Core Viewpoint - The company is expected to achieve significant growth in its two-wheeler segment, with projected sales of 2.6 million and 2.39 million units for 2024 and the first half of 2025, respectively, reflecting year-on-year increases of 77% and 100% [4] Group 1: Business Performance - The company's gross margin is anticipated to rise due to scale effects and product structure optimization, reaching 21.1% and 23.7% for 2024 and the first half of 2025, respectively, positioning it as an industry leader [4] - The company has a strong brand presence in the smart two-wheeler market, capturing half of the top 20 smart electric two-wheeler products in 2024 according to iResearch data [5] Group 2: User-Centric Business Strategy - The company targets a younger consumer demographic, with 66% of purchases made online during the 2025 618 shopping festival being from consumers under 35 years old, indicating a shift from traditional purchasing patterns [6] - The company employs precise marketing strategies to reach core user groups, enhancing user experience through tailored products [6] Group 3: R&D and Organizational Structure - The company utilizes a matrix organizational structure that combines centralization and decentralization, ensuring strategic accuracy while fostering innovation [7] - A dual-line R&D mechanism allows for effective management of short-term and long-term goals, maintaining competitive advantages [7] - The company emphasizes the importance of experienced product managers and offers incentives to retain talent, ensuring stability and continuous improvement [7] Group 4: Future Prospects - The company plans to increase its store count to 9,500 by the end of 2025, enhancing its O2O model and store efficiency [8] - Continuous upgrades to the OTA system will provide consumers with an improved user experience throughout the product lifecycle [8] - The company is expanding its service centers, leading the industry in product warranty periods and after-sales service [8]
【九号公司-WD（689009.SH）】两轮车业务：围绕核心目标人群，提供全生命周期用户体验——动态跟踪报告（一）（洪吉然）