Lenovo Group (00992) rose over 5%, reaching 5.24% at the time of writing to HK$36.12, with turnover of HK$775 million.

On the news front, CLSA noted in a recent research report that it reiterates Lenovo Group Ltd (00992) as its top China tech stock pick, maintaining an "Outperform" rating with a target price of HK$48.7.

Akamai Technologies recently announced a seven-year cooperation agreement with AI company Anthropic and disclosed a supply agreement with Lenovo. Under the deal, Lenovo will provide hardware, software, and related services to Akamai. The master agreement spans three years, with the first statement of work covering seven years 鈥?matching the duration of Akamai's collaboration with Anthropic. This reflects that Lenovo Group Ltd (00992)'s ISG business is securing long-term cooperation opportunities with various new AI clients.

Wong Wai Ming, Senior Vice President and Chief Financial Officer of Lenovo Group Ltd (00992), previously stated bluntly that Lenovo's valuation is roughly one-seventh that of Dell, yet its revenue and net profit are not seven times lower. He emphasized that the company is completely undervalued by the market in this regard. He stressed that Lenovo's long-term net profit margin could reach 5%-8%, benchmarking Dell's profitability level.

Lenovo Group Ltd (00992) previously released its first fiscal quarter results, showing that adjusted profit attributable to equity holders for the quarter surged 176% year-on-year to US$1.075 billion, with an adjusted net profit margin of 4%. Its AI business is growing rapidly with ample orders. Its AI server backlog orders jumped significantly from RMB 140 billion in the previous fiscal quarter to RMB 360 billion.