Core Viewpoint - The two-wheeled electric vehicle industry is undergoing significant transformation with the new national standards, emphasizing compliance and smart technology while focusing on user needs such as convenience, safety, and functionality [2][17] Group 1: Product Launch and Market Response - Ninebot has launched the Fz series of electric vehicles, including models Fz1, Fz2, and Fz3, with prices set at 2999 yuan and 4899 yuan for Fz1 and Fz3 respectively, while Fz2 is available for reservation [2] - Since mid-December, the Fz series has seen a surge in market interest, with over 10,000 units reserved, establishing a strong market foundation for Ninebot's push towards "universal smart driving" [4] Group 2: Smart Features and User Experience - The Fz series incorporates smart driving capabilities as standard across all models, enhancing the smart travel experience beyond just high-end models [4] - Fz3 features an upgraded RideyFUN smart driving system and a 5-inch TFT display, which reduces distractions for users by providing essential information [8] - The series includes practical features like hill assist, traction control, and customizable driving parameters, addressing common user concerns in real-world scenarios [8] Group 3: Performance and Safety Enhancements - The Fz series emphasizes real-world usability with a "real scene endurance" system, achieving actual ranges of 56 km, 74 km, and 92 km for Fz1, Fz2, and Fz3 respectively, compared to theoretical ranges of 70 km, 95 km, and 110 km [11] - All models are built with high-strength alloy steel dual-tube frames and have passed 1 million vibration tests, ensuring stability for frequent commuting [11] - The lighting system has been upgraded, with Fz1's headlight brightness reaching 11,000 cd and Fz2 and Fz3 featuring a full-area lighting system with brightness up to 23,000 cd, enhancing visibility in low-light conditions [15] Group 4: Industry Perspective and Future Outlook - Ninebot is positioning itself to lead the transition from "smart electric vehicles" to "smart driving vehicles," making smart driving a fundamental capability for a broader user base [16][17] - The company aims to redefine the value of electric vehicle travel under the new national standards, ensuring that smart features translate into real-world benefits for daily commuting and travel [17]

Group 1: Industry Overview - The two-wheeled electric vehicle industry is entering a high prosperity cycle driven by policies that focus on "standardization + consumption promotion," which includes new national standards and subsidies for replacing old vehicles [3][4] - The new standards are raising technical barriers, promoting smart upgrades, and leading to market consolidation towards leading enterprises [3][4] - The industry is shifting competition towards technology and service dimensions, benefiting leading companies and core supply chain enterprises [3] Group 2: Policy Impact - The 2024 policies include a comprehensive action plan for safety issues, a consumption promotion plan, and new safety technical specifications for lithium-ion batteries [5] - The new standards will phase out outdated products and require significant upgrades, leading to a reshaping of the market competition landscape [4][5] Group 3: Market Dynamics - Revenue performance in 2024 is mixed, with a shift in consumer demand towards quality, performance, and smart features, benefiting mid-to-high-end products while pressuring low-end products [6] - Companies like Ninebot and Niu are experiencing growth, with Ninebot achieving nearly 40% revenue growth, indicating a widening gap between smart and traditional electric vehicles [6] - Traditional brands dominate the market below 4000 yuan, while Ninebot leads in the high-end segment with over 600,000 units sold [6]