Company Nine’s revenue growth accelerated in 2Q26, pressure on profit margins eased, and valuations are attractive (Goldman Sachs)
Goldman Sachs predicts that Nine Company's second-quarter revenue growth will increase year-on-year compared with the first quarter, and the growth of robotic lawn mowers and 2B scooters will accelerate.
Goldman Sachs predicts that Nine Company's second-quarter revenue growth will increase year-on-year compared with the first quarter, and the growth of robotic lawn mowers and 2B scooters will accelerate. Profit margins are still under pressure year-on-year, but month-on-month pressure has narrowed. The company's current valuation is lower than the historical average price-to-earnings ratio, and with the addition of dividends and buyback plans, the risk-reward ratio is attractive, and the positive rating is maintained. One-sentence conclusion: Nine is benefiting from multiple growth engines, margin pressure is peaking, and the current low valuation provides an excellent margin of safety and upside. Positive/negative: Positive for No.9 Company (689009). Market concerns about margin pressure may be overdone, with accelerating business growth and a return to valuation providing dual benefits. Catalysts: 1) Specific revenue and profit margin data from the 2Q26 financial report; 2) The peak sales season performance of robotic lawn mowers in the European market; 3) The development progress of new businesses (such as E-bike).