FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 聯想控股股份有限公司 呈交日期: 2026年2月5日 | 1. 股份分類 | 普通股 | | 股份類別 | H | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 03396 | 說明 | | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | | 1,271,853,990 | | 0 | | 1,271,853,990 | | 增加 / 減少 (-) | | | | 0 | | 0 | | | | 本月底結存 | | | | 1,271,853,990 | | 0 | | 1,271,853,990 | 足夠公眾持股量的確認(註4) I. 法定/註冊股本變動 | 1. 股份分類 | 普通 ...

"面对新一轮科技革命和产业变革的浪潮，面对诸多需要攻坚的技术难题，只有让最前沿的学术智 慧与最真切的产业需求碰撞融合，才能催生突破性的成果。"联想控股董事长宁旻在"北大—联想控股先 进光子集成技术联合实验室"（以下简称"联合实验室"）成立仪式上这样说道。 新一轮科技革命浪潮涌动，在算力需求爆发式增长的背景下，光子集成技术已成为突破能耗瓶颈、 提升运算效能的关键赛道。正是基于相同的判断，北京大学和联想控股选择强强联手。 "联合实验室"的诞生，始于联想控股前瞻技术研究院与北京大学电子学院彭超的邂逅。 在漆黑的实验室，捕捉着光子沿着肉眼不可见的方向传递出的信息。彭超和他的团队取得了一项又 一项拓扑光子学与光子集成领域国际领先的原创成果。 "北大—联想控股先进光子集成技术联合实验室"挂牌成立 "我们对自己的定位是希望成为中国科技产业生态的参与者与赋能者。"宁旻介绍。围绕这个目标， 联想控股打造了包括三个层次的科技创新体系：一是围绕主业加大研发投入；二是围绕科技创新前沿展 开投资布局；三是围绕早期技术开展商业化研究。他表示，和北京大学共建"联合实验室"，就是在向早 期技术的深水区迈进，探索产学研深度融合的新范式。 "科 ...

Core Insights - The firewall industry in China is a critical component of the network security system, serving as the first line of defense for enterprises and individuals. The industry is characterized by a diverse range of listed companies, primarily concentrated in the upstream and midstream segments of the supply chain [1][5]. Group 1: Company Overview - Major companies in the firewall industry include Sangfor (300454.SZ), Tianrongxin (002212.SZ), Hillstone Networks (688030.SH), Deepin Technology (300768.SZ), Ruijie Networks (301165.SZ), Venustech (002439.SZ), Qihoo 360 (688561.SH), and NSFOCUS (300369.SZ) [1]. - The highest revenue in the firewall industry for 2024 is projected to be from Lenovo, with revenue reaching 114.77 billion yuan, followed closely by Inspur with the same revenue figure [4]. - The registered capital is highest for NSFOCUS, while Tianrongxin is the oldest company in the industry. Ruijie Networks has the most bidding information, totaling 7,141 entries [8]. Group 2: Revenue and Profitability - In terms of revenue from firewall-related business, Sangfor is expected to generate 3.629 billion yuan in 2024, ranking second in the domestic market for unified threat management. Qihoo 360 follows with an expected revenue of 2.653 billion yuan [9]. - The gross profit margin for representative companies in the firewall industry is projected to be around 60% in 2024, with Sangfor achieving the highest margin at 79.31% and Hillstone Networks at 71.97% [11]. Group 3: Business Layout - The firewall business layout of listed companies shows a combination of regional focus and nationwide outreach, with technological innovation and scenario deepening being key characteristics. Sangfor focuses on South China, covering over 30 countries and regions, while Qihoo 360 is centered in Beijing, targeting government and state-owned enterprises [13][15]. - Companies like Tianrongxin and Venustech are also focusing on specific sectors such as industrial internet and government services, respectively, to enhance their market presence [15]. Group 4: Business Planning - Future business plans for firewall companies emphasize technological iteration and scenario deepening. Sangfor aims to integrate network security with cloud computing and transition to a subscription model by 2026 [17]. - Qihoo 360 plans to allocate 25% of its R&D budget to encryption firewall research, while Tianrongxin is focusing on smart solutions for industrial firewalls [17].

Group 1 - Anta Sports (82020), Lenovo Group (80992), and Kuaishou (81024) have the highest short-selling ratios at 100.00%, 78.04%, and 71.83% respectively [1][2] - Alibaba (09988), Tencent Holdings (00700), and Xiaomi Group (01810) lead in short-selling amounts, with 2.968 billion, 1.700 billion, and 1.588 billion respectively [1][2] - China National Building Material (03323), Jiangsu Nanjing Highway (00177), and China Liansu (02128) have the highest deviation values at 33.68%, 31.58%, and 22.77% respectively [1][2] Group 2 - The top short-selling stocks by amount include Alibaba (09988) at 2.968 billion, Tencent Holdings (00700) at 1.700 billion, and Xiaomi Group (01810) at 1.588 billion [2] - The top short-selling ratios are led by Anta Sports (82020) at 100.00%, followed by Lenovo Group (80992) at 78.04%, and Kuaishou (81024) at 71.83% [2] - The highest deviation values are recorded for China National Building Material (03323) at 33.68%, Jiangsu Nanjing Highway (00177) at 31.58%, and China Liansu (02128) at 22.77% [2][3]

Core Insights - Beijing Zhiyu Huazhang Technology Co., Ltd. successfully listed on the Hong Kong Stock Exchange, becoming the "first stock of large models," marking a significant milestone in its development and showcasing Lenovo Holdings' role in empowering AI startups [1] - Lenovo Holdings has made substantial investments in AI, with over 270 AI companies supported, establishing itself as one of the most comprehensive investment institutions in the field [2][9] Investment and Growth - Lenovo Holdings has been a key investor in Zhiyu, participating in multiple funding rounds and providing strategic support, which has accelerated Zhiyu's commercialization process [3][4] - Zhiyu's revenue is projected to grow significantly, with a compound annual growth rate of 130% from 2022 to 2024, reaching 312.4 million yuan by 2024 [4] Ecosystem and Collaboration - Lenovo Holdings has facilitated collaborations between Zhiyu and its own product lines, creating integrated solutions that combine hardware and large models, enhancing application in various sectors such as manufacturing and education [3] - Other AI companies backed by Lenovo Holdings, such as Moer Thread and Muxi, have also successfully entered the capital market, indicating a broader trend of AI integration across industries [5][6] Technological Advancements - Moer Thread and Muxi have achieved significant breakthroughs in AI chip technology, establishing themselves as leaders in the high-end GPU market [6] - Companies like Xiaoma Zhixing and Xidi Zhijia have made strides in autonomous driving, showcasing successful commercial applications of AI technology [6][7] Strategic Vision - Lenovo Holdings emphasizes the importance of "patient capital" in driving AI commercialization, focusing on long-term value creation and strategic investments [8] - The company aims to enhance its AI ecosystem by fostering collaboration across the industry, integrating technology and innovation to accelerate market validation and product deployment [9][10]

Core Insights - Lenovo Holdings, in collaboration with various educational and research institutions, is conducting AI training programs in Tongren City, Guizhou Province, aimed at enhancing digital literacy and skills among local vocational school students, young teachers, and government officials [1][3]. Group 1: AI Training Initiatives - The training for young officials includes insights from experts on the future of AI and digital talent development, emphasizing the need for composite talents in the next five to ten years [3]. - The focus on education highlights how AI can empower teaching, address resource shortages, and facilitate personalized education that aligns with market demands [3]. Group 2: Local Talent Development - Experts from Lenovo and the Higher Education Press conducted hands-on demonstrations of AI capabilities, encouraging students to integrate AI tools into their professional studies [5]. - Training for teachers emphasizes the transition from knowledge transmitters to facilitators of learning and environment designers, focusing on capability development [5]. Group 3: Strategic Collaborations - Lenovo Holdings engaged with local government and business representatives to discuss AI industry development and provide references for planning industrial growth in the region [5]. - The company’s Assistant President introduced its AI industry layout and ecological investments, suggesting a demand-driven approach for early AI integration in local development [5]. Group 4: Ongoing Initiatives - The activities are part of Lenovo's "Rural AI Empowerment Plan," aimed at making AI technology accessible and applicable to local contexts, thereby driving rural revitalization [6]. - Lenovo plans to maintain communication with local stakeholders to support the high-quality economic and social development of the region [6].

Group 1 - Lenovo Holdings, in collaboration with various educational and research institutions, is conducting AI training sessions in Tongren City, Guizhou Province, aimed at enhancing digital literacy and skills among local vocational school students, young teachers, and government officials [1][2] - The training emphasizes the transformation of teachers' roles from knowledge transmitters to facilitators of learning and environment designers, focusing on capability development [1] - Lenovo Holdings' Assistant President introduced the company's AI industry layout and ecological investments, providing references for local industrial development planning [2] Group 2 - The initiative is part of Lenovo Holdings' "Rural AI Empowerment Plan," which aims to lower technical barriers and adapt AI technology to local contexts, promoting inclusive technology benefits for rural revitalization [3] - Future collaborations are planned between Lenovo Holdings and local authorities to support the high-quality development of the local economy and society [4]

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年12月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 聯想控股股份有限公司 呈交日期: 2026年1月5日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 03396 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 1,271,853,990 | RMB | | 1 RMB | | 1,271,853,990 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 1,271,853,990 | RMB | | 1 RMB | | 1,271,853,990 | | 2. 股份分類 | 普通股 | 股份類別 ...

Group 1 - The "Qihang·2025 Financial Summit" was successfully held in Beijing on December 26, focusing on the theme of "New Starting Point, New Momentum, New Journey," gathering hundreds of leaders and guests from regulatory bodies, industry associations, financial institutions, listed companies, and media [1] - The 14th "Jinzhi Award" results were announced, with Legend Holdings Co., Ltd. awarded for "Resilient Development of Listed Companies" [1][3] Group 2 - The "Jinzhi Award" aims to establish benchmarks for high-quality development, guiding listed companies to focus on their main business, continue innovation, and fulfill social responsibilities, thereby promoting capital to gather towards quality enterprises [3] - The evaluation process covered over 8,000 companies across A-shares, Hong Kong stocks, and Chinese concept stocks, with nearly 200 companies recognized for their achievements [3] Group 3 - In a complex and changing market environment, the "resilience" of listed companies has become a core measure of long-term value and sustainable development capabilities, focusing on strategic adaptability, core business risk resistance, industry chain collaboration, innovation-driven strength, and ESG implementation [4] - Legend Holdings' recognition for "Resilient Development" reflects its long-term commitment to a core strategy of "technology innovation leadership," with significant R&D investments leading to achievements such as being the global leader in PCs and supercomputers, and third in servers [4] - The company actively invests in the Chinese technology ecosystem, with over 100 domestic technology enterprises funded annually, and 215 of these becoming national-level specialized and innovative "little giant" enterprises [4] - By embedding technological innovation into its corporate DNA, Legend Holdings aims to create resilience that transcends economic cycles and continuously generates value [4]

Core Viewpoint - The Hang Seng Index Company announced the launch of the Hang Seng Hong Kong Stock Connect Electronic Industry Theme Index, which reflects the performance of Hong Kong-listed companies in the electronic industry [1] Group 1: Index Overview - The index includes companies involved in semiconductors, basic electronic components, telecommunications equipment, IT devices, and audio/video equipment [1] - A fixed sample of 40 stocks representing the largest market capitalization will be evaluated biannually for weight and adjusted quarterly [1] Group 2: Investment Purpose - The index aims to focus on the electronic sector within the Hong Kong Stock Connect market, capturing the stock price performance of companies in technology hardware and electronic manufacturing [1] - It serves as a tracking benchmark for index funds and ETFs, providing investors with tools for cross-market allocation of electronic assets [1] Group 3: Component Stocks - Notable constituent stocks of the index include TCL Electronics, Skyworth Group, Xiaomi-W, SMIC, Lenovo Group, Hua Hong Semiconductor, BYD Electronics, ZTE Corporation, Lenovo Holdings, and AAC Technologies [1]