Ninebot (SHSE:689009) Research & Development: ¥1,368 Mil (TTM As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

SHSE:689009 Ninebot Ltd SHSE:689009
79 GF Score
Price ¥42.61
GF Value ¥87.54
Valuation Significantly Undervalued
! 2 Warning Signs
View Full Analysis

What is Ninebot Research & Development?

Ninebot SHSE:689009 -0.12% 79 Research & Development is ¥1,368 Mil as of Mar. 2026. GuruFocus rates SHSE:689009 with a GF Score™ of 79/100 and a GF Value™ of ¥87.54 (Significantly Undervalued). The stock has 2 warning signs investors should review.

Research & Development is the aggregate amount of research and development expenses during the year. Ninebot's Research & Development for the three months ended in Mar. 2026 was ¥371 Mil. Its Research & Development for the trailing twelve months (TTM) ended in Mar. 2026 was ¥1,368 Mil.

Ninebot  (SHSE:689009) Research & Development Explanation

If competitive advantage is created by a patent or tech advantage, at some point it will disappear.

High R&D usually dictates high SG&A which threatens the competitive advantage.

Ninebot Research & Development Related Terms

Ninebot Research & Development Historical Data

* Premium members only.

The historical data trend for Ninebot's Research & Development can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Ninebot Research & Development Chart

Ninebot Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Research & Development
Get a 7-Day Free Trial Premium Member Only Premium Member Only 503.51 583.13 615.94 826.13 1,249.73

Ninebot Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Research & Development Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 253.04 269.37 349.24 378.08 371.10
SHSE:689009
79GF Score
Ninebot Ltd SHSE:689009
Research & Development is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Ninebot Research & Development Calculation

This is the expense the company spent on research and development.

Research & Development for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ¥1,368 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Research & Development →
What does a Research & Development of ¥1,368 Mil mean?
Ninebot (SHSE:689009) has a Research & Development of ¥1,368 Mil as of Mar. 2026. Research and development expense is the total cost for research and development activities. View historical data on Ninebot and its competitors.
Is Ninebot's Research & Development too high?
Ninebot's current Research & Development is ¥1,368 Mil. Overall, Ninebot has a GF Score™ of 79/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Ninebot's Research & Development compare to AS and HAS?
Ninebot's Research & Development of ¥1,368 Mil can be compared against companies in the Travel & Leisure industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Research & Development for a Travel & Leisure company?
A good Research & Development depends on the Travel & Leisure industry context. However, Research & Development should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Research & Development mean?
A high Research & Development can signal that a stock is expensive relative to its fundamentals. Research and development expense is the total cost for research and development activities. View historical data on Ninebot and its competitors. Ninebot's current Research & Development is ¥1,368 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ninebot stock overvalued right now?
Based on GuruFocus' analysis, Ninebot (SHSE:689009) is currently considered Significantly Undervalued. The stock's GF Value™ is ¥87.54, compared to a current price of ¥42.61 — trading 51.3% below its estimated fair value. The current Research & Development is ¥1,368 Mil. Ninebot's overall GF Score™ is 79/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Research & Development calculated?
Research & Development is calculated from a company's financial statements. For Ninebot (SHSE:689009), the current Research & Development is ¥1,368 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Ninebot (SHSE:689009) Overvalued in 2026?

Based on GuruFocus' analysis, Ninebot stock appears to be undervalued. The current stock price of ¥42.61 is trading 51.3% below its estimated GF Value™ of ¥87.54. GuruFocus considers Ninebot to be Significantly Undervalued.

Key valuation signals for SHSE:689009:

  • Research & Development: ¥1,368 Mil
  • GF Value™: ¥87.54 vs. price of ¥42.61 (51.3% below fair value)
  • GF Score™: 79/100 with 2 warning signs

No single metric tells the full story. See the SHSE:689009 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Ninebot Business Description

Address 66 Xixiaokou Road, Zhongguancun Dongsheng Science and Technology Park, Building A, Haidian District, Beijing, CHN, 100192
Ninebot Ltd is engaged in the research and development, design, manufacturing, distribution and sales of short-distance transportation products. The products offered by the company include electric balance bikes and electric scooters for short distance commuting.
79GF Score

Get the complete analysis for SHSE:689009

Research & Development is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

¥42.61
Price
¥87.54
GF Value