No. 9 electric vehicle, missing the luck of the balanced car

On October 1, 2019, 400 performers danced in a balanced car on the balance car and completed a gift to the motherland. The performance props selected by the program group are the balanced vehicle products of the No. 9 company.

However, the No. 9 company itself is not very satisfied with this masterpiece. The balanced vehicle has no right rights in most China, which is doomed to be a track with acquired defects.

In order to break the ceiling, as of now, the product line development of No. 9 has covered many categories such as balanced vehicles, scooters, double -wheels, all -terrain cars, distribution robots, and grass -cut robots.

Diversity is undoubtedly becoming a label of Company No. 9. However, from the perspective of revenue structure, in the 2021 annual report, nearly 70%of the balanced car & scooter business is still the artery of No. 9.

Behind the contradictions of diversified product structure and single revenue dependence, companies No. 9, which are still in the transformation level, obviously need to answer. Can they reproduce the miracle of the car on other businesses?

A balanced car around the times

The 2008 Beijing Olympics adopted an environmentally friendly green strategy. The zero -emission SEGWAY PT was selected as an ideal green traffic solution. It was applied to the management of stadiums and activity hall management, community police, venue logistics, airport safety and personnel transportation.

This balanced car travel tool from the United States entered the domestic vision for the first time. In 2012, Gao Lufeng and Wang Ye, an alumni of the university, saw the future of the track, and jointly established the predecessor of No. 9 -Dingli United Technology.

Five months later, the company's first -generation domestic balanced car popularity was listed at 73,600, and the highest matching model reached 91,600 yuan.

In comparison, the first batch of basic Model S basic models produced from the Fremont Factory from Tesla in June of the same year was sold to $ 57,400.

Based on the current exchange rate, a Model S is probably equivalent to 5 balanced cars. There is no doubt that the price of such a price is destined to become a mainstream popular consumer product.

Subsequently, the focus of product development began to reduce costs to reduce costs. In November 2013, the second -generation balanced vehicle products were released, and the starting price fell to 9,880 yuan. At the same time, the number of pre -sale of JD.com exceeded 30,000 units in the first week.

However, in 2013 when the per capita disposable income of residents across the country was only 18,300 yuan, the price of 10,000 yuan was still not enough to support the popularization of balanced cars. Until October 2015, the "No. 9 balanced car", which was priced at 1999 yuan, finally made this high -end niche toy with the opportunity to become a mass mobility tool.

With only three years, companies No. 9 have achieved a large diving cost reduction and price reduction, and today they have become invisible giants in the field of balance.

However, behind the seemingly revolutionary business miracle, there is no core technology research that has made rapid progress, only the most simple business common sense. Before the sharp price cut, the No. 9 Company completed the wholly -owned acquisition of SEGWAY, the world's largest balanced car brand SEGWAY in April 2015.

For the importance of this acquisition, the founder Gao Lufeng believes that this merger and acquisition ensure the company's peace at least 5-10 years, not only to avoid the company's hard battle with the opponent's death, but also to let SEGWAY high-end brand, a high-end brand of Segway More than 400 patents and mature overseas channel resources are included in the bag.

Through the power of capital, 95%of the patented technology accumulation of the balance car field was completed in a short period of time. At the same time, the dual brand strategy is opened, and in overseas markets, with the popularity of the acquired brand and mature sales channels, it quickly completes the occupation.

The cost of lithium battery in the core component of the balance vehicle is also a dividend in another era. According to the statistics of Bloomberg, from 2010 to 2015, the price of lithium batteries in the world decreased by about ten times, of which 35%of them declined in 2015, exactly the time to launch time with the No. 9 balance car of 1999 yuan.

The technical advantages, market channels, brand dividends, scale effects, and lithium battery price reduction after the acquisition of mergers and acquisitions have effectively promoted the popular travel tools of companies that have pulled balance vehicles from high -end toys to larger market ceilings.

However, it may be at the 0-1 stage, and the five-fold red consumed the track. After coming from high -end toys to the popular travel tools, the scale effect also brought infinite magnification of the shortcomings of the car.

In September 2015, the first balanced vehicle fire occurred in the United States. At the end of the year, the balanced vehicle products of fire and explosion accidents increased to 54.

In view of the safety and quality of balance cars, traffic police in Shanghai, Beijing, Guangzhou and other places in Shanghai, Beijing, Beijing, Guangzhou and other places in 2016 began to investigate and deal with balancing products such as twisting cars, skateboards, and single wheels driving on the road. The United States and European countries have gradually introduced corresponding traffic regulations, and the right to balance the balancing vehicles in multiple countries is limited.

The main product balance car does not have the right to road. The No. 9 company that has just completed the popularity of Volkswagen in terms of price has had to start to turn the focus of operation to countries that have not yet clearly defined the right of the road to maintain revenue growth. Find the next track that can replace the balanced car business.

Robots and electric vehicles with limited bonus

For the choice of the new track, company No. 9 has a general logic -technical reuse + air outlet selection.

Under this policy guidance, the overseas market is mainly based on service robots. At the end of 2017, No. 9 launched the first service robot product "Lu Meng Loomo", and was officially mass -produced and listed in early 2018. In recent years, it has also launched a broad robot product such as end logistics products and grass -cut robots. In addition to the finished product, No. 9 also sells robot solutions. The main products are SEGWAY RMP. By providing enterprise or third -party developers with universal and integrated robotic mobile chassis solutions, customized services and secondary development are realized.

In order to highlight the determination of the transformation, Company No. 9 once used the "No. 9 Robot" as an enterprise abbreviation. However, when applying for the IPO of the Science and Technology Board, the company name was adjusted to No. 9 Smart, and finally disclosed in the prospectus for company No. 9.

The reason for the renamed storm is that the Shanghai Stock Exchange has requested whether the company name No. 9 to explain whether the company's name truly reflects the essence of the company's business, easy to identify, and whether there is exaggerated misleading statements in positioning, whether it will mislead ordinary investors.

Judging from the results, it is clear that the No. 9 company has not handled a trustworthy robot business report.

For the choice of overseas market robot tracks, the logic of companies No. 9 focuses on technological reuse. However, due to the lack of the general trend, it is difficult to land to generate large -scale revenue that can replace the balanced vehicle. For the domestic market, the choice of Company No. 9 is the electric two -wheeled track under the new national standard air.

According to industry data, the introduction of the new national standard in 2018 has accelerated the market's replacement process. As of the end of 2021, most provinces and cities have completed the transition period, and it does not conform to the new national bid electric bicycle.

At the same time, the three -year transition period of the new national standard implemented by most regions will also end at the latest in 2024. Therefore, 2022-2024 will usher in a more obvious tide of car changes. In 2022, the market is expected to change a new capacity of 45 million units, and the long-term steady state will remain at 5,000-55 million units.

During this time window, the ninth was caught very timely. At the end of 2019, the first smart electric vehicle product was released. At the same time, by 2021, a total of five series C, A, N, B, and E were launched. Line series layout.

However, so far, in the electric two -wheeled track, the No. 9 company has not successfully re -entered the miracle revolution of balanced vehicles.

The two main factors of the successful counterattack of the year were: the popularity of the niche to the mass market, and the driving force was the decline in diving prices under scale effects. In summary, No. 9 accelerated the industry concentration of balanced car tracks with capital power, and promoted the industry's rapid maturity from niche toys to the public tool market.

However, the two -wheeled electric vehicle track has developed since 1995. After experiencing the elimination period of 500 brands, it has already entered the mature stage of the mass market. In the new style of the hostel, the market share that can be grabbed No. 9 is very limited.

On the one hand, the period of lithium battery windows driven by the new national standard has passed, and the lithium battery has become an industry consensus since its launch in 2018.

On the other hand, the intelligent vehicle intelligent experience ceiling under the new country is limited. Different from the subversive experience brought by traditional fuel vehicles compared to traditional fuel vehicles, intelligentization does not bring a revolutionary experience change to the product in the limited space of two rounds of electric vehicles.

As a mass mobility tool, the positioning of electric vehicles can be the "old man music" in the buses, and the core is still battery life, safety, and cost -effectiveness. Obviously, No. 9 cannot bring industrial changes in these three aspects.

The revolution of the product is difficult to carry out. The market channel capabilities and brand awareness of No. 9 as a novice player have also lagged behind traditional electric vehicle brands.

In terms of market acquisition capabilities, most of the electric vehicles are based on offline sales channels. There are more than 10,000 offline stores in Yadi and Emma, ​​and the number of new generation Mavericks has exceeded 3,000, while only 1,700 two -wheeled electric car stores in the 9th.

In terms of Single Store Ping effect, according to data from open source securities, Mavericks single store revenue in 2020 was 1.2557 million yuan, and stores on No. 9 can only reach half of the Mavericks, with obvious gaps.

Not only that, the high -end market for power vehicles No. 9, with a small number of shipments and high costs. According to the 2021 financial report, the gross profit margin of the electric two -wheeled vehicle business was only 11.19%, which was significantly lower than its main electric balancing car business by 25.09%.

With the track logic of technical reuse + wind port selection, No. 9 did not find Segway in the field of electric vehicle to help its re -engraving success.

At the end

No. 9 of the "Quick Patentomy" was not found. On July 29th, he issued an announcement for personnel adjustments. Liu Miao was appointed as the new CTO, which was fully responsible for research and development related management.

Earlier, the company's CTO was also held by President Chen Zhongyuan. After the adjustment, Liu Miao was responsible for the development of research and development, which helped clarify the division of responsibilities of executives and ensured that he had more energy to invest in R & D work management. Along with personnel adjustment, there are also equity incentive plans, focusing on the new CTO, CFO, general manager of the business department and core technical personnel.

In an interview with the Times Weekly, CEO Wang Ye once said: We have a slogan -I hope we can become Honda in the era of internal combustion engines. Global layout, innovation is endless, and quality is reliable and stable.

It is also comparison of Honda. The founder and CIO Hu Yilin of the Mavericks and CIO said that the Mavericks never positioned themselves as a high -end, but instead be a company like Honda.As the two new generation players of the electric two -wheeled track, one mentioned the global perspective and the other is the pursuit of cost performance.Although the angle is different, the core is to serve more users and become a large company with large -scale main business.

However, on the way to become a big company, whether it is No. 9 or Mavericks, it has just rushed to the foot of the traditional giant.

@创

Author 丨 Ancient Editor 丨 Yi Page

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