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Chinas trade balance in May was 723.98 billion yuan, compared with 585.69 billion yuan in the previous month.June 9th - Starting in June, electronic savings bonds have been officially included in the scope of personal pension products. This means that citizens who have joined the personal pension system can directly purchase electronic savings bonds through their accounts. According to the issuance schedule, the latest issue of savings bonds will be available for purchase on June 10th. Currently, many banks have added bond purchase portals to their mobile apps personal pension sections. Alternatively, citizens can also visit a bank branch with their bank card and ID to apply for personal pension savings bonds.The China Earthquake Networks Center officially reported that a magnitude 3.6 earthquake struck Wensu County, Aksu Prefecture, Xinjiang, at 10:17 AM on June 9th, with a focal depth of 12 kilometers.On June 9th, the General Office of the Hainan Provincial Peoples Government issued the "Hainan Provinces 15th Five-Year Plan for High-Tech Industry Development," which mentions that, with serving the "Aerospace Power" strategy as its core, the province will fully promote the construction of Hainans commercial space launch site, forming a complete industrial cluster covering commercial launch, rocket and satellite manufacturing, and satellite applications, creating a rocket chain, satellite chain, data chain, and "aerospace+" industrial system. By 2030, the revenue of the commercial aerospace industry is expected to reach 50 billion yuan.The Hang Seng Index turned positive, with stocks related to chips, PCBs, leading tech companies, and cloud computing performing strongly.

Unchanged revenue is the lowest in eight quarters for Lenovo

Charlie Brooks

Aug 10, 2022 10:44

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Lenovo Group (OTC:LNVGY), the world's largest personal computer manufacturer, reported flat sales for the April-June quarter when numerous Chinese cities were hit by COVID-19 lockdowns, marking its worst performance in eight quarters.


The $16.96 billion in total revenue was consistent with the $16.87 billion average estimate of seven analysts surveyed by Refinitiv. The net income attributable to shareholders rose by 11% to $516 million.


According to a report by the research firm Counterpoint, key laptop manufacturing partners like as Quanta, Compal, and Wistron saw significant manufacturing disruptions throughout the quarter owing to lockdowns in China. Several companies, notably Intel (NASDAQ:INTC) and Samsung (KS:005930), chipmakers and electronics manufacturers, issued dire warnings about a precipitous decline in demand. The most substantial year-over-year decline since the second quarter of 2013 happened in the most recent quarter, according to Counterpoint.


Lenovo claimed in a press release that "the PC market is experiencing temporary challenges." According to Counterpoint, Lenovo's total PC shipments dropped by 12.7% to 17.4 million units, mostly owing to lackluster consumer demand. With a 24.4% market share, however, Lenovo maintained its worldwide PC market leadership.


Lenovo's server and non-PC industries have expanded, however, due to the need of enterprises to improve their digital capabilities. The non-PC portion of the company's revenue increased by 37% during the quarter.

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