Ninebot's semi-annual report shows an 81% year-on-year increase in revenue from e-bike, with the advantages of cultivating its own brand coming to the fore.
Supply chain of automobile enterprises
Ninebot (Chinese: 九号公司，689009:SH), a technology company focusing on innovative short transportation and robotics, announces its 2022 semi-annual results report. The company achieved revenue of CNY 4.82 billion during the reporting period, an increase of 2.16% year on year, net profit of CNY 256 million, an increase of 0.63% year on year, and net cash flow from operating activities of CNY 980 million, an increase of 368.37% year on year.
In the report, Ninebot said that the company achieved steady growth in sales of its own brand and ToB products during the reporting period. Specifically, the combined sales revenue of Ninebot's own brand and ToB-side business was CNY 4.09 billion, accounting for over 85% of the total revenue. Smart e-bike business continued to release volume, achieving sales of 307,000 units and revenue of CNY 930 million, up 81% year on year. The number of stores nationwide was later increased to 2,400, covering 700 cities.
The report shows that Ninebot has continued to expand its territory in the global smart short transportation field by virtue of its quality product based on R&D innovation and its ability to supply solutions for the whole life cycle of micro mobility. The globalization layout of its own brand has also achieved significant results, which, overlaid with the accelerated commercialization process of the company's commercial delivery service robots and home service robots, is expected to further open up long-term market incremental space.