On November 4, 2021, Lenovo Group (00992) announced the results of the second fiscal quarter of the 2021/22 fiscal year, with revenue of RMB115.6 billion, an increase of 23% year-on-year, and net profit of RMB3.3 billion, an increase of 65% year-on-year. Revenue and profit exceeded Bloomberg's consensus expectations by 3% and 13%, respectively.
![Bloomberg broke the news: China's manufacturing industry is in recession, and the prospects for economic recovery are worrying[fig]](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACwAAAAAAQABAAACAkQBADs=)