Core Insights - Ninebot Company reported a strong financial performance in Q3, with revenue of 6.65 billion yuan, a year-on-year increase of 56.82%, marking nine consecutive quarters of growth [1] - The net profit attributable to shareholders reached 550 million yuan, up 45.86% year-on-year, with a gross margin improvement of 1.7 percentage points to 29.9% [1] Business Performance - The electric two-wheeler segment remains the standout performer, with sales of 1.4867 million units in Q3, generating revenue of 4.454 billion yuan, a year-on-year growth of approximately 72% [2] - The company announced that its cumulative sales of smart electric two-wheelers in the Chinese market have surpassed 9 million units, entering a new phase towards reaching 10 million units [2] - The launch of the new flagship smart electric motorcycle M5 series saw sales exceed 11,292 units within four hours, generating over 100 million yuan in sales [2] - The electric scooter business also showed strong performance, with retail revenue increasing by 38.14% year-on-year to 957 million yuan in Q3 [2] R&D and Innovation - Ninebot Company has significantly invested in R&D, with expenditures reaching 872 million yuan in the first three quarters of 2025, a 59% increase year-on-year [3] - The company has developed a proprietary operating system, NimbleOS, enhancing the overall performance of its vehicles by integrating various hardware capabilities [3] - As of mid-2023, Ninebot has secured 5,982 global intellectual property rights and has been involved in over 110 domestic and international technical standards across various technology fields [3] Strategic Vision - The founders of Ninebot emphasize that R&D investments are aimed at meeting user needs and anticipating unrecognized demands, focusing on transforming technology from a "toy" into a "life partner" for users [4]