According to the Zhitong Finance App, Lenovo Holdings (03396) announced the results for the year ended December 31, 2023. The group obtained revenue of RMB 436.012 billion (same unit), of which revenue from industrial operation was RMB 431,589 billion and revenue from industrial incubation and investment of RMB 4.431 billion.

The Lenovo Group has maintained a solid market leadership position in the IT field. The PC business continued to be the world champion. In an environment where global PC market shipments declined year-on-year during the same period, Lenovo Group further consolidated its position as the number one PC in the world with significantly superior performance and maintained leading profitability; the share of the non-PC business in overall turnover further increased to 42%, achieving further results in building a diversified growth engine. The infrastructure solutions business was affected by the industry and market, but in the storage equipment and AI infrastructure market, Lenovo Group firmly maintained its third position in the world. In terms of high-performance computing, Lenovo Group continued to rank first in the global TOP500 and Green100; the solution service business signed the largest infrastructure-as-a-service order to date during the reporting period, and continued to maintain a high double-digit revenue and profit growth trend, with an operating margin of 20%, far higher than other business sectors.

In 2023, in the face of a complex and changing external environment, Lianhong Xinke will adhere to innovation-driven development, focus on the annual business plan, strive to give full play to its core competitive advantages, actively adapt to the market, and respond positively to challenges. On the one hand, Lianhong Xinke continues to optimize the product structure, increase the proportion of high-margin products, strengthen technical research, and improve operation and management efficiency. On the other hand, it closely follows the national development strategy, adheres to innovation drive, accelerates independent R&D and innovation in the fields of new energy materials, biomaterials and electronic materials, continuously promotes the development and innovation of new products and technologies, actively promotes the construction of new projects, promotes the early commissioning of new production capacity, and invests in the layout of new businesses. During the reporting period, Lianhong Group achieved revenue of 6.889 billion yuan, and net profit attributable to Lenovo Holdings equity holders of 228 million yuan.

In 2023, in the face of the double test of external macroeconomic challenges and internal transformation, the International Bank of Luxembourg achieved the best performance in the past ten years, achieving revenue of 6.127 billion yuan, an increase of 34% over the previous year; net profit attributable to Lenovo Holdings equity holders was 1,316 billion yuan, an increase of 43% over the previous year. While stabilizing revenue growth, the International Bank of Luxembourg continues to carefully manage costs and risks. The core Tier 1 capital adequacy ratio has reached 13.37%, and the international rating continues to maintain a high level; successfully launched a next-generation bank core business system to accelerate the intelligent transformation process; continued to expand ESG investment products and services and achieved good results, and was successfully selected as an excellent “Belt and Road” green finance case.

The fruit business of Jiawo Group continues to improve the layout of the entire industry chain, using its channel advantages to actively expand strategic products and increase market share; while further consolidating export business in overseas markets such as the US, Europe, and the Asia-Pacific region, the high-end animal protein sector has taken the domestic market as a key expansion direction and continues to enrich the product matrix.

During the reporting period, the industrial incubation and investment sector achieved revenue of 4.431 billion yuan, an increase of 8% over the previous year. Lenovo Holdings actively closely follows national industrial plans and policy guidelines, focusing on key areas such as artificial intelligence, integrated circuits, new energy, and new materials, supporting China's emerging pillar industries to seize the high ground of competition, accelerate the growth of specialized and new enterprises, and lead the upgrading of China's industry.

Lenovo Holdings has always been strategically led by “technological innovation”. Among the industries it has laid out, artificial intelligence is the direction it is paying close attention to. Since investing in iFLYTEK and AI in 2000, Lenovo Holdings has strived to seize the new AI circuit. After a long period of hard work, the company and its member companies have formed a unique AI full-stack layout combining underlying technology and commercial applications, product services and investment layouts, and balancing short- and long-term value.