On April 6th, Lenovo Group’s 2023/24 fiscal year kick-off meeting was held in Beijing. Yang Yuanqing, Chairman and CEO of Lenovo, stated that over the past three years, the company’s revenue has increased from ¥ 350 billion to ¥ 460 billion, a milestone increase of more than ¥ 100 billion (about $14.5 billion), while net profit has tripled compared to three years ago.
Yang Yuanqing said: “When Lenovo held its first ‘Cloud Conference’ in 2020, we judged that this would be a ‘turning point from danger to opportunity’. Soon after, Lenovo did indeed experience explosive growth in intelligent devices, intelligent infrastructure, IT solutions and services.
“Lenovo was the first to realize that the ‘new normal’ of working, studying and entertainment at home will inevitably drive demand for personal computers and other smart terminals.”
He stated: “For enterprises, hybrid office models and e-commerce will become increasingly indispensable. Therefore, investment in IT infrastructure and digital transformation must inevitably accelerate. The facts have proven that our judgment is accurate and timely, our actions are decisive and efficient, and the results are inspiring.”
Three years ago, Lenovo was a company with an annual revenue of ¥ 350 billion. Last year, Lenovo crossed the milestone of ¥ 460 billion (about $ 67 billion ), despite the changing capital market. In the past three years, Lenovo’s value growth rate has been 120 percentage points higher than that of the overall market.