Niu Technologies reports developments in smart urban mobility, including electric motorcycles, mopeds, bicycles, kick-scooters and e-bikes. The company’s product portfolio includes the NQi, MQi, UQi and FQi vehicle series, along with the KQi kick-scooter series and BQi e-bike series.
Recurring company updates cover quarterly and annual financial results, unit sales volumes, China and international market performance, revenue by product category, gross margin, net income or loss, and retail-channel activity. NIU also discusses its omnichannel sales model, product portfolio changes, domestic franchised-store network, and international operating priorities.
Niu Technologies (NASDAQ: NIU), a leader in smart urban mobility, reported its unaudited Q1 2024 financial results. Revenues increased by 21.0% year-over-year to RMB 504.7 million. E-scooter sales rose 36.8%, with 129,139 units sold, and Chinese market sales surged 35.1%.
However, the net loss was RMB 54.8 million, an improvement from the previous year's RMB 60.3 million loss. Gross margin declined to 18.9%, down from 21.7% in Q1 2023. International sales revenue fell by 8.1%, while the revenue per e-scooter decreased by 11.6%. Operating expenses increased by 4.6% year-over-year. The company aims for Q2 revenue between RMB 912 million to RMB 995 million, representing a 10%-20% year-over-year increase.
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