“The IT industry's most difficult period has passed.” On the afternoon of May 24, after the Lenovo Group announced the results for the full year of FY23/24 and the fourth fiscal quarter, Yang Yuanqing, Chairman and CEO of Lenovo Group, said this. According to financial reports, Lenovo Group's annual revenue was 407.4 billion yuan, down 8% year on year, and net profit was 7.3 billion yuan, down 37% year on year. However, judging from the fourth fiscal quarter results, Lenovo's main business fully resumed growth, with revenue of 99.4 billion yuan, up nearly 10% year on year; net profit of 1.78 billion yuan, up 118% year on year. Behind the above figures, they are linked to the complex challenges that Lenovo has faced in the past year, including global macroeconomic and geopolitical headwinds, and also reflect the market trend of the global PC consumer market from weakness to recovery. “The market has bottomed out and rebounded.” Today, Yang Yuanqing told media including First Finance that Lenovo has gone through the industry's downward cycle, and as the penetration rate of AI PCs continues to rise, Lenovo's profit is expected to improve further.