Ninebot's profit fell on currency, but sales and buybacks stayed strong
First-half profit drops 18.79% on currency losses Ninebot's first-half net profit fell 18.79% to 1.008 billion yuan even as revenue rose 22.28% to 14.358 billion yuan. The drop came mainly from exchange losses when currency moved against it, a real counterweight that can keep the stock under pressure.
This is the main negative force this period and explains why profit fell despite strong sales.
Electric two-wheeler sales grow 19%, beating a shrinking market Ninebot sold 2.844 million smart electric two-wheelers in the first half, up 19%, while the overall domestic industry fell 12.6%. Its largest business is gaining share, which supports future revenue and profit.
Shows the core business is growing faster than rivals, a key positive driver.
Buybacks and new services return cash and add fees Ninebot repurchased 5.71 million depositary receipts for about 220 million yuan and will cancel them, signaling confidence. It also earns 108 million yuan from electric two-wheeler software memberships and launched two eBike models in the US, opening new revenue.
Buybacks support the share price and new services add recurring revenue.
Domestic shipments pass 14 million, showing steady demand Cumulative domestic shipments of Ninebot's smart electric vehicles surpassed 14 million units by late September, up from 13 million in July. This steady milestone growth shows end-customer demand remains strong for its core product line.
Confirms ongoing demand momentum for Ninebot's main product.