On August 25, LENOVO GROUP rose 3.17% in regular trading, trading at HK$30.52/share, with turnover of HK$1.797 billion.
On the news front, Goldman Sachs published a report noting that the Hang Seng Index quarterly review will generate over US$7.2 billion in total two-way passive fund flows, with LENOVO GROUP among the top six stocks expected to receive the largest net passive inflows, estimated between US$160 million and US$470 million. The changes will take effect after the market close on September 4.
Additionally, LENOVO GROUP recently signed a strategic cooperation agreement with Haier Group to collaborate on computing infrastructure, AI-powered smart home integration, and supply chain synergies. The stock continues to benefit from strong first fiscal quarter results released on August 13, which showed revenue of US$26.9 billion (up 43% YoY) and adjusted net profit exceeding US$1 billion for the first time. Multiple investment banks including Goldman Sachs, JPMorgan, and Citi raised target prices to a range of HK$46-66 following the earnings beat.
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