Group 1 - The core point of the article is that Ninebot Company (SH 689009) announced a planned reduction in the holdings of its depositary receipts by Hctech III L.P., which currently holds 12,519,721 depositary receipts, accounting for 1.75% of the total [1] - Hctech III L.P. intends to reduce its holdings by up to 276,000 depositary receipts, representing 0.04% of the total depositary receipts, through block trading during the reduction period [1] - As of the announcement, Ninebot Company's market capitalization is 41.8 billion yuan [1] Group 2 - For the fiscal year 2024, Ninebot Company's revenue composition is as follows: smart short transportation accounts for 93.1%, while smart service robots account for 6.9% [1] - There is a significant increase in overseas orders for a related industry, with a reported surge of 246%, covering over 50 countries and regions [1] - Entrepreneurs have raised concerns about potential malicious competition in the overseas market, warning that some are selling at a loss [1]