Despite the impact of tariff fluctuations, the personal computer business has increased market share in all core sales regions worldwide, while the smartphone business has achieved double-digit year-on-year revenue growth for seven consecutive quarters and has performed well in the high-end smartphone business, increasing revenue share to 3%.

A：The Solution Services Group (SSG) achieved record-high revenue of $2.3 billion in the first quarter, with operating profit increasing annually to $501 million, expanding by 1.2 percentage points to 22%. Strong growth in high-demand areas such as hybrid cloud, artificial intelligence, and digital workplace solutions drove the revenue growth of SSG, surpassing the IT services industry by more than two times. SSG's Solution Services Group is providing comprehensive AI-driven solutions and value-added services throughout the hardware cycle through the SSG hybrid AI framework, aiming to stand out in the competition. At the same time, SSG has acquired several important clients in industries such as financial services, technology, warehousing, construction, and logistics, deploying comprehensive AI solutions to enhance the industry's AI capabilities and provide end-to-end digital workplace solutions.

A：In the first quarter, the group achieved strong year-on-year growth in over 180 markets worldwide. In the Chinese market, revenue increased by 36% compared to the previous year, driven by strong growth in all business units, especially in artificial intelligence and personal computer shipments. Outside of China, revenue in the Asia-Pacific region increased by as much as 39% compared to the previous year, with increased market share for personal computers and smartphones in key markets such as Japan and India. In the Americas market, the personal computer business has seen continuous market share expansion for nine consecutive quarters. In the European, Middle Eastern, and African markets, SSG's device-as-a-service and software business orders reached a new high, driving growth in service revenue.

A：In the first quarter of this fiscal year, the Group's operating cash flow reached $1.2 billion, the highest level in the past 11 quarters. Free cash flow significantly increased to $751 million, mainly due to robust operating cash flow and optimization of financial expenses. Net financial costs decreased by 9% compared to the same period last year. Excluding the nominal interest on convertible bonds, net financial costs decreased by 23% according to non-Hong Kong financial reporting standards. Cash balance in the first quarter rose to $4.5 billion, an annual increase of 15%, demonstrating the Group's outstanding operational and financial cost control capabilities.

A：In the first quarter, the group's R&D investment increased by 10% year-on-year to $524 million, demonstrating the group's long-term commitment to supporting its hybrid artificial intelligence strategy through innovation. The R&D team has nearly 20,000 employees, accounting for 28% of the total company workforce. Continuous R&D investment has reinforced the company's technological leadership position and seized structural growth opportunities in the personal and enterprise artificial intelligence sectors. Innovative initiatives include concept devices using advanced solar technology to extend battery life, as well as the industry's first flexible display screen PC. In the infrastructure field, proprietary Poseidon liquid cooling technology achieves 100% heat dissipation, providing a key differentiating factor for artificial intelligence servers.

A：In the first quarter of the 2526 fiscal year, the Infrastructure Solutions Group recorded a year-on-year revenue growth of 36% to $4.3 billion USD. The cloud infrastructure business and enterprise infrastructure business were the main drivers, both achieving over 30% year-on-year growth. In particular, the China business showed rapid growth in the first quarter, successfully establishing market positioning with a full-stack AI-driven infrastructure product strategy. The ISG Infrastructure Solutions Group is expanding its customer base and achieving significant results in cloud computing, security, content delivery, high-performance computing, and AI server solutions. At the same time, the group continues to invest in AI infrastructure research and development and sales capabilities to seize the rapid growth opportunities brought about by the global surge in demand for AI servers.