登录新浪财经APP 搜索【信披】查看更多考评等级 第一节 重要提示 1.1本半年度报告摘要来自半年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规 划，投资者应当到www.sse.com.cn网站仔细阅读半年度报告全文。 1.2重大风险提示 公司已在本报告中详细阐述公司在经营过程中可能面临的各种风险，敬请查阅本报告第三节"管理层讨 论与分析"中"风险因素"相关的内容。 1.3本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、完整性，不存在虚假 记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 1.4公司全体董事出席董事会会议。 1.5本半年度报告未经审计。 1.6董事会决议通过的本报告期利润分配预案或公积金转增股本预案 1、公司拟以实施权益分派股权登记日登记的存托凭证总数扣减公司回购专用证券账户中的存托凭证份 数为基数，拟向全体存托凭证持有人每10份派发现金红利4.23元（含税）。截至2025年8月1日，公司存 托凭证总数为719,444,662份，以扣除公司回购专用证券账户中的9,409,705份存托凭证后的710,034,957份 存托凭证为基数，以此计算合计拟派发现 ...

公司代码：689009 公司简称：九号公司 九号有限公司2025 年半年度报告摘要 第一节 重要提示 展规划，投资者应当到 www.sse.com.cn 网站仔细阅读半年度报告全文。 公司已在本报告中详细阐述公司在经营过程中可能面临的各种风险，敬请查阅本报告第三节 "管理层讨论与分析"中"风险因素"相关的内容。 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 存托凭证份数为基数，拟向全体存托凭证持有人每 10 份派发现金红利 4.23 元（含税）。截至 2025 年 8 月 1 日，公司存托凭证总数为 719,444,662 份，以扣除公司回购专用证券账户中的 9,409,705 份存托凭证后的 710,034,957 份存托凭证为基数，以此计算合计拟派发现金红利 300,344,786.81 元（含税），占 2025 年半年度归属于上市公司股东净利润的 24.19%。 本次利润分配方案尚需提交公司 2025 年第一次临时股东大会审议。 √适用 □不适用 公司治理特殊安排情况： √本公司为红筹企业 √本公司存在协议控制架构 √本公司存在表决权差异安排 （一）本公司为红筹企业 公司为一家根据《开 ...

公告显示，公司第二季度实现营业收入66.30亿元，同比增长61.54%，归属于上市公司股东的净利润 7.86亿元，同比增长70.77%，归属于上市公司股东的股份支付费用1.03亿元，剔除股份支付费用影响后 的归属于上市公司股东的净利润8.88亿元，同比增长83.76%。电动两轮车销量138.87万台，收入39.60亿 元；自主品牌零售滑板车销量38.38万台，收入9.29亿元；全地形车销量0.80万台，收入3.23亿元。ToB 产品直营收入4.34亿元。配件及其他收入合计9.83亿元。 智通财经APP讯，九号公司(689009.SH)发布2025年半年度报告，该公司营业收入为117.42亿元，同比增 长76.14%。归属于上市公司股东的净利润为12.42亿元，同比增长108.45%。归属于上市公司股东的扣除 非经常性损益的净利润为13.12亿元，同比增长125.32%。基本每份存托凭证收益为1.73元。此外，拟向 全体存托凭证持有人每10份派发现金红利4.23元(含税)。 ...

Investment Rating - The investment rating for the company is "Accumulate" with a target price of 12.25 CNY [5] Core Views - The company has successfully launched its factory in Vietnam, enhancing its production capacity and flexibility in responding to overseas market demands [3] - The company is focusing on expanding its customer base both domestically and internationally, particularly in the North American and European markets [2] - The financial outlook has been adjusted, with expected net profits for 2025-2027 projected at 200 million, 230 million, and 280 million CNY respectively [4] Financial Performance Summary - In Q1 2025, the company achieved revenue of 790 million CNY, a year-on-year increase of 4%, while the net profit slightly decreased by 1% to 40 million CNY [1] - For the year 2024, the company is expected to generate revenue of 3 billion CNY, a decrease of 5% year-on-year, with a net profit of 160 million CNY, down 24% [1] - The gross profit margin for furniture manufacturing in 2024 was 35.7%, a decrease of 1.2 percentage points year-on-year [1] Product and Market Breakdown - In 2024, the revenue from smart electric beds was 2.4 billion CNY, accounting for 84% of total revenue, while mattress revenue was 220 million CNY, down 7% [1] - The company’s domestic revenue in 2024 was 180 million CNY, a decline of 18%, while overseas revenue was 2.7 billion CNY, down 3% [1] - The company is actively expanding its "Shufude" brand in the domestic market, with plans to open over 111 new stores in 2024 [2]

Core Viewpoint - Spring Power (603129) has shown significant growth in its financial performance for 2024 and Q1 2025, driven by high-end product development and global market expansion, leading to a "buy" rating from Pacific Securities [1][2]. Financial Performance - In 2024, the company achieved total revenue of 15.038 billion yuan, a year-on-year increase of 24.18%, and a net profit attributable to shareholders of 1.472 billion yuan, up 46.08% [2]. - For Q1 2025, total revenue reached 4.250 billion yuan, reflecting a 38.86% increase, with a net profit of 415 million yuan, up 49.60% [2]. Product and Market Growth - Revenue from all-terrain vehicles, motorcycles, and parts in 2024 was 7.210 billion, 6.435 billion, and 1.035 billion yuan, respectively, with year-on-year growth rates of 10.85%, 43.65%, and 30.50% [3]. - The company has successfully expanded its high-end product matrix and achieved significant sales growth in electric motorcycles, with sales of 106,000 units and revenue of 397 million yuan, a remarkable increase of 414.15% [3]. Regional Performance - In 2024, revenue from North America, Europe, and domestic markets was 4.535 billion, 4.005 billion, and 3.874 billion yuan, with year-on-year changes of -4.60%, +58.47%, and +49.94%, respectively, indicating strong performance in Europe and domestic markets [3]. Profitability and Efficiency - The gross margin for 2024 was 30.06%, down 3.44 percentage points, while Q1 2025 gross margin was 29.73%, down 2.79 percentage points, influenced by dealer subsidies and competitive pricing [4]. - The net profit margin for 2024 was 9.93%, an increase of 1.2 percentage points, and for Q1 2025, it was 9.94%, up 0.43 percentage points, indicating improved operational efficiency [4]. Investment Outlook - The global all-terrain vehicle market is expected to grow steadily, with domestic consumer education enhancing demand; motorcycle exports are also on the rise, supported by consumer upgrades and overseas market expansion [5]. - The company is positioned as a domestic industry leader with a comprehensive product range, projecting net profits of 1.861 billion, 2.316 billion, and 2.865 billion yuan for 2025-2027, with corresponding EPS of 12.20, 15.18, and 18.78 yuan [5].