联想集团_第二季度好于预期；个人电脑出货量和平均售价（ASP）均增长，人工智能服务器产能提升；买入评级-Lenovo (0992.HK)_ Jun-Q better than expected; PC on both shipment and ASP increase, with AI servers ramping up; Buy
2025-08-14 09:3614 August 2025 | 9:01AM HKT Lenovo (0992.HK): Jun-Q better than expected; PC on both shipment and ASP increase, with AI servers ramping up; Buy Lenovo June-Q revenues increased by 22% YoY, or 10% / 7% higher than our / Bloomberg consensus with solid growth across the board: IDG (Intelligent Devices Group, mainly PC) revenues increased by 18% YoY, or 10% ahead of our estimates; ISG (Infrastructure Solutions Group, mainly general servers and AI servers) revenues increased by 36% YoY, or 11% ahead of our estim ...