Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizens Xiao Zhan cut, VVVVIP clue delivery! According to CTOnews.com news on May 24, Lenovo announced on the Hong Kong Stock Exchange this afternoon the full-year financial results of 2022 Company23. For the year ended March 31, 2023, the group's total sales were about $61.947 billion (CTOnews.com Note: currently about 437.346 billion yuan), down 14% from the same period last year. Compared with last year, the profit attributable to equity holders for the year decreased by US $422 million to about US $1.608 billion (currently about RMB 11.352 billion), while gross profit increased by 0.2% to 17% CTOnews.com with a complete performance statement:

Among them, the annual revenue of ISG Infrastructure Solutions Business Group increased 37% to 66.8 billion yuan, making Lenovo the third largest server manufacturer in the world.

Revenue at the smart device business group, which consists of PCs, tablets, smartphones and other smart devices, fell 21 per cent from a year earlier, but it was still significantly higher than it was before COVID-19 in fiscal year 2019. In retrospect, operating profit fell by 24% in the financial year.

Lenovo Group's operating expenses for the year were 13% lower than those of the previous year, and the cost of employee benefits was reduced by US $613 million (currently about RMB 4.328 billion), mainly due to a reduction in performance bonuses and sales commissions, partly offset by recognized severance and related expenses. In view of the industry challenges, Lenovo announced resource allocation measures and generated $209 million in severance and related costs to further improve efficiency and competitiveness. The group's advertising and publicity expenses have been reduced by US $285 million to achieve cost optimization.

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