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MJ Song, a South Korean working mother with a four-year-old son, considers herself lucky because she has been able to work for one company for more than 15 years without her career being hindered by starting a family.

Her employer, a unit of Shinhan Financial Group, offers generous pay and benefits such as baby bonuses, childcare allowances and flexible working, allowing her to balance work and family life in a country notorious for long working hours and rigid corporate cultures.

Song took two years of maternity leave after her son was born then worked for four hours a day for a year, receiving half her normal salary. Shinhan also allows women to work two hours fewer a day during pregnancy and employees with children in their first two years of primary school to start work an hour later.

“I am satisfied with my job as the salary is high with a lot of benefits for working moms,” says Song. “The workload is heavy, but my PC gets automatically turned off after 6pm. It has been relatively easy to balance work and family life, while most of my friends have quit their jobs after childbirth.”

Korean financial groups have been one of the most coveted workplaces among female graduates, thanks to their competitive pay and childcare-related perks, despite technology causing wider cuts to the industry’s workforce.

Financial groups are also notable for their relatively high number of female workers in the male-dominated, manufacturing-driven economy. Female workers account for more than half of the financial sector workforce, about double the average in South Korea’s 500 biggest companies by sales, according to research group Leaders Index.

Labour expert Bae Kyu-shik says: “Financial companies have become good employers for women, thanks to their high pay and strong internal welfare benefits.”

Women boast an average 14.5 years of service at Korean banks versus men’s 15.4 years, while women’s annual salaries average Won96.9mn ($66,100), compared with Won128.4mn for men, Leaders Index data shows. Similar to the manufacturing sector, most Korean bank staff retire in their mid-fifties, but they usually receive generous severance pay and packages that amount to several years’ salary if they retire early.

Foreign lenders in Korea, such as Citibank and Standard Chartered, also offer flexible work for parents with young children, reduced hours for pregnant women and longer paternity leave. They also offer baby bonuses, although these are less generous than those from local counterparts.

As the country addresses the world’s lowest fertility rate of 0.75 per cent, Korean banks have been at the forefront of the government-led initiative to solve it by offering various childcare benefits. The demographic crisis poses a huge challenge for sustaining economic growth and providing pensions and healthcare for an ageing population.

But economic and cultural discrimination means many Korean women remain reluctant to marry and have children. South Korea has the highest gender pay gap among rich countries, with women paid almost a third less than men, despite their above-average level of tertiary education, reports the OECD.

There are equal opportunities for hiring, but they are not equal positions

South Korea’s male-oriented corporate culture and working hours — some of the longest in the OECD — remain a barrier to women’s labour participation, with more than 15 per cent of married women quitting jobs after having children, according to government data, while those who keep working struggle to progress in their careers.

The government has been spending heavily to counter the low birth rate, with financial groups going beyond national requirements by offering baby bonuses worth tens of thousands of dollars and up to three years of maternity leave, as well as flexible working for parents with children aged below 10 at school. Statutory leave is up to a year and a half.

Banks such as KB Kookmin and Woori last year started offering up to three years of “parental resignation” programmes for employees with children aged below seven, on top of a two-year childcare leave, with the guarantee of returning to the same position.

There are limits, however. Despite the government policy to support paternity leave — a father with a child under eight can take up to a year and a half off — men taking the leave remains at a single-digit rate at most banks because of social norms that still regard childcare and household duties as a woman’s job.

Despite the high proportion of female workers, few are at executive level in the financial sector, as most women work in retail banking, rather than higher-margin businesses such as corporate and investment banking, which are seen as better for promotions.

“There are equal opportunities for hiring, but they are not equal positions,” says Park Ju-geun, head of Leaders Index, noting there is still a 30 per cent pay gap in banking. “Women still don’t have many opportunities for promotions as they are barred from key operations like strategic planning, sales, marketing and treasury departments.”

The number of female executives is increasing after legislation in 2022 banned single-gender boards at companies with assets of more than Won2tn. But women still hold only 12.7 per cent of executive positions at South Korean banks, although this is higher than the 8.1 per cent average across the country’s 500 biggest companies, according to Leaders Index.

There are signs of improvement, however. Internet-only lender Toss Bank and the South Korean unit of Citibank both have female chief executives, while some banks offer leadership and mentoring programmes for women.

“Women are often hired for supplementary positions, so most fail to move up the ladder,” says Oh Hee-jung, deputy head of the Korean Finance & Service Workers’ Union. “Like in other sectors, the glass ceiling still exists in the financial sector, with most women struggling to shatter it.”

November 20, 2025 – Lenovo Group Limited (HKSE: 992) (ADR: LNVGY), together with its subsidiaries (‘the Group’), today reported record results for the second quarter of fiscal year 2025/26, with overall group revenue reaching an all-time high of US$20.5 billion, up 15% year-on-year. Adjusted net income[1] grew 25% year-on-year to US$512 million, and adjusted net income margin expanded to 2.5%, driven by higher revenues. Together, these reflect the strength of the Group’s operational performance as they exclude the impact of non-cash fair value loss on warrants, notional interest on convertible bonds, and other non-cash items.

The Group delivered double-digit year-on-year revenue growth across all main business groups and sales geographies. The AI-related revenue mix increased by 13 percentage points year-on-year, accounting for 30% of the Group’s total revenue this quarter. The growth was driven by high-double-digit revenue growth in AI Servers and triple-digit revenue growth in AI PCs, AI smartphones, and AI Services.

These results are a testament to the Group’s clear strategy, operational excellence, and relentless innovation, reflecting not only the strength of its business today but also the resilience of its unique ‘Global/Local’ model and the vision of a company built to lead in the AI era. With the initial wave of infrastructure build-out in the AI era, the trend is evolving toward a more human- and enterprise-centric phase, as large language models become commoditized and user priorities shift toward personalization and private domain. This evolution is unlocking new opportunities across devices, hybrid infrastructure, and tailored solutions, and enabling the Group to expand its leadership in Personal AI and further deliver its value proposition in Enterprise AI.

As the macroeconomic environment stabilizes, Lenovo remains committed to executing its Hybrid AI strategy and investing in innovation to deliver sustainable long-term returns to shareholders and make AI truly personalized.

Lenovo’s Board of Directors declared an interim dividend of 8.50 HK cents per share.

Chairman and CEO quote – Yuanqing Yang:

“Capitalizing on the AI democratization trend, and thanks to our clear strategy, operational excellence and relentless innovation, Lenovo delivered another quarter of record performance, while making important progress in both Personal AI and Enterprise AI. We will continue to leverage our unique Global/Local model to navigate uncertainties and capture the tremendous Hybrid AI opportunities, and in doing so not only deliver sustainable long-term returns to our shareholders, but also make AI truly personalized for every individual and every enterprise.”

Financial Highlights:

Personal AI: Innovation strengthened market leadership, enriching ecosystem

Lenovo is meeting growing consumer demand for hyper-personalization with its Personal AI strategy, ‘One Personal AI, Multiple Devices’. Launching globally at Tech World on January 6, 2026, Lenovo’s Personal AI super agent will seamlessly orchestrate across wearable and ambient devices to perceive, learn, and act like its user – ultimately becoming a true Personal AI Twin.

 Intelligent Devices Group (IDG) as the core engine for Lenovo’s Personal AI strategy, delivered strong Q2 FY25/26 results:

• Overall IDG revenue grew nearly 12% year-on-year to US$15.1
• PC market leadership was strengthened with a record 25.6% market share, further widening the lead over the number two player.
• The PCs and smart devices business maintained its industry-leading profitability, driven by solid performance from high-margin segments.
• AI PC penetration accelerated, accounting for 33% of all Lenovo PC shipments. Lenovo ranks #1 globally in the Windows AI PC segment with a 31.1% market share. Motorola smartphones delivered record volumes.
• AI device momentum is particularly encouraging, with revenue mix from AI devices up 17 points year-on-year to 36%.

Enterprise AI: Unleashing Hybrid AI Advantage, from infrastructure to solutions and services

Lenovo is advancing its Enterprise AI strategy to help customers turn data and knowledge into actionable insights and value. The Group is well-positioned to drive Enterprise AI transformation and develop an AI Twin for customers. The shift from cloud-based AI training to on-premises and edge inferencing is expected to fuel greater growth in AI devices and AI applications, further expanding the company’s total addressable market.

 Infrastructure Solutions Group (ISG) as the key driver of Lenovo’s hybrid infrastructure, delivered strong growth in Q2 FY25/26:

• Revenue grew 24% year-on-year to US$4.1 billion through the continued strong execution of its CSP (Cloud Service Provider) and Enterprise SMB dual strategy.
• CSP business delivered record fiscal Q2 revenue.
• The AI infrastructure business revenue achieved high double-digit year-on-year growth with a strong
• Revenue from industry-leading liquid cooling solutions grew 154% year-on-year.
• By optimizing Enterprise SMB business models to better serve the distinct needs of enterprise and SMB customers, the Group is confident that the infrastructure business will return to profitable growth soon.

 Solutions and Services Group (SSG) delivered solid growth in Q2 FY25/26, providing solutions and services for enterprises that leverage the Lenovo Hybrid AI Advantage:

• SSG’s overall revenue grew 18% year-on-year to US$2.6 billion – marking 18 consecutive quarters of year-on-year revenue growth.
• Operating margin was up 1.9 points year-on-year to over 22%.
• Revenue from Support Services accelerated with double-digit year-on-year growth; Managed services and Projects and Solutions revenue mix was up 1 point year-on-year to almost 60% of SSG’s total revenue.
• SSG is unleashing the power of Lenovo Hybrid AI Advantage, combining the AI factory, AI services, and the AI library of repeatable, scalable AI solutions for selected vertical industries and horizontal functions.

Corporate and ESG highlights

Achievements, announcements, and notable commitments over the past quarter include:

[1] Note on adjusted net income:Adjusted measure was defined as financial metric by excluding net fair value changes on financial assets at fair value through profit or loss, amortization of intangible assets resulting from mergers and acquisitions, impairment and write-off of intangible assets, dilution gain on interest in an associate, fair value change on derivative financial liabilities relating to warrants, and notional interest on convertible bonds; and the corresponding income tax effects, if any.

About Lenovo

Lenovo is a US$69 billion revenue global technology powerhouse, ranked #196 in the Fortune Global 500, and serving millions of customers every day in 180 markets. Focused on a bold vision to deliver Smarter Technology for All, Lenovo has built on its success as the world’s largest PC company with a full-stack portfolio of AI-enabled, AI-ready, and AI-optimized devices (PCs, workstations, smartphones, tablets), infrastructure (server, storage, edge, high performance computing and software defined infrastructure), software, solutions, and services. Lenovo’s continued investment in world-changing innovation is building a more equitable, trustworthy, and smarter future for everyone, everywhere. Lenovo is listed on the Hong Kong stock exchange under Lenovo Group Limited (HKSE: 992) (ADR: LNVGY). To find out more visit https://www.lenovo.com, and read about the latest news via our StoryHub.