Lenovo Shares Jump 12% After Q1 Profit Rises 176%; AI Revenue Hits Record

Lenovo Group shares jumped more than 12% in afternoon trading after the company released its fiscal first-quarter results at midday. Adjusted profit attributable to equity holders rose 176% year over year. AI-related business revenue climbed 60% to RMB 63.4 billion, a record high, according to ChainCatcher. The midday earnings report was followed by a rapid, straight-line rally in the stock, with gains exceeding 12% in the afternoon session. The first-quarter adjusted profit figure reflected a 176% increase compared with the same period a year earlier. AI-related business revenue reached 63.4 billion yuan, setting a new record. The company published these figures during the midday break, and shares responded immediately. The adjusted earnings growth and the record AI revenue were the two headline numbers in the flash update. ChainCatcher carried the news as a 7x24 fast alert. Lenovo's AI-related business has now reached a new quarterly high. The stock's afternoon move came directly after the earnings announcement. The AI revenue number, at 63.4 billion yuan, was the largest on record for the company's AI operations. The profit increase of 176% was also reported in the earnings release.