Lenovo hit highest since May 2022 on recovery outlook, net buying by mainland investors

 

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Shares of Lenovo Group continued to rise in Hong Kong, surging over 5% to hit HK$ 7.7 at one point, marking a new high since May 2022.

According to data from IDC, Lenovo’s PC shipments in the fourth quarter of 2022 reached 15.5 million units, with a market share of 23.1%, maintaining its industry-leading position.

Lenovo’s management said that progress has been made in destocking at the channel end and PC shipments in the second half of 2023 are expected to recover to pre-epidemic levels.

As of March 1st, mainland investors net bought shares of Lenovo Group via the Mainland – Hong Kong Stock Connect schemes for three consecutive days, with the ratio of shareholding rising to 2.47%.