联想集团股价创历史新高，年内涨幅超44%

第一财经05-11 16:44

5月11日，联想集团（00992.HK）股价开盘上涨，盘中最高触及13.46港元，创下历史新高。截至发稿，该股报13.44港元，涨幅超7%。今年以来，联想集团股价累计涨幅超44%。　　在人工智能（AI）产业落地预期下，市场正在对联想业务逻辑重新定价。长期以来，外界通常把联想视作是一家PC硬件厂商。随着其 AI 全栈能力的显现，以方案服务业务（SSG）和基础设施方案业务（ISG）为代表的非PC业务已...

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服务器及液冷算力设施的需求大幅增长，联想AI服务器营收实现高双位数增长，上季度联想透露该业务有超100亿美元的订单储备。　　“我们的估值会从PC-only（仅依赖PC）的估值，转换成一个基于多产品、多业务的估值。”不久前联想集团高级副总裁兼首席财务官郑孝明对第一财经记者表示，联想当前的核心发展方向围绕AI全栈布局、ISG业务盈利性增长、把握存储价格周期红利展开，同时依托全球化供应链和终端优势，抢抓AI时代的市场机会。　　联想集团即将在下周披露2025/26财年的全年财报，这将成为检验当前市场叙事能否最终确立的关键窗口。中信里昂最新研报预计，联想集团第四财季经调整净利润将高于市场预期约20%，备受关注的服务器业务有望实现单季扭亏为盈，同期PC出货量同比增长8.7%。　　对于全财年业绩表现，联想集团董事长杨元庆曾在上月预计有望达到5600亿元人民币，其中AI相关营收年比年翻番，占公司总营收的 1/3。他还给联想立下新目标：两年后公司营收目标为超过1000亿美元，并且联想要成为一家AI原生公司。　　他同时还提到联想面临的挑战，包括毛利率尚未达到市场预期，移动业务（MBG）的规模和盈利能力有待提升，基础设施业务集团仍需把握市场机遇以实现可持续的盈利性增长。　　此外，业界预计PC行业中供应链的紧张局面将进一步加剧，内存和存储成本预计将比此前预期更快、更大幅度上涨，这将压缩PC厂商的毛利率，厂商之间的分化也将更加明显。（文章来源：第一财经）","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"dataReport","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":1,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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