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聯想ISG第三財季強勢扭虧爲盈:雲業務創紀錄增長94%
格隆匯 02-20 13:01

2025年2月20日,聯想集團公佈截至2024年12月31日的第三財季業績報告,其基礎設施方案業務集團(ISG)以突破性表現引發行業關注:成功實現單季盈利,營收同比暴漲近60%至283億元人民幣,連續第三個季度創下營收新高。這一里程碑式突破,標誌着聯想歷時數年構建的"雙引擎驅動+技術協同"戰略正式進入收穫期。

本季度ISG業務的爆發性增長,源於聯想在雲計算基礎設施領域的長期戰略投入迎來集中兌現。財報顯示,雲基礎設施業務營收同比迅猛增長94%,收入更較五年前增長逾四倍,再創歷史新高,企業基礎設施業務同比穩步增長7%。這兩大核心引擎的協同發力,不僅推動ISG整體營收規模站上新高點,更通過獨特的"ODM+規模化效應"實現盈利結構優化。

早在2018年全球雲基礎設施市場爆發前夜,聯想便預判到傳統企業IT採購與超大規模雲平臺建設將形成長期並存格局,果斷確立"CSP攻堅+E/SMB精耕"的雙軌戰略:一方面以ODM+模式(原始設計製造+聯合創新)深度綁定全球TOP10雲服務商,另一方面通過"本地化交付+訂閱式服務"鞏固企業客戶基本盤。

聯想集團表示,將通過深化執行戰略,進一步簡化產品組合,加強市場銷售能力,優化E/SMB業務模式,以實現可持續盈利性增長。同時,戰略性收購高端存儲廠商Infinidat有望補強聯想的高端企業存儲解決方案,加強其全面產品組合,充分發揮協同效應,並打開更大增長空間。

當下,全球AI產業正經歷從技術突破到效能躍遷的範式遷移。以DeepSeek爲代表的新一代模型架構創新,推動人工智能向高能效比方向加速進化。在此進程中,產業呈現雙重動能共振:一方面,全球科技企業持續強化算力基礎設施佈局,另一方面,AI開發工具鏈的平民化顯著降低技術應用門檻,驅動智能技術向製造、醫療、金融等千行百業規模化滲透,形成"基建投入-場景落地-需求反哺"的螺旋上升閉環。據IDC最新預測,2025年全球IT基礎設施市場規模將實現16%的同比增幅,其中服務器與存儲市場分別增長17%和6%,雲基礎設施板塊以超20%增速領跑,企業級基礎設施市場同步顯現復甦信號。

技術演進路徑上,混合式人工智能正在重構算力資源配置邏輯。產業需求推動算力架構向"四層分佈式"形態進化——公有雲平臺、本地數據中心、私有雲集羣及邊緣計算節點形成動態協同網絡,催生混合式IT架構的全面升級。在此背景下,算力市場呈現明顯的結構性分化:通用算力服務器與AI專用算力服務器形成"雙軌並行"發展格局,IDC預計兩者2025年增長率將分別達11%和18%。這種分化映射出產業數字化轉型的深層需求——既要保障傳統業務系統的穩定運行,又需構建面向大模型訓練、實時推理等場景的高性能算力底座。

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