上海证券给予九号公司买入评级，25H1归母净利润同增109%，增长动能持续释放

Group 1 - The core viewpoint of the article is that Shanghai Securities has given a "buy" rating for Ninebot Company (689009.SH) based on several positive factors [1] - The growth of electric two-wheelers is impressive, and the smart business is flourishing in multiple areas [1] - Product strength is driving an increase in profitability, and the company has good expense management [1] - Policy support is accelerating the replacement of old two-wheelers, indicating a positive outlook for the company's sustained growth [1]