Core Viewpoint - Green Source Group has demonstrated strong financial performance in the first half of 2025, achieving significant revenue and profit growth despite a challenging electric bicycle market [1] Financial Performance - The company reported a revenue of 3.096 billion yuan, representing a year-on-year increase of 22.2% [1] - Net profit reached 110 million yuan, showing a year-on-year growth of 66.9% [1] - Gross margin improved to 13.6%, up by 1.6 percentage points compared to the previous year [1] Product Innovation and Technology - The company focuses on technology and durability, investing in R&D to maintain its leading position in liquid-cooled motors [2] - A digital battery management system was launched to address battery durability issues, ensuring safety through intelligent temperature control [2] - The braking system features high-strength ceramic brake pads, enhancing lifespan by five times compared to standard drum brakes [2] Marketing and Sales Strategy - Green Source Group has over 14,000 offline retail stores and has innovated its marketing model by establishing online stores on major e-commerce platforms [3] - This new retail model has successfully driven approximately 300,000 electric two-wheelers to stores, with customer satisfaction increasing by 20% year-on-year [3] - The company has expanded its international business, entering three new countries and achieving significant growth in Southeast Asia and Africa [3] Brand Development - In 2025, the company launched the LYVA brand targeting urban middle-class consumers seeking high-quality, tech-oriented lifestyles [3] - LYVA features an AI mid-mounted motor and smart riding algorithms, enhancing user interaction and transitioning from functional transportation to intelligent companionship [3] Strategic Vision - The company aims to provide a "full-scenario light travel solution," integrating hardware, software, and services [4] - Its product matrix covers various scenarios, including commuting, sports, and family needs, to meet diverse consumer demands [4] - The establishment of a "3-kilometer service circle" through 14,000 smart stores offers rental, on-site maintenance, and battery swapping services, creating a closed-loop business model [4]

"一主多元"业务组合，全域销售无死角 8月27日，绿源集团控股(2451.HK)披露2025年上半年业绩公告。公司实现营业收入30.96亿元，同比增 长22.2%；实现净利润1.10亿元，同比增长66.9%。毛利率达到13.6%，同比增长1.6个百分点。公司扎实 的基本面使得其在上半年电动自行车市场复杂环境下脱颖而出。得益于高性价比的产品、领先的研发和 定制能力、健康的渠道品牌策略以及稳定的渠道资源，公司交出了一份惊艳的成绩。 核心技术打造品质壁垒，引领行业口碑 绿源集团"以技术立命、以耐用品为核心"的品牌路径，持续投资研发创新，不断夯实 "液冷电机"的领 先地位。同时，针对电池耐用性痛点，公司推出数字化电池管理系统，通过低温加热、高温调控智能技 术，全方位守护电池安全，奠定"一部车骑10年"的耐用性口碑。此外，其刹车系统采用高强度陶瓷刹车 片与精密罗拉结构，寿命较普通鼓刹提升 5 倍，实现 "安全与耐用" 双升级，真正做到了跑得远、刹得 住、用得久。除电动两轮车核心系统外，公司正积极布局机器人领域关键零部件的研发。今年7月，公 司作为联合牵头单位，参与成立金华开发区机器人产业联盟。凭借其在电机系统及智能控制 ...