On June 29, Lenovo Group declined 3.24% in regular trading, trading at HK$21.8/share, with turnover of HK$241 million.

The decline comes as the market continues to digest dilution concerns following the company's completion of a $2 billion zero-coupon convertible bond issuance due 2033. The bonds carry an initial conversion price of HK$36.70 per share, representing potential equity dilution of approximately 3.33% if fully converted. While management has indicated intentions to conduct on-market share buybacks to offset dilution, and AI server backlog orders have risen to approximately RMB 150 billion, the large-scale financing continues to weigh on capital structure sentiment.

Sector-wide weakness amplified selling pressure, with Legend Holdings declining 4.46% on the same session. Within the Technology Hardware, Storage & Peripherals sector, Xiaomi rose 0.75%, while Huaqin fell 1.26%, Sunmi Tech dropped 1.25%, and Longcheer declined 0.95%.

(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.)