Niu Technologies Announces Unaudited Second Quarter 2025 Financial Results
Niu Technologies (NASDAQ: NIU), a leading smart urban mobility solutions provider, reported strong Q2 2025 financial results. The company achieved revenues of RMB 1,255.7 million, up 33.5% year-over-year, driven by a 36.7% increase in e-scooter sales volume to 350,090 units.
The company returned to profitability with a net income of RMB 5.9 million, compared to a net loss of RMB 24.9 million in Q2 2024. Gross margin improved to 20.1% from 17.0% year-over-year. China market sales showed remarkable growth with 318,719 units sold, up 53.6%, while international sales declined 35.5% to 31,371 units. The company expanded its domestic retail network to 4,304 stores and maintains presence in 53 countries through 57 distributors.
Niu Technologies (NASDAQ: NIU), fornitore leader di soluzioni intelligenti per la mobilità urbana, ha pubblicato solidi risultati finanziari del 2° trimestre 2025. L'azienda ha registrato ricavi per RMB 1.255,7 milioni, in aumento del 33,5% su base annua, grazie a un incremento del 36,7% delle vendite di monopattini elettrici, pari a 350.090 unità.
L'azienda è tornata a generare utili con un utile netto di RMB 5,9 milioni, rispetto a una perdita netta di RMB 24,9 milioni nel 2° trimestre 2024. Il margine lordo è salito al 20,1% dal 17,0% su base annua. Il mercato cinese ha mostrato una crescita significativa, con 318.719 unità vendute (+53,6%), mentre le vendite internazionali sono diminuite del 35,5% a 31.371 unità. L'azienda ha ampliato la sua rete di vendita nazionale a 4.304 negozi e mantiene la propria presenza in 53 paesi tramite 57 distributori.
Niu Technologies (NASDAQ: NIU), proveedor líder de soluciones inteligentes de movilidad urbana, anunció sólidos resultados financieros del 2T 2025. La compañía obtuvo ingresos por RMB 1.255,7 millones, un 33,5% más interanual, impulsados por un aumento del 36,7% en el volumen de ventas de patinetes eléctricos hasta 350.090 unidades.
La empresa volvió a la rentabilidad con un beneficio neto de RMB 5,9 millones, frente a una pérdida neta de RMB 24,9 millones en el 2T de 2024. El margen bruto mejoró hasta el 20,1% desde el 17,0% interanual. Las ventas en el mercado chino crecieron de forma destacada, con 318.719 unidades vendidas (+53,6%), mientras que las ventas internacionales bajaron un 35,5% hasta 31.371 unidades. La compañía amplió su red minorista nacional a 4.304 tiendas y mantiene presencia en 53 países a través de 57 distribuidores.
Niu Technologies (NASDAQ: NIU)는 스마트 도시 모빌리티 솔루션의 선도 기업으로서 강력한 2025년 2분기 실적을 발표했습니다. 회사는 매출 RMB 1,255.7 million을 기록해 전년 동기 대비 33.5% 증가했으며, 전동 킥보드 판매량이 36.7% 늘어난 350,090대를 기록하며 성장을 견인했습니다.
회사는 순이익 RMB 5.9 million으로 흑자 전환했으며, 이는 2024년 2분기 순손실 RMB 24.9 million과 비교되는 수치입니다. 총이익률은 전년 동기 17.0%에서 20.1%로 개선되었습니다. 중국 시장에서는 318,719대 판매로 53.6%의 눈에 띄는 성장을 보인 반면, 해외 판매는 31,371대로 35.5% 감소했습니다. 회사는 국내 소매망을 4,304개 매장으로 확장했으며, 57개 유통사를 통해 53개국에 진출해 있습니다.
Niu Technologies (NASDAQ: NIU), fournisseur de premier plan de solutions de mobilité urbaine intelligente, a annoncé de solides résultats financiers du 2e trimestre 2025. La société a réalisé un chiffre d'affaires de RMB 1 255,7 millions, en hausse de 33,5% en glissement annuel, soutenu par une augmentation de 36,7% des ventes de trottinettes électriques, à 350 090 unités.
La société est redevenue bénéficiaire avec un résultat net de RMB 5,9 millions, contre une perte nette de RMB 24,9 millions au 2e trimestre 2024. La marge brute s'est améliorée à 20,1% contre 17,0% l'année précédente. Le marché chinois a affiché une croissance remarquable avec 318 719 unités vendues (+53,6%), tandis que les ventes internationales ont diminué de 35,5% à 31 371 unités. L'entreprise a étendu son réseau de vente national à 4 304 magasins et reste présente dans 53 pays via 57 distributeurs.
Niu Technologies (NASDAQ: NIU), ein führender Anbieter intelligenter urbaner Mobilitätslösungen, meldete starke Finanzergebnisse für das 2. Quartal 2025. Das Unternehmen erzielte Umsatzerlöse von RMB 1.255,7 Millionen, ein Plus von 33,5% gegenüber dem Vorjahr, getrieben durch einen 36,7%igen Anstieg des Absatzes von Elektroscootern auf 350.090 Einheiten.
Das Unternehmen kehrte mit einem Nettogewinn von RMB 5,9 Millionen in die Profitabilität zurück, gegenüber einem Nettoverlust von RMB 24,9 Millionen im 2. Quartal 2024. Die Bruttomarge verbesserte sich auf 20,1% gegenüber 17,0% im Vorjahreszeitraum. Der chinesische Markt wies mit 318.719 verkauften Einheiten ein bemerkenswertes Wachstum von 53,6% auf, während die internationalen Verkäufe um 35,5% auf 31.371 Einheiten zurückgingen. Das Unternehmen hat sein nationales Einzelhandelsnetz auf 4.304 Geschäfte ausgebaut und ist über 57 Distributoren in 53 Ländern präsent.
- Returned to profitability with net income of RMB 5.9 million vs net loss last year
- Revenue growth of 33.5% year-over-year to RMB 1,255.7 million
- Significant improvement in gross margin to 20.1% from 17.0%
- Strong domestic growth with China e-scooter sales up 53.6%
- Retail network expansion to 4,304 stores in China
- Positive Q3 2025 guidance expecting 40-60% revenue growth
- International e-scooter sales declined 35.5% year-over-year
- Operating expenses increased 38.1% year-over-year
- Selling and marketing expenses surged 68.2% due to increased advertising spending
- Revenue per e-scooter decreased 2.3% to RMB 3,587
Insights
NIU returned to profitability with 33.5% revenue growth driven by strong China sales, offsetting international weakness.
NIU Technologies has delivered a significant financial turnaround in Q2 2025, posting
The company's performance shows a clear geographic divergence. In China, e-scooter sales volume surged by
Particularly noteworthy is NIU's gross margin improvement to
However, operating expenses grew faster than revenue, increasing
Looking forward, management's Q3 guidance projects revenue between
The company's return to profitability with adjusted net income of
-- Second Quarter Revenues of RMB 1,255.7 million, increase
-- Second Quarter Net Income of RMB 5.9 million, compared to net loss of RMB 24.9 million in the same period of last year
BEIJING, Aug. 11, 2025 (GLOBE NEWSWIRE) -- Niu Technologies (“NIU”, or “the Company”) (NASDAQ: NIU), the world’s leading provider of smart urban mobility solutions, today announced its unaudited financial results for the second quarter ended June 30, 2025.
Second Quarter 2025 Financial Highlights
- Revenues were RMB 1,255.7 million, an increase of
33.5% year over year - Gross margin was
20.1% , compared with17.0% in the second quarter of 2024 - Net income was RMB 5.9 million, compared with net loss of RMB 24.9 million in the second quarter of 2024
- Adjusted net income (non-GAAP)1 was RMB 13.7 million, compared with adjusted net loss of RMB 19.5 million in the second quarter of 2024
Second Quarter 2025 Operating Highlights
- The number of e-scooters sold was 350,090, up
36.7% year over year - The number of e-scooters sold in China was 318,719, up
53.6% year over year - The number of e-scooters sold in the international markets was 31,371, down
35.5% year over year - The number of franchised stores in China was 4,304 as of June 30, 2025
- The number of distributors in our international sales network was 57, covering 53 countries as of June 30, 2025
Dr. Yan Li, Chief Executive Officer of the Company, remarked, "During China’s e-commerce peak season in May and June, our products consistently ranked among the best-selling mid to high-end models in the electric bicycle and electric motorcycle sectors. Featuring enhanced intelligence and functionality, our new models launched in the first half of 2025 demonstrated our commitment to smart technology. In addition, we expanded our domestic retail network to over 4,300 stores in China, reinforcing our growth strategy in the domestic market."
Dr. Li continued, "In overseas markets, our electric motorcycles continued their steady recovery throughout the first half, in line with our overseas strategy. Meanwhile, sales in the micromobility segment softened due to ongoing geopolitical and economic uncertainties.”
Second Quarter 2025 Financial Results
Revenues reached RMB 1,255.7 million, representing a
| Revenues (in RMB million) | 2025 Q2 | 2024 Q2 | % change YoY | ||||
| E-scooter sales from China market | 1,056.9 | 727.1 | + | ||||
| E-scooter sales from international markets | 103.1 | 130.4 | - | ||||
| E-scooter sales, sub-total | 1,160.0 | 857.5 | + | ||||
| Accessories, spare parts and services | 95.7 | 83.0 | + | ||||
| Total | 1,255.7 | 940.5 | + | ||||
| Revenues per e-scooter (in RMB) | 2025 Q2 | 2024 Q2 | % change YoY | ||||
| E-scooter sales from China market2 | 3,316 | 3,503 | - | ||||
| E-scooter sales from international markets2 | 3,288 | 2,682 | + | ||||
| E-scooter sales | 3,313 | 3,347 | - | ||||
| Accessories, spare parts and services3 | 274 | 324 | - | ||||
| Revenues per e-scooter | 3,587 | 3,671 | - | ||||
- E-scooter sales revenues from China market were RMB 1,056.9 million, an increase of
45.4% year-over-year, and represented91.1% of total e-scooter revenues. The increase was mainly due to a significant increase in sales volume, partially offset by a slight decrease in revenues per e-scooter in China market. - E-scooter sales revenues from international markets were RMB 103.1 million, a decrease of
20.9% year-over-year, and represented8.9% of total e-scooter revenues. The decrease was mainly due to a decrease in sales volume and revenues per e-scooter of kick-scooters in international markets. - Accessories, spare parts sales and services revenues were RMB 95.7 million, an increase of
15.3% year-over-year, and represented7.6% of total revenues. The increase was mainly due to an increase in accessories and spare parts sales in China market.
- Revenues per e-scooter was RMB 3,587, a decrease of
2.3% year-over-year, mainly due to decreased revenues per e-scooter in China market, partially offset by increased revenues per e-scooter in international markets.
Cost of revenues was RMB 1,003.2 million, an increase of
Gross margin was
Operating expenses were RMB 264.9 million, an increase of
- Selling and marketing expenses were RMB 202.2 million (including RMB 1.7 million of share-based compensation), an increase of
68.2% from RMB 120.2 million in the second quarter of 2024, primarily driven by a RMB 69.2 million increase in spending on online shopping festivals and other advertising in China market. Selling and marketing expenses as a percentage of revenues was16.1% , compared with12.8% in the second quarter of 2024. - Research and development expenses were RMB 43.7 million (including RMB 2.8 million of share-based compensation), an increase of
35.5% from RMB 32.3 million in the second quarter of 2024, mainly due to a RMB 6.1 million increase in staff cost and share-based compensation, as well as a RMB 4.9 million increase in design and testing expenses. Research and development expenses as a percentage of revenues was3.5% , compared with3.4% in the second quarter of 2024. - General and administrative expenses were RMB 19.1 million (including RMB 3.2 million of share-based compensation), a decrease of
51.6% from RMB 39.3 million in the second quarter of 2024, mainly due to an increase in foreign exchange gain of RMB 24.7 million. General and administrative expenses as a percentage of revenues was1.5% , compared with4.2% in the second quarter of 2024.
Operating expenses excluding share-based compensation were RMB 257.3 million, an increase of
- Selling and marketing expenses excluding share-based compensation were RMB 200.5 million, an increase of
68.6% year over year, and represented16.0% of revenues, compared with12.6% in the second quarter of 2024. - Research and development expenses excluding share-based compensation were RMB 40.9 million, an increase of
34.5% year over year, and represented3.3% of revenues, compared with3.2% in the second quarter of 2024. - General and administrative expenses excluding share-based compensation were RMB 15.9 million, a decrease of
57.4% year over year, and represented1.3% of revenues, compared with4.0% in the second quarter of 2024.
Share-based compensation was RMB 7.9 million, compared with RMB 5.4 million in the same period of 2024.
Income tax benefit was RMB 12.5 million, compared with income tax expense of RMB 1.0 million in the same period of 2024.
Net income was RMB 5.9 million, compared with net loss of RMB 24.9 million in the second quarter of 2024. The net income margin was
Adjusted net income (non-GAAP) was RMB 13.7 million, compared with an adjusted net loss of RMB 19.5 million in the second quarter of 2024. The adjusted net income margin4 was
Basic and diluted net income per ADS were both RMB 0.07 (US
Balance Sheet
As of June 30, 2025, the Company had cash and cash equivalents, term deposits and short-term investments of RMB 1,226.6 million in aggregate. The Company had restricted cash of RMB 214.8 million and short-term bank borrowings of RMB 220.0 million.
Business Outlook
NIU expects revenues of the third quarter 2025 to be in the range of RMB 1,433 million to RMB 1,638 million, representing a year-over-year increase of
The above outlook is based on information available as of the date of this press release and reflects the Company’s current and preliminary expectation and is subject to change.
Conference Call
The Company will host an earnings conference call on Monday, August 11, 2025 at 8:00 AM U.S. Eastern Time (8:00 PM Beijing/Hong Kong Time) to discuss its second quarter 2025 financial and business results and provide a corporate update.
To join via phone, participants need to register in advance of the conference call using the link provided below. Upon registration, participants will receive dial-in numbers and a personal PIN, which will be used to join the conference call.
| Event: | Niu Technologies Second Quarter 2025 Financial Results Conference Call |
| Registration Link: | https://register-conf.media-server.com/register/BI7cb0e8479a9b40adad9622e7836a0677 |
A live and archived webcast of the conference call will be available on the investor relations website at https://ir.niu.com/news-and-events/webcasts-and-presentations.
About NIU
As the world’s leading provider of smart urban mobility solutions, NIU designs, manufactures and sells high-performance electric motorcycles, mopeds, bicycles, as well as kick-scooters and e-bikes. NIU has a diversified product portfolio that caters to the various demands of our users and addresses different urban travel scenarios. Currently, NIU offers two model lineups, comprising a number of different vehicle types. These include (i) the electric motorcycle, moped and bicycle series, including the NQi, MQi, UQi, FQi series and others, and (ii) the micro-mobility series, including the kick-scooter series KQi and the e-bike series BQi. NIU has adopted an omnichannel retail model, integrating the offline and online channels, to sell its products and provide services to users.
For more information, please visit www.niu.com.
Use of Non-GAAP Financial Measures
To supplement NIU’s consolidated financial results presented in accordance with the accounting principles generally accepted in the United States of America (“GAAP”), NIU uses the following non-GAAP financial measures: adjusted net income (loss) and adjusted net income (loss) margin. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. NIU believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance and liquidity by excluding certain items that may not be indicative of its operating results. The Company believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management’s internal comparisons to NIU’s historical performance. The Company believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. A limitation of using these non-GAAP financial measures is that these non-GAAP measures exclude certain items that have been and will continue to be for the foreseeable future a significant component in the Company’s results of operations. These non-GAAP financial measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company’s data.
Adjusted net income (loss) is defined as net income (loss) excluding share-based compensation expenses. Adjusted net income (loss) margin is defined as adjusted net income (loss) as a percentage of the revenues.
For more information on non-GAAP financial measures, please see the tables captioned “Reconciliation of GAAP and Non-GAAP Results”.
Exchange Rate
This announcement contains translations of certain RMB amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the readers. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB 7.1636 to US
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as NIU’s strategic and operational plans, contain forward-looking statements. NIU may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about NIU’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: NIU’s strategies; NIU’s future business development, financial condition and results of operations; NIU’s ability to maintain and enhance its “NIU” brand; its ability to innovate and successfully launch new products and services; its ability to maintain and expand its offline distribution network; its ability to satisfy the mandated safety standards relating to e-scooters; its ability to secure supply of components and raw materials used in e-scooters; its ability to manufacture, launch and sell smart e-scooters meeting customer expectations; its ability to grow collaboration with operation partners; its ability to control costs associated with its operations; general economic and business conditions in China and globally; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in NIU’s filings with the Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and NIU does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Investor Relations Contact:
Niu Technologies
E-mail: ir@niu.com
| NIU TECHNOLOGIES | ||||||||
| UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||
| As of | ||||||||
| December 31, | June 30, | June 30, | ||||||
| 2024 | 2025 | 2025 | ||||||
| RMB | RMB | US$ | ||||||
| ASSETS | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | 630,021,303 | 1,091,655,358 | 152,389,212 | |||||
| Term deposits | 274,351,895 | 134,915,995 | 18,833,547 | |||||
| Restricted cash | 216,395,796 | 214,758,000 | 29,979,061 | |||||
| Short-term investments | - | 52,258 | 7,295 | |||||
| Accounts receivable, net | 131,921,419 | 139,323,331 | 19,448,787 | |||||
| Inventories | 649,177,719 | 718,555,675 | 100,306,504 | |||||
| Prepayments and other current assets | 267,938,339 | 305,238,176 | 42,609,606 | |||||
| Total current assets | 2,169,806,471 | 2,604,498,793 | 363,574,012 | |||||
| Non-current assets | ||||||||
| Property, plant and equipment, net | 320,013,632 | 345,609,048 | 48,245,163 | |||||
| Intangible assets, net | 1,043,801 | 910,718 | 127,131 | |||||
| Operating lease right-of-use assets | 71,223,350 | 76,863,145 | 10,729,681 | |||||
| Deferred income tax assets | 31,752,254 | 47,105,326 | 6,575,650 | |||||
| Other non-current assets | 19,318,659 | 19,063,041 | 2,661,098 | |||||
| Total non-current assets | 443,351,696 | 489,551,278 | 68,338,723 | |||||
| Total assets | 2,613,158,167 | 3,094,050,071 | 431,912,735 | |||||
| LIABILITIES | ||||||||
| Current liabilities | ||||||||
| Short-term bank borrowings | 200,000,000 | 220,000,000 | 30,710,816 | |||||
| Notes payable | 294,348,768 | 280,000,000 | 39,086,493 | |||||
| Accounts payable | 869,015,140 | 1,131,648,176 | 157,971,994 | |||||
| Income taxes payable | 1,071,914 | 22,237 | 3,104 | |||||
| Advances from customers | 35,892,860 | 138,749,942 | 19,368,745 | |||||
| Deferred revenue-current | 50,247,103 | 51,824,384 | 7,234,405 | |||||
| Accrued expenses and other current liabilities | 201,356,008 | 330,572,447 | 46,146,135 | |||||
| Total current liabilities | 1,651,931,793 | 2,152,817,186 | 300,521,692 | |||||
| Deferred revenue-non-current | 16,886,859 | 17,168,966 | 2,396,695 | |||||
| Deferred income tax liabilities | 3,269,464 | 3,067,157 | 428,159 | |||||
| Operating lease liabilities | 89,990 | 5,175,294 | 722,443 | |||||
| Other non-current liabilities | 9,697,841 | 12,181,058 | 1,700,410 | |||||
| Total non-current liabilities | 29,944,154 | 37,592,475 | 5,247,707 | |||||
| Total liabilities | 1,681,875,947 | 2,190,409,661 | 305,769,399 | |||||
| SHAREHOLDERS’ EQUITY: | ||||||||
| Class A ordinary shares | 90,549 | 90,787 | 12,673 | |||||
| Class B ordinary shares | 10,316 | 10,316 | 1,440 | |||||
| Additional paid-in capital | 1,988,638,160 | 2,004,071,073 | 279,757,534 | |||||
| Accumulated other comprehensive loss | (3,129,362 | ) | (13,240,087 | ) | (1,848,245 | ) | ||
| Accumulated deficit | (1,054,327,443 | ) | (1,087,291,679 | ) | (151,780,066 | ) | ||
| Total shareholders’ equity | 931,282,220 | 903,640,410 | 126,143,336 | |||||
| Total liabilities and shareholders’ equity | 2,613,158,167 | 3,094,050,071 | 431,912,735 | |||||
| NIU TECHNOLOGIES | |||||||||||||||
| UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| 2024 | 2025 | 2024 | 2025 | ||||||||||||
| RMB | RMB | US$ | RMB | RMB | US$ | ||||||||||
| Revenues | 940,485,316 | 1,255,706,686 | 175,289,894 | 1,445,219,891 | 1,937,695,138 | 270,491,811 | |||||||||
| Cost of revenues(a) | (780,800,920 | ) | (1,003,227,265 | ) | (140,045,126 | ) | (1,189,985,235 | ) | (1,567,134,506 | ) | (218,763,542 | ) | |||
| Gross profit | 159,684,396 | 252,479,421 | 35,244,768 | 255,234,656 | 370,560,632 | 51,728,269 | |||||||||
| Operating expenses: | |||||||||||||||
| Selling and marketing expenses(a) | (120,227,190 | ) | (202,168,443 | ) | (28,221,626 | ) | (225,560,363 | ) | (316,766,358 | ) | (44,218,878 | ) | |||
| Research and development expenses(a) | (32,257,721 | ) | (43,716,913 | ) | (6,102,646 | ) | (61,188,696 | ) | (73,518,519 | ) | (10,262,790 | ) | |||
| General and administrative expenses(a) | (39,345,476 | ) | (19,057,766 | ) | (2,660,362 | ) | (69,958,435 | ) | (39,708,380 | ) | (5,543,076 | ) | |||
| Total operating expenses | (191,830,387 | ) | (264,943,122 | ) | (36,984,634 | ) | (356,707,494 | ) | (429,993,257 | ) | (60,024,744 | ) | |||
| Government grants | - | - | - | 3,756 | 386,890 | 54,008 | |||||||||
| Operating loss | (32,145,991 | ) | (12,463,701 | ) | (1,739,866 | ) | (101,469,082 | ) | (59,045,735 | ) | (8,242,467 | ) | |||
| Interest expenses | (1,520,883 | ) | (1,556,698 | ) | (217,307 | ) | (2,487,283 | ) | (2,968,020 | ) | (414,320 | ) | |||
| Interest income | 8,762,650 | 6,671,638 | 931,325 | 18,017,361 | 13,565,110 | 1,893,616 | |||||||||
| Investment income | 1,001,901 | 681,245 | 95,098 | 1,001,901 | 689,025 | 96,184 | |||||||||
| Loss before income taxes | (23,902,323 | ) | (6,667,516 | ) | (930,750 | ) | (84,937,103 | ) | (47,759,620 | ) | (6,666,987 | ) | |||
| Income tax (expense) benefit | (1,016,141 | ) | 12,548,000 | 1,751,633 | 5,221,026 | 14,795,384 | 2,065,356 | ||||||||
| Net (loss) income | (24,918,464 | ) | 5,880,484 | 820,883 | (79,716,077 | ) | (32,964,236 | ) | (4,601,631 | ) | |||||
| Other comprehensive income (loss) | |||||||||||||||
| Foreign currency translation adjustment, net of nil income taxes | 2,026,261 | (7,115,515 | ) | (993,288 | ) | 2,532,754 | (10,110,725 | ) | (1,411,403 | ) | |||||
| Comprehensive loss | (22,892,203 | ) | (1,235,031 | ) | (172,405 | ) | (77,183,323 | ) | (43,074,961 | ) | (6,013,034 | ) | |||
| Net (loss) income per ordinary share | |||||||||||||||
| —Basic | (0.16 | ) | 0.04 | 0.01 | (0.50 | ) | (0.21 | ) | (0.03 | ) | |||||
| —Diluted | (0.16 | ) | 0.04 | 0.00 | (0.50 | ) | (0.21 | ) | (0.03 | ) | |||||
| Net (loss) income per ADS | |||||||||||||||
| —Basic | (0.31 | ) | 0.07 | 0.01 | (1.01 | ) | (0.41 | ) | (0.06 | ) | |||||
| —Diluted | (0.31 | ) | 0.07 | 0.01 | (1.01 | ) | (0.41 | ) | (0.06 | ) | |||||
| Weighted average number of ordinary shares and ordinary shares equivalents outstanding used in computing net (loss) income per ordinary share | |||||||||||||||
| —Basic | 158,541,994 | 159,670,250 | 159,670,250 | 158,127,845 | 159,500,699 | 159,500,699 | |||||||||
| —Diluted | 158,541,994 | 164,767,384 | 164,767,384 | 158,127,845 | 159,500,699 | 159,500,699 | |||||||||
| Weighted average number of ADS outstanding used in computing net (loss) income per ADS | |||||||||||||||
| —Basic | 79,270,997 | 79,835,125 | 79,835,125 | 79,063,923 | 79,750,350 | 79,750,350 | |||||||||
| —Diluted | 79,270,997 | 82,383,692 | 82,383,692 | 79,063,923 | 79,750,350 | 79,750,350 | |||||||||
| Note: | |||||||||||||||
| (a) Includes share-based compensation expenses as follows: | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| 2024 | 2025 | 2024 | 2025 | ||||||||||||
| RMB | RMB | US$ | RMB | RMB | US$ | ||||||||||
| Cost of revenues | 138,354 | 223,656 | 31,221 | 441,889 | 477,164 | 66,610 | |||||||||
| Selling and marketing expenses | 1,328,704 | 1,656,505 | 231,239 | 3,338,816 | 3,318,582 | 463,256 | |||||||||
| Research and development expenses | 1,831,979 | 2,785,623 | 388,858 | 3,273,257 | 5,412,153 | 755,507 | |||||||||
| General and administrative expenses | 2,070,589 | 3,194,639 | 445,954 | 4,626,439 | 6,142,631 | 857,478 | |||||||||
| Total share-based compensation expenses | 5,369,626 | 7,860,423 | 1,097,272 | 11,680,401 | 15,350,530 | 2,142,851 | |||||||||
| NIU TECHNOLOGIES | |||||||||||||
| RECONCILIATION OF GAAP AND NON-GAAP RESULTS | |||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||
| 2024 | 2025 | 2024 | 2025 | ||||||||||
| RMB | RMB | US$ | RMB | RMB | US$ | ||||||||
| Net (loss) income | (24,918,464 | ) | 5,880,484 | 820,883 | (79,716,077 | ) | (32,964,236 | ) | (4,601,631 | ) | |||
| Add: | |||||||||||||
| Share-based compensation expenses | 5,369,626 | 7,860,423 | 1,097,272 | 11,680,401 | 15,350,530 | 2,142,851 | |||||||
| Adjusted net (loss) income | (19,548,838 | ) | 13,740,907 | 1,918,155 | (68,035,676 | ) | (17,613,706 | ) | (2,458,780 | ) | |||
_______________________________________
1 Adjusted net income (loss) (non-GAAP) is defined as net income (loss) excluding share-based compensation expenses
2 Revenues per e-scooter on e-scooter sales from China or international markets is defined as e-scooter sales revenues from China or international markets divided by the number of e-scooters sold in China or international market in a specific period
3 Revenues per e-scooter on accessories, spare parts and services is defined as accessories, spare parts and services revenues divided by the total number of e-scooters sold in a specific period
4 Adjusted net income (loss) margin is defined as adjusted net income (loss) (non-GAAP) as a percentage of the revenues
FAQ
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