Core Viewpoint - Lanjian Intelligent (688557.SH) has signed a business contract with Ninebot (Zhuhai) Technology Co., Ltd. for a total amount of 138 million yuan (including tax), which is expected to positively impact Lanjian's performance in 2026 [1] Company Overview - Lanjian Intelligent was established in February 2001 and listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board in December 2020. The company is based in Jinan, Shandong Province, and focuses on the research, design, production, sales, and service of intelligent logistics systems centered around smart logistics robots [3] - The company's revenue model includes sales of automated warehousing logistics systems, automated operation services based on these systems, after-sales maintenance services, and technical consulting services [3] Financial Performance - In the first three quarters of this year, Lanjian Intelligent achieved total revenue of 1.131 billion yuan, a year-on-year increase of 35.68%. The net profit attributable to shareholders was 93.75 million yuan, up 47.54% year-on-year. However, the net cash flow from operating activities decreased by 45.82% to 13.93 million yuan [3] Ninebot Technology Overview - Ninebot Technology was established in May 2024 with a registered capital of 500 million yuan, located in Doumen District, Zhuhai. Its main business includes technical services, wholesale and retail of motorcycles and parts, sales of electric bicycles, and battery sales [3] - Ninebot Technology is a wholly-owned subsidiary of Nainbo (Beijing) Technology Co., Ltd. [3] Nainbo Company Overview - Nainbo is an operator of smart short-distance transportation devices, having launched several product series including Windrunner, Ninebot, and Ninebot One. The company received joint investment from Xiaomi Technology, Sequoia Capital, Shunwei Capital, and Huashan Capital in April 2015 [4] Ninebot Company Overview - Ninebot Company (Segway-Ninebot) is an overseas registered company headquartered in Beijing, offering products such as smart electric balance scooters, electric scooters, and service robots. It operates under the Ninebot and Segway brands, with a presence in over 100 countries and regions globally [5] Financial Performance of Ninebot Company - Ninebot Company was listed on the Sci-Tech Innovation Board in October 2020 and is recognized as the first company in China with a VIE structure and CDR issuance. The company reported a revenue of 6.65 billion yuan in the third quarter of 2025, a year-on-year increase of 56.82%, with a net profit of 550 million yuan, up 45.86% year-on-year. For the first three quarters, the company achieved a revenue of 18.39 billion yuan, a 68.63% increase year-on-year, and a net profit of 1.787 billion yuan, up 84.31% year-on-year [7] - The electric two-wheeler segment remains the most prominent business area for Ninebot Company, with sales of 1.4867 million units in the third quarter, generating revenue of 4.454 billion yuan, a year-on-year increase of approximately 72% [7]

Core Viewpoint - Lanjian Intelligent has signed a contract worth 138 million yuan (including tax) with Ninebot (Zhuhai) Technology Co., Ltd, which is expected to positively impact the company's performance in 2026 [1][2] Group 1: Company Performance - In the first three quarters of 2025, Lanjian Intelligent achieved a revenue of 1.131 billion yuan, representing a year-on-year growth of 35.68%, and a net profit attributable to shareholders of 93.75 million yuan, up 47.54% [4] - The company's revenue in the third quarter alone reached 508 million yuan, with a year-on-year growth rate of 62.62%, and a net profit of 52.39 million yuan, increasing by 97.12% [4] - As of June 30, 2025, Lanjian Intelligent had an order backlog of 2.06 billion yuan, reflecting a year-on-year increase of 56.89% [3] Group 2: Market Demand and Growth - The demand for intelligent robots has been increasing, leading to continuous growth in orders for Lanjian Intelligent, particularly in emerging strategic industries such as electric vehicles and new energy [3][4] - The company has also seen sustained growth in key sectors including food and beverage, pharmaceuticals, petrochemicals, and tires [3] Group 3: International Expansion - In the first half of 2025, Lanjian Intelligent generated overseas revenue of 56.28 million yuan, a significant increase of 164.1% compared to the same period last year [5] - The company secured new overseas project orders totaling 140 million yuan in the same period [5] - Lanjian Intelligent is actively pursuing a global strategy, participating in logistics industry exhibitions in multiple countries to enhance brand recognition and market influence [4]