Lenovo Holdings 2025 Annual Report: Rooted in the Real Economy, Anchoring a New Coordinate for High-Quality Development

On March 31, Lenovo Holdings (03396.HK) released its 2025 fiscal year earnings report. For the full year, it generated revenue of RMB 6059.45 billion, up 18% year over year; net profit was RMB 97.99 billion, up 28% year over year. This performance not only demonstrates the company’s operational resilience in navigating through the cycle, but also more clearly outlines Lenovo Holdings’ long-term development path—staying true to its original mission of serving national industrial progress through enterprise, and anchoring itself on the main lane of the real economy.

Deepening the Real Economy: Over RMB 20 billion in new investment in five years, with planned output value exceeding RMB 1 trillion

In his remarks on the performance, Lenovo Holdings’ Chairman, Ning Min, said: “During the 14th Five-Year Plan period, Lenovo Holdings focuses on technological innovation and roots itself in the real economy, with advanced manufacturing as the backbone. It has made new investments of over RMB 20 billion and plans to achieve output value of over RMB 1 trillion.”

In the intelligent manufacturing sector, Lenovo Group has built in Shenzhen its global intelligent manufacturing “mother plant”—the Shenzhen Southern Base. By building four large factories in China, Lenovo Group ensures stable and secure supply chains and industrial chains related to the IT sector, and also drives the development of the local economy.

In the new materials and new energy sector, Lien Horn New Tech has built in Shandong an integrated project for Lien Horn Grun New Energy Materials and biodegradable materials, with annual production of 200,000 tons/year of EVA and 300,000 tons/year of PO. It has built a 100,000 tons/year POE project in Jiangsu, and has also successively built projects in multiple locations including PLA biodegradable materials, ultra-high-molecular-weight polyethylene, lithium battery additives VC, high-purity electronic specialty gases, and more.

Asset optimization: Achieving leapfrogging development through endogenous growth

Keeping high-quality development as its main line, Lenovo Holdings adjusts its business development model. By strengthening independent innovation, continuously iterating its products, deepening operations and management, strengthening risk control, and stimulating endogenous momentum, it drives high-quality development. With the industry in which its core business operates all encountering historic-level adjustments, Lenovo Holdings presses on,

Data shows that Lenovo Holdings’ revenue scale increased from an average of RMB 355.3 billion per year during the “13th Five-Year Plan” period to an average of RMB 505.7 billion per year during the “14th Five-Year Plan” period, an increase of more than 40%. At the same time, Lenovo Holdings steadily advances optimization of its asset portfolio. Through methods such as dividends, reductions in holdings, and exits, it totaled more than RMB 45 billion in returned funds during the “14th Five-Year Plan” period. These resources strongly support large-scale investment in technological innovation and the real economy.

Standing at the new starting point of the “15th Five-Year Plan,” Lenovo Holdings focuses on the real economy and continues to invest in national strategic areas such as artificial intelligence and new materials. This is expected to open up new growth space for it.

(Review: Ou Yunhai)

(Responsible editor: Dong Pingping)

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