Changes in Hong Kong stocks | Lenovo Group (00992) rose more than 6% to a new high and will release Q1 results next week ISG is still the biggest source of growth elasticity

The Zhitong Finance App learned that Lenovo Group (00992) rose by more than 6%. As of press release, it had risen 5.55% to HK$27.38, with a turnover of HK$1.66 billion.

According to the news, Lenovo Group will disclose its results for the first fiscal quarter on August 13 (next Thursday). Damo released a research report saying that due to rising revenue and profit margins from infrastructure solutions, adjusted net profit will reach about US$788 million, an increase of 102% year-on-year and 41% quarterly, which is about 12% higher than market expectations.

Notably, ISG was still Lenovo's biggest source of growth elasticity in the first fiscal quarter. Bloomberg's unanimous forecast indicates that ISG's revenue may reach US$6.126 billion, an increase of 42.78% year over year. CITIC Lyon and UBS both expect ISG revenue to increase 45% year over year, with revenue of about US$6.2 billion and US$6.221 billion respectively; J.P. Morgan Chase's forecast is the most positive, with ISG revenue expected to reach US$6.869 billion, an increase of 60% year over year.