Core Viewpoint - Companies are increasingly engaging in cancellation buybacks, with several firms opting to cancel shares from employee stock ownership plans due to unmet performance targets [2][10]. Group 1: Company Actions - Ninebot Company (689009.SH) announced the cancellation of 6 million CDRs, representing 0.83% of its total CDRs, previously intended for employee stock ownership plans [2][4]. - Other companies, including Qi Anxin (688561.SH) and Lepu Medical (300003.SZ), have also engaged in similar cancellation buybacks [2][6]. - Xinhe Co., Ltd. (003016.SZ) canceled 8 million shares, accounting for 1.867% of its total shares, with a total repurchase amount of approximately 69.92 million yuan [8]. Group 2: Market Implications - Cancellation buybacks are expected to reduce total share capital, potentially increasing earnings per share (EPS) without a change in net profit, thereby enhancing stock investment value [2][11]. - The trend of cancellation buybacks is seen as a response to policy guidance, market logic, and corporate demands, indicating a shift towards shareholder value [2][11]. Group 3: Financial Considerations - Ninebot Company stated that the cancellation will not affect its debt repayment ability or financial status significantly [4]. - The overall market environment, including the scarcity of quality assets and heightened investor demands for returns, is driving companies to focus on enhancing shareholder value [11][13]. - Concerns exist regarding the sustainability of EPS increases if underlying business fundamentals do not improve alongside buybacks [13].

Group 1 - The company has enhanced investor relations management by conducting over 200 investor research meetings and participating in more than 50 strategy meetings in 2024, along with issuing 50 research reports [1][1][1] - The company has maintained a 100% approval rate for meeting proposals by organizing 2 shareholder meetings, 10 board meetings, and 15 committee meetings throughout the year [1][1][1] - The company has completed 221 announcements in 2024, ranking among the top in the Sci-Tech Innovation Board, and received an A grade in the Shanghai Stock Exchange's information disclosure evaluation for 2023-2024 [1][1][1] Group 2 - The company has distributed a cash dividend of 1.131 yuan per depositary receipt (including tax) in 2024, totaling approximately 800.63 million yuan, which accounts for 73.849% of the net profit attributable to shareholders [1][1][1] - The company has voluntarily disclosed a sustainable development report for three consecutive years and introduced dedicated personnel for ESG work in 2024, including carbon verification and ESG report certification [1][1][1] - The company actively participates in various training organized by the Shanghai Stock Exchange and other associations to enhance professional capabilities and knowledge management tools [1][1][1]

Core Viewpoint - The motorcycle and other sectors experienced a significant increase of 3.19% on September 17, with Longxin General leading the gains [1] Group 1: Market Performance - The Shanghai Composite Index closed at 3876.34, up by 0.37% [1] - The Shenzhen Component Index closed at 13215.46, up by 1.16% [1] Group 2: Individual Stock Performance - Longxin General (603766) closed at 12.99, with a rise of 6.74% and a trading volume of 628,400 shares, amounting to a transaction value of 799 million yuan [1] - Taotao Industry (301345) closed at 221.60, up by 6.27% with a trading volume of 21,900 shares, totaling 479 million yuan [1] - Ninebot Company (6000689) closed at 70.32, increasing by 4.89% with a trading volume of 244,000 shares, resulting in a transaction value of 1.704 billion yuan [1] - Chunfeng Power (603129) closed at 290.32, up by 4.52% with a trading volume of 19,800 shares, totaling 564 million yuan [1] - Yong'an Xing (603776) closed at 22.66, increasing by 3.85% with a trading volume of 127,400 shares, amounting to 289 million yuan [1] - Huayang Saiche (834058) closed at 41.01, up by 3.30% with a trading volume of 23,900 shares, totaling 9.529 million yuan [1] - Lvtong Technology (301322) closed at 34.45, increasing by 3.17% with a trading volume of 56,300 shares, amounting to 193 million yuan [1] - Qianli Technology (601777) closed at 11.88, up by 2.59% with a trading volume of 565,700 shares, totaling 663 million yuan [1] - Jiuqi Co., Ltd. (300994) closed at 19.41, increasing by 2.10% with a trading volume of 86,800 shares, amounting to 170 million yuan [1] - Yuanma Technology (603529) closed at 34.87, up by 1.13% with a trading volume of 67,600 shares [1] Group 3: Capital Flow - The motorcycle and other sectors saw a net inflow of 254 million yuan from main funds, while retail funds experienced a net outflow of 129 million yuan and 125 million yuan respectively [1]

Core Viewpoint - Nine Company Limited will cancel 6,000,000 repurchased depositary receipts, which represents 0.83% of the total depositary receipts before cancellation, reducing the total from 722,480,793 to 716,480,793 [2][6] Group 1: Repurchase and Cancellation Details - The cancellation of the repurchased depositary receipts is scheduled for September 17, 2025, following the approval of the board and shareholders [3][6] - The company initially planned to use the repurchased depositary receipts for employee incentive plans but has now adjusted the purpose to cancellation [3][6] - The total amount allocated for the repurchase was between RMB 300 million and RMB 500 million, with a maximum repurchase price of RMB 58 per receipt [3][4] Group 2: Approval Process and Historical Context - The company held board meetings and a shareholder meeting in August and September 2025 to approve the adjustment of the repurchase purpose [3][6] - In previous actions, the company had already canceled 8,000,000 depositary receipts in March 2024, adjusting their purpose from employee incentive plans to cancellation [4][5] Group 3: Impact of Cancellation - The cancellation is intended to protect investor interests and enhance investor confidence, while not affecting the company's debt obligations or financial performance significantly [7] - The action is also expected to improve returns for depositary receipt holders without harming the interests of small investors [7]

（文章来源：证券日报） 证券日报网讯 9月16日晚间，九号公司发布公告称，公司将注销6，000，000份已回购存托凭证，占注 销前公司存托凭证总数722，480，793份的比例为0.83%。本次注销完成后，公司存托凭证总数将由 722，480，793份变更为716，480，793份。回购股份注销日期：2025年9月17日。 ...

Market Overview - On September 16, the motorcycle and other sectors rose by 0.62% compared to the previous trading day, with Greenway Technology leading the gains [1] - The Shanghai Composite Index closed at 3861.87, up 0.04%, while the Shenzhen Component Index closed at 13063.97, up 0.45% [1] Stock Performance - Greenway Technology (301322) closed at 33.39, with a gain of 4.41% and a trading volume of 49,300 shares, amounting to a transaction value of 164 million [1] - Zhenghe Industrial (003033) rose by 3.54% to close at 52.62, with a trading volume of 89,100 shares and a transaction value of 460 million [1] - Other notable performers include Taotao Industry (301345) with a 2.02% increase, Jiuyi Co. (300994) up by 1.88%, and Huabei Station (834058) rising by 1.59% [1] Fund Flow Analysis - The motorcycle and other sectors experienced a net outflow of 5.633 million from institutional investors, while retail investors saw a net outflow of 52.5426 million [2] - Conversely, speculative funds recorded a net inflow of 58.1755 million [2] Individual Stock Fund Flow - Zhenghe Industrial had a net inflow of 63.7377 million from institutional investors, while it faced a net outflow of 26.8496 million from speculative funds [3] - Greenway Technology saw a net inflow of 18.1301 million from institutional investors, but a significant net outflow of 18.1620 million from retail investors [3] - Jiuyi Co. experienced a net inflow of 21.8751 million from institutional investors, while retail investors had a net outflow of 47.6337 million [3]

证券代码：689009 证券简称：九号公司 公告编号：2025-063 九号有限公司 回购股份注销日期：2025 年 9 月 17 日。 公司于 2025 年 8 月 1 日召开第三届董事会第三次会议、2025 年 9 月 15 日 召开 2025 年第一次临时股东大会，审议通过了《关于调整回购股份用途并注销 的议案》，同意公司将存放于回购专用证券账户 9,409,705 份存托凭证中的 6,000,000 份的用途进行调整，由"先用于股权激励计划或员工持股计划"调 整为"用于注销"，并按照相关规定向上海证券交易所和中国证券登记结算有 限责任公司上海分公司申请办理注销手续及办理变更事宜。本次注销回购股份 日期为 2025 年 9 月 17 日，现将相关事项公告如下： 一、回购股份的基本情况 公司于 2024 年 1 月 10 日召开第二届董事会第十九次会议，审议通过了 《关于以集中竞价交易方式回购公司股份的方案》，同意以自有资金通过上海 证券交易所交易系统以集中竞价交易方式回购公司已发行的部分中国存托凭证 （CDR）。回购股份将先用于股权激励计划或员工持股计划，回购资金总额不低 于人民币 30,000 万元（ ...

存托凭证代码：689009 存托凭证简称：九号公司 公告编号：存托人 2025-005 存托人中国工商银行股份有限公司关于九号有限公 司召开2025 年第一次临时股东大会 2025 年第 2 次征 求境内存托凭证持有人投票意愿的结果公告 2、议案名称：关于调整回购股份用途并注销的议案 意愿征求情况： | 存托凭证持有人类 | 同意 | | 反对 | | 弃权 | | | --- | --- | --- | --- | --- | --- | --- | | 型 | 票数 | 比例（%） | 票数 | 比例 （%） | 票数 | 比例 （%） | | 存托凭证（对应基 | | | | | | | | 础股票为 A 类普通 | 104,188,966 | 12.0575 | 137,455 | 0.0159 | 9,100 | 0.0011 | | 股） | | | | | | | | 存托凭证（对应基 | | | | | | | | 础股票为 B 类普通 | 759,765,405 | 87.9255 | 0 | 0.0000 | 0 | 0.0000 | | 股（特别表决权股 | | | | | | | | ...

证券代码：689009 证券简称：九号公司 公告编号：2025-062 九号有限公司 2025年第一次临时股东大会决议公告 本公司董事会及全体董事保证公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 本次会议是否有被否决议案：无 一、会议召开和出席情况 （一）股东大会召开的时间：2025 年 9 月 15 日 （二）股东大会召开的地点：北京市海淀区西小口路 66 号中关村东升科技 园 A4 栋 （三）出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东 及其持有表决权数量的情况： （五）公司董事和董事会秘书的出席情况 1、公司在任董事5人，出席5人； 2、董事会秘书徐鹏出席了本次会议；部分高级管理人员列席了本次会议。 | 1、出席会议的股东和代理人人数 | 1 | | --- | --- | | A 类普通股股东人数 | 1 | | B 类普通股股东（特别表决权股东）人数 | 1 | | 2、出席会议的股东所持有的表决权数量 | 864,100,926 | | 出席会议的 A 类普通股股东所持有表决权数量 | 104,335,5 ...

北 京 大 成 律 师 事 务 所 关 于 九 号 有 限 公 司 202 5 年 第 一 次 临 时 股 东 大 会 的 法 律 意 见 书 北 京 大 成 律 师 事 务 所 北京大成律师事务所 关于九号有限公司 www.dacheng.com 北京市朝阳区朝阳门南大街 10 号兆泰国际中心 B 座 16-21 层（100020） 16-21F, Tower B, ZT International Center, No.10, Chaoyangmen Nandajie Chaoyang District, 100020, Beijing, China Tel: +86 10-58137799 Fax: +86 10-58137788 202 5 年 第 一 次 临 时 股 东 大 会 的 法律意见书 致：九号有限公司（Ninebot Limited） 北京大成律师事务所（以下简称"本所"）接受九号有限公司（Ninebot Limited， 以下简称"公司"）的委托，指派本所朱旭琦律师、李健律师出席公司 2025 年第 一次临时股东大会（以下简称"本次股东大会"），依据《中华人民共和国证券法》 （以下简称" ...