According to Zhitong Finance APP, Lenovo Group (00992) fell nearly 8%, temporarily leading the decline among blue-chip stocks. As of press time, the stock was down 7.56% at HK$25.94, with a turnover of HK$1.954 billion.
On the news front, recent data from IDC and Omdia shows that global PC shipments in the third quarter of 2026 declined by more than 20% year-on-year, marking a second consecutive quarter of contraction with an widening decline. Among them, although Lenovo maintained its global number one position with shipments of 14.9 million units, it recorded a year-on-year decline of 22.6%.
In addition, despite the rebound in US tech stocks overnight, Asian markets continued to weaken today. The recent sell-off in CoreWeave bonds has become a signal for Wall Street to re-examine the financing risks of AI infrastructure.
CLSA issued a research report stating that Lenovo Group's server business is accelerating, and it raised its adjusted net profit forecast for the second quarter of fiscal year 2027 ending September this year from the previous US$1.1 billion to US$1.18 billion, which is 13% higher than market expectations, mainly benefiting from better-than-expected server business revenue and profit margins. The firm estimates that the company will incur a non-cash loss of approximately US$1.9 billion from the revaluation of warrants, so the reported net profit for the second quarter is expected to show a loss of US$630 million.
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