On June 8, Lenovo Group (00992.HK) declined 4.34% in regular trading, trading at HK$24.28/share, with trading volume of HK$1.122 billion. The stock continues a pullback that began in early June after reaching a 25-year high of HK$27.42.

The correction follows an extraordinary rally that saw Lenovo surge approximately 187% year-to-date and double in May alone, driven by AI transformation results and strong earnings. The company reported full-year revenue of RMB 589.9 billion, up 20.3% year-over-year, with adjusted net profit rising 42.1% to RMB 14.5 billion. AI-related revenue surged 105%, reaching 33% of total revenue.

Despite the pullback, major brokerages remain bullish. Goldman Sachs raised its target price to HK$31 with a Buy rating, while Huatai Securities set a HK$32 target, citing Lenovo as a key beneficiary of the AI PC trend and its positioning across both US and China AI ecosystems. Options market data shows active trading around HK$21 puts and HK$28 calls, indicating multi-directional positioning near current levels.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)