Luyuan Grp Hldg (Cayman) Ltd

Ninebot has released its 2026 semi-annual report. Revenue in the first half reached 14.357 billion yuan, up 22.28 percent year on year, but net profit attributable to the parent company was 1.008 billion yuan, down 18.79 percent, mainly due to exchange losses from currency fluctuations. The electric two-wheeler business, its largest revenue source, bucked the trend. Sales of smart electric two-wheelers reached 2.844 million units, up 19 percent year on year, with revenue of 7.49 billion yuan, up 10 percent. Over the same period, overall domestic industry sales were 28.252 million units, down 12.6 percent. Niu Technologies released its second-quarter report on the same day. Second-quarter revenue was 1.44 billion yuan, up 14.7 percent year on year, with total vehicle sales of 435,000 units, up 24.2 percent. Sales in the Chinese market reached 402,000 units, up 26.2 percent. The company expects third-quarter revenue to be between 1.863 billion and 2.033 billion yuan. Luyuan Group Holding issued a profit warning on July 28, expecting that profit attributable to company owners in the first half will fall by no more than 35 percent compared with the same period last year, mainly due to slowing demand during the consumer adaptation period after the transition to new national standards, and a significant increase in research and development and upfront investment for new business expansion.