Movement Alert｜Lenovo Group Falls 6.17% in Regular Trading, Profit-Taking Emerges After 109% Monthly Surge in May

Market Focus06-03

On June 3, Lenovo Group (00992.HK) fell 6.17% in regular trading, trading at HK$25.9 per share, with trading volume of HK$974 million. The decline comes as profit-taking pressure mounts following the stock's explosive 109% surge in May — its best monthly performance since 1999.

The pullback follows a period of extraordinary gains driven by the company's AI transformation narrative. Lenovo's latest earnings revealed AI-related revenue reaching 38% of total group revenue in Q4, while its ISG business achieved a profitability inflection point after years of heavy AI server investment. Goldman Sachs raised its target price to HK$27 and nearly doubled its target P/E ratio from 7.7x to 15.7x. Market participants had flagged the risk of a sharp reversal after the rapid ascent, with domestic institutional investors reportedly taking profits while short interest stood at 10.33% of total shares as of mid-May.

Despite the retreat, the stock remains well above its pre-rally levels, with its market capitalization still near the HK$300 billion mark. The company's forward P/E of approximately 13x continues to trade at a significant discount to peers such as Dell Technologies at around 30x.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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