LENOVO GROUP (00992) has been included in Forbes China's newly released 2025 "Top 30 Multinational Companies" list, earning recognition for its substantial overseas revenue scale, technology-driven growth model, and comprehensive global collaboration capabilities spanning branding, supply chain, and research & development. This list, focused on "robust global expansion," reveals that the 30 selected companies achieved an average overseas revenue growth of 63.2%, with a median overseas revenue contribution of 45.5%. LENOVO GROUP's fiscal 2024 performance (ending March 31, 2024) significantly outperformed most listed companies, with overseas revenue reaching 381.67 billion RMB, representing 77% of total revenue and demonstrating a remarkable 21.5% year-over-year growth rate, establishing it as a benchmark case for multinational operations in the technology sector.

In this ranking, Lenovo's overseas business performance demonstrates distinctive "high growth on a large base" characteristics. In absolute terms, the 381.67 billion RMB overseas revenue represents approximately 56 times that of some high-growth companies on the list (such as NeoPhotonics' 6.8 billion RMB overseas revenue in the computing power sector), and maintains a significant advantage even compared to automotive multinational giant BYD (which achieved a net increase of 61.66 billion RMB in overseas revenue). More importantly, the 77% overseas revenue proportion far exceeds the list's median of 45.5%, indicating that Lenovo has moved beyond the initial "domestic company going global" phase into the mature stage of "globalized enterprise operations."

This achievement is supported by Lenovo's global competitiveness in core business areas. According to Forbes China data, LENOVO GROUP's PC business maintained a 23.7% global market share in fiscal 2024, continuing its industry-leading position. Against the backdrop of AI technology reshaping the terminal market, Lenovo's AI PCs achieved the top sales position globally in the Windows AI PC category, with this breakthrough in the specialized market segment becoming a key driver for overseas consumer revenue growth.

Lenovo's multinational operations do not rely on a single product's "going global" approach. Under the "Hybrid AI" strategy, LENOVO GROUP has built a globalized business ecosystem covering terminal consumption and enterprise services, which has become Lenovo's differentiating advantage from other listed companies. As Forbes China emphasized in its ranking methodology, the list focuses on "companies that have comprehensively moved toward globalization in branding, supply chain, and R&D." Lenovo's "Hybrid AI" strategy precisely spans these three dimensions: In branding, the strong sales of AI PCs have reinforced Lenovo's global recognition as an "intelligent terminal leader." In R&D, global research centers are deeply involved in collaborative innovation between AI algorithms and hardware, ensuring that technology implementation speed aligns with global market demands. In supply chain, Lenovo operates over 30 manufacturing facilities worldwide, covering North America, Europe, Southeast Asia, and other regions. Recently, LENOVO GROUP's manufacturing facility in Monterrey, Mexico, became the first Chinese company in the Americas to receive "Lighthouse Factory" recognition.

Through deep cultivation of overseas markets, Lenovo can more effectively integrate global resources to benefit the domestic market. Currently, LENOVO GROUP has approximately 80% of its production and manufacturing, 70% of its R&D personnel, and 60% of its employees based domestically, while generating over 70% of its revenue from overseas markets, representing truly "rooted in China, globally mutually beneficial" operations. LENOVO GROUP has also leveraged its excellent global operations to appear 11 times on Gartner's authoritative Top 25 supply chain ranking, with its latest ranking at 8th globally, marking the fourth consecutive year in the top ten, maintaining its position as the Asia-Pacific supply chain champion, and remaining the only Asia-Pacific high-tech manufacturing company on the list.

Lenovo's selection also provides a new reference path for Chinese technology companies' globalization. In Forbes China's Top 30 Multinational Companies list, while companies like BYD and Great Wall Motors opened overseas markets through new energy product increments, and computing infrastructure companies like Inspur and NeoPhotonics achieved revenue surges through technological dividends, Lenovo's uniqueness lies in its transformation from "scale expansion" to "value cultivation" through a closed loop of "technology iteration - product innovation - ecosystem collaboration," which highly aligns with the list's core standard of "robust expansion."

Looking ahead, as global AI technology transitions from the "competition phase" to the "implementation phase," Lenovo's multinational operations still have considerable expansion potential. On one hand, AI PC market demand is expected to continue growing—according to IDC forecasts, global AI PC shipments will account for over 40% of total PC shipments in 2025, and Lenovo's first-mover advantage positions it to further expand its overseas market share. On the other hand, Hybrid AI applications in industrial, medical, educational, and other sectors will continue to diversify, allowing Lenovo to leverage its globalized R&D and supply chain network to replicate technology implementation experience from the Chinese market to overseas markets, forming a new growth logic of "global technology collaboration with regional market customization."