On June 4, Lenovo Group (00992.HK) declined 5.66% in regular trading, trading at HK$25.3/share, with trading volume of HK$810 million. The decline marks a second consecutive session of sharp losses following an extraordinary rally that saw the stock surge 187% year-to-date and 109% in May alone, reaching a 25-year high of HK$26.58 on June 2.
The broader Hong Kong market opened weak, with the Hang Seng Index down 0.66% and the Hang Seng Tech Index falling 1.23%, as technology stocks came under broad selling pressure. Lenovo had already experienced a near-8% intraday drop on June 3 before recovering to near-flat levels, supported by Goldman Sachs raising its 12-month target price to HK$31 and maintaining a Buy rating. The bank cited Lenovo as a primary beneficiary of rising AI PC penetration rates.
The company reported full-year revenue of RMB 589.9 billion for FY2025/26, up 20.3% year-over-year, with adjusted net profit of RMB 14.5 billion, up 42.1%. Despite strong fundamentals and institutional backing, the steep prior gains appear to be prompting near-term profit-taking across the stock.
(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.)
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