Recently, Nine Company (689009) released its 2024 annual report, with outstanding annual results, and a number of core indicators hit new highs, showing strong growth momentum and market competitiveness.

Revenue and net profit increased significantly, and the profitability level increased significantly

According to the report, in 2024, the company will achieve operating income of 14.196 billion yuan, a year-on-year increase of 38.87%; The net profit attributable to shareholders of listed companies reached 1.084 billion yuan, an increase of 81.29% year-on-year. The net profit after deducting non-recurring gains and losses was 1.062 billion yuan, a year-on-year increase of 157.24%, and profitability continued to increase. The net cash flow generated by operating activities was 3.354 billion yuan, a year-on-year increase of 44.59%, with abundant cash flow, providing a solid guarantee for the company's sustainable development.

The core business performance is outstanding, and the product matrix is in full bloom

As a leading enterprise in the field of intelligent short transportation and service robots, Nine Company has performed well in the multi-category product market. The domestic shipment of electric two-wheeled vehicles exceeded 6 million units, and the revenue in China was 7.211 billion yuan, a year-on-year increase of 70.38%, and the strategy of "intelligent, young and high-end" has achieved remarkable results; The revenue of overseas markets was 5.772 billion yuan, a year-on-year increase of 20.03%, and the global layout was steadily promoted. With a revenue of 861 million yuan, the intelligent lawn mower robot has become a new growth pole, and its flagship product, the Navimow X3 series, has been widely welcomed in the European and American markets by virtue of its leading technical advantages. The annual sales volume of electric scooters was 1.2431 million units, with a revenue of 2.479 billion yuan, and it continued to consolidate its leading position in the global market.

R&D investment continues to increase, and technological innovation drives development

The company attaches great importance to R&D innovation, and its R&D investment will reach 826 million yuan in 2024, a year-on-year increase of 34.13%, accounting for 5.82% of operating income. A total of 3,593 domestic and foreign patents have been obtained, and 984 new patents have been added throughout the year, maintaining a leading position in core technology fields such as self-balancing control and intelligent navigation. During the reporting period, new products such as the Segway electric scooter ZT3 Pro and the Nine Electric E300P MK2 were launched, integrating a number of innovative achievements such as the Segride stabilization system and RideyLONG long-range technology, further strengthening the differentiated competitiveness of products.

Actively reward shareholders, cash dividends and repurchases at the same time

The company pays attention to shareholder returns, and intends to distribute cash dividends of 11.31 yuan (tax included) for every 10 shares based on 7.079 billion depositary receipts after deducting the special account for repurchase, with a total cash dividend of 801 million yuan, accounting for 73.85% of the net profit. Together with the share repurchase of 300 million yuan during the year, the total cash dividends and repurchases reached 1.101 billion yuan, accounting for 101.52% of the net profit, fully reflecting the importance of shareholders' interests.

Practicing social responsibility and ESG construction has been recognized

In the field of ESG, Nine Company has performed well, winning many honors such as the "2024 Best ESG Practice Award for Listed Companies", and the ratings of China Securities and China Guoxin have reached AA. The company actively promotes green production, uses 35% of recycled materials for electric scooters, and deploys photovoltaic power generation systems to reduce carbon emissions. At the same time, it will continue to devote itself to public welfare undertakings, and will invest 4.4131 million yuan in public welfare in 2024, benefiting more than 13,000 recipients, demonstrating its corporate social responsibility.

In the future, Nine Company said that it will continue to focus on the strategy of "electrification + intelligence", deepen the global market layout, increase R&D investment, lead the development of the industry with innovative products and technologies, and continue to create value for shareholders and society. (Chen Xi).