Core Insights - Ninebot Company reported record-high revenue and net profit for 2024, with total revenue reaching 14.196 billion yuan, a year-on-year increase of 38.87%, and net profit attributable to shareholders at 1.084 billion yuan, up 81.29% year-on-year [1] Domestic Market - In the domestic market, Ninebot's smart electric two-wheelers saw explosive growth, with total sales of approximately 2.6 million units and revenue of 7.211 billion yuan, reflecting a year-on-year increase of 70.38% [2] - By March 10, 2025, the cumulative shipment of electric two-wheelers exceeded 6 million units, making Ninebot the fastest company to achieve this milestone in the industry [2] - The company continues to enhance its product matrix by launching innovative products such as the Segway Xyber electric bicycle and the Ninebot M series with a range of up to 100 kilometers [4] Retail Expansion - Ninebot accelerated its offline store expansion, covering over 1,200 counties and cities, with the number of stores surpassing 7,600, further solidifying its leading position in the smart electric vehicle sector [6] Overseas Market - In the overseas market, the Segway brand's all-terrain vehicles achieved significant sales, with 23,800 units sold and revenue of 976 million yuan, marking a year-on-year growth of 39.77% [8] - The Segway all-terrain vehicle brand became the fastest to reach 100,000 units sold globally, supported by its strong technical capabilities and product innovation [8] - The brand's high-end positioning and technological reputation were reinforced through participation in events like the Dakar Rally, enhancing its image of "performance and technology" [10] Financial Performance - The company's gross margin improved significantly, reaching 28.24%, with operating cash flow increasing by 44.59% to 3.354 billion yuan [12] Future Outlook - As a member of the Chinese technology sector, Ninebot aims to leverage its "hardware + data + services" ecosystem to provide quality products and services globally, with expectations of greater potential in the smart mobility sector as its global supply chain and sales network continue to improve [13]
九号公司2024年财报出炉，海内外市场双轮驱动业绩创历史新高！