Investment Rating - The investment rating for the company is "Buy" (maintained) [2][7] Core Views - The company is expected to achieve a revenue of 141.7 billion yuan in 2024, representing a year-on-year growth of 38.63%, and a net profit attributable to the parent company of 10.9 billion yuan, which is an increase of 81.9% [7] - The company anticipates a significant improvement in the shipment volume of two-wheeled vehicles at the beginning of 2025, with channel expansion and new product launches progressing steadily [8] - The lawn mower robot segment continues to show high growth, with sales in the U.S. market increasing significantly [9] Financial Summary - Revenue for 2024 is projected at 141.71 billion yuan, with a year-on-year growth of 38.6% [10] - Net profit attributable to the parent company is expected to reach 10.88 billion yuan in 2024, with a growth rate of 81.9% [10] - The company’s gross margin is projected to improve from 29.8% in 2024 to 32.0% in 2026 [13] Product and Market Development - The company plans to launch the N3 series electric motorcycles in March, which will enhance its market position and appeal to a broader customer base, including women [8] - The lawn mower robot industry is experiencing high growth, with the company maintaining a leading position in product reputation and distribution channels [9]
九号公司：公司信息更新报告：2024Q4业绩处预告中枢偏上，2025年开年两轮车&割草机器人或延续亮眼表现-20250301