Lenovo Holdings (03396.HK) 1H revenue 362.935 bln yuan, up 28.9% YoY from 281.589 bln yuan.

Baozun (BZUN.O) Q2 total net revenue rose 7% YoY to 2.7 bln yuan; non‑GAAP operating profit was 74 mln yuan. E‑commerce revenue rose 5% to 2.3 bln yuan with non‑GAAP operating profit of 107 mln yuan — the strongest Q2 e‑commerce profit since 2022 — while brand‑management revenue rose 22% to 486 mln yuan and operating losses narrowed. Management raised its 2028 non‑GAAP operating profit target to 700 mln yuan from 550 mln yuan. After the results, CITIGROUP kept a Buy, raised its PT to $5.30 from $4.50 and lifted 2026–28 non‑GAAP net‑profit forecasts by 36%, 40% and 30%; CITIC Lyon upgraded to outperform, raised its PT to $3.80 from $3.20 and increased adjusted net‑profit forecasts for this year and next by ~20%; CMBI kept Buy, raised its PT to $4.23 from $3.98 and raised operating‑profit forecasts for the next three years. Brokers cite stronger e‑commerce margins, narrower brand‑management losses and AI/automation efficiency gains as key profit drivers; whether AI can scale from pilots to sustainable, quantifiable profit uplift is the main medium‑term value trigger.

HKEX filings show Xinghuan Information Technology (Shanghai) Co., Ltd. has passed its listing hearing.