Huawei and Industry Partners Reach Consensus on Mobile AI Foundation Networks, Driving 5G-A Experience Monetization
With 5G-A continuing to be upgraded with GigaBand and other innovative technologies, alongside collaborative ecosystem innovation across industries, mobile AI is developing into a new engine propelling the revenue growth of the mobile industry and bringing people a new digital life featuring ubiquitous intelligent services.
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Al Bawaba
3 days ago
- Al Bawaba
Lenovo Group: First Quarter Financial Results 2025/26
Lenovo Group Limited (HKSE: 992) (ADR: LNVGY), together with its subsidiaries ('the Group'), today announced strong first quarter results for the fiscal year 2025/26, reporting significant growth in overall group revenue and profit. Revenue grew 22% year-on-year to US$18.8 billion, with net income up 108% year-on-year to US$505 million. On a non-Hong Kong Financial Reporting Standards (non-HKFRS[1]) basis, net income grew by 22% year-on-year to US$389 million, adjusted for non-cash fair value gain on warrants[2].All main business groups saw solid double-digit year-on-year revenue growth, with the PC business reporting particularly strong numbers following the highest year-on-year revenue growth rate in 15 consecutive quarters and an all-time high market share of 24.6%. The Group's diversified growth engines continue to grow, with non-PC revenue mix up nearly half a point year-on-year to 47%. All sales geographies delivered high to relatively high year-on-year revenue growth. The strong results reinforce Lenovo's ability and commitment to preserve competitiveness, maintain market share, and sustain profitability against the challenging external main strategic factors drove the results. First, the Group's firm execution of its hybrid AI vision sees it capitalizing on unprecedented AI opportunities. Second, a commitment to continuous investment in innovation, which saw R&D spending increase over 10% year-on-year, supporting the Group's progress towards long-term goals of building personal and enterprise AI twins. And third, its operational excellence, including a unique ODM+ manufacturing model, a balanced global sales footprint, and a 'Global/Local' model that combines global sourcing and resources with local combination of these factors gives the Group maximum flexibility and resilience to navigate through market cycles and geopolitical uncertainties. Looking ahead, Lenovo remains committed to delivering more breakthrough innovations for customers, generating higher returns for its shareholders, and creating lasting value for its stakeholders and communities around the and CEO quote – Yuanqing Yang: 'By leveraging the resilience and flexibility of our supply chain and operational excellence, we overcame challenges brought by tariff volatility and the geopolitical landscape and achieved significant growth in both top and bottom lines. These record Q1 results underscore our ability to deliver on our promise to preserve competitiveness and continuously grow our business. Looking ahead, we will continue to firmly execute our hybrid AI strategy towards the vision of Smarter AI for all, relentlessly drive innovation in personal AI and enterprise AI products and solutions and consistently strengthen our operational competitiveness so that we can realize sustainable growth and profitability improvement.'Lenovo management encourages investors, analysts, and the public to focus on its non-HKFRS measures, which exclude the impact of non-cash items related to warrants and convertible bonds as part of Lenovo's strategic collaboration with Alat. Non-HKFRS offers a clearer view of the Group's core operational performance, as the non-cash items related to warrants and notional interest on convertible bonds are expected to persist through the end of fiscal year 2027/ Devices Group (IDG): Strong growth across the board, leading in personal AIQ1 FY25/26 performance:• Overall IDG revenue grew nearly 18% year-on-year to US$13.5 billion, with the PCs and smart devices business delivering 19% year-on-year revenue growth, the fastest pace in 15 quarters. All geographies achieved double-digit year-on-year revenue growth in PCs and smart devices.• The PCs and smart devices business maintained its industry-leading profitability with an operating profit of more than 8% thanks to a strong performance from high-margin segments.• PC market leadership was further reinforced with a record 24.6% market share, together with an increased lead over the number two player.• AI PC penetration accelerated, accounting for more than 30% of all Lenovo PC shipments. Lenovo ranks #1 globally in the Windows AI PC segment with a 31% market share.• Smartphone revenue grew over 14% year-on-year to US$2.2 billion, with sales volume outgrowing the market for eight consecutive quarters. In markets outside of China, smartphone market share reached a record high, with the success of the Razr phone seeing Motorola take the #1 position in foldables (flip and fold) with over 50% market share.• Looking ahead, IDG will continue to build agent-native devices of various forms, while enriching the application ecosystem for AI super agent to boost agent user engagement. This will drive toward 'One AI, Multiple Devices', positioning agent-native devices as the entry point for Personal Solutions Group (ISG): Sustained high growth, building long-term competitivenessQ1 FY25/26 performance:• ISG delivered strong revenue growth of up 36% year-on-year to US$4.3 billion through a strong execution of its CSP (Cloud Service Provider) and E/SMB (Enterprise and SMB) dual strategy.• Increasing investments in AI infrastructure and R&D, as well as enhancing E/SMB competitiveness, even as profitability was impacted in the short-term.• The AI infrastructure business revenue more than doubled year-on-year with a robust pipeline and a clear product roadmap ahead. Revenue from industry-leading liquid cooling solutions grew 30% year-on-year.• Looking ahead, ISG is committed to investing in driving long-term growth and value through strategic market expansion, E/SMB business model transformation, AI infrastructure innovation and product development, to stay ahead of the AI curve and provide differentiated global competitiveness. The Group is confident that ISG will not only sustain mid-to-long-term growth, but also deliver stronger profitability and Services Group (SSG): High growth and high profitability, unleashing Lenovo hybrid AI AdvantageQ1 FY25/26 performance:• SSG delivered another record quarter of revenue, up 20% year-on-year to US$2.3 billion – marking 17 consecutive quarters of year-on-year revenue growth.• Operating margin was up 1.2 points year-on-year to over 22% - making SSG the key profit engine for the Group overall, thanks to its sustainable margin expansion.• Support Services achieved double-digit year-on-year revenue growth by leveraging strong market demand for hardware and focusing on attaching premium services, e.g., Premium Care and Premier Support Plus.• Managed services, and 'as-a-Service' offerings, along with Projects and Solutions grew even faster with TruScale Infrastructure-as-a-service delivering triple-digit growth year-on-year in signings, and TruScale Device-as-a-service seeing double-digit growth for the quarter. Their combined mix increasing three points year-on-year to 58% of SSG's total revenue.• AI-driven solutions have gained momentum, especially in manufacturing and supply chain sectors.• Looking ahead, Lenovo will further build the Lenovo Hybrid AI Advantage framework as its key differentiator and will focus on Digital Workplace Solutions, Hybrid Cloud, and Sustainability solutions, while at the same time building simple and scalable AI-led vertical solutions to solve customers' most significant and ESG highlightsLenovo published its FY2024/25 Environmental, Social and Governance Report in June 2025, key highlights included:• Detailed progress towards the Group's 2030 emissions reduction targets, including reaffirming its long-term ambition to achieve net-zero greenhouse gas emissions by 2050.• Environmental progress through participation in the circular economy, including the continuous use of closed-loop recycled materials in its products as well as sustainability services for customers.• The Group's sustainability performance was recognized by 3rd parties such as EcoVadis (Platinum Medal), MSCI ESG Ratings (AAA), and CDP (A list in climate, water security and supplier engagement). The Group's governance and reporting was additionally recognized with a Gold Award from the Hong Kong Institute of Certified Public Accountants (HKICPA) for Best Corporate Governance and was recently ranked #8 in Gartner's Top 25 Global Supply Chain, with an ESG Score of 9/10. The ranking recognizes excellence in supply chain operations among global leaders across various industries, including pharmaceutical, automotive, FMCG, and technology. The prestigious Gartner ranking highlights companies that consistently demonstrate leadership in supply chain strategy and July 2025 Lenovo climbed 52 spots on the Fortune Global 500 list. This achievement marks Lenovo's 16th year on the Global 500, highlighting it as one of the world's 500 largest companies by revenue, with its highest ranking in the Technology sector to date – placing 13th among the global technology industry.[1] Non-HKFRS measure was adjusted by excluding net fair value changes on financial assets at fair value through profit or loss, amortization of intangible assets resulting from mergers and acquisitions, gain on deemed disposal of a subsidiary, impairment and write-off of intangible assets, property, plant and equipment and construction-in-progress, fair value change on derivative financial liabilities relating to warrants, and notional interest of convertible bonds; and the corresponding income tax effects, if any. [2] Effects of warrant obligations will fluctuate positively or negatively in the coming quarters (through the end of FY27/28), primarily based on share price movements in the quarter. Lenovo encourages the market to focus on its underlying operational performance as reflected by non-HKFRS reporting.
Al Bawaba
4 days ago
- Al Bawaba
OPPO solidifies global patent leadership, ranked among the world's top ten Chinese patent filers in Europe and, USA
OPPO, a leading global smart device company, has confirmed its top ten world ranking among patent filers for Chinese companies, announcing that it has filed more than 115,000 patent applications worldwide, with 63,000 granted and of July 2025, the global consumer tech powerhouse has filed patents in more than 40 countries and regions, including 787 in the Middle East. In 2024, OPPO demonstrated significant intellectual property strength, ranking 7th globally for granted Chinese utility patents, 2nd among Chinese companies for European patents, and 6th among Chinese companies for US to the World Intellectual Property Organization (WIPO), OPPO ranks among the Top 14 global organizations filing patents under the PCT (Patent Cooperation Treaty) - an international agreement that allows businesses to file patent applications seeking intellectual property protection in multiple countries. Leading 5G network technology deploymentOPPO's commitment to advancing technology is underscored by its extensive 5G Standard Essential Patents (SEPs), which are deployed in over 40 countries and have been declared to the European Telecommunications Standards Institute (ETSI). A proactive contributor to 3GPP, OPPO this year ranks 8th globally for comprehensive 5G patent strength, according to LexisNexis company maintains a leading global position in video standard patents and is significantly expanding its global AI patent portfolio, with a focus on key areas such as image processing, computer vision, voice technology, natural language processing, and machine flash charge technologyOPPO is also supercharging the adoption of its flash charge technology, which has been licensed to over 60 companies across various industries, including consumer electronics, shared power banks, and in-car charging. This expansion is driven by OPPO's 'Flash Initiative,' launched in 2021, which aims to integrate its innovative charging IP beyond smartphones into diverse applications for enhanced user OPPO's flash charge patented technology is now integrated into more than 10 million vehicles worldwide. Through strategic patent licensing collaborations with automotive manufacturers, chip makers, and module suppliers, OPPO is actively building a robust fast-charging ecosystem for the automotive sector, demonstrating its commitment to broad industry Ren, President of OPPO MENA'Our consistent top-tier ranking in patent filings, coupled with the widespread adoption of our innovations underscores OPPO's unwavering commitment to pushing technological boundaries, globally and in the Middle East,' said Lay Ren, President of OPPO MENA. 'We believe that by actively contributing to global standards and fostering broad industry collaboration, we can truly empower users with cutting-edge experiences and shape a more connected and intelligent future.'
Al Bawaba
4 days ago
- Al Bawaba
Russia's Economic Resilience: The Role of China, BRICS, and Strategic Partnerships in Sanctions Evasion
Dr. Gil Feiler Introduction Despite facing unprecedented Western sanctions following its invasion of Ukraine in February 2022, Russia's economy has demonstrated remarkable resilience. This resilience stems not merely from domestic adaptations but significantly from strategic partnerships with China, BRICS nations, and other sympathetic countries that have provided crucial economic lifelines. While Russia's economy has indeed faced challenges, including inflation, currency volatility, and restricted access to Western technology and markets, it has managed to maintain functionality through diversified trade relationships and sanctions circumvention mechanisms. The transformation of Russia's economic partnerships represents a fundamental shift in global trade patterns, with implications extending far beyond bilateral relationships. This article examines the multifaceted assistance Russia receives from China and BRICS countries, analyzes the factors contributing to Russian economic resilience, and provides forecasts for the sustainability of these trends. China: Russia's Primary Economic Lifeline Trade Volume and Growth Patterns Trade between China and Russia reached a record high last year in 2024, underscoring their deepening economic partnership despite Western sanctions. China's exports to Russia totaled US$115.28 billion during 2024, while China's imports from Russia reached US$129.88 billion, representing China's position as Russia's largest trading partner. However, recent August 2025 data reveals significant volatility in this relationship. Trade between Russia and China fell 9.1% year-on-year in the first half of 2025, totaling $106.48 billion. Despite this decline, overall trade remains substantial, though below 2024 levels, as China continues to sustain Russia's economy and war effort. This decline reflects multiple pressures including renewed concerns following the US Treasury's December 2023 announcement of potential secondary sanctions on entities assisting Russia's military-industrial base. The trade relationship shows unprecedented levels reflecting deepening economic ties amid shifting global geopolitics, growing from over $140 billion in 2021 to about $190 billion in 2022. Energy Cooperation and Strategic Imports China's assistance to Russia extends far beyond conventional trade relationships. The energy sector represents a cornerstone of their cooperation, with China becoming increasingly dependent on Russian oil, gas, and liquefied natural gas (LNG). Ambassador Zhang Hanhui stated that China plans to increase its imports of Russian liquefied natural gas (LNG) this year. He added that there is an increased demand from Chinese buyers. This commitment provides Russia with guaranteed revenue streams and helps offset losses from European market restrictions. The planned Power of Siberia-2 gas pipeline, designed to transport fifty billion cubic meters of natural gas annually from Siberia to China, represents a long-term strategic commitment that ensures Russia's energy export capabilities remain viable despite Western sanctions. Technology Transfer and Sanctions Circumvention Despite falling oil and car shipments dragging down headline trade figures, China remains central to sustaining Russia's economy and war effort in 2025. Russia's ability to sustain its war effort against Ukraine depends largely on Chinese support, especially in evading sanctions and accessing critical technology. Dual-use shipments from China to Russia exceeded USD 4 billion in 2024, showing the sophistication of this relationship. Exports fell sharply after February 2022 amid sanctions concerns, yet quickly recovered throughout 2022 and 2023. A renewed decline occurred following US Treasury's December 2023 secondary sanctions announcement, but Chinese exports rebounded in the second half of 2024, suggesting successful adjustments to circumvent restrictions. Chinese companies continue serving as crucial intermediaries, facilitating transactions and providing alternative supply chains for Russian businesses. However, this relationship involves calculated risks, as China remains cautious about transactions that might expose Chinese businesses to secondary sanctions. BRICS and Expanded Partnerships Evolution and Expansion of BRICS The BRICS bloc has experienced dramatic expansion, evolving from its original five members (Brazil, Russia, India, China, and South Africa) to become a 20-country organization comprising 10 full members and 10 partner countries as of 2025. This expansion now includes Ethiopia, Iran, Egypt, Saudi Arabia, UAE, and most recently Vietnam as a partner country in July 2025, with Nigeria joining the partnership in January 2025. This expanded BRICS+ now represents extraordinary global influence: 44% of world GDP at purchasing power parity, 56% of the world's population, and 25% of the world's landmass. BRICS accounts for 40% of existing internet users and has over 1200 satellites in orbit. Intra-BRICS trade reached US$614.8 billion as of 2022, providing Russia with multiple partnership opportunities and alternative economic frameworks outside Western-dominated systems. India's Strategic Balancing Act India represents a particularly interesting case within BRICS regarding Russian relations. Russia remains India's most prominent defence supplier, accounting for 36 percent of total arms imports in 2023. Despite pressure from Western allies, India has maintained its defense cooperation with Russia while significantly increasing oil imports at discounted rates. India's position reflects broader BRICS sentiment toward sanctions, where Most BRICS members have sought a middle ground, while other members have largely ignored Western sanctions. This middle-ground approach provides Russia with continued access to Indian markets while allowing India to maintain strategic autonomy. Brazil and South Africa's Measured Approach Brazil and South Africa have adopted more cautious positions, balancing their BRICS commitments with Western relationships. However, both countries have refrained from implementing unilateral sanctions against Russia and continue trade relationships within legal frameworks. Their positions demonstrate that even measured support from BRICS members provides Russia with economic breathing room. Iran and Sanctions-Evading Expertise Iran's inclusion in BRICS brings particular value to Russia, given Iran's decades of experience operating under international sanctions. The two countries have developed sophisticated mechanisms for sanctions evasion, including barter trade systems, alternative payment mechanisms, and joint technology development programs. Iran's expertise in maintaining economic functionality under sanctions provides a valuable blueprint for Russian adaptation strategies. Beyond BRICS: Additional Support Networks Middle Eastern Partnerships Several Middle Eastern countries have emerged as crucial partners for Russia. The United Arab Emirates has become a significant transshipment hub for Russian goods, while Saudi Arabia has coordinated with Russia through OPEC+ to maintain oil price stability. These partnerships provide Russia with alternative market access and financial mechanisms outside Western oversight. Central Asian and Former Soviet Republics Kazakhstan, Uzbekistan, Kyrgyzstan, and other former Soviet republics have maintained economic ties with Russia despite international pressure. These countries serve as intermediaries for trade flows and provide land-based transportation routes that bypass maritime restrictions. Their continued cooperation reflects both geographical necessity and historical economic integration. Turkey's Strategic Position Turkey has played a particularly important role as a NATO member that has maintained economic ties with Russia. Turkish businesses have served as intermediaries for various transactions, and Turkey's unique position allows it to facilitate trade flows while maintaining relationships with both Russia and Western allies. Factors Behind Russia's Economic Resilience Domestic Adaptations and Import Substitution Russia's economic resilience stems from multiple factors beyond external assistance. The country has accelerated import substitution programs, developing domestic capabilities in previously import-dependent sectors. Government-led initiatives have prioritized food security, pharmaceutical production, and basic manufacturing, reducing dependence on Western suppliers. Currency and Financial System Adaptations Russia has successfully adapted its financial systems to operate with reduced access to Western banking networks. The development of alternative payment systems, increased use of national currencies in bilateral trade, and expansion of gold and cryptocurrency reserves have provided financial flexibility. The Russian ruble, while experiencing volatility, has demonstrated surprising stability compared to initial post-sanctions predictions. Resource Wealth and Geographical Advantages Russia's vast natural resources provide inherent economic advantages that sanctions cannot easily eliminate. The country's position as a major supplier of energy, metals, and agricultural products ensures continued demand from countries unwilling or unable to source alternatives. Geographical proximity to Asian markets has become increasingly valuable as trade patterns shift eastward. Authoritarian Economic Management Russia's centralized political system has enabled rapid economic policy adjustments and resource reallocation. The government's ability to direct economic activity, control information flows, and mandate corporate behavior has facilitated adaptation to sanctions pressures more quickly than might be possible in more decentralized economies. Challenges and Vulnerabilities Technology Gap and Innovation Constraints Despite partnership assistance, Russia faces growing technology gaps in advanced semiconductors, sophisticated manufacturing equipment, and cutting-edge software. These limitations increasingly constrain productivity growth and technological competitiveness, creating long-term vulnerabilities that partnership arrangements cannot fully address. Demographic and Labor Market Pressures Military mobilization and emigration have created labor shortages in key sectors, while demographic decline poses long-term economic challenges. These internal pressures may limit Russia's ability to fully capitalize on alternative partnership opportunities. Financial System Limitations and War Costs While Russia has developed alternative payment mechanisms, the exclusion from major international financial networks creates ongoing costs and inefficiencies. Direct financial expenditure for waging the war was estimated at US$250 billion through June 2024, rising to over 20% of annual GDP. Additionally, Russia employed an off-budget financing mechanism with over US$200 billion from preferential bank loans made to defense contractors, compelled by the Russian government. The development of parallel financial systems requires significant resources and may limit transaction volumes compared to established networks. Russia's GDP is projected to remain relatively stable at $1.6 trillion by the end of 2025, but defense and security spending now accounts for a substantial portion of government expenditure, constraining other economic priorities. Future Forecast and Sustainability Analysis Short-term Outlook (2025-2027) The current pattern of China-BRICS assistance to Russia is likely to continue in the short term, though with some modifications. China's recent trade volume decline may represent a 'new normal' of more cautious but sustained engagement. BRICS expansion will provide Russia with additional partnership opportunities, though these may develop gradually as new members establish operational frameworks. The sustainability of current assistance levels depends heavily on three factors: the evolution of secondary sanctions enforcement by Western countries, China's assessment of costs versus benefits in supporting Russia, and the broader geopolitical climate including potential changes in the Ukraine conflict. Medium-term Trajectory (2027-2030) Medium-term sustainability faces greater uncertainties. Russia's partnerships provide current stability but may prove insufficient for long-term growth and technological advancement. The country risks falling further behind in technological innovation, potentially making it a less valuable partner for countries like China that prioritize technological leadership. However, if current partnerships deepen and institutionalize through formal agreements, alternative payment systems, and joint development projects, Russia could establish a more permanent alternative economic framework. The success of BRICS initiatives for alternative financial systems and de-dollarization efforts will significantly influence this trajectory. Long-term Implications (2030 and Beyond) Long-term sustainability depends on fundamental questions about global economic architecture. If BRICS countries successfully create alternative international institutions and payment systems, Russia could maintain economic functionality indefinitely outside Western-dominated frameworks. However, if technological gaps widen and partnership countries prioritize relationships with Western economies, Russia's position could become increasingly precarious. The demographic challenges facing Russia pose particular long-term concerns that external partnerships cannot easily address. Economic partnerships can provide trade opportunities and financial assistance, but they cannot resolve fundamental domestic constraints on growth and development. Conclusion Russia's economic resilience despite unprecedented Western sanctions demonstrates the effectiveness of strategic partnerships with China, BRICS nations, and other sympathetic countries. These relationships have provided crucial assistance through increased trade volumes, sanctions circumvention mechanisms, alternative financial frameworks, and technology transfers. China's role as Russia's primary economic partner has been particularly vital, though recent trade volume fluctuations suggest this relationship may be entering a more cautious phase. The expansion of BRICS and the development of alternative economic institutions provide Russia with growing opportunities to maintain economic functionality outside Western-dominated systems. Countries like India, Iran, and various Middle Eastern partners have contributed to Russia's sanctions resilience through continued trade relationships and specialized expertise in operating under international restrictions. However, this resilience faces significant challenges. Technology gaps, demographic pressures, and financial system limitations create vulnerabilities that external partnerships cannot fully address. The sustainability of current assistance patterns depends on evolving geopolitical circumstances, secondary sanctions enforcement, and the long-term strategic calculations of partner countries. The forecast suggests continued but potentially modified support in the short term, with medium and long-term sustainability depending on the success of alternative international institutions and Russia's ability to address domestic economic constraints. While Russia has demonstrated remarkable adaptability, the ultimate test of its economic resilience will be whether current partnership arrangements can support not just survival, but sustainable growth and technological advancement in an increasingly complex global environment. The Russian case illustrates both the possibilities and limitations of alternative economic partnerships in challenging established international systems. As this economic experiment continues, its outcomes will have profound implications for global trade patterns, international institutions, and the future architecture of the world economy.
