聯想集團(00992.HK)：2025/26財年首季權益持有人應佔溢利大增108%至5.05億美元
格隆匯8月14日丨聯想集團(00992.HK)公佈2025 / 26年財政年度第一季業績，截至2025年6月30日止的第一財季，聯想(本集團)展現穩健的財務表現。集團收入上升22%至188億美元，創有史以來最高第一季度收入，並超越了此前在疫情間所刷新的高點。按香港財務報告準則計算，權益持有人應佔溢利同比增長108%至5.05億美元。按非香港財務報告準則計算，權益持有人應佔溢利同比增長22%至3.89億美元，展現儘管面對美國關稅政策及其他地緣政治動盪的挑戰，集團核心業務的實力仍然強勁。非香港財務報告準則調整主要撇除認股權證非現金公允值收益1.52億美元及可換股債券的名義利息支出2,800萬美元。
集團三個業務集團，包括基礎設施方案業務集團、方案服務業務集團及智能設備業務集團均錄得強勁的雙位數同比收入增長。智能設備業務集團方面，集團的個人電腦、平板電腦及其他智能設備業務錄得過去15個季度以來最快的同比收入增長。個人電腦業務以24.6%的全球個人電腦市場份額創下新高，鞏固其全球領導地位。集團的人工智能個人電腦在中國及全球的市場滲透率持續提升。智能手機業務連續七個季度錄得雙位數同比收入增長。透過實行強韌的雲基礎設施業務及企業基礎設施業務的雙重戰略，以及迅速擴大人工智能產品組合，基礎設施方案業務集團錄得強勁的收入增長。人工智能伺服器業務收入同比增長超過一倍。得益於集團在先進服務及人工智能驅動解決方案的全棧式產品組合，方案服務業務集團的收入同比上升20%，並維持強勁的溢利貢獻。
於25/26財年首季，按非香港財務報告準則計量，集團的經營溢利率爲3.4%，淨利率爲2.1%。集團持續改善利潤率，歸功於優化的產品組合、加上大幅提升服務組合、並提高營運效率。即使面臨關稅的變化，但集團仍憑藉全球製造能力及獨特的ODM+(原設計製造)模式，提升了供應鏈的韌性和成本效益，成功提升競爭力及維持市場領導地位。
研發投資同比增長10%，帶動混合式人工智能策略的發展，並加強集團產品組合的人工智能能力。集團繼續精準執行其人工智能策略，把握人工智能領域前所未有的機遇，推動實現“智能，爲每一個可能”的願景。隨着混合式人工智能的投資增加，個人及企業人工智能領域均取得了實質性進展，讓聯想處於有利位置，實現個人及企業人工智能雙胞胎的長期願景。憑藉已提升的營運靈活性及均衡的全球佈局，集團已準備就緒，應對宏觀經濟的不確定性及滿足全球客戶的多元化需求。
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