Nine Company, a company successfully listed on the Science and Technology Innovation Board on October 29, 2020, is known as the "first CDR stock" on the A** market. As the first company in China to be listed through the issuance of CDRs (Chinese Depositary Receipts), Nine Company has set a number of precedents in China's capital market, including becoming the first red-chip reporting enterprise registered overseas and the first listed company to have a Control by Agreement (VIE) structure. In an interview with a reporter from Time Weekly, Wang Ye, CEO of Nine, said that the establishment of the Science and Technology Innovation Board and the reform of the registration-based system have provided a rare opportunity for Nine.
Founded in 2012, Nine launched the electric self-balancing scooter in 2013 and acquired Segway, the ancestor of the electric self-balancing scooter two years later, thus consolidating its leading position in the field and having a global presence.
After the listing, the performance of Nine Company continued to grow rapidly. In just its first year on the market, the company turned a profit. By 2021, Nine's revenue reached 914.6 billion yuan, a year-on-year increase of 5236%；Net profit attributable to owners of the parent company was 41.1 billion yuan, a year-on-year increase of 45884%。
Wang Ye said that after the listing, the company has undergone many changes, as if from "childhood" to "adolescence", corporate governance and information disclosure have become more standardized and strict. This is a challenge that most companies face after going public, but it is also a good opportunity.
The second type of restrictive policies introduced by the Science and Technology Innovation Board have greatly relaxed the restrictions on incentive objects, scale and incentives. Nine Company has used this policy to carry out two equity incentives, making the incentive value of key employees more clear and more certain than the past option incentive methods.
Wang Ye pointed out that science and technology enterprises need the joint efforts of many outstanding talents to develop. These talents also need to be rewarded to a certain extent. He hopes that after the domestic listing of red-chip enterprises, they can further improve the relevant systems such as option exercise arrangements for core technical backbones and management employees, so that key employees who have invested in intellectual capital can get due returns.
Wang Ye emphasized that innovation is the core gene of Nine Company. He believes that only innovation can enable enterprises to have core competitiveness and go further. Nine Company has always focused on user value, driven by innovation, and constantly carried out technical and management innovation.
For science and technology companies, R&D investment is a necessary condition for survival. The reason why Nine has been able to survive is rooted in its continuous R&D investment and innovation. Wang Ye said that effective innovation refers to innovation that can bring business returns and significantly improve the technological progress and user value in the field. This is the core judgment criterion for Nine Company's focus on R&D and innovation.
Wang Ye** In the next 10 years, the entire short traffic will change a lot. He sees the first trend as a shift from internal combustion engines to electric drives; The second trend is intelligence. Robotics is likely to become ubiquitous, and robotics will change the scene of short-distance travel in the past, and the market prospect is very impressive.
Nine has a slogan and goal: we hope to become a Honda like the era of internal combustion engines, with a global layout, endless innovation, reliable and stable quality.