Summary by Moomoo AI
Lenovo Group Limited ("the Company") announced its unaudited interim results for the six months ended September 30, 2024. During this period, the group's revenue reached $33.3 billion, representing a year-on-year growth of 22%; the profit attributable to equity holders of the company reached $0.602 billion, a year-on-year increase of 41%. All three business groups recorded double-digit growth, with the infrastructure solutions business group revenue increasing by 65%, the smart device business group revenue rising by 15%, and the solution services business group achieving record high revenue while maintaining an operating profit margin of 21%. In addition, the group’s free cash flow in the first half of the year was nearly three times that of the same period last year, and net cash balance increased to $0.595 billion. Lenovo Group formed a strategic partnership with the Saudi Arabian Public Investment Fund subsidiary Alat, preparing to leverage growth in the Middle East and Africa markets. The group announced it will distribute an interim dividend of 8.5 Hong Kong cents per share, to be paid around December 12, 2024.
