Yangtze River Business Daily reporter Jiang Chuya
The good growth trend of each business line drove the performance of Nine Company to high growth.
On April 24, the short-term transportation leader No. 9 Company (689009. SH) released its first quarter 2024 results. According to the report, in the first quarter of this year, the company's operating income reached 2.562 billion yuan, a year-on-year increase of 54.18%, and the net profit attributable to the parent company was 136 million yuan, a year-on-year increase of 675.34%.
The company said that the company's intelligent electric two-wheeled vehicles continued to grow at a high rate, achieving sales revenue of 1.19 billion yuan during the reporting period, a year-on-year increase of 119%, and a single-quarter sales volume of 416,900 units, a year-on-year increase of 126%.
The global market has become an important driving force for the company's performance growth. In 2023, Nine Company will achieve operating income of 10.22 billion yuan, of which overseas revenue accounts for nearly half, reaching 47.05%.
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The core business grew together
Nine Company occupies a leading position in the field of intelligent short transportation in the world, and has formed many subdivided businesses represented by intelligent electric two-wheeled vehicles, electric scooters, intelligent lawn mowing robots, all-terrain vehicles, etc., by focusing on the two major sectors of short transportation and robots.
According to the data, in the first quarter, the company's revenue reached 2.562 billion yuan, a year-on-year increase of 54.18%, the net profit attributable to the parent company was 136 million yuan, a year-on-year increase of 675.34%, and the non-net profit was 142 million yuan, a year-on-year increase of 16874%.
For the performance growth in the first quarter, the company said that the company continued to deepen product innovation, improve product quality, and increase market promotion, and the sales of electric two-wheelers, robots and all-terrain vehicles achieved significant growth during the reporting period.
Among them, the company's intelligent electric two-wheeled vehicles achieved sales revenue of 1.19 billion yuan during the reporting period, a year-on-year increase of 119%, achieved a single-quarter sales of 416,900 units, a year-on-year increase of 126%, and the cumulative domestic shipments of electric two-wheeled vehicles exceeded 3 million units.
It is reported that the annual production capacity of the No. 9 two-wheeler plant can reach 2.5 million units, and the current capacity utilization rate is 100%. The construction of the new production capacity is also accelerating, and it is expected to be put into operation by the end of the year, when the overall annual production capacity of the electric vehicle plant can reach 3.5 million to 4 million units.
Nine also further improved the quality of operation by optimizing product structure and improving production efficiency, and the overall gross profit margin in the first quarter increased by 2.26 percentage points year-on-year to 30.48%.
Overseas business has become the engine of performance growth
In addition to high-end intelligence, "benchmarking for going overseas" is also a differentiated label that distinguishes Nine from other players in the industry.
In 2015, Nine Company acquired Segway, which is the originator of the global balance scooter, and this capital acquisition of "snake swallowing elephants" also brought a great first-mover advantage to Nine Company to go overseas. In 2016, Nine also set up its own local subsidiary in Europe.
At present, Nine Company has formed a complete set of overseas model, established branches in Europe, America and other major regions of the world, and built its own after-sales service and market operation system.
According to the financial report, in 2023, the revenue of 10.22 billion yuan will be almost half of the revenue from the overseas market, accounting for 47.05% of the total revenue, as high as 4.8 billion yuan, and the gross profit margin of the overseas market is nearly 11 percentage points higher than that of the domestic market.
Behind the continuous deepening of the global layout, high R&D investment has laid a technical foundation for the company's product innovation. According to the data, from 2019 to 2023, the company's R&D investment continued to grow, with a cumulative R&D expenditure of 2.482 billion yuan, and the R&D investment in the first quarter of 2024 increased by 29% year-on-year to 164 million yuan.
For the future development, Gao Lufeng, founder and chairman of Nine Company, said that he will continue to rely on the advantages of core technology and the whole industry chain to launch more blockbuster technologies and high-quality products, create a respectable world-class brand, and lead the transformation of the global short transportation and service robot industry.
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