Ninebot's first-half net profit down 18.8%
Ninebot reported a 18.79% year-on-year decrease in net profit attributable to parent company for the first half of 2026, reaching 1.01 billion yuan, despite a 22.28% rise in revenue.
Ninebot (IT Home) announced its first-half financial results for 2026, revealing a significant drop in net profit. The company's net profit attributable to the parent company fell by 18.79% to 1.01 billion yuan. This decline occurred even as the company saw its total revenue increase by 22.28% to 14.36 billion yuan during the same period.
The second quarter of 2026 also showed a profit decrease, with net profit amounting to 805 million yuan, despite a revenue growth of 28.03% to 8.49 billion yuan. Key revenue drivers included electric two-wheelers and retail scooters.
The financial report indicates a potential pressure on profitability, as earnings per share also saw a decline. Operating cash flow experienced a substantial decrease of 46.14%, suggesting challenges in cash generation or increased operational expenses.
Despite the profit dip, Ninebot has increased its investment in research and development, with R&D expenditure rising to 5.23% of revenue, an increase of 0.78 percentage points from the previous year. This highlights the company's continued focus on innovation amidst financial performance fluctuations.