Core Viewpoint - Cloudwalk Technology Group Co., Ltd. reported a significant increase in revenue for the first half of 2025, with operating income reaching approximately 169 million, a 40.21% increase compared to the same period last year [4]. Group 1: Company Governance - The company has a dual-class share structure, where Class A shares held by the controlling shareholder, Changzhou Cloudwalk, have six votes per share, while Class B shares have one vote per share [2][3]. - As of March 31, 2025, the voting power of Changzhou Cloudwalk decreased from 59.67% to 59.62% following the listing of 1,609,733 restricted stock units [2]. Group 2: Financial Performance - Total assets as of the report date were approximately 1.96 billion, reflecting a decrease of 1.37% from the previous year [6]. - The total profit for the period was reported at approximately -235 million, showing an improvement from -358 million in the same period last year [4]. - The net profit attributable to shareholders was approximately -230 million, also an improvement from -356 million year-on-year [4]. - Basic and diluted earnings per share were both reported at -0.22, compared to -0.34 in the previous year [7]. Group 3: Shareholder Information - The total number of shareholders as of the report date was 52,204, with one shareholder holding special voting rights [7]. - The largest shareholder, Changzhou Cloudwalk, holds 205,107,480 Class A shares, representing 19.75% of the total shares [8].

Core Viewpoint - Ninebot Limited reported significant growth in its financial performance for the first half of 2025, with substantial increases in revenue and net profit compared to the previous year [1][6]. Financial Performance - Total assets reached approximately CNY 19.62 billion, a 25.14% increase from CNY 15.68 billion at the end of the previous year [2]. - Operating revenue for the first half of 2025 was CNY 11.74 billion, representing a 76.14% increase from CNY 6.67 billion in the same period last year [2]. - The total profit amounted to CNY 1.72 billion, up 136.94% from CNY 727.73 million year-on-year [2]. - Net profit attributable to shareholders was CNY 1.24 billion, reflecting a growth of 108.45% compared to CNY 595.66 million in the previous year [2]. - The net cash flow from operating activities was CNY 3.65 billion, a 46.94% increase from CNY 2.49 billion [2]. Dividend Distribution - The company plans to distribute a cash dividend of CNY 4.23 per 10 depositary receipts, totaling approximately CNY 300.34 million, which accounts for 24.19% of the net profit attributable to shareholders for the first half of 2025 [1]. Sales Breakdown - In the second quarter, the company sold 1.39 million electric two-wheelers, generating revenue of CNY 3.96 billion; 383,800 self-branded scooters, generating CNY 929 million; and 8,000 all-terrain vehicles, generating CNY 323 million [6]. - Direct sales from ToB products amounted to CNY 434 million, while accessories and other revenues totaled CNY 983 million [6]. Shareholder Structure - The company has a unique voting structure with A and B class shares, where each B class share has five votes, allowing the actual controllers to maintain significant voting power [1]. - As of the report date, the actual controllers held 59.16% of the voting rights [1]. Governance and Control - Ninebot Limited operates under a red-chip structure and has a contractual control framework due to restrictions on foreign investment in value-added telecommunications services in China [1]. - The company has established various internal control systems to protect minority shareholders' rights, including independent directors and a robust information disclosure system [1].

Core Points - The company Ninebot Limited will hold its 2024 Annual General Meeting (AGM) on May 9, 2025 [1][5] - The voting rights for special voting shares will be equal to those of ordinary shares [1][8] - The record date for shareholders to participate in the AGM is set for May 6, 2025 [1][6] Voting Process - Voting will be conducted through the Shanghai Stock Exchange's online voting system [4][11] - Voting will be available from 9:15 AM to 3:00 PM on May 9, 2025, with specific time slots for different voting methods [4][11] - Shareholders must provide voting instructions to the custodian to exercise their voting rights [2][3] Shareholder Rights - The company has a dual-class share structure, with Class B shares having five times the voting power of Class A shares [8] - Major shareholders control 59.24% of the voting rights [8] - Certain shareholders must abstain from voting on related party transactions [9] Agenda Items - Key agenda items for the AGM include amendments to the company’s articles of association, changes to voting rights, and the appointment of independent directors [9][10] - Specific resolutions will require separate voting for minority investors [10]